Stirling Properties and JCH Development Complete Acquisition for Land to Develop Shopping Center in New Orleans
Stirling Properties and JCH Development are pleased to announce the closing of the land acquisition and development financing for Magnolia Marketplace, a 106,000 square-foot shopping center located in New Orleans, LA at the intersection of South Claiborne Avenue and Toledano Street. First NBC Bank of New Orleans provided financing for the project.
“This project required a true partnership and we are excited to be a part of providing new jobs and economic opportunities to the residents, neighborhood, DBE businesses and the City of New Orleans. We are truly grateful for the support and collaboration on this project with the Mayor’s office, the City Council, and the Community, without which this project would not have been possible”, stated Townsend Underhill, Senior Vice President of Development for Stirling Properties.
“We are proud to bring a dynamic new retail development to an underserved portion of Central City. This development will bring a formerly vacant and blighted piece of property in the City of New Orleans back to commerce”, stated Tara Hernandez, President of JCH Development.
Stirling and JCH previously announced the 6,000 square foot initial phase of the Magnolia Marketplace development located at the intersection of South Claiborne Avenue and Fourth Street. Capital One Bank is currently open in that building. T-Mobile and a proposed national sandwich shop are slated to open in early 2014.
Tenants scheduled to open in spring 2015 are Ross Dress For Less, T.J.Maxx, Michaels, PetSmart, Shoe Carnival, ULTA Beauty and Raising Cane’s. The project is 100% pre-leased. The Developers expect to break ground on the project this coming January.
Stirling’s recent projects in New Orleans include Mid-City Market, a 108,000 square-foot Winn-Dixie anchored shopping center located at North Carrollton Avenue and Bienville Street, as well as the full renovation of the former American Legion building located on Magazine Street into a new 13,000 square foot Walgreens Marquee Store. Since 2011, Stirling Properties has invested over $120 million in the City New Orleans.
JCH Development’s most recent project is the conversion of the former Blue Plate manufacturing facility into the Blue Plate Artist Lofts, 72 residential lofts, on South Jefferson Davis Pkwy.
For more information, contact Townsend Underhill at tunderhill@stirlingprop.com or 985-898-2022, or for leasing information contact Rhonda Sharkawy at rsharkawy@stirlingprop.comor 504-523-4481.
Fremaux Town Center – December Update
Fremaux Town Center – As of December 16, 2013
Fremaux Town Center is branded with it’s Interstate pylon now complete. Building construction operations are focused on the March Grand Opening and interior tenant construction continues on the Anchor stores. Individual tenant contractors are expected the first of the year to commence with small shop build outs. Paving and Landscaping installation is progressing with a completion projected for February.
Stay tuned for more updates!
Stirling Properties and CBL & Associates Properties, Inc. Officially Announce New Stores Coming to Fremaux Town Center
Stirling Properties and CBL & Associates Properties, Inc. (NYSE: CBL) officially announce the addition of four new tenants to Phase I of Fremaux Town Center in Slidell, Louisiana. Phase I is approximately 350,000 square feet anchored by Kohl’s, Dick’s Sporting Goods, Best Buy, T.J.Maxx, and Michaels. Construction is moving along as scheduled with a grand opening scheduled for March 2014.
Joining the previously announced tenants are:
- Verizon Wireless, the first national wireless provider in the United States to build and operate a large-scale 4G LTE network, the most advanced wireless network technology available, with speeds up to 10 times faster than 3G.
- Mattress Direct, a specialty retailer of foam, Serta and Tempur-Pedic mattresses.
- Bellagio Nail Spa, a luxury nail care salon committed to providing you the highest standard in salon services, offering manicures, pedicures, waxing and more.
- Anna’s Linens, one of the largest retailers of home textiles and home decor items.
The Developer also recently closed on the sale of 1.13 acres at $19.00 per square foot to the ownership of Panera Bread for its Fremaux Town Center location and scheduled to open April 2014. Once complete, the 80+ acre Fremaux Town Center will consist of two phases. Phase II will include up to 320,000 square feet of additional retail space anchored by Dillard’s and is scheduled to open in Spring 2015.
For leasing information, please contact Ryan Pecot by telephone at 337.572.0246 or by email at rpecot@stirlingprop.com or Rodney Gordon by telephone at 423.553.8704 or by email at rodney_gordon@cblproperties.com.
For information on available outparcels, please contact Ryan Pecot or Robert Snetman by telephone at 423.490.8333 or by email at robert_snetman@cblproperties.com
Stirling Properties Expands Retail & Service Options at River Chase Shopping Center in Covington, LA
Stirling Properties announces a 9,000 SF expansion to River Chase Shopping Center in Covington, Louisiana. Construction recently commenced on the 2-tenant building that will be the future home to Men’s Wearhouse and Bellagio Salon & Spa. Located next to Region’s Bank, both stores will open summer of 2014.
Men’s Wearhouse is one of North America’s largest specialty retailers of men’s apparel, carrying a full selection of suits, sport coats, furnishings and accessories. They are expanding within the center from 1,400 SF to 5,000 SF.
Bellagio Salon & Spa is a regional operator offering quality high-end salon & spa services at affordable prices. Bellagio specializes in facials, full body massages, haircuts, styling & coloring, nails, make-up, permanent make-up, eyelash extensions and waxing.
For more information regarding in-line leasing and outparcel opportunities, contact Rhonda Sharkawy, Senior Retail Leasing & Development Executive for Stirling Properties at rsharkawy@stirlingprop.com or call 504.620.8145.
Fremaux Town Center – November Update
Fremaux Town Center – As of November 18, 2013
Fremaux Town Center is really starting to take shape! Exterior color finishes are being added to the buildings and the Shopping Center’s pylon is rising from its base. The parking field is defined with asphalt, and the lot lighting and landscaping are being installed. The interior work on the specific tenant build-out requirements is taking shape and several tenant contractors will be on site starting in late December.
We are pushing for a March 2014 grand opening for Phase I with the majority of tenants opening by that time, so the next few months will be busy with even more construction. Stay tuned for more updates!
Stirling Properties Announces Opening of New Walgreens in Gulfport, MS
Stirling Properties is pleased to announce the opening of a new full-service Walgreens drugstore in Gulfport, Mississippi, located at the intersection of Pass Road and Interstate 49 at the location of the former Gulfmart Shopping Center. The 13,650 square-foot store has a drive-thru window and full service pharmacy and will serve as a catalyst for future retail development of that corridor. Stirling Properties provided development services, including lease negotiation, financing, and project management, to a third party owner of the property.
As a preferred developer for the Walgreens Company in the Gulf South, Stirling Properties has had a long-standing relationship with the retailer. “Our team has been working successfully with Walgreens for the past 10 years and has delivered over 25 stores with many more in the pipeline”, said Peter Aamodt, Vice President of Development for Stirling Properties. “Stirling is committed to finding new development opportunities for all of our retail clients in the Gulf South.”
For more information, contact Peter Aamodt, Vice President of Development for Stirling Properties, at paamodt@stirlingprop.com or by calling (504) 523-4481.
