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.
President’s Message: What Happens in Vegas Doesn’t Stay in Vegas!
Last month’s International Council of Shopping Center’s (ICSC’s) RECon 2013 in Las Vegas was very encouraging. Overall attendance for the retail real estate industry’s biggest annual global event was over 35,000, a 10 percent increase from 2012 and a post-Recession record. Attendees and exhibitors, including retailers, developers, lenders and brokers, expressed optimism about the health of the U.S. retail real estate industry. I also noticed more young people coming into the industry, a trend I haven’t seen in many years…or maybe I’m just getting old.
It was quite obvious to me that everyone at the convention was more relaxed, but busier than in recent years. Our Stirling team had a full slate of productive meetings for all our properties, and we were all touting the strength of the Gulf South market. There was significant interest in our current development projects – Mid-City Market that will open next month in New Orleans, Fremaux Town Center under development in Slidell, and our recently announced Magnolia Marketplace project in New Orleans. We expect to finalize many deals from our meetings for these and other properties.
[wpvideo 0nNAm2jd]Another exciting development at Stirling Properties is the opening of our new office in Mobile, Alabama! Our new office will help us to expand our presence in the region in an area that is experiencing exponential growth. You will be hearing more specifics about this in the very near future!
The window of opportunity is definitely open for us now and we are all working hard to take advantage of this momentum. What happens in Vegas doesn’t stay in Vegas – it will produce positive outcomes for us at Stirling and the Gulf South. Stay tuned for more news!
Stirling Properties to Develop Full-Service Walgreens Drugstore on New Orleans Westbank
Stirling Properties is pleased to announce the development of a new full-service Walgreens drugstore in Terrytown, Louisiana on the Westbank of New Orleans. The proposed Walgreens will be located at the intersection of Terry Parkway and Carol Sue Avenue on the site of the former A&P Grocery/Eckerd Drug anchored shopping center. The new store will be a relocation of the existing Walgreens located across Terry Parkway. “This project represents a cooperative effort between Stirling Properties and Jefferson Parish to bring back a distressed commercial property to prominence once again as a viable retail corner that will serve the people of Terrytown”, said Peter Aamodt, Vice President of Development for Stirling Properties.
The larger 17,384 square foot store will have a drive thru window and full service pharmacy and will serve as a catalyst for future development to help revitalize an aging retail corridor. Construction on the Terrytown store is slated to begin in April and open in the fourth quarter of 2013. Stirling is providing pre-development services, including lease negotiation, permitting, financing, design, as well as construction and project management.
As a preferred developer for the Walgreens Company in the Gulf South, Stirling Properties has had a long-standing relationship with the retailer. Construction is currently underway on two other Stirling Properties Walgreens developments located on Magazine Street in New Orleans, Louisiana, and on Pass Road in Gulfport, Mississippi.
For more information, contact Peter Aamodt, Vice President of Development for Stirling Properties, at paamodt@stirlingprop.com or by calling (504) 523-4481.
Stirling Properties Launches New Corporate Website www.StirlingProperties.com
COVINGTON, LA – Stirling Properties announces the launch of our newly redesigned and updated corporate website, www.StirlingProperties.com. The new website features streamlined navigation and improved functionality for a better online experience. In addition, Stirling Properties has rebranded our Facebook, Twitter and Stirling Insights blog.
New website features include:
- Quick Commercial Property Search
- Improved navigation to our core services – brokerage services, development/redevelopment, acquisitions/investments, and property/asset management
- Ability to search Our People
- Case studies highlighting the services we offer, including case studies about The Fresh Market and Pan American Life Center in New Orleans, Hammond Square in Hammond, River Chase in Covington, and Stirling Communities – Multi-Family in Baton Rouge and Lafayette
- Access to the latest news, press releases and market research
- Stay connected with easy navigation to our Social Media sites, including Facebook, Twitter and Stirling Insights blog
The new corporate website can be viewed at www.StirlingProperties.com.
East Coast, West Coast…Emergence of the Third Coast
I wanted to share this recently published article, “The Rise of the Third Coast,” by Joel Kotkin, an internationally-recognized researcher and author on global, economic, political and social trends. In the piece, Kotkin describes the “Third Coast,” in large part driven by a “resurgent New Orleans” region, as “one of the major forces in twenty-first-century America.”
One quote in this article that is particularly striking to me is regarding the education system:
In a new report, government efficiency expert David Osborne describes New Orleans’s reforms as a “breakthrough.” The results, he says, are “spectacular: test scores, graduation rates, college-going rates, and public approval have more than doubled in five years.” He adds, “I believe this is the single most important experiment in American education today.”
Stirling Properties to Develop Full-Service Walgreens Drugstore in Gulfport, MS
Stirling Properties is pleased to announce the development of a new full-service Walgreens drugstore in Gulfport, Mississippi. The proposed Walgreens will be located at the intersection of Pass Road and Interstate 49 at the location of the former Gulfmart Shopping Center. Stirling Properties is providing development services, including lease negotiation, financing, and project management, to a third party owner of the property.
The 13,650 square-foot store will have a drive-thru window and full service pharmacy and will serve as a catalyst for future retail development of that corridor. The Gulfport store is slated to begin construction in January and open in the third quarter of 2013.
As a preferred developer for the Walgreens Company in the Gulf South, Stirling Properties has had a long standing relationship with the retailer. “Our team has been working successfully with Walgreens for the past 10 years and has delivered over 25 stores with many more in the pipeline”, said Peter Aamodt, Vice President of Development for Stirling Properties. “Stirling is committed to finding new development opportunities for all of our retail clients in the Gulf South.”
For more information, contact Peter Aamodt, Vice President of Development for Stirling Properties, at paamodt@stirlingprop.com or by calling (504) 523-4481.
