Stirling Properties Mixes Philanthropy & Fun
Inaugural Stirling Fest raises $60,000 for local nonprofits!
Aloha. Stirling Properties celebrated our inaugural Stirling Fest last Friday, a day of Hawaiian-style fun and philanthropy to raise money for charitable causes throughout the Gulf South region. The event, hosted by the Stirling Stewardship Committee, was a HUGE SUCCESS, raising over $60,000 for local nonprofit organizations!
Representing our motto of #BeTheChange: Helping others is a work of heart, every year, Stirling Properties selects charitable organizations to become the recipients of our annual company-wide fundraising efforts. Nonprofit groups are nominated and then voted on by Team Stirling members. This year, we are proud to have expanded our recipients to four worthy organizations—Special Olympics Louisiana, Camp N.O.R.A., Safe Harbor Northshore and Ronald McDonald House Charities Mobile! Representatives from each organization were in attendance to celebrate with us and receive a check for $15,000.
Celebrating our 7th year, the fundraising event was changed from an Olympics-style to more of a festival with music, games and tons of great prizes. Held at Digs Volleyball Complex in Covington, the Luau-themed day featured delicious food and beverages along with live music by in-house band Craig Marks the Spot and DJ El Camino (aka Michael Hecht of GNO, Inc.). Games and activities were held throughout the day including Beach Volleyball, Simon Says, Hula Hooping and Checkers.
The main event was a 4-team Cajun Huki Pull relay representing each of the designated nonprofits. Congratulations to Team Special Olympics, they took home the trophy for Beach Volleyball and the Huki Pull!
Mahalo. A special thanks to all of our sponsors, supporters, and Team Stirling for your generosity. Major sponsors include BXS Insurance, Berkadia Commercial Mortgage, Brasfield & Gorrie, Fishman Haygood LLP, IBERIABANK, Richard Price Contracting Co., BH Management, Hancock Whitney Bank, Capital One, Duplantis Design Group PC, Rotolo Consultants, Walker & Dunlop, Wells Fargo, Louisiana Landscape, Ogden Painting, Zito∙Russell Architects PC, Acadia Land Surveyor, Baker Donelson, Kent Design, Regal Construction, Robert Refrigeration, Stratum Engineering LLC, Armstrong Property Services, Associated Building Services LLC, Bellingrath Wealth Management, Champion Security, Cleco, Construction South Inc., Donahue Favret, E. Cornell Malone Corp., Eustis Mortgage, First Bank & Trust, First Guaranty, Gallo Mechanical, Greenleaf Lawson Architects, Jimmy Maurin, Jones Walker, Jones Swanson Huddell & Garrison LLC, Lemoine Company, Malone Roofing Services LLC, Metro Mechanical Inc., Newmark Grubb Knight Frank, PGIM Real Estate Finance, Pinnacle Elevators, Precision Metal Inc., Precision Waste Solutions LLC, Real Estate Tax Group, Resource Management LLC, Roger Ogden, SCS Electric Inc., Sun Interiors, Trimark Constructors LLC, VergesRome Architects, Vinson Guard Service Inc., WLS Lighting Solutions and Fidelity Bank.
And a big shout-out to the Stirling Stewardship Committee and the Stirling Fest Committee for all their hard work organizing the event and making it happen!
A hui hou (until we meet again)! #StirlingProud
Thank you to Big Easy Parking Lot Maintenance, Cosmich Simmons & Brown PLLC, Gulf South Electric, River Parish Disposal, Chris’ Paving, Coastal Environmental Services, Connelly Construction Group, Cost Segregation Services, Covington Electric Services Inc., Geiger Heating & Air, ITS Fire Alarm Security LLC, Jefferson Sprinkler, Larry Loyd Construction Co., Moran Construction Consultants LLC, Mullin Landscape Associates, PMAT Real Estate Investments, Premier Service Team LLC, Premium Parking, Professional Maintenance Services, Southeastern Waterproofing, Southern Farm Bureau Life Insurance Company, Upchurch Services, CMC, Moradel Cleaning Services Inc., Angelos Landscaping, B&G Lawn Maintenance LLC, Cook Moore & Associates, Dale’s Paving Inc., NcNeer Electrical Contracting Inc., Unit Design Inc., CertaPro Painters of Lafayette, Delta Flooring, Dixie Office Products, Floor Trader, Huseman & Associates LLC, Mele Printing, Pat Brister, ACA Mechanical/Industrial LLC, Susan Bonnett, T.L. Construction LLC, Grass Unlimited, Acadiana Lighting & Signs, CJ Ladner Insurance Agency Inc., Multitech Office Machines and Sign Lite.
What’s Going On at River Chase in Covington?
Stirling Properties Announces Exciting New Updates and Developments
The first phase of the Offices at River Chase, the Northshore’s premier office campus, has completed construction. Located at the southwest corner of Brewster Road and Stirling Boulevard, Phase I includes a Class-A, two-story, 45,000-square-foot office building located on 3.5 acres. It is accessible from both the LA-21 and Brewster Road interchanges on Interstate 12, and within walking distance to a host of amenities, including restaurants, a movie theater, and residential living options. The highly-renowned architectural firm, Wakefield, Beasley, and Associates, designed the base building, and Mandeville-based Greenleaf Lawson Architects served as the interior architect for the project. Tenant build-outs are now underway, and Duplantis Design Group, PC, will move into their new, 6,000-square-foot office space in mid-May. For more information on the Offices at River Chase and leasing opportunities, contact Ryan Murphy at rmurphy@stirlingprop.com or (985) 246-3771. 
Located across the street from the office building, Walk-On’s Bistreaux & Bar commenced construction on its new restaurant last November. Set on 1.82 acres on the northwest corner of Stirling Boulevard and Brewster Road next to Sam’s Club, this marks the 1st Northshore location for the highly-anticipated sports restaurant and bar. It will occupy roughly 9,600 square feet and is expected to open late this summer, just in time for football season. The Covington location will include a rooftop bar, The Upper Deck, an element unique to the design by Greenleaf Lawson Architects. The Upper Deck will feature group seating and additional space for catching a game. 
Rooms-To-Go has opened its new 36,000-square-foot retail showroom located next to Zoe’s Kitchen on Stirling Boulevard. The impressive store is highly visible to Interstate 12 traffic. A Grand Opening celebration was held on Saturday, April 22nd. The furniture retailer relocated from its previous site on Highway 190 in Covington.
Construction on Springs at River Chase is complete, and all buildings are open. This project is a joint venture with Continental Properties. The new 296-unit luxury apartment community is located at the southwest corner of Interstate 12 and Brewster Road. The property features floor plans ranging from studio to three-bedroom apartments. Community amenities include a clubhouse, resort-style pool, 24-hour fitness center, dog park, attached and detached garages, car care center, and a pet spa. Occupancy remains high for the multi-family community. For more information and leasing on Springs at River Chase, contact Jan Rayburn with Continental Properties at (985) 327-1350.
Construction is underway for the newest addition to River Chase, the development of the Preserve at River Chase, a single-family luxury residential community, adjacent to the Springs at River Chase apartments. The Preserve development is a joint venture with Southern Lifestyle Development, which is renowned for its highly-acclaimed River Ranch residential community in Lafayette, Louisiana, amongst many other communities. Phase I of the Preserve will include the completion of 76 detached town and country homes. Infrastructure work has commenced and is expected to be complete in November, at which point the residential lots will be available for sale. Construction on the homes is expected to begin early 2018. 
River Chase is the Northshore’s premier master-planned development located amidst 253 acres on the southeast corner of Interstate 12 and LA Highway 21 in Covington, Louisiana. The mixed-use center includes approximately 945,000 square feet of retail and restaurant options, as well as a Holiday Inn Express, Regal Cinema, luxury residential apartment units, and a Class-A office building. Additional residential and office developments are coming soon. Stirling Properties developed River Chase and currently manages and leases the property. River Chase is a Louisiana Economic Development (LED) Certified Site. For more information, please visit www.stirlingprop.com. For retail leasing and sales, contact Rhonda Sharkawy at (504) 620-8145 or rsharkawy@stirlingprop.com. For office leasing and sales, contact Ryan Murphy at (985) 246-3771 or rmurphy@stirlingprop.com.
“TREEmendous” Organizations In Our Region
This past weekend, we celebrated Earth Day, an annual day dedicated to encouraging conversation and engagement around environmental sustainability.
Stirling Properties is a proud supporter of numerous environmental programs right here in the Gulf South region. Their work is critical to our success and makes our communities—where we live and work—stronger. In addition to corporate support, many of Stirling Properties’ employees and agents give their time and resources to charitable organizations that improve our environment.
So even though Earth Day has come and gone, we would like to spotlight a few organizations that make our region a little greener every day.
SOUL Nola (Sustaining Our Urban Landscape)
SOUL, a project of The Trust For Conservation Innovation, is dedicated to driving a resilient and equitable New Orleans through improving its water systems.
According to SOUL, New Orleans is the most deforested city in the United States. The group believes that a healthy and substantial urban forest is critical to New Orleans’ ability to live harmoniously with stormwater. Like gray infrastructure, such as canals and roads, the urban forest and other forms of green infrastructure must be built at a meaningful scale and properly integrated into the city. SOUL is dedicated to strategically reforesting New Orleans, one neighborhood at a time. This year, volunteers have planted 190 large native trees in the Mid-City and Algiers Point/Old Algiers neighborhoods of New Orleans, and are in a planning phase for additional areas.
Nola Tree Project
The mission of Nola Tree Project is to grow stronger, healthier communities through tree planting, community service, and disaster relief programs. Through initiatives such as Greaux Healthy Kids & Community Orchards, Urban Forestry Program, and Big TREEsy Giveaways, Nola Tree Project aims to improve the quality of life for our neighbors and communities. With the help of numerous volunteers, the organization has planted nearly 40,000 trees throughout the greater New Orleans area.
Friends of Lafitte Greenway
The Lafitte Greenway is a 2.6-mile bicycle and pedestrian trail and green corridor that connects neighborhoods from Armstrong Park to City Park in New Orleans, significantly transforming one of the most historic areas of New Orleans into a multi-use transportation corridor and linear park.
The Greenway includes a 12-foot asphalt path for cyclists and pedestrians, new recreation fields, green space, and landscaping improvements including approximately 500 shade trees, native plant meadows, bioswales and stormwater retention features. The path is fully lit with LED energy-efficient trail lighting and includes curb extensions, signalized high visibility crosswalks, ADA-compliant curb ramps at sidewalk corners, environmental remediation, a crushed stone walking path, and a bicycle and pedestrian roundabout. Friends of Lafitte Greenway plans to launch several new initiatives and projects throughout the Greenway that will include art installations, healthy living events, guided tours, community gardens, and much more. The organization and its members are working diligently to build, program, and promote the linear park as a great public space.
We salute these “TREEmendous” organizations for their contributions to our region. And we look forward to supporting and “growing” with them for many years to come.
#StirlingProud
Marty
Stirling Properties Commercial Agents Among Top Producers At 2017 NOMAR CID Awards Ceremony
Carly Plotkin, Joe Gardner, Beezie Landry, Lauren Ryan
Stirling Properties commercial real estate agents were honored during the New Orleans Metropolitan Association of Realtors (NOMAR) Commercial Investment Division (CID) 24th Annual Achievement Awards ceremony.
Beezie Landry, Stirling Properties’ Senior Investment Sales Advisor, received the award for Top Overall Retail Production. Sales and Leasing Executive, Joe Gardner, CCIM, was awarded for Largest Land Sale & Largest Landlord Lease. Carly Plotkin, Sales and Leasing Executive, received the Rising Star Award.
Rhonda Sharkawy, Senior Retail Leasing and Development Executive, was acknowledged for her induction last year into the CID Hall of Fame after having received the prestigious F. Poche Waguespack Award for the highest volume of sales and leases in the greater New Orleans area for five consecutive years. She is one of only a handful of women to receive this esteemed award since its inception in 1964.
Lauren Ryan, Sales and Leasing Executive, was a first-time recipient of the Production Award, given for agents obtaining total commercial credit sales and leasing of more than $2.5 million. Landry, Gardner, and Sharkawy were also among Production Award recipients.
The goal of the Commercial Investment Division (CID) Awards is to review and recognize individual achievement among commercial real estate practitioners who are members in good standing of the New Orleans Metropolitan Association (NOMAR) of REALTORS®.
Louisiana State University Takes 3rd Place (Again!) In Global ARGUS University Challenge
Continues to propel national spotlight on growing educational real estate programs at LSU
Stirling Properties commercial real estate company is pleased to announce students from Louisiana State University (LSU) E.J. Ourso College of Business were awarded 3rd place in the global 2017 ARGUS Software University Challenge.
Since 2011, ARGUS Software has hosted the competitive challenge for university students from around the world aspiring to be commercial real estate professionals. Through this challenge, students create real-world investment strategies through informed decisions using ARGUS Software solutions. The theme of the case this year was Pokémon GO! A panel of judges from the academic community and real estate industry participated in reviewing the case studies and nominating the winners.
More than 30 top real estate programs from universities worldwide participated in the competition. The University of San Diego won 1st place, Cornell University placed 2nd, LSU took 3rd, and UCLA earned an honorable mention.
The team from LSU—Garrett Choate, Whitney Gaulter, Matt Hingle, Tyler Tamboli, Sophie Weber, Jason Wyman, and Cassius Dsouza—was coached by Stirling Properties Vice President of Finance, Justin Landry. Landry serves as an adjunct professor teaching Finance 7720 (Commercial Real Estate Investing). This is the 6th year he has taught the course and the 6th year an LSU team has competed in the ARGUS Challenge. It also marks the 2nd time placing under Landry’s leadership.
“This is the second consecutive year that we have secured a 3rd place finish in this competition, so it is no longer beginners luck! This win will certainly garner larger attention around the nation for LSU real estate programs and for students who seek a career in the industry. I am very proud of this team for their accomplishments—they have really worked hard,” said Landry.
LSU’s team secured $3,000 for the university through ARGUS Software. In addition, the students were bestowed the 2017 ICSC (International Council of Shopping Centers) Maurin-Ogden Foundation LSU Scholarship Award, funded by Jimmy Maurin and Roger Ogden, founders of Stirling Properties. Through the scholarship, students will receive all-expense-paid attendance to the ICSC RECon in Las Vegas, the world’s largest retail real estate convention. Each year Stirling Properties hosts LSU Award Recipients at the conference, offering the students valuable exposure to industry leaders and potential employers.
“We truly thank Stirling Properties’ founders, Jimmy Maurin and Roger Ogden for their generosity and unwavering commitment to LSU, real estate, and education. This is an invaluable opportunity for these students to meet and network with industry leaders. Many of our students in the past have garnered great job prospects through this experience,” said Landry.
For more information about Finance 7720 (Commercial Real Estate Investing) and its objectives, contact Justin Landry at jclandry@stirlingprop.com.
Stirling Properties is located at 109 Northpark Blvd., Suite 300 in Covington, Louisiana. For more information regarding our services, please visit us at www.stirlingproperties.com.
President’s Message: The Death Knell of Retail Real Estate Is Exaggerated
I am sure you have all read attention-grabbing news headlines such as these and share the same concerns regarding the future of retail real estate. In this new era of constant access to millions of digital media streams, dramatic headlines cut through the clutter and generate more attention. Drama sells. But despite all the negativity circulating, I am confident that the retail landscape is solid, and the death knell of brick-and-mortar stores is heavily exaggerated.
While there is no question that technology has disrupted the retail business via e-commerce, mobile devices, virtual shopping, etc., physical stores continue to dominate retail sales. Research shows that 78% of consumers prefer to shop in store and spend significantly more per month in a physical store than online. E-commerce, multiple fulfillment options, omnichannel retailing, and other technological advances are improving the brick-and-mortar shopping experience and boosting sales at physical stores.
Even though e-commerce sales are growing significantly (approximately 15% annually), the in-store vs. online struggle is not quite the battle that it is portrayed to be. E-commerce sales—combined with mail-order sales—account for less than 10% of total retail sales. Furthermore, it is estimated that over half of online sales actually go to brick-and-mortar retailers. Consumers are still buying from stores, but now they have more choices to compare prices, make transactions, and receive their goods. Major retailers such as Anthropologie and Nordstrom are effectively leveraging e-commerce sales to grow their business. Anthropologie notes that 36% of its total revenue is earned online and Nordstrom reports 22%. Successful retailers are learning to integrate online sales and omnichannel retailing.
However, in every industry, there will always be winners and losers. Companies must adapt to an evolving business climate. That includes retailers. Competition and shifting customer habits are hurting more merchants than the internet, and innovative new retail concepts are coming to market daily. Unfortunately, corporations like Blockbuster, Sports Authority, and The Limited did not survive the ever-changing retail industry. But on the flipside, stores such as Best Buy, Dollar General, Ross Dress For Less, TJX Cos. (T.J.Maxx, Marshalls, HomeGoods), ULTA Beauty, and countless others—most of which are in Stirling Properties’ portfolio—are all flourishing and rapidly expanding their physical presence. New-to-market retailers like Filson, Iron & Resin, KENZO, and Woolrich are getting in on the action. Even online retail-giant, Amazon, has taken note of the power of physical stores and rolled out brick-and-mortar expansion plans. Many other merchants with digital roots have followed the same path (i.e. “clicks-to-bricks”), such as Warby Parker, Fabletics, and Bonobos.
Similarly, there will be winners and losers as retail real estate investors and owners. Well located, solidly anchored centers are thriving, while Class-B and -C malls and poorly located centers are continually losing national tenants, struggling to fill empty spaces, and downsizing significantly. Some are failing altogether.
The bottom line is that consumer patterns and expectations have shifted. In this so-called “era of the high-maintenance consumer,” they demand value, convenience, multi-channel fulfillment options, and a unique, entertaining experience.
Well-located retail real estate with strong anchors is still a profitable investment option. Net absorption has been high, demand has been exceeding supply, and rents have been rising. Retail is yielding the best 20-year return of any property type due to a combination of strong fundamentals, favorable demographics, limited new supply, and cash flow growth potential. Secondary and tertiary markets are proving to be especially attractive for investors to buy value-add retail opportunities.
Retail real estate is not dying; it’s disrupted. Anyone with any involvement in the industry must embrace this changing landscape to be successful. We will continue to hear negative news and over-exaggerated headlines as the retail race endures, and more stores announce weak sales forecasts and closures. But disruption creates opportunity and a chance for reinvention. At Stirling Properties, we plan to take advantage of these opportunities to re-evaluate and enhance our portfolio and strategic growth plans.
We must ALL adapt and deliver…or get left behind!
-Marty
