Stirling Properties Brokers Sale of 14-Acre Property To Athlos Academies in Terrytown, Louisiana
Stirling Properties is pleased to announce the sale of 14 acres of property to Athlos Academies for a new charter school that will be located at 979 Behrman Highway in Terrytown, Louisiana.
Athlos Academies is preparing to build a 90,000-square-foot facility, including state-of-the-art classrooms and fully-equipped indoor physical fitness centers with both hardwood court and turf field space. The tuition-free, public school—Athlos Academy of Jefferson Parish—plans to open in the fall of 2017 and will serve approximately 900 K-6 students in its first year.
“I am proud to bring this opportunity to students where I live on the Westbank of Jefferson Parish,” says Ben Bourgeois, chair of the Athlos Academy of Jefferson Parish governing board. “This school will not only impact students, it will also contribute to the economic development of the community. We’re grateful to the many local organizations that recognize this and have already offered their support.”
Athlos Academies purchased the property from the Beninate Family represented by Nick Beninate, Mary Landry and Kathy Trauth.
Stirling Properties’ Sales and Leasing Executive, Joe Gardner, handled the transaction and says he is delighted with such progress for the area.
“Over the last 18 months, the Beninate family has consummated deals with DaVita Dialysis Clinic, Dollar General and now Athlos Academy. It’s great to work with sellers who are prudent as well as motivated to finalize deals,” said Gardner.
Athlos Academy of Jefferson Parish provides a unique approach to teaching and learning. Its mission is to provide high quality educational opportunities for children by building on three foundational pillars: Prepared Mind, Healthy Body, and Performance Character. Students will participate in daily scientifically-developed physical activity sessions, develop performance character traits, and benefit from a research-based academic curriculum that results in high academic achievement for all.
“Education is an important part of expansion and economic growth for any area,” said Gardner. “There is strong consumer demand for good schools, and demand increases real estate values; neighborhoods grow and retailers follow. It is a win-win for everyone.”
Stirling Properties has been at the forefront of commercial real estate in South Louisiana and the Gulf South region, and is committed to bringing quality retailers, developments and tenants to the area. 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, almost exclusively in Louisiana.
For sales and leasing information, contact Joe Gardner at (504) 620-8140 or jgardner@stirlingprop.com.
Mobile Office Market Assessment 3rd Quarter 2016
Stirling Properties is pleased to present the 2016 third quarter Mobile Office Market Survey. This report, compiled by Jack Conger and Jill Meeks, Sales and Leasing Executives of our Mobile office, is intended to track average rental rates, occupancy rates, and average absorption rates for West Mobile and the downtown Central Business District (CBD) on office buildings greater than 20,000 square feet. It was created to be a resource for agents, as well as tenants, landlords, developers, lenders, fellow brokers and anyone else looking for information about the Mobile Office market.
Jack Conger is our newest Sales and Leasing Executive in our Mobile office, focusing on industrial and office brokerage. Jill Meeks has over 27 years’ experience in commercial real estate.
Here’s an excerpt from Jack and Jill’s Market Assessment:
Since the Q1-16 Mobile Office Market Survey, the West Mobile office market had a number of noteworthy transactions that created quite a stir in the market. In the end, the office market experienced a slight decrease in average occupancy from 79.5%-79.4% and an average rental rate decrease from $15.50 per sq. ft. to $15.35 per sq. ft., reflecting a decrease in the absorption rate of 0.09% from Q1-16.
Mobile’s growth is evident with several building projects planned and underway. In the CBD, a new Federal Courthouse is under construction and the Meridian at the Port, a 264-unit apartment complex located at 300 Water Street, is awaiting construction. Walmart announced plans for a new 2.9 million sq. ft. distribution center in West Mobile, and Airbus launched the first airplane assembled by its new $600 million final assembly plant back in April. This activity promises to further stabilize the office market in Mobile, and Stirling Properties looks forward to being a part of this season of growth and creativity!
Please click here to view and download the PDF of the Mobile Office Market Survey. This survey provides a good summary of the Mobile office market and my hope is that it becomes a valuable resource in the market.
Golf Fore! Good
Stirling Properties hits a hole-in-one
with its Annual Stirling Invitational Golf Tournament
The 16th Annual Stirling Invitational Golf Tournament was held earlier this month at University Club Plantation in Baton Rouge. More than 120 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.
The tournament was a huge success, raising $30,000 for local nonprofit organizations! In support of Breast Cancer Awareness month, Mary Bird Perkins Cancer Center Foundation received $10,000 from the proceeds. The remaining proceeds were distributed to various local charitable causes.
Representatives from Mary Bird Perkins Cancer Center Foundation and LSU Tiger Athletic Foundation were on hand to receive a check for their contributions. Grady Brame, Executive Vice President of Stirling Properties (and resident golf expert!), presented a check to Todd Stevens, President and CEO of Mary Bird Perkins Cancer Center; and to Rick Perry, President and CEO of Tiger Athletic Foundation, during an awards celebration and cocktail reception following the tournament.
Todd Stevens, Jimmy Maurin, Grady Brame
What happens on the golf course does not stay on the golf course—here’s a recap of the days’ activities. The 1st Place Low Net was won by Steven Serio, Tyler Marquette, Lance McCardle and Colin O’Flynn. The Low Gross winning team included Paul Geyer, Rick Perry, Grady Brame and Jimmy Maurin. Additional awards were presented for 2nd, 3rd and 4th Low Gross and Low Net as well as 4 Closest to the Hole prizes, Longest Drive, and Highest Gross Score (we won’t name any names!).
A heartfelt thanks to all of our friends and supporters that participated and contributed to the Stirling Invitational Golf Tournament. This event would not be possible without you.
“The 16th Annual Stirling Invitational Golf Tournament was a tremendous success, and we were once again able to donate to worthy nonprofit organizations that are truly making a difference in our communities. We are grateful for the generosity of our tournament sponsors and thank everyone that came out to support us. We hope to see you again next year!” said Brame.
The Stirling Invitational Golf Tournament has contributed more than $184,000 to numerous organizations over the past 16 years, with Mary Bird Perkins Cancer Center Foundation being the majority beneficiary of proceeds. Since 2004, $117,000 has been donated to the center in support of its cancer research and care-giving efforts.
#StirlingProud
Additional sponsors include Economical Janitorial Supplies, Grass Unlimited, Calcasieu Mechanical Contractors, Robert Refrigeration, Ryan Gootee General Contractors, Thermal Products, Angelos Landscaping, Big Easy Parking Lot Maintenance, Chrestia Staub, Cost Segregation Services, Inc. (CSSI), Gulf South Electric, ITS Fire Alarm Security LLC, Massengale Grounds Management, Netchex Payroll Services, Precision Concrete Cutting of Louisiana, Republic Services, Inc., Star Service Inc., Trimark, Unit Design, Jones Fussell, BH Management Services, CBL & Associates Properties Inc., CSRS, Inc., Malone Roofing, Premier Service Team, Real Estate Tax Group, LLC, River Parish Disposal, LLC, Robert Levis Development, Southeastern Waterproofing, First Bank & Trust, Moran Construction Consultants.
A huge shout out to Fidelity Bank, Brad Jongbloed and his team, for sponsoring lunch.
Walk-On’s Coming to River Chase in Covington, Louisiana!
Stirling Properties, NAI Latter & Blum and Greenleaf Architects announce Walk-On’s Bistreaux & Bar is coming to River Chase mixed-use development in Covington, Louisiana. This will mark the 1st Northshore location for the highly anticipated sports restaurant and bar.
This week, the company closed on the purchase of 1.82 acres of property located on the northwest corner of Stirling Blvd. and Brewster Road next to Sam’s Club. Construction on the site will commence within the next couple of weeks. The restaurant will occupy roughly 9,600 square feet and is expected to open by the summer of 2017, according to Arkel Constructors who has been chosen as the General Contractor.
Stirling Properties’ Senior Retail Leasing & Development Executive, Rhonda Sharkawy, represented the property owners, and Beau Bourque with NAI Latter & Blum represented the tenant. Greenleaf Architects was selected to design the custom restaurant for the new Northshore location.
The popular restaurant started by two LSU students in Baton Rouge has thrived over the years, and expanded into multiple locations. The next stop for Walk-On’s is right here in St. Tammany Parish, and Greenleaf Architects is fortunate enough to work closely with Walk-On’s Enterprises in making this happen. As a firm full of LSU graduates who frequented the original location on Burbank Drive throughout college, this is truly an honor for Greenleaf Architects. The Covington location will include a rooftop bar, “The Upper Deck”, an element unique to the design by Greenleaf Architects. The Upper Deck will feature group seating and additional space for catching a game under the skyline of St. Tammany Parish.
“Stirling Properties is pleased to welcome Walk-On’s Bistreaux & Bar to River Chase,” said Townsend Underhill, Senior Vice President of Development at Stirling Properties. “They join a dynamic assortment of restaurants, retailers, hospitality, multi-family, and office users offering a one-of-a-kind, mixed-use destination for the entire region.”
“Among other attributes, low stress ingress & egress and complementary anchor/junior anchor tenants together with Stirling Properties’ and St. Tammany Parish’s commitments to developing a live/work/play environment that improves quality of life attracted Walk-On’s to River Chase. I look forward to seeing Greenleaf Architects’ exceptional design come to life,” said Beau Bourque, Sales & Leasing Associate with NAI Latter & Blum.
River Chase is a 253-acre premier mixed-use development located on the southeast corner of Interstate 12 and LA Highway 21 in Covington, Louisiana. The center includes retail, restaurants and entertainment options, as well as a Holiday Inn Express, Regal Cinema, 500+ luxury residential apartment units, and a 48,000-sqaure-foot class A office building currently under construction. Stirling Properties developed River Chase and currently manages and leases the property.
Anchored by Target, Belk, JCPenney, Best Buy, Marshalls, Ross Dress For Less and Sam’s Club, River Chase shopping center occupies 945,000 square feet, and is the largest open air retail center in Louisiana. Additional tenants include Carter’s, Cato, Charming Charlie, Chuck E. Cheese’s, Cost Plus World Market, Dickey’s Barbecue Pit, Family Cuts, Fidelity Homestead Savings Bank, Five Below, GameStop, Hibbett Sports, Holiday Inn Express, In Style Salon, John V Salon & Spa, Justice, Lane Bryant, Maurices, Men’s Wearhouse, Michaels, Nevada Bob’s Golf, Nutrishop, Oreck Vacuums, Pink & White Nails, Regal Cinemas, River Chase Cleaners, Rooms To Go (opening 2017), rue 21, Sephora, Shoe Carnival, The Children’s Place, ULTA Beauty, Verizon Wireless, Walk-On’s Bistreaux & Bar, Which Wich and Zoe’s Kitchen. Outparcel tenants include Chick-fil-A, LongHorn Steakhouse, Regions Bank, Taco Bell, Texaco and Wendy’s.
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.
