Stirling Announces Additional Shareholder
Stirling is pleased to announce that effective January 1, 2023, Justin Landry will become a shareholder of Stirling Properties, LLC. Landry joins Marty Mayer, President, and CEO; Townsend Underhill, President of Development; Grady Brame, Executive Vice President; Donna Smith, Executive Vice President; and Paul Mastio, Chief Financial Officer, as part of the company’s ownership team. Justin is also being promoted to Sr. Vice President of Development and Finance.
Landry joined Stirling in 2007, where his primary focus has been to oversee the economic feasibility of Developments and Acquisitions across all of Stirling’s property types. He also manages a $1.2 billion debt portfolio of over 80 real estate loans. Justin has been responsible for the placement of a multitude of real estate debt for our clients. Since 2007, Stirling has closed nearly $3 billion of interim and permanent financings with every type of lender that operates in the Gulf South. Additionally, Justin has played a vital role in Stirling’s move into multi-family real estate.
“After graduating from LSU, Justin joined Stirling and has truly learned debt and equity markets and the Commercial Real Estate industry from the ground up. His growth as a professional and a leader has been an amazing journey. We are excited for the future of Stirling and Justin playing a significant role in our evolution”, commented Townsend Underhill.
As part of the Stirling ownership, Justin will expand his role within the Company’s Development, Finance, and Acquisition functions and help lead the company in expanding its existing business plan, growth, profitability, and strong business connections.
“Justin has proven to be an exceptional leader within Stirling and our industry. And most importantly, he embodies our core values and is a role model for others, “stated Marty Mayer.
Justin is an active member of ICSC (Innovating Commerce Serving Communities), where he has served on their Scholarship Committee and Next Generation Leadership Network. Most recently, he was chosen as Marketplace Council Director for the Southeast Region. In 2020, Mr. Landry was awarded the prestigious CRE® credential by The Counselors of Real Estate®.
Stirling Properties Announces President and CEO Marty Mayer to Retire, Townsend Underhill Named Successor
Stirling Properties announces that after 36 years of service, President and CEO Marty Mayer will retire at the end of 2023. At that time, Stirling’s current President of Development and Partner, Townsend Underhill, will assume the role of President and CEO.
Since joining Stirling in 1986 and assuming the role of President in 2002 and CEO in 2006, Mayer has led Stirling through unprecedented growth, expansion, and diversification throughout the Gulf South.
“Leading Stirling Properties over the past 20 years has been one of the greatest honors and privileges of my lifetime,” Mayer stated. “I will be leaving Stirling with tremendous pride and satisfaction but also the utmost confidence in the company’s future and the great accomplishments yet to come.”
Townsend Underhill states, “Under Marty’s leadership, Stirling has grown and established a unique and outstanding culture, and it will be my top priority to ensure it continues in our organization. Marty’s legacy will live on at Stirling for many years. Our entire Organization is grateful for Marty’s visionary leadership, and we wish him the very best in this next chapter,”
“I am both humbled and honored to be asked to lead Stirling into the future by Marty and our fellow partners,” says Townsend Underhill. Since joining Stirling in 2007 and becoming a Partner in 2012, Townsend Underhill has been involved in most every facet of Stirling while overseeing the Development and Finance divisions. In Townsend’s current role as President of Development, Stirling’s product lines have diversified beyond retail and office to include healthcare, industrial, multi-family, single-family for rent, and more. “With Townsend as CEO and the extraordinary team in place, I am excited to see to what heights he leads Stirling into the next chapter,” stated Marty Mayer.
Over the next year, Mayer and Underhill, along with Stirling’s leadership team, will work together to ensure a smooth leadership transition.
Stirling Properties Announces New Tenants at Hammond Square
Stirling Properties announces the arrival of Buff City Soap, Crumbl Cookies, and Marble Slab Creamery at Hammond Square shopping center.
Buff City Soap specializes in plant-based soaps, handmade daily in each shop’s “Soap Makery”. They produce customizable bath bombs, laundry soaps, shaving bars, beard oils, body butters, handsoaps, and more. Buff City Soap was founded in 2013 and now has more than 200 stores across 31 states. Buff City Soap is planning to open in the 4th Quarter of 2022 at Hammond Square.
Crumbl Cookies got its start in Utah in 2017 and has expanded to over 600 locations nationwide, making it the fastest-growing cookie company in the nation. A rotating menu of flavors are announced every week with their award-winning milk chocolate chip cookie always available. Crumbl Cookies will open its doors at Hammond Square 1st Quarter of 2023.
Founded in Houston, Texas in 1983, Marble Slab Creamery was the first ice cream treatery to use a frozen granite slab to blend mix-in toppings into its ice cream. Stores use locally-sourced cream and freshly-baked waffle cones to create a one-of-a-kind frozen dessert on demand. There are more than 1,100 stores worldwide with most locations concentrated in the southeastern US. The Marble Slab Creamery has recently signed a lease at Hammond Square but has not yet announced an opening date.
“Stirling Properties is excited to welcome these first-class retailers to Hammond Square. They are both new to the Hammond market, and we are confident they will be extremely well-received by the surrounding Tangipahoa community. They complement our existing tenant mix perfectly—even further positioning Hammond Square as a leading shopping destination in the region. In addition, our leasing team is still working to secure additional retailers and restaurant options that we hope to be able to announce very soon,” said Grady Brame, Executive Vice President with Stirling Properties.
Rhonda Sharkawy, Senior Retail Leasing & Development Advisor with Stirling Properties, handled the lease transactions on behalf of the landlord.
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. It is the 2nd largest open-air center in Louisiana encompassing over 902,000 square-feet of more than 40 national and local retailers, shops, and restaurants, including Dillard’s, Target, The Home Depot, JCPenney, Academy Sports+Outdoors and AMC Theatres. Stirling Properties redeveloped Hammond Square and currently manages and leases the center.
For more information on Hammond Square, visit www.hammondsquare.com or facebook.com/hammondsquare. For leasing and sales information, contact Rhonda Sharkawy at (504) 620-8145 or rsharkawy@stirlingprop.com.
Four New Tenants Coming to Stirling Bossier Shopping Center in Bossier, Louisiana
Stirling Properties announces four new retailers are joining the tenant lineup at Stirling Bossier Shopping Center in Bossier City, Louisiana.
- Krush Boutique, a women’s clothing store, has expanded and relocated within the center into 4,000 square feet of space next to Belk. It opened in its new location earlier this month. Krush Boutique operates two additional retail locations in Shreveport, Louisiana, and Longview, Texas.
- We Olive & Wine Bar, a national concept offering artisan olive oils, balsamic vinegars, tapenades, and local wines, will occupy 1,600 square feet of retail space next to Baskin Robbins. It is scheduled to open in the second quarter of 2022.
- Buckle, national on-trend apparel, footwear, and accessories provider, is leasing 8,000 square feet of retail space next to Belk and is expected to open in early June.
- Bath & Body Works, the #1 Specialty Home Fragrance & Fragrant Body Care company in America, will fill 4,000 square feet of space between Ross Dress For Less and Belk. It is expected to open in the late summer of 2022.
Rhonda Sharkawy, Senior Retail Leasing and Development Advisor with Stirling Properties, represented the landlord in the lease transactions.
Stirling Bossier Shopping Center, located at the northeast corner of Interstate 220 and Airline Drive in Bossier City, Louisiana, is a 682,200-square-foot hybrid retail center that offers a great variety of national tenants and dining options. Anchor tenants include Sam’s Club, Target, Academy Sports + Outdoors, Ross Dress For Less, Best Buy, Bed Bath & Beyond, PetSmart, Michaels, Old Navy, ULTA Beauty, and many more. Stirling Properties developed Stirling Bossier and currently handles leasing and property management of the shopping center.
For leasing information, contact Rhonda Sharkawy at (504) 620-8145 / rsharkawy@stirlingprop.com.
Stirling Properties and PMAT Companies Announce the Acquisition of Crossroads Center in Gulfport, MS
PMAT-Stirling Crossroads, LLC, led by Stirling Properties and PMAT Companies, successfully completed its acquisition of Crossroads Center, a 554,720-square-foot open-air retail center in Gulfport, MS.
Located at 15082 Crossroads Parkway in Gulfport, Crossroads Center sits at the intersection of Interstate 10 and US-49 and features over 50 national, regional, and local tenants, including anchors Academy Sports, Belk, Cinemark, Barnes & Noble, T.J.Maxx, Ross Dress For Less, Burkes Outlet, Michaels, PetSmart, Five Below, ULTA Beauty, Shoe Carnival, Party City, and Old Navy. The center is 92% occupied and contains several outparcels, including TGI Fridays, Chuck E. Cheese, Navy Federal Credit Union/Mattress Firm, and Longhorn Steakhouse.
b1BANK served as the lender for the deal. Stirling Properties will assume daily management responsibilities and leasing of the center moving forward. Rhonda Sharkawy, senior retail leasing and development advisor with Stirling Properties, is the leasing agent on the property.
“Stirling Properties and PMAT Companies have an existing relationship, as Stirling Properties serves as PMAT’s lead strategic partner for property management of their portfolio, so there is existing synergy between our two companies and their operations,” said Donna Smith, Executive Vice President with Stirling Properties. “We are excited to enter into this joint venture with PMAT Companies on the acquisition of Crossroads Center, which will grow and strengthen both our portfolios as well as our working relationship.”
“We are excited to acquire another fundamentally sound asset with well-performing tenants in a market that maintains pent-up prospective tenant demand but is in a geography frequently overlooked by many institutional players. PMAT is already leveraging our national presence and relationships in conjunction with Stirling’s local expertise to source significant interest from new tenants as well as numerous opportunities to work with the well-performing existing tenants to create mutual long-term value,” said Kevin Kush, President of PMAT. “Crossroads Center is the largest power center servicing the Gulfport region, and it benefits from a prominent location providing accessibility to thousands of people daily. Simply put, this is good dirt. We remain extremely active in the capital markets across our geographic footprint and remain open to additional JVs and direct purchases of middle-market assets typically in the $10-50 million deal size.”
To present acquisition or joint venture opportunities, contact Kevin Kush at kevin@pmat.com.
For more information on Crossroads Center, contact Donna Smith at dsmith@stirlingprop.com / (985) 898-2022. For leasing information, contact Rhonda Sharkawy at rsharkawy@stirlingprop.com / (504) 620-8145.
Stirling Properties’ Commercial Advisors Among Top Industry Producers In the Greater New Orleans Area
Stirling Properties commercial real estate advisors were recently honored for outstanding industry achievements and transactions during the New Orleans Metropolitan Association of REALTORS® (NOMAR) Commercial Investment Division’s (CID) Annual Achievement Awards ceremony.
Rhonda Sharkawy, Senior Retail Leasing & Development Advisor, was awarded top Retail Broker of the Year for the greater New Orleans area with a total sales and leasing volume of more than $44.1 million in 2021.
Gaines Seaman, Senior Advisor, was named top Office Broker of the Year with a sales and leasing volume of more than $11.4 million in 2021. He also received honors for top Office Lease of the Year.
Saban Sellers, Investment Advisor-Multifamily, was named top Multi Family Broker of the Year with a sales and leasing volume of more than $31.1 million in 2021. Sellers also received honors for top Multi Family Sale of the Year.
Melissa Warren, CCIM, Senior Advisor, and Carly Plotkin, Advisor, with Stirling Properties, were among Silver Production Award recipients for obtaining total commercial credit sales and leasing from $2.5 – $4.9 million. Bradley Cook, CCIM, Advisor, and Ryan Murphy, CCIM, Senior Advisor, received the Gold Production Award for commercial credit sales and leasing from $5 – $9.9 million. Gaines Seaman received the Platinum Production Award for credit volume from $10-14.9 million. Rhonda Sharkawy and Saban Sellers were awarded Diamond Production Awards for total commercial sales and leasing volume over $15 million.
A huge congratulations to Melissa Warren, CCIM for being selected by NOMAR to serve as the 2022 CID President. Beth Cristina, ALC, Senior Advisor with Stirling Properties, is also serving as the 2022 Director for the Louisiana Association of REALTORS.® Cristina was invited to present the Service to the Industry Award during the annual awards ceremony.
With 53 advisors and nine offices spanning the Gulf South region, Stirling Properties’ advisory team specializes in all aspects of commercial real estate, including retail, office, industrial, healthcare and multifamily sectors. In 2021, our commercial advisors completed 774 transactions totaling over $643.9 million.
