Sale of 220 West Garden Office Tower in Pensacola, Florida
Stirling Properties will resume management & leasing of the property
Rendering of proposed exterior renovations of 220 West Garden
Stirling Properties commercial real estate company is pleased to announce the closing on the sale of 220 West Garden (former SunTrust Tower) in Pensacola, Florida. The 95,329-square-foot, 10-story office tower was purchased by Civic Conversations, LLC, which is part of the Studer Family of Companies.
Jason Scott, Sales & Leasing Executive with Stirling Properties, worked on behalf of the seller on the property transaction. Stirling Properties will also resume the management and leasing assignments of the property. Exciting new renovations for the building are expected to commence in November of this year, with completion anticipated for the fourth quarter of 2018.
“We are glad that one of Pensacola’s most iconic buildings is going to continue to serve the Pensacola community in a fresh, new way,” said Scott. “We are equally excited at the opportunity to work with Studer Properties, LLP and its team to provide them with quality management and leasing services that complement Studer’s core mission for improving the quality of life.”
Studer’s plans for the property include a significant capital investment with the goal of turning it into a place for community discussions and dialogue, to host expert speakers on issues important to Pensacola, and create an open public space for citizens to meet and enjoy downtown, and a best-in-class event center.
While most of the building will remain a multi-tenant office tower, the renovation plans include converting the 17,000-square-foot ground floor into a community interaction area with café, lecture space, and an environment for other community gatherings. The existing exterior open space will become an urban plaza for musical events, outdoor movies, and other seasonal activities. The building’s ninth floor will include an observation room for visitors.
Rendering of proposed interior renovations of 220 West Garden
“Our goal has always been to improve the quality of life for people in Northwest Florida. Through our commercial ventures, we hope to help our community and our local businesses be more productive and profitable, which translates to more jobs and a better trained workforce,” said Quint Studer.
“Stirling Properties is proud to retain 220 West Garden as part of our commercial portfolio in the Pensacola region. We look forward to working with the Studers and their organization in its core mission to make Pensacola the best place to live and work,” said Will Barrois, VP & Regional Manager for AL/FL with Stirling Properties.
Stirling Properties is located at 220 West Garden Street, Suite 802 in Pensacola, Florida. Click here for more information regarding our services.
2015: A Big Year for Pensacola
With Stirling Properties’ having an office in Pensacola for just over a year now, I can say it is exciting to experience first-hand the revitalization of downtown Pensacola and the economic energy happening along Florida’s “western gate”. 2015 was a vital year for economic development, job creation and community vitality in Pensacola, Florida.
The most significant single event that is shaping the future of Pensacola’s economy, by creating the most jobs and bringing in the largest investment, is Navy Federal Credit Union’s $850 million two-phase expansion of its Pensacola Campus. Phase 1 of the expansion began in early 2015, and both buildings are expected to be ready for occupancy in June 2016. These buildings will house an additional 2,000 employees. Phase 2’s ground breaking is expected to begin in November 2016 and will bring an additional 5,000 work stations. By 2020, the Pensacola campus will total 2 million square feet of space and $1 billion in capital investment; employing 10,000 people.
Downtown Pensacola saw several major projects that either began or were completed in 2015.
- One Palafox Place is a complete renovation of historic Brent and Blount Buildings. The restoration and redevelopment will transform it into a new live, work play community.
- The Pensacola News Journal building at 101 E. Romana Street was demolished and construction for a $51 million, 260-unit apartment and retail building will begin in early 2016.
- Adjacent to the apartments is a new 52,000 square foot, $15 million YMCA that will be competed in late 2016.
- The Florida Institute for Human and Machine Cognition’s Alcaniz Street headquarters will be ready in March 2016. This expansion will take their office and workspace to 30,000 square feet.
- One51 Main at the Community Maritime Park is complete and ready for occupancy. This 27,000 square foot, mixed-use development on Pensacola Bay will house office, retail and condominium space.
- A 100-room Holiday Inn Express located on Main Street is under construction and will open in late 2016 or early 2017.
The Bluffs, an industrial park near Cantonment, Florida, will host up to 60 individual industrial sites and bring 5,000 new jobs.
A contract with VT Mobile Aerospace to build a $38 million aircraft maintenance and overhaul facility at Pensacola International Airport is setting Pensacola up as an aerospace hotspot. The large hanger facility will begin construction during the second half of 2016 and is expected to create 300 jobs.
Hosted by the University of West Florida’s Center for Entrepreneurship, EntreCon, a two-day conference for entrepreneurs at the Rex Theater, was successfully launched in November 2015. Over 225 people attended and EntreCon 2016 is already scheduled for November.
2016 brings big economic growth opportunities in entrepreneurship, cybersecurity and aviation. I can’t wait to see what else is in store for Pensacola in 2016.
Stirling Properties’ Angela McArthur Secures Two Locations for Five Guys Burgers and Fries
Earlier this month Angela McArthur, Broker Associate with Stirling Properties, closed on two locations for Five Guys Burgers and Fries in Florida.
Downtown Pensacola will be enjoying Five Guys this fall at 440 E Chase St next to Newk’s Eatery, who just recently redeveloped a former Wintzell’s. The second restaurant will be located at 4796 Highway 90, Suite 3, Pace, Florida and will open in the spring. The building is being developed by Trademark Properties of Pensacola and will break ground in the coming weeks.
For more information regarding these transactions contact Angela McArthur at 251-375-2481 or amcarthur@stirlingprop.com.
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!
Stirling Properties Awarded Contract for Leasing and Property Management of Santa Rosa Mall in Mary Esther, Florida
Stirling Properties has been awarded a contract to provide comprehensive leasing and property management services for Santa Rosa Mall in Mary Esther, Florida. Santa Rosa Mall continues to be the retail destination for Mary Esther/Ft. Walton Beach since its inception in 1976.
Anchored by Dillards, JC Penney, Sears, Planet Fitness and Regal Theater, this 734,000 square foot enclosed mall sits on approximately 75 acres on Mary Esther Boulevard. Additional tenants also include Old Navy, PacSun, Panera Bread, Shoe Dept./Encore, Starbucks, Rue21 and Victoria’s Secret.
“We are excited to welcome the entire Santa Rosa team, led by David Macdonald, to the Stirling Family,” stated Will Barrois, Vice President/Regional Manager of Stirling Properties. “In addition to the local group, we have assembled a great leasing and development team and will work to make the property vibrant again in the local community.”
“Stirling Properties brings forty years of experience in the Gulf South with them and we look forward to being a part of the exciting changes in store for Santa Rosa Mall,” says David Macdonald, General Manager.
Stay tuned for exciting news on Santa Rosa Mall! For national leasing prospects, contact Rhonda Sharkawy at 800-330-4481 or rsharkawy@stirlingprop.com and for local/regional prospects please contact Jason Scott at 850-418-6783 or jscott@stirlingprop.com.
Stirling Properties Opens New Office in Pensacola, Florida, To Further Expand Gulf South Presence
Stirling Properties is pleased to announce the opening of a new office in Pensacola, Florida, in SunTrust Tower at 220 West Garden Street, Suite 802. As the company’s first location in Florida, the office joins 12 other offices located in Louisiana, Mississippi and Alabama to further strengthen Stirling Properties’ presence in the Gulf South. Will Barrois, Vice President and Regional Manager of Alabama/Florida, oversees all business development throughout the region.
“Stirling’s expansion into the Panhandle of Florida is yet another important step in the long-term strategic plan of servicing the entire Gulf Coast market,” stated Marty Mayer, President and CEO of Stirling Properties.
Stirling Properties will continue to handle the full-time management and leasing of SunTrust Tower. The 9-story, 95,000 square-foot office tower has been the premier office address in the downtown market for 40 years. Jason Scott, Senior Sales and Leasing Executive/Property Manager, transferred from Stirling’s Mobile office to the Pensacola office, where he will oversee the management and leasing of SunTrust Tower. Holding a broker’s license in both Alabama and Florida, Mr. Scott will also be responsible for expanding third party brokerage and management opportunities in Northwest Florida. With over 35 years’ experience in commercial real estate, Mr. Scott began his career in Pensacola and is excited to be part of Stirling’s expansion into Florida.
“Handling the management and leasing of SunTrust Tower gives us a great opportunity to expand Stirling’s footprint into the Florida Panhandle,” stated Will Barrois. “We are looking forward to serving our existing clients and expanding the full complement of property management, brokerage, acquisitions and development from our new Pensacola office.”
For your commercial real estate needs in Florida, contact Stirling Properties at the new office located at 220 West Garden Street, Suite 802, Pensacola, Florida, or call (850) 418-6792.
