Halloween at Hammond Square
Calling little ghouls, goblins, princesses and superheroes to celebrate Halloween at Hammond Square!
Many children in Hammond, Louisiana, will be getting a head start on Halloween this year. Hammond Square is celebrating its 4th Annual Halloween at the Square event on Saturday, October 21st from 6-8pm for children ages 12 and under. The event is free and open to the public. Costumes are highly encouraged. Kids are invited to trick-or-treat at Hammond Square’s participating stores that will be stocked with candy and prizes throughout the evening. Visitors can start at any trick-or-treat station on Main Street. (Look for the trick-or-treat station sign to identify participating stores.)
Halloween at the Square is Hammond Square’s premier family-friendly event of the year. It offers Hammond area residents a safe, convenient and fun trick-or-treating experience, while providing increased traffic and exposure for the many great retail tenants at the shopping center. Last year’s event hosted more than 400 children and families!
“Hammond Square is a proud supporter of our community and we love inviting our neighbors out for fun, family entertainment. Halloween at the Square offers a safer, brighter and less scary atmosphere for children and their parents,” said Lindsey Palmer, Director of Property Services with Stirling Properties. “And we hope Halloween visitors will remember our stores for the upcoming holiday shopping season.”
According to an annual survey released earlier this month by the National Retail Federation and Prosper Insights & Analytics, Americans are expected to splurge on costumes and candy for a record $9.1 billion in Halloween spending this year—an increase of 8.3% from last year’s previous record of $8.4 billion. Additionally, 179 million Americans are expected to partake in Halloween festivities, up from 171 million in 2016, and a record number of adults (48%) plan to dress in costume this year. Those retail numbers are very encouraging for many local shopping centers this year—including Hammond Square.
Hammond Square is Tangipahoa Parish’s premier shopping destination, located on approximately 100 acres at the northwest corner of Interstate 12 and US Highway 51 Business (SW Railroad Avenue) in Hammond, Louisiana. Anchored by Dillard’s, Target, Sears, JCPenney, Academy Sports+Outdoors, and AMC Theatres, the 850,000-square-foot shopping center offers a dynamic mix of national and local retailers, shops and restaurants. Stirling Properties redeveloped Hammond Square and currently manages and leases the center.
Tenants include Academy Sports+Outdoors, Albasha Greek & Lebanese Restaurant, AMC Theatres, America’s Best, Bellagio Salon & Spa, Best Buy, Books-A-Million, Bra la Vie, Cato, Charming Charlie, Chase, Claire’s, Dillard’s, East of Italy, Foot Locker, GNC, Great American Cookies, Hibbett Sports, JCPenney, Justice, Kay Jewelers, LA Nails Spa, maurices, Menchie’s Frozen Yogurt, Nagoya Sushi & Japanese Steakhouse, Norris & Co. Salon, Obsession, Olive Garden, Popcorn Bistro, Raising Cane’s, Rite Aid, rue21, Santa Fe Cattle Co., Sears, Shane’s Rib Shack, Shoe Dept. Encore, Smoothie King, Sport Clips, Tailored, Target, The Children’s Place, The Home Depot, T.J.Maxx, ULTA Beauty, Verizon, Which Wich Superior Sandwiches, and Zales.
Connect with Hammond Square on the web at www.hammondsquare.com or “like” us on facebook.com/hammondsquare.
GO VOTE: Saturday, October 14th
Louisiana has an important election coming up this Saturday, October 14th. Sadly, the majority of our state’s residents either aren’t aware of it, or simply don’t plan to show up. The Louisiana Secretary of State has predicted that only 12-15% of voters will turn out to the polls this weekend.
There are many vital leadership positions on the ballot, including Louisiana State Treasurer, legislators, and public service commissioner. There will also be several amendments and millage renewals, as well as local government posts such as New Orleans Mayor and City Council up for voting. These are all critical items that will significantly affect our local communities and state as a whole.
As a business leader in the commercial real estate industry (and a Louisiana resident), one noteworthy item is the importance of voting YES on Constitutional Amendment #1—(Act 428-SB14) exemption of property taxes for construction sites. A vote of YES is a vote AGAINST more taxes.
Constitutional Amendment #1 would prohibit the assessment of property taxes on any project while it is under construction. Prohibiting the property tax assessment on “Construction Work In Progress” or CWIP as it is commonly referred to, has been the practice for generations in Louisiana. But, new threats to levy these taxes have arisen, and protection in the Constitution is needed. Voting YES will maintain the existing tax law that says you can’t assess a property—home or business—until the project is complete.
This amendment is supported by many businesses, community leaders and Louisiana editorial boards. The statewide police jury association, home builders, the municipal association, business groups, the sheriff’s association, contractors and economic development leaders have all joined the Governor and a bipartisan list of legislators supporting its passage.
Furthermore, the passage of this amendment will not take revenue away from our local governments and municipalities because it is not assessed now. The amendment simply closes a perceived loophole that will allow the chance for increased property taxes in the future.
It’s important to note that this amendment will affect all of us. Homeowners, businesses, even future economic development and employment opportunities for our area will be impacted. Many Louisiana residents are already dealing with increased flood insurance rates, we certainly don’t need an increase in property taxes or higher mortgages as well.
Personally, I think that alone is a pretty important reason to show up to the polls on Saturday. With so much divisiveness and frustration in our state and government, voting is the one sure way to let our elected officials know what we want.
I strongly encourage everyone to please take a few minutes out of your day on Saturday, October 14th to get out and vote—especially YES to Constitutional Amendment #1. Share this information with your co-workers, friends and family. Post it to your social media accounts—anything to help get the word out. Let your voice be heard.
To see a sample of what will be included on your local ballot, visit www.geauxvote.com.
See you at the polls.
Golf Fore! Good 2017
Local charities score during Stirling Properties’ Annual Stirling Invitational Golf Tournament
Stirling Properties hosted its 17th Annual Stirling Invitational Golf Tournament on Monday, October 9th at University Club Plantation in Baton Rouge, Louisiana. 114 golfers participated in the scramble event and were treated to a great day of food, fun and fellowship—along with a little friendly competition—all for a good cause.
Congratulations to the 1st Place Low Net winners, Jerry Berggren, Keith Bischoff, Jared Giovingo and Steve Lousteau. The Low Gross winning team included Rick Perry, Scott Brame, Sr., Scott Brame and Jimmy Maurin. The Longest Drive award went to Blake Bailey, and Closest to the Pin prizes were presented to Keith Rotolo, David Wascom and Kasey Dorr. Additional awards were given for 2nd, 3rd and 4th Low Gross and Low Net as well as Highest Gross Score (you know who you are).
Grady Brame, Stirling Properties Executive Vice President, and Todd Stevens, Mary Bird Perkins Cancer Center President and CEO
But the real winners were the local nonprofit organizations that benefited from the proceeds. This year’s tournament successfully raised more than $25,000 for local charities! In support of Breast Cancer Awareness month, Mary Bird Perkins Cancer Center Foundation received $10,000 from the proceeds. The remaining profits were distributed to various local charitable causes.
Representatives from Mary Bird Perkins Cancer Center Foundation were on hand to receive a check for their contributions. Grady Brame, Executive Vice President with Stirling Properties, presented a check to Todd Stevens, President and CEO of Mary Bird Perkins Cancer Center during an awards celebration and cocktail reception following the tournament. Rick Perry, President and CEO of Tiger Athletic Foundation, was also presented with a $1,000 check in honor of the LSU Golf Team.
“Despite a challenging weekend due to Hurricane Nate threatening the Gulf Coast, the 17th Annual Stirling Invitational Golf Tournament proceeded as planned and was a huge success,” said Brame. “We were once again able to raise funds for local nonprofit organizations that are doing such great work right here in our communities. We are grateful for the generosity of our tournament sponsors and thank everyone who came out to support us. See you next year!”
The Stirling Invitational Golf Tournament has contributed more than $214,000 to numerous organizations over the past 17 years, with Mary Bird Perkins Cancer Center Foundation being the majority beneficiary of proceeds. Since 2004, $127,000 has been donated to the center in support of its cancer research and care-giving efforts.
Thank you to all of our friends and supporters who participated and contributed to the Stirling Invitational Golf Tournament. This event would not be possible without you.
#StirlingProud
Additional sponsors include Netchex, Newmark Knight Frank, Metairie Bank, Real Estate Tax Group, Big Easy Parking Lot Maintenance, Gulf South Electric, Dixie Office Products, Geiger Heating & Air, Jones Fussell LLP, PMAT Real Estate Investments LLC, Premier Service Team, Premium Parking, River Parish Disposal, Ryan Gootee General Contractors, SCS Electric Inc., Southeastern Waterproofing, Trimark, CMC (Calcasieu Mechanical Contractors), Angelos Landscaping, Champion Security, Cook Moore & Associates (Cornerstone), Cost Segregation Services Inc. (CSSI), Huseman, Jeffrey Lipp Parking Lot Services, Precision Concrete Cutting of Louisiana, Professional Mechanical, Resource Bank, Southeastern Contracting, Unit Design, Thermal Products, Grass Unlimited, and Sign Lite. A huge shout out to Fidelity Bank for sponsoring lunch.
Commercial Real Estate Advocacy
Stirling Properties recently had the opportunity to participate in the ICSC Strategic Leadership Summit (SLS) Fly-In to Washington, DC. My colleagues—Townsend Underhill, Sr. VP of Development; Will Barrois, VP & Regional Manager AL/FL; and Jimmy Maurin, Stirling Properties founder—and I joined nearly 200 industry representatives from 35 states on Capitol Hill to create awareness and advocate for issues that are critical to the commercial real estate industry—OUR industry.
During this drastically changing and erratic political environment, many critical topics that affect our business are on the legislative table. Now, it is more obvious than ever that we must have a seat at that table to help shape laws and regulations that will surely impact all of us. It is essential that we create a strong, united approach to educating elected officials and bringing these issues to their attention.
While at the SLS, a Louisiana delegation met with several political leaders, advisors, and staff, including Senator Bill Cassidy, Senator John Kennedy, Congressman Ralph Abraham, Congressman Garret Graves, Congressman Cedric Richmond, and representatives from Congressman Steve Scalise’s office. A small group of us were also able to briefly talk with Senate Majority Leader Mitch McConnell.
Townsend Underhill, Andy St. Romain, Jimmy Maurin, Congressmen Graves, Marty Mayer, Ken Lamy
While there are many areas of concern regarding legislative policy that will affect the real estate industry, there are three major issues that we have prioritized—Tax Reform, ADA Reform, and E-Fairness.
Tax Reform is by far the most critical of the issues we are facing because it is the most uncertain and could potentially have the most devastating effects. Even though there has been a great deal of discussion regarding the generalities of reform, specifics of any legislation have yet to be determined.
As some of you may remember, the last major tax reform in 1986 represented the largest ever tax imposed on the real estate business. Taxation policy changes to the elimination of any transition rules and the treatment of pass-through entities hammered our industry and caused many companies to nosedive. The law had a considerable detrimental effect on our industry, the financial markets, and the economy in general, from which it took years to recover.
And now, numerous impactful tax reform policies are back in the spotlight—everything from Border Adjustment Tax (BAT) to the elimination of Interest Deduction and Like-Kinded Exchanges. As these discussions are taking place, it is critical that we convey a solid, informed message so our government representatives understand the ramifications of the policies that they set. To learn more about these tax reform policies, click here.
The ADA Education and Reform Act, H.R. 620, is aimed at improving compliance and discouraging abusive lawsuits over trivial issues mostly in an effort to collect attorney’s fees. This bill closes a loophole that has unintentionally contributed to the significant growth in federal “drive-by” lawsuits, which have increased 37% from 2015-2016.
At the same time the legislation adds safeguards that incentivize the remedy of alleged violations without taking away the right to pursue negligent business owners who ignore compliance. Congressman Ralph Abraham is a co-sponsor of this bill and we need to maintain bipartisan support. To learn more about ADA reform, click here.
E-Fairness legislation continues to be a major challenge, but it is recently gaining broader traction. H.R. 2193, the Remote Transactions Parity Act and S. 976, the Marketplace Fairness Act aim to create a level playing field in the retail marketplace. A sale is a sale regardless of whether it takes place in a brick-and-mortar store or on the Internet. The same rules that apply to local businesses across our nation should apply to online retailers. To learn more about E-Fairness legislation, click here.
Tony Brown, Lacy Beasley, Scott McLain, and Will Barrois
Stirling Properties’ Will Barrois, who is serving as ICSC’s AL & MS State Director, was also on Capitol Hill with a business delegation from Mobile, Birmingham, and Huntsville. In all, they had nine meetings with Alabama senators, congressmen, and legislative advisors. He noted, as a whole, they were receptive to working with us on these priority issues. Our government leaders realize the importance of the retail real estate industry—it employs a lot of people and is an integral part of local communities and government funding.
“Every political leader we spoke with was open to hearing our message. They were engaged and invited future discussion—they want to hear from their constituents. Legislators understand the need for open dialogue and for us to have a seat at the table in the decision-making process,” said Barrois.
Overall, the Strategic Leadership Summit was a success and we were able to shine a light on the real estate industry and policy matters that will affect it. We thank ICSC and its staff for doing a fantastic job with coordinating these meetings, while helping us to be more efficient with limited time and thoroughly prepared with effective messaging.
Click here to view ICSC’s Shopping Center Impact Infographic
How can you help? Let your voice be heard. As informed business leaders and constituents, we can play the most important role of all in shaping legislation. To contact your representatives or to find your local elected officials, visit the ICSC Legislative Action Center.
If you have questions, concerns, or simply need clarification on any of these policy topics, please feel free to reach out to any one of us directly. We would be more than happy to talk with you.
Speak up, speak out!
Marty
“TREEmendous” Organizations In Our Region
This past weekend, we celebrated Earth Day, an annual day dedicated to encouraging conversation and engagement around environmental sustainability.
Stirling Properties is a proud supporter of numerous environmental programs right here in the Gulf South region. Their work is critical to our success and makes our communities—where we live and work—stronger. In addition to corporate support, many of Stirling Properties’ employees and agents give their time and resources to charitable organizations that improve our environment.
So even though Earth Day has come and gone, we would like to spotlight a few organizations that make our region a little greener every day.
SOUL Nola (Sustaining Our Urban Landscape)
SOUL, a project of The Trust For Conservation Innovation, is dedicated to driving a resilient and equitable New Orleans through improving its water systems.
According to SOUL, New Orleans is the most deforested city in the United States. The group believes that a healthy and substantial urban forest is critical to New Orleans’ ability to live harmoniously with stormwater. Like gray infrastructure, such as canals and roads, the urban forest and other forms of green infrastructure must be built at a meaningful scale and properly integrated into the city. SOUL is dedicated to strategically reforesting New Orleans, one neighborhood at a time. This year, volunteers have planted 190 large native trees in the Mid-City and Algiers Point/Old Algiers neighborhoods of New Orleans, and are in a planning phase for additional areas.
Nola Tree Project
The mission of Nola Tree Project is to grow stronger, healthier communities through tree planting, community service, and disaster relief programs. Through initiatives such as Greaux Healthy Kids & Community Orchards, Urban Forestry Program, and Big TREEsy Giveaways, Nola Tree Project aims to improve the quality of life for our neighbors and communities. With the help of numerous volunteers, the organization has planted nearly 40,000 trees throughout the greater New Orleans area.
Friends of Lafitte Greenway
The Lafitte Greenway is a 2.6-mile bicycle and pedestrian trail and green corridor that connects neighborhoods from Armstrong Park to City Park in New Orleans, significantly transforming one of the most historic areas of New Orleans into a multi-use transportation corridor and linear park.
The Greenway includes a 12-foot asphalt path for cyclists and pedestrians, new recreation fields, green space, and landscaping improvements including approximately 500 shade trees, native plant meadows, bioswales and stormwater retention features. The path is fully lit with LED energy-efficient trail lighting and includes curb extensions, signalized high visibility crosswalks, ADA-compliant curb ramps at sidewalk corners, environmental remediation, a crushed stone walking path, and a bicycle and pedestrian roundabout. Friends of Lafitte Greenway plans to launch several new initiatives and projects throughout the Greenway that will include art installations, healthy living events, guided tours, community gardens, and much more. The organization and its members are working diligently to build, program, and promote the linear park as a great public space.
We salute these “TREEmendous” organizations for their contributions to our region. And we look forward to supporting and “growing” with them for many years to come.
#StirlingProud
Marty
Louisiana State University Takes 3rd Place (Again!) In Global ARGUS University Challenge
Continues to propel national spotlight on growing educational real estate programs at LSU
Stirling Properties commercial real estate company is pleased to announce students from Louisiana State University (LSU) E.J. Ourso College of Business were awarded 3rd place in the global 2017 ARGUS Software University Challenge.
Since 2011, ARGUS Software has hosted the competitive challenge for university students from around the world aspiring to be commercial real estate professionals. Through this challenge, students create real-world investment strategies through informed decisions using ARGUS Software solutions. The theme of the case this year was Pokémon GO! A panel of judges from the academic community and real estate industry participated in reviewing the case studies and nominating the winners.
More than 30 top real estate programs from universities worldwide participated in the competition. The University of San Diego won 1st place, Cornell University placed 2nd, LSU took 3rd, and UCLA earned an honorable mention.
The team from LSU—Garrett Choate, Whitney Gaulter, Matt Hingle, Tyler Tamboli, Sophie Weber, Jason Wyman, and Cassius Dsouza—was coached by Stirling Properties Vice President of Finance, Justin Landry. Landry serves as an adjunct professor teaching Finance 7720 (Commercial Real Estate Investing). This is the 6th year he has taught the course and the 6th year an LSU team has competed in the ARGUS Challenge. It also marks the 2nd time placing under Landry’s leadership.
“This is the second consecutive year that we have secured a 3rd place finish in this competition, so it is no longer beginners luck! This win will certainly garner larger attention around the nation for LSU real estate programs and for students who seek a career in the industry. I am very proud of this team for their accomplishments—they have really worked hard,” said Landry.
LSU’s team secured $3,000 for the university through ARGUS Software. In addition, the students were bestowed the 2017 ICSC (International Council of Shopping Centers) Maurin-Ogden Foundation LSU Scholarship Award, funded by Jimmy Maurin and Roger Ogden, founders of Stirling Properties. Through the scholarship, students will receive all-expense-paid attendance to the ICSC RECon in Las Vegas, the world’s largest retail real estate convention. Each year Stirling Properties hosts LSU Award Recipients at the conference, offering the students valuable exposure to industry leaders and potential employers.
“We truly thank Stirling Properties’ founders, Jimmy Maurin and Roger Ogden for their generosity and unwavering commitment to LSU, real estate, and education. This is an invaluable opportunity for these students to meet and network with industry leaders. Many of our students in the past have garnered great job prospects through this experience,” said Landry.
For more information about Finance 7720 (Commercial Real Estate Investing) and its objectives, contact Justin Landry at jclandry@stirlingprop.com.
Stirling Properties is located at 109 Northpark Blvd., Suite 300 in Covington, Louisiana. For more information regarding our services, please visit us at www.stirlingproperties.com.
