Exit 16 and Rock N Roll Sushi Join Tenant Lineup at Fremaux Town Center in Slidell, Louisiana
Stirling Properties and CBL & Associates Properties, Inc. are pleased to announce and welcome new tenants to Phase II of Fremaux Town Center in Slidell, Louisiana.
Exit 16 women’s clothing boutique has leased 2,223 square feet of space and opened for business last weekend. This marks the 2nd retail location for the Mississippi-based company.
Rock N Roll Sushi will occupy 2,040 square feet of space and is also expected to open early next year. This is the 2nd Louisiana location for the sushi restaurant franchise.
Ryan Pécot, Stirling Properties’ Senior Retail Leasing & Development Executive, handled both transactions.
Previously announced, Albasha Greek & Lebanese Restaurant is still on track to open mid-November, and Smoothie King, Pacific Dental Services and Chipotle Mexican Grill are expected to open in the first quarter of 2017.
Fremaux Town Center, anchored by Dillard’s, Dick’s Sporting Goods, Kohl’s and Best Buy, is a roughly 350-acre regional mixed-use development located at the southwest corner of Interstate 10 and Fremaux Avenue in Slidell, Louisiana. The center includes approximately 635,000 square feet of retail and restaurant options, as well as Springs at Fremaux Town Center’s 296 luxury residential apartment units, and Springhill Suites by Marriott now under construction. Additional phases are coming soon with added retail and office park.
Tenants include Albasha Greek & Lebanese Restaurant (coming late 2016), Allure Spa, Aveda, Bath & Body Works, Bellagio Nail Spa, Best Buy, BJ’s Restaurant & Brewhouse, Books-A-Million, Buckle, Capital One, Carter’s, Charlotte Russe, Cheddar’s, Chico’s, Chipotle Mexican Grill (coming early 2017), Claire’s, Dick’s Sporting Goods, Dillard’s, dressbarn, Felipe’s Mexican Taqueria, Five Below, Five Guys Burgers & Fries, Forever 21 Red, Francesca’s, GNC, Goodyear, Great American Cookie Company, Journeys, Kirkland’s, Kohl’s, LA Fitness, Lane Bryant, LensCrafters, LOFT, Longhorn Steakhouse, Luxe 83, Marble Slab, Massage Envy, Mattress Direct, Michaels, Off Broadway Shoe Warehouse, Pacific Dental Services (coming early 2017), Panera Bread, Payless Shoes, PetSmart, Pier 1 Imports, Rack Room Shoes, Red Robin, rue21, Smoothie King (coming early 2017), Sports Clips, Springhill Suites by Marriott (coming 2017), Starbucks, Tesla (charging stations), T.J.Maxx, Torrid, Ulta Beauty, Verizon Wireless, Versona, Victoria’s Secret, Which Wich and Zales.
Fremaux Town Center is currently 97% leased, and jointly owned by affiliates of CBL & Associates Properties, Inc. and Stirling Properties, LLC. Stirling and CBL manage and lease the property.
For leasing information, contact Ryan Pécot at 337.572.0246 / rpecot@stirlingprop.com or Tim Gilmore at 423.490.8358 / Tim.Gilmore@cblproperties.com.
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 Announce New Tenants and Updates to Phase II of Fremaux Town Center in Slidell, Louisiana
Stirling Properties and CBL & Associates Properties, Inc. are pleased to announce new tenants and updates to Phase II of Fremaux Town Center in Slidell, Louisiana.
Albasha Greek & Lebanese Restaurant will occupy 3,745 square feet and is expected to open in September of 2016.
A new building suite is being constructed on the southeast side near Town Center Parkway, adjacent to Red Robin that will house three additional tenants. Smoothie King will occupy 1,000 square feet, including a drive-thru, Pacific Dental Services will occupy 3,005 square feet, and Chipotle Mexican Grill will occupy 2,225 square feet. All three tenants are expected to open in the first quarter of 2017.
A local Developer has purchased a 1.87-acre tract south of the shopping center and canal on Bill Garrett Road (I-10 Service Road) for the development of a 53,931-square-foot Springhill Suites by Marriott hotel, and will begin construction in the coming months. A new road, called Ruth Garrett Way, and additional utility infrastructure will be constructed to access the site. Ruth Garrett Way will connect Town Center Parkway and Bill Garrett Road, with anticipated completion by the first quarter of 2017.
Previously announced Allure Nail Spa opened late-May. Goodyear and Chico’s are still on track to open in the third quarter of this year.
Construction is complete on Springs at Fremaux Town Center, a 296-unit apartment complex, with residency available. Additional phases are coming soon, including other retail, an office park and Fremaux Park.
Fremaux Town Center, anchored by Dillard’s, Dick’s Sporting Goods, Kohl’s and Best Buy, is a roughly 635,000-square-foot regional mixed-use retail development, located on more than 80 acres at the southwest corner of Interstate 10 and Fremaux Avenue in Slidell, Louisiana. More than 60 retailers and restaurants occupy the center. Tenants currently open and operating include Bellagio Nail Spa, Best Buy, BJ’s Restaurant, Books-A-Million, Carter’s, Cheddar’s, Dick’s Sporting Goods, dressbarn, Felipe’s Mexican Taqueria, Five Guys Burgers & Fries, GNC, Great American Cookie Company, Kirkland’s, Kohl’s, LA Fitness, Lane Bryant, Massage Envy, Mattress Direct, Michaels, Panera Bread, Payless Shoes, PetSmart, Longhorn Steakhouse, Rack Room Shoes, rue21, Sports Clips, Starbucks, T.J.Maxx, Ulta Beauty, Verizon Wireless, Versona. 5 Below, Aveda, Bath & Body Works, Buckle, Capital One, Charlotte Russe, Claire’s, Dillard’s, Francesca’s, Forever 21 Red, Journeys, LensCrafters, LOFT, Luxe 83, Off Broadway Shoe Warehouse, Pier 1 Imports, Red Robin, Tesla (charging stations), Torrid, Victoria’s Secret, Which Wich and Zales.
Fremaux Town Center is currently 95% leased, and jointly owned by affiliates of CBL & Associates Properties, Inc. and Stirling Properties, LLC. Stirling and CBL manage and lease the property.
For leasing information, contact Ryan Pécot at 337.572.0246 / rpecot@stirlingprop.com or Tim Gilmore at 423.490.8358 / Tim.Gilmore@cblproperties.com. For more information regarding our services, please visit us at stirlingproperties.com. For information on Fremaux Town Center, visit fremauxtowncenter.com.
Stirling Properties Closes $47.66 Million Loan On Ambassador Town Center In Lafayette, Louisiana
Stirling Properties commercial real estate company, on behalf of Ambassador Town Center JV, LLC, is pleased to announce the closing of a $47.66 million non-recourse loan on Ambassador Town Center in Lafayette, Louisiana.
Jointly owned by affiliates of CBL & Associates Properties, Inc. and Stirling Properties, LLC, Ambassador Town Center is a roughly 430,000-square-foot regional open-air power and lifestyle retail center located on more than 60-acres at the southeast corner of Ambassador Caffery Parkway & Kaliste Saloom Road.
Capital One Bank served as the lender on the 7-year fixed-rate loan, whose proceeds were used to retire the existing construction loan.
Since the beginning of 2016, Stirling Properties has closed $210 million in debt across its entire portfolio, marking the most debt placed over a 6-month period in its 41-year history.
“Stirling Properties is very pleased to close this loan on Ambassador Town Center. This is the second significant loan we have closed in the last two weeks, and it clearly shows—once again—the strength of the local market,” said Townsend Underhill, Stirling Properties’ Senior Vice President of Development. “CBL and Capital One continue to be great partners to us, and we are proud to work with them.”
Over the past 2 years, Stirling Properties has closed more than $100 million in loans with Capital One.
“It was rewarding to help Stirling Properties, a long-term client, meet its goals in refinancing Ambassador Town Center,” said Tim Smith, a vice president in Capital One’s Commercial Real Estate Group who led the transaction. “We look forward to serving their needs in the future.”
Ambassador Town Center is currently 98% leased. Anchor tenants include Costco Wholesale, Dick’s Sporting Goods, and Field & Stream. Junior anchor tenants include Marshalls, HomeGoods, Nordstrom Rack, Off Broadway Shoes, and PetSmart.
Stirling Properties Closes Loan On Fremaux Town Center In Slidell, Louisiana
Largest Loan in Company History
Stirling Properties commercial real estate company, on behalf of Fremaux Town Center SPE, LLC, is pleased to announce the closing of a $73 million non-recourse loan on Fremaux Town Center in Slidell, Louisiana. This amount marks the largest loan ever closed by Stirling Properties in its 41-year history.
Wells Fargo served as the lender on the 10-year loan. Proceeds from the loan were used to retire two existing construction loans with an aggregate balance of $73.0 million. Earlier this year, Stirling Properties also closed on a $33 million loan with Wells Fargo on the acquisition of Turtle Creek Crossing in Hattiesburg, Mississippi.
“Wells Fargo continues to be a great resource and financial partner for us, helping us to secure more than $100 million in 2016. Together, with CBL, we are fortunate to have such great partners,” said Townsend Underhill, Stirling Properties Senior Vice President of Development. “Stirling Properties is very pleased to close this loan on Fremaux Town Center, and the clear message it sends about the strength of our markets on South Louisiana.”
“Wells Fargo’s Real Estate Capital Markets group is very happy to close this new 10-year “hybrid” loan with this important relationship. It’s a big win for us when we can both innovate and help our customers succeed,” said Gordon Nicol, Managing Director at Wells Fargo Bank, N.A.
Fremaux Town Center is a roughly 635,000-square-foot regional open-air power and lifestyle shopping center located on more than 80 acres at the southwest corner of Interstate 10 and Fremaux Avenue in Slidell, Louisiana, near the city of New Orleans. Anchor tenants include Dillard’s, Kohl’s, Dick’s Sporting Goods, LA Fitness, and Best Buy. Junior anchor tenants include T.J. Maxx, Michaels, PetSmart, Ulta Beauty, Off Broadway Shoe Warehouse, and Forever 21 Red. More than 60 retailers and restaurants occupy the center. Fremaux Town Center is currently 95% leased, and jointly owned by affiliates of CBL & Associates Properties, Inc. and Stirling Properties, LLC.
For more information, visit cbl.com.
