Stirling Properties Welcomes Northern Tool + Equipment To Lake Charles, Louisiana
Stirling Properties is pleased to welcome Northern Tool + Equipment to Park Plaza in Lake Charles, Louisiana. The company will be located at 3131 Gerstner Memorial Drive and plans to open in November of 2016.
Park Plaza Shopping Center is a 172,949-square-foot multi-tenant, neighborhood retail and restaurant center located at the intersection of I-210 and LA-14 in Lake Charles’ retail hub. Northern Tool + Equipment will join a great mix of established local and national retailers, including Family Dollar, Save-A-Lot, Altitude Trampoline Park, Citi Trends, Osaka Hibachi Restaurant, Beauty Supply, Louisiana Wireless, L.A. Fashions, Liberty Tax, Subway, EZ Checkloans and Sam’s Southern Eatery.
Stirling Properties Sales and Leasing Executive, Seth Citron, handled the lease transaction with Clay Mote of Dallas-based Venture Commercial. Northern Tool + Equipment will occupy 19,109 square feet in the former Conn’s space. This will mark the third Louisiana location for the company.
Family-owned and operated for more than 35 years, Northern Tool + Equipment has grown into a billion-dollar company with 95 stores in 19 states nationwide. It provides over 40,000 carefully chosen tools via catalogs, website and retail stores. The Northern Tool + Equipment store in Lake Charles will offer Louisiana residents a wide selection of portable generators, pressure washers, air compressors, power tools, welding equipment and many more quality equipment products, as well as a complete line of emergency storm supplies.
Lake Charles has recently made headlines as a major growth leader in southwest Louisiana, driven by massive industrial projects. According to recent reports, Lake Charles’ economy grew 8.3%, the 3rd-fastest in the nation, and job growth and sales taxes are exceeding the national average. This progression is quickly attracting new retail developments and tenants to the market.
“Lake Charles is one of the hottest areas in the state with upwards of $80 billion in anticipated industrial projects driving significant growth and job opportunities,” said Citron. “This is an exciting time for progress, and we are starting to see major retailers taking notice. Stirling Properties is proud to be a part of that growth, and to have the opportunity to help bring quality retailers to the area.”
For sales or leasing information, contact Seth Citron at scitron@stirlingprop.com or (337) 572-0273.
Mid-City Market 100% Leased!
Addition of new retail & restaurant tenants
Stirling Properties commercial real estate company welcomes new tenants to Mid-City Market in New Orleans, Louisiana, and is pleased to announce that the center is 100% leased.
ASI Federal Credit Union will occupy the last remaining 2,541 square feet of space. Build-out of the space is underway, and the company plans to open in January of 2017. This will mark the 2nd Mid-City location for ASI Federal Credit Union.
Previously announced Mr. Ed’s Oyster Bar & Fish House successfully opened earlier this week, marking the 4th location for the popular New Orleans restaurant. It occupied the former Pei Wei Asian Diner space.
Stirling Properties Sales & Leasing Executive, Joe Gardner, handled both transactions.
Located on 6.5 acres at the northwest corner of North Carrollton Avenue and Bienville Street in Mid-City New Orleans, Mid-City Market is a 109,000-square-foot urban infill shopping center. Anchored by Winn-Dixie, the center is home to a diverse mix of local and national retailers and restaurants including Office Depot, Jefferson Feed Pet & Garden Center, Panera Bread, Verizon Wireless, Felipe’s Taqueria, Mr. Ed’s Oyster Bar & Fish House, Five Guys Burgers and Fries, Ochsner Health Center, GNC, Pinkberry, Pizza Hut, Shine Spa + Specialties, LA Nails Spa, and Mariposa Salon & Spa. Stirling Properties developed Mid-City Market and currently manages and leases the center.
Stirling Properties broke ground on the development in early 2012 and celebrated a grand opening in July of 2013. Mid-City Market is Stirling Properties’ largest ground-up retail development in New Orleans and represents one the of the most significant retail developments in the city following Hurricane Katrina. Stirling Properties acquired the vacant, blighted site and returned it to commerce after a $40 million investment. Mid-City Market now serves as the retail and restaurant center of the community, delivering new jobs, new tax revenue and new energy to this vibrant corridor. The retail center is credited with creating over 500 new jobs for the area.
Mid-City Market was designed to incorporate extensive pedestrian features, contextual urban and adaptive reuse architecture, and to complement the adjacent Lafitte Greenway pedestrian and bicycle pathway, melding the retail center to the culturally rich urban neighborhood and extensive architectural history.
“Stirling Properties remains committed to the City of New Orleans and surrounding communities. Our mission is to create economically sustainable retail developments that produce long-lasting benefits to the communities in which they are built—and Mid-City Market is a perfect example of that,” said Grady Brame, Executive Vice President for Stirling Properties. “This center provides services to a great number of local residents and visitors, and is a dynamic economic contributor. We are proud of its progress and success.”
Stirling Properties has been at the forefront of commercial real estate management, investment and development in the greater New Orleans area and surrounding Southeast Louisiana region. Stirling Properties has developed more than 3.7 million square feet totaling $465 million since 2010, and currently has more than 114 million square feet of property and land for sale or lease. Other Stirling Properties management and development projects in New Orleans include, Offices at Mid-City Market, Magnolia Marketplace, Fresh Market and Pan American Life Center, just to name a few.
Ambassador Town Center 100% Leased!
Stirling Properties and CBL & Associates Properties, Inc. welcome four new tenants to Ambassador Town Center in Lafayette, Louisiana. Developers are pleased to announce the center is now 100% leased!
5 Star Nutrition has leased 1,759 square feet of space, with an anticipated opening in November. This marks the company’s 2nd location in south Louisiana, and 5th location for the state.
Orangetheory Fitness will occupy 3,300 square feet and is expected to open in December. This will be the 4th Louisiana location for the company.
Sprint will occupy 1,286 square feet and anticipates opening later this year.
Newly leased I Love Juice Bar is celebrating its 1st Louisiana location. It will occupy 1,250 square feet and also plans to open later this year.
Rounding out the tenants, previously announced Just 4 Him Men’s Haircut Lounge celebrated its grand opening last week, and Half Shell Oyster House is still on track to open next month. They join 30 other retailers and restaurants that call the shopping center home, including anchor tenants Costco Wholesale and Dick’s Sporting Goods/Field & Stream. Last month, developers also installed a public walking/jogging trail at the site for community use.
“The growth of Ambassador Town Center since its opening six months ago is impressive,” stated Michael Lebovitz, executive vice president, development and administration, CBL & Associates Properties, Inc. “We’re thrilled to add additional national names like Orangetheory Fitness – one of the fastest growing fitness franchises in the country – to our line-up and continue to offer the Lafayette community a vibrant and dynamic lifestyle destination.
“We are extremely proud of the success at Ambassador Town Center,” said Townsend Underhill, Senior Vice President of Development for Stirling Properties. “Getting a retail center of this size 100% leased within 6 months of its grand opening is a huge accomplishment in any community. The progress of this center truly represents the strength of the Lafayette market, especially during this challenging economic time.”
Ambassador Town Center is a roughly 60-acre premier regional shopping and entertainment destination, as well as a vital economic contributor to the area. With more than 430,000 square feet of retail space, the center offers a great variety of national and local shopping and dining options. Most of the retailers opened at Ambassador Town Center are either first-time locations within Lafayette or Louisiana, or both.
Located at the southeast corner of Lafayette’s ‘main-at-main’ intersection, Ambassador Caffery Parkway & Kaliste Saloom Road, the development also includes 5 Star Nutrition, Avalon Salon & Spa, BJ’s Restaurant & Brewhouse, Blaze Pizza, Chuy’s Mexican Restaurant, Costco Gasoline, Dickey’s Barbecue Pit, Five Below, Freddy’s Frozen Custard & Steakburgers, Half Shell Oyster House, I Love Juice Bar, Just 4 Him Men’s Haircut Lounge, Marshalls/HomeGoods, Nordstrom Rack, Off Broadway Shoes, Orangetheory Fitness, Panda Express, Panera Bread, PetSmart, Phone Zone, Professor Bob Beans Coffee Bar & Ice Cream Lab, Red Robin, Sprint, Subway, Tao Asian Cuisine, World of Beer and Verizon.
Stirling Properties and CBL & Associates Properties, Inc. formed a joint venture to develop the center, and construction began in January of 2015. The companies currently manage and lease the property. Ambassador Town Center has been credited with creating approximately 2,200 construction jobs, roughly 1,700 permanent jobs and nearly $9 million annually in sales taxes for the City of Lafayette.
Stirling Properties Names Justin Landry Vice President Of Finance
Stirling Properties commercial real estate company is pleased to announce that Justin Landry has been promoted to Vice President of Finance. Landry is a leader in the company’s Baton Rouge office located at 8550 United Plaza Boulevard, Suite 300.
Landry joined Stirling Properties in 2007 and is responsible for evaluating the economic feasibility of new development opportunities for the company. He serves as the lead on all development proforma and financial modeling. In addition, he is lead on debt placement for new developments and refinancing in preparing and soliciting permanent loan packages, and negotiating those loans with lenders. Landry is also asset manager in charge of the company’s entire multi-family portfolio throughout Louisiana.
“Justin is an integral part of our Stirling Properties team, and this promotion is well-deserved,” said Townsend Underhill, Senior Vice President of Development for Stirling Properties. “He has assisted in the placement of more than $1 billion of interim and permanent financing, and has significantly aided with the recent development of Ambassador Town Center. He’s played a key role in major acquisitions such as Turtle Creek Crossing, Retreat at Acadian Point, and Ansley Place, just to name a few. He is certainly worthy of this recognition, and we are proud of his success.”
Landry holds a Bachelor of Science degree in Finance from Louisiana State University. He is an active member of ICSC (International Council of Shopping Centers). He currently sits on the ICSC Scholarship Committee, and is former Committee Chair for ICSC’s Next Generation – Louisiana Chapter. In addition, he serves as an instructor at Louisiana State University teaching Finance 7720 (Commercial Real Estate Investing). Justin Landry can be reached at (225) 922-4340 or
Justin Landry can be reached at (225) 922-4340 or jclandry@stirlingprop.com.
Stirling Properties Welcomes Magnolia Yoga Studio To the New Bienville Basin District
Studio Grand Opening on Friday, September 16th!
Stirling Properties is pleased to welcome Magnolia Yoga Studio to the Bienville Basin District in New Orleans. The long-awaited studio will be located at 301 Basin Street and plans to open its doors on Friday, September 16th!
Stirling Properties Sales and Leasing Executive, Joe Gardner, handled the transaction and worked extensively with the tenant to secure the 2,000-square-foot site, and to select a contractor for the build-out process, which started earlier this year.
The Bienville Basin District is an up-and-coming mixed-use community rising in the footprint of the former Iberville housing development. The Bienville Basin redevelopment began in 2013 and has since gained significant traction. The 23-acre district includes more than 800 mixed-income residential units, restaurants, retail, parks and recreational areas. The full development plan is expected to cover 300 blocks bounded by Rampart Street, Tulane Avenue, Broad Street and St. Bernard Avenue.
New Orleans has recently been credited with attracting young, business-savvy entrepreneurs to the city. Magnolia Yoga Studio Owner & Chief Yoga Officer, Adrianne (Ajax) Jackson, a California native of mixed Mexican- and African-American heritage relocated to New Orleans seeking business opportunities to bring her dream of a yoga studio to fruition. She was particularly drawn to the revitalization and vibrancy of the Basin community.
“Our mission is to support growth, healing, and empowerment through the art of yoga and community,” said Ajax. “We are thrilled to be opening our doors here in the Basin and hope everyone will come out to see what we have to offer. Just remember: You don’t have to be good to get started, but you have to get started to get good!”
Magnolia Yoga Studio is intent on getting more yoga to more people, more often. The goal is to educate the community on the benefits of yoga and to provide accessibility. The studio plans to create collaborations with businesses, hospitals, recovery centers, schools and with incarcerated youth.
“Magnolia Yoga Studio is the quintessential example of the types of diverse business opportunities and establishments that the mixed-use Basin community has to offer. We are proud of what this neighborhood has become, and are especially excited to see young, talented, minority business owners—such as Ajax—finding a home here in our city and helping to become a part of this historic renovation,” Pres Kabacoff, Executive Chairman of the Board, HRI Properties.
The redevelopment of the Bienville Basin District site is a much welcomed addition to downtown New Orleans. This prime real estate, just steps from the French Quarter with both the Canal Street and St. Charles Avenue streetcars running nearby and the Rampart Street expansion underway, provides convenient access to all of the city. It is quickly becoming a sought-after neighborhood to live, work, shop and play.
Stirling Properties has been at the forefront of commercial real estate brokerage, development/redevelopment and management in New Orleans and the entire Gulf South region. With notable accomplishments such as Mid-City Market, Magnolia Marketplace, and the Pan American Life Center first floor redevelopment, Stirling Properties is a key contributor to the revitalization efforts of the City of New Orleans and surrounding communities.
“We are committed to New Orleans and the Gulf South region,” said Gardner. “We are thrilled to be involved in such significant revitalization projects, such as the Bienville Basin District, and look forward to bringing even more retail tenants and businesses to this vibrant market.”
Stirling Properties Brokers Acquisition for The Learning Tree, Inc. in Mobile, Alabama
Stirling Properties is pleased to announce the sale of property to The Learning Tree, Inc. in Mobile, Alabama, that will be used to house office and support staff, as well as allow for future school expansion.
The property is located at 5451 Able Court in Mobile, adjacent to The Learning Tree’s current facility, and was purchased from F&S. The acquisition includes four existing office/warehouse buildings totaling 15,190 square feet. With the new location, office and support staff will now be located next door to the school facility, rather than across town, creating a much more efficient and effective operation. They plan to occupy the space early 2017.
Nathan Handmacher, Stirling Properties Senior Sales & Leasing Executive in Mobile, handled the transaction. “My son attended Woody’s Song School, which is a program of The Learning Tree, so this transaction was rather personal and fulfilling for me,” said Handmacher. “I’m thrilled that we were able to help the school acquire this property that will streamline their operations, so they can continue to focus on the great work they do for the young people in our community.” Handmacher also volunteers for The Learning Tree and serves on the Board of Trustees for the group.
The Learning Tree is a nonprofit organization dedicated to providing educational, residential and support services for children and adolescents with developmental disabilities, including autism. Programs are designed to help children lead more fulfilling and rewarding lives.
Access to educational opportunities and support services for families and children with developmental disabilities is crucial for their success and growth. In addition, educational expansion leads to economic development and increased job opportunities within the community.
The Learning Tree serves more than 600 children and families from across the state of Alabama and the southeast region of the United States. It operates seven programs in the north, central and southern regions of the state including residential and non-residential schools for children ages 5-21, as well as preschool services.
Stirling Properties is proud to serve the commercial real estate needs for Mobile and the surrounding Gulf South region. Stirling Properties manages more than 17 million square feet of property, with close to 100 million square feet of properties and land for sale or lease in the region. We specialize in brokerage services, development & redevelopment opportunities, acquisitions & investments, and property and asset management, over a wide array of property types.
Nathan Handmacher can be reached at nhandmacher@stirlingprop.com or (251) 342-7229.
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