Come Celebrate Christmas at the Square!
Tis’ the season to celebrate! Join us at Hammond Square for the 6th Annual Christmas at the Square celebration in Hammond, Louisiana, on Saturday, December 8th from 10am-12pm. This FREE event is open to the public and a holly jolly time for all ages!
Santa and Mrs. Claus will be in attendance to help spread the holiday cheer. The celebration will feature a petting zoo, pony rides, face painting, a caricature artist, a live radio remote with Cajun 107.1 and more.
During the event, Hammond Square will also be collecting personal care items for Our Friends Closet, a community based nonprofit organization that provides hygiene and personal care products to low income, homeless and unaccompanied students in need. Please help us make the holidays special for middle and high school students in Tangipahoa Parish by donating items such as toothbrushes, toothpaste, body wash, feminine products, laundry pods, face wipes, socks and more. Stop by Our Friends Closet’s booth to drop your items during the event!
So come out and celebrate Christmas at the Square with us…and Santa Claus! While you’re there, don’t forget to visit Hammond Square’s great retail stores and restaurants for all your Christmas shopping and holiday needs.
Visit HammondSquare.com or “like” us on facebook.com/hammondsquare for a complete list of retailers and events.
Stirling Properties Expands Management Portfolio
Stirling Properties commercial real estate company has assumed the property management duties of Waterside Marketplace in Chesterfield Township, Michigan, as part of an ongoing partnership with PMAT Real Estate Investments.
Stirling Properties partnered with New Orleans-based PMAT to manage the company’s growing portfolio of shopping centers located across the Southeast, Sunbelt, Carolinas, Mid-Atlantic, and Midwest.
PMAT recently acquired Waterside Marketplace, a 291,231-square-foot retail center located at 50753 Waterside Drive in Chesterfield Township (Detroit MSA), at the southwest intersection of 23 Mile Road and Interstate 94. The multi-anchored center is 94% leased with a great mix of national tenants including Dick’s Sporting Goods, Best Buy, T.J.Maxx, Bed Bath & Beyond, ULTA Beauty, JOANN Fabrics & Crafts, and Old Navy. The center is also shadow-anchored by JCPenney and Lowe’s Home Improvement. Waterside Marketplace is the dominant regional shopping center within the growing Chesterfield Township trade area.
“Stirling Properties is pleased to welcome Waterside Marketplace to our growing management portfolio. This is a leading retail center that serves a large portion of Detroit’s suburban area around Chesterfield Township and performs very well in the market,” said Donna Taylor, Sr. Vice President of Asset Management & New Business with Stirling Properties. “We look forward to working with PMAT on the management and operations of the center to enhance it even more.”
Stirling Properties owns and manages more than 20 million square feet of commercial real estate, including office, retail, industrial, medical, residential, and mixed-use properties.
For asset management information, contact Donna Taylor at (985) 246-3758 or dtaylor@stirlingprop.com.
5.11 by Karl Malone coming to Metairie, Louisiana
“The Mailman” delivering purpose-built apparel and gear to local market.
5.11 by Karl Malone in Ruston, Louisiana
Stirling Properties commercial real estate company announced that 5.11 by Karl Malone retail store is coming to Lafreniere Plaza Shopping Center in Metairie, Louisiana. This is the second Louisiana retail location for the company.
5.11 by Karl Malone will offer men’s and women’s apparel and clothing, footwear, bags and packs, accessories, and professional gear by 5.11 Tactical, the world’s leading innovator of purpose-built gear. The global brand features superior tactical apparel and gear for law enforcement, first responders, tactical operators and recreational enthusiasts from head to toe.
NBA Hall-of-Famer Karl “The Mailman” Malone will operate the Metairie location. The store will encompass 5,070 square feet of retail space at 6601 Veterans Memorial Boulevard and plans to open by January of 2019. Malone also operates the only other Louisiana franchise in Ruston that opened late last year.
“We are excited to bring 5.11 purpose-built gear to the Metairie market and surrounding New Orleans area,” said Malone. “The 5.11 brand is built on the foundation of durability, quality and value. Our store will be well stocked with the perfect performance clothing and accessories for any professional or recreational mission.”
The FBI training academy adopted the original 5.11® pant as its training pant in 1992, forging a decades-long relationship that drives 5.11®’s commitment to public safety and the first responder community. The company began developing a more extensive law enforcement line in 2003 working with public safety professionals to create gear that meets the needs of real people in the field. In 2012, 5.11 expanded its women’s collection to include premium uniforms, covert clothing, fitness apparel and more. Today, 5.11® is expanding into the outdoor and fitness markets with products like the Vaporlite short and the ABR trainer.
Carly Plotkin, Sales and Leasing Executive with Stirling Properties, is the listing agent for Lafreniere Plaza Shopping Center. Karla Smith of CBRE represented 5.11 by Karl Malone in the lease transaction. The retailer will join co-tenants HomeGoods, T.J.Maxx, Sandro’s Trattoria, State Farm, Subway, Pickleberry Kids, and several others in the center.
For leasing information, contact Carly Plotkin at cplotkin@stirlingprop.com or (504) 620-8120.
Loft18 Coming to The Shops at Sawyer Yards in Houston, Texas
Stirling Properties serving as brokerage tenant rep in company expansion.
Loft18 Rendering
Stirling Properties commercial real estate company is pleased to announce that Loft18 indoor golf and entertainment complex is joining the tenant lineup at The Shops at Sawyer Yards in Houston, TX. Stirling Properties is serving as the brokerage representative for the company in its national expansion efforts.
Loft18, founded in New Orleans, Louisiana, is an innovative, interactive golf concept featuring custom-built, state-of-the-art Full Swing Golf simulators that showcase nearly 100 championship courses to deliver precision play at its finest for golfers of all experience levels. And for non-golfers, Loft18’s full-service bar and restaurant offers gastro-pub fare, craft beer and cocktails, and New Orleans’ famous service and hospitality.
This marks the second retail location for Loft18. It will occupy approximately 6,950 square feet of space located at 2313 Edwards Street on the western endcap of The Shops at Sawyer Yards. Buildout is underway, and it is expected to open in the summer of 2019.
The Shops at Sawyer Yards is a 40,000-square-foot urban redevelopment project located at the corner of Edwards and Sawyer Streets, in the heart of the Washington Avenue Arts District. The Shops at Sawyer Yards features creative office space, retail, and entertainment spaces for lease. Other tenants in the project include Sticky Chicken, Awesome Bites, Pokeology, Bayou City Smiles, Polish Parker & Roe, Local Pho, Poitín, Satori Salon, and Orangetheory Fitness.
Sawyer Yards in Houston, Texas
“After researching and scouting various locations, we decided to expand the Loft18 concept to The Shops at Sawyer Yards because of the unique property offerings and access to the growing local population,” said Greg Whitman, President/Owner of Loft18. “We are excited to open our doors next summer and to deliver the ultimate indoor golfing experience—complete with award-winning golf simulators and club-level dining and drinking—to the Houston area. Whether you like golf or not, you will have a good time at Loft18.”
The Loft18 concept came about four years ago by three long-time friends with backgrounds in hospitality, sales and entertainment and a fervent love for the game. Seeing a niche in the golf entertainment industry, the group opened its first location on Metairie Road in Metairie, Louisiana, a suburb of New Orleans last fall.
Now, the company is planning expansion in several major markets across the country, as well as developing external partnership opportunities in other areas such as Dallas, Nashville, Chicago and Atlanta to name a few.
Lauren Ryan and Thomas Bryan, Sales and Leasing Executives with Stirling Properties, represented Loft18 in securing the historic Houston location, along with Bruce Wallace and Radkey Jolink with CBRE out of Houston, TX.
“Stirling Properties is thrilled to represent Loft18 in their expansion efforts, and to help facilitate the process of identifying and establishing relationships with co-brokers in other markets to scout out the ideal locations for this exceptional company,” said Ryan. “Loft18 was the first locally-owned golf simulation and entertainment complex in the New Orleans area, and they are setting the course for a unique entertainment experience that will be highly successful in any market.”
For leasing information, please contact Lauren Ryan at lryan@stirlingprop.com / (504) 620-8124 or Thomas Bryan at tbryan@stirlingprop.com / (504) 620-8138.
Club 4 Fitness Expanding in the Gulf South
Image www.club4fitness.com
Stirling Properties is pleased to announce that Club4Fitness, an all-inclusive fitness facility, is expanding in the Gulf South market with the addition of four new locations in Alabama and Louisiana. Justin Toomey, Broker Associate with Stirling Properties, and Kenneth Herring, broker with Kerioth Corporation worked with The Club to identify and secure the latest retail locations:
- The Club will occupy 20,000 square feet of retail space in Hillcrest Plaza located at 813 Hillcrest Road in Mobile, AL. Club 4 plans to open this facility first quarter of 2019. Cummings and Associates, Inc. represented the property owner in the lease transaction.
- In addition, the company is leasing 29,696 square feet of space in Schillinger Place located at 2502 South Schillinger Road in Mobile, AL. Angie McArthur with Stirling Properties represented the landlord in the transaction. Club 4 plans to open this facility in the first quarter of 2019.
- In Louisiana, The Club has recently secured a 27,805-square-foot retail space in Caffery Center located at 4510 Ambassador Caffery Parkway in Lafayette. Jarrett Adame with Realm Realty represented the landlord in this transaction. Club 4 plans to open this facility in the first quarter of 2019.
- The Club has also just secured a 30,907-square-foot retail space at The Pavilion Shopping Center in Kenner, Louisiana, and plans to open in the first quarter of 2019. John Moss with LA Retail represented the landlord in this transaction.
The Club offers a wide array of health and fitness equipment that allows members to achieve their health and fitness goals through regular exercise programs. From the building design to the variety of services, The Club offers a truly unique experience. With the mission of improving the physical, medical, spiritual and emotional health of local communities, Club 4 Fitness is excited to bring its concept to local markets.
Club 4 Fitness currently operates ten fitness clubs in Mississippi. This marks the 1st location for both Alabama and Louisiana.
For leasing information, contact Justin Toomey at jbtoomey@stirlingprop.com or (251) 342-7229.
Have no fear, for the death of retail is not near
Beware! Caution! Warning! These are just a few of the wicked things we have heard about brick-and-mortar retail over the last couple of years, but it’s just a bunch of hocus-pocus.
This month, it seems something else is brewing in the industry: optimism. According to a recent survey conducted by the National Retail Federation, Halloween spending is projected to hit $9 billion this year! That’s the second highest in the survey’s 14-year history, just missing last year’s record $9.1 billion in sales. More than 175 million Americans are planning to participate in Halloween festivities, each spending an average of $87, also up from last year.
Despite the myths that still haunt the retail industry, the truth is that overall retail is thriving. Thanks to a robust economy, retail sales have increased year over year since 2015—forecasters are expecting a 4.5% growth for 2018. Consumer sentiment is high, with the index topping 100 for only the third time since January 2004.
Fact-based analysis shows that consumers are still spending; they are merely spending differently. We’ve heard the horror story of the bloody battle between physical stores and e-commerce, but it’s not what it appears to be. In fact, e-commerce still only accounts for less than 10% of total retail sales. Furthermore, over half of those online sales are actually generated by brick-and-mortar retailers!
Many brick-and-mortar retailers are spending billions of dollars on their online platforms and supply chain networks. It’s the brick-and-mortar retailers driving the e-commerce.
Indeed, many once pure-play retailers are now opening brick-and-mortar stores—e-commerce retailers plan to open 800 physical stores in the next five years. Mattress startup Casper is rolling out a brick-and-mortar strategy, men’s retailer UNTUCKit is opening stores across the country, Blue Nile, Peloton, Birchbox, and the list goes on. Even online furniture giant Wayfair is dipping its toe in physical stores. As they say, “If the broom fits, fly it.”
It might sound batty, but research shows 78% of consumers prefer to shop in-store and spend significantly more in physical stores than online. On top of that, e-commerce is expensive. With the high cost of delivery and even higher cost of returns, it is virtually impossible to make a profit through pure online tactics. Successful retailers are maximizing sales by leveraging both brick-and-mortar and online strategies.
Looking a bit down the road, a new holiday forecast offers even more good news. Retailers are poised to rack up their best sales in years this season. Holiday sales between November and January are estimated to grow 5% to 5.6% from last year to more than $1.1 trillion, up from the $1.05 trillion last year, according to Deloitte’s annual holiday retail sales forecast.
So have no fear, the death of retail is NOT near. However, with all of the retail tales of terror, it can be confusing and overwhelming, especially for commercial real estate investors and property owners. Evolution in the commercial real estate industry is creating rapid change. This new landscape is impacting real estate values—presenting both problems and opportunities in the market—and increasing the need for professional real estate guidance for investors and property owners.
That is why Stirling Properties recently formed a new Investment Advisors division that specializes in acquisitions, dispositions, and investment sales of retail assets and other property types.
Stirling Properties’ Investment Advisors division has the depth and breadth of experience to help solve problems and maximize the potential of commercial investment assets. Our team can help to assess the risk and rewards of any asset or investment and guide clients through difficult decisions. Stirling Properties’ Investment Advisors represent a wide range of client types, including private owners, institutional investors, and private equity firms.
October is full of enough frightening experiences, your real estate portfolio doesn’t have to be one of them. If you are unsure how to navigate the complexities of the retail industry or other commercial sectors or are interested in exploring commercial asset opportunities, let our investment advisors help you sort through the cobwebs. Contact one of our experienced agents today.
On behalf of Stirling Properties, we witch you a Happy Halloween!
