Stirling Properties Awarded Management Contract For Fern Marketplace In Shreveport, Louisiana
Stirling Properties commercial real estate company was recently awarded the management contract for Fern Marketplace in Shreveport, Louisiana. Stirling Properties handles leasing opportunities for the center and will now take on daily management.
Fern Marketplace is a 29-acre retail project anchored by Whole Foods Market, consisting of roughly 275,000 square feet. The shopping center is located at the northeast corner of East 70th Street and Fern Avenue, near the intersection of Youree Drive, which is the most heavily populated corridor of retail and services in Shreveport and Northern Louisiana. National retailers located within one mile of this center include Super Target, Belk, Bed Bath & Beyond, Old Navy, JCPenney, Kohl’s, Dick’s Sporting Goods, Barnes & Noble, Lowe’s, Cost Plus, World Market, T.J.Maxx, and Sam’s Club, just to name a few. The area growth rate, high income level and location will be sure to allow the tenants at Fern Marketplace to experience substantial retail sales. Most of the retailers committed to Fern Marketplace are either first-time locations within Shreveport or Louisiana, or both.
Currently, the only business open at the shopping center is GRUB Burger, which opened in January of this year marking its second Louisiana location. Whole Foods Market is scheduled to open in the Fall of 2016. This will be the sixth Louisiana location for the organic food chain store.
Fern Marketplace Phase I consists of roughly 75,000 square feet and tenants include Grub Burger (now open), Lee Nails (opening Spring 2016), Whole Foods Market (opening Fall 2016) and much of the remaining square footage is in different stages of negotiation with announcements to occur over the coming months. Phase II consists of roughly 200,000 square feet of which various type uses will add to the mix of the first phase.
“We are confident in the future and prosperity of this area. Fern Marketplace is positioned in an excellent location that is experiencing tremendous growth and attracting new retailers,” said Donna Taylor, Stirling Properties Senior Vice President-Asset Management & New Business. “We are happy to continue our long and successful brokerage and property management history in the Shreveport/Bossier City market.”
Stirling Properties has been at the forefront of commercial real estate management, investment and development in Shreveport/Bossier City and surrounding areas of North Louisiana, and is committed to bringing quality development and retailers to the area. At completion, Fern Marketplace is expected to be a premier regional shopping and entertainment destination, as well as a vital economic contributor to the area.
Stirling Properties currently manages almost 17 million square feet of property, with 81 million square feet of property and land for sale or lease, almost exclusively in Louisiana. Other Stirling Properties management and development projects in Shreveport/Bossier City include, Stirling Bossier Shopping Center, Eastgate Shopping Center and Old River Marketplace, just to name a few.
For more information, please visit stirlingprop.com.
For leasing or sales information, contact Rhonda Sharkawy at (504) 620-8145 or rsharkawy@stirlingprop.com. For asset management information, contact Donna Taylor at (985) 898-2022 or dtaylor@stirlingprop.com.
Shreveport-Bossier City Retail Market Survey
Stirling Properties is pleased to present the first semi-annual Shreveport-Bossier City Retail Survey. This report, compiled by Stacy Odom and Karen Hannigan, Broker Associates of our Shreveport office, is intended to give the reader a broad understanding of the market as well as specific information about the available square footage, occupancy and rental rates of each retail center greater than twenty thousand (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 Shreveport-Bossier City retail market.
In compiling this mid-year 2015 retail survey, it was noted that vacancy rates on existing inventory are falling, lease rates are increasing and retail investment sales are in high demand. Overall market rates are increasing due to new product and lack of second generation space, as well as many new restaurant and service concepts entering the market to take advantage of co-tenancy opportunities. The majority of retail growth is still occurring in South Shreveport and North Bossier, adding to the market’s most heavily concentrated and demanded retail areas. Phase I of the three new Community Center developments will be predominantly pre-leased before opening. It will be interesting to see if the high demand for retail growth continues and if, as a result, the additional, future phases of these developments will come to fruition.
Please click here to view and download the PDF of the complete Shreveport-Bossier City Retail Survey.
Stirling Properties Officially Announces Sam’s Club is Coming to Stirling Bossier Shopping Center
Stirling Properties, developer and property manager of Stirling Bossier Shopping Center in Bossier City, Louisiana, officially announces the addition of Sam’s Club to its tenant lineup. Construction is underway on the parcel next to Academy Sports + Outdoors fronting Beene Boulevard.
The new Sam’s Club, plus fuel station, will be the first one in Bossier Parish and the 15th in Louisiana. The opening is scheduled for Summer 2014.
“Sam’s Club is a great addition to the Bossier market and Stirling Bossier Shopping Center” stated Donna Taylor, Senior Vice President of Asset Management and New Business Development for Stirling Properties. “With the addition of Sam’s Club, there is only a 3-acre site left to be developed and we anticipate we will have a great deal of tenant interest in this tract for development with the addition of Sam’s.”
Measuring approximately 136,000 square feet, the new club will feature a variety of members-only amenities, including a Fresh Bakery, a Tire and Battery Center, a Café and a Fuel Station. The Sam’s Club Pharmacy, open to both members and the public, features many $4 and $10 generic prescriptions, as well as extraordinary savings on branded prescriptions. Also, the new club will debut a new Hearing Aid Center, offering premium technology in hearing aids and personal listening devices available from a certified audiologist.
“The new Bossier City Sam’s Club will allow us to expand our service in a region of Louisiana we have served since 1986 through our Shreveport Club,” said John Bernheim, the local market manager for Sam’s Club in northern Louisiana. “We are pleased to grow east of the Red River, an area that has seen exceptional growth during the past few years.”Sam’s Club will utilize a variety of environmentally friendly-materials and energy-efficient fixtures in its construction, including daylight-harvesting skylights that reduce the amount of energy required to light the store by up to 75 percent daily. LED lighting throughout the club, including in the cooler and freezer box doors and jewelry counter, operates 70 percent more efficiently than traditional fluorescent lighting.
Also coming to Stirling Bossier Shopping Center is Dickey’s Barbeque Pit, a fast casual, quick-serve, full-service barbeque restaurant that smokes all of their meats onsite. They are scheduled to open late 2013 in the former Quizno’s space on Beene Boulevard. To date, over thirty retail, service and restaurant tenants are already in operation at Stirling Bossier, which officially opened in July 2007.
For more information about the Stirling Bossier Shopping Center contact Donna Taylor, Senior Vice President of Asset Management and New Business for Stirling Properties, at dtaylor@stirlingprop.com or by phone at (985)-246-3758.
Stirling Properties Awarded Property & Construction Management & Office Leasing Contract for Louisiana Boardwalk
Stirling Properties has been awarded a contract to provide comprehensive property and construction management and office leasing services for Louisiana Boardwalk, a 562,250 square foot retail/mixed-use development on the waterfront of Bossier City, Louisiana. Garrison Investment Group of New York recently acquired Louisiana Boardwalk and will relaunch the retail center as The Outlets at Louisiana Boardwalk.
The Louisiana Boardwalk was developed along the Red River, directly across from Shreveport. The twin cities of Shreveport and Bossier City, the state’s third largest market, hosts a bustling convention center, numerous casinos and hotels, which draw over 11 million visitors each year.
Opened in 2005, the project is anchored by the only Bass Pro Shop within a 3 ½-hour drive. A strong mix of outlet retail brands and soft goods retail stores, additional entertainment venues and several restaurants complement the anchors.
The development features approximately 69,000 square feet of 2nd story office space, and a high performing Marriott Courtyard Hotel. The Margaritaville Hotel and Casino will open this summer, adding 400 hotel rooms and a significant additional draw to the project.
For information about office leasing opportunities available, contact Stacy Odom at sodom@stirlingprop.com or Karen Hannigan at khannigan@stirlingprop.com or call 318-797-4393.
For more information about Stirling Properties’ management services, please contact Donna Taylor at 985-246-3758 or via email at dtaylor@stirlingprop.com.
About Garrison Investment Group
Garrison Investment Group is an asset based investor with more than 60 years of experience in shopping center acquisitions, development, leasing and asset management. Headquartered in New York City, Garrison owns a total of 38 shopping centers comprising 8.2 million square feet of leasable space in regional malls, lifestyle centers and neighborhood community shopping centers across 12 states. For more information, please visit www.garrisonretail.com.
East Coast, West Coast…Emergence of the Third Coast
I wanted to share this recently published article, “The Rise of the Third Coast,” by Joel Kotkin, an internationally-recognized researcher and author on global, economic, political and social trends. In the piece, Kotkin describes the “Third Coast,” in large part driven by a “resurgent New Orleans” region, as “one of the major forces in twenty-first-century America.”
One quote in this article that is particularly striking to me is regarding the education system:
In a new report, government efficiency expert David Osborne describes New Orleans’s reforms as a “breakthrough.” The results, he says, are “spectacular: test scores, graduation rates, college-going rates, and public approval have more than doubled in five years.” He adds, “I believe this is the single most important experiment in American education today.”
Eye on the Market Highlights – June 2012
Stirling Properties’ Eye on the Market research alert is emailed monthly to our mailing list and features all the latest news and market reports about the Gulf South. We scan local and regional news outlets, as well as economic development groups, university research centers, and more, so that we can compile all the relevant rankings, news, economic development announcements, reports and more in one convenient place. Some highlights from our June 2012 Eye on the Market include:
Louisiana up 14 spots in 2012 Best States for Business – Chief Executive
Louisiana in Top 10 for State Economic Momentum– NOLA.com
Louisiana earns ‘A’ for small-business friendliness – Kauffman Foundation
Lafayette #1 among “Best Mid-Size Cities for a Job”– Forbes
A Tech Buildup on the Bayou – The Wall Street Journal
New Orleans is Beginning to Attract National Retailers– NOLA.com
‘Tide Has Turned’ for South La. Commercial Market – Business Report
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