Fremaux Town Center – November Update
Fremaux Town Center – As of November 18, 2013
Fremaux Town Center is really starting to take shape! Exterior color finishes are being added to the buildings and the Shopping Center’s pylon is rising from its base. The parking field is defined with asphalt, and the lot lighting and landscaping are being installed. The interior work on the specific tenant build-out requirements is taking shape and several tenant contractors will be on site starting in late December.
We are pushing for a March 2014 grand opening for Phase I with the majority of tenants opening by that time, so the next few months will be busy with even more construction. Stay tuned for more updates!
Fremaux Town Center – October Update
Almost overnight Fremaux Town Center has risen into a sizable addition to the landscape of Slidell. Building construction is continuing with all of the Phase 1 tenant buildings vertical and many with roofs completed and facades commenced. Color is being added to the exteriors and identification of the major tenant’s storefronts are becoming obvious. Interior work is also underway for the anticipated Spring openings.
Site work has progressed with curb and paving of the parking lots and drives. Landscape islands and ponds are developing with planting to commence in about 30 days.
Stay tuned for an upcoming announcement about newly signed tenants!
President’s Message: It’s a New Day in New Orleans!
Last week, we celebrated the Grand Opening of Mid-City Market in New Orleans. This Winn-Dixie anchored, urban shopping center is a milestone for Stirling Properties, as it’s our largest ground-up shopping center development in the City of New Orleans in our company’s 37 year history! It also represents one of the most significant retail developments in New Orleans since Hurricane Katrina, taking once blighted and vacant properties and returning them to commerce. This project creates over 500 new jobs and generates projected annual retail sales of over $61 Million.
Mid-City Market is the culmination of over 4 years of work and it was a challenge to put (and keep) all the pieces together. Few companies could take on a project of this complexity and succeed, but Stirling Properties was up for this challenge.
I want to commend our incredible team who worked on this project for a job well done! There were many points in time where it looked like the deal was dead, but our Stirling team worked diligently to complete it. It was through their hard work and perseverance that this inner-city project materialized.
I also want to commend Mayor Mitch Landrieu for his vision and leadership and Councilwoman Susan Guidry for her incredible support and drive to help make this a reality for Mid-City.
The Mid-City Market project is a result of over $40 Million in private investment and demonstrates our strong belief in the City of New Orleans and the civic and business leadership which has created an environment where businesses are confident to invest. A plethora of national and regional rankings paint a truly remarkable picture of New Orleans as THE city on the move, which is in stark contrast to previous decades.
This project, combined with our other projects completed to date, brings Stirling’s investments to over $120 Million in the City of New Orleans in just the last 3 years. All of us at Stirling Properties are confident in the direction of New Orleans, and Mid-City Market shows our continued commitment to the market. This project was the first for us in many ways and certainly will not be the last.
Grand Opening of Mid-City Market
Stirling Properties’ largest ground-up Retail Development in New Orleans
Today, Stirling Properties celebrates the grand opening of Mid-City Market, located at North Carrollton Avenue and Bienville Street in New Orleans. The 108,763 square-foot shopping center, anchored by a 54,390 square-foot Winn-Dixie, represents one the of the most significant retail developments in New Orleans since Hurricane Katrina. This highly anticipated urban development brings new retailers to an established, historical neighborhood. The Honorable Mayor Mitch Landrieu commented that, “Mid-City Market is proof that New Orleans is building back better than before. This project took once blighted and vacant properties and transformed them into a retail and restaurant hub for the community. It’s another example of a strong public-private partnership delivering new jobs, new tax revenue and new energy to this important corridor. The project also will nicely complement the nearby Lafitte Greenway, the linear park that will link neighborhoods and spur activity and redevelopment across the city.” Mid-City Market is a result of over $40 Million in private investment, illustrating Stirling’s continued commitment to the market. The center creates over 500 new jobs in the area. Mid-City Market was designed to complement and address the proposed Lafitte Greenway pedestrian and bicycle pathway that is scheduled to begin construction later this year and will border the shopping center. “We have been diligently pursuing this development for the better part of 4 years. Completing this project is the culmination of a great deal of work by many people. It is extremely gratifying for us all to see the fruits of our labor, this project is very exciting for the future of the City of New Orleans and the Mid-City neighborhood,” states Townsend Underhill, Senior Vice President of Development at Stirling Properties. To commemorate the Grand Opening, special guests Mayor Mitch Landrieu, Councilwoman Susan Guidry, and Winn-Dixie’s Regional Vice President Karena Niblett will attend. Stirling Properties’ President and CEO Marty Mayer and Senior Vice President of Development Townsend Underhill will address the audience at the event.
Tenants Now Open Winn-Dixie Office Depot Jefferson Feed Pet & Garden Center Panera Bread Pizza Hut LA Nails Spa
Tenants Opening Soon Verizon Wireless Felipe’s Taqueria Five Guys Burgers and Fries Pei Wei Asian Diner Ochsner Urgent Care Clinic Pinkberry GNC
For development inquires, contact Townsend Underhill, Senior Vice President of Development for Stirling Properties, at tunderhill@stirlingprop.com or by phone at 985-246-3785. For information about leasing opportunities, contact Rick Skelding, Senior Broker Associate, at rskelding@stirlingprop.com or by phone at 504-620-8126.
Mid-City Market AFTER
Mid-City Market AFTER – Winn-Dixie and Plaza Buildings
Mid-City Market AFTER – Winn-Dixie
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 & JCH Development to Develop Magnolia Marketplace Shopping Center in New Orleans, La.
Stirling Properties and JCH Development today announced the joint venture to develop Magnolia Marketplace Shopping Center in New Orleans, Louisiana. Construction will begin with the first building in the center, a 6,000 square foot building, with a 3,000 square foot Capital One bank branch. The Central City shopping center will be located at the intersection of South Claiborne Avenue and Fourth Street, adjacent to the larger future phases of the Magnolia Marketplace Shopping Center.
“We are proud to bring a high quality development to a severely underserved portion of the Claiborne corridor and return yet another vacant and blighted property in the City to commerce”, said Jordi Goodman, Development Manager for Stirling Properties.
“Our team is excited to introduce new services and shopping experiences, in a location that is accessible to the neighborhood as well as to all of New Orleans’ residents” said Tara Hernandez, President of JCH Development.
The 6,000 square foot center will serve as a catalyst to future development along the Claiborne corridor and will precede the balance of the Magnolia Marketplace Development located at South Claiborne and Toledano Streets slated for commencement in fall of 2013. Once completed the center will be 138,000 total square feet. Stirling and JCH have secured leases for 108,000 square feet with established national retail tenants. Stirling is currently in negotiation with tenants for the remaining spaces in the center and other tenant announcements will be forthcoming.
For more information, contact Jordi Goodman at jgoodman@stirlingprop.com or 985-898-2022, or for leasing information contact Rhonda Sharkawy at rsharkawy@stirlingprop.com or 504-523-4481.
