Stirling Properties Names Justin Landry Vice President Of Finance
Stirling Properties commercial real estate company is pleased to announce that Justin Landry has been promoted to Vice President of Finance. Landry is a leader in the company’s Baton Rouge office located at 8550 United Plaza Boulevard, Suite 300.
Landry joined Stirling Properties in 2007 and is responsible for evaluating the economic feasibility of new development opportunities for the company. He serves as the lead on all development proforma and financial modeling. In addition, he is lead on debt placement for new developments and refinancing in preparing and soliciting permanent loan packages, and negotiating those loans with lenders. Landry is also asset manager in charge of the company’s entire multi-family portfolio throughout Louisiana.
“Justin is an integral part of our Stirling Properties team, and this promotion is well-deserved,” said Townsend Underhill, Senior Vice President of Development for Stirling Properties. “He has assisted in the placement of more than $1 billion of interim and permanent financing, and has significantly aided with the recent development of Ambassador Town Center. He’s played a key role in major acquisitions such as Turtle Creek Crossing, Retreat at Acadian Point, and Ansley Place, just to name a few. He is certainly worthy of this recognition, and we are proud of his success.”
Landry holds a Bachelor of Science degree in Finance from Louisiana State University. He is an active member of ICSC (International Council of Shopping Centers). He currently sits on the ICSC Scholarship Committee, and is former Committee Chair for ICSC’s Next Generation – Louisiana Chapter. In addition, he serves as an instructor at Louisiana State University teaching Finance 7720 (Commercial Real Estate Investing). Justin Landry can be reached at (225) 922-4340 or
Justin Landry can be reached at (225) 922-4340 or jclandry@stirlingprop.com.
Stirling Properties Welcomes Magnolia Yoga Studio To the New Bienville Basin District
Studio Grand Opening on Friday, September 16th!
Stirling Properties is pleased to welcome Magnolia Yoga Studio to the Bienville Basin District in New Orleans. The long-awaited studio will be located at 301 Basin Street and plans to open its doors on Friday, September 16th!
Stirling Properties Sales and Leasing Executive, Joe Gardner, handled the transaction and worked extensively with the tenant to secure the 2,000-square-foot site, and to select a contractor for the build-out process, which started earlier this year.
The Bienville Basin District is an up-and-coming mixed-use community rising in the footprint of the former Iberville housing development. The Bienville Basin redevelopment began in 2013 and has since gained significant traction. The 23-acre district includes more than 800 mixed-income residential units, restaurants, retail, parks and recreational areas. The full development plan is expected to cover 300 blocks bounded by Rampart Street, Tulane Avenue, Broad Street and St. Bernard Avenue.
New Orleans has recently been credited with attracting young, business-savvy entrepreneurs to the city. Magnolia Yoga Studio Owner & Chief Yoga Officer, Adrianne (Ajax) Jackson, a California native of mixed Mexican- and African-American heritage relocated to New Orleans seeking business opportunities to bring her dream of a yoga studio to fruition. She was particularly drawn to the revitalization and vibrancy of the Basin community.
“Our mission is to support growth, healing, and empowerment through the art of yoga and community,” said Ajax. “We are thrilled to be opening our doors here in the Basin and hope everyone will come out to see what we have to offer. Just remember: You don’t have to be good to get started, but you have to get started to get good!”
Magnolia Yoga Studio is intent on getting more yoga to more people, more often. The goal is to educate the community on the benefits of yoga and to provide accessibility. The studio plans to create collaborations with businesses, hospitals, recovery centers, schools and with incarcerated youth.
“Magnolia Yoga Studio is the quintessential example of the types of diverse business opportunities and establishments that the mixed-use Basin community has to offer. We are proud of what this neighborhood has become, and are especially excited to see young, talented, minority business owners—such as Ajax—finding a home here in our city and helping to become a part of this historic renovation,” Pres Kabacoff, Executive Chairman of the Board, HRI Properties.
The redevelopment of the Bienville Basin District site is a much welcomed addition to downtown New Orleans. This prime real estate, just steps from the French Quarter with both the Canal Street and St. Charles Avenue streetcars running nearby and the Rampart Street expansion underway, provides convenient access to all of the city. It is quickly becoming a sought-after neighborhood to live, work, shop and play.
Stirling Properties has been at the forefront of commercial real estate brokerage, development/redevelopment and management in New Orleans and the entire Gulf South region. With notable accomplishments such as Mid-City Market, Magnolia Marketplace, and the Pan American Life Center first floor redevelopment, Stirling Properties is a key contributor to the revitalization efforts of the City of New Orleans and surrounding communities.
“We are committed to New Orleans and the Gulf South region,” said Gardner. “We are thrilled to be involved in such significant revitalization projects, such as the Bienville Basin District, and look forward to bringing even more retail tenants and businesses to this vibrant market.”
Stirling Properties Brokers Acquisition for The Learning Tree, Inc. in Mobile, Alabama
Stirling Properties is pleased to announce the sale of property to The Learning Tree, Inc. in Mobile, Alabama, that will be used to house office and support staff, as well as allow for future school expansion.
The property is located at 5451 Able Court in Mobile, adjacent to The Learning Tree’s current facility, and was purchased from F&S. The acquisition includes four existing office/warehouse buildings totaling 15,190 square feet. With the new location, office and support staff will now be located next door to the school facility, rather than across town, creating a much more efficient and effective operation. They plan to occupy the space early 2017.
Nathan Handmacher, Stirling Properties Senior Sales & Leasing Executive in Mobile, handled the transaction. “My son attended Woody’s Song School, which is a program of The Learning Tree, so this transaction was rather personal and fulfilling for me,” said Handmacher. “I’m thrilled that we were able to help the school acquire this property that will streamline their operations, so they can continue to focus on the great work they do for the young people in our community.” Handmacher also volunteers for The Learning Tree and serves on the Board of Trustees for the group.
The Learning Tree is a nonprofit organization dedicated to providing educational, residential and support services for children and adolescents with developmental disabilities, including autism. Programs are designed to help children lead more fulfilling and rewarding lives.
Access to educational opportunities and support services for families and children with developmental disabilities is crucial for their success and growth. In addition, educational expansion leads to economic development and increased job opportunities within the community.
The Learning Tree serves more than 600 children and families from across the state of Alabama and the southeast region of the United States. It operates seven programs in the north, central and southern regions of the state including residential and non-residential schools for children ages 5-21, as well as preschool services.
Stirling Properties is proud to serve the commercial real estate needs for Mobile and the surrounding Gulf South region. Stirling Properties manages more than 17 million square feet of property, with close to 100 million square feet of properties and land for sale or lease in the region. We specialize in brokerage services, development & redevelopment opportunities, acquisitions & investments, and property and asset management, over a wide array of property types.
Nathan Handmacher can be reached at nhandmacher@stirlingprop.com or (251) 342-7229.
#StirlingProud
National Association of Realtors (NAR) Names Stirling Properties’ Beth Cristina as Commercial Committee Vice Chair
Stirling Properties’ Senior Broker Associate, Beth Cristina, ALC, has been selected as the 2017 Commercial Committee Vice Chair for the National Association of Realtors (NAR). She will assume the position on January 1st, 2017.
Each year, the incoming NAR president-elect appoints vice chairs to help lead and guide the 1.2 million-member association. Their role is to navigate issues that matter to realtors and home owners, such as economic forces, demographic shifts, and technological innovations that are reshaping the $3.3 trillion residential and commercial real estate industry.
“I am confident and qualified, and bring the right credentials to the job. Having served on NAR commercial committees since 2004, I’m comfortable in the trenches,” said Cristina. “I believe the work of the volunteer leadership team is crucial to the future of our industry. Commercial real estate is consistently changing, and I’m looking forward to leading a committee that will help our members and clients to be successful.”
Ms. Cristina has over thirty-six years of successful experience in commercial real estate sales, leasing, development and investments. Her qualifications include retail and office market analysis, tenant/landlord and purchaser/seller representation, marketing sales, leasing strategies, and consulting services. She has earned numerous awards and recognition throughout her career, including Outstanding Achievement in Commercial Real Estate (2011), Realtor of the Year (2010), and Woman of the Year (2005).
She is affiliated with several business and professional organizations, including Realtor Land Institute (RLI); Louisiana Realtors (LR), where she served as 2015 President; New Orleans Metropolitan Association of Realtors (NOMAR), where she served as 2005 President; and Commercial Investment Division (CID) of NOMAR, where she served as President for 2000 and 2008.
The National Association of Realtors is America’s largest trade association, representing over 1.2 million members, including NAR’s institutes, societies, and councils, involved in all aspects of the residential and commercial real estate industries. Membership is composed of residential and commercial realtors who are brokers, salespeople, property managers, appraisers, counselors, and others engaged in the real estate industry.
Beth Cristina can be reached at (504) 620-8127 or bcristina@stirlingprop.com.
Stirling Properties Names Bradley Cook as Sales and Leasing Executive
Stirling Properties commercial real estate company is pleased to announce Bradley Cook as Sales and Leasing Executive for its Commercial Brokerage Division. He will work from the company’s Covington office located at 109 Northpark Boulevard, Suite 300.
Bradley Cook joined Stirling Properties in 2016 as a Sales and Leasing Executive in the Commercial Brokerage Division. He has extensive experience in the commercial real estate industry, with a focus on industrial and investment properties, urban core redevelopment, as well as land development.
Previously, Bradley worked as an Associate Advisor for AREA Real Estate Advisors where he garnered knowledge and skills in sales, acquisitions, development, tenant and landlord representation, and buyer and seller representation. In this role, he created urban core redevelopment opportunities, and led the charge to promote an 8-million-square-foot ground-up industrial development in Parkville, Missouri.
Prior to his commercial real estate career, he was the Fitness Director for Franco’s Athletic Club, the Program Development Director for Spectrum Health and Fitness, as well as Cardiology Account Executive for GE Healthcare, covering more than 200 accounts across the Southeast. Cook was pivotal in the growth and expansion of Franco’s Athletic Club through their locations on Magazine St. and the new CrossFit Franco’s, which holds Louisiana’s first Reebok CrossFit retail location.
Born in New Orleans and a resident of the Northshore, Bradley earned his Bachelor’s degree and Master of Science degree from Louisiana Tech University. He holds multiple health and fitness certificates in the Exercise Sciences, as well as a lay counselor certificate that enables him to work with men and women in the areas of self-identity and relationships. He is a strong local advocate for the special needs community on the Northshore having started the iCAN Fitness Program at Franco’s Athletic Club and serving on the Board for The Zac Slay Experience.
Cook holds a commercial real estate license in Missouri, Kansas and Louisiana and is a CCIM Candidate.
Bradley Cook can be reached at (225) 505-6009 or bcook@stirlingprop.com.
Amazon Leads the Way in E-fairness!
Alabama becomes 29th state to collect sales taxes from online giant
For decades, brick-and-mortar stores have been fighting for a level playing field with their on-line rivals who are not required to charge sales tax. To enact a little e-fairness, the state of Alabama passed the Alabama Simplified Use Tax Remittance Program, which allows online retailers that do not have operations within the state to collect, report and distribute an 8% sales tax. The on-line tax rate is still lower than its brick-and-mortar rivals who are generally closer to 10%. Since the program’s inception in October 2015, the state has received nearly $3 million in its general fund from 52 on-line retailers.
It was recently announced that Amazon, the largest e-commerce company in the world, has enrolled in Alabama’s state program and will begin distributing funds to the Alabama Department of Revenue monthly. Beginning on November 1st, Alabama will become the 29th state to collect sales taxes from Amazon.
Alabama’s Commissioner of Revenue, Julie Magee, is confident more on-line companies will sign up and expects to see a $40 to $50 million influx of tax funds by 2017 with “substantial” increases by 2018 and beyond. She further noted that 75% of the revenue goes to the state’s general fund, with the remaining balance to be split between cities and counties across the state.
As Alabama’s Government Relations Chair for the International Council of Shopping Centers (ICSC), I am thrilled to hear that Amazon will be participating in Alabama’s tax remittance program and like Ms. Magee, I too believe other on-line retailers will follow their lead. According to recent studies, it is estimated that Alabama is losing upwards of $500 million per year in uncollected sales tax from remote sales.
The shopping center industry is essential to state and local economic development – as a significant job creator, driver of GDP and critical revenue source for the communities they serve through the collection of sales taxes and the payment of property taxes.
In Alabama there are nearly 113.5 million square feet of shopping center space across 1,718 properties that directly employs over 200,000 people or 9.5% of the total state employment. These centers account for close to $32 billion in annual sales and add approximately $1.3 billion in state sales tax revenue.
An annual sales tax revenue of $1.3 billion for brick-and-mortar retail versus $40 to $50 million for on-line retail tells me we have a ways to go to level the playing field, but this is a great start. I commend Amazon for leading the effort!
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