Stirling Properties Executives Awarded CCIM Designation
Stirling Properties announces three of the company’s executives have been awarded the Certified Commercial Investment Member (CCIM) designation, commercial real estate’s global standard for professional achievement. The CCIM designation is conferred by the CCIM Institute, one of the largest commercial real estate networks in the world.
Congratulation to the following new CCIM designees:
Brad Stillwagon, Asset Manager with Stirling Properties, was also acknowledged by the local Louisiana CCIM Chapter for his contributions and work on candidate guidance.
A CCIM is a recognized expert in the disciplines of commercial and investment real estate. Designations are awarded to commercial real estate leaders who have a proven record of success in the field and have demonstrated a mastery of financial, market, and investment analysis for commercial real estate. CCIM designees come from a variety of professional backgrounds including asset management, brokerage, banking, development, property management, law and accounting.
Earning a CCIM designation places the recipient among the most distinguished professionals in the industry. Today, fewer than 10 percent of commercial real estate professional currently hold the designation of CCIM, making them the go-to experts in their respective markets.
CCIM Institute is a global community of 13,000 members in 30 countries that educates and connects the world’s leading experts.
Pan-American Life Insurance Group Renews Long-Term Commitment to New Orleans Market
Extends 10-Year Lease Terms at Pan-American Life Center in New Orleans, Louisiana.
Stirling Properties announces that Pan-American Life Insurance Group has signed a long-term lease extension thru 2031 of its office space at Pan-American Life Center in New Orleans, Louisiana. The company will also retain naming rights of the newly renovated building.
Pan-American Life Insurance Group, one of New Orleans’ largest employers and a leading provider of life, accident and health insurance throughout the Americas, occupies a total of 84,014 square feet of office space on four floors of the Pan-American Life Center located at 601 Poydras Street in New Orleans’s CBD. This marks one of the largest lease renewals in the New Orleans office market since 2019.
Founded in New Orleans, Pan-American Life Insurance Group is currently celebrating its 110th Anniversary and a rich history of corporate philanthropy and community service in New Orleans, supporting dozens of organizations across the arts, education and public safety.
“Pan-American Life Insurance Group is pleased to extend our office lease in the Pan-American Life Center and continue our long-term commitment to the New Orleans community and surrounding South Louisiana region. We look forward to renewing our promise to serve as a lifeline to our customers, their families and their businesses,” said José S. Suquet, Chairman of the Board, President & CEO of Pan-American Life Insurance Group.
Gaines Seaman, Senior Advisor with Stirling Properties, serves as the exclusive leasing agent for the office tower and worked with Pan-American Life Insurance Group to secure the lease extension.
“Pan-American Life Insurance Group has been an integral part of the New Orleans office community for many years, and we are honored to help cement that relationship for many more years to come. Pan-American Life Insurance Group’s renewed commitment to and investment in our area further validates the resiliency of the New Orleans office market. The recent lobby renovations and added amenities to the Pan-American Life Center make it an attractive office location for corporations, large or small,” said Seaman.
The Pan-American Life Center is recognized as one of New Orleans’ most prestigious office towers, boasting high-quality tenants in addition to housing the national and regional headquarters of many premier corporations. The class-A building encompasses roughly 673,000 square feet of office and retail space and an eight-story parking structure. The local ownership group of the Pan-American Life Center recently made a renewed investment of $7 million in renovations of the building as a sign of its deep commitment to ensure that it remains a premier office location in New Orleans. The renovations included a redeveloped café, state-of-the-art conference center and upgraded ground floor lobby to better position the building in the evolving office landscape.
The new Café on 11 is a restaurant-style, full-service cafeteria featuring a modernized dining area and exciting new menu. The Conference Center on 11 offers multi-purpose meeting space in various sizes and configurations, including a ballroom, tiered-seating amphitheater featuring high-tech audio/visual equipment, ample break-out areas and collaborative spaces, full-service catering and on-site event management and technology assistance. Other unique amenities in the building include a grab-and-go mini-mart, coffee bar, Royal Shoeshine & Repair Station and dry-cleaning pick-up lockers.
Office tenants in the building include Pan-American Life Insurance Group, IBERIABANK, Morris Bart Law Offices, McGlinchey Stafford, Merrill Lynch, Lugenbuhl, Wheaton, Peck, Rankin & Hubbard and Stirling Properties. First-floor retail tenants include Smoothie King, Starbucks, Tsunami and IBERIABANK. Stirling Properties’ affiliates own the property and are the exclusive management and leasing agents for the Pan-American Life Center.
For more information on the Pan-American Life Center, visit www.panam-neworleans.com. For leasing information, contact Gaines Seaman at gseaman@stirlingprop.com or (504) 523-4481.
History Will Tell
I want to share an intriguing quote I heard recently: “History is nothing more than a record of disruptions.” When you think about it, the sentiment is entirely accurate. If it weren’t disruptive to the logic or actions, it wouldn’t be worth remembering, learning from or memorializing. Disruption is difficult, stressful and, well, disruptive. But boiled down, disruption is progress. We can’t advance as a society without changing our mindset, which leads to behavioral change, then systemic change.
We are living in a simultaneously historic and dichotomous time. In the throes of a global pandemic, we had nowhere to go and nothing to do. But despite that, change occurred more rapidly than ever before. How we react to that change can and will determine our future.
Some people have opted to sit back, wait it out, expecting things will eventually return to normal. They view the situation as temporary. To others, this is an opportunity of a lifetime, a chance to hyper-focus on our actions, reactions and interactions with each other and our surroundings. It’s become a chance to re-think flaws in the system—whether physical or social—and push for progress. Those are the trendsetters and change-makers.
Growing up a child of the 80s (who could be classified as both a Jock and Nerd), I had two people who significantly inspired my youthful ambitions: The Boz and The Woz.
The Boz (Brian Bosworth) was the most formidable and rebellious college athlete of the decade. Middle linebacker for the notoriously rough Oklahoma Sooners, he was an All-American first-round draft choice who thumbed his nose at authority. He rocked a faux-hawk and earring and was known for simply crushing anyone who came near him. When he was suspended from college football for steroid use, the media noticed, and reports of drug use and other poor behavior by college athletes were brought to light. Ultimately, his descent from exalted hero to reviled cheater started a wave of mass investigations into college sports that altered public opinion and were the precursor to many rules in place today.
The Woz (Steve Wozniak) used his brain rather than brawn to create the first Apple Computer. Sometimes referred to as “the other Steve,” Wozniak was the co-founder of Apple along with Steve Jobs, and was the actual innovator who created the first products that led to the smartphones we are all tethered to today. Woz was seen as a true pioneer, the obscure reference that techies worship, the guy so cool that he is a question that is an answer on Jeopardy.
A few years back, I had the opportunity to meet Steve Wozniak when he delivered the keynote address at a conference I attended. While waiting in line to greet him, I thought, “What do I say to him? He is The Innovator, The Original Disruptor.” My fawning fanboy questions ended up something like, “Where did the idea and inspiration come from to create something so ingenious? How did you have the foresight to change the way people thought about technology? With technology that was only accessible to the largest and richest of big businesses to solve the most technical problems, how did you know the real power was to give everyone access?”
In reality, the question was more like, “So, how did all this happen?” But he’s The Woz; he knew what I meant. His response, some of which he repeated in his speech, floored me. He said, “I didn’t invent anything. I’m an engineer, not an inventor. All I did was take other people’s ideas and existing products and piece them together. I didn’t have the foresight to see a market for the product. I made the first one for myself, then we gave the plan to our computer club. I had no clue anyone other than our small group would ever want or have use for it. Steve Jobs was the one who realized it could be more than that.” The first Apple computer was clunky, lacked a monitor and was just a compilation of parts designed to serve other purposes. The Apple II was the model that most remember, designed explicitly for consumer sales and backed with the marketing savvy of Steve Jobs. These led to the products that changed the world.
Where am I going with all this? In the commercial real estate industry, we, too, are at an inflection point. No new technology has come out of this pandemic relative to our industry. Still, the acceleration of its use in an industry that has long been behind the curve for adaptation is astounding. Much like Wozniak assembling a few parts that changed the world, companies are focused on taking individual software platforms and merging them to create functional integrated solutions. They are using tech to create more efficient systems to run our properties and reduce carbon footprint. Others are utilizing tech to create more energy-efficient features, building materials, work from anywhere models and supply chains. Retailers used tech seemingly overnight to pivot their entire delivery systems to meet consumer demand.
Likewise, social changes can be likened to the Brian Bosworth story. Our society has sluggishly dragged forward in recent years with a complacent attitude toward issues like racism, gender inequality and environmental concerns. The Boz wasn’t the only athlete that broke the rules in the 80s. We, in general, turned a blind eye to the poor behavior of many athletes, celebrities and politicians because we wanted to exemplify the ideal and not rock the boat. In turn, the incidents that caught the world’s attention over the last year have thrown open the door for true meaningful change.
Was The Boz a bad guy? No. Was The Woz the ultimate genius? No. Their images over that decade do, however, represent the massive social and technological change that led to disruption, which in turn became history.
It has been echoed since COVID hit that there will be winners and losers in its wake. Which category we fall into depends on how we adapt to the issues brought to light during this time. Those that resist change or wait it out on the sidelines, in some way fail. Those that adapt to technology, embrace social change and recognize environmental issues will prosper. Just as we smugly look back on history at those who accepted appalling acts and unthinkable practices by today’s standards, we too will be judged by our children, grandchildren and great-grandchildren.
Look at your business (both personally and professionally) and how you can adapt to be part of a tech-savvy, socially conscious and environmentally responsible future. These issues will be the biggest challenges that our industry and society will face going forward. People, products, properties and processes that confront these issues head-on will be the disruptors and change-makers. They are our future and the winners. Those who just wait it out or go back to how it was are not. Simply put, embrace disruption, or risk becoming history.
The Wharf Reaches Record-Breaking Occupancy on Alabama Gulf Coast
The Wharf at Orange Beach, a popular shopping, dining and entertainment venue on the Alabama Gulf Coast, has reached a record-breaking total occupancy of 98% in 2021 — up from 93% in May 2020.
On the cusp of a completely full venue with only four unoccupied spaces remaining on The Wharf property, the growth has gained much interest from businesses in a range of sectors including restaurants, real estate, entertainment and retail. New tenants that have recently joined The Wharf family include Local Life OBA, Cool Shots Selfie Museum, HUK Performance Fishing Apparel, Southern Athletica, Poppy’s Boutique, Maho Shades, MA Beauty Lounge, Gulf Coast Athletics, Compass Media, the Coastal Alabama Business Chamber and The Wharf Welcome Center, The Spice & Tea Exchange, Murder Point Oysters, The Coastal Leaders Property Group, Coco LOUIE, Joanna A Boutique, Claremont Property Co., Wise Living Real Estate and more on the way that have yet to open. Nearly all are owned by area residents, making The Wharf one of the highest concentrations on the Gulf Coast of locally-owned businesses.
“As The Wharf enters its 15th year, we’re excited to welcome new establishments that will contribute to our continued success,” said Kristen Hammack, management team leader at The Wharf. “We are always looking for ways to better serve and meet the needs of both visitors and locals, and each of these new businesses brings something unique to our offerings. We pride ourselves in being a safe, family friendly venue where you can experience everything from getting married and purchasing a home to renown fishing tournaments, creative culinary options, unique shopping, energetic concerts and more — a place where ‘life’ happens.”
Tom Thumb also recently acquired and broke ground on 3.94 acres of land located at the intersection of Canal Road and Wharf Parkway East for the development of a convenience store and gas pumps. And just behind it, a 127,000 sq. ft. storage facility is currently under construction. The Wharf partnered with Jeff Barnes, broker with Stirling Properties, who is serving as the commercial leasing agent for the property and responsible for securing each of these new tenants.
“We are thrilled to work with The Wharf and welcome new businesses to Orange Beach. Despite the numerous struggles over the last year, the significance of this record-breaking occupancy for The Wharf truly demonstrates the resiliency of the community and the tenacity of locally-owned businesses, as well as the tremendous efforts of the entire team at The Wharf,” said Jeff Barnes, CCIM, senior investment advisor for Stirling Properties.
“The positive momentum is fostering new opportunities for the undeveloped parcels of The Wharf, like the new Tom Thumb and fast-serve establishments and self-storage facility. Our market dynamics and growth are very encouraging, and we are poised for continued success. We look forward to welcoming even more great tenants to The Wharf soon.”
Just last month, Shades Sunglasses and Casual Apparel, with 10 locations in four states across the Southeast, confirmed their highest-ever, single-day record in sales across all stores at its Wharf location. Shades owners, Joe and Mary Jernigan, have also recently opened HUK Performance Fishing Apparel and Coco LOUIE at The Wharf.
“Our sales during the car show a few weekends ago were higher than any Black Friday, Christmas, Memorial Day or other major-shopping holiday that we have seen,” said Joe Jernigan. “Because of the expected growth at The Wharf, we decided to open up two additional stores this year, and both businesses have already exceeded projected business model expectations. Shades at The Wharf has surpassed all other locations in sales and is on track for its best year ever since its inception in 2004 — up 30% from 2019.”
With this growth, The Wharf has made various infrastructure and general property updates along with a substantial upgrade to the nightly light show that now features state-of-the-art lasers named the SPECTRA Laser Light Experience. The spectacle is viewed by more than 115,000 visitors each year.
The Wharf Amphitheater, which was nominated for the 2019 Academy of Country Music Awards Outdoor Venue of the Year, has also received recent upgrades and will be welcoming back the C Spire Summer Concert Series this year with its first socially distant event kicking off on April 25 featuring NEEDTOBREATHE. Other top-charting industry artists are slated to perform in 2021 including the popular Luke Bryan, Jon Pardi, Brantley Gilbert, Brooks & Dunn and more.
Along with concerts, The Wharf is excited to safely welcome back annual events such as car shows, festivals, food events and holiday celebrations with more than 50 events slated for the remainder of 2021.
For the latest news and updates on what’s to come at The Wharf, visit alwharf.com, or follow along on Facebook, Instagram and Twitter at @thewharfoba. For commercial real estate information pertaining to The Wharf including executive office suites, traditional office suites, retail space and commercial sites for development, contact Jeff at 251-975-8222 or via email at jbarnes@stirlingprop.com.
About The Wharf
Located in beautiful Orange Beach, Ala., The Wharf is an official entertainment district with hundreds of family friendly events throughout the year. Enjoy shopping, drinks and dining at our 60+ unique stores, bars and restaurants. Stay onsite at the SpringHill Suites by Marriott hotel or Levin’s Bend Condominium, catch a movie at the 15-screen AMC Theatre, experience a trip around one of the Southeast’s largest Ferris wheels, take a train ride down Main Street, grab a game of mini golf, explore all that nature has to offer on a boating excursion or catch a nightly SPECTRA Laser Light Experience show — the options are endless. The 10,000-seat Wharf Amphitheater hosts a variety of well-known entertainers, and The Wharf Marina is home to some of the largest in-water boat shows and saltwater fishing tournaments on the Gulf. For more information or to book a reservation, visit alwharf.com.
A Stirling Salute
Stirling Properties celebrates success of Team Stirling & the company.
Stirling Properties hosted a virtual Stirling Salute last Friday to acknowledge and award the team and company’s remarkable success over the past year.
Marty Mayer, Stirling Properties’ President & CEO, kicked off the company-wide event recognizing the challenges of the past year and highlighting the team’s extraordinary adaptability and response. “Like most businesses, in the wake of the COVID-19 pandemic, our commercial business slowed substantially. But we were able to pivot quickly, adapt to the challenges—which uniquely positioned us to take advantage of the resulting opportunities,” said Mayer.
He noted the favorable position the company is in today is due to the groundwork that’s been laid over the last ten years. “As a company, we took chances, made conscious decisions without having a clear view of the outcome but rather a vision of the future possibilities. That’s the reason we were able to respond to this crisis and all the crises before that. Our accomplishments are due to the collective efforts of the entire team. You have heard me say, ‘when opportunity comes, it’s too late to prepare.’ Conversely, ‘when challenges come, it’s too late to prepare.’ That certainly was never truer than in 2020.”
He and Stirling Properties’ partners thanked Team Stirling for their hard work and dedication. Brokerage Division Award recipients received recognition for Bronze, Silver, Gold, Platinum, Diamond, Emerald and Ruby production levels based on individual adjusted gross commissions from 2020. Special acknowledgment was also given to Rhonda Sharkawy, Senior Retail Leasing and Development Advisor in New Orleans, for achieving the Top Commercial Producer Award —this is the 6th consecutive year she has earned this accolade.
Brokerage Awards
Ruby
Rhonda Sharkawy (Top Producer), New Orleans
Justin Langlois, Baton Rouge
Emerald
Lee de la Houssaye, Covington
Chad Rigby, Baton Rouge
Diamond
Charles Cornay, Lafayette
Nathan Handmacher, Mobile
Ryan Murphy, Covington
Jason Scott, Pensacola
Platinum
Jeff Barnes, Mobile
Steve Legendre, Baton Rouge
Ryan Pécot, Lafayette
Gold Award
Joe Gardner, New Orleans
Gaines Seaman, New Orleans
Silver Award
Thomas Bryan, New Orleans
Seth Citron, Lake Charles
Amanda Goldman, Mobile
Scott Macdonald, Baton Rouge
Bronze Award
Andrew Dickman, Mobile
Jim Dowling, Shreveport
Ben Graham, Baton Rouge
Griffin Lennox, New Orleans
Angie McArthur, Mobile
Karen McElroy, Shreveport
Stacy Odom, Shreveport
Tommy Parsons, Baton Rouge
Carly Plotkin, New Orleans
Saban Sellers, New Orleans
Dottie Tarleton, Baton Rouge
Also recognized were employees and agents who achieved special anniversaries with the company. Service Awards were given for 5, 10, 15, 20, 25, 30, 35, 40 and 45-year milestones.
Service Awards
45 Years of Service
Judy McKee – Covington
40 Years of Service
Michele Wallace – Covington
35 Years of Service
Marty Mayer – Covington
30 Years of Service
John Arthurs – New Orleans
25 Years of Service
Charles Cornay – Lafayette
20 Years of Service
Chris Abadie – Covington
Rhonda Creel – Covington
Beezie Landry – Covington
Patrick Malik – Covington
Ryan Pécot – Lafayette
Jeanne Taravella – Covington
15 Years of Service
Carri Creel – Covington
Lindsey Palmer – Covington
Dawn Plaisance – Covington
Tara Slater – Covington
Laura Wallace – Covington
10 Years of Service
Jason Babin – Lafayette
Carolyn Ciarrocchi – Lafayette
Gregory Gautreaux – New Orleans
Jimmy Gomez – New Orleans
Joseph Kimble – New Orleans
Solomon Lewis – New Orleans
Scott Macdonald – Baton Rouge
5 Years of Service
Jaime Burchfield – Covington
Bradley Cook – Covington
Jim Dowling – Shreveport
Amanda Goldman – Mobile
Jared Lauderdale – Covington
Carly Plotkin – New Orleans
Rebecca Pritchard – Lafayette
Lesia Richardson – New Orleans
Saban Sellers – New Orleans
Stirling Properties Welcomes Amazon to Fremaux Park in Slidell, Louisiana
Continuation of industrial expansion efforts in Fremaux mixed-use development
Amazon Logistics announced Thursday that it would build a delivery station at Fremaux Park in Slidell, Louisiana. Fremaux Park is the mixed-use property that includes Fremaux Town Center retail center, multiple multifamily developments, two hotels and the Dana Corporation Service center that will complement this project in the industrial park area.
Stirling Properties recently closed on the sale of a 30-acre land parcel for the construction of the 141,000-square-foot Amazon facility located at 1914 Town Center Parkway near the intersection of Old Spanish Trail. Groundbreaking and construction timing will be announced soon. The facility is expected to be open in early 2022.
Ryan Pécot, Senior Retail Leasing and Development Advisor with Stirling Properties, represented the landlord in the transaction.
Packages are shipped to delivery stations from nearby fulfillment and sorting centers and loaded onto trucks for final delivery to customers. This marks the first Amazon delivery station in St. Tammany Parish and the third in Louisiana. It is expected to house roughly 950 Amazon Prime vans to serve St. Tammany Parish and surrounding communities. There are 150 similar Amazon delivery stations across the U.S. Amazon said the new station would create hundreds of full- and part-time jobs.
“Stirling Properties is excited to officially welcome Amazon to Fremaux Park and provide an ideal location here in Slidell to house this facility—the first of its kind in St. Tammany Parish. This new delivery station is a continuation of our industrial real estate expansion efforts. Logistics, fulfillment and last-mile distribution centers will only play a more critical role in the future of retail and commercial real estate. We hope to attract more industrial facilities to the area to further bolster and support the economic growth of Slidell and our surrounding region,” said Townsend Underhill, President of Development for Stirling Properties.
Fremaux Park is part of the roughly 350-acre regional mixed-use development located at the southwest corner of Interstate 10 and Fremaux Avenue in Slidell, Louisiana. It includes Retreat at Fremaux Town Center luxury residential apartments, The Mason Fremaux Park apartment community (under construction), Springhill Suites by Marriott (under construction) and Dana Inc. Service & Assembly Center. The adjoining Fremaux Town Center, anchored by Dillard’s, Dick’s Sporting Goods, Kohl’s and Best Buy, includes more than 660,000 square feet of retail and restaurant options. Additional phases are forthcoming with added residential, retail, industrial and office park. Fremaux Park is a Stirling Properties development.
For leasing or sales information, contact Ryan Pécot at 337.572.0246 / rpecot@stirlingprop.com or Bradley Cook at 985.246.3720 / bcook@stirlingprop.com.