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News2024-05-01T13:01:07+00:00

Stirling Properties Names Jared Lauderdale as Vice President Controller

Jared Lauderdale Vice President Controller

Stirling Properties announces that Jared Lauderdale has been promoted to Vice President Controller.

Jared previously held the position of Controller – Property Accounting, responsible for all tax matters in the company’s internally-owned portfolio. While most of his duties will remain the same, his role is also transitioning to being more involved in the business’s property operating and management accounting side.

Over the last few years, Jared has developed and executed new policies and processes to increase coordination and efficiencies throughout Stirling Properties’ accounting department. He has also implemented several new software programs to help the company perform to the best of its abilities. 

Most recently, he has been instrumental in guiding Stirling Properties through the numerous federal tax changes happening across the real estate industry, as well as employee tax credits. Also, during the COVID-19 crisis, Jared was influential in helping the company wade through the confusing and fast-changing guidelines of SBA loans and submitting multiple applications for a much-needed PPP loan.

In addition to his job roles, Jared serves on Stirling Properties’ Leadership Committee, helping to create and maintain company culture and improve internal structure between executive leaders and the team. He also volunteers for the company’s Golf and Stewardship Committees.

“We are incredibly proud of Jared for his remarkable growth and leadership within our company. He has excelled in his role and become an invaluable part of our team over the last few years. No one deserves this recognition more than him,” said Marty Mayer, President & CEO of Stirling Properties.

October 29, 2021|Blog, Corporate|

Stirling Properties Brings Target to Premier Centre in Mandeville, Louisiana

Rack Room Shoes expansion & relocation paves the way for new retail opportunities.

Stirling Properties announces the addition of Target to the tenant lineup at Premier Centre, located on U.S. Highway 190 in Mandeville, Louisiana.

Target will occupy roughly 58,000 square feet of retail space, backfilling the former Stein Mart store, as well as the adjacent space currently housing Rack Room Shoes, and an additional 13,000 square feet of new building expansion area in the rear of the building. Rack Room Shoes will expand and relocate next to Whole Foods Market in the former Forever 21 Red space. Rack Room Shoes is expected to re-open in its expanded space in the fall of 2021.

“Stirling Properties is excited to welcome Target to Premier Centre and the Mandeville community. The explosive growth of St. Tammany Parish and high retail sales make this an attractive two-store market for retailers. Target has been serving the community in Covington for many years, and this new store presents an opportunity to bring the great shopping experience to more customers in our growing market,” said Donna Smith, Executive Vice President with Stirling Properties. “The recent activity at Premier Centre has also been a catalyst for additional exciting retail opportunities that we hope to be able to announce soon.”

Rhonda Sharkawy, Senior Retail Leasing & Development Advisor with Stirling Properties, is the exclusive commercial broker for Premier Centre and worked with Target to secure the new location and the expansion and relocation of Rack Room Shoes.

Premier Centre, anchored by Whole Foods Market, is located at the corner of U.S. Hwy. 190 & N. Causeway Blvd. in Mandeville, Louisiana, on the Northshore of Lake Pontchartrain in St. Tammany Parish. It consists of approximately 273,000 square feet of retail and restaurant options and is currently 97% leased. Stirling Properties developed Premier Centre and currently manages and leases the property.

Tenants include Whole Foods Market, Bed Bath & Beyond, T.J.Maxx, Barnes & Noble, Old Navy, Rack Room Shoes, Gap/Gap Kids, American Eagle Outfitters, Banana Republic, LOFT, Bath & Body Works, Trek Bikes, Earthsavers, Blu Spero, Buckle, J.Jill, Jose Bali Jewelry, Chili’s, La Madeleine and The Big Squeezy. Electric car charging stations are also available in the parking lot near Whole Foods Market.

Stirling Properties has developed more than 24.8 million square feet of property totaling $2.2 billion, almost exclusively in Louisiana. Other Stirling Properties developments in the area include Fremaux Town Center (Slidell), River Chase (Covington), Northpark Corporate Center (Covington) and Hammond Square (Hammond), to name a few.

For leasing information, contact Rhonda Sharkawy at rsharkawy@stirlingprop.com / (504) 620-8145.

President’s Message: No More Kicking the Can

Hurricane Ida Recovery

We’re a little more than two weeks past the landfall of Hurricane Ida and slowly, slowly returning to some sense of normalcy. Yet, many are still struggling to recover. I want to thank everyone who called, texted, emailed and checked in on us over the last couple of weeks. Your outpouring of support and encouragement is very much appreciated. We extend our thoughts and prayers across the country to all those affected by this storm and the devastation it left behind.

Hurricane Ida is tied with Hurricane Laura (2020) as the strongest storm to ever hit Louisiana, with sustained winds over 150 mph, and it was the fifth-largest storm ever to hit the U.S. (in terms of category strength). Needless to say, our region sustained severe impacts from this storm—ironically, 16 years to the day after Hurricane Katrina devastated the Gulf South.

Hurricane Ida was primarily a wind event that downed power poles by epic proportions and destroyed entire electric grids, crippling our people and their recovery efforts. More than one million customers lost power. Over 30,000 power poles were downed—almost double that of Hurricane Katrina—and some electricity, internet and cellular outages will possibly continue through the end of September. To many, destruction to the power grid system, in this case, was equally as destructive as Hurricane Katrina’s floodwaters, which further highlights the weaknesses that persist in our national disaster response efforts.

As always, I am tremendously proud of the responsiveness of our Stirling Properties team. Even amid their own challenges and losses, our team stepped up to take care of each other and our properties. We’ve witnessed this many times over the past year and a half. Our team members pitched in to help those affected by Hurricane Laura in Lake Charles last year, Hurricane Sally that hit Mobile/Pensacola, and now, they have volunteered, raised funds and brought much-needed supplies to our area.

  • We were able to secure fuel tanks and distribution points to provide much-needed gasoline for generators in areas where fuel was impossible to find.
  • We kept in constant contact with our folks in impacted areas and continue to update and monitor individual circumstances. In some cases, we helped line up vendors for mitigation efforts, tree/roof damage, and other needs.
  • In addition, we assisted our healthcare partners at Ochsner New Orleans, to secure toiletries and basic needs items for their frontline staff working through the storm and the ongoing COVID-19 surge.
  • We helped Xavier University line up temporary remote educational space in our conference center at the Pan-American Life Center in New Orleans.
  • Our Mobile/Pensacola team raised and delivered over $10,000 in cash, gift cards and donated supplies to residents of lower Jefferson and Lafourche Parishes, who were hit especially hard during the storm and still do not have power restored.

On the property side, our team was equally responsive in getting on-site quickly and working to mitigate damage to our impacted properties. Some team members were first to respond or even camped out at properties to ensure their safety and continuity. One of our most severely affected properties was Westpark Self Storage in Houma. The facility still has no power and received significant wind and water damage to the building and storage units. Our team has been on-site 24/7, working with customers who have lost their personal belongings. Ironically, another property that received storm damage was one we just acquired the week before, a Pepsi Distribution Center in Livingston, LA, that incurred significant roof damage and water intrusion. Our team worked diligently to install a temporary roof, minimize damage and get the facility back in operation. Many other properties sustained minor damage, but overall, we were very fortunate.

What lessons can we learn from this? What do we take away from this type of widespread destruction? First, our infrastructure failed; and it’s not the first time. The infrastructure across our entire country is highly vulnerable to both natural and man-made disasters, like security threats. A weak infrastructure not only jeopardizes our economy and business continuity but our safety and security as a whole, as evidenced by events all over the country that are happening more and more frequently. Our businesses, financial markets, logistics systems, and even our lives rely on a solid infrastructure system. And when it fails, we all suffer.

In my opinion, it is past time to get serious and make significant investments in our infrastructure. We lag way behind other countries in this area. Our country’s infrastructure needs 20 years ago were much different than today with the advancements of power grids, broadband, water and gas. Therefore, our infrastructure support system and response efforts need also to evolve to remain relevant. In juxtaposition, the COVID-19 pandemic forced the whole country to work remotely, and we were successful in business continuity—but other natural disasters that cripple our infrastructure hinder our progress and set us back even further.

Following Hurricane Katrina, a $14 billion infrastructure investment for flood protection was made in our region, and it worked. Now, power grids and support should be a priority—not just locally but nationally. Unfortunately, upgrades to our infrastructure have been kicked down the road for far too long. I understand the hesitancy in making such large-scale decisions and spending bills; however, the political football of infrastructure investments must end.

I support the bipartisan Infrastructure Investment and Jobs Act (H.R. 3684) cosponsored by Senator Bill Cassidy (Louisiana), making substantial investments in roads, bridges, ports, airports, electric grids, water systems, broadband and coastal resiliency. This $1.2 trillion bill will significantly aid Louisiana and our current recovery efforts and help prepare others across the country for future disasters. The Senate recently passed this infrastructure bill and now goes to the House. While I understand there is another larger proposed infrastructure bill, perhaps our elected officials can meet somewhere between…and quickly. But doing nothing is no longer an option. No more kicking the can; no more political football.

I encourage you all to contact, call or write your Representative in Congress to support this vital legislation that will literally pave the way for a better, brighter future for us all.

Learn more about the Infrastructure Investment and Jobs Act (H.R. 3684).

September 15, 2021|Blog, Louisiana, President's Message|

Stirling Properties Acquires 140,000-Square-Foot Pepsi Distribution Center in Livingston, LA

Marks company’s 1st large-scale industrial acquisition.

Stirling Properties announces the acquisition of a 140,000-square-foot Pepsi Distribution Center located in Livingston, Louisiana. The sale closed on August 19th. This marks Stirling Properties’ first large-scale industrial acquisition. The company will also assume asset management duties of the property immediately.

Built in 2016, the industrial property sits on 15 acres and is strategically located along the I-12 corridor. The facility is fully occupied by PepsiCo., Inc. and serves as a logistics hub for PepsiCo brands, including Gatorade, Dasani, Frito-Lay, Starbucks, Mountain Dew and other related brands for the Greater Baton Rouge Area, Greater New Orleans Area and the Northshore regions of Southeast Louisiana.

Townsend Underhill, President of Development for Stirling Properties, will serve as the Asset Manager for the property. Beezie Landry, Justin Langlois, and Chad Rigby, with Stirling Investment Advisors (SIA), a division of Stirling Properties, handled the sales transaction. Stirling Investment Advisors specialize in investment sales of retail, multifamily, office, healthcare, and industrial properties, across the Gulf South market.

Stirling Properties Welcomes Chip Brown and Jay O’Brien to Its Commercial Brokerage Team in Mobile, AL

Stirling Properties welcomes Chip Brown and Jay O’Brien to its Commercial Brokerage Team. Brown and O’Brien will work out of the company’s Mobile, Alabama, office located at 1 St. Louis Street, Suite 4100. 

Chip BrownChip Brown joins the team as a commercial real estate advisor. He is a REALTOR® and entrepreneur and the former president of his family-owned commercial real estate company, E.H. Brown and Associates, located in Mobile. 

Brown is a veteran of the Alabama Army National Guard and a former Advisor in Afghanistan for NATO and US Forces Afghanistan. A lifelong resident of South Alabama, he serves as a State Representative for South Mobile County and sits on the Urban & Rural Development Committee, Economic Development & Tourism Committee, Insurance Committee, House Rules Committee and Mobile County Legislation Committee. 

He is a former Chairman of the board for the Make A Wish Foundation of Alabama and for several years has volunteered his time serving as a youth baseball, football, soccer and basketball coach. Brown is a graduate of Troy State University, The Defense Department Information School and has a master’s degree from National University. 

Jay O’BrienJay O’Brien, CCIM, serves as a senior advisor, specializing in land brokerage, site selection, tenant representation and property management. With more than 23 years of experience, he has been involved in the development, acquisition and disposition of over 10,000,000 square feet of retail, multifamily and industrial properties throughout Alabama, Mississippi and the Florida Panhandle. He holds the prestigious Certified Commercial Investment Member (CCIM) designation, commercial real estate’s global standard for professional achievement. 

A lifelong resident of Mobile, O’Brien is an entrepreneur, local business owner and the president of his family-owned real estate company, J. L. O’Brien & Associates, Inc., in Mobile. He is a member of the National Association of Realtors, State Board of Realtors and the Mobile Board of Realtors. He is also a former State Board Member and Officer with the Coastal Conservation Association (CCA) of Alabama. O’Brien graduated from Auburn University with a degree in Building Science. 

Chip Brown can be reached at cbrown@stirlingprop.com / (251) 581-5173. Jay O’Brien, CCIMcan be reached at jobrien@stirlingprop.com / (251) 379-1420. 

August 5, 2021|Agents, Alabama, Commercial, news, Press Releases|

Walk-On’s Sports Bistreaux at Hammond Square Opens July 19th

Walk-On's Sports Bistreaux at Hammond Square

Stirling Properties announces Walk-On’s Sports Bistreaux will celebrate the grand opening of its newest location at Hammond Square in Hammond, Louisiana, on July 19th, 2021. An official ribbon-cutting ceremony hosted by the Tangipahoa Chamber of Commerce will be held at 10am.

The highly anticipated restaurant will be located on C.M. Fagan Drive, next to PetSmart and Five Below, in the Hammond Square shopping center. Walk-On’s Sports Bistreaux local franchisee DBMC Restaurants acquired 1.35 acres of property to build and operate the roughly 8,025-square-foot restaurant as part of a redevelopment project on the northeast side of the shopping center. DBMC Restaurants is a veteran restaurant group that currently operates three restaurant brands across six states and is one of the largest franchisees of Walk-On’s.

Rhonda Sharkawy, Stirling Properties’ Senior Retail Leasing & Development Advisor, is the exclusive commercial advisor for Hammond Square and worked with the property owners and restaurant group to secure the new location.

The popular sports-themed restaurant started in Baton Rouge by two former LSU basketball walk-ons has thrived over the years and expanded with more than 100 locations open or in development across 15 states. Currently, there are 19 Walk-On’s restaurants operating in Louisiana.

Hammond Square marks the 3rd location for the Northshore region, with existing restaurants at Stirling Properties’ River Chase development in Covington and Fremaux Town Center in Slidell.

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 852,000-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.

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