Stirling Properties Welcomes 1st El Pollo Loco to Louisiana Market
Stirling Properties commercial real estate company is pleased to welcome Louisiana’s 1st El Pollo Loco restaurant to Lafayette.
The new El Pollo Loco will be located at 3808 Johnston Street on the corner of Westchester Drive. It will occupy 3,000 square feet of restaurant space, including a drive-thru. Construction on the building is expected to commence in early September, with an anticipated opening in the late spring of 2018.
El Pollo Loco, which is Spanish for “The Crazy Chicken,” features authentically prepared flame-grilled, citrus-marinated chicken, burritos, salads, soups, tacos, and quesadillas.
“We’re dedicated to serving healthy, fresh ‘pollo’ (chicken) hot off our open-flame grills from the skilled hands of our Grill Masters,” said Jason Trotter, El Pollo Loco franchise owner. “Our goal is to serve perfect ‘pollo’ all the time! We are excited to open our first El Pollo Loco restaurant in Louisiana—and we look forward to bringing our authentic Mexican grill to the residents of Lafayette!”
Rhonda Sharkawy and Lauren Ryan, leasing executives with Stirling Properties are the exclusive commercial brokers for El Pollo Loco in the state of Louisiana and are working to identify additional restaurant locations for the franchise. Ryan Pecot, leasing executive with Stirling Properties also represented the sellers in this transaction.
El Pollo Loco is publically traded and has more than 470 company-owned and franchised restaurants in Arizona, California, Nevada, Texas, and Utah. El Pollo Loco is expanding its presence in key markets through a combination of company and existing and new franchisee development.
Stirling Properties To Manage and Lease Hardy Court Shopping Center in Gulfport, Mississippi
Stirling Properties commercial real estate company has assumed the property management and leasing contract for Hardy Court Shopping Center located at 105 Hardy Court in Gulfport, Mississippi.
Hardy Court Shopping Center is a 225,400-square-foot neighborhood center situated at Pass Road and Courthouse Road, across the street from Gulfport High School. It is a historic retail hub that has provided goods and services to the Gulfport community for more than 50 years. The Center is currently 70% leased. Tenants include a great mix of national and local retailers including Big Lots, Froogel’s Cost + Foods, Badcock &more, Dollar General, Goodwill, Hibbett Sports, Cricket Wireless, and Subway.
Over the last couple of years, the Shopping Center has received a facelift to enhance the value and appearance of the Property. The building exterior was painted, the parking lot was repaved and restriped, and LED lights were installed to improve lighting in the parking area. New signage and additional improvements are in the works.
Stirling Properties manages more than 18 million square feet of commercial property with 120 million square feet of property and land for sale of lease. Other Stirling Properties management projects in the area include Handsboro Square and Orange Grove Shopping Centers in Gulfport, Choctaw Plaza in Waveland, Parkway Plaza in D’Iberville, and the Gulf Coast Non-Profit Center Building in Gulfport, just to name a few.
For leasing information, contact Melissa Warren, CCIM, at mwarren@stirlingprop.com or (504) 620-8148. For asset & property management information, contact Donna Taylor at dtaylor@stirlingprop.com or (985) 898-2022.
Expanding Commercial Real Estate Services in Southwest Louisiana
Stirling Properties is pleased to announce that it is expanding its commercial real estate services in Lake Charles and the Southwest Louisiana region. Seth Citron, Sales and Leasing Executive, will lead the company’s growth efforts in the area.
Citron, a former Lake Charles resident, has led brokerage services remotely in the area over the last couple of years, and will now be returning to establish a physical presence in the market beginning Monday, August 14th.
Southwest Louisiana has seen a considerable economic boom over the last couple of years. Population growth, increased job opportunities, and rapid business expansion is making Lake Charles one of the fastest growing regions in the state. The progression is also spurring commercial real estate development that is quickly attracting new retailers and business tenants.
“Stirling Properties has been active in Southwest Louisiana for many years, but the recent economic growth has provided us an opportunity to expand our services and put boots on the ground in the market again,” said Marty Mayer, President & CEO of Stirling Properties. “Having previously lived in Lake Charles, Seth is familiar with the area. He understands the local industry and will be a huge asset to the community.”
“As part of our overall company growth strategy, Stirling Properties continues to expand and diversify our brand and footprint in Southwest Louisiana—in all facets of commercial real estate opportunities,” said Citron. “Growth in this region has reached unprecedented heights and we look forward to serving its developing real estate needs.”
Citron joined Stirling Properties’ Commercial Brokerage Division in 2007. With a focus that includes representation of both landlord and tenant needs, he has a diversified portfolio of transactions in multiple facets of commercial real estate. He has knowledge and experience in numerous fields, including industrial, land, office, retail, and specific site selection needs. His particular geographical areas of expertise include Southwest Louisiana and specific markets of Lafayette, Lake Charles, Baton Rouge, Houma, and Alexandria. Citron is an active member of the International Council of Shopping Centers (ICSC) and Retail Brokers Network (RBN).
Seth Citron can be reached at (337) 572-0273 or scitron@stirlingprop.com
Stirling Properties Expanding Portfolio
Stirling Properties’ Asset & Property Management Team has recently secured several new management contracts, adding nearly 700,000 square feet to our commercial real estate portfolio. As part of our company-wide growth plan, Stirling Properties is expanding and diversifying our footprint into new asset types and geographic regions—and our asset & property management services continue to play a major role.
Earlier this year, Stirling Properties partnered with New Orleans-based PMAT to manage the company’s newly acquired shopping centers located across the Southeast, Sunbelt, Carolinas, Mid-Atlantic, and Midwest. As part of that ongoing partnership, we have added three new properties—Legacy Crossing and North Heights Plaza in Ohio, and Pavilions At Hartman Heritage in Missouri.
North Heights Plaza in Huber Heights, OH
Legacy Crossing is a 134,389-square-foot Kohl’s-shadow-anchored community center located at State Route 95 and US Route 23 in Marion, Ohio—across the street from Ohio State University’s Marion campus. The retail center includes a strong mix of tenants such as Hobby Lobby, MC Sports, Dollar Tree, AT&T, Starbucks, and Petco.
North Heights Plaza is a 295,348-square-foot retail center located at Troy Pike (SR 202) and Executive Blvd. in Huber Heights, Ohio (Dayton MSA). National tenants include Bed Bath & Beyond, Big Lots!, DICK’S Sporting Goods, Five Below, Hobby Lobby, and Party City.
Pavilions At Hartman Heritage is located at Interstate-70 and Little Blue Parkway in Independence, Missouri (Kansas City MSA). The 223,473-square-foot retail center included tenants such as Bed Bath & Beyond, buybuy BABY, Party City, Cost Plus World Market, David’s Bridal, and Half Price Books.
Stirling Properties also recently assumed the management and leasing contract of Ambassador Plaza, a 29,405-square-foot Albertsons-shadow-anchored retail center in Lafayette, Louisiana. We will also be taking over the management of Handsboro Square, a 156,500-square-foot Rouse’s Food Market-anchored center in Gulfport, Mississippi, which Stirling Properties currently leases.
Ambassador Plaza Lafayette, Louisiana
Once a management contract is secured, Stirling Properties will assign a customized team of professionals to create a strategic business plan specific to each asset to help accomplish the client’s goals and objectives. Asset and property management services are becoming more complex in today’s industry due to the challenges facing commercial real estate and the ever-evolving retail landscape. Additionally, we see a significant growth in diverse asset types, especially among office, industrial, and medical properties and tenant uses. As a result, more and more owners are outsourcing the responsibilities.
At Stirling Properties, we understand the intricacies of commercial real estate. Our experience spans multiple property types, including retail, restaurant, office, industrial, medical, and mixed-use. We have local market knowledge, and we stay apprised of shifts in the industry, especially consumer shopping habits and retail trends. As the demand for diverse property types is increasing, so are our service lines. Our team has extensive experience in office properties—in fact, this sector makes up nearly 20% of our overall portfolio. We have also recently partnered with several high-profile medical and industrial projects, helping to shape Stirling Properties into one of the most comprehensive asset & property management teams in the Gulf South.
Our management services go far beyond providing day-to-day operations. We work hard to create the best return on investment for our clients. Our team strives to create value through cost efficiencies, economies of scale in our markets, vendor relationships, insurance, crisis preparation and response, leasing, and project/construction management to give each asset an operating advantage. We look forward to working on these new properties, while also continuing to build upon the relationships and progress that we are making across our entire asset portfolio.
Stirling Properties manages more than 18 million square feet of commercial property, with 120 million square feet of property and land for sale or lease. Click here to view a comprehensive list of our managed and leased portfolio.
For asset & property management questions or information, please feel free to reach out to us. Our team would be happy to assist you.
Shreveport-Bossier City Retail Market Survey July 2017
Stirling Properties is pleased to present the semi annual Shreveport-Bossier City Retail Market Survey. This report, compiled by Stacy Odom and Karen McElroy, of our Shreveport office, is intended to give the reader a broad understanding of the market as well as specific information about the available square footage, occupancy and rental rates of each retail center greater than twenty thousand (20,000) square feet. It was created to be a resource for agents as well as tenants, landlords, developers, lenders, fellow brokers and anyone else looking for information about the Shreveport-Bossier City retail market.
Retail Market Assessment
Shreveport-Bossier City’s retail sector grew by eight percent (8%) since 2015 with the opening of three (3) grocery anchored community shopping centers – two (2) Kroger Marketplace anchored centers in Shreveport and Bossier City and a Whole Foods anchored center in Shreveport. The retail market is healthy as evidenced by the Community Shopping Center category which shows an increase of approximately 580,000 square feet with their occupancy rate remaining stable at 92%. Although the Neighborhood Shopping Centers experienced a large drop of occupancy to 77% due to the closures of Rite Aid and K-Mart, this vacancy was offset by occupancy increases in Specialty Shopping Centers and Regional Malls. With the addition of over 580,000 square feet of new construction and the proposed demolition of approximately 25,000 square feet at Bayou Walk Shopping Center in Shreveport, year-end 2016 net absorption was approximately 417,000 square feet for our retail market. Shreveport-Bossier City’s overall retail occupancy rate has remained relatively stable at 88% at year-end 2016.
Melissa Warren Named As Sales & Leasing Executive
Stirling Properties commercial real estate company is pleased to announce that Melissa Warren, CCIM, has joined its Commercial Brokerage Division as Sales and Leasing Executive. She will work from the company’s New Orleans office located in the Pan American Life Center at 601 Poydras Street.
Warren has provided clients with commercial real estate advisory services since 2001. Her focus is on industrial, office, and retail sales and leasing, as well as tenant and landlord representation.
On behalf of clients, Warren has been responsible for conducting investment, market, and financial analysis, as well as negotiating purchase and lease contracts. She coordinates transaction due diligence, site selection services, user decision analysis, and assists clients with planning and zoning matters. Additionally, she has served as the leasing agent for East Jefferson General Hospital and has represented Whitney/Hancock Bank in the disposition of distressed commercial assets and office leasing.
Prior to joining Stirling Properties, Warren was a senior real estate advisor for Grubb & Ellis/ Sawyer Commercial in Gulfport, Mississippi. In 2005 and 2006, she was awarded the Top Producer Ruby Award by the Gulf Coast Association of Realtors (GCAR) for completing the largest number of commercial transactions on the Mississippi Gulf Coast. In 2010, she was inducted into GCAR’s Top Producer Round Table for lifetime achievement.
Warren graduated from Mississippi State University with a Bachelor of Arts degree in English. In 2006, she was designated a Certified Commercial Investment Member (CCIM). She is affiliated with the National Association of Realtors (NAR), New Orleans Metropolitan Association of Realtors (NOMAR) – Commercial Investment Division (CID), CCIM Institute, Louisiana Chapter of CCIM, International Council of Shopping Centers (ICSC), and Louisiana Commercial Database (LACDB).
Melissa Warren, CCIM, can be reached at (504) 620-8148 or mwarren@stirlingprop.com.
