Stirling Properties Expands Gulf South Presence with New Office in Mobile, Alabama
COVINGTON, LOUISIANA (OCTOBER 15, 2013) – Stirling Properties is pleased to announce the opening of a new office in downtown Mobile, Alabama at 182 St. Francis Street, Suite 101. As the company’s first location in Alabama, the office joins 11 other offices located in Louisiana and Mississippi to further strengthen Stirling Properties’ presence in the Gulf South.
“This office will not only serve the surging market and growing economy of Mobile, but also anchor the eastern side of the Interstate 10 corridor for Stirling Properties,” stated Marty Mayer, President and CEO of Stirling Properties.
Will Barrois is Stirling’s Vice President and Regional Manager of Alabama/Florida. Mr. Barrois will expand Stirling’s market presence by pursuing acquisitions of retail, office and multi-family properties, seeking new third party property management and brokerage assignments, exploring development and redevelopment opportunities, and building a top-tiered commercial brokerage team to serve Alabama and Florida.
“We are proud to be part of the growing commercial real estate market in the Gulf South. The future of Mobile is bright and the area is poised for tremendous growth,” said Will Barrois. “We’re looking forward to serving our clients throughout Alabama and Florida from our new Mobile office.”
For your commercial real estate needs in Alabama or Florida, contact Stirling Properties at the new Mobile office located at 182 St. Francis Street, Suite 101, Mobile, Alabama or call (251) 706-6457.
National Poll Shows Overwhelming Support for Online Sales Tax Collection at Time of Purchase
As a follow-up to one of my previous President’s Messages about the Marketplace Fairness Act, I wanted to comment about a recently conducted national poll by the International Council of Shopping Centers (ICSC).
The results of the poll show that the majority of American consumers (64%) are aware that they are required to pay state sales or use tax on online purchases, if not collected by the online seller, when they file their state income tax. However, other research indicates that over 98% don’t report such purchases. The poll also shows that 78% of voters feel it would be easier to pay state sales or use tax on online purchases at the time-of-purchase, rather than through special forms or when they file their state income taxes.
This poll is proof that the public is aware that this is NOT A NEW TAX, but rather one that isn’t being paid because it slips through the loopholes in the law. The current loophole is draining our state and local governments of desperately needed revenues for education, health care, police, firefighters and teacher pay, etc. Estimates of lost sales taxes in Louisiana alone due to internet sales range up to $800 million.
There is now overwhelming support for the collection of online sales tax at the time of purchase. We need to close this loophole NOW before it doubles in size.
You can read more about the poll results in this ICSC Press Release.
The Strength of the Gulf South
I wanted to share a PowerPoint I recently presented at a meeting highlighting the strength of the Gulf South. In recent years, the Gulf South has been gaining the Nation’s attention and rising to the top of many National Rankings. Activity in the Gulf South is driven by achievements in a variety of areas, must notably Energy/Oil & Gas Production, Chemical Processing, Aerospace, IT & Digital Media, the New Orleans BioDistrict and Coastal Restoration.
When you look at the entire picture of what is happening down here – from the LNG facilities in Lake Charles, Airbus in Mobile, the IBM announcement in Baton Rouge, the medical corridor in New Orleans, and the activity in the IT sector and coastal restoration – it is an amazing picture. Truly. Nowhere else in the country is this level of activity occurring.
Click the image below to view the presentation.
Stirling Properties and CBL & Associates Properties, Inc. Announce New Stores Coming to Fremaux Town Center
Fremaux Town Center (Progress as of August 31, 2013)
COVINGTON, LA and CHATTANOOGA, Tenn. – September 5, 2013 – Stirling Properties and CBL & Associates Properties, Inc. (NYSE: CBL) announce the addition of five new national tenants to Phase I of Fremaux Town Center in Slidell, Louisiana. Phase I is approximately 295,000 square feet anchored by Kohl’s, Dick’s Sporting Goods, Best Buy, T.J.Maxx, and Michaels. Construction is moving along as scheduled with an anticipated opening of Spring 2014.
Joining the previously announced tenants are:
- Cheddar’s, an inviting neighborhood restaurant offering hand-made, high quality food at a reasonable price, will occupy 8,000 square feet. This will be Cheddar’s first Southeast Louisiana location.
- Kirkland’s, a leading specialty retailer of home décor, will occupy 7,000 square feet. This will be the retailer’s third location in St. Tammany Parish.
- Panera Bread, a bakery-café bringing the tradition of freshly baked artisan bread to neighborhoods in cities throughout the country, will occupy 5,000 square feet. This will be Panera Bread’s second St. Tammany location with a store already located in Covington.
- Carter’s, a leading brand of children’s clothing, gifts and accessories, will occupy 4,000 square feet. This marks the retailer’s first location in East St. Tammany.
- Massage Envy, the pioneer and national leader of affordable massage and spa services, will occupy 3,000 square feet. This will be the second St. Tammany Parish location for the retailer.
“We are excited to bring these highly regarded retailers to the Slidell market,” said Townsend Underhill, Stirling Properties’ Senior Vice President of Development. “Their commitment to this project demonstrates the quality of this development and the strength of our regional economy.”
“The addition of these new stores and restaurants will complement and enhance the existing line-up of great retail names,” said Michael Lebovitz, CBL’s EVP – Development and Administration. “Fremaux Town Center continues to receive strong demand and is sure to be a first-class retail destination for Slidell and the entire region.”
Once complete, the 80+ acre Fremaux Town Center will consist of two phases. Phase II will include up to 320,000 square feet of additional retail space anchored by Dillard’s and is scheduled to open in Spring 2015.
For leasing information, please contact Ryan Pecot by telephone at 337.572.0246 or by email at rpecot@stirlingprop.com or Rodney Gordon by telephone at 423.553.8704 or by email at rodney_gordon@cblproperties.com.
For information on available outparcels, please contact Ryan Pecot or Robert Snetman by telephone at 423.490.8333 or by email at robert_snetman@cblproperties.com
About Fremaux Town Center
Fremaux Town Center will be located on more than 80 acres at the southwest corner of Interstate 10 and Fremaux Avenue in Slidell, LA. Slidell is the largest municipality in St. Tammany Parish on the northern shore of Lake Pontchartrain near the city of New Orleans. With its interstate location and high-visibility, Fremaux Town Center is expected to become a regional destination. Currently under construction, Fremaux Town Center Phase I is scheduled to open Spring 2014 and will include retailers such as Kohl’s, Dick’s Sporting Goods, Best Buy, T.J.Maxx, Michaels, PetSMart, ULTA Beauty, Cheddar’s, dressbarn, Kirkland’s, Versona Accessories, Rack Room Shoes, Panera Bread, Lane Bryant, Carter’s and Massage Envy. Phase II will be anchored by Dillard’s and is scheduled to open Spring 2015. For updates on Fremaux Town Center “like” us at www.facebook.com/FremauxTownCenter.
About CBL & Associates Properties, Inc.
CBL is one of the largest and most active owners and developers of malls and shopping centers in the United States. CBL owns, holds interests in or manages 154 properties, including 93 regional malls/open-air centers. The properties are located in 31 states and total 89.3 million square feet including 9.3 million square feet of non-owned shopping centers managed for third parties. Headquartered in Chattanooga, TN, CBL has regional offices in Boston (Waltham), MA, Dallas (Irving), TX, and St. Louis, MO. Additional information can be found at cblproperties.com.
Collection Drive for The Covington Food Bank a Success!
Stirling Properties just completed a 2-week collection drive for The Covington Food Bank, whose supplies have been considerably depleted over the course of the summer. Since the food bank is in desperate need of food and personal hygiene products, the Stirling Stewardship Committee organized the drive to give employees and agents at Stirling’s Corporate Headquarters in Covington the opportunity to donate toward this worthy cause. Thanks to the generosity of everyone who donated items, the Covington Food Bank now has over 700 more items to help those in need. When the items were dropped off, they totaled 704 pounds (yes, pounds)!
A special thank you to Tracy Gandy for her efforts in organizing the drive, and to Dawn Plaisance, Monica Milazzo, Jessica Zeringue and Mark Dugan who donated the most items!
Pictured: (Top Row, L-R) Monica Milazzo, Dawn Plaisance, (Bottom Row, L-R) Jessica Zeringue, Tracy Gandy
About the Covington Food Bank: The Covington Food Bank is truly a community food bank. Supported by the generosity of the residents and businesses of the Northshore, the food bank serves the needs of the most vulnerable in our community by providing food, clothing, emergency assistance and dental care. The Covington Food Bank serves residents of St. Tammany, Tangipahoa and Washington Parishes. Click here to find out how you can get involved!
Alabama Center for Real Estate’s Executive Exchange
With my recent relocation to the Mobile market as Vice President and Regional Manager of Alabama and Florida with Stirling Properties, I was invited to join the Leadership Council for the Alabama Center for Real Estate (ACRE) as well as become a lunch sponsor at the ACRE Executive Exchange Forum in Montgomery – all in one week! I used this very timely opportunity to introduce myself and Stirling Properties to the leaders of the Alabama real estate community.
Included in the forum lineup was the keynote speech from Dr. David Bronner, CEO of the Retirement Systems of Alabama (RSA), whom I found to be very relevant and instrumental in the recent success the state has had in recruiting new industry. Of the many great points made by Dr. Bronner, I was surprised to hear that RSA owns multiple television and radio stations around the country along with the largest billboard company in the U.S. and they use this media as a negotiating tool to help lure new businesses as well as promote their Alabama investments, that include the Robert Trent Jones Golf Trail and multiple high-end hotel and office properties located throughout the state. Another point Dr. Bronner made was “when it comes to real estate investment, it’s better to put your money into places you’re familiar with” which is why I and the owners of Stirling Properties made the decision to open an office in this market versus trying to run it from our corporate headquarters in Louisiana.
Stirling Properties was thrilled to be a sponsor of the Executive Exchange and I enjoyed meeting those leaders from around the state of Alabama that are making a difference. Stay tuned as we will be announcing the opening of our office very soon!
