Stirling Acquires Beck Partners; Expands Eastern Division
Stirling is pleased to announce that it has acquired Beck Partners, one of Northwest Florida’s leading commercial real estate firms and manager of the most commercial square footage in Northwest Florida. With the acquisition, Stirling’s Pensacola office expands and adds a Tallahassee, Florida office.
Stirling’s acquisition of Beck Partners adds 30 commercial real estate professionals, over 1.5 million SF of managed commercial properties, and active brokerage in the State of Georgia.
Stirling CEO, Townsend Underhill, is enthusiastic about the acquisition. “The Beck Team is the strongest commercial real estate team in Northwest Florida. It has been a remarkably rewarding experience getting to know the Beck Team and learning about their outstanding business and culture. Beck’s lines of business and expertise align well with Stirling’s and complement our geography as we continue to grow our presence in the Gulf South. We are excited to have Justin, Stacy, Brice, and the entire organization join the Stirling Family.
Founded in 1981 by Gregg Beck, Beck Partners grew to be one of the most trusted commercial real estate firms on the Gulf Coast. Beck Partners earned local and national recognition from CoStar’s PowerBroker lists, multiple NAIOP of Northwest Florida’s Deal of the Year awards, including Justin Beck, CEO, on InWeekly’s PowerList, and more.
Justin Beck, CEO of Beck Partners, will remain with the Pensacola team as Vice President of the Florida Region, as well as Stacy Taylor, as Regional Vice President who will serve as the Pensacola/ Tallahassee Market Leader, and Brice Pelfrey as Regional Vice President of Asset Management . “We are thrilled to continue our work serving our clients along the Gulf Coast with Stirling,” says Justin Beck. “Our alignment of culture and values makes this merger exciting. Stirling’s depth of resources will provide more opportunities and better outcomes for our teams and clients.”
With this acquisition Stirling will be able to enhance its services to existing clients as well as our new Beck clients. Stirling is poised for tremendous growth throughout the region. Beck is a full service Commercial Real Estate firm specializing in Office, Industrial, Retail, Healthcare and Multi-family properties. Beck’s service offering includes Asset Management, Property Management, Commercial Leasing, Commercial Investment Sales, Development, and Commercial Advisory Services with a focus on markets in the Florida Panhandle, and Southern Alabama.
Beck Partners’ office, located at 125 W. Romana Street, Suite 800 in Downtown Pensacola will take on the Stirling brand with the acquisition. Its telephone number will remain (850) 477-7044. Any properties previously marketed and managed under the Beck Partners brand will transition to Stirling.
Stirling and Kent Design Build Announce Groundbreaking of New Corporate Headquarters at River Chase
Stirling and Kent Design Build today joined St. Tammany Corporation to announce the commencement of construction for River Chase Office II, a cutting-edge Class A office building spanning over 50,000 square feet, which will serve as the new corporate headquarters for both Stirling and Kent Design Build. This strategic move to the River Chase development reflects the companies’ commitment to growth, innovation, and investment in St. Tammany Parish.
“Relocating our corporate headquarters is a significant milestone for Stirling. St. Tammany Parish is an ideal location for our corporate headquarters, allowing us excellent connectivity to the entire Gulf South Region,” said Townsend Underhill, President & CEO of Stirling. “We are enthusiastic about the opportunities this move presents for our company and our employees. The new building not only signifies our commitment to growth but also positions us for greater achievements in the years to come.”
Stirling and Kent Design Build’s new corporate headquarters, near the intersection of Interstate 12 and LA Highway 21, was designed by Southeastern Louisiana-based architecture firm Eskew Dumez Ripple (EDR). The state-of-the-art design represents an investment of more than $20 million and will include a rooftop terrace, a reservable boardroom for the tenants of the building, and a geothermal HVAC system. The array of advantages provided by this modern workplace facility will bolster the company’s commitment to serving clients and employees.
“St. Tammany Parish is our home, and as a lifelong resident of the Northshore, witnessing the ongoing development of the market area has been truly incredible,” said Kyle Kent, President & CEO of Kent Design Build. “As our company continues to expand, we are proud to continue to invest in our community and work more closely with our partners to deliver world-class projects to the Northshore, South Louisiana, and beyond.”
Both companies have a long history of investing and doing business in St. Tammany Parish. Stirling has had an office in the community for over 40 years, and Kent Design Build has been based in St. Tammany since its founding in 1996. Together, they employ over 200 people in St. Tammany.
“Stirling and Kent Design Build have been tremendous partners for St. Tammany Parish, and they have renewed their commitment to our community with this investment,” said St. Tammany Parish President Mike Cooper. “When great companies, like Stirling and Kent Design Build, invest in St. Tammany, it not only provides quality jobs for our citizens but also boosts our nation-leading economy.”
“St. Tammany Parish has long been the destination of choice for corporate headquarters and the highly skilled talent that powers their operations,” said Chris Masingill, CEO of St. Tammany Corporation. “These two premier St. Tammany-based companies represent a cross-section of two industry sectors, real estate and construction, that are critical to our local and regional economy, and their reinvestment into our community exemplify our message that businesses can start up, scale, and stay right here on the Northshore and become incredibly successful.”
Renderings of the new facility are below. For leasing information, contact Ryan Murphy at (985) 246-3771 or rmurphy@stirlingprop.com.
Will Barrois Promoted to Vice President and Manager of the Commercial Advisory Division
Stirling is pleased to announce Will Barrois’ promotion to Vice President and Manager of the Commercial Advisory Division. Stirling’s Advisory Division features specialists in all aspects of commercial real estate, including retail, office, industrial, healthcare, and investment sales. With offices throughout the Gulf South region, our team of over 50 Advisors is equipped with in-depth industry knowledge and sophisticated market research to identify opportunities for our clients.
“Will has been an integral part of the Stirling family since 2002 when he joined as an Advisor in our Covington Office,” stated Marty Mayer, President and CEO of Stirling. “Over the years, he has displayed exemplary leadership and expertise, making him an ideal candidate to lead the division to new heights.” In 2014, Will was pivotal in expanding Stirling’s operations to the Eastern Region, serving as VP and Regional Manager for the Eastern Gulf South and qualifying broker for Mississippi, Alabama, and Florida.
Throughout his journey, Will has demonstrated his ability as an industry leader, holding multiple regional leadership positions in the International Council of Shopping Centers (ICSC), acting as a Trustee for the Alabama Center for Real Estate (ACRE), and graduating from the esteemed Leadership Alabama program, among numerous other accomplishments.
“I am incredibly honored and excited to take on the role of Vice President and Manager of the Commercial Advisory Division at Stirling,” said Will Barrois. “Having been a part of Stirling for over two decades, I have witnessed firsthand the dedication and passion that drives our team. During this period, we have grown to 8 offices, over 50 Advisors, over $2 Billion in commercial sales volume, and over 530 million square feet of commercial properties and land for sale or lease. I am committed to fostering a culture of collaboration and innovation within the division and continuing Stirling’s legacy of excellence in the commercial real estate industry.”
Stirling & Level Homes Developing Arabella at Dutchtown Townhomes in Ascension Parish
Through a joint venture with Level Homes, Stirling announces the development of Arabella at Dutchtown Townhomes in Geismar, Louisiana. This project marks Stirling’s continued strategy of, build-to-rent development.
Stirling and Level Homes recently closed on the acquisition of 7.51 acres of property and plan to develop 48 units along with a leasing office and clubhouse. The new development will consist of 3-bedroom, 2.5-bathroom high-quality, single-family townhomes expressly built for the rental market. The Architectural Studio leads the project design team, and the builder is Level Homes. Construction will begin on the first townhomes later this month, and the development is expected to be complete by the end of 2024.
Through the joint venture, Stirling will be responsible for development, horizontal land improvements, and amenities, in addition to asset management and accounting oversight of the project. Level Homes will be responsible for all vertical building improvements. BH Management will handle daily onsite management and leasing.
“The population of Ascension Parish has grown significantly over the past ten years and is projected to continue, and we believe this is an ideal product type for this market on a site that is extremely well located within the market,” said Townsend Underhill, President of Development with Stirling. “Stirling is excited to continue its commitment to deliver high quality Build to Rent communities. “
“Level Homes is excited to be a part of the Arabella development adjacent to our Belle Savanne, for-sale community. Our company has an extensive track record of developing high-quality, master-planned communities throughout Southeast Louisiana. We look forward to creating value-driven homes and a unique residential experience for the Prairieville area,” said Todd Waguespack, Managing Partner with Level Homes.
This product type is one of the fastest-growing sectors of the U.S. housing market as build-to-rent properties continue to be attractive to seniors, singles, and families alike—as it offers renters the conveniences of homeownership without the financial and maintenance burdens that come with it.
For more information on Stirling’s development services, contact John Woodard, Director of Development and Asset Management, at jwoodard@stirlingprop.com or (504) 523-4481.
Stirling Announces Additional Shareholder
Stirling is pleased to announce that effective January 1, 2023, Justin Landry will become a shareholder of Stirling Properties, LLC. Landry joins Marty Mayer, President, and CEO; Townsend Underhill, President of Development; Grady Brame, Executive Vice President; Donna Smith, Executive Vice President; and Paul Mastio, Chief Financial Officer, as part of the company’s ownership team. Justin is also being promoted to Sr. Vice President of Development and Finance.
Landry joined Stirling in 2007, where his primary focus has been to oversee the economic feasibility of Developments and Acquisitions across all of Stirling’s property types. He also manages a $1.2 billion debt portfolio of over 80 real estate loans. Justin has been responsible for the placement of a multitude of real estate debt for our clients. Since 2007, Stirling has closed nearly $3 billion of interim and permanent financings with every type of lender that operates in the Gulf South. Additionally, Justin has played a vital role in Stirling’s move into multi-family real estate.
“After graduating from LSU, Justin joined Stirling and has truly learned debt and equity markets and the Commercial Real Estate industry from the ground up. His growth as a professional and a leader has been an amazing journey. We are excited for the future of Stirling and Justin playing a significant role in our evolution”, commented Townsend Underhill.
As part of the Stirling ownership, Justin will expand his role within the Company’s Development, Finance, and Acquisition functions and help lead the company in expanding its existing business plan, growth, profitability, and strong business connections.
“Justin has proven to be an exceptional leader within Stirling and our industry. And most importantly, he embodies our core values and is a role model for others, “stated Marty Mayer.
Justin is an active member of ICSC (Innovating Commerce Serving Communities), where he has served on their Scholarship Committee and Next Generation Leadership Network. Most recently, he was chosen as Marketplace Council Director for the Southeast Region. In 2020, Mr. Landry was awarded the prestigious CRE® credential by The Counselors of Real Estate®.
Stirling Properties Announces President and CEO Marty Mayer to Retire, Townsend Underhill Named Successor
Stirling Properties announces that after 36 years of service, President and CEO Marty Mayer will retire at the end of 2023. At that time, Stirling’s current President of Development and Partner, Townsend Underhill, will assume the role of President and CEO.
Since joining Stirling in 1986 and assuming the role of President in 2002 and CEO in 2006, Mayer has led Stirling through unprecedented growth, expansion, and diversification throughout the Gulf South.
“Leading Stirling Properties over the past 20 years has been one of the greatest honors and privileges of my lifetime,” Mayer stated. “I will be leaving Stirling with tremendous pride and satisfaction but also the utmost confidence in the company’s future and the great accomplishments yet to come.”
Townsend Underhill states, “Under Marty’s leadership, Stirling has grown and established a unique and outstanding culture, and it will be my top priority to ensure it continues in our organization. Marty’s legacy will live on at Stirling for many years. Our entire Organization is grateful for Marty’s visionary leadership, and we wish him the very best in this next chapter,”
“I am both humbled and honored to be asked to lead Stirling into the future by Marty and our fellow partners,” says Townsend Underhill. Since joining Stirling in 2007 and becoming a Partner in 2012, Townsend Underhill has been involved in most every facet of Stirling while overseeing the Development and Finance divisions. In Townsend’s current role as President of Development, Stirling’s product lines have diversified beyond retail and office to include healthcare, industrial, multi-family, single-family for rent, and more. “With Townsend as CEO and the extraordinary team in place, I am excited to see to what heights he leads Stirling into the next chapter,” stated Marty Mayer.
Over the next year, Mayer and Underhill, along with Stirling’s leadership team, will work together to ensure a smooth leadership transition.
