Change in Management and Leasing of Perkins Rowe In Baton Rouge, Louisiana
Stirling Properties announces that Texas-based Trademark Property has purchased a minority ownership interest in Perkins Rowe mixed-use retail center in Baton Rouge, Louisiana, and will be taking on daily management and leasing of the property effective August 1, 2016.
Trademark will be joining Crawfish LLC in the ownership of the high-profile property. Trademark is a full-service real estate firm focused on investments, development and institutional services of experiential, mixed-use and daily needs properties, and will be bringing services of Perkins Rowe in-house.
Stirling Properties currently holds the contract for leasing, sales, and property and construction management services at the center and will be transitioning daily responsibilities to Trademark.
Stirling Properties has managed Perkins Rowe since 2013 and is credited with bringing the property to its full potential. Plagued by a challenging history of financial, legal and construction challenges, Perkins Rowe today is a one-of-a-kind community, shopping and residential center. Stirling Properties successfully increased retail occupancy to nearly 90% and office occupancy remains high at nearly 100%. Property apartments and condominiums are complete and in commerce, and all litigation issues have been resolved. Perkins Rowe is now a leading destination in the metro Baton Rouge area. No other property offers the convenience of living, shopping, eating, and entertainment, without ever getting in your car.
“Our goal was to turn the property around and achieve a positive return on investment for the ownership group. We are extremely excited about where Perkins Rowe is today, and believe this is a great place to turn over management,” said Donna Taylor, Senior VP of Asset Management & New Business Development with Stirling Properties. “We’ve committed a tremendous amount of time and resources to this project—along with the ownership’s financial commitment—to ensure that Perkins Rowe would shine as the premier up-scale mixed-use project it was originally envisioned to be.”
Perkins Rowe is a roughly 710,000-square-foot premier mixed-use retail, office and residential development located at the corner of Perkins Road and Bluebonnet Boulevard in Baton Rouge, Louisiana. Opened in 2007, Perkins Rowe is a strong mix of retail brands and soft goods retail stores, entertainment venues and restaurants.
President’s Message: Do Something.
Lately, there are days when it is extremely challenging for me not to get discouraged and disgusted by the barrage of tragic news continuously pouring in from around the world, our country, and most recently, our great state of Louisiana. Increasing violence, deafening angry voices, and escalating hatred are sadly becoming the new normal and all too frequent.
But then, there are days when I am reminded about the virtuous things. Days when my faith in humanity is restored and I remember what is truly important.
One of those days came last Friday at our annual Stirling Olympics, a company-wide fundraiser for local nonprofit organizations. Our incredible Stirling Team joined together to enjoy some friendly competition and good-natured rivalry. We competed in ridiculous games, crazy lip-syncing contests and clumsy relay races. But the most amazing moment was witnessing the genuine pride in our team when the funds were presented to the recipients.
This year, we set a lofty goal of raising $45,000 through Stirling Olympics and I am pleased to say that we surpassed that goal, reaching $57,000! Funds raised from the event benefited The ALD Foundation, which strives to raise awareness and supports the research of Adrenoleukodystroply, a genetically determined neurological disorder that affects young boys between the ages of four and ten, as well as the Miracle League of Greater New Orleans, which works with mentally and physically handicapped children so they can participate in everyday sports. What a perfect day!
For those of you that know me, I have an extensive collection of quotations from famous authors, celebrities and business leaders that inspire and motivate me in one way or another.
There is one on my office wall right now by basketball coaching legend, John Wooden, that is particularly meaningful to me and relevant today:
“You can’t live a perfect day without doing something for someone who will never be able to repay you.”
Yes, we can have good days when we celebrate our business successes and growth, or even personal accomplishments and material possessions. But in order to achieve living a perfect day, it must include a selfless act for the benefit of someone else.
What if we all devoted a little more time doing something to help someone else, rather than creating divisiveness, turmoil and tearing each other down? Could we accomplish more perfect days?
I am very proud of our Stirling Team for their hard work and generosity last week. They were equally proud to have made a difference in someone else’s life—especially those children from the Miracle League and the families from The ALD Foundation that joined us.
I know that we can’t change the world or solve all of life’s problems, but we can do our part, no matter how large or small. A kind gesture as simple as a smile can bring hope in those days of discouragement and disgust.
So my message today is to please go out and do something. Go out and do something—anything—kind for someone who will never be able to repay you. And let’s just see what happens.
#StirlingProud!
Stirling Properties Announces Lease For The SteaKhouse in Hammond, Louisiana
Stirling Properties commercial real estate company is pleased to announce the lease of 4,035 square feet of restaurant space to The SteaKhouse in Hammond, Louisiana.
The SteaKhouse will be moving from its current space on East Thomas Street, to a newly constructed building located at 200 Southwest Railroad Avenue, at the corner of SWRR Avenue and West Morris. Stirling Properties Senior Investment Sales Advisor, Beezie Landry, handled the transaction. The new restaurant location, a development referred to as Square 71, is owned by Bruce O’Krepki and is currently under construction.
The SteaKhouse owners Blake and Megan Kinchen said that they plan to open in the newly expanded space this fall. “We are so happy to be moving into this new beautiful building that will offer more room to accommodate our guests. Our business is growing tremendously and we truly thank the community for your continued support and patronage. We hope you will come visit us in our new place this fall!” said Megan Kinchen.
“Stirling Properties is thrilled to be able to work with The SteaKhouse to find the perfect location for their growing business,” said Landry. “We are confident in the success of this area, and we look forward to serving the growing commercial real estate needs of Hammond and surrounding areas for many years to come!”
Stirling Properties has been at the forefront of commercial real estate brokerage, management and development in Hammond and surrounding areas of South Louisiana. Stirling Properties has developed more than 3.7 million square feet totaling $465 million since 2010, with close to 100 million square feet of property and land for sale or lease, almost exclusively in Louisiana. Other Stirling Properties management and development projects in Hammond include Hammond Square, Seville Plaza, and Palace Centre East, just to name a few.
For more information, please visit stirlingproperties.com.
For leasing information, contact Beezie Landry at blandry@stirlingprop.com or (985) 246-3781.
Stirling Properties and Dorsey Development Announce New Tenants At Gentilly Retail Center In New Orleans
Stirling Properties and Dorsey Development announce new retail and restaurant tenants at the newly developed Gentilly Retail Center in New Orleans, Louisiana.
- Dollar Tree, a popular discount retail chain that sells items for $1 or less, will occupy 10,000 square feet.
- rue21 specialty discount retailer of young men and women’s casual apparel and accessories will occupy 6,917 square feet.
- Footaction national athletic footwear and apparel retailer will occupy 4,847 square feet.
- Kids Footlocker, offering kids shoes and clothing, will occupy 3,500 square feet.
- LA Nails and Hair Spa will occupy 2,368 square feet.
- WingStop, aviation-themed restaurant with a focus on chicken wings, will occupy 1,800 square feet.
All of the listed tenants are expected to open in early September of 2016.
Gentilly Retail Center is a newly developed retail strip center located at 4242 Chef Menteur Highway in the Gentilly neighborhood of New Orleans East, near Walgreens and the recently opened Walmart Supercenter. The surrounding commercial corridor is supported by one of the oldest suburban residential areas in Orleans Parish, Gentilly Woods, as well as Pontchartrain Park and the Baptist Seminary. The development project is currently underway and is expected to be completed by early September of 2016.
“We are eagerly anticipating the completion of Gentilly Retail Center. With such a great mix of tenants, we expect it to be a prominent shopping destination, as well as vital economic contributor to the area’” said Paul Dorsey, III, owner of Dorsey Development.
Dorsey Development is the property owner and developer. Dorsey Development is an integrated (development & construction) commercial real estate company located in New Orleans doing business in the Gulf South—having developed over 1.2 million square feet of retail for national retailers such as: Dollar General, Langenstein’s, Planet Fitness, Whitney Bank, Sav-A-Lot, Stage, Cato Corporation, Shoe Show, Napa Auto Parts, Citi Trends, Subway, Pizza Hut and others.
Dorsey purchased the property in 2015 from Lanasa Center Inc., represented by broker Jennifer Lanasa Evans of JLE & Associates.
Stirling Properties Sales and Leasing Executive, Joe Gardner, worked with Dorsey Development to bring the tenancy together, and the shopping center to life.
“Stirling Properties is proud to work with Dorsey Development in bringing quality restaurant and retail tenants to Gentilly Retail Center, and this growing marketplace. It’s been exciting to watch it all come together,” said Gardner. “We look forward to perpetuating and providing greater shopping and dining options for the area in the future.”
Stirling Properties has been at the forefront of commercial real estate management, investment and development in the greater New Orleans area and surrounding Southeast Louisiana region. Stirling Properties currently has more than 99 million square feet of property and land for sale or lease. Other Stirling Properties management and development projects in New Orleans include, Mid-City Market, Magnolia Marketplace, River Commons and Pan American Life Center, just to name a few.
For leasing information, contact Joe Gardner at jgardner@stirlingprop.com or (504) 620-8140.
Stirling Properties and CBL Announce New Tenants and Updates to Phase II of Fremaux Town Center in Slidell, Louisiana
Stirling Properties and CBL & Associates Properties, Inc. are pleased to announce new tenants and updates to Phase II of Fremaux Town Center in Slidell, Louisiana.
Albasha Greek & Lebanese Restaurant will occupy 3,745 square feet and is expected to open in September of 2016.
A new building suite is being constructed on the southeast side near Town Center Parkway, adjacent to Red Robin that will house three additional tenants. Smoothie King will occupy 1,000 square feet, including a drive-thru, Pacific Dental Services will occupy 3,005 square feet, and Chipotle Mexican Grill will occupy 2,225 square feet. All three tenants are expected to open in the first quarter of 2017.
A local Developer has purchased a 1.87-acre tract south of the shopping center and canal on Bill Garrett Road (I-10 Service Road) for the development of a 53,931-square-foot Springhill Suites by Marriott hotel, and will begin construction in the coming months. A new road, called Ruth Garrett Way, and additional utility infrastructure will be constructed to access the site. Ruth Garrett Way will connect Town Center Parkway and Bill Garrett Road, with anticipated completion by the first quarter of 2017.
Previously announced Allure Nail Spa opened late-May. Goodyear and Chico’s are still on track to open in the third quarter of this year.
Construction is complete on Springs at Fremaux Town Center, a 296-unit apartment complex, with residency available. Additional phases are coming soon, including other retail, an office park and Fremaux Park.
Fremaux Town Center, anchored by Dillard’s, Dick’s Sporting Goods, Kohl’s and Best Buy, is a roughly 635,000-square-foot regional mixed-use retail development, located on more than 80 acres at the southwest corner of Interstate 10 and Fremaux Avenue in Slidell, Louisiana. More than 60 retailers and restaurants occupy the center. Tenants currently open and operating include Bellagio Nail Spa, Best Buy, BJ’s Restaurant, Books-A-Million, Carter’s, Cheddar’s, Dick’s Sporting Goods, dressbarn, Felipe’s Mexican Taqueria, Five Guys Burgers & Fries, GNC, Great American Cookie Company, Kirkland’s, Kohl’s, LA Fitness, Lane Bryant, Massage Envy, Mattress Direct, Michaels, Panera Bread, Payless Shoes, PetSmart, Longhorn Steakhouse, Rack Room Shoes, rue21, Sports Clips, Starbucks, T.J.Maxx, Ulta Beauty, Verizon Wireless, Versona. 5 Below, Aveda, Bath & Body Works, Buckle, Capital One, Charlotte Russe, Claire’s, Dillard’s, Francesca’s, Forever 21 Red, Journeys, LensCrafters, LOFT, Luxe 83, Off Broadway Shoe Warehouse, Pier 1 Imports, Red Robin, Tesla (charging stations), Torrid, Victoria’s Secret, Which Wich and Zales.
Fremaux Town Center is currently 95% leased, and jointly owned by affiliates of CBL & Associates Properties, Inc. and Stirling Properties, LLC. Stirling and CBL manage and lease the property.
For leasing information, contact Ryan Pécot at 337.572.0246 / rpecot@stirlingprop.com or Tim Gilmore at 423.490.8358 / Tim.Gilmore@cblproperties.com. For more information regarding our services, please visit us at stirlingproperties.com. For information on Fremaux Town Center, visit fremauxtowncenter.com.
President’s View
Sadly, we woke up yesterday to the news of yet another tragic and heartbreaking event—something that is all too common these days.
This morning, I received Stephen Waguespack’s (President of LABI), View: The Quest for Common Ground. In it, I feel he encapsulated very clearly so many insightful thoughts. Seeking common ground these days is more important than ever, but unfortunately it seems so difficult and rare.
We are too quick to judge and too unwilling to listen.
In his article, Stephen quotes Winston Churchill:
“Courage is what it takes to stand up and speak;
Courage is also what it takes to sit down and listen.”
Perhaps, we all should try to understand when to speak and when to listen.
“I do not like that man. I need to get to know him better.”
Abraham Lincoln is credited with this quote that simply reinforces something we were all taught as a kid but too often forget as an adult – the value in looking beyond our differences and instead striving to find common ground where possible. His advice is especially relevant today considering the national effort to recover and learn from recent events related to crime prevention and justice in American cities, including our own capital, Baton Rouge.
Understanding the perspective of others is easier said than done. Everywhere we turn, we are constantly reminded about the differences between us rather than the opportunities for cooperation and alignment.
Click here to read Stephen Waguespack’s President’s View: The Quest for Common Ground.
