Deals

Eight National Retailers Prepare to Open Spring 2012

COVINGTON, Louisiana —- (SEPTEMBER 23, 2011) Stirling Properties announces River Chase Shopping Center Phase Two, which broke ground in August, and the addition of eight new national tenants that will bring 85,000 square feet of retail space to River Chase as part of an expansion to the development’s existing shopping center.  All stores are expected to open spring 2012 and will occupy built-to-suit space located within the center’s southern end, south of Brewster Road.

Five of the eight national tenants have signed leases.  They are as follows:

• Michaels, the largest specialty retailer of arts, crafts, framing, floral and more, will occupy 28,290 SF.  This will be the retailer’s second location in Western St. Tammany with a store already in Mandeville.
• Chuck E. Cheese’s, a leader in the family dining and entertainment industry, will occupy 15,400 SF.  This will be the second St. Tammany Parish location for the retailer and first for Western St. Tammany.
• ULTA Beauty, the largest beauty retailer providing prestige, mass and salon products and services, will occupy 10,000 SF. This location will be the retailer’s first within the New Orleans Metro and fifth in Louisiana with stores in Baton Rouge, Hammond, and Shreveport and coming soon to Bossier City.
• Charming Charlie, an affordable women’s fashion accessory boutique, will occupy 8,000 SF. This location will be the retailer’s first within the New Orleans Metro and fourth in Louisiana with stores in Lafayette, Baton Rouge and Hammond.
• Carter’s, a leading brand of children’s clothing, gifts and accessories, will occupy 4,300 SF.  This marks the retailer’s third location in Louisiana with a store already in Bossier City and an outlet center in Gonzales.

The remaining three national tenants are in lease and will be announced in the near future.  Of them, one is a soft-good tenant that will occupy 8,500 square feet.  This will mark their first location in Louisiana; a significant move for the retailer and tremendous economic opportunity for St. Tammany Parish.  The other two will be great additions to the well-established co-tenancy at River Chase Shopping Center, occupying 3,600 and 5,300 square-foot spaces.

“The expansion of the River Chase Shopping Center is a strong show of the strength of the Western St. Tammany retail market and the continued growth that this market is seeing,” said Stirling Properties’ Vice President of Development Townsend Underhill.  “It is very exciting to see such highly regarded national retailers enter the Western St. Tammany market for the first time and we know they will be successful at River Chase.”

This announcement comes on the heels of the official announcement that Wal-Mart Stores, Inc. will build an upscale Sam’s Club at River Chase which is scheduled to open in fall 2012 – just months after these multiple retailers open.

On top of the new retail activity at the River Chase Shopping Center, the entire River Chase development is experiencing new growth.  Brewster Commons at River Chase is currently renting 1, 2 and 3 bedroom luxury apartment homes for November occupancy.  Holiday Inn Express and Fidelity Homestead Savings Bank are also set to begin construction at River Chase later this year.  As well, a 42-acre office park is now pre-leasing 157,400 square feet of space which will be located east of Stirling Boulevard across from the new Sam’s Club location.

For more information about the River Chase development contact Townsend Underhill at tunderhill@stirlingprop.com or call (985) 898-2022.

For information about new construction opportunities, one to six acre outparcels for sale and retail leasing inquiries, contact Rhonda Sharkawy, Retail Leasing & Development Executive for Stirling Properties, at rsharkawy@stirlingprop.com or call (504) 523-4481.

For information about the Offices at River Chase contact Lee de la Houssaye, Leasing and Sales Associate for Stirling Properties, at ldelahoussaye@stirlingprop.com or call (985) 246-3774.