Stirling Acquires Beck Partners; Expands Eastern Division
Stirling is pleased to announce that it has acquired Beck Partners, one of Northwest Florida’s leading commercial real estate firms and manager of the most commercial square footage in Northwest Florida. With the acquisition, Stirling’s Pensacola office expands and adds a Tallahassee, Florida office.
Stirling’s acquisition of Beck Partners adds 30 commercial real estate professionals, over 1.5 million SF of managed commercial properties, and active brokerage in the State of Georgia.
Stirling CEO, Townsend Underhill, is enthusiastic about the acquisition. “The Beck Team is the strongest commercial real estate team in Northwest Florida. It has been a remarkably rewarding experience getting to know the Beck Team and learning about their outstanding business and culture. Beck’s lines of business and expertise align well with Stirling’s and complement our geography as we continue to grow our presence in the Gulf South. We are excited to have Justin, Stacy, Brice, and the entire organization join the Stirling Family.
Founded in 1981 by Gregg Beck, Beck Partners grew to be one of the most trusted commercial real estate firms on the Gulf Coast. Beck Partners earned local and national recognition from CoStar’s PowerBroker lists, multiple NAIOP of Northwest Florida’s Deal of the Year awards, including Justin Beck, CEO, on InWeekly’s PowerList, and more.
Justin Beck, CEO of Beck Partners, will remain with the Pensacola team as Vice President of the Florida Region, as well as Stacy Taylor, as Regional Vice President who will serve as the Pensacola/ Tallahassee Market Leader, and Brice Pelfrey as Regional Vice President of Asset Management . “We are thrilled to continue our work serving our clients along the Gulf Coast with Stirling,” says Justin Beck. “Our alignment of culture and values makes this merger exciting. Stirling’s depth of resources will provide more opportunities and better outcomes for our teams and clients.”
With this acquisition Stirling will be able to enhance its services to existing clients as well as our new Beck clients. Stirling is poised for tremendous growth throughout the region. Beck is a full service Commercial Real Estate firm specializing in Office, Industrial, Retail, Healthcare and Multi-family properties. Beck’s service offering includes Asset Management, Property Management, Commercial Leasing, Commercial Investment Sales, Development, and Commercial Advisory Services with a focus on markets in the Florida Panhandle, and Southern Alabama.
Beck Partners’ office, located at 125 W. Romana Street, Suite 800 in Downtown Pensacola will take on the Stirling brand with the acquisition. Its telephone number will remain (850) 477-7044. Any properties previously marketed and managed under the Beck Partners brand will transition to Stirling.
Stirling and Kent Design Build Announce Groundbreaking of New Corporate Headquarters at River Chase
Stirling and Kent Design Build today joined St. Tammany Corporation to announce the commencement of construction for River Chase Office II, a cutting-edge Class A office building spanning over 50,000 square feet, which will serve as the new corporate headquarters for both Stirling and Kent Design Build. This strategic move to the River Chase development reflects the companies’ commitment to growth, innovation, and investment in St. Tammany Parish.
“Relocating our corporate headquarters is a significant milestone for Stirling. St. Tammany Parish is an ideal location for our corporate headquarters, allowing us excellent connectivity to the entire Gulf South Region,” said Townsend Underhill, President & CEO of Stirling. “We are enthusiastic about the opportunities this move presents for our company and our employees. The new building not only signifies our commitment to growth but also positions us for greater achievements in the years to come.”
Stirling and Kent Design Build’s new corporate headquarters, near the intersection of Interstate 12 and LA Highway 21, was designed by Southeastern Louisiana-based architecture firm Eskew Dumez Ripple (EDR). The state-of-the-art design represents an investment of more than $20 million and will include a rooftop terrace, a reservable boardroom for the tenants of the building, and a geothermal HVAC system. The array of advantages provided by this modern workplace facility will bolster the company’s commitment to serving clients and employees.
“St. Tammany Parish is our home, and as a lifelong resident of the Northshore, witnessing the ongoing development of the market area has been truly incredible,” said Kyle Kent, President & CEO of Kent Design Build. “As our company continues to expand, we are proud to continue to invest in our community and work more closely with our partners to deliver world-class projects to the Northshore, South Louisiana, and beyond.”
Both companies have a long history of investing and doing business in St. Tammany Parish. Stirling has had an office in the community for over 40 years, and Kent Design Build has been based in St. Tammany since its founding in 1996. Together, they employ over 200 people in St. Tammany.
“Stirling and Kent Design Build have been tremendous partners for St. Tammany Parish, and they have renewed their commitment to our community with this investment,” said St. Tammany Parish President Mike Cooper. “When great companies, like Stirling and Kent Design Build, invest in St. Tammany, it not only provides quality jobs for our citizens but also boosts our nation-leading economy.”
“St. Tammany Parish has long been the destination of choice for corporate headquarters and the highly skilled talent that powers their operations,” said Chris Masingill, CEO of St. Tammany Corporation. “These two premier St. Tammany-based companies represent a cross-section of two industry sectors, real estate and construction, that are critical to our local and regional economy, and their reinvestment into our community exemplify our message that businesses can start up, scale, and stay right here on the Northshore and become incredibly successful.”
Renderings of the new facility are below. For leasing information, contact Ryan Murphy at (985) 246-3771 or rmurphy@stirlingprop.com.
Stirling & Level Homes Developing Arabella at Dutchtown Townhomes in Ascension Parish
Through a joint venture with Level Homes, Stirling announces the development of Arabella at Dutchtown Townhomes in Geismar, Louisiana. This project marks Stirling’s continued strategy of, build-to-rent development.
Stirling and Level Homes recently closed on the acquisition of 7.51 acres of property and plan to develop 48 units along with a leasing office and clubhouse. The new development will consist of 3-bedroom, 2.5-bathroom high-quality, single-family townhomes expressly built for the rental market. The Architectural Studio leads the project design team, and the builder is Level Homes. Construction will begin on the first townhomes later this month, and the development is expected to be complete by the end of 2024.
Through the joint venture, Stirling will be responsible for development, horizontal land improvements, and amenities, in addition to asset management and accounting oversight of the project. Level Homes will be responsible for all vertical building improvements. BH Management will handle daily onsite management and leasing.
“The population of Ascension Parish has grown significantly over the past ten years and is projected to continue, and we believe this is an ideal product type for this market on a site that is extremely well located within the market,” said Townsend Underhill, President of Development with Stirling. “Stirling is excited to continue its commitment to deliver high quality Build to Rent communities. “
“Level Homes is excited to be a part of the Arabella development adjacent to our Belle Savanne, for-sale community. Our company has an extensive track record of developing high-quality, master-planned communities throughout Southeast Louisiana. We look forward to creating value-driven homes and a unique residential experience for the Prairieville area,” said Todd Waguespack, Managing Partner with Level Homes.
This product type is one of the fastest-growing sectors of the U.S. housing market as build-to-rent properties continue to be attractive to seniors, singles, and families alike—as it offers renters the conveniences of homeownership without the financial and maintenance burdens that come with it.
For more information on Stirling’s development services, contact John Woodard, Director of Development and Asset Management, at jwoodard@stirlingprop.com or (504) 523-4481.
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.
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.
