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Stirling Properties Welcomes Angela McArthur to its Mobile, AL Team

Angela McArthurStirling Properties is pleased to announce the addition of Angela McArthur to the Commercial Brokerage Division as Sales and Leasing Executive. Mrs. McArthur will work from the company’s Mobile, Alabama office located at 1110 Montlimar Drive, Suite 830.

Mrs. McArthur brings with her over 25 years of experience in Commercial Real Estate. Prior to joining Stirling Properties, Angela was with Prudential Cooper & Company in Mobile, Alabama. Through the years, she has represented a wide range of local, regional and national clients and has developed an expertise in the areas of retail site selection and acquisition, sales and leasing, property management, buyer/tenant representation and corporate leasing services.

Angela can be reached at 251-342-7229 or via email at amcarthur@stirlingprop.com.

November 6, 2014|Agents, Alabama, Commercial, Corporate, news, Press Releases|

Stirling Properties’ Beezie Landry Closes on Sale of Five Investment Properties in September

Stirling Properties’ Beezie Landry, Senior Sales and Leasing Executive, closed on the sale of five investment properties in September totaling over $38 million. In each of these transactions, Mr. Landry represented the Seller.

Two single tenant Rouses Markets
2851 Belle Chasse Highway, Gretna, LA– 57,644 SF
Buyer: Rouses Market
Seller: Private New York based investor

50 Park Place, Covington, LA – 57,206 SF
Buyer: Rouse / Kingsmill, L.L.C.
Seller: Private New York based investor

Westwood Village
Southwest Corner of West Congress Street and Bertrand Drive, Lafayette, LA– 138,034 SF
Co-Listed with Charles Cornay, Senior Sales Executive for Stirling Properties
Multi-tenant grocery anchored shopping center
Anchor Tenants: Rouses Market, CVS, and Stage
Buyer: Private Lafayette based investor completing a 1031 exchange
Seller: Weingarten Realty Investors

Single Tenant Walgreens
2001 Carol Sue Avenue, Gretna, LA– 17,238 SF
Developed and sold by Stirling Properties
Brand new 25 year deal
Sold at a cap rate of 5.55%
Executed contract to closing was only 26 days
Buyer: Realty Income Corporation
Seller: Private Investor Group led by Stirling Properties

Winn Dixie
804 West Oak Street, Amite, LA– 49,771 SF
Winn Dixie recently renewed lease for 10 years
Executed contract to closing was only 22 days
Buyer: American Realty Capital Properties
Seller: Southland-Amite WD (a Chicago based investor)

“Year to date Beezie has closed on approximately $60 million in Investment Sales representing both Buyers and Sellers,” stated Chris Abadie, Vice President and Manager of Commercial Brokerage at Stirling Properties. “The clients he has represented have been publicly traded REITs as well as private investor groups on deals that include single tenant, ground leases and multi-tenant grocery anchored shopping centers.”

Investment sales is a linchpin to our brokerage division. Whether it’s achieving the goals of a buyer or seller, Stirling can meet your needs. Our professionals are versed in asset dispositions whether the property is income-producing, distressed, vacant or REO. From institutional investors to private investors, we help buyers find and secure assets that have opportunities for added value and improved performance, or assets with stabilized risk-adjusted returns.

For more information regarding Investment Sales, contact Beezie Landry blandry@stirlingprop.com or 985-898-2022.

Property Management, Information Technology and the New Paradigm

Property Management IT

Used to be that technology was an afterthought, if it was a thought at all, when it came to property management.  No one thought twice about putting file servers, telephone systems, sharing the office Wi-Fi with the public and having each management office a self-contained island unto itself.  We’re long past the days, when we could put a desktop at a managed property office and simply forget that the computer was there until the computer died or a user complained.  While the most important element of property management is still the right property manager, with the advent of Internet-connected building automation, Voice Over IP (VOIP), cloud offerings, server virtualization, software as a service (SaaS), desktop as a service (DaaS) and the well-publicized complete lack of security on the Internet, it’s time to pay attention to how property management offices are utilizing technology, how the offices are secured and how we are maintaining the infrastructure.

Here at Stirling we’ve taken over a lot of management contracts in the last few years and the thing that strikes us from the IT-perspective is how little attention has been paid to the automation and the office systems.  Even from the large, national property service companies, we’ve seen file servers and desktops systems at managed properties that are past end-of-life such that the manufacturers are no longer providing security updates.  We’ve seen automation systems, directly connected to the Internet with no firewall and still running default system credentials, leaving not only that system, but the entire office vulnerable to attack.  Accounting or Point of Sale Systems on the same network as the HVAC or Automation Systems without network segmentation or firewalls is simply asking for trouble.

While other industries have been quick to embrace technology, it sometimes seems that Commercial Real Estate as an Industry has gotten a half-step or two behind where we need to be in maintaining our technology.  Overhauling systems doesn’t necessarily have to be a large expense.  In a lot of cases, the savings from removing the maintenance costs associated with outdated systems will go a long way towards modernizing and securing your infrastructure.  Just as everyone knows and can do the calculation on a commercial real estate’s return on investment, there’s also a return or a savings with Information Technology deployed and maintained correctly.

  •  Still have an outdated DSL connection to the Internet?  Fiber has proliferated in the last couple of years.  Look at dedicated bandwidth with a Next Generation Firewall.
  • Sharing your Internet with the public?  Stop!  Or at the very least, make sure your management office network is segmented to protect your critical systems.
  • Same with automation.  If your HVAC, access card or automation systems are connected to the Internet, change the default credentials and segment away from your office computers.
  • Are your servers on the same network as your Wi-Fi?  Segment and firewall the network so if your Wi-Fi gets hacked, they don’t have a clear path to the rest of your equipment.
  • Still running Windows Server 2000 or 2003?  Server 2000 was retired on July 13, 2010 and Server 2003 is ending on July 14, 2015 which means no security patches and a huge vulnerability for you.  It’s time to ditch the server and connect to your back office virtually.
  • Still have a Windows XP computer or a POS with embedded Windows XP?  XP’s end of life was April 8, 2014, leaving your systems vulnerable.  It’s time to upgrade your systems or virtualize your desktops.
  • Still have an analog telephone system with roll over lines?  With dedicated bandwidth and quality of service, you can take advantage of Voice Over IP – sometimes at a substantial savings to what you’re paying for your system now.
  • Do you have separate banking computer that you use only for banking?  Absolutely no general Internet surfing?  Might want to consider dedicating a computer to banking.
  • Are you setup with Positive Pay with your bank?  This is an important first step.
  • Still using an old POP service for email?  It’s time to switch to an Exchange-style email system.  Setup with your management company or contract online for hosted Exchange or Zimbra email.

Contracting with a property services firm that has a dedicated technology staff makes your life easier and allows you to take advantage of the economies of scale inherent in that relationship, but if you have the time and the wherewithal to work through the vulnerabilities, you can go a long way to securing your systems and leveraging technology for the value it will bring to your property.

October 8, 2014|Blog, Corporate, Management Services|

President’s Message: A Championship Season

With the coming of Fall (hopefully soon) and the kickoff of a brand new football season filled with lofty expectations, excitement is in the air.

Let’s cheer our economic environment – our region remains strong and the nation continues to notice.  Just last week, Louisiana was recognized again by a national publication – this time ranking #1 for Best Business Climate in the United States on Business Facilities’ annual Rankings Report, with Alabama rounding out the Top 10.  According to the article, “if natural gas, gumbo and Mardi Gras are the only things that come to mind when you think about Louisiana, think again.  Name a growth sector – digital media, advanced manufacturing, IT/software – and Louisiana has a specific program geared to welcome new players, with a proven track record of successful startups.”

Perhaps even more impressive, the same magazine’s annual Metro Rankings Report placed Baton Rouge #2, Mobile #3 and New Orleans #5 for Economic Growth Potential – three cities along the booming Gulf Coast in the Top 5, and all are cities where Stirling Properties is actively engaged.  Other metro markets in our region are expanding as well – namely Lake Charles, Lafayette, Houma/Thibodaux and Shreveport/Bossier City.

Since my last President’s Message, Stirling too has continued to expand and grow in all of these markets.  Our recent efforts include the acquisition of John Toomey & Company in Mobile, commencement of Phase II of Fremaux Town Center in Slidell and the addition of Sam’s Club to Stirling Bossier Shopping Center in Bossier City.  We also have in the pipeline two new retail developments in Lake Charles and Lafayette, and we are actively involved in a number of other exciting initiatives.

Our new projects and growth, positive national rankings for our region and the upcoming football season are all certainly creating a buzz of excitement around here…let’s add football champions to the growing list!

August 19, 2014|Blog, Corporate, President's Message|

Stirling Properties Supports Lafayettte Foundation on Aging’s Adopt-a-Senior Program

Adopt a Senior

Barbara Meaux and Carolyn Ciarrocchi from our Lafayette office present donation to Larry Baker of the Lafayette Foundation on Aging

Stirling Properties is happy to support the Adopt-a-Senior program of the Lafayette Foundation on Aging.  Stirling’s contribution will ensure that a senior will receive a home-delivered meal for a year and it is a good feeling to know how our contribution will directly help someone in our community.

The Lafayette Foundation on Aging works to provide daily home-delivered meals to at risk, homebound senior citizens.  Their Adopt-a-Senior program provides a large portion of those meals.  Last year, 117,300 meals were delivered to seniors who can no longer cook for themselves.

There are over 450 seniors on their waiting list for meals, so there is still a great need.  You too can help the Foundation continue its meal delivering mission through the Adopt-a-Senior program.  To make a contribution, send a check to the Lafayette Foundation on Aging, Inc., 160 Industrial Parkway, Lafayette, LA 70508.  For more information, contact Larry Baker at 337-262-5990.

Click here to learn more about Stirling’s Charitable Giving.

July 16, 2014|Blog, Lafayette, Stewardship|

2nd Annual Stirling Olympics Raises Over $30,000!

This past Friday, employees and agents from all offices gathered for the 2nd Annual Stirling Properties Olympics, an event hosted by the Stirling Stewardship Committee to raise money for charitable causes.  The event was a HUGE SUCCESS, raising over $33,000! Employees and agents divided into 10 teams with each team choosing their team name, colors, flag, and song. Charities were voted on prior to the event, with St. Jude Children’s Research Hospital and The Disposable Heroes Project chosen as recipients of this year’s donations. Teams raised over $33,000 through personal donations and attaining sponsors. Teams were able to earn points the week leading up to the Olympics by correctly answering Stirling Trivia questions. On the day of the Olympics, teams competed in 10 events – Swim Tube/Goggles Relay, Egg Relay, Blind Basketball, Rubber Chicken Toss, Bean Bag Toss, Puzzle Relay, Obstacle Texting Race, Bowling, Hula Hoop Contest, and Tricycle and Bouncy Ball Relay. Scores were tallied at the end of the day and medals were given for each event and the top overall teams. Events were judged by Jamey Flegal (CBL & Associates Properties), Tara Hernandez (JCH Development), Will Boudreaux (Netchex), Jeanne Wallace (Wright & Percy), Tommy Buckel (Duplantis Design Group), and Steven Serio (Fishman Haygood Phelps Walmsley Willis & Swanson, LLP). The Gold Medal overall went to Mr. T and the McFlys…congratulations to Townsend Underhill, Sharon Amacker, Jessica Zeringue, Ellen McCain, Amanda Pfeil, Kelly Wellmeyer, Robert Dischler, Ryan Murphy, Dinah Rawls, and John Woodard. Congratulations also to Paul Mastio, Kristy Beach, Tracy Gandy, Lindsey Palmer, Cyndie Quave, Melissa Serpas, Dick Cyr, Jill Meeks, and Donna Allsup of Mastio’s Minions who earned the Silver Medal.  Chris Abadie, Melinda Brazzel, Glinda Erler, Hazel Fischer, Brittany Orr, Valerie Sterkx, Joe Gardner, Justin Landry, Ashley Hosey, and John Hayes of Brewskies and a Six Pack took home the Bronze Medal. At the end of the day, in an effort to raise even more money, the ownership team volunteered to be “slimed”, but employees and agents had to outbid them for the right to drench them in the green slime.  Employees were obviously motivated to slime the owners as over $6,000 was collected toward the overall total. One owner was outbid and employees paid $1,300 to see him slimed! A special thanks to the Stirling Stewardship Committee for all their hard work on organizing the event and making it happen.  A fun day was had by all and we look forward to more events like this in the future!    

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