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Ochsner LSU Health – Viking Drive Celebrates Grand Opening in Bossier City, Louisiana

State-of-the-art redevelopment further underlines Stirling Properties’ expertise in healthcare real estate services.

This past week, Ochsner LSU Health Shreveport and Stirling Properties celebrated the grand opening of Ochsner LSU Health – Viking Drive in Bossier City, Louisiana.

This 25,080-square-foot Multispecialty Clinic, located at 4481 Viking Drive, features primary care, sports medicine, orthopedic and neurosurgery clinics.

In December 2020, a Stirling Properties affiliate acquired the property, which was previously a retail store, and subsequently redeveloped it into its current condition as a Multispecialty Clinic.  Stirling Properties was the project developer; WHLC was the architect; Duplantis Design Group was the Civil Engineer; and Brasfield & Gorrie was the general contractor. Total project costs were roughly $10.7 million. Ochsner LSU Health Shreveport is the sole tenant at this location and is now uniquely positioned in this market for years to come, using this facility as a springboard for future growth in the Bossier market.

The Ochsner LSU Health – Viking Drive redevelopment underlines Stirling Properties’ expertise in healthcare real estate services. “There is increased demand for healthcare real estate services. We’ve developed a team of industry experts to provide a comprehensive, holistic approach based on sound real estate fundamentals for our healthcare partners to deliver high-quality products such as Ochsner LSU Health – Viking Drive,” said Townsend Underhill, President of Development with Stirling Properties. “We are proud to help bring first-class healthcare to our local neighborhoods while also facilitating job creation, tax revenue, economic development and infrastructure improvements.”

Stirling Properties currently has over 2 million square feet of projects under development/redevelopment, totaling nearly $196 million—of which almost half is in the healthcare sector. Other notable healthcare projects include facilities management of St. Mary’s Medical Center in Shreveport; the acquisition and redevelopment of the former Louisiana Heart Hospital in Lacombe; the development of four Ochsner Kidney Care Clinics in the Greater New Orleans Area; the development of St. Tammany Cancer Center in Covington; and the development of Ochsner Medical Complex – The Grove in Baton Rouge, to name a few.

For more information on Stirling Properties’ healthcare real estate services, contact Mac Bauer, Development Director, at (504) 620-8131 / mbauer@stirlingprop.com

Stirling Properties Expands National Property Management Footprint

Awarded management contracts for three retail properties in Mississippi & Ohio.

Stirling Properties was recently awarded the property management duties for three retail properties in Mississippi and Ohio.

Kings Crossing is a 116,952-square-foot Kohl’s shadow center located at 3980 N Gloster Street in Tupelo, Mississippi. The center is 97% occupied with a lineup of national/regional tenants, including Petco, Five Guys, Five Below, Kirkland’s, Ross Dress for Less and others.

Wadsworth Crossing I & II are adjoining retail centers located at 1183 Williams Reserve Boulevard in Wadsworth, Ohio, totaling 63,328 square feet. The centers are shadow-anchored by Target, Lowe’s and Kohl’s and feature a diverse tenant mix. They are currently 95% leased, including Petco, Verizon, Beef O’Brady’s, Wayback Burgers, Mattress Firm and more.

“Stirling Properties is proud to assume the management duties of these high-performing retail properties and looks forward to working with their ownership teams to create added value for their assets. We are also excited to further grow our commercial portfolio and management services on a national level,” said Donna Smith, Executive Vice President with Stirling Properties.

Stirling Properties owns and manages 20.5 million square feet of commercial real estate across the country, including office, retail, industrial, healthcare, residential and mixed-use properties.

For property and asset management information, contact Donna Smith at (985) 246-3758 / dsmith@stirlingprop.com.

November 8, 2021|Management Services, news, Press Releases, Retail|

Stirling Properties Names Jared Lauderdale as Vice President Controller

Jared Lauderdale Vice President Controller

Stirling Properties announces that Jared Lauderdale has been promoted to Vice President Controller.

Jared previously held the position of Controller – Property Accounting, responsible for all tax matters in the company’s internally-owned portfolio. While most of his duties will remain the same, his role is also transitioning to being more involved in the business’s property operating and management accounting side.

Over the last few years, Jared has developed and executed new policies and processes to increase coordination and efficiencies throughout Stirling Properties’ accounting department. He has also implemented several new software programs to help the company perform to the best of its abilities. 

Most recently, he has been instrumental in guiding Stirling Properties through the numerous federal tax changes happening across the real estate industry, as well as employee tax credits. Also, during the COVID-19 crisis, Jared was influential in helping the company wade through the confusing and fast-changing guidelines of SBA loans and submitting multiple applications for a much-needed PPP loan.

In addition to his job roles, Jared serves on Stirling Properties’ Leadership Committee, helping to create and maintain company culture and improve internal structure between executive leaders and the team. He also volunteers for the company’s Golf and Stewardship Committees.

“We are incredibly proud of Jared for his remarkable growth and leadership within our company. He has excelled in his role and become an invaluable part of our team over the last few years. No one deserves this recognition more than him,” said Marty Mayer, President & CEO of Stirling Properties.

October 29, 2021|Blog, Corporate|

Stirling Properties Brings Target to Premier Centre in Mandeville, Louisiana

Rack Room Shoes expansion & relocation paves the way for new retail opportunities.

Stirling Properties announces the addition of Target to the tenant lineup at Premier Centre, located on U.S. Highway 190 in Mandeville, Louisiana.

Target will occupy roughly 58,000 square feet of retail space, backfilling the former Stein Mart store, as well as the adjacent space currently housing Rack Room Shoes, and an additional 13,000 square feet of new building expansion area in the rear of the building. Rack Room Shoes will expand and relocate next to Whole Foods Market in the former Forever 21 Red space. Rack Room Shoes is expected to re-open in its expanded space in the fall of 2021.

“Stirling Properties is excited to welcome Target to Premier Centre and the Mandeville community. The explosive growth of St. Tammany Parish and high retail sales make this an attractive two-store market for retailers. Target has been serving the community in Covington for many years, and this new store presents an opportunity to bring the great shopping experience to more customers in our growing market,” said Donna Smith, Executive Vice President with Stirling Properties. “The recent activity at Premier Centre has also been a catalyst for additional exciting retail opportunities that we hope to be able to announce soon.”

Rhonda Sharkawy, Senior Retail Leasing & Development Advisor with Stirling Properties, is the exclusive commercial broker for Premier Centre and worked with Target to secure the new location and the expansion and relocation of Rack Room Shoes.

Premier Centre, anchored by Whole Foods Market, is located at the corner of U.S. Hwy. 190 & N. Causeway Blvd. in Mandeville, Louisiana, on the Northshore of Lake Pontchartrain in St. Tammany Parish. It consists of approximately 273,000 square feet of retail and restaurant options and is currently 97% leased. Stirling Properties developed Premier Centre and currently manages and leases the property.

Tenants include Whole Foods Market, Bed Bath & Beyond, T.J.Maxx, Barnes & Noble, Old Navy, Rack Room Shoes, Gap/Gap Kids, American Eagle Outfitters, Banana Republic, LOFT, Bath & Body Works, Trek Bikes, Earthsavers, Blu Spero, Buckle, J.Jill, Jose Bali Jewelry, Chili’s, La Madeleine and The Big Squeezy. Electric car charging stations are also available in the parking lot near Whole Foods Market.

Stirling Properties has developed more than 24.8 million square feet of property totaling $2.2 billion, almost exclusively in Louisiana. Other Stirling Properties developments in the area include Fremaux Town Center (Slidell), River Chase (Covington), Northpark Corporate Center (Covington) and Hammond Square (Hammond), to name a few.

For leasing information, contact Rhonda Sharkawy at rsharkawy@stirlingprop.com / (504) 620-8145.

President’s Message: No More Kicking the Can

Hurricane Ida Recovery

We’re a little more than two weeks past the landfall of Hurricane Ida and slowly, slowly returning to some sense of normalcy. Yet, many are still struggling to recover. I want to thank everyone who called, texted, emailed and checked in on us over the last couple of weeks. Your outpouring of support and encouragement is very much appreciated. We extend our thoughts and prayers across the country to all those affected by this storm and the devastation it left behind.

Hurricane Ida is tied with Hurricane Laura (2020) as the strongest storm to ever hit Louisiana, with sustained winds over 150 mph, and it was the fifth-largest storm ever to hit the U.S. (in terms of category strength). Needless to say, our region sustained severe impacts from this storm—ironically, 16 years to the day after Hurricane Katrina devastated the Gulf South.

Hurricane Ida was primarily a wind event that downed power poles by epic proportions and destroyed entire electric grids, crippling our people and their recovery efforts. More than one million customers lost power. Over 30,000 power poles were downed—almost double that of Hurricane Katrina—and some electricity, internet and cellular outages will possibly continue through the end of September. To many, destruction to the power grid system, in this case, was equally as destructive as Hurricane Katrina’s floodwaters, which further highlights the weaknesses that persist in our national disaster response efforts.

As always, I am tremendously proud of the responsiveness of our Stirling Properties team. Even amid their own challenges and losses, our team stepped up to take care of each other and our properties. We’ve witnessed this many times over the past year and a half. Our team members pitched in to help those affected by Hurricane Laura in Lake Charles last year, Hurricane Sally that hit Mobile/Pensacola, and now, they have volunteered, raised funds and brought much-needed supplies to our area.

  • We were able to secure fuel tanks and distribution points to provide much-needed gasoline for generators in areas where fuel was impossible to find.
  • We kept in constant contact with our folks in impacted areas and continue to update and monitor individual circumstances. In some cases, we helped line up vendors for mitigation efforts, tree/roof damage, and other needs.
  • In addition, we assisted our healthcare partners at Ochsner New Orleans, to secure toiletries and basic needs items for their frontline staff working through the storm and the ongoing COVID-19 surge.
  • We helped Xavier University line up temporary remote educational space in our conference center at the Pan-American Life Center in New Orleans.
  • Our Mobile/Pensacola team raised and delivered over $10,000 in cash, gift cards and donated supplies to residents of lower Jefferson and Lafourche Parishes, who were hit especially hard during the storm and still do not have power restored.

On the property side, our team was equally responsive in getting on-site quickly and working to mitigate damage to our impacted properties. Some team members were first to respond or even camped out at properties to ensure their safety and continuity. One of our most severely affected properties was Westpark Self Storage in Houma. The facility still has no power and received significant wind and water damage to the building and storage units. Our team has been on-site 24/7, working with customers who have lost their personal belongings. Ironically, another property that received storm damage was one we just acquired the week before, a Pepsi Distribution Center in Livingston, LA, that incurred significant roof damage and water intrusion. Our team worked diligently to install a temporary roof, minimize damage and get the facility back in operation. Many other properties sustained minor damage, but overall, we were very fortunate.

What lessons can we learn from this? What do we take away from this type of widespread destruction? First, our infrastructure failed; and it’s not the first time. The infrastructure across our entire country is highly vulnerable to both natural and man-made disasters, like security threats. A weak infrastructure not only jeopardizes our economy and business continuity but our safety and security as a whole, as evidenced by events all over the country that are happening more and more frequently. Our businesses, financial markets, logistics systems, and even our lives rely on a solid infrastructure system. And when it fails, we all suffer.

In my opinion, it is past time to get serious and make significant investments in our infrastructure. We lag way behind other countries in this area. Our country’s infrastructure needs 20 years ago were much different than today with the advancements of power grids, broadband, water and gas. Therefore, our infrastructure support system and response efforts need also to evolve to remain relevant. In juxtaposition, the COVID-19 pandemic forced the whole country to work remotely, and we were successful in business continuity—but other natural disasters that cripple our infrastructure hinder our progress and set us back even further.

Following Hurricane Katrina, a $14 billion infrastructure investment for flood protection was made in our region, and it worked. Now, power grids and support should be a priority—not just locally but nationally. Unfortunately, upgrades to our infrastructure have been kicked down the road for far too long. I understand the hesitancy in making such large-scale decisions and spending bills; however, the political football of infrastructure investments must end.

I support the bipartisan Infrastructure Investment and Jobs Act (H.R. 3684) cosponsored by Senator Bill Cassidy (Louisiana), making substantial investments in roads, bridges, ports, airports, electric grids, water systems, broadband and coastal resiliency. This $1.2 trillion bill will significantly aid Louisiana and our current recovery efforts and help prepare others across the country for future disasters. The Senate recently passed this infrastructure bill and now goes to the House. While I understand there is another larger proposed infrastructure bill, perhaps our elected officials can meet somewhere between…and quickly. But doing nothing is no longer an option. No more kicking the can; no more political football.

I encourage you all to contact, call or write your Representative in Congress to support this vital legislation that will literally pave the way for a better, brighter future for us all.

Learn more about the Infrastructure Investment and Jobs Act (H.R. 3684).

September 15, 2021|Blog, Louisiana, President's Message|

Stirling Properties Acquires 140,000-Square-Foot Pepsi Distribution Center in Livingston, LA

Marks company’s 1st large-scale industrial acquisition.

Stirling Properties announces the acquisition of a 140,000-square-foot Pepsi Distribution Center located in Livingston, Louisiana. The sale closed on August 19th. This marks Stirling Properties’ first large-scale industrial acquisition. The company will also assume asset management duties of the property immediately.

Built in 2016, the industrial property sits on 15 acres and is strategically located along the I-12 corridor. The facility is fully occupied by PepsiCo., Inc. and serves as a logistics hub for PepsiCo brands, including Gatorade, Dasani, Frito-Lay, Starbucks, Mountain Dew and other related brands for the Greater Baton Rouge Area, Greater New Orleans Area and the Northshore regions of Southeast Louisiana.

Townsend Underhill, President of Development for Stirling Properties, will serve as the Asset Manager for the property. Beezie Landry, Justin Langlois, and Chad Rigby, with Stirling Investment Advisors (SIA), a division of Stirling Properties, handled the sales transaction. Stirling Investment Advisors specialize in investment sales of retail, multifamily, office, healthcare, and industrial properties, across the Gulf South market.

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