Stirling Properties Gains Management of Louisiana Retail Center
The company will be managing the 327,000-square-foot shopping center, formerly known as Colonial Pinnacle Nord du Lac.
By Evelina Croitoru
Baton Rouge, La.—Stirling Properties received management assignment for Pinnacle Nord du Lac retail center in Covington, La. Corporate Realty handles leasing for the property formerly known as Colonial Pinnacle Nord du Lac.
The 150-acre shopping center owned by Dallas-based Cypress Equities features 327,000 square feet of existing retail space, as well as 162,000 square feet of future retail expansion planned. At the time of the deal, the retail center was 97 percent occupied with anchor tenants including Kohl’s, Academy Sports + Outdoors, Hobby Lobby and Petco.
“The new ownership group at Cypress Equities is very motivated, and we look forward to working with them to enhance this asset. There is much potential here with plenty of room for future expansion. A new residential component on the neighboring property and future parish developments will also be positive contributors to the success of this center,” Donna Taylor, senior vice president of Asset Management & New Business for Stirling Properties, said in prepared remarks.
Cypress Equities also revealed that the company intends to break ground on Pinnacle Nord du Lac Phase II. The new component will add parking stalls, drive-aisles and 94,500 square feet of new lifestyle shop space. The project is slated for completion in summer 2017.
Video courtesy of Gulf States Real Estate Services
