Stirling Properties Acquires $59.7M Rehab Hospital In Joint Venture With Ochsner
Stirling Properties, in a joint venture partnership with Ochsner Clinic Foundation, has closed on the acquisition of the new Ochsner rehabilitation hospital located at 2614 Jefferson Highway in Jefferson, Louisiana.
This new addition to Ochsner’s Main Campus West is a five-story, 129,875-square-foot medical building. It will house three separate high-demand healthcare components, including Long Term Acute Care, Inpatient Rehabilitation, and a Skilled Nursing Facility. Ochsner will be the primary operator in the new building, along with Select Medical and LHC Group.
Construction started on the development in early 2017, and building and site work is now complete. The facility plans to open by the 2nd quarter of 2018.
The total project cost was $59,775,000. IBERIABANK provided the debt financing.
This acquisition further solidifies Stirling Properties’ commitment to growth in the Gulf South region and our diversification into the healthcare real estate sector. We have recently partnered with some of our region’s top medical providers on a diverse range of projects.
Our company’s ability to provide a full continuum of services, including development & redevelopment, commercial brokerage, acquisition & investment, and asset management services uniquely positions us in the rapidly expanding healthcare industry. We will continue to grow our portfolio and garner a wealth of experience with a wide array of healthcare properties, designs, and uses.
To learn more about Stirling Properties’ Healthcare Real Estate Portfolio, click here or visit stirlingprop.com.
Team Stirling Properties Spreads Holiday Cheer!
In the spirit of the Holiday Season, Stirling Properties participated in the Volunteers of America Christmas Wish “Angel” Project. For the 6th consecutive year, our company donated Christmas gifts, food baskets and other essential items to local families in need across our Gulf South region.
The annual Christmas Wish Project helps bring joy and holiday cheer to families and individuals who might not have a Christmas this year. Through Volunteers of America, participating families submit “wish list” gift items for each individual. The wishes are noted on angels and hung on the company Christmas tree where Stirling Properties and employees can select and grant them. This year, we were able to fulfill every single wish! In all, 18 families and more than 46 children, adults and seniors received Christmas gifts. Additionally, 10 families on the Northshore received food baskets with tasty treats and supplies for the holiday season.
Stirling Properties’ Stewardship Committee organized the company-wide event by partnering with Volunteers of America in Greater New Orleans, Greater Baton Rouge and the Southeast to serve the New Orleans Northshore and Southshore, Baton Rouge, Lafayette, Mobile and Shreveport communities.
In addition to donating to the Christmas Wish Project, Stirling Properties hosted its third annual Northpark Christmas Bazaar, Bake Sale & Raffle on Friday, November 17th. Local vendors, as well as employees of the Northpark office complex sold crafts, jewelry, ornaments, artwork, beauty products and many other great gift items.
The Christmas Bazaar raised $2,500, which was also donated in full to Volunteers of America to assist more families in our area with emergency holiday needs.
The Holiday Season is a time for gratitude, generosity and giving back to our region. Stirling Properties is committed to supporting the communities where we live and work, and we will continue to support local nonprofits, community groups and charitable organizations throughout the year and beyond.
Thank you to all of the vendors, donors and shoppers who made this project a huge success. On behalf or Stirling Properties, we wish you and yours a joyous Holiday Season and a Happy New Year!
For more information about Stirling’s Stewardship Committee, please visit stirlingprop.com/about/community-involvement or contact us by email at stewardship@stirlingprop.com.
Stirling Properties Highlights Leading Ladies In Commercial Real Estate!
Last month, several Team Stirling Properties members were acknowledged and awarded for their successes and contributions to the Gulf South commercial real estate industry.
Melissa Warren, CCIM, Sales & Leasing Executive, was selected by the New Orleans Metropolitan Association of REALTORS® (NOMAR) Commercial Investment Division (CID) as a member of its governing Board of Directors. Warren is one of only three women to hold this post. She will assume the position on January 1, 2018, and serve for a two-year term.
Warren has provided commercial real estate advisory services for more than 16 years, with a focus on industrial, office, and retail sales and leasing, as well as tenant and landlord representation. She was awarded the Top Producer Ruby Award by the Gulf Coast Association of Realtors (GCAR) for completing the largest number of commercial transactions on the Mississippi Gulf Coast, and inducted into the Top Producer Round Table for lifetime achievement. She is a graduate of Mississippi State University and holds a Bachelor of Arts degree. She is a member of the National Association of Realtors (NAR), NOMAR CID, CCIM Institute, Louisiana Chapter of CCIM, and ICSC (International Council of Shopping Centers).
Carly Plotkin, Sales & Leasing Executive, was awarded a $1,500 NOMAR CID Education Scholarship. The scholarships are designed to help individual CID members increase their knowledge and education in the fields of commercial and industrial real estate. The scholarship may be applied to courses from many different providers (i.e., CCIM, SIOR, IREM, LR, UNO, etc). She is one of only three recipients awarded this year.
Plotkin joined Stirling Properties in 2016. Her primary focus is on tenant and landlord representation, as well as a strong interest in the retail and hospitality market. She has worked with national, regional, and local clients in both marketing and leasing capacities. She was the recipient of the 2017 “Rising Star Award” at the NOMAR CID Annual Achievement Awards ceremony. She is an active member of ICSC and holds the position of Next Generation State Chair for Louisiana. She is also a member of the Retail Brokers Network (RBN), and serves as RBN’s NextGen Southeast Committee Chair. Plotkin is a graduate of Tulane University with a bachelor’s degree in Consumer Behavior/Marketing and Management.
Rhonda Sharkawy, Senior Retail Leasing & Development Executive, was recognized in New Orleans CREW (Commercial Real Estate Women) Network’s member spotlight for the month of November. New Orleans CREW Network is the premier commercial real estate association in the Greater New Orleans Metropolitan Area for women from all disciplines of commercial real estate.
Sharkawy joined Stirling Properties in 1998, and has commercial experience working with new retail developments, redevelopments, and leasing of existing shopping centers. In addition, she represents over a dozen national retailers throughout Louisiana. She is a graduate of Loyola University in New Orleans with a bachelor’s degree, and a master’s degree in Land & Real Estate Development. She also completed coursework for a master’s degree in Construction Science from Texas A&M University. Sharkawy is active in ICSC and serves on Loyola University’s Board of Trustees. She has been inducted into the National Association of REALTORS® Commercial Hall of Fame for having the highest volume of transactions in the marketplace for at least 5 years. She is one of only three inductees in the Hall of Fame, and the only woman to achieve this distinguished honor.
These women are truly leaders in the commercial real estate industry and are serving as trailblazers for others in the business. A recent study commissioned by CREW Network tracks 10 years of progress for women in a traditionally male-dominated industry. The report found that women in commercial real estate are more satisfied with their career progression than they were a decade ago, a substantial leap for the industry. Successes included more women filling senior vice president, managing director, and partner positions—even women starting their own real estate companies. Women in commercial real estate have achieved equal or close-to-equal standing as men in many aspects. (Read the full report HERE.)
While there is still much work to do, progress is happening. We are proud of our Stirling Properties’ team and all the women who are making a difference in commercial real estate!
#StirlingProud
Major Economic Win for the Greater New Orleans Region
DXC Technology to create 2,000 high-paying jobs.
The greater New Orleans region is celebrating a monumental economic win with the announcement that DXC Technology will establish a Digital Transformation Center in New Orleans’s Central Business District. (The site location will be finalized and announced soon.) The new Digital Transformation Center is expected to create 2,000 permanent high-paying jobs over the next seven years, and an annual payroll exceeding $133 million by 2025. This marks one of the largest economic development deals in the history of Louisiana.
DXC Technology is a new business venture resulting from the merger of Computer Sciences Corp (CSC) and the Enterprise Services business of Hewlett Packard Enterprise (HPE)—and is a global leader in IT services.
This deal has been in the works for a very long time, and yesterday, New Orleans Mayor Landrieu, along with many government and community officials, economic development organizations, and higher education leaders brought the project to fruition. The Digital Transformation Center was heavily competed for but New Orleans emerged as the front-runner on a short list of great cities across the country.
As New Orleans approaches its 300th anniversary, this is truly a significant milestone for the city. This economic development win is yet another testament to the emergence of New Orleans as one of the top cities for young professionals to work, and reinforces the momentum of our area as a major technology hub.
This is an exciting time for New Orleans. We have celebrated many economic successes and accomplishments over the last several years, and this is just the beginning. Stirling Properties is proud to be a part of this thriving region!
Learn more about the announcement from LED (Louisiana Economic Development).
Walmart Grocery Pickup Location Coming to Metairie, Louisiana
Stirling Properties commercial real estate company is pleased to announce a recent lease to Walmart for a new standalone grocery pickup location in Metairie, Louisiana. The highly visible property is located at 615 Veterans Memorial Boulevard, between Aris and Focis Streets, in the former Whitney Bank location.
Photo courtesy of Walmart
Walmart will be renovating the existing building to include a roughly 4,000-square-foot, 2-story distribution facility. Work is expected to commence within the month, with an anticipated opening by the end of 2017.
The new-to-market grocery concept allows customers to order products online and pick them up at a selected location, usually a Walmart store. According to the retailer, more than 30,000 items—including produce, meat, seafood, dairy, bakery items, as well as health and beauty products–can be ordered online and picked up for free at designated sites.
The new facility on Veterans Memorial Boulevard will mark the first standalone grocery pickup location in the greater New Orleans region, allowing shoppers the convenience of a drive-thru site without ever having to exit their vehicles or visit a Walmart store. This facility also adds an additional grocery pickup location for consumers aside from the existing Walmart store located at 8912 Veterans Memorial Boulevard in Metairie.
Walmart is working to enhance its curbside pickup services in an effort to provide the same low prices as in stores, along with convenience to save customers time and money. Walmart is rapidly expanding grocery pickup locations, bringing the number to more than 1,000 sites nationwide.
Joe Gardner, CCIM, and Carly Plotkin, Sales & Leasing Executives with Stirling Properties handled the lease transaction on behalf of the landlord.
“Stirling Properties is excited to bring this new-to-market concept to the greater New Orleans region, while putting this high-profile property back into commerce,” said Gardner. “Consumer shopping behaviors are changing—they want choices and they demand convenience. Walmart is on the front lines in the push to provide omnichannel options for grocery shopping, and we hope this is just the first of more pickup locations to come to our area.”
Melissa Warren Named As Sales & Leasing Executive
Stirling Properties commercial real estate company is pleased to announce that Melissa Warren, CCIM, has joined its Commercial Brokerage Division as Sales and Leasing Executive. She will work from the company’s New Orleans office located in the Pan American Life Center at 601 Poydras Street.
Warren has provided clients with commercial real estate advisory services since 2001. Her focus is on industrial, office, and retail sales and leasing, as well as tenant and landlord representation.
On behalf of clients, Warren has been responsible for conducting investment, market, and financial analysis, as well as negotiating purchase and lease contracts. She coordinates transaction due diligence, site selection services, user decision analysis, and assists clients with planning and zoning matters. Additionally, she has served as the leasing agent for East Jefferson General Hospital and has represented Whitney/Hancock Bank in the disposition of distressed commercial assets and office leasing.
Prior to joining Stirling Properties, Warren was a senior real estate advisor for Grubb & Ellis/ Sawyer Commercial in Gulfport, Mississippi. In 2005 and 2006, she was awarded the Top Producer Ruby Award by the Gulf Coast Association of Realtors (GCAR) for completing the largest number of commercial transactions on the Mississippi Gulf Coast. In 2010, she was inducted into GCAR’s Top Producer Round Table for lifetime achievement.
Warren graduated from Mississippi State University with a Bachelor of Arts degree in English. In 2006, she was designated a Certified Commercial Investment Member (CCIM). She is affiliated with the National Association of Realtors (NAR), New Orleans Metropolitan Association of Realtors (NOMAR) – Commercial Investment Division (CID), CCIM Institute, Louisiana Chapter of CCIM, International Council of Shopping Centers (ICSC), and Louisiana Commercial Database (LACDB).
Melissa Warren, CCIM, can be reached at (504) 620-8148 or mwarren@stirlingprop.com.
