Pan-American Life Insurance Group Renews Poydras Street Lease and Reaffirms Commitment to New Orleans
Stirling Properties and Pan-American Life Insurance Group (PALIG), a leading provider of insurance and financial services throughout the Americas, announced this morning that they have renewed the lease on their 601 Poydras Street corporate headquarters office space through 2024.
“601 Poydras has been home to Pan-American Life’s corporate headquarters since 1981,” explained José S. Suquet, Chairman of the Board, President and CEO of Pan-American Life Insurance Group. “And while our business has grown to include operations all over the Americas, New Orleans remains an essential cornerstone of our corporate identity as well as our business strategy.”
The lease renewal is a reflection of Pan-American Life’s commitment to the city in which it was founded, more than 100 years ago. “We strive to have a positive impact on all the communities that we serve and that’s especially important here in our home city whether it is by creating Louisiana based jobs through our domestic business or being a socially responsible corporate citizen,” Suquet added. “You can see through our partnerships with the Louisiana Philharmonic Orchestra; United Way; and the Hispanic Heritage Foundation, that we are dedicated to investing in the arts, education, community development and public safety thereby making significant contributions to the growth of New Orleans and the wellbeing of all its residents.”
“Pan-American Life’s renewed lease of their headquarters is further testament of the commitment they have to the City of New Orleans,” stated Marty Mayer, President and CEO of Stirling Properties. “Stirling Properties is proud to have worked with them as we continue to expand and increase the tenancy at Pan-American Life Center.”
Pan-American Life will also retain the building’s naming rights, ensuring that the Pan-American Life Center will continue to be a landmark in the Central Business District.
Stirling Properties and CBL & Associates Properties, Inc. Developing Phase II of Fremaux Town Center in Slidell, LA
Anchored by Dillard’s, Phase II is Over 70% Leased
Stirling Properties and CBL & Associates Properties, Inc. (NYSE: CBL) announced today the construction of the second phase is underway at Fremaux Town Center in Slidell, Louisiana. Site work commenced in June with a scheduled opening in October 2015. Phase II will include roughly 285,000 square feet of additional retail space and will be anchored by a 128,000 square-foot Dillard’s. Phase II is over 70% leased, including executed leases with Red Robin, Zales, Aveda and Francesca’s as well as numerous other retailer commitments to be announced as the project progresses.
“We are excited to offer additional retail and restaurant options for the region that will complement the existing mix of successful stores and restaurants at the center,” stated Townsend Underhill, Stirling Properties’ Senior Vice President of Development.
Currently 99% leased, Phase I of Fremaux Town Center opened in March of this year with approximately 350,000 square feet of retail anchored by Dick’s Sporting Goods, Michaels, T.J.Maxx, and Kohl’s. Sports Clips and Panera Bread recently opened and several other tenants are scheduled to open as follows: Payless ShoeSource and Five Guys Burgers and Fries this week, Starbucks in September, and rue21 and a 41,000 square-foot, full-service LA Fitness later this year. BJ’s Restaurant & Brewhouse recently purchased a 2.3 acre outparcel and is also now under construction with an opening scheduled in early 2015.
“Fremaux Town Center has been successful from the start due to the collection of retailers here and the ideal location,” said Michael Lebovitz, Executive Vice President of Development and Administration at CBL. “This expansion allows us to add even more great retailers to the mix.”
Located on more than 80 acres at the southwest corner of Interstate 10 and Fremaux Avenue in Slidell, Fremaux Town Center will be over 635,000 square feet upon completion. With its interstate location and high-visibility, Fremaux Town Center is expected to become a regional shopping destination.
For leasing information, please contact Ryan Pecot at 337.572.0246 or email at rpecot@stirlingprop.com; Rodney Gordon at 423.553.8704 or email at rodney_gordon@cblproperties.com or Robert Snetman at 423.490.8333 or email at robert_snetman@cblproperties.com.
Stirling Properties’ Peter Aamodt Completes New Orleans Regional Leadership Institute
Stirling Properties is pleased to announce that Peter Aamodt, Vice President of Development, is one of 41 business, civic and community leaders to complete the 2014 New Orleans Regional Leadership Institute (NORLI).
NORLI is a nine-month program designed to enhance personal leadership skills and examine issues central to the advancement of the Greater New Orleans region. “The opportunity to discuss and debate the many issues and challenges that face the Greater New Orleans Region with a diverse group of business and community leaders was tremendous,” stated Peter Aamodt, “It was an invaluable experience.”
Through a competitive application process, the class brings together business, civic, and community leaders representing all races, genders, industries, and communities in the region with a mission to promote regional collaboration by providing a forum for the exchange of diverse viewpoints and a network of relationships.
LSU Students attend ICSC RECon on Scholarship
Pictured (L-R): Justin Landry, Braden Eddy, John Woodard, Jimmy Maurin, Jeremy Lapeyrouse, Brian Brumfield, Kaylan Kuehler and Garrett Mickal
Jimmy Maurin and Roger Ogden, founders of Stirling Properties, have both always believed strongly in mentoring students interested in pursuing careers in real estate. This year, Jimmy and Roger started the 2014 Maurin Ogden LSU Real Estate Award, putting funds in a foundation with the International Council of Shopping Centers (ICSC) that will be used exclusively to better the real estate program at Louisiana State University (LSU).
Six LSU students – Braden Eddy, John Woodard, Jeremy Lapeyrouse, Brian Brumfield, Kaylan Kuehler and Garrett Mickal – were selected as the award’s inaugural recipients. The award covered their airfare, hotel and convention costs to attend the 2014 ICSC RECon in Las Vegas. At the convention, the students had numerous meetings with industry leaders, participated in business meetings at Stirling Properties’ booth, and networked with potential employers.
Justin Landry, Stirling’s Asset/Finance Manager, chaperoned the students on the trip. Justin teaches Finance 3900 (Commercial Real Estate Valuation) at LSU and all six of the students have taken his course.
Stirling Properties was happy to host the students in our booth and we wish them the best in their future endeavors.
Stirling Properties Expands Presence in Mobile, Alabama by Acquiring John Toomey & Company, Inc.
COVINGTON, LOUISIANA (MAY 13, 2014) – Stirling Properties announces the acquisition of John Toomey & Company, Inc., a commercial real estate company based in Mobile, Alabama. The acquisition of John Toomey & Company, Inc. further strengthens Stirling Properties’ presence in the Gulf South and is a critical step in Stirling’s long-term strategic growth plans.
Toomey’s current portfolio of 1.8 million square feet will be integrated into Stirling Properties’ portfolio bringing the total to 15.5 million square feet. John Toomey and his team will join Stirling Properties, with Mr. Toomey to serve as Broker/New Business Development Coordinator for the Mobile Area.
Marty Mayer, President and CEO of Stirling Properties, said, “The incredible resurgence of the Gulf Coast as the country’s Third Coast has provided growth and opportunities all along the Gulf South. We feel as though Mobile is a key component in this resurgence. To increase our regional presence, we are excited to collaborate with a company that has over 20 years’ experience and deep roots in Mobile.”
The founder of John Toomey & Company, Inc., John Toomey, believes that aligning with Stirling Properties will provide a higher caliber of service to existing and future clients. “Stirling Properties is a very strategic and forward-thinking company. The resources they offer our brokers and property owners will enable us to take our client services to a new level. I am so proud of my team and find it very gratifying that our work was noticed and appreciated by Stirling Properties.”
“This alignment reinforces Stirling Properties’ commitment to personally invest in the markets we serve and provides a strong foundation for continued growth in all facets of our company that include the development, management, brokerage and acquisition of commercial properties throughout Alabama and the Gulf South”,” stated Will Barrois, Stirling Properties Vice President/Regional Manager of Alabama and Florida.
For commercial real estate needs in Alabama, contact Stirling Properties at their Mobile office located at 182 St. Francis Street, Suite 101, or call (251) 706-6457.
Stirling Properties’ Donna Taylor Earns ICSC Designation
Stirling Properties is pleased to announce that Donna Taylor, Senior Vice President of Asset Management & New Business, has earned the International Council of Shopping Centers (ICSC) Certified Retail Property Executive (CRX) designation.
ICSC estimates that less than 10% of industry professionals have achieved this important status, setting Ms. Taylor, as well as Stirling Properties, apart from the rest. Donna joins other members of Stirling’s leadership team, Lewis Stirling, Townsend Underhill and Chris Abadie, who have obtained the CRX designation.
With over 6,000 designees in 55 countries, 800 of whom hold CRX designations, ICSC certification programs are a mark of excellence. Certifications focus on raising industry professional standards worldwide and give special recognition to shopping center professionals who demonstrate the highest levels of competency in their industry through professional education, experience, ethics, and by passing a rigorous examination.
