Retail Brokers Network (RBN) Names Chris Abadie 2018 President
The Retail Brokers Network (RBN), one of the nation’s largest retail real estate networking groups, has selected Chris Abadie, Stirling Properties’ Vice President & Manager of Commercial Brokerage, as its 2018 President. He assumed office on January 1, 2018 and will serve for a one-year term.
As President, Abadie will be responsible for helping grow the RBN brand, representing RBN at industry related events, recruiting new RBN brokerage offices, and facilitating education, networking, and sharing of brokerage “Best Practices” between the 65+ RBN member offices.
This year, RBN plans to expand the organization by adding affiliated members in major metropolitan markets, as well as in underserved markets across North America. Also, it plans to increase business for members through the coast to coast platform.
“I am honored to have been chosen to serve as RBN President for 2018 and to support our mission of growth for the organization,” said Abadie. “With the dynamic changes to retail real estate across the country, it is more important than ever to have trusted advisors who are the experts in their fields and the geography in which they operate. At RBN, we are fortunate to have a powerful network of independent brokerage companies to rely on. Through that network, our members can offer adept guidance on the real estate needs of clients locally, regionally, and nationally.”
Abadie manages Stirling Properties’ Commercial Brokerage Division and is responsible for overseeing all aspects of commercial operations throughout each of the company’s brokerage offices. His focus includes directing sales efforts, new business development, and recruitment and training of new agents.
Abadie is affiliated with ICSC (International Council of Shopping Centers) and holds the designations of Certified Retail Property Executive (CRX), Certified Leasing Specialist (CLS), and Certified Commercial Investment Member (CCIM). He is a member of the Louisiana CCIM Chapter, the Commercial Investment Division (CID) of the New Orleans Metropolitan Association of Realtors (NOMAR), and RBN.
He served as the 2017 President-Elect of RBN and as a member of the National Executive Committee, Tenant Council, Investment Sales Council, and Southeast Regional Council. Abadie also serves on the East St. Tammany Chamber of Commerce Board of Directors, as well as the Workforce Development Board serving St. Tammany, St. Bernard, and Plaquemines Parishes.
Stirling Properties Announces Louisiana’s #1 Megasite For Future Advanced Manufacturing & Logistics
More than 6,000 contiguous acres primed for development in St. Tammany Parish.
Stirling Properties announces that Bilten Park has been named Louisiana’s #1 megasite for future advanced manufacturing and logistics. Strategically located at the intersection of Interstate 12 and LA Hwy. 434 on the Northshore of the greater New Orleans area, this 6,031-acre site was recently opened for sale/lease and development opportunities. Stirling Properties and CBRE are co-listing the property.
Bilten Park is a premier location for local and national business relocation and growth and is primed to support a diversity of future users. The development-ready site offers unsurpassed amenities such as intermodal accessibility—including 3.5-linear miles of frontage along Interstate 12, proximity to numerous major markets, a regionally unmatched labor force, quality employer base, and superior quality of life. Future infrastructure additions are planned for the site.
As part of the greater New Orleans region, St. Tammany Parish boasts a healthy and cost-effective climate for conducting business. Additionally, the area’s nationally recognized school system, first-rate medical facilities, large population density, and high median income make the community an attractive destination for companies of every size.
Louisiana Economic Development Secretary, Don Pierson, said, “At Louisiana Economic Development, our goal is to secure quality jobs for our citizens, retain and grow companies with existing Louisiana operations, and attract new investments to our state. As we engage in recruitment efforts, development-ready sites are a critical component of success. Today, investors make decisions quickly, and communities must have construction-ready sites. The Bilten Park site is strategically located to provide ready access to logistical infrastructure assets. From highways and railways to pipelines, ports, and airports, Louisiana’s infrastructure advantages are second to none. The Bilten Park site location can also count on the impressive workforce capacity available in St. Tammany Parish and the surrounding area. We are confident it will yield a significant new regional investment.”
Bradley Cook, Sales & Leasing Executive with Stirling Properties, said, “Our local amenities and culture enhance the appeal of this future developments’ success. The quality of life in the New Orleans area is incomparable. We enjoy a year-round calendar of events along with a vibrant art, music, and recreational scene. This site offers much more than a place to do business; it is truly a place to call home! We anticipate ample interest in this unique development opportunity in the usage of office parks, logistics centers, manufacturing facilities, healthcare services, etc. in the near future—from both local and national industries.”
For sales and leasing information, contact Bradley Cook at (985) 246-3720 / bcook@stirlingprop.com, Darin Gosda at (713) 577-1819 / darin.gosda@cbre.com, or Bill Boyer at (713) 881-0919 / bill.boyer@cbre.com.
Stirling Properties Is Pre-Leasing Offices At Spanish Fort Town Center
Stirling Properties commercial real estate company is pre-leasing Offices at Spanish Fort Town Center, a proposed Class-A office building to be located within the Spanish Fort Town Center mixed-use development in Spanish Fort, Alabama. The offices will be situated along Bass Pro Drive on the east side of the center.
The proposed Offices at Spanish Fort Town Center includes the construction of a 2-story office building consisting of roughly 44,000 square feet. The building will feature state-of-the-art construction, efficient floor configurations, and ample surface parking. Adjacent land is available for additional office development phases to meet expansion requirements and demand.
Stirling Properties currently handles leasing for Spanish Fort Town Center. The proposed office development would be owned and managed by the company. Since opening its Mobile office in 2014, Stirling Properties remains committed to expanding its footprint in South Alabama and the surrounding region.
“The Offices at Spanish Fort Town Center will be a great addition to the area. It will be located within walking distance of abundant amenities that already exist as part of the overall Spanish Fort Town Center mixed-use development. This is a great example of the live, work, play development model that is becoming attractive to many companies and employees,” said Jeff Barnes, CCIM, Broker with Stirling Properties.
Spanish Fort Town Center, anchored by Bass Pro Shops, Kohl’s, JCPenney, Urban Air, Fairfield Inn, and Courtyard by Marriot, 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.
Stirling Properties has a diverse portfolio of retail, office, mixed-use, healthcare, and hospitality developments and managed properties across the Gulf South region. The company recently developed a similar office product—Offices at River Chase—in the River Chase mixed-use center located in Covington, Louisiana.
For Offices at Spanish Fort Town Center leasing information, contact Jeff Barnes, CCIM, at (251) 375-2496 / jbarnes@stirlingprop.com or Angie McArthur at (251) 375-2481 / amcarthur@stirlingprop.com.
Stirling Properties is located at One St. Louis Centre, 1 St. Louis Street, Suite 4100 in Mobile, Alabama.
President’s Message: A dog and a birthday celebration.
No, this is not the punchline for a corny joke. These two things have special significance in 2018. They are both symbolic of an exciting and momentous year to come for our company, our region, and our industry. Let me explain.
According to the Chinese Zodiac, 2018 is the Year of the Dog. The Chinese regard the dog as an auspicious animal, and even more encouraging is its characteristic word: Action! Being proactive is essential in keeping up with the change of today’s fast-paced landscape.
As for the birthday, the City of New Orleans is celebrating its Tricentennial Anniversary this year. In typical New Orleans style, there are many festivities planned throughout the year. (More to come.) However, the 300th Anniversary is more than just a party. It’s a celebration and reflection of the past, present, and future of New Orleans and our region as a whole. The Crescent City has quite a unique and colorful history and has undergone tremendous transformation to reestablish itself over the years. Recently, New Orleans has become one of the most remarkable comeback stories in our nation.
Stirling Properties is entering our 43rd year in business. (In dog years, that’s 301 years.) Much like the City of New Orleans, we too have transformed dramatically from where we started to where we are today. The speed of change—mostly resulting from technological advancements—is tremendously affecting not only our business but our entire lives. To me, the pace seems to be moving in dog years. It’s accelerating 7x over what we’ve witnessed in the past! We must learn to adapt to keep stride.
As evidence to our transformation and evolution as a company, last year, we celebrated many major achievements, including our expansion into the healthcare real estate sector, increasing our portfolio to more than 17.8 million square feet of property, and growing our footprint in the Gulf South region.
In 2017:
Stirling Properties acquired the shuttered Louisiana Heart Hospital in Lacombe, Louisiana, out of bankruptcy. We partnered with Ochsner, St. Tammany Parish Hospital, and Slidell Memorial Hospital to repurpose the 205,000-square-foot facility as a post-acute care hospital offering a variety of services including long-term acute care, skilled nursing, and inpatient & outpatient rehabilitation. Anticipated reopening date is in the 3rd quarter of 2018.
We are developing a new Ochsner medical facility at The Grove in Baton Rouge, Louisiana. The $105 million project includes a new 5-story, 206,510-square-foot medical office building and ambulatory surgery center. Stirling Properties is also overseeing a $15 million off-site infrastructure package as part of the project. The clinic will be located along the 1-10 Bluebonnet/Siegen corridor and is expected to open in early 2019.
Stirling Properties served as the landlord representative in the lease with DXC Technology for multiple floors of office space at the Freeport McMoRan Building in New Orleans, Louisiana. The company will initially occupy two floors of the building beginning in January, with future options to lease up to 10 floors representing a total of 178,000 square feet.
The Freeport McMoRan Building will be the permanent operations for DXC Technology’s new Digital Transformation Center in New Orleans, where the company will eventually employ 2,000 professionals. This is the largest economic development deal in the history of Louisiana, and #2 “Deal of the Year” nationally by Business Facilities magazine. The project has been in the works for more than 18 months and was heavily competed for, but New Orleans emerged as the front-runner beating out great cities across the country.
We completed the first phase of the Offices at River Chase in Covington, Louisiana. 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 positioned on 3.5 acres. We also welcomed our first tenants to the space, including Duplantis Design Group and Liberty Mutual.
Just a few weeks ago, in a joint venture with Ochsner Clinic Foundation, we closed on the acquisition of a new rehabilitation hospital in Jefferson, Louisiana. The five-story, 129,875-square-foot medical building will house long-term acute care, inpatient rehabilitation, and a skilled nursing facility.
All of these ventures represent new milestones for Stirling Properties, which we were able to achieve because we altered our strategies and adapted to meet the demands of our industry. This allowed us to take advantage of innovative opportunities that presented themselves. We managed to translate our more than four decades of experience, combined with our talented team, to be successful.
In the same vein, the commercial real estate industry is currently undergoing a radical transformation. The bulk of this change can also be attributed to the fast-paced advancements in technology and digital platforms. Undoubtedly, as we move forward, technological innovation will continue to play a huge role in reshaping our business. Again, we must adapt to survive. As they say, old dogs need to learn new tricks!
2018 is going to be an exciting year. We’re eagerly anticipating the Tricentennial Celebration and the Year of Action (Dog). Stirling Properties is looking forward to new projects in the pipeline, and I’m confident that even more unforeseen prospects will arise that will require the same type of action and flexibility.
Happy New Year,
DXC Technology Signs Lease For Office Space In New Orleans
Stirling Properties Brokers Deal At 1615 Poydras Street
Stirling Properties was recently part of the brokerage team that landed DXC Technology in its new office location in New Orleans, Louisiana. DXC Technology has reached a lease agreement for multiple floors of the Freeport McMoRan Building located at 1615 Poydras Street, across from the Mercedes-Benz Superdome in the city’s Central Business District. Gaines Seaman, Stirling Properties’ Sales & Leasing Executive, represented the building owner in the transaction.
DXC Technology will initially occupy two floors of the building and is expected to begin operations in January of 2018. The company has future options to lease up to 10 floors representing a total of 178,000 square feet of commercial space. Freeport McMoRan Inc. will continue to maintain a major presence in the building and in New Orleans, according to a release issued by Louisiana Economic Development (LED).
The Freeport McMoRan Building will house the permanent operations for DXC Technology’s new Digital Transformation Center in New Orleans, where the company will eventually employ 2,000 professionals in one of the largest economic development deals in the history of Louisiana.
The announcement that DXC Technology had selected New Orleans to establish its Digital Transformation Center was regionally celebrated back in November. This economic development win further solidifies the emergence of New Orleans as one of the top cities for young professionals to live and work, and reinforces the momentum of our area as a major technology hub. Stirling Properties is proud to have been a part of this historic accomplishment for our region.
#StirlingProud
2017 Office Market Survey: Mobile CBD & West Mobile, AL
Stirling Properties is pleased to present the 2017 year-end Mobile Office Market Survey. This report, compiled by Jack Conger and Jill Meeks, Sales & Leasing Executives in our Mobile office, is intended to track average rental rates, occupancy rates, and average absorption rates for West Mobile and the downtown Central Business District (CBD) on office buildings greater than 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 Mobile office market.
All information provided in this report would not be possible without the cooperation of our staff and colleagues and we would like to thank all of those who contributed.
Here’s an excerpt from the Mobile Office Market Survey:
The last two quarters of 2017 saw an increase in investment activity in the area with many notable transactions, redevelopments and sales.
In leasing news, Armbrecht Jackson, LLP has subleased a portion of the Regions Bank space at RSA Battle House Tower and will be vacating the top two floors of Riverview Plaza. The CBD occupancy rates had a slight increase from 68.3% to 70.2%, average rental rate of $17.28, and an absorption rate of .25%.
There were also many exciting economic announcements for Mobile, such as the partnership of Airbus and Bombardier that could bring a second aircraft assembly line to the market, and the decision of steelmaker SSAB Americas to move the headquarters of its American division from Chicago to Mobile. Rest assured, there are more to follow in the coming months and years!
Please click here to view and download the PDF of the Mobile Office Market Survey.
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