Dana Inc. Celebrates Grand Opening of New Service & Assembly Center in Slidell, Louisiana
Marks another major milestone in the evolution of Stirling Properties’ development portfolio.
Dana Incorporated (NYSE: DAN) announced that it has opened the doors to its nearly 32,000-square-foot industrial facility at Fremaux Park in Slidell, Louisiana, for the repair, service, and assembly of industrial gearboxes, including the ability to custom-make gears up to 6.5 feet (2 meters).
St. Tammany Parish President Mike Cooper, Slidell Mayor Greg Cromer, Stirling Properties and St. Tammany Parish community leaders joined in the celebration with an official ribbon-cutting ceremony, followed by guided tours of the new facility.
Located in the Fremaux mixed-use development, the new service and assembly center replaces Dana’s current operations in Slidell, offering a larger footprint to meet the growing demand for industrial gearbox service, repair, and refurbishment. The company has also invested in gear grinding and hobbing equipment and skilled personnel to increase the ability to quickly turn-around gearboxes for customers.
“The additional square footage in this new facility combined with the increased ability to rapidly make gears gives Dana the capacity we need to further support our industrial gearbox customers who come to us for custom, highly engineered solutions,” said Aziz Aghili, president of Dana’s Off-Highway Drive and Motion Technologies. “Dana’s service and assembly centers provide critical support for our global customers throughout the lifecycle of their machinery, whether they’re building something completely new for a one-off application or maintaining current equipment to ensure maximum performance and uptime.”
“Just over a year ago, we broke ground on this project. It’s incredible that we’ve got a world-class manufacturing and assembly operation that has invested this amount of time, money and energy into the Slidell community. Dana has the capacity to double its workforce in the next year or so and double the size of this facility in the next 4-5 years! The world is their oyster, and we’re opening our world to them—welcome. Thank you for choosing to be a part of Slidell, investing in our community and helping to make our city the best that it can be,” said Slidell Mayor Cromer.
“On behalf of St. Tammany Parish, we welcome Dana to your new home here in Slidell. When you moved to our area, you may not have known you would grow so fast in such a short time. With an opportunity to move and expand, we’re glad you chose to stay in Slidell,” said Parish President Cooper. “I’d also like to thank the commitment of Stirling Properties and the Levis Family, for your vision of this development—Fremaux Park will help us attract not only companies like Dana but other corporate entities to our community.”
Stirling Properties served as the developer of the new Slidell facility. This project marks the company’s first ground-up industrial development, as well as the beginning of industrial expansion efforts for the Fremaux mixed-use property. Stirling Properties’ commercial advisor, Bradley Cook, also worked with Dana to identify and secure the location at the corner of Town Center Parkway and Old Spanish Trail.
“Stirling Properties is thrilled to officially welcome Dana to Fremaux Park and celebrate the grand opening of this remarkable facility,” said Townsend Underhill, President of Development with Stirling Properties. “This is a huge economic win for Slidell and the surrounding greater New Orleans region, and we are proud to have been a part of it. This new service and assembly center will be a unique operation nationally—and the property was laid out with ample opportunities to allow for future expansion. We look forward to working with Dana and having them as an anchor tenant in the Fremaux Park development.”
In addition to the Slidell facility, Dana has 26 service and assembly centers around the world that provide custom solutions for gearboxes used in a variety of applications such as mining, steel and metal, pulp and paper, power generation, food processing, marine, cement, wind power, water treatment and much more. The company employs more than 36,000 people in 33 countries across six continents.
Fremaux Park is part of the roughly 350-acre regional mixed-use development located at the southwest corner of Interstate 10 and Fremaux Avenue in Slidell, Louisiana. It includes Retreat at Fremaux Town Center luxury residential apartments, Springhill Suites by Marriott (under construction), Waypoint apartment community (under construction), Saltgrass Steak House and Dana Inc. Service & Assembly Center. The adjoining Fremaux Town Center, anchored by Dillard’s, Dick’s Sporting Goods, Kohl’s and Best Buy, includes more than 650,000 square feet of retail and restaurant options. Additional phases are forthcoming with added residential, retail, industrial and office park. Stirling Properties developed Fremaux Park and Fremaux Town Center and handles management and leasing of the property.
For leasing or sales information, contact Ryan Pécot at 337.572.0246 / rpecot@stirlingprop.com or Bradley Cook at 985.246.3720 / bcook@stirlingprop.com.
Chuckles Comedy House Coming to Oakwood Center in Gretna, Louisiana
Marks third national location for new entertainment concept.
Stirling Properties announced that Chuckles Comedy House is coming to Oakwood Center (formerly Oakwood Mall) in Gretna, Louisiana, a part of the New Orleans metropolitan area. This marks the third national location for the new-to-market entertainment concept.
Chuckles Comedy House will occupy 9,855 square feet of retail space located at 197 Westbank Expressway, adjacent to New Orleans Hamburger & Seafood Co. The company is currently finalizing construction plans and is expected to open in the fall of 2020. Chuckles Comedy House features regional and national comedians, as well as a full bar and pub-style fare. Comedians like Paul Mooney, DL Hughley, Monique, Eddie Griffin, Chris Tucker, Bruce Bruce, and more have graced its stage. Chuckles Comedy House currently operates two additional locations in Memphis, Tennessee, and Jackson, Mississippi.
“Chuckles Comedy House was created to fill a void in the entertainment industry. At Chuckles, we know comedy, we know excitement, we know a good time,” said Darvis Harvey, COO of Chuckles Comedy House, New Orleans. “We are thrilled to have the opportunity to bring our exclusive concept to the Gretna community and surrounding New Orleans area, and give the people something we all love, laughter—all year round!”
“We are excited to be able to open our third Chuckles Comedy House in Gretna, and to establish a potential flagship location for our brand here in the greater New Orleans area,” said Michael Ware, Sr., CEO & Founder of Chuckles Comedy House. “We have always had a deep, personal love for the New Orleans region—visiting many times over the years—and we look forward to finally being a part of this vibrant, fun-loving community.”
Stirling Properties’ Senior Advisor Joe Gardner, CCIM represented Chuckles Comedy House in securing the lease and serves as the company’s tenant representative broker. Joe Brown, with Brookfield Properties, represented the property owner in the transaction.
“Stirling Properties is excited to welcome Chuckles Comedy House—the first of its kind in our area—to Oakwood Center and the Gretna community. Today’s consumers want entertainment and unique experiences, and we are confident this innovative concept will be a welcomed and successful addition to the greater New Orleans region, and will greatly complement the surrounding retail and restaurant establishments,” said Gardner.
Oakwood Center is a 907,145-square-foot shopping center located at the foot of the Crescent City Connection, which links the West Bank to downtown New Orleans and the historic French Quarter. The center offers a dynamic shopping experience, with a retail lineup including department stores such as Dillard’s and JCPenney alongside ALDO, Bath & Body Works, H&M, ULTA BEAUTY and more than 80 other retail and restaurant options, as well as a 380-seat foot court and children’s soft play area.
Ownership Change for Froogel’s Cost+Foods at Westland Plaza in Jackson, Mississippi
Stirling Properties announces the ownership change for Froogel’s Cost+Foods at Westland Plaza retail center in Jackson, Mississippi. Robert’s Company, Inc., a grocery operator headquartered in Hattiesburg, Mississippi, has acquired the grocery store, as well as 3 other McDade’s/Froogel’s in the Jackson Metro area. The ownership change was effective January 27, 2020. Froogel’s will close for approximately two weeks in order to change out equipment and re-tag inventory, with all current employees being involved in the transition. The store will also be rebranded to Grocery Depot.
Robert’s Company, Inc. owns 16 stores in south Central Mississippi, including Grocery Depot, a discount grocer, Sunflower, and Corner Market.
“Stirling Properties is excited to welcome Robert’s Company as the new grocery operator at Westland Plaza, and to the west Jackson community,” said Donna Smith, Executive Vice President with Stirling Properties. “Westland Plaza has always had a grocery store to serve the local community, and we look forward to working with Robert’s Company during this transition—and what we are confident will be a successful location for them. This community has and will continue to support the merchants of Westland Plaza, and takes pride in its unique mix of retailers that fulfill the needs of those in the area.”
Westland Plaza, anchored by Froogel’s Cost+Foods and Walgreens, is a 221,500-square-foot retail center located at the intersection of Ellis Avenue and Robinson Road in Jackson, Mississippi, the largest metro area in the state. Originally constructed in the late 1950s and renovated in 2009, Westland Plaza remains at the heart of west Jackson and continues to serve the shopping needs of the community as a truly convenient location. Its diverse mix of local, regional and national retailers and service operators include Planet Fitness, United States Post Office, Kool Smiles, Aaron’s, Cato-It’s Fashion Metro, Rainbow, Family Dollar, City Gear, Hibbett Sports, Rent-A-Center, Goldstar Beauty Supply, Chopsticks Buffet, Trustmark Bank, Baskin-Robbins, MetroPCS, Boost Mobile, and many more! Stirling Properties serves as the Asset Manager of the property and handles day-to-day management.
For leasing information at Westland Plaza, contact Allen Carr with Overby Commercial at 601-366-8511.
Construction Nearing Completion for Redevelopment at Hammond Square
Former Sears and Rite Aid stores transformed into multi-tenant retail space.
Stirling Properties commercial real estate company is nearing completion on the redevelopment project at Hammond Square shopping center in Hammond, Louisiana. Demolition of the former Sears and Rite Aid buildings was completed earlier this year to make way for the $15 million multi-tenant retail redevelopment project.
This summer, the company announced that Michaels, HomeGoods, Five Below and PetSmart would be constructed on the former Sears parcel. Walk On’s Bistreaux & Bar has also recently announced its intention to join the tenant lineup with a projected opening in late summer of 2020. Constructions of the new space is underway and expected to be completed in the first quarter of 2020, with the retail tenants anticipated to open in the second quarter of 2020. Hammond Square is also developing a two-tenant outparcel building in front of the former Rite Aid that will be occupied by Five Guys and Chipotle. This building is also expected to be completed in the summer of 2020.
Rhonda Sharkawy, Senior Retail Leasing & Development Advisor with Stirling Properties, handled the lease transactions on behalf of the landlord.
“Stirling Properties is excited to welcome these first-class retailers to Hammond Square. They are all new to the Hammond market, and we are confident they will be extremely well-received by the surrounding Tangipahoa community. They complement our existing tenant mix perfectly—even further positioning Hammond Square as a leading shopping destination in the region. We look forward to adding even more great retailers to the center soon,” said Grady Brame, Executive Vice President with Stirling Properties.
Hammond Square is Tangipahoa Parish’s premier shopping destination, located on approximately 100 acres at the northwest corner of Interstate 12 and US Highway 51 Business (SW Railroad Avenue) in Hammond, Louisiana. It is the 2nd largest open-air center in Louisiana encompassing over 902,000-square-feet of more than 40 national and local retailers, shops and restaurants, including Dillard’s, Target, The Home Depot, JCPenney, Academy Sports+Outdoors, Best Buy, T.J.Maxx, ULTA Beauty, Books-A-Million and AMC Theatres. Stirling Properties redeveloped Hammond Square and currently manages and leases the center.
For more information on Hammond Square, visit www.hammondsquare.com or facebook.com/hammondsquare. For leasing and sales information, contact Rhonda Sharkawy at (504) 620-8145 or rsharkawy@stirlingprop.com.
Stirling Properties Brokers Sale of 38,443-SF Former Bassett Home Furnishings Building in Gulfport, MS
Stirling Properties recently brokered the sale of the 38,443-square-foot former Bassett Home Furnishings building located on 1526 E. Pass Road in Gulfport, Mississippi. The retail/warehouse building sits on 3.3 acres of land adjacent to the new Rouses Market.
The buyer was Lagniappe Construction, a national senior living construction company, who plans to utilize the facility for its home office staff, training, and regional material logistics.
Bassett Home Furnishings closed this location in June of 2019 after 15 years in business, and the building was placed on the market for sale.
Melissa Warren, CCIM, Senior Advisor with Stirling Properties, represented the seller on the sale of the property. Stephanie Schmitt, with Century 21, worked with the buyer.
Why is it important to have Buyer/Tenant Representation?
Your business is growing, and you need more space. Maybe you’re planning to expand into a new market. Perhaps you’re an investor looking to build your portfolio. Regardless of the scenario, if you’re considering buying or leasing commercial real estate, you will be faced with the same challenges: Finding the right location, negotiating a fair deal, and creating opportunity for future growth.
A listing or landlord broker has a fiduciary duty to their client (landlord/seller). Their job is filling available space as quickly and as profitably as possible. Due to that relationship, the buyer/tenant may not be fairly represented without their own broker, someone whose focus is on getting them the best deal and the best property for their needs. This three-part series will explain why it is in the best interest of a buyer/tenant to hire a broker to represent them in a transaction.
The best part is that the buyer/tenant can get fair representation with little to no cost!
Part 1: Buyer/Tenant Representation Broker
Real estate is a complicated business with many industry-specific terms, legal details and marketing intricacies, making it difficult for someone not actively involved with it to know where to begin. Hiring a tenant representation broker will give you the best opportunity to find the perfect space with fair lease terms.
1. The Call
You call the number on the “For Lease or Sale” sign, but you never get a callback. Landlords and sellers are busy people and often hire a listing broker. Both are more accustomed to working with other brokers.
Hiring a buyer/tenant rep can help solve this problem in two ways:
- A buyer/tenant rep has the backing and reputation of the brokerage firm they work for, which gives them more authority when making calls.
- The buyer/tenant rep likely has a professional relationship with the listing broker.
2. Not all properties are listed in one place
Looking through listings online can be difficult if the information is outdated or incomplete. A tenant rep has numerous resources to solve these issues and find the best option for you.
Commercial real estate brokers have access to the most accurate listing databases for the market. With the professional relationship tenant reps have with other brokers, it allows them to easily get updated information on available properties. Tenant reps also know of opportunities that are not yet on the market but will be available soon.
3. Finding the ideal space or investment
It is imperative to assess your needs when beginning the selection process. Buyer/tenant reps will ask you the necessary questions to analyze and determine your exact needs. Tenant reps can provide valuable insight into what your space requirements are and what amenities would benefit your business the most.
Questions to consider for tenants:
- Is your company growing? What is your projected growth?
- How does your office utilize space? Private offices, open floor plan, collaborative space?
A few questions for investors:
- In what product type do you want to invest in?
- Are you looking for a value-add opportunity or a stabilized asset?
- What type of return do you anticipate?
For tenants, deciding where your business should be located is one of the most crucial decisions you will make during the search process. A tenant rep has the experience and market knowledge to help answer questions you may have about different locations and market areas.
A few factors with location needs:
- Can the office be found easily? Is it easily accessible from major thoroughfares?
- What is the commute time for employees?
4. The Negotiation
The landlord or seller can quote you any rate or terms, and you have no way of knowing if that is the market standard beforehand. The buyer/tenant rep adds value to the negotiation process by knowing what economic and non-economic factors are common in the market. They will also walk you through the process and explain various items to you.
5. Should you even lease?
Sometimes leasing space may not be the best option for you. Purchasing a building may pay off in the long run, or coworking space can give you the flexibility of not being in a long-term lease. Depending on the market conditions and your company needs, purchasing real estate can be more cost-effective than leasing it. A tenant rep can help you define your needs and decide if purchasing or leasing is the best option for you.
Often, tenant reps uncover needs that business owners didn’t even realize, helping to ensure that a property is truly a perfect fit for the client.
Most importantly, your focus needs to be on running your business. A tenant representation broker takes the weight of the real estate process off your shoulders. Time is money; hiring a tenant rep broker can help you spend that time focusing on your business.
Look for Part 2: Why Signing a Buyer/Tenant Representation Agreement is Important
For questions about your commercial real estate or brokerage representation, contact Foster Murphy at fmurphy@stirlingprop.com or (225) 329-0282.
Stirling acquires our fifth building at United Plaza Office Park! […]
