Stirling 601 Poydras, LLC Acquires Pan-American Life Center in New Orleans, Louisiana
The Pan American Life Center located on the Corner of Poydras Street and Saint Charles Avenue
COVINGTON, Louisiana —- (DECEMBER 22, 2010)
Stirling 601 Poydras, LLC , an entity comprised of local investors led by Stirling Properties, recently acquired the Pan-American Life Center in New Orleans, Louisiana from Equastone Real Estate Investment Advisors, a private real estate investment firm in San Diego, California.
Stirling Properties’ Senior Vice President of Acquisitions, Jeffrey L. Marshall, led the team in this effort to acquire the 673,000 square foot high-rise located at 601 Poydras Street. The exclusive management and leasing rights will be handled by Stirling Properties, whose portfolio now includes over 12 million square feet.
“We are very excited about the acquisition of the Pan-American Life Center,” said Marty Mayer, President and CEO of Stirling Properties. “Our acquisition team seized a tremendous opportunity to own what we believe is the premier office building in the Central Business District of New Orleans.”
Lewis Stirling, an Executive Vice President and Partner of Stirling Properties, views this acquisition not only as a positive investment for the company but also as a vote of confidence in the future of New Orleans. “I believe strongly that the acquisition and development opportunities in the city are going to be plentiful over the next few years. We expect that Stirling Properties will play a major role in New Orleans growth.”
The Pan-American Life Center is a 28 story, inclusive of an eight-story parking structure located above the ground floor, Class A office building with amenities that include a full-service cafeteria and conference center. Built in 1980 as the headquarters for the Pan-American Life Insurance Co., this multi-purpose facility now serves as the headquarters to several large employers and is 91% leased. For information regarding the Pan-American Life Center contact:
Marty Mayer at 985-246-3714 or mmayer@stirlingprop.com for acquisition questions
Gaines Seaman at 504-620-8187 or gseaman@stirlingprop.com for leasing opportunities
Stirling Properties’ Agents to Serve on the 2011 CID Board of Directors
NEW ORLEANS, Louisiana – (December 6, 2010) Barrett Cooper, Commercial Sales and Leasing Agent for Stirling Properties, was formally installed as a Director for the New Orleans Metropolitan Association of Realtors (NOMAR) Commercial Investment Division’s (CID) Board of Directors.
The installation luncheon took place at the Southern Yacht Club on Friday, December 3rd where Mr. Cooper accepted the commitment to serve a two year term on the 2011 and 2012 CID Board of Directors. He joins fellow Stirling Properties Broker Associate, Bradley McCoy, who currently serves on the Board. Mr. McCoy was installed as a Director in December 2009 and will complete his term next year.
The CID is a chartered platform for commercial specialists formed to foster knowledge, education, integrity and professionalism in the field of commercial real estate. An 11 member autonomous Board of Directors is elected to address issues of mutual interest and to help create commercial opportunities for all CID members.
Both Mr. Cooper and Mr. McCoy conduct business through the Stirling Properties Office located in Suite 100 at 615 Baronne Street in New Orleans. For all Commercial Real Estate needs, contact Barrett Cooper, bcooper@stirlingprop.com, at (504) 620-8141 or Bradley McCoy, bmccoy@stirlingprop.com, at (504) 620-8144.
