Retail Market Survey: Shreveport-Bossier City, LA
Stirling Properties releases its Shreveport-Bossier City Retail Market Survey for mid-year 2018.
According to the assessment—compiled by Stacy Odom and Karen McElroy, Broker Associates with Stirling Properties—the Shreveport–Bossier City retail sector is currently in the midst of a recovery phase. After experiencing a period of increased retail vacancy, the area is seeing the entry of new discount retailers, new-to-market retailers and food concepts, as well as multi-store operators gobbling up available inventory of second-generation space. Without notable new development in the market, this aids in decreasing vacancy rates, particularly among neighborhood shopping centers.
The retail market survey identified a total of fifty-seven (57) multi-tenant retail centers with a minimum of twenty thousand (20,000) square feet in Shreveport-Bossier City with 90% total occupancy as of mid-year 2018.
Looking to the future, the emergence of healthcare facilities in retail settings and the potential for mixed-use redevelopment projects backfilling big-box stores are both noteworthy national trends expected to influence the Shreveport-Bossier City market, possibly having an additional impact on retail space moving forward.
Click here to view and download the complete Shreveport-Bossier City Retail Market Survey.
This report is intended to give the reader a broad understanding of the market as well as specific information about the available square footage, occupancy and rental rates of each retail center greater than twenty thousand (20,000) square feet. It was created to be a resource for agents as well as tenants, landlords, developers, lenders, fellow brokers and anyone else looking for information about the Shreveport-Bossier City retail market.
Stirling Properties Expands Management Portfolio
Stirling Properties commercial real estate company has assumed the property management duties of Waterside Marketplace in Chesterfield Township, Michigan, as part of an ongoing partnership with PMAT Real Estate Investments.
Stirling Properties partnered with New Orleans-based PMAT to manage the company’s growing portfolio of shopping centers located across the Southeast, Sunbelt, Carolinas, Mid-Atlantic, and Midwest.
PMAT recently acquired Waterside Marketplace, a 291,231-square-foot retail center located at 50753 Waterside Drive in Chesterfield Township (Detroit MSA), at the southwest intersection of 23 Mile Road and Interstate 94. The multi-anchored center is 94% leased with a great mix of national tenants including Dick’s Sporting Goods, Best Buy, T.J.Maxx, Bed Bath & Beyond, ULTA Beauty, JOANN Fabrics & Crafts, and Old Navy. The center is also shadow-anchored by JCPenney and Lowe’s Home Improvement. Waterside Marketplace is the dominant regional shopping center within the growing Chesterfield Township trade area.
“Stirling Properties is pleased to welcome Waterside Marketplace to our growing management portfolio. This is a leading retail center that serves a large portion of Detroit’s suburban area around Chesterfield Township and performs very well in the market,” said Donna Taylor, Sr. Vice President of Asset Management & New Business with Stirling Properties. “We look forward to working with PMAT on the management and operations of the center to enhance it even more.”
Stirling Properties owns and manages more than 20 million square feet of commercial real estate, including office, retail, industrial, medical, residential, and mixed-use properties.
For asset management information, contact Donna Taylor at (985) 246-3758 or dtaylor@stirlingprop.com.
5.11 by Karl Malone coming to Metairie, Louisiana
“The Mailman” delivering purpose-built apparel and gear to local market.
5.11 by Karl Malone in Ruston, Louisiana
Stirling Properties commercial real estate company announced that 5.11 by Karl Malone retail store is coming to Lafreniere Plaza Shopping Center in Metairie, Louisiana. This is the second Louisiana retail location for the company.
5.11 by Karl Malone will offer men’s and women’s apparel and clothing, footwear, bags and packs, accessories, and professional gear by 5.11 Tactical, the world’s leading innovator of purpose-built gear. The global brand features superior tactical apparel and gear for law enforcement, first responders, tactical operators and recreational enthusiasts from head to toe.
NBA Hall-of-Famer Karl “The Mailman” Malone will operate the Metairie location. The store will encompass 5,070 square feet of retail space at 6601 Veterans Memorial Boulevard and plans to open by January of 2019. Malone also operates the only other Louisiana franchise in Ruston that opened late last year.
“We are excited to bring 5.11 purpose-built gear to the Metairie market and surrounding New Orleans area,” said Malone. “The 5.11 brand is built on the foundation of durability, quality and value. Our store will be well stocked with the perfect performance clothing and accessories for any professional or recreational mission.”
The FBI training academy adopted the original 5.11® pant as its training pant in 1992, forging a decades-long relationship that drives 5.11®’s commitment to public safety and the first responder community. The company began developing a more extensive law enforcement line in 2003 working with public safety professionals to create gear that meets the needs of real people in the field. In 2012, 5.11 expanded its women’s collection to include premium uniforms, covert clothing, fitness apparel and more. Today, 5.11® is expanding into the outdoor and fitness markets with products like the Vaporlite short and the ABR trainer.
Carly Plotkin, Sales and Leasing Executive with Stirling Properties, is the listing agent for Lafreniere Plaza Shopping Center. Karla Smith of CBRE represented 5.11 by Karl Malone in the lease transaction. The retailer will join co-tenants HomeGoods, T.J.Maxx, Sandro’s Trattoria, State Farm, Subway, Pickleberry Kids, and several others in the center.
For leasing information, contact Carly Plotkin at cplotkin@stirlingprop.com or (504) 620-8120.
Loft18 Coming to The Shops at Sawyer Yards in Houston, Texas
Stirling Properties serving as brokerage tenant rep in company expansion.
Loft18 Rendering
Stirling Properties commercial real estate company is pleased to announce that Loft18 indoor golf and entertainment complex is joining the tenant lineup at The Shops at Sawyer Yards in Houston, TX. Stirling Properties is serving as the brokerage representative for the company in its national expansion efforts.
Loft18, founded in New Orleans, Louisiana, is an innovative, interactive golf concept featuring custom-built, state-of-the-art Full Swing Golf simulators that showcase nearly 100 championship courses to deliver precision play at its finest for golfers of all experience levels. And for non-golfers, Loft18’s full-service bar and restaurant offers gastro-pub fare, craft beer and cocktails, and New Orleans’ famous service and hospitality.
This marks the second retail location for Loft18. It will occupy approximately 6,950 square feet of space located at 2313 Edwards Street on the western endcap of The Shops at Sawyer Yards. Buildout is underway, and it is expected to open in the summer of 2019.
The Shops at Sawyer Yards is a 40,000-square-foot urban redevelopment project located at the corner of Edwards and Sawyer Streets, in the heart of the Washington Avenue Arts District. The Shops at Sawyer Yards features creative office space, retail, and entertainment spaces for lease. Other tenants in the project include Sticky Chicken, Awesome Bites, Pokeology, Bayou City Smiles, Polish Parker & Roe, Local Pho, Poitín, Satori Salon, and Orangetheory Fitness.
Sawyer Yards in Houston, Texas
“After researching and scouting various locations, we decided to expand the Loft18 concept to The Shops at Sawyer Yards because of the unique property offerings and access to the growing local population,” said Greg Whitman, President/Owner of Loft18. “We are excited to open our doors next summer and to deliver the ultimate indoor golfing experience—complete with award-winning golf simulators and club-level dining and drinking—to the Houston area. Whether you like golf or not, you will have a good time at Loft18.”
The Loft18 concept came about four years ago by three long-time friends with backgrounds in hospitality, sales and entertainment and a fervent love for the game. Seeing a niche in the golf entertainment industry, the group opened its first location on Metairie Road in Metairie, Louisiana, a suburb of New Orleans last fall.
Now, the company is planning expansion in several major markets across the country, as well as developing external partnership opportunities in other areas such as Dallas, Nashville, Chicago and Atlanta to name a few.
Lauren Ryan and Thomas Bryan, Sales and Leasing Executives with Stirling Properties, represented Loft18 in securing the historic Houston location, along with Bruce Wallace and Radkey Jolink with CBRE out of Houston, TX.
“Stirling Properties is thrilled to represent Loft18 in their expansion efforts, and to help facilitate the process of identifying and establishing relationships with co-brokers in other markets to scout out the ideal locations for this exceptional company,” said Ryan. “Loft18 was the first locally-owned golf simulation and entertainment complex in the New Orleans area, and they are setting the course for a unique entertainment experience that will be highly successful in any market.”
For leasing information, please contact Lauren Ryan at lryan@stirlingprop.com / (504) 620-8124 or Thomas Bryan at tbryan@stirlingprop.com / (504) 620-8138.
Club 4 Fitness Expanding in the Gulf South
Image www.club4fitness.com
Stirling Properties is pleased to announce that Club4Fitness, an all-inclusive fitness facility, is expanding in the Gulf South market with the addition of four new locations in Alabama and Louisiana. Justin Toomey, Broker Associate with Stirling Properties, and Kenneth Herring, broker with Kerioth Corporation worked with The Club to identify and secure the latest retail locations:
- The Club will occupy 20,000 square feet of retail space in Hillcrest Plaza located at 813 Hillcrest Road in Mobile, AL. Club 4 plans to open this facility first quarter of 2019. Cummings and Associates, Inc. represented the property owner in the lease transaction.
- In addition, the company is leasing 29,696 square feet of space in Schillinger Place located at 2502 South Schillinger Road in Mobile, AL. Angie McArthur with Stirling Properties represented the landlord in the transaction. Club 4 plans to open this facility in the first quarter of 2019.
- In Louisiana, The Club has recently secured a 27,805-square-foot retail space in Caffery Center located at 4510 Ambassador Caffery Parkway in Lafayette. Jarrett Adame with Realm Realty represented the landlord in this transaction. Club 4 plans to open this facility in the first quarter of 2019.
- The Club has also just secured a 30,907-square-foot retail space at The Pavilion Shopping Center in Kenner, Louisiana, and plans to open in the first quarter of 2019. John Moss with LA Retail represented the landlord in this transaction.
The Club offers a wide array of health and fitness equipment that allows members to achieve their health and fitness goals through regular exercise programs. From the building design to the variety of services, The Club offers a truly unique experience. With the mission of improving the physical, medical, spiritual and emotional health of local communities, Club 4 Fitness is excited to bring its concept to local markets.
Club 4 Fitness currently operates ten fitness clubs in Mississippi. This marks the 1st location for both Alabama and Louisiana.
For leasing information, contact Justin Toomey at jbtoomey@stirlingprop.com or (251) 342-7229.
Chipping In For Charity
Local charities score big during
Stirling Properties’ Annual Stirling Invitational Golf Tournament
Stirling Properties hosted its 18th Annual Stirling Invitational Golf Tournament on Monday, October 8th at University Club Plantation in Baton Rouge, Louisiana. This year’s tournament successfully raised more than $25,000 for local charities!
113 participants enjoyed a variety of friendly competitions in addition to 18 holes of scramble golf tournament play. Congratulations to the 1st Place Low Net winners, Stuart Bonaventure, Ryan Juneau, BJ Branigan and Trent Sandahl. The Low Gross winning team included Andy Coleman, David Laizer, Tommy Buckel and Dennis Shill.
The Longest Drive award went to Marc Bourgeois, and Closest to the Pin prizes were presented to Eric Landry, Paul Geyer and Chip Songy. Additional awards were given for 2nd, 3rd and 4th Low Gross and Low Net. A special shout out to the Highest Gross scoring team, William McKnight, Beau Egan, Elliot Turner and Neal Choppin.
However, the real winners of the day were the local nonprofit organizations that benefited from the tournament proceeds. Ochsner Foundation received $10,000 from the proceeds, and the remaining profits will be distributed to various local charitable causes.
Representatives from Ochsner Foundation were on hand to receive a check for their contributions. Grady Brame, Executive Vice President with Stirling Properties, presented a check to Louisa Post, Ochsner Foundation’s Director of Development for Baton Rouge, during an awards celebration and cocktail reception following the tournament. Rick Perry, President and CEO of Tiger Athletic Foundation, was also presented with a $1,000 check to TAF for the LSU Golf Team.
“A great time—for a great cause—was had by all. We are fortunate to be able to play such an outstanding course, and to have the opportunity to help raise funds for local nonprofit organizations that are doing critical work in our community,” said Brame. “We could not accomplish all of this without the generosity of our tournament sponsors. We want to thank all of our sponsors and everyone who came out to support our event.”
The Stirling Invitational Golf Tournament has contributed more than $239,000 to numerous organizations over the past 18 years.
Thank you to all of our friends and supporters who participated and contributed to the Stirling Invitational Golf Tournament. This event would not be possible without you.
#StirlingProud
Additional sponsors include Netchex, Newmark Knight Frank, Metairie Bank, Real Estate Tax Group, Big Easy Parking Lot Maintenance, Gulf South Electric, Dixie Office Products, Metro Mechanical Inc, Covington Electric Services Inc, Geiger Heating & Air, Jones Fussell LLP, PMAT Real Estate Investments LLC, Premium Parking, River Parish Disposal, Certified Air Conditioning, Roth Law Firm LLC, Ryan Gootee General Contractors, Larry Loyd Construction Co. Inc, ITS Fire Alarm Security, Southeastern Waterproofing, Trimark, Palmisano Group, Robert Levis Development LLC, Mullin Landscape Associates, Premier Service Team LLC, Codaray Construction LLC, Chrestia & Inc, B&G Lawn Maintenance LLC, Gene Nims Builders, NcNeer Electrical Contracting Inc, Dale’s Paving Inc, Southern Farm Bureau Life Insurance Company, CMC (Calcasieu Mechanical Contractors), Angelos Landscaping, Cook Moore & Associates (Cornerstone), Cost Segregation Services Inc. (CSSI), Huseman, Jeffrey Lipp Parking Lot Services, Precision Concrete Cutting of Louisiana, Professional Maintenance Services, , Unit Design Inc, Thermal Products Inc, Grass Unlimited, Crystal Clean Sweeping, Landry’s Lawn, T.L. Construction LLC, ACA Mechanical Industrial Inc, CertaPro Painters, CJ Ladner (State Farm), Sign Lite, Jimmy Maurin, James Hudson, and Roger Ogden.
A huge shout out to Fidelity Bank for sponsoring lunch.
Stirling contributed to the Safe Harbor Domestic Violence Program! We’ve […]
