Stirling Properties’ Beezie Landry Closes on Sale of Five Investment Properties in September
Stirling Properties’ Beezie Landry, Senior Sales and Leasing Executive, closed on the sale of five investment properties in September totaling over $38 million. In each of these transactions, Mr. Landry represented the Seller.
Two single tenant Rouses Markets
2851 Belle Chasse Highway, Gretna, LA– 57,644 SF
Buyer: Rouses Market
Seller: Private New York based investor
50 Park Place, Covington, LA – 57,206 SF
Buyer: Rouse / Kingsmill, L.L.C.
Seller: Private New York based investor
Westwood Village
Southwest Corner of West Congress Street and Bertrand Drive, Lafayette, LA– 138,034 SF
Co-Listed with Charles Cornay, Senior Sales Executive for Stirling Properties
Multi-tenant grocery anchored shopping center
Anchor Tenants: Rouses Market, CVS, and Stage
Buyer: Private Lafayette based investor completing a 1031 exchange
Seller: Weingarten Realty Investors
Single Tenant Walgreens
2001 Carol Sue Avenue, Gretna, LA– 17,238 SF
Developed and sold by Stirling Properties
Brand new 25 year deal
Sold at a cap rate of 5.55%
Executed contract to closing was only 26 days
Buyer: Realty Income Corporation
Seller: Private Investor Group led by Stirling Properties
Winn Dixie
804 West Oak Street, Amite, LA– 49,771 SF
Winn Dixie recently renewed lease for 10 years
Executed contract to closing was only 22 days
Buyer: American Realty Capital Properties
Seller: Southland-Amite WD (a Chicago based investor)
“Year to date Beezie has closed on approximately $60 million in Investment Sales representing both Buyers and Sellers,” stated Chris Abadie, Vice President and Manager of Commercial Brokerage at Stirling Properties. “The clients he has represented have been publicly traded REITs as well as private investor groups on deals that include single tenant, ground leases and multi-tenant grocery anchored shopping centers.”
Investment sales is a linchpin to our brokerage division. Whether it’s achieving the goals of a buyer or seller, Stirling can meet your needs. Our professionals are versed in asset dispositions whether the property is income-producing, distressed, vacant or REO. From institutional investors to private investors, we help buyers find and secure assets that have opportunities for added value and improved performance, or assets with stabilized risk-adjusted returns.
For more information regarding Investment Sales, contact Beezie Landry blandry@stirlingprop.com or 985-898-2022.
Stirling Properties Completes Acquisition of Ansley Place Apartments in Houma, LA
Stirling Communities II, LLC, an entity of investors led by Stirling Properties, successfully completed their acquisition of Ansley Place Apartments. Ansley Place is a 246-unit “Class-A”, luxury garden-style apartment community located at 100 Ansley Place Court in Houma, Louisiana. Completed in 2008, the Property encompasses thirteen (13) two- and three-story apartment buildings, one (1) single-story leasing office, and four (4) single-story garage buildings on 21 acres of land. The deal closed on April 1, and involved the assumption of an existing HUD 223(f) loan on the property.
“We believe the frenzied activity at Port Fourchon resulting from the return of Gulf exploration, significant expansion projects currently underway at several key service firms in the Houma area, the fully booked pipelines at the shipyards of Edison Chouest and Bollinger, and the various coastal restoration projects either underway or planned, will lead to a substantial increase in the population and employment base of the Houma area over the next five years. With its excellent location, superior floor plans, and premier status in the market, Ansley Place offers our investors a high quality asset located directly in the path of Houma’s growing economy. ,” said Justin Landry, head of Multi-Family Asset Management for Stirling Properties.
“Multi-family is an asset class that Stirling Properties has grown very bullish on in recent years based upon the demographic and economic trends in the nation,” stated Marty Mayer, President and CEO of Stirling Properties. “With the addition of Ansley Place Stirling Investors’ portfolio has grown to more than1,000 units, a significant milestone considering three years ago they did not own a single unit.”
BH Management Services, based in Des Moines, Iowa, runs the day to day activities of the property as is the case with all of Stirling’s 1,042 units.
For more information about Stirling Properties Acquisition Team and its objectives contact Jeff Marshall at (985) 246-3765 or jmarshall@stirlingprop.com.
Stirling Properties Breaks Ground for New Restaurant at Stirling Bossier Shopping Center
Santa Fe Cattle Company Restaurant to Open in Fall 2012
BOSSIER CITY, LA – Stirling Properties, developer and property manager of Stirling Bossier Shopping Center, announces the construction of a new 7,918 square foot Santa Fe Cattle Company Restaurant, a roadhouse style steakhouse, located on the outparcel adjacent to the Progressive Bank building, fronting Airline Drive. Santa Fe is expected to open at Stirling Bossier in early fall 2012.
Headquartered in Baton Rouge, Louisiana, Santa Fe Cattle Company operates in 6 states with 17 locations. Within Louisiana, they have locations in Hammond, Prairieville and Ruston, making the Stirling Bossier restaurant the fourth in the State. The Hammond location, which opened in June 2009 at Hammond Square, is another Stirling Properties retail development.
Rhonda Sharkawy who represents Stirling Bossier Shopping Center and who brokered the transaction commented that “Santa Fe Cattle Co. will give guests of Stirling Bossier further variety in dining options and enhances the overall make-up of the Shopping Center.”
For additional leasing and sales opportunities at Stirling Bossier Shopping Center, contact Rhonda Sharkawy at (504) 620-8145 or rsharkawy@stirlingprop.com.
Mid-City Market Groundbreaking Signifies Stirling Properties Milestone
Pictured (L-R): Grady Brame of Stirling Properties, Tommy Buckel of Duplantis Design Group, Chip Verges of VergesRome Architects, Joey Medina of Winn-Dixie, Chip Songy of Stirling Properties, Lewis Stirling of Stirling Properties, New Orleans Mayor Mitch Landrieu, District A Councilwoman Susan Guidry, Marty Mayer of Stirling Properties, Aimee Quirk - City of New Orleans Mayor’s Office, Townsend Underhill of Stirling Properties, and Jack Donahue of Donahue Favret
NEW ORLEANS, Louisiana —- (MARCH 20, 2012) Earlier today Stirling Properties commemorated the groundbreaking of Mid-City Market, the highly anticipated urban shopping center development located along the North Carrollton Avenue commercial corridor in New Orleans, Louisiana. Opening in early 2013, Mid-City Market will complement the proposed Lafitte Greenway pedestrian and bicycle pathway that will border the shopping center.
The 107,713 square foot, Winn-Dixie anchored shopping center represents Stirling Properties continued investment in the New Orleans market and one of the most significant retail developments in the city since hurricane Katrina.
The Honorable Mayor Mitch Landrieu commented that, “Mid-City Market is critical for the continued revitalization of this important corridor. Though they were once blighted and vacant properties, this project will bring properties back into commerce and will interact nicely with Lafitte Greenway, which itself will spur activity and redevelopment across the city. Mid-City Market will bring hundreds of new jobs, new sales and property tax dollars and improved quality of life for Orleans Parish residents.”
“This project embodies the strength of the New Orleans recovery and represents yet another important step in bringing retail back to the city,” stated Lewis Stirling, Executive Vice President of Stirling Properties. “We are pleased to be moving forward with the Mid-City Market project which represents yet another significant milestone in our Company’s history.”
Stirling Properties has a 37 year history of real estate development, management and commercial brokerage throughout the Gulf South. In the past few years investment in the city of New Orleans has become a focus in Stirling Properties development strategy. Since Katrina, the redevelopment of Bultman Funeral Home into Borders Bookstore and later Fresh Market Grocery, the acquisition of the Pan American Life Building, and the company’s current redevelopment of the American Legion Hall on Magazine Street into an upscale Walgreens Drugstore all exemplify Stirling Properties renewed commitment to the City of New Orleans.
Stirling Properties’ Townsend Underhill, Vice President of Development says that, Stirling Properties will continue to work on a number of other potential projects in the city of New Orleans and hopes Mid-City Market will be the springboard to furthering the recovery in New Orleans.
To commemorate the groundbreaking event Mayor Mitch Landrieu, Councilwoman Susan Guidry and Regional VP of Winn-Dixie, Joey Medina, along with Stirling Properties’ Marty Mayer, President and CEO, Lewis Stirling, Townsend Underhill, tenant representatives from the development and the Mid-City Market design and construction team of VergesRome Architects, Duplantis Design Group and Donahue Favret Contractors Inc. were in attendance.
Tenants with executed leases in the development include Office Depot, Neighborhood Pet Market by Jefferson Feed, Felipe’s Taqueria, Pinkberry Frozen Yogurt, Five Guys Burgers and Fries, and Pei Wei Asian Diner. Mid-City Market is 80% pre-leased with other tenant announcements forthcoming. Additional lease space is also available. For more information contact Chris Abadie, Vice President and Manager of Stirling Properties’ Commercial Brokerage Division, at (985) 246-3721 or cabadie@stirlingprop.com.
For more information about the development of Mid-City Market, contact Townsend Underhill at (985) 246-3785 or tunderhill@stirlingprop.com.
Stirling Properties Buys Land to Develop Urban Shopping Center in New Orleans
NEW ORLEANS, Louisiana —- (FEBRUARY 16, 2012) Stirling Properties is pleased to announce the closing of the land acquisition and development financing for Mid-City Market, a 107,713 square-foot, Winn-Dixie anchored shopping center located in New Orleans, LA along the North Carrollton Avenue commercial corridor. Mid-City Market’s many amenities will include terraced outdoor seating and pedestrian plazas, benches, bike racks, trellises, and native landscaping throughout to compliment the proposed Lafitte Greenway pedestrian and bicycle pathway which will border Mid-City Market. (more…)
Multiple Store Openings at Hammond Square Shopping Center
HAMMOND, Louisiana —- (JANUARY 12, 2012) Stirling Properties, developer and property manager of Hammond Square, announces the addition of CATO and Bellagio Salon & Spa to its tenant lineup.
CATO, a leading specialty retailer of value-priced women’s fashion apparel, jewelry, shoes and accessories in women’s sizes 6-26 and girl’s sizes 7-16, will open their second Hammond, LA store at 455 Palace Drive. (more…)
