Stirling Properties Awarded Management of Pinnacle Nord du Lac in Covington
Stirling Properties commercial real estate company was recently awarded the facility management contract of Pinnacle Nord du Lac retail center, formerly known as Colonial Pinnacle Nord du Lac in Covington, Louisiana.
Pinnacle Nord du Lac, a regional shopping center owned by Dallas-based Cypress Equities, is located on the northeast corner of Interstate 12 and LA Highway 21. Currently, Pinnacle Nord du Lac is comprised of 327,000 square feet of existing retail space, with an additional 162,000 square feet of future retail expansion planned. The retail center is 97% leased, and anchor tenants include Kohl’s, Academy Sports + Outdoors, Hobby Lobby, and Petco, as well as multiple restaurant options. Corporate Realty handles leasing for the property.
Cypress Equities recently acquired Pinnacle Nord du Lac and is beginning construction of its Phase II to complete parking, drive-aisles, and buildings for 94,500 square feet of new lifestyle shop space that will be available in the summer of 2017. This lifestyle component will include local, regional and national fashion and restaurant selections.
“Stirling Properties is excited to take on the management duties of Pinnacle Nord du Lac and to see the property evolve. The new ownership group at Cypress Equities is very motivated, and we look forward to working with them to enhance this asset,” said Donna Taylor, SVP of Asset Management & New Business for Stirling Properties. “There is much potential here with plenty of room for future expansion. A new residential component on the neighboring property and future parish developments will also be positive contributors to the success of this center.”
Stirling Properties developed and manages the adjacent River Chase mixed-use center on the southeast corner of Interstate 12 and LA Highway 21, which houses national anchor tenants such as Target, Sam’s Club, Best Buy, Belk, JCPenney, Cost Plus World Market, Michaels, ULTA Beauty, and Regal Cinema.
Stirling Properties manages more than 17 million square feet of property, with more than 98 million square feet of property and land for sale or lease. Other notable Stirling Properties projects in the area include Premier Centre (Mandeville), Fremaux Town Center (Slidell), Hammond Square (Hammond), and Northpark Corporate Center (Covington).
For more information on Property Management/Asset Management, please contact Donna Taylor at dtaylor@stirlingprop.com or (985) 898-2022.
Stirling Properties Awarded Management Of PMAT’s 1,000,000 SF Retail Portfolio
Stirling Properties commercial real estate company has structured a new partnership with PMAT Real Estate Investments to manage the company’s growing portfolio of anchored shopping centers located across the Southeast, Sunbelt, Carolinas, Mid-Atlantic, and Midwest. This partnership will enable the complementary firms to create a scalable platform for the continued growth of both Stirling Properties and PMAT.
After disposing of approximately $200,000,000 of assets in the preceding years, the current PMAT portfolio consists of assets in Georgia, Florida, South Carolina, Tennessee, and Virginia as well as several centers in the acquisition pipeline and is well capitalized for continued growth in their target markets.
“Stirling Properties is thrilled to gain the property management contract for these centers—and to expand our portfolio and geographic footprint into new markets,” said Donna Taylor, SVP of Asset Management & New Business. “We look forward to working with PMAT Companies to enhance the asset performance and value. Our team of trusted experts is in motion working diligently to deliver optimum results for the property owners!”
“This partnership is a very good marriage for our two firms. Based in our own backyard, Stirling Properties is a trusted, best-in-class management company with significant operational expertise and an owner’s mindset,” said Kevin Kush, President of PMAT. “With Stirling Properties’ support network of talented professionals, PMAT will be able to focus on portfolio expansion and executing our value-add investment platform. After our recent dispositions and strategic partnerships, our platform is now more scalable and better capitalized for growth than ever before.”
PMAT was founded in 2003 by Robert Whelan, the former CFO of a NYSE REIT. Since that time, the company has invested in nearly 4 million square feet of anchored shopping centers with combined acquisition and disposition transaction value of over $1,000,000,000. These investments comprise an array of redevelopments of grocery-anchored centers including experience with such grocers as Publix, Kroger, Winn-Dixie, Lowes Foods, Food Lion (Delhaize), Giant (Ahold), Sweetbay, and Bravo as well as an array of national and regional tenants ranging from traditional soft goods tenants like Ross, T.J. Maxx, Marshalls, and Bealls to alternative users such as YouFit, Planet Fitness, Bargain Hunt, Paragon Theaters, Cinepolis, Jumpstreet, and Altitude Trampolines. For more information on PMAT, please contact Ben Bolz at Ben@pmat.net.
Stirling Properties currently manages more than 16 million square feet of property, with close to 114 million square feet of property and land for sale or lease.
For more information on Property Management/Asset Management, please contact Donna Taylor at dtaylor@stirlingprop.com or (985) 898-2022.
Stirling Properties Awarded Management Contract For Pine Tree Plaza In Picayune and Handsboro Square In Gulfport, Mississippi
Pine Tree Plaza
Stirling Properties commercial real estate company was recently awarded the management contract for Pine Tree Plaza in Picayune, Mississippi. Stirling Properties handles leasing opportunities for the center and will now take on daily management.
Pine Tree Plaza is a 99,080-square-foot single-story, multi-tenant, neighborhood shopping center located at the southwest corner of Memorial Boulevard and Elm Street in Pearl River County. The property is well located, approximately 60 miles northwest of Gulfport Airport, 75 miles northwest of Biloxi, and 45 miles northeast of New Orleans, and serves all of Pearl River County, as well as portions of Hancock County, St. Tammany Parish and Washington Parish.
The center is currently 100% leased with a great mix of established local and national retailers. One retail space will be available soon. Tenants include Dirt Cheap, Fred’s Super Dollar, Aaron’s, Subway, Studio Nails, Factory Connection, Tower Loans, Little Caesars, Central Financial Services, Jackson Hewitt, Curves, Golden Dragon Buffet, Burger King, and Popeyes.
Handsboro Square
Stirling Properties was also awarded the management contract for Handsboro Square in Gulfport, Mississippi. Stirling Properties handles leasing opportunities for the center and will now take on daily management.
Handsboro Square, anchored by Rouses Food Market, is a 156,544-square-foot community strip shopping center located at 1307-1355 East Pass Road in Gulfport, Mississippi. The center is well maintained with a great anchor offering ample parking and high visibility.
The retail center is currently 44% occupied and retail space is available. Tenants include Rouses Food Market, Rent-A-Center, Panda House, Wing Stop and Golden Nails Spa. Plans are underway to actively seek new tenants to further develop a variety of retail and restaurant options.
“Stirling Properties is thrilled to add these properties to our growing management portfolio, and we look forward to providing the Picayune, Gulfport and surrounding areas with great shopping and dining opportunities,’ said Charles Barclay, Stirling Properties Assistant Asset Manager.
Stirling Properties has been at the forefront of commercial real estate management, investment and development in Mississippi and the Gulf South region, and is committed to bringing quality development and retailers to the area.
Stirling Properties currently manages more than 17 million square feet of property, with close to 100 million square feet of property and land for sale or lease, almost exclusively in Louisiana. Other Stirling Properties management and development projects in Mississippi include, Commodore Plaza Shopping Center (Gulfport), Turtle Creek Shopping Center (Hattiesburg), Westland Plaza (Jackson) and Crossgates Shopping Center (Pearl), just to name a few.
For leasing or sales information for Pine Tree Plaza, contact Rhonda Sharkawy at (504) 620-8145 or rsharkawy@stirlingprop.com. For asset management information, contact Charles Barclay at (985) 898-2022 or cbarclay@stirlingprop.com.
For leasing or sales information for Handsboro Square, contact Justin Toomey at (251) 342-7229 or jbtoomey@stirlingprop.com. For asset management information, contact Charles Barclay at (985) 898-2022 or cbarclay@stirlingprop.com.
Stirling Properties Announces Largest Retail Acquisition in Company History
Stirling Properties is pleased to announce the purchase of Turtle Creek Crossing shopping center in Hattiesburg, Mississippi, on Friday January 22nd, 2016, at a purchase price of $48.1 million. Turtle Creek Crossing is the largest retail acquisition by Stirling Properties in its 40-year history.
Completed in 2007, the 295,000-square-foot shopping center is located on US Highway 98 in Hattiesburg adjacent to Turtle Creek Mall, and shares a lighted intersection with Sam’s and Walmart Supercenter. Anchor tenants include Ashley Furniture, Bed Bath & Beyond, Ross Dress for Less, Old Navy, Books-A-Million and PetSmart. Shadow anchors include Academy, Target and Kohl’s.
“Located in the markets’ dominant retail corridor, this center is very similar to several others that Stirling Properties has developed over the past 15 years,” said Jeffrey Marshall, Senior Vice President – Acquisitions/Finance with Stirling Properties. “We are confident that Turtle Creek Crossing will perform well for many years to come, and provide top-notch shopping, retail and economic opportunities to the area.”
Stirling Properties is one of the most diversified full-service commercial real estate companies in the country offering Brokerage Services, Development and Redevelopment, Acquisitions and Investments, and Property and Asset Management over a wide array of property types.
In 2010, Stirling Properties strategically focused our attention toward commercial property acquisition and creating opportunities to return-driven investors seeking to put capital into real, tangible property across the Gulf South.
“We identify assets—such as Turtle Creek Crossing—that offer stabilized current risk-adjusted returns where we can add value to improve performance. Our proven track record in acquisitions, and our in-depth understanding of market dynamics along with the positioning of assets within the market, enables us to create opportunities that others cannot,” concludes Marshall. “We are excited and optimistic—not just for Turtle Creek Crossing—but about the future growth of Hattiesburg and the entire South Mississippi region.”
For more information regarding our services, please visit us at www.stirlingproperties.com.
Stirling Properties Announces Recent Activity In South Alabama
Alabama’s 1st plaza development & new area tenants
Stirling Properties is excited to announce recent activity in the South Alabama areas of Daphne, Gulf Shores, Mobile and Orange Beach. For more information, please contact Jeff Barnes, listing broker with Stirling Properties in Mobile.
DAPHNE COMMONS (Daphne)
- Daphne Commons will be a signature development on the Eastern Shore of Baldwin County. The new shopping center will consist of approximately 27,000 square feet and construction is anticipated to start in early 2016. The initial phase of the center will feature 2 buildings. Expansion space and an out parcel will also exist.
- National tenants are in the works and will be announced soon!
WAHOO PLAZA (Gulf Shores)
- Located along Foley Beach Expressway at Highway 8, Wahoo Plaza will be Alabama’s first plaza-type development! Infrastructure and underground retention is under way with 3.77 acres available for sale/lease.
- A Shell gas station and convenience store will be included in the development.
ONE ST. LOUIS CENTRE (Mobile)
- Birmingham-based Oakworth Capital Bank is opening its first Mobile location occupying 4,700 square feet at One St. Louis Centre. The company intends to establish a full-service office, including commercial and private banking in the near future.
THE WHARF (Orange Beach)
- Stirling Properties was retained to re-evaluate and develop a revised master plan for the 65 acres of undeveloped land at The Wharf, a mixed-use waterfront development in Orange Beach.
- Stirling Properties is excited to announce new tenants to The Wharf, including Sea la vie Design, a 5,497-square-foot furniture and design studio, Orange Grove, a 1,597-square-foot gift shop and Montego’s Caribbean Cafe’ and Bar, a 9,301-square-foot waterfront restaurant, expected to open in February 2016.
- Several significant new tenant leases will be announced in the coming weeks!
Stirling Properties is located in One St. Louis Centre, 1 St. Louis Street, Suite 4100 in Mobile. For more information regarding our services, please visit us at www.stirlingproperties.com.
Stirling Unveils New Websites for Hammond Square and Pan American Life Center
Stirling Properties is excited to unveil new websites for Hammond Square in Hammond, Louisiana and Pan American Life Center in New Orleans.
