JCH Development and Stirling Properties Celebrate Groundbreaking of Magnolia Marketplace
Earlier today JCH Development, Stirling Properties, Mayor Mitch Landrieu, elected officials and other dignitaries commemorated the groundbreaking of Magnolia Marketplace, a 106,000 square-foot shopping center located in New Orleans, LA at the intersection of South Claiborne Avenue and Toledano Street.
“We are proud to bring a dynamic new retail development to an underserved portion of Central City. This development will bring a formerly vacant and blighted piece of property in the City of New Orleans back to commerce”, stated Tara Hernandez, President of JCH Development.
“Magnolia Marketplace is further proof that New Orleans is on a retail roll,” said Mayor Mitch Landrieu. “This project represents economic growth, jobs and opportunities and more retail options for an underserved community. Projects like this are why people are looking at New Orleans as a model for economic revival and urban renewal.”
Tenants scheduled to open in spring 2015 are Ross Dress For Less, T.J.Maxx, Michaels, PetSmart, Shoe Carnival, ULTA Beauty and Raising Cane’s. The project is 100% pre-leased. Previously announced was the 6,000 square foot initial phase of Magnolia Marketplace development located at the intersection of South Claiborne Avenue and Fourth Street. Capital One Bank is currently open in that building. T-Mobile and Subway are slated to open in early 2014.
“This project embodies the strength of the New Orleans recovery and represents yet another important step in bringing retail back to the city,” stated Townsend Underhill, Senior Vice President of Development. “We are excited to be moving forward with Magnolia Marketplace, another project that signifies Stirling’s commitment to the City of New Orleans.”
Stirling’s recent projects in New Orleans include Mid-City Market, a 108,000 square-foot Winn-Dixie anchored shopping center located at North Carrollton Avenue and Bienville Street, as well as the full renovation of the former American Legion building located on Magazine Street into a new 13,000 square foot Walgreens Marquee Store. Since 2011, Stirling Properties has invested over $120 million in the City New Orleans.
JCH Development’s most recent project is the conversion of the former Blue Plate manufacturing facility into the Blue Plate Artist Lofts, 72 residential lofts, on South Jefferson Davis Pkwy.
For more information, contact Townsend Underhill at tunderhill@stirlingprop.com or 985-898-2022, or for leasing information contact Rhonda Sharkawy at rsharkawy@stirlingprop.com or 504-523-4481.
President’s Message: Forging Ahead in 2014
It hardly seems possible that we are beginning another year. It seems as if I was just emailing about the start of “Lucky 13“!
“Lucky 13” kicked off with our announcement of a joint venture with CBL & Associates Properties, Inc. to develop Fremaux Town Center in Slidell, Louisiana, and in just 2 months, we will have the grand opening of Phase I. The year ended with the successful closing of the land acquisition and development financing for Magnolia Marketplace in New Orleans, a partnership with JCH Development that will break ground this month.
In between those 2013 bookends, we also accomplished:
- Openings of Walgreens on Magazine Street in New Orleans and in Gulfport, MS
- Securing contract for management of Louisiana Boardwalk in Bossier City
- Grand opening of Mid-City Market in New Orleans
- Opening of our Mobile, AL office
- Expansions of our existing shopping centers – Stirling Bossier, Stirling Lafayette, River Chase (Covington) and MacArthur Village (Alexandria)
- Renovation of Tiger Manor Apartments in Baton Rouge
- Financing of over $174 Million
- Acquisition of United Plaza VIII in Baton Rouge
As proud as I am of our team for all of these accomplishments and more, I am even more proud of the spirit of team and caring for others. Through the leadership of the Stirling Stewardship Committee, the Stirling team significantly contributed money, essential items, and most importantly generously volunteered their personal time for causes such as Habitat for Humanity, food collection drives, breast cancer walks, YMCA Corporate Cup and Volunteers of America’s Christmas Wish Project.
It is because of this talented, dedicated, and motivated team that we are able to achieve so much. I am proud to be part of such a team. Looking ahead to 2014, it will be a very exciting year for Stirling as well as the Gulf South.
New Orleans: A City of Possibility
A recent email from Michael Hecht, CEO of GNO Inc., highlighted another positive ranking for New Orleans. The city was named as one of the Top 20 “Cities of Possibility” in the World in Good magazine’s new “Good City Index”. To create this list of global “cities they are betting on,” the magazine looked at a combination of factors:
- “Hub for Progress”
- Civic Engagement
- Transportation
- “Local Vibes”
- Green Space
- Diversity
- Signature Movements
- Work/Life Balance
Driven by “a spirit of self-determination that has been a powerful driving force over the past eight years,” New Orleans shares the global recognition with:
- Mexico City
- Singapore
- Budapest
- Nairobi
- Seoul
- Johannesburg
- Istanbul
- Beirut
- Rio De Janeiro
- Buenos Aires
- Montreal
- Paris
- Perth
- Tel Aviv
- Santiago
- Kuala Lumpur
- Accra
- Atlanta
- Wellington (NZ)
Certainly, this is an impressive list of global cities to be ranked amongst. It is yet another testament to how far we have come. While much work remains, it is truly an exciting time to be a part of the NEW New Orleans.
Stirling Properties and JCH Development Complete Acquisition for Land to Develop Shopping Center in New Orleans
Stirling Properties and JCH Development are pleased to announce the closing of the land acquisition and development financing for Magnolia Marketplace, a 106,000 square-foot shopping center located in New Orleans, LA at the intersection of South Claiborne Avenue and Toledano Street. First NBC Bank of New Orleans provided financing for the project.
“This project required a true partnership and we are excited to be a part of providing new jobs and economic opportunities to the residents, neighborhood, DBE businesses and the City of New Orleans. We are truly grateful for the support and collaboration on this project with the Mayor’s office, the City Council, and the Community, without which this project would not have been possible”, stated Townsend Underhill, Senior Vice President of Development for Stirling Properties.
“We are proud to bring a dynamic new retail development to an underserved portion of Central City. This development will bring a formerly vacant and blighted piece of property in the City of New Orleans back to commerce”, stated Tara Hernandez, President of JCH Development.
Stirling and JCH previously announced the 6,000 square foot initial phase of the Magnolia Marketplace development located at the intersection of South Claiborne Avenue and Fourth Street. Capital One Bank is currently open in that building. T-Mobile and a proposed national sandwich shop are slated to open in early 2014.
Tenants scheduled to open in spring 2015 are Ross Dress For Less, T.J.Maxx, Michaels, PetSmart, Shoe Carnival, ULTA Beauty and Raising Cane’s. The project is 100% pre-leased. The Developers expect to break ground on the project this coming January.
Stirling’s recent projects in New Orleans include Mid-City Market, a 108,000 square-foot Winn-Dixie anchored shopping center located at North Carrollton Avenue and Bienville Street, as well as the full renovation of the former American Legion building located on Magazine Street into a new 13,000 square foot Walgreens Marquee Store. Since 2011, Stirling Properties has invested over $120 million in the City New Orleans.
JCH Development’s most recent project is the conversion of the former Blue Plate manufacturing facility into the Blue Plate Artist Lofts, 72 residential lofts, on South Jefferson Davis Pkwy.
For more information, contact Townsend Underhill at tunderhill@stirlingprop.com or 985-898-2022, or for leasing information contact Rhonda Sharkawy at rsharkawy@stirlingprop.comor 504-523-4481.
Fremaux Town Center – December Update
Fremaux Town Center – As of December 16, 2013
Fremaux Town Center is branded with it’s Interstate pylon now complete. Building construction operations are focused on the March Grand Opening and interior tenant construction continues on the Anchor stores. Individual tenant contractors are expected the first of the year to commence with small shop build outs. Paving and Landscaping installation is progressing with a completion projected for February.
Stay tuned for more updates!
Stirling Properties Participates Company-Wide in Volunteers of America’s Christmas Wish Project
Employees and agents of Stirling Properties teamed up to donate Christmas presents, food baskets and other essential items to Volunteers of America’s Christmas Wish Project. Stirling’s Stewardship Committee organized the company-wide event by partnering with Volunteers of America in Greater New Orleans, Greater Baton Rouge, and Northwest Louisiana to serve the New Orleans Northshore and Southshore, Baton Rouge, Lafayette, and Shreveport-Bossier City.
“Volunteers of America is an inspiration for us all to give back to our communities. This was truly an amazing and heartwarming effort by the Stirling Team and will make this Christmas better for the many people served by the Christmas Wish Project,” stated Marty Mayer, President and CEO of Stirling Properties.
For more information about Stirling’s Stewardship Committee, please visit us on the web at http://stirlingprop.com/aboutus/Stewardship.aspx or by email at stewardship@stirlingprop.com.
