Stirling Properties and CBL & Associates Properties, Inc. Developing Phase II of Fremaux Town Center in Slidell, LA
Anchored by Dillard’s, Phase II is Over 70% Leased
Stirling Properties and CBL & Associates Properties, Inc. (NYSE: CBL) announced today the construction of the second phase is underway at Fremaux Town Center in Slidell, Louisiana. Site work commenced in June with a scheduled opening in October 2015. Phase II will include roughly 285,000 square feet of additional retail space and will be anchored by a 128,000 square-foot Dillard’s. Phase II is over 70% leased, including executed leases with Red Robin, Zales, Aveda and Francesca’s as well as numerous other retailer commitments to be announced as the project progresses.
“We are excited to offer additional retail and restaurant options for the region that will complement the existing mix of successful stores and restaurants at the center,” stated Townsend Underhill, Stirling Properties’ Senior Vice President of Development.
Currently 99% leased, Phase I of Fremaux Town Center opened in March of this year with approximately 350,000 square feet of retail anchored by Dick’s Sporting Goods, Michaels, T.J.Maxx, and Kohl’s. Sports Clips and Panera Bread recently opened and several other tenants are scheduled to open as follows: Payless ShoeSource and Five Guys Burgers and Fries this week, Starbucks in September, and rue21 and a 41,000 square-foot, full-service LA Fitness later this year. BJ’s Restaurant & Brewhouse recently purchased a 2.3 acre outparcel and is also now under construction with an opening scheduled in early 2015.
“Fremaux Town Center has been successful from the start due to the collection of retailers here and the ideal location,” said Michael Lebovitz, Executive Vice President of Development and Administration at CBL. “This expansion allows us to add even more great retailers to the mix.”
Located on more than 80 acres at the southwest corner of Interstate 10 and Fremaux Avenue in Slidell, Fremaux Town Center will be over 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 Robert Snetman at 423.490.8333 or email at robert_snetman@cblproperties.com.
President’s Message: A Championship Season
With the coming of Fall (hopefully soon) and the kickoff of a brand new football season filled with lofty expectations, excitement is in the air.
Let’s cheer our economic environment – our region remains strong and the nation continues to notice. Just last week, Louisiana was recognized again by a national publication – this time ranking #1 for Best Business Climate in the United States on Business Facilities’ annual Rankings Report, with Alabama rounding out the Top 10. According to the article, “if natural gas, gumbo and Mardi Gras are the only things that come to mind when you think about Louisiana, think again. Name a growth sector – digital media, advanced manufacturing, IT/software – and Louisiana has a specific program geared to welcome new players, with a proven track record of successful startups.”
Perhaps even more impressive, the same magazine’s annual Metro Rankings Report placed Baton Rouge #2, Mobile #3 and New Orleans #5 for Economic Growth Potential – three cities along the booming Gulf Coast in the Top 5, and all are cities where Stirling Properties is actively engaged. Other metro markets in our region are expanding as well – namely Lake Charles, Lafayette, Houma/Thibodaux and Shreveport/Bossier City.
Since my last President’s Message, Stirling too has continued to expand and grow in all of these markets. Our recent efforts include the acquisition of John Toomey & Company in Mobile, commencement of Phase II of Fremaux Town Center in Slidell and the addition of Sam’s Club to Stirling Bossier Shopping Center in Bossier City. We also have in the pipeline two new retail developments in Lake Charles and Lafayette, and we are actively involved in a number of other exciting initiatives.
Our new projects and growth, positive national rankings for our region and the upcoming football season are all certainly creating a buzz of excitement around here…let’s add football champions to the growing list!
Stirling Properties Supports Lafayettte Foundation on Aging’s Adopt-a-Senior Program
Barbara Meaux and Carolyn Ciarrocchi from our Lafayette office present donation to Larry Baker of the Lafayette Foundation on Aging
Stirling Properties is happy to support the Adopt-a-Senior program of the Lafayette Foundation on Aging. Stirling’s contribution will ensure that a senior will receive a home-delivered meal for a year and it is a good feeling to know how our contribution will directly help someone in our community.
The Lafayette Foundation on Aging works to provide daily home-delivered meals to at risk, homebound senior citizens. Their Adopt-a-Senior program provides a large portion of those meals. Last year, 117,300 meals were delivered to seniors who can no longer cook for themselves.
There are over 450 seniors on their waiting list for meals, so there is still a great need. You too can help the Foundation continue its meal delivering mission through the Adopt-a-Senior program. To make a contribution, send a check to the Lafayette Foundation on Aging, Inc., 160 Industrial Parkway, Lafayette, LA 70508. For more information, contact Larry Baker at 337-262-5990.
Click here to learn more about Stirling’s Charitable Giving.
2nd Annual Stirling Olympics Raises Over $30,000!
This past Friday, employees and agents from all offices gathered for the 2nd Annual Stirling Properties Olympics, an event hosted by the Stirling Stewardship Committee to raise money for charitable causes. The event was a HUGE SUCCESS, raising over $33,000! Employees and agents divided into 10 teams with each team choosing their team name, colors, flag, and song. Charities were voted on prior to the event, with St. Jude Children’s Research Hospital and The Disposable Heroes Project chosen as recipients of this year’s donations. Teams raised over $33,000 through personal donations and attaining sponsors. Teams were able to earn points the week leading up to the Olympics by correctly answering Stirling Trivia questions. On the day of the Olympics, teams competed in 10 events – Swim Tube/Goggles Relay, Egg Relay, Blind Basketball, Rubber Chicken Toss, Bean Bag Toss, Puzzle Relay, Obstacle Texting Race, Bowling, Hula Hoop Contest, and Tricycle and Bouncy Ball Relay. Scores were tallied at the end of the day and medals were given for each event and the top overall teams. Events were judged by Jamey Flegal (CBL & Associates Properties), Tara Hernandez (JCH Development), Will Boudreaux (Netchex), Jeanne Wallace (Wright & Percy), Tommy Buckel (Duplantis Design Group), and Steven Serio (Fishman Haygood Phelps Walmsley Willis & Swanson, LLP). The Gold Medal overall went to Mr. T and the McFlys…congratulations to Townsend Underhill, Sharon Amacker, Jessica Zeringue, Ellen McCain, Amanda Pfeil, Kelly Wellmeyer, Robert Dischler, Ryan Murphy, Dinah Rawls, and John Woodard. Congratulations also to Paul Mastio, Kristy Beach, Tracy Gandy, Lindsey Palmer, Cyndie Quave, Melissa Serpas, Dick Cyr, Jill Meeks, and Donna Allsup of Mastio’s Minions who earned the Silver Medal. Chris Abadie, Melinda Brazzel, Glinda Erler, Hazel Fischer, Brittany Orr, Valerie Sterkx, Joe Gardner, Justin Landry, Ashley Hosey, and John Hayes of Brewskies and a Six Pack took home the Bronze Medal. At the end of the day, in an effort to raise even more money, the ownership team volunteered to be “slimed”, but employees and agents had to outbid them for the right to drench them in the green slime. Employees were obviously motivated to slime the owners as over $6,000 was collected toward the overall total. One owner was outbid and employees paid $1,300 to see him slimed! A special thanks to the Stirling Stewardship Committee for all their hard work on organizing the event and making it happen. A fun day was had by all and we look forward to more events like this in the future!
LSU Students attend ICSC RECon on Scholarship
Pictured (L-R): Justin Landry, Braden Eddy, John Woodard, Jimmy Maurin, Jeremy Lapeyrouse, Brian Brumfield, Kaylan Kuehler and Garrett Mickal
Jimmy Maurin and Roger Ogden, founders of Stirling Properties, have both always believed strongly in mentoring students interested in pursuing careers in real estate. This year, Jimmy and Roger started the 2014 Maurin Ogden LSU Real Estate Award, putting funds in a foundation with the International Council of Shopping Centers (ICSC) that will be used exclusively to better the real estate program at Louisiana State University (LSU).
Six LSU students – Braden Eddy, John Woodard, Jeremy Lapeyrouse, Brian Brumfield, Kaylan Kuehler and Garrett Mickal – were selected as the award’s inaugural recipients. The award covered their airfare, hotel and convention costs to attend the 2014 ICSC RECon in Las Vegas. At the convention, the students had numerous meetings with industry leaders, participated in business meetings at Stirling Properties’ booth, and networked with potential employers.
Justin Landry, Stirling’s Asset/Finance Manager, chaperoned the students on the trip. Justin teaches Finance 3900 (Commercial Real Estate Valuation) at LSU and all six of the students have taken his course.
Stirling Properties was happy to host the students in our booth and we wish them the best in their future endeavors.
Stirling Properties Expands Presence in Mobile, Alabama by Acquiring John Toomey & Company, Inc.
COVINGTON, LOUISIANA (MAY 13, 2014) – Stirling Properties announces the acquisition of John Toomey & Company, Inc., a commercial real estate company based in Mobile, Alabama. The acquisition of John Toomey & Company, Inc. further strengthens Stirling Properties’ presence in the Gulf South and is a critical step in Stirling’s long-term strategic growth plans.
Toomey’s current portfolio of 1.8 million square feet will be integrated into Stirling Properties’ portfolio bringing the total to 15.5 million square feet. John Toomey and his team will join Stirling Properties, with Mr. Toomey to serve as Broker/New Business Development Coordinator for the Mobile Area.
Marty Mayer, President and CEO of Stirling Properties, said, “The incredible resurgence of the Gulf Coast as the country’s Third Coast has provided growth and opportunities all along the Gulf South. We feel as though Mobile is a key component in this resurgence. To increase our regional presence, we are excited to collaborate with a company that has over 20 years’ experience and deep roots in Mobile.”
The founder of John Toomey & Company, Inc., John Toomey, believes that aligning with Stirling Properties will provide a higher caliber of service to existing and future clients. “Stirling Properties is a very strategic and forward-thinking company. The resources they offer our brokers and property owners will enable us to take our client services to a new level. I am so proud of my team and find it very gratifying that our work was noticed and appreciated by Stirling Properties.”
“This alignment reinforces Stirling Properties’ commitment to personally invest in the markets we serve and provides a strong foundation for continued growth in all facets of our company that include the development, management, brokerage and acquisition of commercial properties throughout Alabama and the Gulf South”,” stated Will Barrois, Stirling Properties Vice President/Regional Manager of Alabama and Florida.
For commercial real estate needs in Alabama, contact Stirling Properties at their Mobile office located at 182 St. Francis Street, Suite 101, or call (251) 706-6457.
