Ambassador Town Center 100% Leased!
Stirling Properties and CBL & Associates Properties, Inc. welcome four new tenants to Ambassador Town Center in Lafayette, Louisiana. Developers are pleased to announce the center is now 100% leased!
5 Star Nutrition has leased 1,759 square feet of space, with an anticipated opening in November. This marks the company’s 2nd location in south Louisiana, and 5th location for the state.
Orangetheory Fitness will occupy 3,300 square feet and is expected to open in December. This will be the 4th Louisiana location for the company.
Sprint will occupy 1,286 square feet and anticipates opening later this year.
Newly leased I Love Juice Bar is celebrating its 1st Louisiana location. It will occupy 1,250 square feet and also plans to open later this year.
Rounding out the tenants, previously announced Just 4 Him Men’s Haircut Lounge celebrated its grand opening last week, and Half Shell Oyster House is still on track to open next month. They join 30 other retailers and restaurants that call the shopping center home, including anchor tenants Costco Wholesale and Dick’s Sporting Goods/Field & Stream. Last month, developers also installed a public walking/jogging trail at the site for community use.
“The growth of Ambassador Town Center since its opening six months ago is impressive,” stated Michael Lebovitz, executive vice president, development and administration, CBL & Associates Properties, Inc. “We’re thrilled to add additional national names like Orangetheory Fitness – one of the fastest growing fitness franchises in the country – to our line-up and continue to offer the Lafayette community a vibrant and dynamic lifestyle destination.
“We are extremely proud of the success at Ambassador Town Center,” said Townsend Underhill, Senior Vice President of Development for Stirling Properties. “Getting a retail center of this size 100% leased within 6 months of its grand opening is a huge accomplishment in any community. The progress of this center truly represents the strength of the Lafayette market, especially during this challenging economic time.”
Ambassador Town Center is a roughly 60-acre premier regional shopping and entertainment destination, as well as a vital economic contributor to the area. With more than 430,000 square feet of retail space, the center offers a great variety of national and local shopping and dining options. Most of the retailers opened at Ambassador Town Center are either first-time locations within Lafayette or Louisiana, or both.
Located at the southeast corner of Lafayette’s ‘main-at-main’ intersection, Ambassador Caffery Parkway & Kaliste Saloom Road, the development also includes 5 Star Nutrition, Avalon Salon & Spa, BJ’s Restaurant & Brewhouse, Blaze Pizza, Chuy’s Mexican Restaurant, Costco Gasoline, Dickey’s Barbecue Pit, Five Below, Freddy’s Frozen Custard & Steakburgers, Half Shell Oyster House, I Love Juice Bar, Just 4 Him Men’s Haircut Lounge, Marshalls/HomeGoods, Nordstrom Rack, Off Broadway Shoes, Orangetheory Fitness, Panda Express, Panera Bread, PetSmart, Phone Zone, Professor Bob Beans Coffee Bar & Ice Cream Lab, Red Robin, Sprint, Subway, Tao Asian Cuisine, World of Beer and Verizon.
Stirling Properties and CBL & Associates Properties, Inc. formed a joint venture to develop the center, and construction began in January of 2015. The companies currently manage and lease the property. Ambassador Town Center has been credited with creating approximately 2,200 construction jobs, roughly 1,700 permanent jobs and nearly $9 million annually in sales taxes for the City of Lafayette.
Stirling Properties and CBL and Associates Properties, Inc. Install Public Walking Trail at Ambassador Town Center in Lafayette
Ambassador Town Center developers, Stirling Properties and CBL & Associates Properties, Inc., are pleased to announce the installation of a public walking/jogging trail for the surrounding community.
The new outdoor path borders the 12-acre retention pond located behind Costco Wholesale, which was dedicated to the City of Lafayette as a public greenspace. Roughly ¾ mile, the trail was installed as a municipal amenity along the top of the pond, and was landscaped similar to how river levees are used throughout the state. New fountains were also added to enhance the outdoor space. Additionally, the new trail can be combined with adjacent Beaullieu Park via sidewalk along the recently constructed Lake Farm Drive, offering an interconnected exercise and leisure opportunity. The walking/jogging path is free and open for public use.
“Stirling Properties is committed to the Lafayette community. Our hope is that Ambassador Town Center will become more than just a retail center, we want it to be a true community center,” said Townsend Underhill, Stirling Properties Senior Vice President of Development. “The addition of the walking trail will not only enhance the aesthetics of the area, but will provide local residents and shoppers with a great place to exercise and get some fresh air.”
Ambassador Town Center is a roughly 60-acre retail project anchored by Costco Wholesale and Dick’s Sporting Goods/Field & Stream, consisting of more than 430,000 square feet. Located at the southeast corner of Lafayette’s ‘main-at-main’ intersection, Ambassador Caffery Parkway & Kaliste Saloom Road, the development also includes Avalon Salon & Spa, BJ’s Restaurant & Brewhouse, Blaze Pizza, Chuy’s Mexican Restaurant, Costco Gasoline, Dickey’s Barbecue Pit, Five Below, Freddy’s Frozen Custard & Steakburgers, Half Shell Oyster House, Just 4 Him Men’s Haircut Lounge, Marshalls/HomeGoods, Nordstrom Rack, Off Broadway Shoes, Panda Express, Panera Bread, PetSmart, Phone Zone, Professor Bob Beans Coffee Bar & Ice Cream Lab, Red Robin, Subway, Tao Asian Cuisine, World of Beer, Verizon, and more supporting shops and restaurants to come. Most of the retailers committed to Ambassador Town Center are either first-time locations within Lafayette or Louisiana, or both. At completion, Ambassador Town Center is expected to be the premier regional shopping and entertainment destination, as well as a vital economic contributor to the area.
For more information, please visit stirlingproperties.com or cblproperties.com.
For leasing information, contact Ryan Pecot at 337.572.0246 or rpecot@stirlingprop.com or Tim Gilmore at 423.490.8358 or Tim.Gilmore@cblproperties.com. For information on Ambassador Town Center, please visit ambassadortowncenter.com.
Stirling Properties And CBL & Associates Properties, Inc. Announce New Tenants At Ambassador Town Center In Lafayette, Louisiana
Stirling Properties and CBL & Associates Properties, Inc. welcome new tenants and announce updates to Ambassador Town Center in Lafayette.[vimeo 169295392 w=640 h=360] Ambassador Town Center Aerial Footage.
Half Shell Oyster House will occupy 5,850 square feet of restaurant space, and is the newest addition to the eatery line-up. This will mark the ninth location for the popular seafood restaurant, and the first in Louisiana. Half Shell Oyster House is expected to open in November of 2016.
Newly leased, Just 4 Him Men’s Haircut Lounge—catering to the grooming needs of busy men who want quality service in a comfortable environment—will occupy 1,267 square feet, and is expected to open in September of 2016.
Subway celebrated its grand opening at Ambassador Town Center on Saturday. Freddy’s Frozen Custard & Steakburgers and Panda Express opened their doors last month. Additional tenants are still on track to open later this year, including Professor Bob Beans (June 2016), Verizon Wireless (June 2016), Phone Zone (July 2016), Red Robin (July 2016), Avalon Nails & Spa (July 2016), Tao Asian Cuisine (July 2016), Just 4 Him Men’s Haircut Lounge (September 2016), World of Beer (October 2016), and Half Shell Oyster House (November 2016).
“Ambassador Town Center has continued to thrive since opening earlier this year,” said Michael Lebovitz, Executive Vice President, Development and Administration for CBL & Associates Properties, Inc. “We’re excited to further enhance the customer experience, adding new stores and eateries to the broad range of options already available.”
“Since inception, Ambassador Town Center and its tenants have experienced tremendous success. Restaurants like Chuy’s reported the best opening sales in company history. The City of Lafayette and surrounding communities are supporting and frequenting these retailers, and we are eagerly looking forward to future developments and additions to the center,” said Ryan Pécot, Stirling Properties Senior Retail Leasing and Development Executive.
Stirling Properties and CBL & Associates Properties, Inc. formed a joint venture to develop the center, and currently manage and lease it. With close to 10 decades of retail experience between them, both companies have extensive commercial real estate knowledge, with acclaimed reputations locally, as well as nationally.
Stirling Properties has been at the forefront of commercial real estate investment and development in Lafayette and surrounding areas of South Louisiana, and is committed to bringing quality development and top-notch retailers to the area. Stirling Properties has developed more than 3.7 million square feet totaling $465 million since 2010, almost exclusively in Louisiana. Other Stirling Properties developments in Lafayette include Ambassador Row, Ambassador Row Courtyards, Stirling Lafayette and Village at Southpark, just to name a few.
Ambassador Town Center is a roughly 60-acre retail project anchored by Costco Wholesale and Dick’s Sporting Goods/Field & Stream, consisting of more than 430,000 square feet. Located at the southeast corner of Lafayette’s ‘main-at-main’ intersection, Ambassador Caffery Parkway & Kaliste Saloom Road, the development also includes Avalon Salon & Spa, BJ’s Restaurant & Brewhouse, Blaze Pizza, Chuy’s Mexican Restaurant, Costco Gasoline, Dickey’s Barbecue Pit, Five Below, Freddy’s Frozen Custard & Steakburgers, Half Shell Oyster House, Just 4 Him Men’s Haircut Lounge, Marshalls/HomeGoods, Nordstrom Rack, Off Broadway Shoes, Panda Express, Panera Bread, PetSmart, Phone Zone, Professor Bob Beans, Red Robin, Subway, Tao Japanese Cuisine, World of Beer, Verizon, and more supporting shops and restaurants to come. The center is currently 98% leased and most of the retailers committed are either first-time locations within Lafayette or Louisiana, or both. With its completion, Ambassador Town Center is a premier regional shopping and entertainment destination, as well as a vital economic contributor to the area.
For more information, please visit stirlingprop.com or cblproperties.com.
For leasing information, contact Ryan Pécot at 337.572.0246 or rpecot@stirlingprop.com or Tim Gilmore at 423.490.8358 or Tim.Gilmore@cblproperties.com. For information on Ambassador Town Center, please visit ambassadortowncenter.com.
Stirling Properties and CBL & Associates Properties, Inc. Celebrate Groundbreaking of Ambassador Town Center in Lafayette, Louisiana
Earlier today Stirling Properties, CBL & Associates Properties, Inc. (NYSE: CBL), City/Parish President Joey Durel and other dignitaries commemorated the groundbreaking of Ambassador Town Center, an approximately 425,000 square-foot shopping center anchored by Costco Wholesale. Other major retailers include, Dick’s Sporting Goods, Field & Stream, Marshalls, HomeGoods, Nordstrom Rack, Off Broadway Shoes, Chuy’s, Panera Bread, Freddy’s Frozen Custard & Steakburgers, BJ’s Restaurant & Brewhouse, World of Beer and Blaze Pizza. Most of the retailers committed to the project are either first-time locations within Lafayette or Louisiana, or both. The 58-acre site is located at the corner of Ambassador Caffery Parkway and Kaliste Saloom Road. Construction began this month with a projected opening of March 2016.
“Stirling Properties is excited about our partnership with CBL to develop Ambassador Town Center and believes that this joint venture brings the best possible team together to build this project,” said Stirling Properties’ Senior Vice President of Development Townsend Underhill. “We know this site to be an excellent location for a retail development in this market and we are happy to continue our long and successful development history in the City of Lafayette.”
“Ambassador Town Center is well-located and has attracted a best-in-class retail line-up even before construction commenced,” said Michael Lebovitz, CBL’s Executive Vice President – Development and Administration. “We are pleased to partner with Stirling Properties on this project and are looking forward to announcing additional retailers as the development progresses.”
Ambassador Town Center is expected to create approximately 2,200 construction jobs, 1,000 permanent jobs and generate nearly $9 million annually in sales taxes for the City of Lafayette.
“This project is a sign of Lafayette’s strong economy and our willingness to work with the private sector for needed infrastructure in our community,” stated Joey Durel, Lafayette City-Parish President. “Retailers like those that have committed will be a regional draw for Lafayette, and the public infrastructure that will be built with this project, providing a route parallel to Ambassador Caffery, is necessary for one of the fastest growing areas in the state of Louisiana. Companies make decisions on where to locate based on long-term projections. This decision says that they have confidence in the future of our area.”
“This investment is a reflection of Lafayette’s economic strength and success over the past 15 years. It’s undeniable that entertainment sector, including retail, is one of the pillars of Lafayette’s economic base. Entertainment contributed $2.4 billion to Lafayette’s GDP in 2012; and over the past 10 years the entertainment sector’s GDP has grown 62 percent,” states Gregg Gothreaux, President and CEO of Lafayette Economic Development Authority. “The Ambassador Town Center development will be a shopping destination, not only for local residents but for the region, magnifiying its economic impact.”
For leasing information, please contact: Ryan Pecot, 337.572.0246 or rpecot@stirlingprop.com, or Rodney Gordon, 423.553.8704 or rodney.gordon@cblproperties.com.
Stirling Properties and CBL & Associates Properties, Inc. to Commence Construction on Ambassador Town Center in Lafayette, Louisiana
Development over 90% Leased Prior to Construction Start
Stirling Properties and CBL & Associates Properties, Inc. (NYSE: CBL) announced today a joint venture to develop Ambassador Town Center in Lafayette, Louisiana. The approximately 58-acre site is located at the corner of Ambassador Caffery Parkway and Kaliste Saloom Road. The retail center will be built in one phase and will be approximately 425,000 square feet with major retailers including Costco Wholesale, Dick’s Sporting Goods, Field & Stream, Marshalls, HomeGoods, Nordstrom Rack, Off Broadway Shoes, Chuy’s, Panera Bread and Freddy’s Frozen Custard & Steakburgers. The majority of the retailers committed to the project are either first-time locations within Lafayette or Louisiana, or both. Construction is set to begin this month, with a projected opening of March 2016.
“Stirling Properties is excited about our partnership with CBL to develop Ambassador Town Center and believes that this joint venture brings the best possible team together to build this project,” said Stirling Properties’ Senior Vice President of Development Townsend Underhill. “We know this site to be an excellent location for a retail development in this market and we are happy to continue our long and successful development history in the City of Lafayette.”
“Ambassador Town Center is well-located and is well leased with an outstanding retail line-up,” said Michael Lebovitz, CBL’s Executive Vice President – Development and Administration. “We are pleased to partner with Stirling Properties on this project and are looking forward to announcing additional retailers as the development progresses.”
Ambassador Town Center is expected to create approximately 2,200 construction jobs, 1,000 permanent jobs and generate nearly $9 million annually in sales taxes for the City of Lafayette.
“This project is a sign of Lafayette’s strong economy and our willingness to work with the private sector for needed infrastructure in our community,” stated Joey Durel, Lafayette City-Parish President. “Retailers like those that have committed will be a regional draw for Lafayette, and the public infrastructure that will be built with this project, providing a route parallel to Ambassador Caffery, is necessary for one of the fastest growing areas in the state of Louisiana. Companies make decisions on where to locate based on long-term projections. This decision says that they have confidence in the future of our area.”
Public infrastructure improvements are being funded through a payment in lieu of tax arrangement (PILOT), which includes a new connection between Frem Boustany Road and Kaliste Saloom Road and multiple improvements to the existing road system. Under the arrangement, The Industrial Development Board for Lafayette Parish has agreed to allocate a significant portion of the property taxes that will be created by the development of this project, for a period of up to 12 years, to build the public infrastructure.
For leasing information, please contact: Ryan Pecot, 337.572.0246 or rpecot@stirlingprop.com, or Rodney Gordon, 423.553.8704 or rodney_gordon@cblproperties.com.
