Mid-City Market – February Update
Masonry, Roofing, and Sheeting – Winn Dixie
Storefront Sheeting and Elements – Retail Building C
Since last month’s update, we have moved forward rapidly in the site and building construction at Mid-City Market in New Orleans. At Winn-Dixie, we have finished standing the exterior walls, begun sheeting the walls, have set the roof curbs, and finished installing the re-steel. We have set masonry along the rear wall on the N. Solomon Street side and plan to finish wall sheeting in the next couple of weeks.
At the former retail building we are renovating, we have completed the exterior wall sheeting, interior wall framing, and are sheeting the interior walls. We plan to finish the wall work and finish setting brick for the exterior walls in the next couple of weeks. We will be turning the building over to tenants for their interior buildouts the first week of April. The two small-shop buildings fronting Carrollton are progressing quickly as well. Over the next week, we will be finishing all of the exterior wall framing for these buildings and begin laying the retaining walls. These buildings will be turned over to tenants for their interior buildouts in May, many of these tenants have shorter build out periods. We will be delivering the Pei Wei building the last week of March to Pei Wei for their interior build out work.
Mid-City Market – January Update
Framing Walls and Slab at Winn-Dixie – 1/12/13
Steel Framing, Slab, Site Work at Retail A/B – 1/8/13
Since last month’s update, we have moved forward rapidly in the site and building construction at Mid-City Market. At Winn-Dixie, despite the rainy weather, we have poured almost all of the concrete slab for the building with the remainder to be poured this week. We have constructed two of the exterior load bearing metal stud framing walls and after the third wall is constructed, we will be erecting structural steel on the outside of the building.
At the former retail building we are renovating, we have completed the metal stud work at the perimeter entrances. We are finalizing the preparation for roof work which will be underway this month. The two small-shop buildings fronting Carrollton are progressing quickly as well. The “Retail B” building slab was poured Saturday and the “Retail A” building slab will be poured by the end of this week. Over the next two weeks the metal stud framing of the walls in both buildings will take place and be immediately followed by structural steel.
We are excited to announce that we have executed a lease with LA Nail Spa for 1,551 square feet in one of the small shop buildings. We are seeing strong leasing activity for the remaining space and are working towards opening 100% occupied, while seeking the right tenant mix for long-term success.
Stirling Properties and CBL & Associates Properties, Inc. to Develop Fremaux Town Center in Slidell, Louisiana
Development Over 70% Leased Prior to Construction Start
COVINGTON, LA and CHATTANOOGA, Tenn. – January 15, 2013 – Stirling Properties and CBL & Associates Properties, Inc. (NYSE: CBL) today announced the formation of a 35/65 joint venture to develop Fremaux Town Center in Slidell, Louisiana. Once complete, the 80+ acre site will consist of two phases. Phase I will comprise approximately 295,000 square feet with anchors including Dick’s Sporting Goods, Michaels, T.J.Maxx, and Kohl’s. Phase II will include up to 300,000 square feet of additional retail space. Construction is set to begin on Phase I in March of this year, with the grand opening scheduled for the second quarter of 2014.
“Stirling Properties is excited about our partnership with CBL & Associates Properties to develop Fremaux Town Center and believes that this joint venture brings the best possible team together to build this project,” said Stirling Properties’ Senior Vice President of Development Townsend Underhill. “We believe this site has the characteristics to become a premier retail shopping destination and we are happy to continue our long and successful history of retail development in the City of Slidell.”
“Stirling Properties has a solid reputation as a leading retail developer in southern Louisiana and we are pleased to partner with them on this project,” said Michael Lebovitz, CBL’s Executive Vice President – Development and Administration. “Fremaux Town Center is well-located and is already well leased with an outstanding retail line-up. We are looking forward to announcing additional retailers as the development progresses.”
Fremaux Town Center Phase I is currently more than 70% leased with committed retailers such as Dick’s Sporting Goods, Michaels, Kohl’s, PetSmart, T.J.Maxx, LongHorn Steakhouse, dressbarn, ULTA Beauty, Lane Bryant, Rack Room Shoes, Best Buy and Versona Accessories. Fremaux Town Center will be located on more than 80 acres at the southwest corner of Interstate 10 and Fremaux Avenue in Slidell, LA. Slidell is the largest municipality in St. Tammany Parish on the northern shore of Lake Pontchartrain near the city of New Orleans. The area has experienced significant growth following Hurricane Katrina. With its interstate location and high-visibility, Fremaux Town Center is expected to become a regional destination. Stirling will lead the development of the project and CBL and Stirling will jointly lease and market the center.
For leasing information, please contact Ryan Pecot by telephone at 337.572.0246 or by email at rpecot@stirlingprop.com.
About CBL & Associates Properties, Inc.
CBL is one of the largest and most active owners and developers of malls and shopping centers in the United States. CBL owns, holds interest in or manages 163 properties, including 95 regional malls/open-air centers. The properties are located in 27 states and total 91.8 million square feet including 9.4 million square feet of non-owned shopping centers managed for third parties. Headquartered in Chattanooga, TN, CBL has regional offices in Boston (Waltham), MA, Dallas (Irving), TX, and St. Louis, MO. Additional information can be found at cblproperties.com.
Mid-City Market – December Update
Foundation, Standing Columns, and Joist Girders at Winn-Dixie – 12/5/12
Steel Tower Elements at Building Under Renovation – 12/5/12
We have moved forward rapidly in the site and building construction at Mid-City Market in New Orleans. At Winn-Dixie, structural steel arrived on site and we have erected the standing up columns and joist girders within the interior footprint of the 53,000 square-foot building. We have completed underground plumbing and electrical work in all the areas with the steel overhead. In the next two weeks, we will be constructing the exterior load bearing metal stud framing walls and following immediately thereafter will be structural steel at the exterior. We will be completing underground plumbing and electrical work in exterior areas within two weeks, and beginning concrete pours of the slab at Winn-Dixie on December 21st.
At the existing building under renovation, we have erected the steel tower elements for the entrances of the stores which will include Office Depot, Jefferson Feed, Panera, and Pizza Hut. The changes to the rear wall and repairs for the masonry are approximately 90% completed, and within the next two weeks the front curbs for the storefronts will be poured. We have begun the prep work and plan for the repairs for the roofing and decking to be replaced as well. The two small-shop buildings fronting Carrollton are progressing quickly as well – we are progressing with the underground work, expecting structural steel on site within the next two weeks, and aim to complete the slab pours by the end of the year.
Stirling Properties Announces Sam’s Club Opening at River Chase
Stirling Properties, the developer of River Chase, announces the opening of Sam’s Club at River Chase Shopping Center, the largest open-air retail center in St. Tammany Parish. Sam’s Club opened today, Tuesday, October 30. The grand opening ceremony, led by Covington Sam’s Club Manager Chris Cuevas, featured local dignitaries and special appearances as community officials cut the ribbon to signify the club’s opening.
The new 136,000 square foot Sam’s Club is the only one in western St. Tammany and has have a fuel station and pharmacy. “Sam’s Club is a fantastic addition to the River Chase development. This state-of-the-art Sam’s Club is a great compliment to the existing tenant mix at what has now become the largest open air retail center in Louisiana,” said Stirling Properties’ Vice President of Development Townsend Underhill. “Sam’s commitment to the project and to Western St. Tammany Parish has been tremendous over the past 2 years while this deal has been in the works and we are thrilled to see them cutting the ribbon and officially joining the River Chase community.”
For more information about River Chase, contact Townsend Underhill, Vice President of Development for Stirling Properties, at tunderhill@stirlingprop.com or by phone at (985)-246-3785.
Photos from Mid-City Market Groundbreaking in New Orleans
Earlier this week, Stirling Properties commemorated the groundbreaking of Mid-City Market, the highly anticipated urban shopping center development located along the North Carrollton Avenue commercial corridor in New Orleans, Louisiana.
To commemorate the groundbreaking event Mayor Mitch Landrieu, Councilwoman Susan Guidry and Regional VP of Winn-Dixie, Joey Medina, along with Stirling Properties’ Marty Mayer, President and CEO, Lewis Stirling, Townsend Underhill, tenant representatives from the development and the Mid-City Market design and construction team of VergesRome Architects, Duplantis Design Group and Donahue Favret Contractors Inc. were in attendance.
Tenants with executed leases in the development include Office Depot, Neighborhood Pet Market by Jefferson Feed, Felipe’s Taqueria, Pinkberry Frozen Yogurt, Five Guys Burgers and Fries, and Pei Wei Asian Diner. Mid-City Market is 80% pre-leased with other tenant announcements forthcoming. Additional lease space is also available. For more information contact Chris Abadie, Vice President and Manager of Stirling Properties’ Commercial Brokerage Division, at (985) 246-3721 orcabadie@stirlingprop.com.
For more information about the development of Mid-City Market, contact Townsend Underhill at (985) 246-3785 or tunderhill@stirlingprop.com.
