Stirling Properties Awarded Management and Leasing Contract of Ambassador Plaza
Stirling Properties commercial real estate company has been awarded the management and leasing contract for Ambassador Plaza in Lafayette, Louisiana.
Ambassador Plaza, shadow-anchored by Albertsons, is a 29,405-square-foot retail center located at the corner of Ambassador Caffery Parkway and West Congress Street. It is 92% leased and has a great mix of retail and restaurant options. Tenants include Fruiti Smoothie, Little Caesars, Lotus Garden, Luxurious Nails, Omega Dentistry, Planet Beach, Saigon Noodles, Style America, Subway, The Jambalaya Shoppe, WellCare, and Wingstop.
The retail center was recently acquired by a local ownership group that has contracted with Stirling Properties for asset management services.
“Stirling Properties is excited to add Ambassador Plaza to our growing commercial portfolio. We have been active in the Lafayette market for quite some time and have a great management and leasing team as well as support staff on the ground. We look forward to working with the new ownership group to create the best return on investment for their asset,” said Donna Taylor, Sr. Vice President of Asset Management & New Business with Stirling Properties.
Stirling Properties manages nearly 18 million square feet of commercial property, with 120 million square feet of property and land for sale or lease. Other Stirling Properties management and development projects in Lafayette include Ambassador Town Center, Stirling Lafayette, River Marketplace, and the 1819 Pinhook Office Building, just to name a few.
For asset management information, contact Donna Taylor at (985) 246-3758 or dtaylor@stirlingprop.com.
Commercial Real Estate Advocacy
Stirling Properties recently had the opportunity to participate in the ICSC Strategic Leadership Summit (SLS) Fly-In to Washington, DC. My colleagues—Townsend Underhill, Sr. VP of Development; Will Barrois, VP & Regional Manager AL/FL; and Jimmy Maurin, Stirling Properties founder—and I joined nearly 200 industry representatives from 35 states on Capitol Hill to create awareness and advocate for issues that are critical to the commercial real estate industry—OUR industry.
During this drastically changing and erratic political environment, many critical topics that affect our business are on the legislative table. Now, it is more obvious than ever that we must have a seat at that table to help shape laws and regulations that will surely impact all of us. It is essential that we create a strong, united approach to educating elected officials and bringing these issues to their attention.
While at the SLS, a Louisiana delegation met with several political leaders, advisors, and staff, including Senator Bill Cassidy, Senator John Kennedy, Congressman Ralph Abraham, Congressman Garret Graves, Congressman Cedric Richmond, and representatives from Congressman Steve Scalise’s office. A small group of us were also able to briefly talk with Senate Majority Leader Mitch McConnell.
Townsend Underhill, Andy St. Romain, Jimmy Maurin, Congressmen Graves, Marty Mayer, Ken Lamy
While there are many areas of concern regarding legislative policy that will affect the real estate industry, there are three major issues that we have prioritized—Tax Reform, ADA Reform, and E-Fairness.
Tax Reform is by far the most critical of the issues we are facing because it is the most uncertain and could potentially have the most devastating effects. Even though there has been a great deal of discussion regarding the generalities of reform, specifics of any legislation have yet to be determined.
As some of you may remember, the last major tax reform in 1986 represented the largest ever tax imposed on the real estate business. Taxation policy changes to the elimination of any transition rules and the treatment of pass-through entities hammered our industry and caused many companies to nosedive. The law had a considerable detrimental effect on our industry, the financial markets, and the economy in general, from which it took years to recover.
And now, numerous impactful tax reform policies are back in the spotlight—everything from Border Adjustment Tax (BAT) to the elimination of Interest Deduction and Like-Kinded Exchanges. As these discussions are taking place, it is critical that we convey a solid, informed message so our government representatives understand the ramifications of the policies that they set. To learn more about these tax reform policies, click here.
The ADA Education and Reform Act, H.R. 620, is aimed at improving compliance and discouraging abusive lawsuits over trivial issues mostly in an effort to collect attorney’s fees. This bill closes a loophole that has unintentionally contributed to the significant growth in federal “drive-by” lawsuits, which have increased 37% from 2015-2016.
At the same time the legislation adds safeguards that incentivize the remedy of alleged violations without taking away the right to pursue negligent business owners who ignore compliance. Congressman Ralph Abraham is a co-sponsor of this bill and we need to maintain bipartisan support. To learn more about ADA reform, click here.
E-Fairness legislation continues to be a major challenge, but it is recently gaining broader traction. H.R. 2193, the Remote Transactions Parity Act and S. 976, the Marketplace Fairness Act aim to create a level playing field in the retail marketplace. A sale is a sale regardless of whether it takes place in a brick-and-mortar store or on the Internet. The same rules that apply to local businesses across our nation should apply to online retailers. To learn more about E-Fairness legislation, click here.
Tony Brown, Lacy Beasley, Scott McLain, and Will Barrois
Stirling Properties’ Will Barrois, who is serving as ICSC’s AL & MS State Director, was also on Capitol Hill with a business delegation from Mobile, Birmingham, and Huntsville. In all, they had nine meetings with Alabama senators, congressmen, and legislative advisors. He noted, as a whole, they were receptive to working with us on these priority issues. Our government leaders realize the importance of the retail real estate industry—it employs a lot of people and is an integral part of local communities and government funding.
“Every political leader we spoke with was open to hearing our message. They were engaged and invited future discussion—they want to hear from their constituents. Legislators understand the need for open dialogue and for us to have a seat at the table in the decision-making process,” said Barrois.
Overall, the Strategic Leadership Summit was a success and we were able to shine a light on the real estate industry and policy matters that will affect it. We thank ICSC and its staff for doing a fantastic job with coordinating these meetings, while helping us to be more efficient with limited time and thoroughly prepared with effective messaging.
How can you help? Let your voice be heard. As informed business leaders and constituents, we can play the most important role of all in shaping legislation. To contact your representatives or to find your local elected officials, visit the ICSC Legislative Action Center.
If you have questions, concerns, or simply need clarification on any of these policy topics, please feel free to reach out to any one of us directly. We would be more than happy to talk with you.
Speak up, speak out!
Marty
2017 Stirling Olympians Triumph During Annual Games
Raise $53,000 For Local Nonprofits!
Stirling Properties has its own version of the Olympic Games! Employees recently celebrated the 5th Annual Stirling Olympics, an event hosted by the Stirling Stewardship Committee to raise money for charitable causes throughout the Gulf South region. The event was a HUGE SUCCESS, raising $53,000 for local nonprofit organizations!
Funds raised benefited Next Generation, which helps facilitate student-initiated lunch clubs on Junior and Senior high school campuses to connect students in conversation and with local mentors for guidance on real-life issues such as bullying, suicide, violence, drug abuse, relationship struggles, and excellence in education, as well as The Learning Tree, which provides educational, residential, and support services for children and adolescents with developmental disabilities. Representatives from each organization were on hand to accept a check for $26,500 each.
Throughout the day, Stirling Properties’ team members battled one another in quirky competitions and relay races such as Musical Chairs, Hula Hoop Chain, Caterpillar Race, Dodgeball, Bucket Heads, Puzzle Relay, and The Funky Chicken. Scores were tallied, and individual medals were awarded for each event. Although our athletic skills were not of world-class caliber, a good time was had by all!
The games were judged by Christi and Steve Zito (Zito Russell Architects), Steve Serio (Fishman Haygood), Elizabeth Schmelling (New Orleans Moms Blog & Red Stick Moms Blog), Tommy Buckel (Duplantis Design Group), and Kasey Dorr (RCI). (A couple of flags were thrown, but no players were ejected this year for unsportsmanlike conduct!) Dick Cyr served as the event emcee. Fidelity Bank, Smoothie King, and Whole Foods Market provided participants with food and beverages throughout the day.
The Gold Medal overall went to the Lime Tamers. Congratulations to Roslyn Rogers, Denise Tatum, Peggy Sayler, Kelly Wellmeyer, Donna Allsup, Jack Conger, Johnny Tolson, Grady Brame, Chris Mastio, and Tracy Gandy! The Blue Team took home the Silver Medal—Chris Abadie, Claire Draper, Joyce Ori, Sharon Amacker, Brandon Gerak, Rachel Jerkins, Cheri Magee, Kennedy Striplin, Rebecca Pritchard, and Bradley Cook. Gangsters in Paradise secured the Bronze Medal—Griffin Lennox, Donna Derokey, Amanda Goldman, Lynn Blanchard, Kathy McGoey, Scott Macdonald, Saban Sellers, Townsend Underhill, Carly Plotkin, and Kylie Ferguson.
At the end of the day, Stirling Properties’ partnership group treated everyone to a special presentation called “The Mane Event.” They competed among themselves in a hobby-horse obstacle course race! Employees were able to cast votes for Best of Show and Course Grand Champion. Donna Taylor swept the competition in both style and grace with her horse, Sassy Sparkle Boots. Townsend Underhill took home the award for Outstanding UNDERachievement with his horse, Race For The Crown.
A heartfelt thanks to all of our supporting sponsors, including Wright & Percy, Richard Price, Brasfield & Gorrie, Fishman Haygood, Duplantis Design Group, Zito Russell Architects, Whitney Bank, Walker & Dunlop, Rotolo Consultants, IBERIABANK, Fidelity Bank, Capital One, Vinson Guard, Rozas Ward Architects, Louisiana Landscape, J&B Machine Co., BH Management, Berkadia Commercial Mortgage, VergesRome Architects, Tudor, Stratum Engineering, Regal Construction, Jefferson Sprinkler, Baker Donelson, and Acadia Land Surveyor.
And a big shout-out to the Stirling Stewardship Committee and the Olympics Committee for all their hard work organizing the event and making it happen! You all deserve a round of applause!!
#StirlingProud
Melissa Warren Named As Sales & Leasing Executive
Stirling Properties commercial real estate company is pleased to announce that Melissa Warren, CCIM, has joined its Commercial Brokerage Division as Sales and Leasing Executive. She will work from the company’s New Orleans office located in the Pan American Life Center at 601 Poydras Street.
Warren has provided clients with commercial real estate advisory services since 2001. Her focus is on industrial, office, and retail sales and leasing, as well as tenant and landlord representation.
On behalf of clients, Warren has been responsible for conducting investment, market, and financial analysis, as well as negotiating purchase and lease contracts. She coordinates transaction due diligence, site selection services, user decision analysis, and assists clients with planning and zoning matters. Additionally, she has served as the leasing agent for East Jefferson General Hospital and has represented Whitney/Hancock Bank in the disposition of distressed commercial assets and office leasing.
Prior to joining Stirling Properties, Warren was a senior real estate advisor for Grubb & Ellis/ Sawyer Commercial in Gulfport, Mississippi. In 2005 and 2006, she was awarded the Top Producer Ruby Award by the Gulf Coast Association of Realtors (GCAR) for completing the largest number of commercial transactions on the Mississippi Gulf Coast. In 2010, she was inducted into GCAR’s Top Producer Round Table for lifetime achievement.
Warren graduated from Mississippi State University with a Bachelor of Arts degree in English. In 2006, she was designated a Certified Commercial Investment Member (CCIM). She is affiliated with the National Association of Realtors (NAR), New Orleans Metropolitan Association of Realtors (NOMAR) – Commercial Investment Division (CID), CCIM Institute, Louisiana Chapter of CCIM, International Council of Shopping Centers (ICSC), and Louisiana Commercial Database (LACDB).
Melissa Warren, CCIM, can be reached at (504) 620-8148 or mwarren@stirlingprop.com.
Ochsner Health System Announces Plans to Lease Former Louisiana Heart Hospital Property
Today, Ochsner Health System announced its plans to lease the former Louisiana Heart Hospital property in Lacombe, Louisiana. Stirling Properties acquired the 25-acre site earlier this month.
An official ceremony was held with Honorable Pat Brister, St. Tammany Parish President; Warner Thomas, President & CEO of Ochsner Health System; Patti Ellish, CEO of St. Tammany Parish Hospital; Bill Davis, CEO of Slidell Market SMH-Ochsner Partnership; Townsend Underhill, Sr. VP of Development for Stirling Properties; and St. Tammany Parish Council members and dignitaries.
Working together with each of its partners, St. Tammany Parish Hospital and Slidell Memorial Hospital, Ochsner plans to repurpose the building to open a Post-Acute Care Hospital to include long-term acute care, skilled nursing, and inpatient rehabilitation services in one convenient St. Tammany location. This effort will also result in job growth and expanded administrative services in the region by opening a dedicated North Shore Service Center.
“We are excited that this facility will once again be opened and provide much-needed medical services for our residents as well as jobs for our local healthcare workforce,” said President Brister. “We appreciate Ochsner’s commitment to St. Tammany Parish, and we look forward to another leading-edge healthcare facility, providing high-quality medical care.”
Townsend Underhill participated in the announcement to underscore Stirling Properties’ focus and commitment to St. Tammany Parish and the entire Gulf South region.
Stirling Properties has invested more than $350 million in St. Tammany and currently owns and operates 4 million square feet of commercial property, with assets throughout the parish—generating significant economic development opportunities, revenue, and job growth for the area and residents. Major projects in the parish include Northpark Corporate Center I & II in Covington, Premier Centre in Mandeville, Stirling Slidell in Slidell, River Chase in Covington, and Fremaux Town Center in Slidell, just to name a few.
In addition to growing its development and brokerage services, Stirling Properties is focused on acquisition and investment projects. The recently closed Louisiana Heart Hospital facility provided the company a chance to invest in a vital property and help to return it to commerce.
“This acquisition also provided us another opportunity to grow and diversify our portfolio as part of Stirling Properties’ overall growth strategy into new commercial real estate sectors within our existing footprint,” said Underhill. “Need and demand in the medical industry are growing, and so are our service lines to meet these local needs.”
Stirling Properties is thankful for its continued partnerships with Ochsner. The two companies have previously worked together on the recently announced $80 million medical clinic and micro hospital at The Grove in Baton Rouge as well as the recently completed and soon to open state-of-the-art Emergency Department and Imaging Center in LaPlace.
Stirling Properties looks forward to announcing future projects in the medical industry—and continuing to serve the commercial real estate needs of the Gulf South region.
New Orleans Tricentennial: The 300th Anniversary
Beginning in just a few months, New Orleans will enter its Tricentennial anniversary celebrating a 300 year history of one of the world’s most unique cities. During the Tricentennial year, we will be celebrating our history, culture, diversity, resilience, and people, as well as setting the course for a future on the rise. We invite you to join us. Please visit the site www.2018nola.com to learn more about the upcoming festivities.
The trajectory of New Orleans over the last 10 years has been one of the most remarkable comeback stories in our nation. Time Magazine recently ranked New Orleans in the top 5 cities for millennial migration with an 8.5% increase in 25-34 year olds from 2010-2015. New Orleans is one of the fastest growing cities for tech jobs, one of the best cities for women in tech and one of the top ten cities for creatives in America. The Crescent City consistently lands among the top in rankings such as “#1 Brain Magnet in America”, “Most Dynamic City in America”, “#1 Most Improved Metro in the US”, and “#2 Favorite City in America”.
Louis Armstrong New Orleans International Airport Rendering
From new international flights to London, Frankfort, and Panama City, to workforce development and tourism growth, to public policy reform, our region has recently celebrated many accomplishments. We are building a new airport, redeveloping our storied riverfront, and creating a 21st-century medical corridor. Many infrastructure improvements are underway, and new businesses are flocking to the area, attracting talented young minds to join their ranks.
Mid-City Market, New Orleans, Louisiana
In the last 7 years alone, Stirling Properties’ investments in the City of New Orleans have exceeded $150 million. The first retail development post-Katrina in New Orleans was Mid-City Market, which transformed a formerly blighted New Orleans neighborhood into a contextual grocery-anchored urban infill shopping center.
Magnolia Marketplace, New Orleans, Louisiana
Another significant project in New Orleans, Magnolia Marketplace, encompassed the redevelopment of the former C.J. Peete Housing Project into a dynamic new retail development in an underserved market of Orleans Parish. This redevelopment brought much needed sales tax and the introduction of national retailers into the city of New Orleans.
Pan American Life Center, New Orleans, Louisiana
In 2010, Stirling Properties acquired the 674,000 sq. ft. Class A Pan American Life Center office building in the New Orleans Central Business District. This was our first office investment in the City of New Orleans. The building serves as headquarters to some of the region’s top banks, insurance, and law firms. Recently, the building was transformed into a mixed-use office and retail space, bringing in tenants such as Starbucks, Tsunami Sushi, and Smoothie King to the first floor. And last year, as part of our company’s long-term commitment to the City of New Orleans, we relocated our CBD office to the 27th floor of the Pan American Life Center.
Stirling Properties office, 27th Floor Pan American Life Center
As proud as I am of our company’s many accomplishments, I am equally as proud of the role we have played in contributing to and supporting the numerous nonprofits, community groups, and civic and industry organizations throughout the area, which have played such a significant role in the New New Orleans.
The City of New Orleans has been in the making for nearly 300 years. We’ve had ups and downs, successes and failures, and tragedies along the way—and we still have lots of work left to do. But New Orleans is resilient and our city today is triumphing. As we celebrate the 300th year of its founding, we welcome you to join us in commemorating the past and helping to create the future. Come see what’s happening here!
It is truly an exciting time to be in New Orleans. I invite you to learn more at www.2018nola.com and to join in celebrating our anniversary.
#2018nola
Through a joint venture with Level Homes, Stirling announces […]
Stirling is pleased to announce that effective January 1, 2023, Justin […]