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.
Have no fear, for the death of retail is not near
Beware! Caution! Warning! These are just a few of the wicked things we have heard about brick-and-mortar retail over the last couple of years, but it’s just a bunch of hocus-pocus.
This month, it seems something else is brewing in the industry: optimism. According to a recent survey conducted by the National Retail Federation, Halloween spending is projected to hit $9 billion this year! That’s the second highest in the survey’s 14-year history, just missing last year’s record $9.1 billion in sales. More than 175 million Americans are planning to participate in Halloween festivities, each spending an average of $87, also up from last year.
Despite the myths that still haunt the retail industry, the truth is that overall retail is thriving. Thanks to a robust economy, retail sales have increased year over year since 2015—forecasters are expecting a 4.5% growth for 2018. Consumer sentiment is high, with the index topping 100 for only the third time since January 2004.
Fact-based analysis shows that consumers are still spending; they are merely spending differently. We’ve heard the horror story of the bloody battle between physical stores and e-commerce, but it’s not what it appears to be. In fact, e-commerce still only accounts for less than 10% of total retail sales. Furthermore, over half of those online sales are actually generated by brick-and-mortar retailers!
Many brick-and-mortar retailers are spending billions of dollars on their online platforms and supply chain networks. It’s the brick-and-mortar retailers driving the e-commerce.
Indeed, many once pure-play retailers are now opening brick-and-mortar stores—e-commerce retailers plan to open 800 physical stores in the next five years. Mattress startup Casper is rolling out a brick-and-mortar strategy, men’s retailer UNTUCKit is opening stores across the country, Blue Nile, Peloton, Birchbox, and the list goes on. Even online furniture giant Wayfair is dipping its toe in physical stores. As they say, “If the broom fits, fly it.”
It might sound batty, but research shows 78% of consumers prefer to shop in-store and spend significantly more in physical stores than online. On top of that, e-commerce is expensive. With the high cost of delivery and even higher cost of returns, it is virtually impossible to make a profit through pure online tactics. Successful retailers are maximizing sales by leveraging both brick-and-mortar and online strategies.
Looking a bit down the road, a new holiday forecast offers even more good news. Retailers are poised to rack up their best sales in years this season. Holiday sales between November and January are estimated to grow 5% to 5.6% from last year to more than $1.1 trillion, up from the $1.05 trillion last year, according to Deloitte’s annual holiday retail sales forecast.
So have no fear, the death of retail is NOT near. However, with all of the retail tales of terror, it can be confusing and overwhelming, especially for commercial real estate investors and property owners. Evolution in the commercial real estate industry is creating rapid change. This new landscape is impacting real estate values—presenting both problems and opportunities in the market—and increasing the need for professional real estate guidance for investors and property owners.
That is why Stirling Properties recently formed a new Investment Advisors division that specializes in acquisitions, dispositions, and investment sales of retail assets and other property types.
Stirling Properties’ Investment Advisors division has the depth and breadth of experience to help solve problems and maximize the potential of commercial investment assets. Our team can help to assess the risk and rewards of any asset or investment and guide clients through difficult decisions. Stirling Properties’ Investment Advisors represent a wide range of client types, including private owners, institutional investors, and private equity firms.
October is full of enough frightening experiences, your real estate portfolio doesn’t have to be one of them. If you are unsure how to navigate the complexities of the retail industry or other commercial sectors or are interested in exploring commercial asset opportunities, let our investment advisors help you sort through the cobwebs. Contact one of our experienced agents today.
On behalf of Stirling Properties, we witch you a Happy Halloween!
Halloween at Hammond Square
There’s something brewing at Hammond Square—join us for a family-friendly Halloween scare!
Stirling Properties and Hammond Square announce the 5th Annual Halloween at the Square event on Friday, October 12th from 5:30-7:30pm for children ages 12 and under. The spooktacular event is free and open to the public. Costumes are highly encouraged. Kids are invited to trick-or-treat at Hammond Square’s participating stores that will be stocked with more than 25,000 pieces of candy and prizes throughout the evening! Just look for the Trick-or-Treat Station sign in store windows.
Halloween at the Square is one of Hammond Square’s premier family-friendly community events of the year. It offers Hammond area residents a safe, convenient and fun trick-or-treating experience while providing increased foot traffic and exposure for the many great retail tenants at the shopping center.
Throughout the evening, guests are invited to have free photographs taken with Becky Blount, Hammond Square’s Official Event Photographer. Hay bales and pumpkins will be on display for backdrops, and pictures will be made available on Hammond Square’s Facebook page within a few days of the event. There will also be a Halloween Costume Contest at East of Italy (for kids in costume 12 & under only). Stop by East of Italy during the event and enter to win a $100 e-gift card!
Halloween festivities will take place on Main Street (Palace Drive). Visitors can park and enter the event from any available entryway. Lindsey Palmer, Director of Property Services with Stirling Properties, said, “We are excited about the upcoming Halloween at Hammond Square event and look forward to seeing all the great costumes! As a reminder—to eliminate congestion—we encourage guests to move at their own flow through the shopping center. There is no designated start or stop point. So if the line gets backed up at one Trick-or-Treat station, head on over to the next and come back at a later time. We want everyone to have a relaxed and pleasant experience during the event.”
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 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, AMC Theatres, and Old Navy (coming soon). Stirling Properties redeveloped Hammond Square and currently manages and leases the center.
Connect with Hammond Square on the web at www.hammondsquare.com or “like” us on facebook.com/hammondsquare.
Baton Rouge General Express Care and The Simple Greek Restaurant to Open in LSU’s Nicholson Gateway
LSU announced today that The Simple Greek restaurant and a Baton Rouge General Express Care clinic will fill two retail spaces in the university’s new Nicholson Gateway Development, the newly opened mixed-use development on a 28-acre site of the Nicholson Drive Corridor, between West Chimes Street and Skip Bertman Drive.
The two tenants join anchor retailer Matherne’s Market, fast food restaurant Wendy’s, coffee café Starbucks, apparel store Private Stock and quick-service eatery Frutta Bowls in the roughly 50,000-square-foot retail component of Nicholson Gateway.
The Baton Rouge General Express Care facility will be open seven days a week to the LSU and local community to treat serious, but non-life threatening illnesses and injuries. The clinic will also feature a lab, X-ray machine and an EKG for more serious injuries. For more information, visit BRGexpresscare.com, find on Facebook at Facebook.com/BatonRougeGeneral and follow on Twitter at @BRGeneral.
“If you wake up with the flu or need a few stitches on a Saturday, you don’t have to visit the ER to get high-quality care,” said Edgardo Tenreiro, president and CEO of Baton Rouge General. “BRG Express Care is a convenient, affordable, fast option right around the corner – because the everyday demands of school, work and family don’t stop when you’re sick.”
Opening its first Louisiana location, The Simple Greek is an interactive concept that combines hhigh-quality ingredients, open kitchens and a fun atmosphere to deliver authentic Greek cuisine in a fast casual setting. Inspired by a concept through his CNBC reality television show “The Profit,” The Simple Greek was founded by entrepreneur Marcus Lemonis in 2015.
The LSU Property Foundation, an affiliate of the LSU Foundation, is facilitating Nicholson Gateway. Stirling Properties is serving as the retail developer and leasing broker on the project, working with the prime developer, Georgia-based RISE Real Estate, which specializes in student housing. Stirling Properties will also handle ongoing retail property management.
New this fall, Nicholson Gateway includes 763 units of apartment-style housing for more than 1,500 students, with associated residential support spaces, such as lounge spaces, study areas, community gathering places and retail food service. The project, focused on the largest underdeveloped tract of university-owned property that is adjacent to the campus core, will turn what has traditionally been the back of the campus into an exciting new gateway district while responding to demands for on-campus housing and supporting student success, improving the campus living experience for both undergraduate and graduate students.
For retail leasing information, please contact Dottie Tarleton at dtarleton@stirlingprop.com or 225-922-4253 or Rhonda Sharkawy at rsharkawy@stirlingprop.com or 504-620-8145.
For student leasing information, visit lsu.edu/nicholson. Information about the overall project is available at nicholsongateway.com.
Bonci Pizzeria Coming to The Julia at Saint Charles in New Orleans, Louisiana
Marks 2nd retail tenant leased for new mixed-use development.
Stirling Properties commercial real estate company is pleased to announce that Bonci Pizzeria is coming to The Julia at Saint Charles, an upcoming mixed-use development in New Orleans’ Warehouse District. Bonci will join anchor co-tenant True Food Kitchen in the exciting downtown project.
Rome-based Bonci is a new-to-market international pizza concept by esteemed pizzaiolo Gabriele Bonci. The pizzeria features artisanal pies with daily changing toppings from fresh, locally sourced ingredients on focaccia-style crust cut with scissors. The restaurant will occupy 1,583 square feet of retail space on the Julia Street side of the development. This is the third U.S. location for Bonci, with two restaurants currently operating in the West Loop and Wicker Park neighborhoods of Chicago, IL.
The Julia at Saint Charles will feature over 16,000 square feet of ground floor commercial space including an exciting mix of local, national, and international retail tenants. In addition to the commercial area, the project comprises almost 200 luxury apartments and enclosed parking facility, which will be available to both the residents and public. Construction is underway, and suite delivery is slated for the 4th Quarter of 2018. The development is set to open in the 2nd Quarter of 2019.
Joe Gardner, CCIM and Carly Plotkin, Sales & Leasing Executives with Stirling Properties, are the listing agents for the retail portion of the property, along with Stuart Zall and Gerardo Aguinis with The Zall Company. Len Kareska of LJK Advisors represented Bonci in the lease transaction. The project is being developed by Woodward Interests and Boston’s Audubon Capital Partners. Woodward Design + Build is the contractor on the project (and an affiliate of Woodward Interests).
“We are thrilled to welcome Bonci Pizzeria to The Julia at Saint Charles. And we are looking forward to announcing more great retailers to this space very soon,” said Plotkin. “Bonci is an exciting new-to-market concept—not only for New Orleans but most of the country. This innovative food concept will be a perfect addition to the eclectic culinary scene in New Orleans and surrounding areas.”
For commercial leasing information, contact Joe Gardner, CCIM at jgardner@stirlingprop.com / (504) 620-8140 or Carly Plotkin at cplotkin@stirlingprop.com / (504) 620-8120.
New Container Park (And More!) Coming to Spanish Fort Town Center
Congratulations to Angie McArthur & Jeff Barnes, leasing agents with Stirling Properties, on the launch of “The Fort!”
Stirling Properties is so excited, we can’t CONTAIN it! A new container park called “The Fort” is coming to Spanish Fort as part of the Spanish Fort Town Center mixed-use development in South Alabama.
Spanish Fort Town Center, anchored by Bass Pro Shops, Kohl’s, and JCPenney, is a 230-acre premier master-planned development located at the intersection of Interstate 10 and U.S. Highway 98 in Baldwin County. The center includes 450,000 square feet of retail and restaurant space, an apartment community, hotels, banks, and entertainment options.
Property owners, Dallas-based Cypress Equities, recently broke ground on the addition of a new container park, which will be composed of approximately eight shipping containers that will be repurposed and transformed into functioning restaurants and shops, and will share a common open-air environment where patrons can sit and dine.
Eight of the nine tenants that will operate in the container park have been secured, including Dragonfly Taco Bar, Dickey’s Barbeque Pit, Soul Bowlz, Sno Biz, Deuce Coop, Beakers Coffee, Spanish Fort Pizza Co., and a local craft brewery. The energy and promise of the park resonated with tenants from the minute it launched and lease up was swift. The containers will arrive on site in October. The Fort is expected to open in November of 2018.
Angie McArthur, Broker Associate, and Jeff Barnes, Senior Investment Advisor/Broker Associate with Stirling Properties, serve as the leasing team for Cypress Equities and have been working with the overall Spanish Fort Town Center project since 2015. According to McArthur, great strides have been made to reactivate and move this project forward—from Cypress Equities’ investment in the Pavilion and park to the revitalization of the small shops, and now, the latest addition of The Fort.
She noted that over the last year, Stirling Properties helped to successfully secure more than 44,000 square feet of new leases for the retail center, adding Urban Air Trampoline and Adventure Park, Beauty World (currently under construction next to Kohl’s), Direct Furniture, Oishi Japanese Bar & Grill, and Tots2Teens Fun Salon to the diverse tenant lineup. McArthur and Barnes are also currently in negotiations with various retailers that will add another 30,000 square feet of shopping and dining options to the center.
“Part of the goal behind the launch of the container park last year was increasing foot traffic in the retail center to support the shops and surrounding businesses,” said McArthur. “The addition of this great community space will attract even more patrons and diners to the development and offer family-friendly entertainment options for visitors that will also benefit the surrounding retailers—this will be a true destination location.”
In conjunction with the new container park, Spanish Fort Town Center is also launching “The Village,” a unique boutique retail concept that will consist of small and specialty shops such as food options, fitness providers, clothing, gifts, candles, accessories, and salon services. Spanish Fort Village will deliver a pedestrian- and family-friendly, urban environment unlike anything else in the market area. Leasing for the space is currently underway. These units are located across from Urban Air Trampoline and Adventure Park and The Fort.
Spanish Fort has in the last decade experienced explosive residential growth—Baldwin County continues to be the fastest growing county in Alabama with 49% population growth since 2000—and has become a desirable community for families and new businesses alike. “Retail follows rooftops. We will continue to see even more growth in this area, and retailers will catch up to meet the increasing consumer demands,” added McArthur. “Stirling Properties is proud and excited to be a part of the evolution and growth of Spanish Fort Town Center, and we look forward to announcing more great tenants to come!”
For Spanish Fort Town Center leasing & sales information, contact Jeff Barnes, CCIM, at (251) 375-2496 / jbarnes@stirlingprop.com or Angie McArthur at (251) 375-2481 / amcarthur@stirlingprop.com.
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