Change in Management and Leasing of Perkins Rowe In Baton Rouge, Louisiana
Stirling Properties announces that Texas-based Trademark Property has purchased a minority ownership interest in Perkins Rowe mixed-use retail center in Baton Rouge, Louisiana, and will be taking on daily management and leasing of the property effective August 1, 2016.
Trademark will be joining Crawfish LLC in the ownership of the high-profile property. Trademark is a full-service real estate firm focused on investments, development and institutional services of experiential, mixed-use and daily needs properties, and will be bringing services of Perkins Rowe in-house.
Stirling Properties currently holds the contract for leasing, sales, and property and construction management services at the center and will be transitioning daily responsibilities to Trademark.
Stirling Properties has managed Perkins Rowe since 2013 and is credited with bringing the property to its full potential. Plagued by a challenging history of financial, legal and construction challenges, Perkins Rowe today is a one-of-a-kind community, shopping and residential center. Stirling Properties successfully increased retail occupancy to nearly 90% and office occupancy remains high at nearly 100%. Property apartments and condominiums are complete and in commerce, and all litigation issues have been resolved. Perkins Rowe is now a leading destination in the metro Baton Rouge area. No other property offers the convenience of living, shopping, eating, and entertainment, without ever getting in your car.
“Our goal was to turn the property around and achieve a positive return on investment for the ownership group. We are extremely excited about where Perkins Rowe is today, and believe this is a great place to turn over management,” said Donna Taylor, Senior VP of Asset Management & New Business Development with Stirling Properties. “We’ve committed a tremendous amount of time and resources to this project—along with the ownership’s financial commitment—to ensure that Perkins Rowe would shine as the premier up-scale mixed-use project it was originally envisioned to be.”
Perkins Rowe is a roughly 710,000-square-foot premier mixed-use retail, office and residential development located at the corner of Perkins Road and Bluebonnet Boulevard in Baton Rouge, Louisiana. Opened in 2007, Perkins Rowe is a strong mix of retail brands and soft goods retail stores, entertainment venues and restaurants.
Perkins Rowe: Excited for the Future!
Earlier this week we announced that Stirling Properties was awarded the contract for Leasing, Sales, and Property and Construction Management for Perkins Rowe. Our entire team is thrilled to work on such a high-profile property in Baton Rouge, Louisiana. The future opportunities at Perkins Rowe are very bright and we are excited to be moving forward in all aspects of Perkins Rowe – Retail, Office, Apartments and Condominiums. We hope you stay tuned for more exciting information to come in the future!
Stirling Properties Awarded Contract for Leasing, Sales and Property and Construction Management of Perkins Rowe
Stirling Properties has been awarded a contract to provide comprehensive leasing, sales, property and construction management services for Perkins Rowe in Baton Rouge, Louisiana, which includes 364,648 square feet of retail, 126,000 square feet of Class A office space and upscale apartments and condominiums.
Opened in 2007, Perkins Rowe is a strong mix of retail brands and soft goods retail stores, entertainment venues and several restaurants. Stirling Properties will be working in conjunction with the current management company to complete the transition.
Exciting information regarding this project will follow in the near future!
Stirling Eight United Plaza LLC Acquires United Plaza VIII in Baton Rouge, Louisiana
Stirling Properties to Exclusively Manage and Lease the Class A Office Building
Stirling Eight United Plaza LLC, an entity comprised of local investors led by Stirling Properties, acquired United Plaza VIII from Wink United Plaza LLC on November 25, 2013. Built in 1993, the 3-story, Class A office building is located at 8641 United Plaza Boulevard in the United Plaza Office Park in Baton Rouge, Louisiana. Stirling Properties’ Sales and Leasing Executive Scott Macdonald represented the buyers and Branon Pesnell of Beau Box represented the sellers.
The exclusive management and leasing of the 52,606 square-foot, 91% leased United Plaza VIII will be handled by Stirling Properties. The ownership group which acquired United Plaza VIII, now owns four buildings in United Plaza Office Park – United Plaza I, United Plaza II, United Plaza VIII and United Plaza XII – totaling over 500,000 square feet with a combined occupancy of 97%. All of these buildings are exclusively managed and leased by Stirling Properties.
“Our acquisition team seized a tremendous opportunity in a market that we know to be a strong performer,” said Grady Brame, Executive Vice President of Stirling Properties. “The acquisition of United Plaza VIII is an excellent investment for the building ownership group and demonstrates Stirling’s commitment to Baton Rouge and our belief in the area’s future growth.”
For more information regarding United Plaza VIII contact:
- Grady Brame at 985-246-3769 or gbrame@stirlingprop.com for acquisition questions.
- Scott Macdonald at 225-201-0142 or smacdonald@stirlingprop.com for leasing opportunities.
Stirling Golf Tournament Raises Money for Mary Bird Perkins Cancer Center
Stirling Properties’ 13th Annual Stirling Invitational Golf Tournament raised $10,000 for Mary Bird Perkins Cancer Center. The scramble-style golf tournament hosted by Stirling Properties was held Monday, October 28th at University Club in Baton Rouge where generous contributions from sponsors and over 125 golfers helped to make the event a success.
Grady Brame, Executive Vice President of Stirling Properties, presented the donation to Todd Stevens, President and CEO of Mary Bird Perkins Cancer Center, during an awards celebration following the tournament.
“Due to the generosity of our tournament sponsors, we are able to once again this year donate to an organization that does so much good work for the people in our region,” said Brame.
Stirling Properties has been able to make over $106,000 in charitable contributions to various organizations over the past 13 years with Mary Bird Perkins Cancer Center being the charitable recipient of the majority of the tournament proceeds. Since 2004, $97,000 has been donated to the center in support of their cancer research and care-giving efforts.
Stirling Communities Update: Tiger Manor Improvements Completed!
Since our last Stirling Communities update, Tiger Manor has come a long way and the renovations are 100% complete! The $1.4 Million in renovations were completed a couple months ago and included these major renovations:
- Complete exterior repaint of all buildings
- New primary entrance road off E. State Street
- Card Access Security Gate Systems
- New management office
- Pool Renovations
- Landscaping and Irrigation
- Parking Lot Repairs
Tiger Manor is currently experiencing a strong summer lease-up season with 5% rental increases on average on the new leases being signed.
