Stirling Properties Announces Latest Investment Sale in Mobile, Alabama
Stirling Properties’ agents Justin Toomey and Andrew Dickman recently completed the sale of a 100,000 square-foot United States Postal Service facility in Mobile, Alabama. The industrial distribution warehouse, located at 4538 Shipyard Road, was sold for $3.1 Million on Friday, July 31, 2015. Justin and Andrew represented the seller, Alabama Gulfstar, LLC and a local Mobile based investor group with the acquisition.
For more information regarding investment sales, leasing opportunities or any of your real estate needs contact Stirling Properties at 251-375-2495 or visit www.stirlingproperties.com.
New Stores Coming to Phase II of Fremaux Town Center in Slidell, Louisiana
Stirling Properties and CBL & Associates Properties, Inc. (NYSE: CBL) officially announce twelve additional new tenants coming to Fremaux Town Center in Slidell, Louisiana. Anchored by a 128,000 square-foot Dillard’s, the second phase of this development will include approximately 285,000 square feet of additional retail space, including previously announced tenants Red Robin, Zales, Francesca’s and Aveda. Construction is moving along as scheduled with a planned opening of Phase II this October.
Joining the previously announced tenants are:
- Off Broadway Shoe Warehouse – 17,024 Square Feet
- Forever 21 Red – 16,900 Square Feet
- Pier 1 Imports – 9,000 Square Feet
- Victoria’s Secret – 7,226 Square Feet
- Buckle – 5,000 Square Feet
- Charlotte Russe – 5,000 Square Feet
- LOFT – 4,905 Square Feet
- Bath & Body Works – 3,090 Square Feet
- Torrid – 2,800 Square Feet
- Journeys – 2,175 Square Feet
- Claire’s – 1,204 Square Feet
- Which Wich – 1,267 Square Feet
Currently 100% leased and occupied, Phase I of Fremaux Town Center opened in March 2014 with approximately 350,000 square feet of retail anchored by Dick’s Sporting Goods, Michaels, T.J.Maxx, Kohl’s and LA Fitness. Located on more than 80 acres at the southwest corner of Interstate 10 and Fremaux Avenue in Slidell, Fremaux Town Center will be roughly 635,000 square feet upon completion. With its interstate location and high-visibility, Fremaux Town Center is expected to become a regional shopping destination.
For leasing information, please contact Ryan Pecot at 337-572-0246 or email at rpecot@stirlingprop.com; Rodney Gordon at 423-553-8704 or email at rodney_gordon@cblproperties.com or Tim Gilmore at 423-490-8358 or email at tim_gilmore@cblproperties.com.
Stirling Properties’ Commercial Agents among Top Producers at Annual NOMAR CID Awards Ceremony
Stirling Properties’ commercial agents were honored during the New Orleans Metropolitan Association of Realtors Commercial Investment Division’s 22nd annual awards banquet held Wednesday, April 22, 2015 at GW Fins.
Leading the way was Rhonda Sharkawy, who received the F. Poche Waguespack Award for having the highest volume of sales and leases in the marketplace for the year. This is her fifth consecutive year to receive this honor and one of only a handful of women to achieve it since it was created back in 1964. Ms. Sharkawy was also awarded with Overall Top Retail Producer, Top Landlord Retail Lease and Most Transactions. Gaines Seaman received the Overall Top Office Producer Award and the Top Landlord Office Lease. Joe Gardner, Ms. Sharkawy and Mr. Seaman were also among Achievement Award recipients. Stirling Properties received 1st Place and 3rd Place for the Largest Transaction Award.
Stirling Properties Ranks Among Top 10 Commercial Real Estate Firms in Alabama
Business Alabama recently published their 2015 Top Rank issue and I am happy to report that just a year and a half after opening our first office in Mobile, Alabama, Stirling Properties is ranked among the Top 10 Commercial Real Estate Firms in the State of Alabama.
Since establishing our Mobile office in October 2013, we have worked tirelessly to expand our presence throughout Alabama and eastward into the Florida market. Here are a few highlights:
- CEO Marty Mayer delivered last year’s ACREcon keynote address, introducing Stirling Properties and highlighting the rise of the Gulf Coast.
- We acquired John Toomey & Company, Inc., a commercial real estate company in Mobile with over 20 years’ experience, integrating 1.8 million square feet into our existing managed and leased portfolio.
- Just last month, we relocated our Mobile office into a larger 5,100 square-foot space at One St. Louis Centre in downtown Mobile, a building we also manage and lease.
- At the end of 2014, we opened a new office in Pensacola, Florida, in SunTrust Tower, an office building we also manage and lease.
- In the beginning of this month, we were awarded a contract for leasing and property management of Santa Rosa Mall in Mary Esther/Fort Walton Beach, Florida.
We now total over 2.5 million square-feet of managed properties and 34 employees/brokers in Alabama and Florida – in just a year and a half. I am extremely proud of our latest Alabama ranking and, most importantly, what the Stirling Team has accomplished in the Alabama and Florida markets over this short time frame. We are strongly committed to serving the entire Gulf South and look forward to serving our clients throughout Alabama and Florida from our Mobile, Pensacola and Mary Esther/Fort Walton Beach offices.
Stay tuned for another exciting announcement in the next few weeks!
Pan-American Life Insurance Group Renews Poydras Street Lease and Reaffirms Commitment to New Orleans
Stirling Properties and Pan-American Life Insurance Group (PALIG), a leading provider of insurance and financial services throughout the Americas, announced this morning that they have renewed the lease on their 601 Poydras Street corporate headquarters office space through 2024.
“601 Poydras has been home to Pan-American Life’s corporate headquarters since 1981,” explained José S. Suquet, Chairman of the Board, President and CEO of Pan-American Life Insurance Group. “And while our business has grown to include operations all over the Americas, New Orleans remains an essential cornerstone of our corporate identity as well as our business strategy.”
The lease renewal is a reflection of Pan-American Life’s commitment to the city in which it was founded, more than 100 years ago. “We strive to have a positive impact on all the communities that we serve and that’s especially important here in our home city whether it is by creating Louisiana based jobs through our domestic business or being a socially responsible corporate citizen,” Suquet added. “You can see through our partnerships with the Louisiana Philharmonic Orchestra; United Way; and the Hispanic Heritage Foundation, that we are dedicated to investing in the arts, education, community development and public safety thereby making significant contributions to the growth of New Orleans and the wellbeing of all its residents.”
“Pan-American Life’s renewed lease of their headquarters is further testament of the commitment they have to the City of New Orleans,” stated Marty Mayer, President and CEO of Stirling Properties. “Stirling Properties is proud to have worked with them as we continue to expand and increase the tenancy at Pan-American Life Center.”
Pan-American Life will also retain the building’s naming rights, ensuring that the Pan-American Life Center will continue to be a landmark in the Central Business District.
Stirling Properties’ Beezie Landry Closes on Sale of Three Investment Properties
Stirling Properties’ Beezie Landry, Senior Sales and Leasing Executive, closed on the sale of three investment properties recently totaling over $15 million. In each of these transactions, Mr. Landry represented the Seller.
CVS
9006 Greenwell Springs Rd, Baton Rouge, LA– 13,824 SF
Patrick Luther & Matthew Mousavi of Faris Lee Investments assisted in the sale.
Buyer: Private New York based investor in a 1031 exchange.
Seller: Private Louisiana based investor
Price: $4.75 million
CVS has approximately nine years remaining in the lease as well as an option to extend the lease for up to another 20 years.
Park Plaza
3005 – 3147 Highway 14 (Gerstner Memorial Drive), Lake Charles, LA– 172,949 SF
Anchor: Conn’s
Buyer: Private Houston based investor
Seller: Weingarten Realty Investors
Price: $6 million
Value add opportunity with 40% vacancy
Woodmere Crossing
1540 Eastern Boulevard, Montgomery, AL– 42,257 SF
Co-listed with Jeff Barnes of Stirling Properties Mobile, Alabama office, as well as in connection with Auction.com.
Tenants: Petco, Books-A-Million, Jason’s Deli, and Sally Beauty Supply
Buyer: BV Belk Properties based in North Carolina
Seller: Woodmere Crossing was a lender owned property
Price: $4.4 million
Investment Sales is a linchpin to our brokerage division. Whether it’s achieving goals of a buyer or seller, Stirling can meet your needs. Our professionals are versed in asset acquisitions and dispositions of income-producing, distressed, vacant and REO properties. From institutional to private investors, we assist in finding and securing assets that have opportunities for added value and improved performance as well as assets with stabilized risk-adjusted returns.
For more information regarding Investment Sales contact Beezie Landry blandry@stirlingprop.com or 985-898-2022.
