Stirling Properties Stewardship Event Raises Over $40,000
Stirling Olympics
This past Friday, employees and agents of Stirling Properties gathered for the 3rd Annual Stirling Olympics, an event hosted by the Stirling Stewardship Committee to raise money for charitable causes. The event was a HUGE SUCCESS, with over $40,000 raised for charity!
Employees and agents divided into 10 teams with each team choosing their team name, colors, flag, and song. Charities were voted on in the weeks leading up to the event, with ALS Association and Alzheimer’s Association chosen as recipients of this year’s donations. Each of these well-deserving charities was presented with a check for $20,000.
Teams competed in 8 events – Hula Hoop Chain, Bean Bag Toss, Rubber Chicken Toss, Backwards Basketball, Word Scramble, Egg Relay, Pin the Mustache on the Partner and Shopping Cart Relay. Scores were tallied at the end of the day and individual medals were given for each event. Teams were awarded medals for top overall, top fundraising, most team spirit, most creative, and best sportsmanship. Events were judged by Tara Hernandez (JCH Development), Steve Zito (Zito-Russell Architects), Will Boudreaux (Netchex), Steven Serio (Fishman Haygood Phelps Walmsley Willis & Swanson, LLP), and Chip Songy (Former Stirling partner).
The Gold Medal overall went to Team Badditudes…congratulations to Justin Landry, Jeanne Taravella, Samantha Marshall, John Reynolds, Rhonda Creel, Brittany Orr, and Angie McArthur. Congratulations also to Ain’t Life A Beach who earned the Silver Medal – Melissa Serpas, Robin Zemke, Nathan Handmacher, Will Barrois, Ellen McCain, Bill Peitri, Paula Biggs, Jessica Zeringue, Robin Hayles, and Dominick Costanza. Townsend Underhill, Elaine Fullerton, Melinda Brazzel, Lindsey Palmer, Donna Allsup, John Toomey, Michele Wallace, Joe Gardner, Julie Watson and Mark Pinero of Stirling Funk You Up took home the Bronze Medal and Top Fundraising. Most Team Spirit awarded to Snow White & the Funky Dwarfs, Most Creative awarded to Wheelin N Dealin and Best Sportsmanship went to D’Funk Allstars.
At the end of the day, in an effort to raise even more money, the ownership team participated in a Bubble Soccer game versus 10 employees. For each goal the employees scored, the partners had to pay $500 to the Stewardship Committee. 16 goals were scored for a total of $8,000! This additional money will be used by the Stewardship Committee to donate to other charities throughout the year.
A special thanks to the Stirling Stewardship Committee for all their hard work organizing the event and making it happen.
Stirling Properties Awarded Contract for Management and Leasing of Manhattan Place Shopping Center in Harvey, Louisiana
Stirling Properties has been awarded a contract to provide management and leasing services for Manhattan Place Shopping Center located in Harvey, Louisiana. The 137,315 square foot shopping center includes Target, Ross Dress For Less, Rue21, Lane Bryant, AT&T and more.
For leasing opportunities contact Rhonda Sharkawy at 504-620-8145 or rsharkawy@stirlingprop.com. For more information on Stirling Properties’ management services visit our website at stirlingprop.com/services/PropertyAssetManagement.
Gulf South Investment Sales
Investment Sales remain a hot segment of the Commercial Real Estate Market in the Gulf South and opportunities continue to present themselves. A strong 2014 has bled over and the pattern is expected to continue.
Historically, local investors were hot on Louisiana, Mississippi and South Alabama earning slightly higher returns than most of the country. National and international investors viewed these markets as “risky” and, while considering properties in Texas and Florida, the Gulf South was too often overlooked, shrinking the buying pool.
In the past several years, that has all changed. Perception is reality, and here in the Gulf South is no exception. Low interest rates coupled with economic indicators stronger than national averages during the economic downturn grabbed the attention of investors from around the country. This led to increased activity from national investors who began seeing the opportunity that exists in these markets.
Six months ago some were asking “will lower oil prices impact the economic fundamentals in this market” and “will that impact pricing” in the Gulf South? The answers are yes and no. Yes, the energy sector does play a part in the economy. No, it has not affected pricing any more than in any other part of the country. Twenty years ago, these answers would not have been the same. Today, the economy of the Gulf South is more diverse than ever with rises in manufacturing, healthcare, technology and tourism making it more stable and attractive to investors. Gone are the days when the Gulf South economy relied so heavily on the energy sector.
Today, instead of overlooking the Gulf South, national investors are seeking out opportunities and considering properties within these markets as comparable to those of other similar markets around the country. While this may not seem to be an accomplishment, it is the first time in decades that these markets have competed on a national stage.
The continued low interest rate environment has caused many Gulf South owners to reconsider selling properties that they may not have in the past. While the so-called “bargains” of a few years ago are not as prevalent and several 2014 sales were done at all-time low cap rates, interest in acquisitions in the Gulf South remains very strong.
In 2014, Stirling Properties closed over $120 million in Investment Sales and is projecting similar numbers in 2015. Our knowledge of the Gulf South, comprehensive in-house brokerage services and proven track record of buying and selling investment properties positions us as the regional industry leaders for investment sales.
Stirling Properties’ Will Barrois Appointed to the Advisory Board of Trustees of the Alabama Center for Real Estate
Stirling Properties is pleased to announce that Will Barrois, Vice President/Regional Manager of Alabama and Florida, has been appointed as an Industry-Specific member of the Advisory Board of Trustees of the Alabama Center for Real Estate. Mr. Barrois was appointed by the University of Alabama’s Culverhouse College of Commerce, the Alabama Association of Realtors and the Alabama Real Estate Commission. The appointment is for a two-year term effective through December 31, 2016.
Stirling Properties Awarded Leasing Contract for Spanish Fort Town Center in Spanish Fort, Alabama
Stirling Properties has been awarded a contract to provide leasing services for Spanish Fort Town Center, a 447,748 square-foot mixed-use development, located in Spanish Fort, Alabama.
Totaling more than 230-acres at the intersection of Interstate 10 and Highway 90/98, Spanish Fort Town Center is anchored by Bass Pro Shops, JCPenney and Kohl’s. The site also features a Wells Fargo Bank, two Marriot hotels, retail and a restaurant. In addition to a new 3.5-acre community park, this prime location continues to undergo additional enhancements to match the sites superior access, interstate visibility and the highest traffic count in Baldwin County.
For information about available leasing opportunities, contact Jeff Barnes jbarnes@stirlingprop.com or 251-375-2496 or Angie McArthur amcarthur@stirlingprop.com or 251-375-2481.
Spanish Fort Town Center is owned and managed by Cypress Equities (Cypress). Cypress was founded in 1995 and has since established a national reputation synonymous with the premier development, operation and management of destination-class retail and mixed-use properties throughout the United States.
New Stores Coming to Phase II of Fremaux Town Center in Slidell, Louisiana
Stirling Properties and CBL & Associates Properties, Inc. (NYSE: CBL) officially announce twelve additional new tenants coming to Fremaux Town Center in Slidell, Louisiana. Anchored by a 128,000 square-foot Dillard’s, the second phase of this development will include approximately 285,000 square feet of additional retail space, including previously announced tenants Red Robin, Zales, Francesca’s and Aveda. Construction is moving along as scheduled with a planned opening of Phase II this October.
Joining the previously announced tenants are:
- Off Broadway Shoe Warehouse – 17,024 Square Feet
- Forever 21 Red – 16,900 Square Feet
- Pier 1 Imports – 9,000 Square Feet
- Victoria’s Secret – 7,226 Square Feet
- Buckle – 5,000 Square Feet
- Charlotte Russe – 5,000 Square Feet
- LOFT – 4,905 Square Feet
- Bath & Body Works – 3,090 Square Feet
- Torrid – 2,800 Square Feet
- Journeys – 2,175 Square Feet
- Claire’s – 1,204 Square Feet
- Which Wich – 1,267 Square Feet
Currently 100% leased and occupied, Phase I of Fremaux Town Center opened in March 2014 with approximately 350,000 square feet of retail anchored by Dick’s Sporting Goods, Michaels, T.J.Maxx, Kohl’s and LA Fitness. Located on more than 80 acres at the southwest corner of Interstate 10 and Fremaux Avenue in Slidell, Fremaux Town Center will be roughly 635,000 square feet upon completion. With its interstate location and high-visibility, Fremaux Town Center is expected to become a regional shopping destination.
For leasing information, please contact Ryan Pecot at 337-572-0246 or email at rpecot@stirlingprop.com; Rodney Gordon at 423-553-8704 or email at rodney_gordon@cblproperties.com or Tim Gilmore at 423-490-8358 or email at tim_gilmore@cblproperties.com.
