Stirling Properties Names Saban Sellers As Sales and Leasing Executive
Stirling Properties is pleased to announce Saban Sellers as Sales and Leasing Executive for its Commercial Brokerage Division in New Orleans, Louisiana. Sellers will work from the company’s New Orleans Office located at 615 Baronne Street, Ste 100.
Prior to joining Stirling Properties, Sellers began his career in commercial real estate in 2014 working for NAI Latter & Blum out of Baton Rouge.
Sellers graduated from Louisiana State University’s E.J. Ourso College of Business with a Bachelor of Science in Finance. During his college tenure, Sellers was a member of the LSU Lacrosse team where he also took a position on the team’s Board of Directors as Treasurer.
Sellers can be reached at 504.620.8122 or ssellers@stirlingprop.com.
Tsunami Sushi Coming to Pan American Life Center in New Orleans
First Tenant Announced for First Floor Conversion
to Retail & Restaurant Space
Stirling Properties is excited to announce the addition of Tsunami Sushi to Pan American Life Center, located at 601 Poydras Street in New Orleans’ Central Business District. Pan American Life Center, a premier Class-A office building located at the prominent corner of Poydras Street and St. Charles Avenue, is set to undergo a first floor conversion to retail and restaurant space with more exterior exposure. Tsunami Sushi is the first announced tenant for the conversion with additional deals under negotiation.
The approximately 6,700-square-foot restaurant will be Tsunami Sushi’s fourth location and will open in late 2016. “We think it’s the perfect location for easy access for the neighboring businesses and residents as well as tourists” says Tsunami owner Michele Ezell. Tsunami Sushi is locally and regionally renowned with the success of their Lafayette location and in Downtown Baton Rouge on the top floor of the signature Shaw Center. “Tsunami will serve as the anchor for our conversion of the first floor to retail and restaurants. We are excited about the concept and the energy it will bring to our Pan Am building,” says Grady K. Brame, Executive Vice President at Stirling Properties.
Exciting information regarding the first floor conversion will be announced soon.
Rhonda Sharkawy and Dan Tate, both Sales and Leasing Executives with Stirling Properties, completed the transaction. Ms. Sharkawy represented the landlord and Mr. Tate represented Tsunami Sushi. For more information regarding Pan American Life Center, contact Gaines Seaman at gseaman@stirlingprop.com or call (985) 620-8187.
Stirling Properties Welcomes Thomas Bryan to the New Orleans Team
Stirling Properties is pleased to announce the addition of Thomas Bryan to the Commercial Brokerage Division as Sales and Leasing Executive. Thomas will work from the company’s New Orleans, LA office located at 615 Baronne Street, Suite 100.
Mr. Bryan began his Commercial Real Estate career in 2007 and has since accrued a wealth of knowledge through leasing, sales and property management experience. He is currently responsible for the marketing and leasing of approximately 350,000 square feet of retail space. In addition to his retail landlord representation, Mr. Bryan has worked extensively with national, regional and local retail clients in a tenant representation capacity, including Lee Nail Spa, Alton Lane, Devon & Blakely, School of Rock, and MetroPCS to name a few.
Mr. Bryan is a native of Richmond, VA where he most recently worked as a Sales & Leasing Associate for CBRE. He is a graduate of the College of Charleston with a degree in Business Administration.
Mr. Bryan can be reached at 504-523-4481 or via email at tbryan@stirlingprop.com.
Stirling Properties Welcomes Johnny Tolson to the Lafayette Team
Stirling Properties is pleased to announce the addition of Johnny Tolson to the Commercial Brokerage Division as Sales and Leasing Executive. Johnny will work from the company’s Lafayette, LA office located at 1819 W. Pinhook Road, Suite 200.
Mr. Tolson holds a Bachelor of Arts in Economics as well as a minor in Business and Communications from the University of Arkansas where he was a member of the baseball team. He was also an active member of Phi Theta Kappa, the Leaders on Campus Program, FCA, and involved in philanthropy work through Salvation Army and Samaritans Purse. During his college tenure, Mr. Tolson received the H.M. Ivy Scholarship, Circle of Excellence award, Who’s Who Among Students in American Universities, was an Academic All-American and earned First Team All-Conference and First Team All-Region All Region honors in baseball in 2012.
Representing both Landlord and Tenant needs, Mr. Tolson has gained knowledge and experience in many facets of the industry, including retail, industrial, office and specific site selection work.
Mr. Tolson is currently a member of the Realtors Commercial Alliance (RCA) and the Retail Brokers Network (RBN). He can be reached at 337-572-0275 or via email at jtolson@stirlingprop.com.
Stirling Properties Awarded Contract for Management and Leasing of Manhattan Place Shopping Center in Harvey, Louisiana
Stirling Properties has been awarded a contract to provide management and leasing services for Manhattan Place Shopping Center located in Harvey, Louisiana. The 137,315 square foot shopping center includes Target, Ross Dress For Less, Rue21, Lane Bryant, AT&T and more.
For leasing opportunities contact Rhonda Sharkawy at 504-620-8145 or rsharkawy@stirlingprop.com. For more information on Stirling Properties’ management services visit our website at stirlingprop.com/services/PropertyAssetManagement.
Gulf South Investment Sales
Investment Sales remain a hot segment of the Commercial Real Estate Market in the Gulf South and opportunities continue to present themselves. A strong 2014 has bled over and the pattern is expected to continue.
Historically, local investors were hot on Louisiana, Mississippi and South Alabama earning slightly higher returns than most of the country. National and international investors viewed these markets as “risky” and, while considering properties in Texas and Florida, the Gulf South was too often overlooked, shrinking the buying pool.
In the past several years, that has all changed. Perception is reality, and here in the Gulf South is no exception. Low interest rates coupled with economic indicators stronger than national averages during the economic downturn grabbed the attention of investors from around the country. This led to increased activity from national investors who began seeing the opportunity that exists in these markets.
Six months ago some were asking “will lower oil prices impact the economic fundamentals in this market” and “will that impact pricing” in the Gulf South? The answers are yes and no. Yes, the energy sector does play a part in the economy. No, it has not affected pricing any more than in any other part of the country. Twenty years ago, these answers would not have been the same. Today, the economy of the Gulf South is more diverse than ever with rises in manufacturing, healthcare, technology and tourism making it more stable and attractive to investors. Gone are the days when the Gulf South economy relied so heavily on the energy sector.
Today, instead of overlooking the Gulf South, national investors are seeking out opportunities and considering properties within these markets as comparable to those of other similar markets around the country. While this may not seem to be an accomplishment, it is the first time in decades that these markets have competed on a national stage.
The continued low interest rate environment has caused many Gulf South owners to reconsider selling properties that they may not have in the past. While the so-called “bargains” of a few years ago are not as prevalent and several 2014 sales were done at all-time low cap rates, interest in acquisitions in the Gulf South remains very strong.
In 2014, Stirling Properties closed over $120 million in Investment Sales and is projecting similar numbers in 2015. Our knowledge of the Gulf South, comprehensive in-house brokerage services and proven track record of buying and selling investment properties positions us as the regional industry leaders for investment sales.
