Climbing Back to Prerecession Employment Levels
The Atlanta Fed’s SouthPoint blog provides commentary and observations on regional economic topics, issues, industries, and trends. “The Long Climb Ahead”, a recent blog post by Michael Chriszt, assistant vice president in the Atlanta Fed’s research department, explores how the states are doing in terms of getting back to prerecession employment levels, with a particular emphasis on Louisiana, Mississippi, Alabama, Florida, Georgia & Tennessee. According to the post, “Georgia has not even started its climb, and when Florida looks up at where it needs to go to get back to where it was in terms of total employment, its climb is incredibly steep. Alabama has a long way to go, Mississippi and Tennessee are a bit farther along, and Louisiana is getting close to the summit.”
Mr. Chriszt also includes charts that highlight the divergence between public and private sector employment growth. “Only six states fall in the ‘expanding’ quadrant for government employment, and only two states have private sector employment that falls in the ‘lagging’ quadrant.” Consistent with the overall findings, Louisiana’s private sector employment momentum is ‘expanding’, although government employment momentum is ‘lagging’. Click here to read the entire post
Stirling Properties Celebrates Grand Opening of New Retailers at Premier Centre
COVINGTON, Louisiana (NOVEMBER 2, 2011) Stirling Properties, developer and manager of Premier Centre, a 295,000 square foot grocery-anchored neighborhood and community shopping center, announces the grand opening this week of national retailers Coldwater Creek and Buckle. (more…)
New Orleans’ Growing Medical Corridor
The growing medical corridor in New Orleans is officially known as BioDistrict New Orleans, a state-enabled economic development district that was created by the State of Louisiana in 2005 for the purpose of developing a biosciences industry in New Orleans that will provide research and development, healthcare delivery, and stable, high-paying jobs. The 1,500-acre district spans the Downtown and Mid-City neighborhoods of New Orleans. The economic impact is estimated to be 22,000 new jobs in the city of New Orleans over the next eight to ten years, not only in biosciences, but also in banking, law, construction and other service industries that stand to benefit. The area’s major developments include:
- Veterans Affairs Medical Center (Project Legacy)
- Status: Under Construction
- Groundbreaking/Completion: June 2011/Late 2014, full activation 2015
- Site: 30 acres bounded by Tulane Avenue and Canal, S. Galvez & S. Rocheblave Streets
- Size: 1.6 million square feet with 2 additional 1,000-car garages; 200-bed complex will serve over 70,000 enrolled Veterans
- Cost: $995 million construction budget (fully funded)
- Jobs: 1,100 new employees
- University Medical Center
- Status: Site preparation work, construction to begin by year end
- Groundbreaking/Completion: April 2011/2015
- Site: 34 acres bounded by Canal & S. Galvez Streets and Tuland & South Claiborne Avenues
- Size: 2.2 million square feet, 424-bed public hospital to replace Charity Hospital
- Cost: $1.09 billion; state lawmakers approved funding September 2011
- Jobs: 5,280 new and saved jobs over first five years
- Part of collaborative complex with the new VA Medical Center (see above)
- Both will be key academic anchors for LSU, Tulane, Dillard, Xavier, SUNO, Delgado, and others throughout South Louisiana
- Louisiana Cancer Research Center
- Status: Under Construction
- Groundbreaking/Completion: April 2009/January 2012
- Site: Tulane & South Claiborne Avenues
- Size: Shared 175,000 square-foot, 10-story facility
- Cost: $90 million
- Developed by the Louisiana Cancer Research Consortium, a partnership among LSU Health Sciences Center, Tulane Univerity, Xavier University of Louisiana, and Ochsner Health System
- New Orleans BioInnovation Center
- Status: Open & Operating
- Completed: June 2011
- Site: 1441 Canal Street
- Size: 66,000 square feet of state-of-the-art wet-lab, office and conference space
- Cost: $47 million
- To house biotech and life sciences entrepreneurs and startups, as well as support research at four area universities; housing about 200 employees from 80 companies at full capacity
- Critical link that turns university research into privately commercializable enterprises
- Five biotech start-ups and two venture captial firms have already moved into the building, and twelve more are on the way
- Ochsner Health System
- Relocating 500 to 750 employees to the CBD during the 1st Quarter 2012
- Moving executive, corporate and business functions (no medical care)
- 80,000 square feet on top 4 floors of the Benson Tower (enough room to grow to 1,000 employees)
- Signifies Ochsner’s growing presence in the local economy and New Orleans’ medical hub
For exciting leasing opportunities in the heart of this growing medical corridor, office spaces are available at the 1615 Poydras Street office building located directly across from the Superdome. Available spaces range from approximately 1,500 to 45,130 contiguous square feet. For more information contact Gaines Seaman at (504) 620-8187 or gseaman@stirlingprop.com.
New Office Park Coming to River Chase
In addition to the announcement of Sam’s Club and other exciting new retail tenants coming to River Chase Shopping Center in Covington, Louisiana, Stirling Properties is actively pre-leasing the first phase of the Offices at River Chase, a 42 acre office park that will feature a parking garage and is within walking distance to hotels, restaurants, banks, a theater, luxury apartments and over 945,000 square feet of retail.
Rendering
The 6-story, 157,400 square-foot premier, Class A office building will be the first of the five-building Offices at River Chase. Available spaces range from approximately 1,800 to 26,000 square feet per floor. The building will be built with state-of-the-art construction using the highest quality materials and will have LEED Silver Certification from the U.S. Green Building Council. The architectural firm is Wakefield, Beasley & Associates, a highly respected firm committed to designing environmentally responsible buildings all over the world. We are looking for 50% minimum preleasing prior to beginning construction. Stirling Properties will be developing, managing and leasing the buildings. For information about the Offices at River Chase contact Lee de la Houssaye, Leasing and Sales Associate for Stirling Properties, at ldelahoussaye@stirlingprop.com or call (985) 246-3774.
Multiple Stores to Open at Stirling Bossier Shopping Center
- New tenants at Stirling Bossier Shopping Center
SHREVEPORT/BOSSIER CITY, Louisiana —- (OCTOBER 10, 2011) Stirling Properties, developer and property manager of Stirling Bossier Shopping Center, announces the addition of the following national retailers to its tenant lineup: Old Navy, ULTA Beauty, Maurices, Mattress Firm, The Joint and GNC. The phased opening of these new locations over the next six months completes phase four of the center’s six planned phases. Details behind the opening of these locations are as follows:
The Advantage of a Three Step Insured Property Loss Claims Strategy
You just received a call on your cell that a small fire has occurred at the office building you manage and coincidentally operate out of. You return to your office to find that while the fire was small, the subsequent fire sprinkler damage is heavy…. Now what?
Insured property loss claim events are often ill-timed and come in a variety of types and sizes. While the occurrence is hardly predictable, the proper management of a claim process should lead to predictable results. As with any challenging situation you encounter in business, gaining and maintaining the advantage is the key to success. At Stirling, we use a simple three step strategy. This strategy will prepare you with the tools to tackle the simple, and the complex insured property loss claims and create predictability throughout the claim and restoration process. (more…)
