Helping To Grow The Lafitte Greenway!
Stirling Properties’ Charles Barclay Is a Champion for New Orleans’s Newest Green Space
Mookie Square
The Lafitte Greenway is a 2.6-mile bicycle and pedestrian trail and green corridor that connects neighborhoods from Armstrong Park to City Park in New Orleans. The $9.1 million project broke ground in early 2014 and opened in November of 2015. The Lafitte Greenway significantly transformed one of the most historic areas of New Orleans into a multi-use transportation corridor and linear park.
The Greenway includes a 12-foot asphalt path for cyclists and pedestrians, new recreation fields, green space, and landscaping improvements including approximately 500 shade trees, native plant meadows, bioswales and stormwater retention features. The path is fully lit with LED energy-efficient trail lighting and includes curb extensions, signalized high visibility crosswalks, ADA-compliant curb ramps at sidewalk corners, environmental remediation, a crushed stone walking path, and a bicycle and pedestrian roundabout. Many new retail, restaurant, and entertainment options are also popping up along the Lafitte Corridor.
The Lafitte Greenway runs alongside Mid-City Market, one of Stirling Properties’ premier developments in the Mid-City neighborhood of New Orleans. The center was designed to incorporate extensive pedestrian features and to complement the adjacent Greenway, melding the retail center to the culturally rich urban neighborhood. Stirling Properties has remained a proud and active supporter of the Greenway ever since!
Charles Barclay, Stirling Properties Asset Manager, is currently a member of the Executive Board of Friends of Lafitte Greenway, whose mission seeks to revitalize the Lafitte Corridor. Friends of Lafitte Greenway has been the driving engine behind the construction of the bicycle and pedestrian trail, stretching from the edge of the French Quarter to Bayou St. John. “I have become a real champion of the Greenway and think it’s an excellent addition to the city, as it is beneficial to everyone that lives, works, and plays in the area,” said Barclay.
Photo by GeorgeLong.com
Now that the bike path is complete, Friends of Lafitte Greenway plans to launch several new initiatives and projects throughout the Greenway that will include art installations, healthy living events, guided tours, community gardens, and much more. The organization and its members are working diligently to build, program, and promote the linear park as a great public space.
According to the UNO Transportation Institute, in 2016, the Greenway’s first full year open, an average of 746 people per day used the Greenway in the Jefferson Davis section alone. While this is an impressive number of visitors, there are still so many in the surrounding areas and neighborhoods who do not know of the Lafitte Greenway. “We invite everyone to come out and explore the Greenway and all the events and activities it has to offer. We have everything from yoga to youth educational programs, not to mention the beautiful green space. You can also get involved through various volunteer opportunities,” said Barclay.
Friends of Lafitte Greenway is hosting a FREE, family-friendly event, Hike The Lafitte Greenway, on Saturday, March 25th from 9:30am-2:00pm. The public is invited to participate in a 3-mile guided hike (complete with live music and block party) to learn more about the Greenway. We hope to see you there!
Mid-City Market 100% Leased!
Addition of new retail & restaurant tenants
Stirling Properties commercial real estate company welcomes new tenants to Mid-City Market in New Orleans, Louisiana, and is pleased to announce that the center is 100% leased.
ASI Federal Credit Union will occupy the last remaining 2,541 square feet of space. Build-out of the space is underway, and the company plans to open in January of 2017. This will mark the 2nd Mid-City location for ASI Federal Credit Union.
Previously announced Mr. Ed’s Oyster Bar & Fish House successfully opened earlier this week, marking the 4th location for the popular New Orleans restaurant. It occupied the former Pei Wei Asian Diner space.
Stirling Properties Sales & Leasing Executive, Joe Gardner, handled both transactions.
Located on 6.5 acres at the northwest corner of North Carrollton Avenue and Bienville Street in Mid-City New Orleans, Mid-City Market is a 109,000-square-foot urban infill shopping center. Anchored by Winn-Dixie, the center is home to a diverse mix of local and national retailers and restaurants including Office Depot, Jefferson Feed Pet & Garden Center, Panera Bread, Verizon Wireless, Felipe’s Taqueria, Mr. Ed’s Oyster Bar & Fish House, Five Guys Burgers and Fries, Ochsner Health Center, GNC, Pinkberry, Pizza Hut, Shine Spa + Specialties, LA Nails Spa, and Mariposa Salon & Spa. Stirling Properties developed Mid-City Market and currently manages and leases the center.
Stirling Properties broke ground on the development in early 2012 and celebrated a grand opening in July of 2013. Mid-City Market is Stirling Properties’ largest ground-up retail development in New Orleans and represents one the of the most significant retail developments in the city following Hurricane Katrina. Stirling Properties acquired the vacant, blighted site and returned it to commerce after a $40 million investment. Mid-City Market now serves as the retail and restaurant center of the community, delivering new jobs, new tax revenue and new energy to this vibrant corridor. The retail center is credited with creating over 500 new jobs for the area.
Mid-City Market was designed to incorporate extensive pedestrian features, contextual urban and adaptive reuse architecture, and to complement the adjacent Lafitte Greenway pedestrian and bicycle pathway, melding the retail center to the culturally rich urban neighborhood and extensive architectural history.
“Stirling Properties remains committed to the City of New Orleans and surrounding communities. Our mission is to create economically sustainable retail developments that produce long-lasting benefits to the communities in which they are built—and Mid-City Market is a perfect example of that,” said Grady Brame, Executive Vice President for Stirling Properties. “This center provides services to a great number of local residents and visitors, and is a dynamic economic contributor. We are proud of its progress and success.”
Stirling Properties has been at the forefront of commercial real estate management, investment and development in the greater New Orleans area and surrounding Southeast Louisiana region. Stirling Properties has developed more than 3.7 million square feet totaling $465 million since 2010, and currently has more than 114 million square feet of property and land for sale or lease. Other Stirling Properties management and development projects in New Orleans include, Offices at Mid-City Market, Magnolia Marketplace, Fresh Market and Pan American Life Center, just to name a few.
Stirling Properties Announces New Tenants to Offices at Mid-City Market in New Orleans
Stirling Properties is pleased to announce new tenants Sola Salon and Billes Partners to the Offices at Mid-City Market in New Orleans, Louisiana.
Billes Partners–a planning, project development, architecture, interior design, and graphic design firm–will occupy roughly 3,000 square feet and plans to open by early-March 2016.
Sola Salon Studios, a 4,295-square-foot franchise hair salon plans to open this summer.
Previously announced Gallo Mechanical, LLC and Orangetheory Fitness are currently open and operating. Exceptional Dental and H-3 Aesthetics & Dermatology are on track to open this spring.
A formal ribbon cutting ceremony is being planned and will be announced in the near future.
Offices at Mid-City Market, is a 54,000 square foot, mixed-use complex in the burgeoning Mid-City neighborhood of New Orleans. Located adjacent to Stirling’s recently completed Mid-City Market development, this building was originally constructed in 1954 and was most recently the home of Loubat Foodservice Equipment Company. Throughout the course of this development, Stirling Properties has maintained the historic integrity of the existing structure while renovating the interior into a combination of office and retail space and consequently brought a prominent neighborhood building back into commerce.
For more information and leasing opportunities for Offices at Mid-City Market, contact Joe Gardner at jgardner@stirlingprop.com or 504-620-8140.
Stirling Properties Completes Acquisition and Financing to Develop Offices at Mid-City Market in New Orleans
Stirling Properties is excited to announce the execution of development financing and construction commencement for the Offices at Mid-City Market, a 54,000 square foot, mixed-use complex in the burgeoning Mid-City neighborhood of New Orleans
The Offices at Mid-City Market will feature approximately 31,000 square feet of prime office space along with 9,000 square feet of retail and restaurant space. The building design will include parking, additional greenspace and water management. Prior to closing the construction loan the building was nearly 50% pre-leased.
Gallo Mechanical, LLC, a leading mechanical contracting company in the Gulf South, will be the first office tenant, encompassing 16,000 square feet. Gallo is relocating their corporate headquarters from Metairie to New Orleans. “We are excited to be moving our headquarters back to New Orleans as we celebrate our 70th anniversary this year!” stated David Gallo, President and CEO. Orangetheory Fitness, a fitness studio that specializes in hour-long group interval training workouts, will open their first Louisiana location at Offices at Mid-City Market comprising of 3,000 square feet.
“We are excited about the ability to continue the enhancement of the quality of life in Mid-City, one of New Orleans’ many unique and exciting neighborhoods,” stated Lewis Stirling, Executive Vice President for Stirling Properties.
Located adjacent to Stirling’s recently completed Mid-City Market development, this building encompassing an entire city block was originally constructed in 1954 and was most recently the home of Loubat Foodservice Equipment Company. Stirling Properties plans to maintain the historic integrity of the existing structure while renovating the interior into a combination of office and retail space and thus bringing a prominent neighborhood building back into commerce.
Fidelity Bank of New Orleans provided financing and Stirling will utilize the same architectural firm that designed Mid-City Market, VergesRome Architects. Ryan Gootee General Contractors will commence construction in April and the first tenants will take occupancy before the end of this year.
Stirling’s recent projects in New Orleans include: Magnolia Marketplace, a 106,000 square-foot shopping center located at the corner of S. Claiborne Avenue and Toledano Street; Mid-City Market, a 108,000 square-foot Winn-Dixie anchored shopping center located at North Carrollton Avenue and Bienville Street; as well as the full renovation of the former American Legion building located on Magazine Street into a new 13,000 square foot Walgreens Marquee Store. Since 2011, Stirling Properties has invested over $120 million in the City of New Orleans.
For more information and leasing opportunities, contact Mac Bauer at mbauer@stirlingprop.com or 504-620-8131.
President’s Message: Forging Ahead in 2014
It hardly seems possible that we are beginning another year. It seems as if I was just emailing about the start of “Lucky 13“!
“Lucky 13” kicked off with our announcement of a joint venture with CBL & Associates Properties, Inc. to develop Fremaux Town Center in Slidell, Louisiana, and in just 2 months, we will have the grand opening of Phase I. The year ended with the successful closing of the land acquisition and development financing for Magnolia Marketplace in New Orleans, a partnership with JCH Development that will break ground this month.
In between those 2013 bookends, we also accomplished:
- Openings of Walgreens on Magazine Street in New Orleans and in Gulfport, MS
- Securing contract for management of Louisiana Boardwalk in Bossier City
- Grand opening of Mid-City Market in New Orleans
- Opening of our Mobile, AL office
- Expansions of our existing shopping centers – Stirling Bossier, Stirling Lafayette, River Chase (Covington) and MacArthur Village (Alexandria)
- Renovation of Tiger Manor Apartments in Baton Rouge
- Financing of over $174 Million
- Acquisition of United Plaza VIII in Baton Rouge
As proud as I am of our team for all of these accomplishments and more, I am even more proud of the spirit of team and caring for others. Through the leadership of the Stirling Stewardship Committee, the Stirling team significantly contributed money, essential items, and most importantly generously volunteered their personal time for causes such as Habitat for Humanity, food collection drives, breast cancer walks, YMCA Corporate Cup and Volunteers of America’s Christmas Wish Project.
It is because of this talented, dedicated, and motivated team that we are able to achieve so much. I am proud to be part of such a team. Looking ahead to 2014, it will be a very exciting year for Stirling as well as the Gulf South.
New Orleans Retail is on the Rise
Mark Twain once quipped “History doesn’t repeat itself, but it does rhyme”. The Crescent City has been America’s boomtown before, but this time, something is different. Aided by tech, medical and digital media job growth, infrastructure improvements, rising tourism and political reform, the City has become a magnet for young educated professionals, and retailers have noticed.
Selected New Orleans Rankings
In recent history, aging infrastructure and crime crippled economic development. While Hurricanes Katrina and Rita were physically devastating to the region, they also uncovered social and political issues that needed to be rectified. Federal funds flowed to improve infrastructure. With that came oversight and political reform. The private sector rolled up their sleeves and made bold choices to invest in the city and its unique culture.
Together this created a higher demand than the current supply of Retail can absorb. As reported by The New Orleans Business Alliance, the city currently is losing $1.9 Billion in retail sales annually to neighboring parishes where traditional retail development has flourished. While some sections of the city still are recovering, the city’s core has experienced a great demand for development and re-development. “New Orleans was once considered a market that offered the worst to retailers. Today retailer activity and interest are at an all-time high,” stated Townsend Underhill, Senior Vice President at Stirling Properties.
Luxury retail is on the rise. The Shops at Canal Place, anchored by Saks Fifth Avenue, has experienced double digit sales growth in each of the last four years. Recent openings include J. Crew, Allen Edmonds, Michael Kors and Lululemon, with Tiffany and Company slated to open in November. “It is clear that New Orleans is experiencing nothing short of a Renaissance,” stated Brandon Berger of The Berger Company, owner of Canal Place. “Canal Place is well positioned as the only Luxury Mall between Houston and Atlanta. The higher end the item the retailer carries, the higher their sales volume.” In addition H&M will open a 32,000 square-foot French Quarter location in late October, their first in the United States outside of New York and Boston to offer home goods as well as soft goods.
The Outlet Collection at the Riverwalk – Rendering
The Outlet Collection at the Riverwalk, an upscale outlet center downtown near the French Quarter and Warehouse district, is scheduled to open in 2014. At 250,000 square feet, it will serve both locals and tourists and is billed as the only Outlet Center in a downtown setting in the U.S. Mark Bulmash, Vice President of Development at the Howard Hughes Corporation and Developer at Riverwalk added, “A few years ago, retailers would ask the question, ‘Why New Orleans?’ Today the question is, ‘Why aren’t we in New Orleans?’”
South Market District – Rendering
The Warehouse District in the CBD has transformed from blighted space into a vibrant neighborhood. The 40,000 square-foot Rouses Grocery opened in 2011 and was influential in making the area a true neighborhood. While condominium conversion is still underway, new construction mixed-use projects are also taking shape. The South Market District by the Domain Companies is under construction. Phase I will open late 2014 featuring 209 residential units and 22,000 square feet of Retail. Once complete, the project will include over 600 residential units and 170,000 square feet of retail located along the streetcar line and walkable from downtown Class A office buildings and the Superdome.
Mid-City Market
The 107,000 square foot Mid-City Market developed by Stirling Properties opened in July. Anchored by Winn Dixie, the site marks the entry into New Orleans for some notable restaurant chains like Panera Bread, Pei Wei, and Five Guys, and filled the void for much needed goods and services in the Mid-City neighborhood. Whole Foods will enter Mid-City as well with a store currently under construction on Broad Street that will mark their third location in the New Orleans metro.
Big box stores and Jr. Anchors that traditionally were kept out of the city for lack of developable land have found a limited opportunity to penetrate the market. Costco has completed its first Louisiana location with a 148,000 square foot store located near the population center. Wal-Mart has two Supercenters under construction in Gentilly and New Orleans East, 110,000 square feet and 180,000 square feet respectively. Magnolia Marketplace, scheduled to break ground in January 2014, will be the only true Power Center on the Eastbank of New Orleans and will offer Jr. Anchors the chance to gain access to the local market for the first time.
Development projects in virtually all areas of the city will allow retailers to penetrate a market previously thought impenetrable. Additional growth of mixed-use and street retail projects will offer more opportunities for the growing retail sector and will cater to the urban population and tourists. From luxury to discount, retail is hot in New Orleans and investors, lenders, developers and retailers are working hard to gain a presence.
This article was submitted to Southeast Real Estate Business magazine. An edited version appeared in the October 2013, Volume 14, Issue 7 print edition.
