Stirling Acquires Beck Partners; Expands Eastern Division
Stirling is pleased to announce that it has acquired Beck Partners, one of Northwest Florida’s leading commercial real estate firms and manager of the most commercial square footage in Northwest Florida. With the acquisition, Stirling’s Pensacola office expands and adds a Tallahassee, Florida office.
Stirling’s acquisition of Beck Partners adds 30 commercial real estate professionals, over 1.5 million SF of managed commercial properties, and active brokerage in the State of Georgia.
Stirling CEO, Townsend Underhill, is enthusiastic about the acquisition. “The Beck Team is the strongest commercial real estate team in Northwest Florida. It has been a remarkably rewarding experience getting to know the Beck Team and learning about their outstanding business and culture. Beck’s lines of business and expertise align well with Stirling’s and complement our geography as we continue to grow our presence in the Gulf South. We are excited to have Justin, Stacy, Brice, and the entire organization join the Stirling Family.
Founded in 1981 by Gregg Beck, Beck Partners grew to be one of the most trusted commercial real estate firms on the Gulf Coast. Beck Partners earned local and national recognition from CoStar’s PowerBroker lists, multiple NAIOP of Northwest Florida’s Deal of the Year awards, including Justin Beck, CEO, on InWeekly’s PowerList, and more.
Justin Beck, CEO of Beck Partners, will remain with the Pensacola team as Vice President of the Florida Region, as well as Stacy Taylor, as Regional Vice President who will serve as the Pensacola/ Tallahassee Market Leader, and Brice Pelfrey as Regional Vice President of Asset Management . “We are thrilled to continue our work serving our clients along the Gulf Coast with Stirling,” says Justin Beck. “Our alignment of culture and values makes this merger exciting. Stirling’s depth of resources will provide more opportunities and better outcomes for our teams and clients.”
With this acquisition Stirling will be able to enhance its services to existing clients as well as our new Beck clients. Stirling is poised for tremendous growth throughout the region. Beck is a full service Commercial Real Estate firm specializing in Office, Industrial, Retail, Healthcare and Multi-family properties. Beck’s service offering includes Asset Management, Property Management, Commercial Leasing, Commercial Investment Sales, Development, and Commercial Advisory Services with a focus on markets in the Florida Panhandle, and Southern Alabama.
Beck Partners’ office, located at 125 W. Romana Street, Suite 800 in Downtown Pensacola will take on the Stirling brand with the acquisition. Its telephone number will remain (850) 477-7044. Any properties previously marketed and managed under the Beck Partners brand will transition to Stirling.
New Tenant Announced for Shoppes at University Town Plaza in Pensacola, Florida
Bubba’s 33 to join line-up in new BJ’s Wholesale Club-anchored retail redevelopment.
Stirling Properties and Seritage Growth Properties are pleased to announce that Bubba’s 33, a new-to-market restaurant concept, is coming to the Shoppes at University Town Plaza in Pensacola, Florida. It will join the tenant line-up in the new BJ’s Wholesale Club-anchored retail redevelopment located at 7171 Davis Highway.
Developed by Seritage Growth Properties, the 123,000-square-foot Shoppes at University Town Plaza is positioned at the corner of N. Davis Highway and Creighton Road, previously the site of Sears and Sears Auto.
Bubba’s 33 is a family-oriented sports restaurant and bar by the founder of Texas Roadhouse, featuring stone-baked pizzas, fresh-ground burgers, salads and sandwiches. The restaurant will occupy approximately 7,000 square feet of space on the corner lot of the redevelopment. This marks the first Bubba’s 33 in the Gulf South region. The original Bubba’s 33, which opened in 2013 in Fayetteville, NC, was recognized locally as the Best New Restaurant and Best Sports Restaurant.
Anchor-tenant BJ’s Wholesale Club will occupy roughly 100,000 square feet of retail space. Construction commenced this summer, and the store is expected to open in the first quarter of 2020. The membership warehouse club will feature an extensive selection of fresh foods, a full-service deli and household essentials like paper products, cleaning products, diapers, pet supplies and more. This is the first location for BJ’s Wholesale Club in the Florida Panhandle, and it is expected to bring about 140 jobs to the market.
The Shoppes at University Town Plaza will include 16,200 square feet of additional retail shop space positioned along Davis Highway. Stirling Properties’ commercial advisors Kyle Knight and Darryl Bonner are serving as the project’s listing brokers and are working to fill the remaining space with a great mix of local favorites and new-to-market retailers.
“The Shoppes at University Town Plaza is an exciting new Class A retail project located within a major growth node in Pensacola. We are targeting restaurant users, as well as soft goods and service providers for the residual space that will not only be great additions to the market but strongly complement the successful contiguous retail development,” said Knight. “This project is indicative of Pensacola’s dynamic economic development—from Downtown to the Northwestern areas—and illustrates its potential for sustained growth and evolution.”
Stirling Properties is located at 220 W. Garden St., Suite 802, in Pensacola at the SCI Building. For sales and leasing information, contact Darryl Bonner at 770-335-2828/ dbonner@stirlingprop.com or Kyle Knight at 251-769-8487/ kknight@stirlingprop.com.
Sale of 220 West Garden Office Tower in Pensacola, Florida
Stirling Properties will resume management & leasing of the property
Rendering of proposed exterior renovations of 220 West Garden
Stirling Properties commercial real estate company is pleased to announce the closing on the sale of 220 West Garden (former SunTrust Tower) in Pensacola, Florida. The 95,329-square-foot, 10-story office tower was purchased by Civic Conversations, LLC, which is part of the Studer Family of Companies.
Jason Scott, Sales & Leasing Executive with Stirling Properties, worked on behalf of the seller on the property transaction. Stirling Properties will also resume the management and leasing assignments of the property. Exciting new renovations for the building are expected to commence in November of this year, with completion anticipated for the fourth quarter of 2018.
“We are glad that one of Pensacola’s most iconic buildings is going to continue to serve the Pensacola community in a fresh, new way,” said Scott. “We are equally excited at the opportunity to work with Studer Properties, LLP and its team to provide them with quality management and leasing services that complement Studer’s core mission for improving the quality of life.”
Studer’s plans for the property include a significant capital investment with the goal of turning it into a place for community discussions and dialogue, to host expert speakers on issues important to Pensacola, and create an open public space for citizens to meet and enjoy downtown, and a best-in-class event center.
While most of the building will remain a multi-tenant office tower, the renovation plans include converting the 17,000-square-foot ground floor into a community interaction area with café, lecture space, and an environment for other community gatherings. The existing exterior open space will become an urban plaza for musical events, outdoor movies, and other seasonal activities. The building’s ninth floor will include an observation room for visitors.
Rendering of proposed interior renovations of 220 West Garden
“Our goal has always been to improve the quality of life for people in Northwest Florida. Through our commercial ventures, we hope to help our community and our local businesses be more productive and profitable, which translates to more jobs and a better trained workforce,” said Quint Studer.
“Stirling Properties is proud to retain 220 West Garden as part of our commercial portfolio in the Pensacola region. We look forward to working with the Studers and their organization in its core mission to make Pensacola the best place to live and work,” said Will Barrois, VP & Regional Manager for AL/FL with Stirling Properties.
Stirling Properties is located at 220 West Garden Street, Suite 802 in Pensacola, Florida. Click here for more information regarding our services.
2015: A Big Year for Pensacola
With Stirling Properties’ having an office in Pensacola for just over a year now, I can say it is exciting to experience first-hand the revitalization of downtown Pensacola and the economic energy happening along Florida’s “western gate”. 2015 was a vital year for economic development, job creation and community vitality in Pensacola, Florida.
The most significant single event that is shaping the future of Pensacola’s economy, by creating the most jobs and bringing in the largest investment, is Navy Federal Credit Union’s $850 million two-phase expansion of its Pensacola Campus. Phase 1 of the expansion began in early 2015, and both buildings are expected to be ready for occupancy in June 2016. These buildings will house an additional 2,000 employees. Phase 2’s ground breaking is expected to begin in November 2016 and will bring an additional 5,000 work stations. By 2020, the Pensacola campus will total 2 million square feet of space and $1 billion in capital investment; employing 10,000 people.
Downtown Pensacola saw several major projects that either began or were completed in 2015.
- One Palafox Place is a complete renovation of historic Brent and Blount Buildings. The restoration and redevelopment will transform it into a new live, work play community.
- The Pensacola News Journal building at 101 E. Romana Street was demolished and construction for a $51 million, 260-unit apartment and retail building will begin in early 2016.
- Adjacent to the apartments is a new 52,000 square foot, $15 million YMCA that will be competed in late 2016.
- The Florida Institute for Human and Machine Cognition’s Alcaniz Street headquarters will be ready in March 2016. This expansion will take their office and workspace to 30,000 square feet.
- One51 Main at the Community Maritime Park is complete and ready for occupancy. This 27,000 square foot, mixed-use development on Pensacola Bay will house office, retail and condominium space.
- A 100-room Holiday Inn Express located on Main Street is under construction and will open in late 2016 or early 2017.
The Bluffs, an industrial park near Cantonment, Florida, will host up to 60 individual industrial sites and bring 5,000 new jobs.
A contract with VT Mobile Aerospace to build a $38 million aircraft maintenance and overhaul facility at Pensacola International Airport is setting Pensacola up as an aerospace hotspot. The large hanger facility will begin construction during the second half of 2016 and is expected to create 300 jobs.
Hosted by the University of West Florida’s Center for Entrepreneurship, EntreCon, a two-day conference for entrepreneurs at the Rex Theater, was successfully launched in November 2015. Over 225 people attended and EntreCon 2016 is already scheduled for November.
2016 brings big economic growth opportunities in entrepreneurship, cybersecurity and aviation. I can’t wait to see what else is in store for Pensacola in 2016.
Stirling Properties’ Angela McArthur Secures Two Locations for Five Guys Burgers and Fries
Earlier this month Angela McArthur, Broker Associate with Stirling Properties, closed on two locations for Five Guys Burgers and Fries in Florida.
Downtown Pensacola will be enjoying Five Guys this fall at 440 E Chase St next to Newk’s Eatery, who just recently redeveloped a former Wintzell’s. The second restaurant will be located at 4796 Highway 90, Suite 3, Pace, Florida and will open in the spring. The building is being developed by Trademark Properties of Pensacola and will break ground in the coming weeks.
For more information regarding these transactions contact Angela McArthur at 251-375-2481 or amcarthur@stirlingprop.com.
Stirling Properties Ranks Among Top 10 Commercial Real Estate Firms in Alabama
Business Alabama recently published their 2015 Top Rank issue and I am happy to report that just a year and a half after opening our first office in Mobile, Alabama, Stirling Properties is ranked among the Top 10 Commercial Real Estate Firms in the State of Alabama.
Since establishing our Mobile office in October 2013, we have worked tirelessly to expand our presence throughout Alabama and eastward into the Florida market. Here are a few highlights:
- CEO Marty Mayer delivered last year’s ACREcon keynote address, introducing Stirling Properties and highlighting the rise of the Gulf Coast.
- We acquired John Toomey & Company, Inc., a commercial real estate company in Mobile with over 20 years’ experience, integrating 1.8 million square feet into our existing managed and leased portfolio.
- Just last month, we relocated our Mobile office into a larger 5,100 square-foot space at One St. Louis Centre in downtown Mobile, a building we also manage and lease.
- At the end of 2014, we opened a new office in Pensacola, Florida, in SunTrust Tower, an office building we also manage and lease.
- In the beginning of this month, we were awarded a contract for leasing and property management of Santa Rosa Mall in Mary Esther/Fort Walton Beach, Florida.
We now total over 2.5 million square-feet of managed properties and 34 employees/brokers in Alabama and Florida – in just a year and a half. I am extremely proud of our latest Alabama ranking and, most importantly, what the Stirling Team has accomplished in the Alabama and Florida markets over this short time frame. We are strongly committed to serving the entire Gulf South and look forward to serving our clients throughout Alabama and Florida from our Mobile, Pensacola and Mary Esther/Fort Walton Beach offices.
Stay tuned for another exciting announcement in the next few weeks!
