Stirling Properties To Redevelop Old Metairie Village in Metairie, Louisiana
Stirling Properties announces the $2.5 million renovation and redevelopment project of Old Metairie Village shopping center, an 84,400-square-foot, 3-story mixed-use development located at the corner of Metairie Road and Focis Street in Metairie, Louisiana.
Plans for the project consist of an overall upgrade to the entire façade, including the addition of architectural shingles and standing seam metal roofing, renovated walkways, new awnings, upgraded lighting and landscaping, and painting of the entire center. The general contractor on the project is Trimark Constructors LLC, and the architect is Steve Zito with Zito∙Russell Architects, P.C.
The redevelopment of the center will be completed in two initial phases. Construction will commence in mid-June on Phase I of the project, which includes the north and west buildings and upgraded lighting in the parking lot, and is slated for completion in early November of 2018. Phase II of the renovation encompasses the two eastern buildings. Construction on the second phase is planned to begin in late December and will wrap up in early spring of 2019.
Old Metairie Village is currently comprised of upscale retail occupying the first floor and medical and office tenants occupying the second and third floors. The center is 98% leased. Tenants include U.S. Post Office, Massage Envy, GNC, CC’s Coffee House, Zoës Kitchen, Metairie Bank & Trust, Verizon, Longbranch Healthcare, Boudreaux’s Jewelers, Subway, Poke Loa, and more. Stirling Properties manages and leases the property. It is owned by Old Metairie Village Limited Partnership.
“To keep pace with the tremendous growth in the Old Metairie neighborhood and surrounding areas, Stirling Properties is excited about the redevelopment of this upscale community retail center,” said Grady Brame, Executive Vice President of Stirling Properties. “Old Metairie Village will continue to offer the same great mix of tenants, but will now have a more modernized feel to better position it to serve the surrounding community for many more years to come.”
Stirling Properties manages more than 19.3 million square feet of property across the Gulf South region, including retail, office, industrial, medical, residential, and mixed-uses. Other notable Stirling Properties projects in the area include Oakridge Place Shopping Center (Metairie), Mid-City Market (New Orleans), Magnolia Marketplace (New Orleans), and Pan American Life Center (New Orleans).
For leasing information, contact Joe Gardner, CCIM, at jgardner@stirlingprop.com or (504) 200-5730.
Stirling Properties’ Commercial Agents Among Top Industry Producers In The Greater New Orleans Area
Stirling Properties commercial real estate agents were recently honored for outstanding industry achievements and transactions during the New Orleans Metropolitan Association of REALTORS® (NOMAR) Commercial Investment Division’s (CID) 25th Annual Achievement Awards ceremony.
(Pictured L to R: Chris Abadie, Sonia Shoemaker, Carly Plotkin, Lauren Ryan, Joe Gardner, Melissa Warren, and Gaines Seaman)
Gaines Seaman receives the F. Poche Waguespack Award
Gaines Seaman, Sales & Leasing Executive, earned the Overall Top Producer of 2017 and was the recipient of the prestigious F. Poche Waguespack Award for outstanding achievement with a sales and leasing volume of more than $33.9 million. Seaman was also awarded for Top Landlord Office Lease and Overall Top Office Producer. Additionally, he was instrumental in brokering the deal that earned Stirling Properties 2nd Place for Largest Transaction Award to a Company with the recent 178,000-square-foot office lease to DXC Technology in New Orleans’ CBD.
Rhonda Sharkawy, Senior Retail Leasing & Development Executive, was the overall top retail producer in the greater New Orleans area with a sales and leasing volume of nearly $38 million in 2017. She received the newly created designation of Overall Hall of Fame for Retail Achievement. She was also awarded Top Landlord Retail Lease and Most Transactions for 2017. A Hall of Fame was created in 2014 after Sharkawy received the F. Poche Waguespack Award five years in a row.
Lauren Ryan, Sales & Leasing Executive; Melissa Warren, CCIM, Sales & Leasing Executive; and Beezie Landry, Vice President of Investment Advisors were among Production Award recipients for obtaining total commercial credit sales and leasing of more than $2.5 million.
With forty agents and ten offices spanning the Gulf South region, Stirling Properties’ brokerage team specializes in all aspects of commercial real estate including retail, office, industrial, and investment sales. In 2017, our commercial brokers completed 651 transactions totaling 5.1 million square feet, with a total commercial volume of over $318 million.
What’s Happening at Fremaux Town Center & Fremaux Park?
Stirling Properties is pleased to announce new tenants and development updates at Fremaux Town Center and Fremaux Park in Slidell, Louisiana.
Fremaux Town Center:
- The Lost Cajun, a new-to-market Cajun-themed restaurant concept, will occupy 3,790 square feet of space in the former Felipe’s Mexican Taqueria location on Town Center Parkway and plans to open in the late summer to early fall. The Lost Cajun will serve gumbo, jambalaya, red beans and rice, etouffee, beignets, and other Louisiana fare. The chain currently has 17 restaurants throughout Colorado, Texas, Tennessee, and South Carolina. This marks the 1st Louisiana restaurant for the franchise.
- Men’s Wearhouse is also joining the tenant line-up at Fremaux Town Center. The men’s clothing and accessories retailer will occupy a 3,500-square-foot space located at 750 Town Center Parkway between Charlotte Russe and Torrid and plans to open in November.
- Previously announced, Pizza Platoon is still on schedule to open its first restaurant location later this summer. The fast-casual pizza eatery will be located on the east side of Levis Lane, next to Kay Jewelers.
Ryan Pécot, Senior Retail Leasing & Development Executive with Stirling Properties, handled the lease transactions.
Fremaux Town Center, anchored by Dillard’s, Dick’s Sporting Goods, Kohl’s, and Best Buy, is part of the roughly 350-acre regional mixed-use development located at the southwest corner of Interstate 10 and Fremaux Avenue in Slidell, Louisiana. The retail center includes more than 640,000 square feet of shopping and restaurant options. Fremaux Town Center is jointly owned and operated by CBL Properties and Stirling Properties.
Tenants include Albasha Greek & Lebanese Restaurant, 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, Claire’s, Dentists of Slidell, Dick’s Sporting Goods, Dillard’s, dressbarn, Exit 16 Boutique, European Wax Center, Five Below, Five Guys Burgers & Fries, Forever 21 Red, Francesca’s, GNC, Goodyear, Great American Cookie Company, Journeys, Kay Jewelers, Kirkland’s, Kohl’s, LA Fitness, Lane Bryant, LensCrafters, LOFT, Longhorn Steakhouse, Luxe 83, Marble Slab, Massage Envy, Mattress Direct, Men’s Wearhouse (coming soon), Michaels, Off Broadway Shoe Warehouse, Panera Bread, Payless Shoes, PetSmart, Pier 1 Imports, Pizza Platoon (coming soon), Rack Room Shoes, Red Robin, Rock N Roll Sushi, rue21, Smoothie King, Sports Clips, Starbucks, Tesla (charging stations), The Lost Cajun (coming soon), T.J.Maxx, Torrid, ULTA Beauty, Verizon Wireless, Versona, Victoria’s Secret, Which Wich, and Zales.
For leasing information, contact Ryan Pécot at 337.572.0246 / rpecot@stirlingprop.com or Michael Oswald at 423.490.8272 / mike.oswald@cblproperties.com.
Fremaux Park:
The adjoining Fremaux Park includes Springs at Fremaux Town Center’s 296 luxury residential apartment units and Springhill Suites by Marriott soon under construction. Additional phases are coming soon with added residential, retail, and office park. Fremaux Park is a Stirling Properties mixed-use development.
- Recently announced, Saltgrass Steak House has started construction on its site in Fremaux Park and is on track to open late this fall.
For sales or leasing information, contact Ryan Pécot at 337.572.0246 / rpecot@stirlingprop.com
Stirling Properties Forms Investment Advisors Division
Stirling Properties commercial real estate company is expanding its depth of services in the Gulf South region through the formation of an Investment Advisors Division. The company’s acquisition, disposition, and investment sales efforts will be consolidated under one departmental umbrella.
Marty Mayer, President & CEO of Stirling Properties, said, “Evolution in the commercial real estate industry is creating rapid change, increasing the need for professional real estate advice and guidance for investors and property owners. Deepening our services through the formation of an Investment Advisors Division will help us to better elevate, promote, and brand the capabilities of Stirling Properties in this arena.”
Stirling Properties’ Investment Advisors Division will be led by Beezie Landry, Vice President of Investment Advisors. Landry began his career at Stirling Properties more than 17 years ago. Over the last few years, he has been responsible for the acquisition and disposition of nearly $500 million of investment assets in Louisiana and Mississippi, focusing on single and multi-tenant retail and medical office. He has represented a wide range of client types including private and institutional investors and has completed transactions with REITs such as Weingarten Realty Investors, General Growth, VEREIT, Realty Income, and AEI Funds.
Stirling Properties’ Investment Advisors also welcomes seasoned professional Chad Rigby, CCIM, as Managing Director-Multifamily Sales. Previously, Rigby worked with Stream Realty, ARA Newmark, and most recently, with Rigby Advisors where he was responsible for all aspects of multifamily investment sales from transaction management, valuation, market analysis, and underwriting, to client development throughout Louisiana and Mississippi. He has transacted over $500 million, totaling approximately 7,000 units. Rigby holds a B.S. in International Trade and Finance from Louisiana State University and is a licensed real estate associate broker in Louisiana and Mississippi.
In addition, three other Stirling Properties’ agents will become part of Stirling Properties’ Investment Advisors. Jeff Barnes, CCIM, has been named Senior Investment Advisor, and will work from the company’s Mobile office; Saban Sellers has been named Investment Advisor-Multifamily, and will work from the New Orleans office; and Griffin Lennox will serve as Investment Advisor and Analyst, working from the Northpark office in Covington.
“Our vision for Stirling Properties’ Investment Advisors is to build one cohesive team with specific expertise across all property types that will add tremendous value for our clients,” said Landry. “I am proud to say that we have assembled a fully integrated team consisting of advisors, analysts, and marketing specialists with unsurpassed local market knowledge and a proven track record of results.”
“I am incredibly excited to join the team at Stirling Properties and work with them to build a new and robust Investment Advisors Division. My background in multifamily investments will help to benefit a diverse range of clients,” said Rigby.
Stirling Properties Welcomes Saltgrass Steak House to Pinnacle Nord du Lac in Covington, Louisiana
Stirling Properties commercial real estate company is pleased to announce that Saltgrass Steak House is coming to Pinnacle Nord du Lac shopping center in Covington, Louisiana.
Saltgrass Steak House at River Marketplace in Lafayette, LA
Saltgrass Steak House closed on the acquisition of 1.41 acres of property at the intersection of Pinnacle Parkway and Westshore Drive, between Cracker Barrel and the new Mercedes-Benz dealership. The Texas-themed steak restaurant will occupy approximately 8,000 square feet of space.
This marks Saltgrass Steak House’s seventh location in Louisiana. This will be the second restaurant announced on the Northshore, with the first to be located at Fremaux Park in Slidell. Rhonda Sharkawy, Stirling Properties’ Senior Retail Leasing & Development Executive, handled the transaction. Sharkawy exclusively represents Saltgrass Steak House and the Landry’s Brands in Louisiana.
Pinnacle Nord du Lac, regional shopping center, is located on the northeast corner of Interstate 12 and LA Highway 21. Currently, Pinnacle Nord du Lac is comprised of 327,000 square feet of existing retail space, with an additional 162,000 square feet of future retail expansion planned. The retail center is 97% leased, and anchor tenants include Kohl’s, Academy Sports + Outdoors, Hobby Lobby, and Petco, as well as multiple restaurant options. Stirling Properties handles the facility management of the property.
Stirling Properties also developed and manages the adjacent River Chase mixed-use center on the southeast corner of Interstate 12 and LA Highway 21, which houses national anchor tenants such as Target, Sam’s Club, Belk, JCPenney, Regal Cinema, Best Buy, Marshalls, Ross Dress For Less, Cost Plus World Market, Michaels, and ULTA Beauty.
Stirling Properties Brokers Sale of 184,608 SF Executive Office Tower in Metairie, LA
Stirling Properties commercial real estate company has brokered the sale of the Executive Office Tower located at 3500 North Causeway Boulevard in Metairie, LA. Roger Bajon, Broker Associate with Stirling Properties, represented the seller in the property transaction.
The Executive Office Tower is a 184,608-square-foot, 14-story high-rise office building located in the heart of the Metairie Business District. Conveniently situated near the southwest intersection of Causeway Boulevard and West Esplanade Avenue, the property offers proximity and easy access to all major destinations around the city including the New Orleans CBD, Northshore, and Louis Armstrong International Airport.
A well-established real estate firm out of Dallas, TX, purchased the office building as an investment property. The building will remain a multi-tenant office tower, housing notable tenants such as Keystone Engineering. The buyer has plans for future capital improvements to the property, including remarketing and increasing occupancy of the office space.
“This sale truly demonstrates the strength of the New Orleans office market—particularly in the suburban office market area of Metairie,” said Bajon. “We have worked with this buyer for quite some time to secure the acquisition of this property. The Executive Office Tower’s aesthetic attraction, ample surface parking, strong historic occupancy, and strategic location in such a desirable business district are all key factors that brought this deal to fruition.”
Roger Bajon can be reached at rbajon@stirlingprop.com or (985) 246-3749.
