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.
Stirling Properties to Develop Full-Service Walgreens Drugstore on New Orleans Westbank
Stirling Properties is pleased to announce the development of a new full-service Walgreens drugstore in Terrytown, Louisiana on the Westbank of New Orleans. The proposed Walgreens will be located at the intersection of Terry Parkway and Carol Sue Avenue on the site of the former A&P Grocery/Eckerd Drug anchored shopping center. The new store will be a relocation of the existing Walgreens located across Terry Parkway. “This project represents a cooperative effort between Stirling Properties and Jefferson Parish to bring back a distressed commercial property to prominence once again as a viable retail corner that will serve the people of Terrytown”, said Peter Aamodt, Vice President of Development for Stirling Properties.
The larger 17,384 square foot store will have a drive thru window and full service pharmacy and will serve as a catalyst for future development to help revitalize an aging retail corridor. Construction on the Terrytown store is slated to begin in April and open in the fourth quarter of 2013. Stirling is providing pre-development services, including lease negotiation, permitting, financing, design, as well as construction and project management.
As a preferred developer for the Walgreens Company in the Gulf South, Stirling Properties has had a long-standing relationship with the retailer. Construction is currently underway on two other Stirling Properties Walgreens developments located on Magazine Street in New Orleans, Louisiana, and on Pass Road in Gulfport, Mississippi.
For more information, contact Peter Aamodt, Vice President of Development for Stirling Properties, at paamodt@stirlingprop.com or by calling (504) 523-4481.
Stirling Properties Launches New Corporate Website www.StirlingProperties.com
COVINGTON, LA – Stirling Properties announces the launch of our newly redesigned and updated corporate website, www.StirlingProperties.com. The new website features streamlined navigation and improved functionality for a better online experience. In addition, Stirling Properties has rebranded our Facebook, Twitter and Stirling Insights blog.
New website features include:
- Quick Commercial Property Search
- Improved navigation to our core services – brokerage services, development/redevelopment, acquisitions/investments, and property/asset management
- Ability to search Our People
- Case studies highlighting the services we offer, including case studies about The Fresh Market and Pan American Life Center in New Orleans, Hammond Square in Hammond, River Chase in Covington, and Stirling Communities – Multi-Family in Baton Rouge and Lafayette
- Access to the latest news, press releases and market research
- Stay connected with easy navigation to our Social Media sites, including Facebook, Twitter and Stirling Insights blog
The new corporate website can be viewed at www.StirlingProperties.com.
Stirling Properties Hires Amy Allen as Hammond Square Property Manager
HAMMOND, LA – Stirling Properties is pleased to announce that Amy Allen is now Property Manager at Hammond Square.
Ms. Allen brings over eight years of commercial real estate background that includes a property management portfolio of over two million square feet and 17 shopping centers in the Atlanta area.
Ms. Allen started her real estate career as a Property Manager for DLC Management Corporation, where she oversaw a 1.5 million square-foot portfolio. In 2009 she joined Atlanta-based Developers Diversified Realty, where she managed over 2.5 million square feet of shopping centers.
Originally from the New Orleans area and an LSU graduate, Ms. Allen recently moved to Covington after living in the Atlanta area for nearly 10 years.
Stirling Properties to Develop Full-Service Walgreens Drugstore in Gulfport, MS
Stirling Properties is pleased to announce the development of a new full-service Walgreens drugstore in Gulfport, Mississippi. The proposed Walgreens will be located at the intersection of Pass Road and Interstate 49 at the location of the former Gulfmart Shopping Center. Stirling Properties is providing development services, including lease negotiation, financing, and project management, to a third party owner of the property.
The 13,650 square-foot store will have a drive-thru window and full service pharmacy and will serve as a catalyst for future retail development of that corridor. The Gulfport store is slated to begin construction in January and open in the third quarter of 2013.
As a preferred developer for the Walgreens Company in the Gulf South, Stirling Properties has had a long standing relationship with the retailer. “Our team has been working successfully with Walgreens for the past 10 years and has delivered over 25 stores with many more in the pipeline”, said Peter Aamodt, Vice President of Development for Stirling Properties. “Stirling is committed to finding new development opportunities for all of our retail clients in the Gulf South.”
For more information, contact Peter Aamodt, Vice President of Development for Stirling Properties, at paamodt@stirlingprop.com or by calling (504) 523-4481.
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.
