Stirling Properties Awarded Management Of PMAT’s 1,000,000 SF Retail Portfolio
Stirling Properties commercial real estate company has structured a new partnership with PMAT Real Estate Investments to manage the company’s growing portfolio of anchored shopping centers located across the Southeast, Sunbelt, Carolinas, Mid-Atlantic, and Midwest. This partnership will enable the complementary firms to create a scalable platform for the continued growth of both Stirling Properties and PMAT.
After disposing of approximately $200,000,000 of assets in the preceding years, the current PMAT portfolio consists of assets in Georgia, Florida, South Carolina, Tennessee, and Virginia as well as several centers in the acquisition pipeline and is well capitalized for continued growth in their target markets.
“Stirling Properties is thrilled to gain the property management contract for these centers—and to expand our portfolio and geographic footprint into new markets,” said Donna Taylor, SVP of Asset Management & New Business. “We look forward to working with PMAT Companies to enhance the asset performance and value. Our team of trusted experts is in motion working diligently to deliver optimum results for the property owners!”
“This partnership is a very good marriage for our two firms. Based in our own backyard, Stirling Properties is a trusted, best-in-class management company with significant operational expertise and an owner’s mindset,” said Kevin Kush, President of PMAT. “With Stirling Properties’ support network of talented professionals, PMAT will be able to focus on portfolio expansion and executing our value-add investment platform. After our recent dispositions and strategic partnerships, our platform is now more scalable and better capitalized for growth than ever before.”
PMAT was founded in 2003 by Robert Whelan, the former CFO of a NYSE REIT. Since that time, the company has invested in nearly 4 million square feet of anchored shopping centers with combined acquisition and disposition transaction value of over $1,000,000,000. These investments comprise an array of redevelopments of grocery-anchored centers including experience with such grocers as Publix, Kroger, Winn-Dixie, Lowes Foods, Food Lion (Delhaize), Giant (Ahold), Sweetbay, and Bravo as well as an array of national and regional tenants ranging from traditional soft goods tenants like Ross, T.J. Maxx, Marshalls, and Bealls to alternative users such as YouFit, Planet Fitness, Bargain Hunt, Paragon Theaters, Cinepolis, Jumpstreet, and Altitude Trampolines. For more information on PMAT, please contact Ben Bolz at Ben@pmat.net.
Stirling Properties currently manages more than 16 million square feet of property, with close to 114 million square feet of property and land for sale or lease.
For more information on Property Management/Asset Management, please contact Donna Taylor at dtaylor@stirlingprop.com or (985) 898-2022.
Stirling Properties Welcomes The Home Depot to Hammond Square
Stirling Properties commercial real estate company is pleased to announce that The Home Depot is coming to Hammond, Louisiana, as part of the Hammond Square redevelopment. This will mark the first Tangipahoa Parish location for the long-awaited home improvement retailer.
The Home Depot closed on the acquisition of 9.65 acres of property located on the corner of West Minnesota Park Road and South Magnolia Street on the north side of the shopping center. Construction on the site is anticipated to commence by the end of the year. The store will occupy roughly 106,000 square feet of space with an adjoining 28,000-square-foot garden center, and is expected to open in 2017.
“We are excited that The Home Depot has chosen Hammond,” said City of Hammond Mayor Pete Panepinto. “The Home Depot brings more jobs and consumer choices that are critical to Hammond’s continued growth.”
The Home Depot is the world’s largest home improvement retailer with nearly 400,000 associates and more than 2,200 stores in the US, Canada and Mexico. The Home Depot at Hammond Square will offer a one-stop shop for do-it-yourselfers and professional contractors, with more than 35,000 products in store and 1 million products online.
“Stirling Properties is thrilled to welcome The Home Depot to Hammond Square and to the Hammond retail market,” said Grady Brame, Executive Vice President at Stirling Properties. “The Home Depot was one of the first retailers we targeted when we decided to redevelop the mall back in 2006. This addition has been a long time coming and we are happy to see it finally come to fruition.”
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 developed Hammond Square and currently manages and leases the center.
Tenants include Academy Sports+Outdoors, Albasha Greek & Lebanese Restaurant, AMC Theatres, Bellagio Salon & Spa, Best Buy, Books-A-Million, Bra la Vie (coming spring 2017), Cato, Charming Charlie, Claire’s, Dillard’s, East of Italy, Foot Locker, GNC, Great American Cookies, Hibbett Sports, JCPenney, Justice, Kay Jewelers, Maurices, Menchie’s Frozen Yogurt, Nagoya Sushi & Japanese Steakhouse, Norris & Co. Salon, Obsession, Popcorn Bistro, Rite Aid, rue21, Sears, Shane’s Rib Shack, Shoe Dept. Encore, Sport Clips, Target, The Children’s Place, The Home Depot (coming 2017), T.J.Maxx, ULTA Beauty, Which Wich Superior Sandwiches and Zales. Outparcels tenants include Chase, Olive Garden, Raising Cane’s, Santa Fe Cattle Co., Smoothie King and Verizon.
For sales and leasing information at Hammond Square, contact Rhonda Sharkawy at rsharkawy@stirlingprop.com or (504) 620-8145.
Jill Meeks Appointed as President of Mobile Commercial Investment Real Estate Club
Stirling Properties’ Senior Sales and Leasing Executive, Jill Meeks, has been appointed as President of the Mobile Commercial Investment Real Estate Club. She assumed duties in early December and will serve in the position for one year.
The Mobile Commercial Investment Real Estate Club is a networking group for industry professionals to exchange ideas, insight and data on marketing information regarding commercial and investment property among its members. Club goals include promoting professionalism, co-operation and education in commercial, investment and exchange transactions.
As club president, Meeks’ responsibilities will include running the weekly meetings and arranging for speakers to attend and present educational opportunities for the members. Meetings occur every Thursday at 7:00 am at the Mobile Area Association of Realtors.
“The Mobile Commercial Investment Real Estate Club provides tremendous resources for both beginning and experienced real estate professionals, and it’s a great tool to network and meet others in the industry,” said Meeks. “As president of the club, I hope to be able to generate more interest and participation by arranging for various speakers from the community to attend our meetings that will be beneficial to members.”
Meeks has been active in the commercial real estate industry for more than 27 years. Her focus areas include office and retail leasing, commercial sales, and landlord and tenant representation. She is responsible for overseeing the property management of over 400,000 square feet of retail and office space in Mobile and Baldwin Counties.
Jill Meeks works out of Stirling Properties’ Mobile Office located at One St. Louis Centre, 1 St. Louis Street, Suite 4100 in Mobile. For club membership and information, Meeks can be reached at (251) 375-2499 or jmeeks@stirlingprop.com.
Retail Brokers Network (RBN) Names Chris Abadie As New President Elect
Stirling Properties’ Vice President and Manager of Commercial Brokerage, Chris Abadie, has been named 2017 President Elect of the Retail Brokers Network (RBN). He will assume the position on January 1, 2017.
The Retail Brokers Network (RBN), one of the nation’s largest retail real estate networking groups, announced the formation of the new Executive Committee to help facilitate RBN’s ongoing operations. The announcement was made following the organization’s mid-year meeting in Charleston, South Carolina.
The Executive Committee will be responsible for overseeing the Tenant, Restaurant and Investment Sales Councils as well as the Regional Directors, marketing RBN to customers and new member offices, implementing systems to increase activity within the network, financial management, and planning RBN’s participation in ICSC RECon.
“I am honored to serve as President Elect of the Retail Brokers Network,” said Abadie. “I am confident that my experience and professional knowledge give me the skill set to help position RBN as a valuable tool for its members and clients, and help them succeed in all their real estate needs and goals.”
Abadie has more than 16 years of experience in commercial real estate. Previously a Retail and Investment Sales Broker, his current focus at Stirling Properties includes directing sales efforts, new business development, recruitment and training of new agents. Abadie holds the designations of Certified Retail Property Executive (CRX), Certified Leasing Specialist (CLS), and Certified Commercial Investment Member (CCIM).
He is an active affiliate in the International Council of Shopping Centers (ICSC), the Louisiana CCIM Chapter, and the Commercial Investment Division of the New Orleans Metropolitan Association of Realtors (CIDNOMAR). Abadie is also an active member of RBN, serving as a member of the National Executive Committee, as well as representing Stirling Properties on the Tenant, Investment Sales, and Southeast Region Councils. Upon serving as President Elect next year, Abadie is slated to assume the role of President in 2018.
According to Debbie Currier, President of RBN, “The RBN network represents over 600 retail specialists across the US that help individuals and companies meet their real estate goals locally and nationally and our newly formed Executive Committee will provide the leadership structure that will help make RBN even more successful as we continue to grow.” She added, “I’m thrilled to welcome the Executive Committee members and I’m eager to work with them to accomplish our goals for 2017.”
Members of the new Executive Committee are former Regional or Council Directors that have an in-depth knowledge of the organization. The members of the 2017 committee are:
President – Debbie Currier
Currier Properties – Charlotte, North Carolina
President Elect – Chris Abadie
Stirling Properties – Covington, Louisiana
VP Operations – Tom Bruss
Commercial Property Associates – Milwaukee, Wisconsin
VP Marketing & Communications – Brad Umansky
Progressive Real Estate Partners – Rancho Cucamonga, California
VP Finance – Bryan Holt
Southpace Properties – Birmingham, Alabama
Secretary – Rob Samtman
Equity Retail Brokers – Plymouth Meeting, Philadelphia
Immediate Past President – Chuck Lanyard
The Goldstein Group – Paramus, New Jersey
The Louisiana Chapter of the Cystic Fibrosis Foundation’s Uncork the Cure Honors New Orleans’ Finest
Last Thursday, the Louisiana Chapter of the Cystic Fibrosis Foundation presented the 9th Annual Uncork the Cure fundraising event at The Cannery in New Orleans. More than 300 guests attended and sampled champagnes and sparkling wines from around the world, as well as food from some of New Orleans’ best restaurants.
For the second year, Uncork the Cure honored New Orleans’ Finest, a selected group of outstanding young professionals that show exemplary leadership, are active in their communities and have excelled in their profession. Stirling Properties’ very own Sales & Leasing Executive, Carly Plotkin, was among the honorees. In addition to her outstanding accomplishments, Carly raised more than $4,000 for the Cystic Fibrosis Foundation!
“I am honored to be selected by the Louisiana Chapter of the Cystic Fibrosis Foundation as one of New Orleans’ Finest, and to advocate for and advance the exceptional work that the Foundation does in our community,” said Plotkin. “This devastating disease hits close to home at Stirling Properties—three of our employees are directly affected by cystic fibrosis through family and friends.”
Brandon Gerak, Carly Plotkin, Saban Sellers, Lewis Stirling
Stirling Properties is a proud supporter of the Louisiana Chapter of the Cystic Fibrosis Foundation’s Uncork the Cure. Funds raised by the event have helped spur dramatic progress in the lives of those affected by cystic fibrosis (CF). The disease causes debilitating lung infections that lead to premature death. It affects about 30,000 adults and children in the United States and 70,000 people worldwide.
“We still lose precious young lives to this disease every day. It’s more important than ever that we rally our community to fight CF,” said Executive Director Ashley Mills. “We are grateful for every sponsor, volunteer and donor who supports Uncork the Cure.”
The Cystic Fibrosis Foundation is the world’s leader in the search for a cure for cystic fibrosis. The Foundation funds more CF research than any other organization, and nearly every CF drug available today was made possible because of Foundation support. Fifty years ago, most children with CF did not live long enough to attend elementary school. Today, people with CF are living into their 30s, 40s and beyond.
Congratulations, Carly, on being selected as one of New Orleans’ Finest and your support of the Louisiana Chapter of the Cystic Fibrosis Foundation!
#StirlingProud
Exit 16 and Rock N Roll Sushi Join Tenant Lineup at Fremaux Town Center in Slidell, Louisiana
Stirling Properties and CBL & Associates Properties, Inc. are pleased to announce and welcome new tenants to Phase II of Fremaux Town Center in Slidell, Louisiana.
Exit 16 women’s clothing boutique has leased 2,223 square feet of space and opened for business last weekend. This marks the 2nd retail location for the Mississippi-based company.
Rock N Roll Sushi will occupy 2,040 square feet of space and is also expected to open early next year. This is the 2nd Louisiana location for the sushi restaurant franchise.
Ryan Pécot, Stirling Properties’ Senior Retail Leasing & Development Executive, handled both transactions.
Previously announced, Albasha Greek & Lebanese Restaurant is still on track to open mid-November, and Smoothie King, Pacific Dental Services and Chipotle Mexican Grill are expected to open in the first quarter of 2017.
Fremaux Town Center, anchored by Dillard’s, Dick’s Sporting Goods, Kohl’s and Best Buy, is a roughly 350-acre regional mixed-use development located at the southwest corner of Interstate 10 and Fremaux Avenue in Slidell, Louisiana. The center includes approximately 635,000 square feet of retail and restaurant options, as well as Springs at Fremaux Town Center’s 296 luxury residential apartment units, and Springhill Suites by Marriott now under construction. Additional phases are coming soon with added retail and office park.
Tenants include Albasha Greek & Lebanese Restaurant (coming late 2016), Allure Spa, Aveda, Bath & Body Works, Bellagio Nail Spa, Best Buy, BJ’s Restaurant & Brewhouse, Books-A-Million, Buckle, Capital One, Carter’s, Charlotte Russe, Cheddar’s, Chico’s, Chipotle Mexican Grill (coming early 2017), Claire’s, Dick’s Sporting Goods, Dillard’s, dressbarn, Felipe’s Mexican Taqueria, Five Below, Five Guys Burgers & Fries, Forever 21 Red, Francesca’s, GNC, Goodyear, Great American Cookie Company, Journeys, Kirkland’s, Kohl’s, LA Fitness, Lane Bryant, LensCrafters, LOFT, Longhorn Steakhouse, Luxe 83, Marble Slab, Massage Envy, Mattress Direct, Michaels, Off Broadway Shoe Warehouse, Pacific Dental Services (coming early 2017), Panera Bread, Payless Shoes, PetSmart, Pier 1 Imports, Rack Room Shoes, Red Robin, rue21, Smoothie King (coming early 2017), Sports Clips, Springhill Suites by Marriott (coming 2017), Starbucks, Tesla (charging stations), T.J.Maxx, Torrid, Ulta Beauty, Verizon Wireless, Versona, Victoria’s Secret, Which Wich and Zales.
Fremaux Town Center is currently 97% leased, and jointly owned by affiliates of CBL & Associates Properties, Inc. and Stirling Properties, LLC. Stirling and CBL manage and lease the property.
For leasing information, contact Ryan Pécot at 337.572.0246 / rpecot@stirlingprop.com or Tim Gilmore at 423.490.8358 / Tim.Gilmore@cblproperties.com.
