Introducing New-To-Market Fitness Concept, HOTWORX
Stirling Properties commercial real estate company is excited to announce that it will exclusively represent HOTWORX, a new-to-market fitness concept across the United States.
HOTWORX is revolutionizing the fitness industry by providing the ultimate hot exercise experience and is the first to launch a 24/7 business franchise model through the use of its proprietary patent pending technology. It is the original fusion of infrared heat and isometrics through a virtually instructed exercise program designed for users to experience the many benefits of infrared absorption while completing a 30-minute workout session.
Joe Gardner, CCIM, and Thomas Bryan, Stirling Properties’ Sales and Leasing Executives, are the exclusive tenant representatives for HOTWORX and are working to secure national retail locations for the new fitness concept.
Currently, select Planet Beach spas are debuting the hot exercise experience. But HOTWORX plans to grow to 500 official HOTWORX Studio locations across the US in the next five years. The company presently has one HOTWORX Studio located in Oxford, Mississippi, with another planned to open in Palm Beach, Florida, within the next month. Future studio sites also include locations in the greater New Orleans area and surrounding Gulf Coast region.
“Our HOTWORX fitness concept is ready to expand, and we are thrilled to be working with Stirling Properties, a true leader in the real estate industry, to grow our business across the nation. We are seeking franchisees for various business opportunities and will be announcing new HOTWORX locations soon,” said Stephen Smith, HOTWORX CEO.
“HOTWORX has aggressive expansion and franchise plans in the works for our region and across the country. We are excited to be able to help them meet and exceed their real estate goals—and introduce a new fitness concept that was founded right here in New Orleans,” said Gardner. “We look forward to announcing new retail locations and storefronts within the coming months.”
For more information on HOTWORX and franchise opportunities, visit www.hotworx.net.
What’s Going On at River Chase in Covington?
Stirling Properties Announces Exciting New Updates and Developments
The first phase of the Offices at River Chase, the Northshore’s premier office campus, has completed construction. Located at the southwest corner of Brewster Road and Stirling Boulevard, Phase I includes a Class-A, two-story, 45,000-square-foot office building located on 3.5 acres. It is accessible from both the LA-21 and Brewster Road interchanges on Interstate 12, and within walking distance to a host of amenities, including restaurants, a movie theater, and residential living options. The highly-renowned architectural firm, Wakefield, Beasley, and Associates, designed the base building, and Mandeville-based Greenleaf Lawson Architects served as the interior architect for the project. Tenant build-outs are now underway, and Duplantis Design Group, PC, will move into their new, 6,000-square-foot office space in mid-May. For more information on the Offices at River Chase and leasing opportunities, contact Ryan Murphy at rmurphy@stirlingprop.com or (985) 246-3771. 
Located across the street from the office building, Walk-On’s Bistreaux & Bar commenced construction on its new restaurant last November. Set on 1.82 acres on the northwest corner of Stirling Boulevard and Brewster Road next to Sam’s Club, this marks the 1st Northshore location for the highly-anticipated sports restaurant and bar. It will occupy roughly 9,600 square feet and is expected to open late this summer, just in time for football season. The Covington location will include a rooftop bar, The Upper Deck, an element unique to the design by Greenleaf Lawson Architects. The Upper Deck will feature group seating and additional space for catching a game. 
Rooms-To-Go has opened its new 36,000-square-foot retail showroom located next to Zoe’s Kitchen on Stirling Boulevard. The impressive store is highly visible to Interstate 12 traffic. A Grand Opening celebration was held on Saturday, April 22nd. The furniture retailer relocated from its previous site on Highway 190 in Covington.
Construction on Springs at River Chase is complete, and all buildings are open. This project is a joint venture with Continental Properties. The new 296-unit luxury apartment community is located at the southwest corner of Interstate 12 and Brewster Road. The property features floor plans ranging from studio to three-bedroom apartments. Community amenities include a clubhouse, resort-style pool, 24-hour fitness center, dog park, attached and detached garages, car care center, and a pet spa. Occupancy remains high for the multi-family community. For more information and leasing on Springs at River Chase, contact Jan Rayburn with Continental Properties at (985) 327-1350.
Construction is underway for the newest addition to River Chase, the development of the Preserve at River Chase, a single-family luxury residential community, adjacent to the Springs at River Chase apartments. The Preserve development is a joint venture with Southern Lifestyle Development, which is renowned for its highly-acclaimed River Ranch residential community in Lafayette, Louisiana, amongst many other communities. Phase I of the Preserve will include the completion of 76 detached town and country homes. Infrastructure work has commenced and is expected to be complete in November, at which point the residential lots will be available for sale. Construction on the homes is expected to begin early 2018. 
River Chase is the Northshore’s premier master-planned development located amidst 253 acres on the southeast corner of Interstate 12 and LA Highway 21 in Covington, Louisiana. The mixed-use center includes approximately 945,000 square feet of retail and restaurant options, as well as a Holiday Inn Express, Regal Cinema, luxury residential apartment units, and a Class-A office building. Additional residential and office developments are coming soon. Stirling Properties developed River Chase and currently manages and leases the property. River Chase is a Louisiana Economic Development (LED) Certified Site. For more information, please visit www.stirlingprop.com. For retail leasing and sales, contact Rhonda Sharkawy at (504) 620-8145 or rsharkawy@stirlingprop.com. For office leasing and sales, contact Ryan Murphy at (985) 246-3771 or rmurphy@stirlingprop.com.
“TREEmendous” Organizations In Our Region
This past weekend, we celebrated Earth Day, an annual day dedicated to encouraging conversation and engagement around environmental sustainability.
Stirling Properties is a proud supporter of numerous environmental programs right here in the Gulf South region. Their work is critical to our success and makes our communities—where we live and work—stronger. In addition to corporate support, many of Stirling Properties’ employees and agents give their time and resources to charitable organizations that improve our environment.
So even though Earth Day has come and gone, we would like to spotlight a few organizations that make our region a little greener every day.
SOUL Nola (Sustaining Our Urban Landscape)
SOUL, a project of The Trust For Conservation Innovation, is dedicated to driving a resilient and equitable New Orleans through improving its water systems.
According to SOUL, New Orleans is the most deforested city in the United States. The group believes that a healthy and substantial urban forest is critical to New Orleans’ ability to live harmoniously with stormwater. Like gray infrastructure, such as canals and roads, the urban forest and other forms of green infrastructure must be built at a meaningful scale and properly integrated into the city. SOUL is dedicated to strategically reforesting New Orleans, one neighborhood at a time. This year, volunteers have planted 190 large native trees in the Mid-City and Algiers Point/Old Algiers neighborhoods of New Orleans, and are in a planning phase for additional areas.
Nola Tree Project
The mission of Nola Tree Project is to grow stronger, healthier communities through tree planting, community service, and disaster relief programs. Through initiatives such as Greaux Healthy Kids & Community Orchards, Urban Forestry Program, and Big TREEsy Giveaways, Nola Tree Project aims to improve the quality of life for our neighbors and communities. With the help of numerous volunteers, the organization has planted nearly 40,000 trees throughout the greater New Orleans area.
Friends of Lafitte Greenway
The Lafitte Greenway is a 2.6-mile bicycle and pedestrian trail and green corridor that connects neighborhoods from Armstrong Park to City Park in New Orleans, significantly transforming one of the most historic areas of New Orleans into a multi-use transportation corridor and linear park.
The Greenway includes a 12-foot asphalt path for cyclists and pedestrians, new recreation fields, green space, and landscaping improvements including approximately 500 shade trees, native plant meadows, bioswales and stormwater retention features. The path is fully lit with LED energy-efficient trail lighting and includes curb extensions, signalized high visibility crosswalks, ADA-compliant curb ramps at sidewalk corners, environmental remediation, a crushed stone walking path, and a bicycle and pedestrian roundabout. Friends of Lafitte Greenway plans to launch several new initiatives and projects throughout the Greenway that will include art installations, healthy living events, guided tours, community gardens, and much more. The organization and its members are working diligently to build, program, and promote the linear park as a great public space.
We salute these “TREEmendous” organizations for their contributions to our region. And we look forward to supporting and “growing” with them for many years to come.
#StirlingProud
Marty
Stirling Properties Commercial Agents Among Top Producers At 2017 NOMAR CID Awards Ceremony
Carly Plotkin, Joe Gardner, Beezie Landry, Lauren Ryan
Stirling Properties commercial real estate agents were honored during the New Orleans Metropolitan Association of Realtors (NOMAR) Commercial Investment Division (CID) 24th Annual Achievement Awards ceremony.
Beezie Landry, Stirling Properties’ Senior Investment Sales Advisor, received the award for Top Overall Retail Production. Sales and Leasing Executive, Joe Gardner, CCIM, was awarded for Largest Land Sale & Largest Landlord Lease. Carly Plotkin, Sales and Leasing Executive, received the Rising Star Award.
Rhonda Sharkawy, Senior Retail Leasing and Development Executive, was acknowledged for her induction last year into the CID Hall of Fame after having received the prestigious F. Poche Waguespack Award for the highest volume of sales and leases in the greater New Orleans area for five consecutive years. She is one of only a handful of women to receive this esteemed award since its inception in 1964.
Lauren Ryan, Sales and Leasing Executive, was a first-time recipient of the Production Award, given for agents obtaining total commercial credit sales and leasing of more than $2.5 million. Landry, Gardner, and Sharkawy were also among Production Award recipients.
The goal of the Commercial Investment Division (CID) Awards is to review and recognize individual achievement among commercial real estate practitioners who are members in good standing of the New Orleans Metropolitan Association (NOMAR) of REALTORS®.
Louisiana State University Takes 3rd Place (Again!) In Global ARGUS University Challenge
Continues to propel national spotlight on growing educational real estate programs at LSU
Stirling Properties commercial real estate company is pleased to announce students from Louisiana State University (LSU) E.J. Ourso College of Business were awarded 3rd place in the global 2017 ARGUS Software University Challenge.
Since 2011, ARGUS Software has hosted the competitive challenge for university students from around the world aspiring to be commercial real estate professionals. Through this challenge, students create real-world investment strategies through informed decisions using ARGUS Software solutions. The theme of the case this year was Pokémon GO! A panel of judges from the academic community and real estate industry participated in reviewing the case studies and nominating the winners.
More than 30 top real estate programs from universities worldwide participated in the competition. The University of San Diego won 1st place, Cornell University placed 2nd, LSU took 3rd, and UCLA earned an honorable mention.
The team from LSU—Garrett Choate, Whitney Gaulter, Matt Hingle, Tyler Tamboli, Sophie Weber, Jason Wyman, and Cassius Dsouza—was coached by Stirling Properties Vice President of Finance, Justin Landry. Landry serves as an adjunct professor teaching Finance 7720 (Commercial Real Estate Investing). This is the 6th year he has taught the course and the 6th year an LSU team has competed in the ARGUS Challenge. It also marks the 2nd time placing under Landry’s leadership.
“This is the second consecutive year that we have secured a 3rd place finish in this competition, so it is no longer beginners luck! This win will certainly garner larger attention around the nation for LSU real estate programs and for students who seek a career in the industry. I am very proud of this team for their accomplishments—they have really worked hard,” said Landry.
LSU’s team secured $3,000 for the university through ARGUS Software. In addition, the students were bestowed the 2017 ICSC (International Council of Shopping Centers) Maurin-Ogden Foundation LSU Scholarship Award, funded by Jimmy Maurin and Roger Ogden, founders of Stirling Properties. Through the scholarship, students will receive all-expense-paid attendance to the ICSC RECon in Las Vegas, the world’s largest retail real estate convention. Each year Stirling Properties hosts LSU Award Recipients at the conference, offering the students valuable exposure to industry leaders and potential employers.
“We truly thank Stirling Properties’ founders, Jimmy Maurin and Roger Ogden for their generosity and unwavering commitment to LSU, real estate, and education. This is an invaluable opportunity for these students to meet and network with industry leaders. Many of our students in the past have garnered great job prospects through this experience,” said Landry.
For more information about Finance 7720 (Commercial Real Estate Investing) and its objectives, contact Justin Landry at jclandry@stirlingprop.com.
Stirling Properties is located at 109 Northpark Blvd., Suite 300 in Covington, Louisiana. For more information regarding our services, please visit us at www.stirlingproperties.com.
President’s Message: The Death Knell of Retail Real Estate Is Exaggerated
I am sure you have all read attention-grabbing news headlines such as these and share the same concerns regarding the future of retail real estate. In this new era of constant access to millions of digital media streams, dramatic headlines cut through the clutter and generate more attention. Drama sells. But despite all the negativity circulating, I am confident that the retail landscape is solid, and the death knell of brick-and-mortar stores is heavily exaggerated.
While there is no question that technology has disrupted the retail business via e-commerce, mobile devices, virtual shopping, etc., physical stores continue to dominate retail sales. Research shows that 78% of consumers prefer to shop in store and spend significantly more per month in a physical store than online. E-commerce, multiple fulfillment options, omnichannel retailing, and other technological advances are improving the brick-and-mortar shopping experience and boosting sales at physical stores.
Even though e-commerce sales are growing significantly (approximately 15% annually), the in-store vs. online struggle is not quite the battle that it is portrayed to be. E-commerce sales—combined with mail-order sales—account for less than 10% of total retail sales. Furthermore, it is estimated that over half of online sales actually go to brick-and-mortar retailers. Consumers are still buying from stores, but now they have more choices to compare prices, make transactions, and receive their goods. Major retailers such as Anthropologie and Nordstrom are effectively leveraging e-commerce sales to grow their business. Anthropologie notes that 36% of its total revenue is earned online and Nordstrom reports 22%. Successful retailers are learning to integrate online sales and omnichannel retailing.
However, in every industry, there will always be winners and losers. Companies must adapt to an evolving business climate. That includes retailers. Competition and shifting customer habits are hurting more merchants than the internet, and innovative new retail concepts are coming to market daily. Unfortunately, corporations like Blockbuster, Sports Authority, and The Limited did not survive the ever-changing retail industry. But on the flipside, stores such as Best Buy, Dollar General, Ross Dress For Less, TJX Cos. (T.J.Maxx, Marshalls, HomeGoods), ULTA Beauty, and countless others—most of which are in Stirling Properties’ portfolio—are all flourishing and rapidly expanding their physical presence. New-to-market retailers like Filson, Iron & Resin, KENZO, and Woolrich are getting in on the action. Even online retail-giant, Amazon, has taken note of the power of physical stores and rolled out brick-and-mortar expansion plans. Many other merchants with digital roots have followed the same path (i.e. “clicks-to-bricks”), such as Warby Parker, Fabletics, and Bonobos.
Similarly, there will be winners and losers as retail real estate investors and owners. Well located, solidly anchored centers are thriving, while Class-B and -C malls and poorly located centers are continually losing national tenants, struggling to fill empty spaces, and downsizing significantly. Some are failing altogether.
The bottom line is that consumer patterns and expectations have shifted. In this so-called “era of the high-maintenance consumer,” they demand value, convenience, multi-channel fulfillment options, and a unique, entertaining experience.
Well-located retail real estate with strong anchors is still a profitable investment option. Net absorption has been high, demand has been exceeding supply, and rents have been rising. Retail is yielding the best 20-year return of any property type due to a combination of strong fundamentals, favorable demographics, limited new supply, and cash flow growth potential. Secondary and tertiary markets are proving to be especially attractive for investors to buy value-add retail opportunities.
Retail real estate is not dying; it’s disrupted. Anyone with any involvement in the industry must embrace this changing landscape to be successful. We will continue to hear negative news and over-exaggerated headlines as the retail race endures, and more stores announce weak sales forecasts and closures. But disruption creates opportunity and a chance for reinvention. At Stirling Properties, we plan to take advantage of these opportunities to re-evaluate and enhance our portfolio and strategic growth plans.
We must ALL adapt and deliver…or get left behind!
-Marty
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