Stirling Properties Welcomes The Home Depot to Hammond Square
Stirling Properties commercial real estate company is pleased to announce that The Home Depot is coming to Hammond, Louisiana, as part of the Hammond Square redevelopment. This will mark the first Tangipahoa Parish location for the long-awaited home improvement retailer.
The Home Depot closed on the acquisition of 9.65 acres of property located on the corner of West Minnesota Park Road and South Magnolia Street on the north side of the shopping center. Construction on the site is anticipated to commence by the end of the year. The store will occupy roughly 106,000 square feet of space with an adjoining 28,000-square-foot garden center, and is expected to open in 2017.
“We are excited that The Home Depot has chosen Hammond,” said City of Hammond Mayor Pete Panepinto. “The Home Depot brings more jobs and consumer choices that are critical to Hammond’s continued growth.”
The Home Depot is the world’s largest home improvement retailer with nearly 400,000 associates and more than 2,200 stores in the US, Canada and Mexico. The Home Depot at Hammond Square will offer a one-stop shop for do-it-yourselfers and professional contractors, with more than 35,000 products in store and 1 million products online.
“Stirling Properties is thrilled to welcome The Home Depot to Hammond Square and to the Hammond retail market,” said Grady Brame, Executive Vice President at Stirling Properties. “The Home Depot was one of the first retailers we targeted when we decided to redevelop the mall back in 2006. This addition has been a long time coming and we are happy to see it finally come to fruition.”
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. Anchored by Dillard’s, Target, Sears, JCPenney, Academy Sports+Outdoors, and AMC Theatres, the 850,000-square-foot shopping center offers a dynamic mix of national and local retailers, shops and restaurants. Stirling Properties developed Hammond Square and currently manages and leases the center.
Tenants include Academy Sports+Outdoors, Albasha Greek & Lebanese Restaurant, AMC Theatres, Bellagio Salon & Spa, Best Buy, Books-A-Million, Bra la Vie (coming spring 2017), Cato, Charming Charlie, Claire’s, Dillard’s, East of Italy, Foot Locker, GNC, Great American Cookies, Hibbett Sports, JCPenney, Justice, Kay Jewelers, Maurices, Menchie’s Frozen Yogurt, Nagoya Sushi & Japanese Steakhouse, Norris & Co. Salon, Obsession, Popcorn Bistro, Rite Aid, rue21, Sears, Shane’s Rib Shack, Shoe Dept. Encore, Sport Clips, Target, The Children’s Place, The Home Depot (coming 2017), T.J.Maxx, ULTA Beauty, Which Wich Superior Sandwiches and Zales. Outparcels tenants include Chase, Olive Garden, Raising Cane’s, Santa Fe Cattle Co., Smoothie King and Verizon.
For sales and leasing information at Hammond Square, contact Rhonda Sharkawy at rsharkawy@stirlingprop.com or (504) 620-8145.
Debunking E-Commerce Myths
We’ve recently heard of fake news stories, hoaxes, and fabricated plots that have permeated headlines lately—and, unfortunately, the negative consequences that some have caused.
One such fictitious headline that’s running rampant is “the death of the shopping mall” and countless more tales of online sales putting brick-and-mortar stores out of business. But the reality is that the in-store vs. online struggle is not quite the battle that you probably think it is. In fact, physical stores continue to dominate retail sales.
So with the proliferation of fake news stories, here are a few facts to debunk these e-commerce myths and demonstrate the strength of the shopping center industry.
In-store retail sales accounts for $4.2 trillion or 90.7% of the market. A common perception is that online giants, such as Amazon, dwarf brick-and-mortar competition, but the reality is that Amazon is still a small percentage of the overall market. Online-only retailers represent merely about 3.5% of all U.S. retail sales.
Research also shows that 78% of consumers prefer to shop in-store, and spend significantly more per month in a physical store than online. We’re also seeing that omni-channel retailing is actually an enhancement to brick-and-mortar stores. E-commerce and other technological advances are improving the brick-and-mortar shopping experience and boosting sales at physical stores. 93.4% of all retail sales owe all or part of sales to a brick-and-mortar presence.
These are all encouraging statistics that confirm the shopping center industry is thriving, and the rise of technology and e-commerce is not going to change that. But we do need to change our thought process. Industry professionals and supporters need to advocate for our shopping centers and educate the consumer. According to one of my industry colleagues, “The consumer needs to be told that bricks and mortar is here to stay because if you keep telling the consumer it’s dead, the consumer will think it’s dead and start shopping online.”
Our friends at ICSC (International Council of Shopping Centers) have recently drafted several editorial pieces that have appeared in national news publications such as The Wall Street Journal. We are grateful for the leadership of Tom McGee and his team to help this business create our own sources of credible information, and to educate consumers on how vital the shopping center industry is, to both them and our entire country. Read the full articles “A Talk With Tom McGee” and “E-Commerce and Physical Stores Are Friends with a Common Purpose.”
-Marty
‘Tis the Season For Giving
For the 5th year, Stirling Properties has participated in the Volunteers of America Christmas Wish project. Employees and agents donated Christmas gifts, food baskets and other essential items to local families across our Gulf South region.
Volunteers of America helps more than 2 million people every year in over 400 communities. The annual Christmas Wish Project helps bring joy and holiday cheer to families and individuals who might not have a Christmas at all. Through Volunteers of America, participating families submit three “wish list” gift items for each individual. Stirling Properties and employees were able to fill every single wish! In all, close to 30 families and more than 49 children, adults and seniors received Christmas gifts. Additionally, each family received a food basket with tasty treats for the holiday season.
Stirling Properties’ Stewardship Committee organized the company-wide event by partnering with Volunteers of America in Greater New Orleans, Greater Baton Rouge, Northwest Louisiana and the Southeast to serve the New Orleans Northshore and Southshore, Baton Rouge, Lafayette, Shreveport-Bossier City and Mobile communities.
In addition to donating to the Christmas Wish Project, Stirling Properties hosted the second annual Northpark Christmas Bazaar, Bake Sale and Raffle on Friday, November 18th. Local vendors, as well as employees of the Northpark office complex sold crafts, jewelry, ornaments, books, beauty products and many other great gift items.
The Bake Sale and Raffle raised nearly $2,000, which was donated in full to Volunteers of America’s Greater New Orleans’ Christmas Family Program!
Participating in this project is always a great reminder of the true spirit of the Holiday Season – giving and generosity. Stirling Properties is committed to supporting the communities where we live and work, and we will continue to support local nonprofits, community groups and charitable organizations throughout the year and beyond.
Thank you to all of the vendors, donors and shoppers who made this project a huge success. You are all on Santa’s nice list! We hope to see you next year.
For more information about Stirling’s Stewardship Committee, please visit our website or contact us by email at stewardship@stirlingprop.com.
Jill Meeks Appointed as President of Mobile Commercial Investment Real Estate Club
Stirling Properties’ Senior Sales and Leasing Executive, Jill Meeks, has been appointed as President of the Mobile Commercial Investment Real Estate Club. She assumed duties in early December and will serve in the position for one year.
The Mobile Commercial Investment Real Estate Club is a networking group for industry professionals to exchange ideas, insight and data on marketing information regarding commercial and investment property among its members. Club goals include promoting professionalism, co-operation and education in commercial, investment and exchange transactions.
As club president, Meeks’ responsibilities will include running the weekly meetings and arranging for speakers to attend and present educational opportunities for the members. Meetings occur every Thursday at 7:00 am at the Mobile Area Association of Realtors.
“The Mobile Commercial Investment Real Estate Club provides tremendous resources for both beginning and experienced real estate professionals, and it’s a great tool to network and meet others in the industry,” said Meeks. “As president of the club, I hope to be able to generate more interest and participation by arranging for various speakers from the community to attend our meetings that will be beneficial to members.”
Meeks has been active in the commercial real estate industry for more than 27 years. Her focus areas include office and retail leasing, commercial sales, and landlord and tenant representation. She is responsible for overseeing the property management of over 400,000 square feet of retail and office space in Mobile and Baldwin Counties.
Jill Meeks works out of Stirling Properties’ Mobile Office located at One St. Louis Centre, 1 St. Louis Street, Suite 4100 in Mobile. For club membership and information, Meeks can be reached at (251) 375-2499 or jmeeks@stirlingprop.com.
Retail Brokers Network (RBN) Names Chris Abadie As New President Elect
Stirling Properties’ Vice President and Manager of Commercial Brokerage, Chris Abadie, has been named 2017 President Elect of the Retail Brokers Network (RBN). He will assume the position on January 1, 2017.
The Retail Brokers Network (RBN), one of the nation’s largest retail real estate networking groups, announced the formation of the new Executive Committee to help facilitate RBN’s ongoing operations. The announcement was made following the organization’s mid-year meeting in Charleston, South Carolina.
The Executive Committee will be responsible for overseeing the Tenant, Restaurant and Investment Sales Councils as well as the Regional Directors, marketing RBN to customers and new member offices, implementing systems to increase activity within the network, financial management, and planning RBN’s participation in ICSC RECon.
“I am honored to serve as President Elect of the Retail Brokers Network,” said Abadie. “I am confident that my experience and professional knowledge give me the skill set to help position RBN as a valuable tool for its members and clients, and help them succeed in all their real estate needs and goals.”
Abadie has more than 16 years of experience in commercial real estate. Previously a Retail and Investment Sales Broker, his current focus at Stirling Properties includes directing sales efforts, new business development, recruitment and training of new agents. Abadie holds the designations of Certified Retail Property Executive (CRX), Certified Leasing Specialist (CLS), and Certified Commercial Investment Member (CCIM).
He is an active affiliate in the International Council of Shopping Centers (ICSC), the Louisiana CCIM Chapter, and the Commercial Investment Division of the New Orleans Metropolitan Association of Realtors (CIDNOMAR). Abadie is also an active member of RBN, serving as a member of the National Executive Committee, as well as representing Stirling Properties on the Tenant, Investment Sales, and Southeast Region Councils. Upon serving as President Elect next year, Abadie is slated to assume the role of President in 2018.
According to Debbie Currier, President of RBN, “The RBN network represents over 600 retail specialists across the US that help individuals and companies meet their real estate goals locally and nationally and our newly formed Executive Committee will provide the leadership structure that will help make RBN even more successful as we continue to grow.” She added, “I’m thrilled to welcome the Executive Committee members and I’m eager to work with them to accomplish our goals for 2017.”
Members of the new Executive Committee are former Regional or Council Directors that have an in-depth knowledge of the organization. The members of the 2017 committee are:
President – Debbie Currier
Currier Properties – Charlotte, North Carolina
President Elect – Chris Abadie
Stirling Properties – Covington, Louisiana
VP Operations – Tom Bruss
Commercial Property Associates – Milwaukee, Wisconsin
VP Marketing & Communications – Brad Umansky
Progressive Real Estate Partners – Rancho Cucamonga, California
VP Finance – Bryan Holt
Southpace Properties – Birmingham, Alabama
Secretary – Rob Samtman
Equity Retail Brokers – Plymouth Meeting, Philadelphia
Immediate Past President – Chuck Lanyard
The Goldstein Group – Paramus, New Jersey
Congratulations to Paul Mastio for being selected as one of New Orleans CityBusiness’ 2016 Money Makers!
CityBusiness’ Money Makers recognizes financial professionals whose fiscal work has set the pace for their company and the region. Honorees were selected based on industry and community involvement, and achievement through their energy and innovative ideas.
“CityBusiness commends its Money Makers for the professional standards they follow as well as for the new ones they are setting,” said Natalie Chandler, Editor of CityBusiness Magazine. “This year’s honorees have not only established their institutions as solid businesses but have also worked to provide help to the community where it’s needed the most.”
Paul Mastio has been a leader and integral part of Stirling Properties’ accounting team for the last 23 years. As CFO, he is responsible for all aspects of the company’s accounting & IT team, operations, processes, and reporting functions across our Gulf South service area.
“I’ve always been great with math and numbers, so when I got into the accounting field, I found it worked well for me,” he said. “I can really make a difference with analysis and reporting, and when I do a report for an owner or investor that saves them money, it feels good.”
Marty Mayer, Paul Mastio, Jeff Marshall
Paul’s role with Stirling Properties is crucial to our success and growth. He is passionate about the company and is always looking to make improvements, save money and assist in our development. “I really enjoy digging into financials or operations and helping the company to be more cost-effective,” he said. “Every day is a huge handbag of new and different tasks in accounting to solve, and that is what motivates me.”
Currently, he is working to implement new commercial transaction software that will simplify work processes for both commercial agents and employees. Paul notes, “I understand the back-end processes of software and how make it work for us so we can be more efficient, report information earlier, and pay our agents quicker. We also pay hundreds of vendors a month, and before, our workflow was condensed into two maddening days. When we changed to doing things electronically, it evened out the workflow so one person can handle it versus two or three. It makes a big impact on cost savings and productivities.”
Paul Mastio, Laura Wallace, Judy McKee, Doug Ferguson
He has successfully implemented two major accounting software conversions at Stirling Properties (PMAS and Yardi) which streamlined duties, ultimately saving time and money. He now serves as a member of the Yardi Property Management Systems Users Group and has guided other former PMAS users to the Yardi system. He is also a Certified Information Technology Professional (CITP) from AICPA.
Paul is heavily involved in coordinating the annual Stirling Olympics fundraiser. He has also led company efforts to support many nonprofit events such as Northshore Heart Walk, Breast Cancer Walk and ALS Association.
He is directly affiliated with numerous nonprofit organizations, community groups and recreational clubs including ALS Association, Boy Scouts of America, Mandeville Soccer Club and Pelican Park, among many others. He’s volunteered with Habitat for Humanity on the build of three homes, and worked to build local community playgrounds.
Many people have contributed to Paul’s success along the way. “My father was a huge influence on me. Although he was the typical 70s and 80s dad, going to work and bringing home the bacon, he taught me a strong work ethic and to always work hard and do your best,” said Paul. “And all of the partners of Stirling Properties—past and present—have been a blessing in my life, teaching me the ropes of real estate and mentoring me throughout the years.”
When Paul isn’t working—or doing work for others—he attends (and coaches!) his kids’ sporting events. He has five children ages five to 17.
And a little fun fact…he is also building a Shelby Cobra from a kit. “I’ve wanted to build a car since I was 14 years old,” he said. “I’ve been following the industry, went to school to learn to build it, and now it’s finally arriving in my garage this December…..assuming my garage is built by then!”
We congratulate Paul on his tremendous accomplishments, and this much deserved award.
#StirlingProud
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