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
Starbucks Open At Pan American Life Center In New Orleans
Stirling Properties commercial real estate company welcomes Starbucks to the Pan American Life Center located at 601 Poydras Street in New Orleans’ Central Business District. A soft opening will be held today, and the coffee franchise will be officially brewing for the weekend.
Stirling Properties acquired the Pan American Life Center in 2010 as part of its expanding portfolio in the New Orleans market. A plan to convert the first floor to retail and restaurant space with more exterior exposure commenced late last year, and the build-out work was completed back in March.
Other tenants on track to join Starbucks on the ground level include Tsunami Sushi (opening late-summer of 2016) and Morris Bart concierge service. Additional retail space is available for lease.
For leasing information, please contact Rhonda Sharkawy, Stirling Properties Senior Retail Leasing and Development Executive, at rsharkawy@stirlingprop.com or (504) 620-8145. For office information, contact Gaines Seaman, Stirling Properties Sales and Leasing Executive, at gseaman@stirlingprop.com or (985) 620-8187.
Stirling Properties Commercial Real Estate Agents Among Top Producers At Annual NOMAR CID Awards Ceremony
Stirling Properties commercial real estate agents were honored during the New Orleans Metropolitan Association of Realtors (NOMAR) Commercial Investment Division (CID) 23rd Annual Achievement Awards ceremony, held Friday, April 8th at the Audubon Tea Room.
Chris Abadie, Rhonda Sharkawy, Gaines Seaman
Leading the way was Rhonda Sharkawy, Senior Retail Leasing and Development Executive, with more than $28 million in sales volume for 2015. Sharkawy was inducted into the CID Hall of Fame after having received the prestigious F. Poche Waguespack Award for highest volume of sales and leases in the greater New Orleans area for the last five consecutive years. She is one of only a handful of women to receive this esteemed award since its inception in 1964.
Gaines Seaman, Sales and Leasing Executive, received the Overall Top Landlord Office Lease, Top Tenant Rep Office Lease and the Overall Top Office Producer, with nearly $19 million in production for 2015.
Joe Gardner, Sales and Leasing Executive, Beezie Landry, Senior Investment Sales Advisor, Sharkawy and Seaman were also among Achievement Award recipients, for obtaining total commercial credit sales and leasing in excess of $2.5 million.
The goal of the Commercial Investment Division (CID) Awards is to review and recognize individual achievement among commercial real estate practitioners who are members in good standing of the New Orleans Metropolitan Association (NOMAR) of REALTORS®.
New Orleans’ Office Market Taking Shape
Gaines Seaman, Sales and Leasing Executive for Stirling Properties, recently contributed an article for Southeast Real Estate Business magazine’s Market Highlight section. The insightful article, entitled “Following Massive Conversions, New Orleans’ Office Market Is Taking Shape,” profiles the bustling office market activity in downtown New Orleans. Check out the excerpt below and click here to read the full article.
“In the past 12 to 18 months, more than 1 million square feet of what used to be considered office space in downtown New Orleans has been converted to retail, hotel, residential or multifamily use. Projects such as 225 Baronne Street, the 1100 block of Tulane Avenue, 600 Carondelet Street, Factor’s Row redevelopment and approximately 130,000 square feet of space at 1250 Poydras Street (a 423,000-square-foot, Class A tower) are just a number of examples. More of this space was unoccupied than occupied at the time of the conversions. The most recent of these conversions, 600 Carondolet Street, resulted in the largest absorption of Class A office space in the market. Additionally, URS, now AECOM, leased approximately 70,000 square feet of space in 1515 Poydras, a 530,000-square-foot building located across from the Mercedes-Benz Superdome. In the central business district (CBD), Class A office occupancy is a healthy 90 percent and average rental rates have increased in the past 12 to 24 months to approximately $19 per square foot. Recently, notable longterm commitments to New Orleans include Shell Oil Co. and FM Services (Freeport McMoRan), both through 2026. Shell Oil anchors One Shell Square, the largest office tower in New Orleans, and committed to occupy half of the 1.3 million-square foot building in 2015. FM Services occupies 210,000 square feet of the 510,000-square-foot Freeport McMoRan Building, also on Poydras Street. Ochsner Health System recently finalized a deal to lease the entire Lord & Taylor Building, measuring 115,000 square feet. The building will be retrofitted, against the current trend in the CBD, from former retail space to office space for Ochsner’s occupancy. The term is estimated to commence in late 2016.”
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’ Commercial Agents among Top Producers at Annual NOMAR CID Awards Ceremony
Stirling Properties’ commercial agents were honored during the New Orleans Metropolitan Association of Realtors Commercial Investment Division’s 22nd annual awards banquet held Wednesday, April 22, 2015 at GW Fins.
Leading the way was Rhonda Sharkawy, who received the F. Poche Waguespack Award for having the highest volume of sales and leases in the marketplace for the year. This is her fifth consecutive year to receive this honor and one of only a handful of women to achieve it since it was created back in 1964. Ms. Sharkawy was also awarded with Overall Top Retail Producer, Top Landlord Retail Lease and Most Transactions. Gaines Seaman received the Overall Top Office Producer Award and the Top Landlord Office Lease. Joe Gardner, Ms. Sharkawy and Mr. Seaman were also among Achievement Award recipients. Stirling Properties received 1st Place and 3rd Place for the Largest Transaction Award.
