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Page 1: RE trends09 COVERS - New Orleans CityBusiness - Gulf Coast

RE_trends09_COVERS 11/2/09 10:35 AM Page 991

Page 2: RE trends09 COVERS - New Orleans CityBusiness - Gulf Coast

ELMWOOD OAKSAs solid as the historic Oaks, this is your new location for your business.

Elmwood Oaks office park consist of four ground level office buildingsin a picturesque location surrounded by historic oaks. Located onEvans Road, between Jefferson Highway and the river, this is anideal location for any business looking for a great environment andclose proxmity to Jefferson, Orleans and St.Charles Parish.

Elmwood Oaks201 Evans Road

Harahan, LA 70123

For Appointments:

Contact Penny Duet 504-330-8962

~~~~~~~~~~~~~~~~~~~~~

~~~~~~~~~~~~~~~~~~~~~

RE_trends09_COVERS 11/2/09 10:35 AM Page 992

Page 3: RE trends09 COVERS - New Orleans CityBusiness - Gulf Coast

RE_trends2009 11/2/09 2:17 PM Page 1

Page 4: RE trends09 COVERS - New Orleans CityBusiness - Gulf Coast

2A New Orleans CityBusiness

The data published in Real Estate Trends is compiled every six months by the CityBusiness research department.

Published by the NOPG LLC 111 Veterans Memorial Blvd., Suite 1440, Metairie, La. 70005 504-834-9292; Fax: 504-837-2258.

Publisher and president: D. Mark SingletaryAssociate Publisher: Lisa BlossmanManaging Editor: Greg LaRoseNews Editor: Christian MoisesAssociate Editor: Autumn C. GiustiArt Director: Alex BorgesMarket Researcher: Jennifer NallAccount Executives: Liz Baldini, Monique Brignac, Jeanne Farrell, Cassie Foreman, Coco Evans Judd Production Manager: Julie Bernard

On the cover: Bryan Burns III, senior vice president forTranswestern, stands in front of 400 Poydras Tower, which sawoccupancy jump from 75 percent last year to 81 percent this year.Photo by Frank Aymami

Real Estate Trends 2009

Area coverage map

Central Business District . . . . . . . . . . . . . . .4 . . . . . . . . . . . 11

Center City . . . . . . . . . . .12 . . . . . . . . . . 14

Eastern New Orleans and Chalmette . . . . . . . .15 . . . . . . . . . . 17

Kenner and St. Charles Parish . . . . .18 . . . . . . . . . . 20

Metairie andEast Jefferson . . . . . . . .20 . . . . . . . . . . 26

North Shore . . . . . . . . . .27 . . . . . . . . . . 31

West Bank . . . . . . . . . . .31 . . . . . . . . . . 32

ListsCommercial leasing companies . . . . . . . . . . . . . . . . . . .34

Commercial property managers . . . . . . . . . . . . . . . . . . . .36

Flex space . . . . . . . . . . . . . . . . . . .38

Shopping centers . . . . . . . . . . . . .40

Business parks . . . . . . . . . . . . . . .45

Warehouse space . . . . . . . . . . . . .47

Contents

RE_trends2009 11/2/09 11:17 AM Page 2

Page 5: RE trends09 COVERS - New Orleans CityBusiness - Gulf Coast

THE CID ACHIEVEMENT AWARDS BANQUET RECOGNIZESITS TOP COMMERCIAL REAL ESTATE PRODUCERS OF 2008

1st Row (left to right): Sandy Preston, Frann Ryan, Meg Carrone CCIM, Rhonda Sharkawy, Kirsten

Early CCIM, Judy Slack, Lucy Chun, Colleen Berthelot CCIM, SIOR

2nd Row: Andrea A. Huseman CCIM, Richard Juge CCIM, SIOR, CIPS, Beth Cristina, ALC

Martin O. Miller III, Sandra Corrigan SIOR, Skip Weber CCIM

3rd Row: Bennett Davis CCIM, Steve Reisig CCIM, David Quinn SIOR

4th Row: Michael Wilkinson, Bobby Talbot CCIM, Bert Duvic CCIM, SIOR

5th Row: Mark Inman CCIM, Gerard Henry SIOR, Greg Riera, Ben Derbes, Schaffer Mickal

Award Winners Not Pictured: James Barse CCIM, SIOR, Michael D’Amico, Duff Friend SIOR,

Joe Gorman III, Trimble Green, Robert Hand, Keith Henry SIOR, Jennifer A. Lee CCIM, SIOR, Peter Lombardo,

Dan Poulin CCIM, SIOR, Brian Rourke CCIM, SIOR, Larry G. Schedler CCIM, Barry Spizer CCIM

COMMERCIAL INVESTMENT DIVISION OF THE NEW ORLEANS METROPOLITAN ASSOCIATIONOF REALTORS® WISHES TO THANK ITS SPONSORS:

SILVER SPONSORSBank of New Orleans

Coldwell Banker Commercial

TEC REALTORS®

Jack Stumpf & Associates, Inc.

Larry G. Schedler & Associates, Inc.

Louisiana REALTORS®

Merrill Lynch/Bryan McClendon

& Edward Malone

RE/MAX Commercial Brokers, Inc.

Red Hot Properties

Sylvia Roy, CCIM

THE STEEG LAW FIRM, LLC

The Stevens Group, Inc.

BRONZE SPONSORS

Artigues Construction Co., Inc.

Beth Cristina, LLC

Crescent Title, LLC

Criterium-Dormady Engineers

Glen Johnston of Johnston Cross

Max J. Derbes, Inc.

Morgan Keegan & Company, Inc.

Prudential Gardner, REALTORS®

Sher Garner Cahill Richter Klein & Hilbert, LLC

Talbot Realty Group

GOLD SPONSORS

First NBC

Stirling Properties, LLC

DIAMOND SPONSORS

Don Randon Real Estate

RE_trends2009 11/2/09 11:17 AM Page 3

Page 6: RE trends09 COVERS - New Orleans CityBusiness - Gulf Coast

4A New Orleans CityBusiness

By Tommy [email protected] Writer

The impressive start to the New OrleansSaints’ season has boosted the morale

of the community. Now an offshoot of TomBenson’s franchise is trying to boost thecity’s real estate market.

In the largest commercial real estatetransaction since Hurricane Katrina, theBenson family, through their companyZelia LLC, bought the 26-story DominionTower office building, the 400,000-square-foot New Orleans Centre mall and a2,000-space parking garage from Californiareal estate firm Hertz Investment Group for$42.1 million. The office building is nowknown as the Benson Tower.

As part of a long-term lease agreementto keep the Saints in New Orleans, thestate has agreed to occupy more than halfof the office space in Benson Tower with800 to 900 workers by July. Benson haspledged $10.5 million to convert NewOrleans Centre into a sports and enter-

tainment venue. Dominion Tower hasbeen empty since the storm except for theLouisiana State University Health ScienceCenter Ambulatory Care Clinic on theground floor.

The Benson family plans to spend about$12.5 million preparing the office space forthe state, plus another $21.7 million repair-ing the storm-damaged property.

“Being a tenant in these buildings is anopportunity for these companies to offertheir employees a high quality of life throughtheir working experience,” said SaintsExecutive Vice President Rita BensonLeBlanc. “Based upon the demand we areexperiencing, we are very confident that thebuilding will be fully leased before it opensfollowing construction.”

The Bensons could not have picked abetter time to enter the downtown officespace market, as office occupancy rates inthe Central Business District are at an all-time high, according to a third-quarterreport by Metairie-based Equity OfficeProperties and leasing director BruceSossaman.

Central Business District and Center CityREAL ESTATE TRENDS 2009

Bryan Burns III, senior vice president for Transwestern,says commercial real estate in the Central Business Districtis in a period of equilibrium between supply and demand.

phot

o by

Fra

nk A

ymam

i

Take yourbusinessto newheights...

Take yourbusinessto newheights...New Garage/Ground FloorRetail Space

For Leasing Informationor a Property TourPlease Call Sandra Corrigan at(504) 566-1400

R e a l t y 1 , L L C

1010 Common

1340 Poydras

For advertising information contact

LISA BLOSSMAN504-293-9226 • [email protected]

REAL ESTATElose pThe CityBusiness Real Estate CloseUp is

sent to our subscribers every Friday.

Be the first to learn about the latest real

estate news and information from the

greater New Orleans region.

Advertise on the Real Estate CloseUp–

we can help link you to your customers.

Only three advertising positionsare available on the Real Estate CloseUp.

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RE_trends2009 11/2/09 11:17 AM Page 4

Page 7: RE trends09 COVERS - New Orleans CityBusiness - Gulf Coast

Real Estate Trends Fall 2009 5A

About 92 percent of premium commer-cial office space, or Class A, was listed asoccupied at the end of the third quarter, upfrom 90 percent the same time a year ago,while 87 percent of Class B office space isoccupied, up from the 86 percent in thesecond quarter of 2009.

Average downtown rents are holdingsteady at $18 per square foot for Class A,while Class B rents average $14.50 persquare foot.

Bryan Burns III, senior vice presidentfor Transwestern, a private national com-mercial real estate company, said his com-pany’s three Class A office buildings indowntown New Orleans have all seenincreased occupancy with 400 PoydrasTower jumping from 75 percent last yearto 81 percent this year; 650 Poydras St.increasing from 75 percent to 85 percent;and 909 Poydras going from 85 percent to97 percent.

The U.S. Government General ServicesAdministration recently signed a lease tomove from the federal building at 500Poydras St. to 650 Poydras St. and occupy65,000 square feet. Burns said they are stillworking on a timeframe, but it should takeplace in 2010.

“The market stats are very strong, weare at a nice equilibrium of supply anddemand, and the market is holdingsteady,” Burns said. “There are a lot ofgood things happening downtown, andthe Benson Tower transaction will helpwith real positive development for thearea around the Superdome.”

But there are still several unoccupiedoffice buildings that haven’t reopened,including Chevron’s former headquartersat 935 Gravier St.

“You would need $25 to $30 persquare foot of rent to make constructionof a new building worthwhile, and we’renot seeing that kind of market comeonline,” Sossaman said. “Chevron wasbuilt as a single-tenant building, and youreally need an owner/user type situationlike we almost had with City Hall to war-rant renovation or construction.”•

“The market stats are very strong,we are at a nice equilibrium of supply and demand, and the market is holding steady.”

Bryan Burns IIITranswestern senior vice president

© 2009 Behringer Harvard

A Premier Locationis Just the Beginning

Energy CentreNew Orleans, Louisiana

This premier address in the

heart of New Orleans’ CBD is

an ideal location for business.

Energy Centre features a

state-of-the-art design with

a superior technological

operating system, and is in

walking distance to the city’s

most sought after destinations.

DiscoverEnergy Centre.

Call Meg Carroneat Corporate Realty,

504.569.2052

RE_trends2009 11/2/09 11:17 AM Page 5

Page 8: RE trends09 COVERS - New Orleans CityBusiness - Gulf Coast

6A New Orleans CityBusiness

Central Business District(ranked by total leaseable square feet)

2009Rank

Building nameAddress

Totalleaseablesquarefeet

Percentoccupied

Quotedrentratehigh

Commonspace

Year built/renovated Floors

Largestblock ofspaceavailable(sq. feet) Availability

Leasing agentLeasingcompanyPhone

1 One Shell Square701 Poydras St.

1,256,991 96percent

$17 17percent

1972/1998/2008

51 24,000 December RussellMarchandCB RichardEllisNew Orleans323-7000

2 Place St. Charles201 St. CharlesAve.

1,004,484 99percent

$20 15percent

1985/ongoing

52 25,000 1/1/10 Bennett K.DavisCorporateRealty Inc.New Orleans582-1416

3 Energy Centre1100 Poydras St.

761,500 90percent

$17.50 NA 1984/2008 39 30,000 June 1 Meg CarroneCorporateRealtyNew Orleans569-2052

4 Pan-AmericanLife Center601 Poydras St.

671,883 86percent

$18 15percent

1980/2007 28 36,595 91,846 Greg S. RieraJones LangLaSalleAmericas Inc.New Orleans585-2678

NA=nt applicable/not available The above information was provided by the companies themselves. Any additions or corrections should be sent on company letterhead to Research, NewOrleans CityBusiness Newspaper, 111 Veterans Blvd., Suite 1440, Metairie, LA 70005.

Place St. Charles – 52 stories of luxury office space with unbeatable amenities make Place St.Charles the most prestigious address to house your business. In the heart of the CentralBusiness District, Place St. Charles offers all the conveniences of the area while being just ashort walk to the French Quarter.

Energy Centre, owned and managed by Behringer Harvard, is located at 1100 Poydras Street in the heart

of the New Orleans’ business district. The 39-story, 761,500 square foot high-rise office tower is construct-

ed of a highly efficient, reflective bronze glass which gives a subtle complement to the hues of the pol-

ished granite facade. Operating hours are 7:00 am to 8 pm Monday-Friday and 7:00 am to 5 pm Saturday.

Amenities include quality tenant finishes, 512 parking spaces within the structure, 466 parking spaces in

the new annex garage and commissioned art throughout the plaza. Crescent Bank & Trust, Allegro’s

Restaurant, sandwich and sundry shop highlight the main lobby.

RE_trends2009 11/2/09 2:10 PM Page 6

Page 9: RE trends09 COVERS - New Orleans CityBusiness - Gulf Coast

Real Estate Trends Fall 2009 7A

Central Business District(ranked by total leaseable square feet)

2009Rank

Building nameAddress

Totalleaseablesquarefeet

Percentoccupied

Quotedrentratehigh

Commonspace

Year built/renovated Floors

Largestblock ofspaceavailable(sq. feet) Availability

LeasingagentLeasingcompanyPhone

5 One Canal Place365 Canal St.

644,127 93percent

$16.50 15percent

1979/1992/2008

32 22,000 couldmake100,000squarefeetavailable

AndreaHusemanCorporateRealty Inc.New Orleans587-1450 ext.225

6 400 PoydrasTower400 Poydras St.

619,714 78percent

$17 NA 1983 33 50,000 120,000 Cres GardnerKyleStephensonBryan BurnsKyleStevensonCres GardnerTranswesternNew Orleans799-3124

7 First Bank &Trust Tower909 Poydras St.

545,157 83percent

$18 NA 1987 36 17,048 90,000 Bryan BurnsCres GardnerKyleStephensonKyleStevensonCres GardnerTranswesternNew Orleans799-3124

8 1515 PoydrasBuilding1515 Poydras St.

529,474 75percent

$17.50 15percent

1983/2008 27 22,679 130,226 Greg S. RieraJones LangLaSalleAmericas Inc.New Orleans585-2678

NA=nt applicable/not available The above information was provided by the companies themselves. Any additions or corrections should be sent on company letterhead to Research, NewOrleans CityBusiness Newspaper, 111 Veterans Blvd., Suite 1440, Metairie, LA 70005.

There’s Only One, One Canal Place Office Tower. Unparalleled CBD leasing opportunities fortop-flight corporations or rising-star businesses; 1,000 – 100,000 sq. ft. of efficiently designedcontiguous space; unmatched amenities and superior maintenance; riverfront location near theFrench Quarter.

1515 Poydras is a 27 story Class A office tower featuring a dramatic main lobby andcovered courtyard four stories high.Location: Landmark presence across from the Superdome offering unsurpassed access

to I-10.Parking: Over 500 spaces in the building and 700 auxiliary spaces allows for a

suburban parking ratio in the CBD.Amenities: Shuttle Van, Restaurants, Conference Room

TOP FLOOR AND VISIBLE GROUND FLOOR SPACE NOW AVAILABLE FOR LEASE

RE_trends2009 11/2/09 2:10 PM Page 7

Page 10: RE trends09 COVERS - New Orleans CityBusiness - Gulf Coast

8A New Orleans CityBusiness

Central Business District(ranked by total leaseable square feet)

2009Rank

Building nameAddress

Totalleaseablesquarefeet

Percentoccupied

Quotedrentratehigh

Commonspace

Year built/renovated Floors

Largestblock ofspaceavailable(sq. feet) Availability

LeasingagentLeasingcompanyPhone

9 1010 CommonBuilding1010 CommonSt.

512,593 80percent

$13.75 15percent

1971/2000 31 45,000 102,518 SandraCorriganRegis Realty ILLCNew Orleans566-1400

10 Entergy Corp.Building639 Loyola Ave.

511,600 96percent

$19 15percent

1983/2007 28 8,004 immediate Bill MoodyPoydrasPropertiesLLCNew Orleans522-2535

11 Freeport-McMoRanBuilding1615 Poydras St.

507,620 93percent

$17 15percent

1984/NA 23 22,500 immediate BruceSossaman450-5074

12 1555 PoydrasBuilding1555 Poydras St.

467,671 99percent

$17.50 15percent

1982/2008 22 3,272 4,991 Greg S. RieraJones LangLaSalleAmericas Inc.New Orleans585-2678

13 Poydras Center650 Poydras St.

453,255 97percent

$18.50 NA 1983 28 5,000 15,000 Bryan BurnsCres GardnerKyleStevensonTranswesternNew Orleans799-3124

DESIGNED BY Skidmore Owings & Merrill, 1010 Common Building is a mixed-use complex that offers

office, retail and restaurant space. The property consists of a thirty-one story office Tower, a fourteen story

Annex with ground floor retail, self-parking on the second through twelfth floors and office space on the

thirteenth and fourteenth floors, and a small three-story structure (cross-over) connecting the Buildings.

THE TOWER AND ANNEX BUILDINGS can offer tenants their own corporate identity/signage. Floor-to-ceil-

ing windows with spectacular views, easy access to major transportation arteries, walking distance to New

Orleans’ finest restaurants, a 532 vehicle self-park garage within the property, 24 hour security, and on-site

management provide for a professional, safe and convenient environment.

1010 COMMON is bounded by South Rampart Street, Gravier Street, O’Keefe Avenue, and Common Street

in the New Orleans Central Business District. Entrance to the garage is located on South Rampart Street.

1615 Poydras • Freeport-McMoRan BuildingA distinctive curved design of green marble and reflective glass forms the 23 story 1615Poydras Building. Located directly across from the Superdome, 1615 Poydras offers theeasiest access to and from the interstate system of any office building in the CBD.Within walking distance of City Hall, civil district courts, hotels and the Superdome and itslarge parking garage. 1615 Poydras features an on-site restaurant, barbershop and drycleaning delivery. As the only locally owned and operated Class A building in the CBD, thebuilding’s experienced management team makes tenant satisfaction its highest priority andprovides some of the highest quality build-outs and finishes available. Great accessibility,excellent parking, and high quality all come together in the 1615 Poydras Building.

1555 Poydras is a 22 story Class A office tower featuring striking silver sawtooth baywindows that double the views. Location: Landmark presence across from the Superdome offering unsurpassed access

to I-10.Parking: Over 500 spaces in the building and 700 auxiliary spaces allows for a

suburban parking ratio in the CBD.Amenities: Shuttle Van, Restaurant, Conference Room, Sundry Shop

RE_trends2009 11/2/09 2:10 PM Page 8

Page 11: RE trends09 COVERS - New Orleans CityBusiness - Gulf Coast

Real Estate Trends Fall 2009 9A

Central Business District(ranked by total leaseable square feet)

2009Rank

Building nameAddress

Totalleaseablesquarefeet

Percentoccupied

Quotedrentratehigh

Commonspace

Year built/renovated Floors

Largestblock ofspaceavailable(sq. feet) Availability

LeasingagentLeasingcompanyPhone

14 1250 PoydrasBuilding1250 Poydras St.

422,890 96percent

$19 15percent

1980/2002 24 11,671 immediate Bill MoodyPoydrasPropertiesLLCNew Orleans522-2535

15 225 BaronneBuilding225 Baronne St.

422,037 0 percent $0 NA 1960/1988 NA NA building isnot open

SandraCorriganRegis Realty ILLCNew Orleans566-1400

16 Amoco Building1340 Poydras St.

378,895 93percent

$14.75 15percent

1977/1997 21 10,000 26,522 SandraCorriganRegis Realty ILLCNew Orleans566-1400

17 Whitney NationalBank Building228 St. CharlesAve.

351,782 96percent

$14.50 15percent

1910/1996 14 2,500 immediate Duff FriendLatter & BlumNew OrleansNA

18 701 Loyola Ave.701 Loyola Ave.

286,560 42percent

$13.50 NA 1953 14 23,612 immediate David R.WrightColdwellBankerCommercialTEC RealtorsNew Orleans566-1777

19 URS Building600 CarondeletSt.

115,000 97percent

$13.50 NA 1926/2005 10 3,146 immediate Bobby TalbotTalbot RealtyGroupNew OrleansNA

20 525 St. Charles525 St. CharlesAve.

100,000 88percent

$16.52 0 percent 1966 4 12,000 immediate Andrea AronsHusemanCorporateRealty Inc.New Orleans587-1450

21 The IP Building643 Magazine St.

84,585 55percent

$16.50 NA 1900/2004 4 20,310 NA Bobby TalbotTalbot RealtyGroupNew OrleansNA

22 K&B Plaza1055 St. CharlesAve.

70,000 95percent

$19 NA 1962 7 3,000 immediate Bennett K.DavisNA

NA=nt applicable/not available The above information was provided by the companies themselves. Any additions or corrections should be sent on company letterhead to Research, NewOrleans CityBusiness Newspaper, 111 Veterans Blvd., Suite 1440, Metairie, LA 70005.

THE AMOCO BUILDING is a distinctive 20 story “Class A” office building highlighted by a black reflective

glass exterior. This distinguished tower is part of the Poydras Plaza mixed use complex. One minute from

the Poydras and Superdome entrance and exit of I-10 Expressway, The Amoco Building provides a central

location to government, legal, corporate and financial centers.

THE TOWER’S INTERIOR and ground floor lobby were recently renovated to enhance the significant

character of the building. The occupancy of the building reflects a premier tenant roster and has clearly

established a strong position within the New Orleans Central Business District.

IDEALLY LOCATED, the Amoco Building has benefited from its convenient access to the work environment

in the CBD as well as easy access to public transportation, the airport, and surrounding communities.

RE_trends2009 11/2/09 2:10 PM Page 9

Page 12: RE trends09 COVERS - New Orleans CityBusiness - Gulf Coast

Central Business District(ranked by total leaseable square feet)

2009Rank

Building nameAddress

Totalleaseablesquarefeet

Percentoccupied

Quotedrentratehigh

Commonspace

Year built/renovated Floors

Largestblock ofspaceavailable(sq. feet) Availability

LeasingagentLeasingcompanyPhone

23 546 CarondeletBuilding546 CarondeletSt.

51,081 100percent

$17 NA 1910/1990 6 0 NA Frederick J.TuftsCrutcher-TuftsCorporationMetairie887-9327

24 Plaza Building230 Loyola Ave.

44,721 0 percent $15 NA 1958/1984 3 44,721 44,721 Michael J.SiegelNA

25 Emeril'sHomebase839 St. CharlesAve.

43,403 100percent

$15 NA 1910/1996 2 0 0 Bobby TalbotTalbot RealtyGroupNew OrleansNA

26 Gravier Place837 Gravier St.

35,074 0 percent $18 12percent

1925/1995 3 12,000 immediate Denise GainesPraveenKailasTower RealtyNew Orleans828-9700

27 400 Magazine St.400-408Magazine St.

33,000 81percent

$12 0 percent 1840/1983 4 4,832 immediate Robert C.HassingerHassingerRealty LLCNew OrleansNA

28 Lee Circle Plaza818 Howard Ave.

27,259 93percent

$14.60 NA 1917/1998 4 1,305 immediate Rick SkeldingStirlingProperties Inc.New OrleansNA

29 Fulton Place901 ConventionCenter Blvd.

26,500 75percent

$23 3,500percent

1985/1990 8 NA NA MauriceKansasCambridgeRealty WestLLCNew Orleans522-0548

30 615 Baronne St.Building615 Baronne St.

25,288 100percent

$13.50 NA 1935/2001 3 NA NA Rick SkeldingStirlingProperties Inc.New OrleansNA

31 300 LafayetteBuilding300 Lafayette St.

20,000 100percent

$16 15percent

1910 / 1984 2 0 NA AndreaHusemanCorporateRealtyNew Orleans587-1450

32 The SecurityCenter147 CarondeletSt.

13,897 40percent

$9.50 14percent

1923/2008 6 6,800 immediate Bob SykesSecurityCenterNew Orleans587-2092

NA=nt applicable/not available The above information was provided by the companies themselves. Any additions or corrections should be sent on company letterhead to Research, NewOrleans CityBusiness Newspaper, 111 Veterans Blvd., Suite 1440, Metairie, LA 70005.

RE_trends2009 11/2/09 11:17 AM Page 10

Page 13: RE trends09 COVERS - New Orleans CityBusiness - Gulf Coast

Real Estate Trends Fall 2009 11A

INTERSTATE 10

Perd

ido

Grav

ier

LaSalle

Tula

ne

S. Claiborne

S. Villere

Cle

vela

nd

N. Villere

Marais

Treme

Crozat

LOYOLA

CAN

AL

S. Liberty

Julia

Giro

d

Julia

Julia

LOYOLA

S. Rampart

O’Keefe

Baronne

Carondelet

Giro

d

Camp

Magazine

N. Rampart

Burgundy

Dauphine

Bourbon

S. Rampart

Magazine

Royal

Exchange Alley

Chartres

Decatur

Julia No

tre D

ame

Fulton

Ferry

Mississ

ippi R

iver

Howa

rd

Baronne

St. Charles

Jose

ph

Jose

ph

Poey

farre

Howa

rd

Julia

Natc

hez

Penn

Baronne

Tchoup

itoulas

Freret

S. Robertson

Carroll

Camp

O’Keefe

CAN

AL

LaSalle

CAN

ALSt. Charle

s

Grav

ier

Carondelet

Clara

POYD

RAS

Magnolia

Convent

ion Cent

er Boule

vard

POYD

RAS ELK PLACE

Lafa

yette

Constance

Picayune Pl.

S. Saratoga

St. Charles

South Peter

s

T choupitoulas

Baronne

University Pl.

Com

mon

N. Robertson

Union

BASIN

Carondelet

N. Claiborne

S. Robertson

SUPERDOME

PON

TCH

ARTR

AIN

EXP

RES

SWAY

Iber

ville

Le

e Circle

Church

Riverwalk

Commerce

30

10

25

24

9

15

11

23

1917

4

6

13

27

5

3

28

2

16

8

12

14

7

29

18

21

3226

1

20

22

31

Central Business DistrictREAL ESTATE TRENDS 2009

MAP

RE_trends2009 11/2/09 11:17 AM Page 11

Page 14: RE trends09 COVERS - New Orleans CityBusiness - Gulf Coast

12A New Orleans CityBusiness

Center City(ranked by total leasable space)

2009Rank

Building nameAddress

Totalleaseablesquarefeet

Percentoccupied

Quotedrentratehigh

Commonspace

Year built/renovated Floors

Largestblock ofspaceavailable(sq. feet) Availability

Leasing agentLeasingcompanyPhone

1 1215 PrytaniaBuilding1215 PrytaniaSt.

119,269 95percent

$16 NA 1952 5 2,500 now P.W. Larsen593-5343

2 BuckmanMedical OfficeBuilding3434 PrytaniaAve.

79,405 80percent

$23 NA 1991 /ongoing

4 5,000 NA Administration .NA

3 AdvancedTechnologyCenter2021 LakeshoreDrive

78,500 80percent

$19 12percent

2001 5 6,057 15,339 Sandi StoneUniversity of NewOrleans Researchand TechnologyFoundation, Inc.New OrleansNA

4 Mid-City Center320 N. CarrolltonAve.

48,000 100percent

$18 12percent

1925/2006 2 0 0 Ernest VergesNA

5 Smith LupoCenter145 Robert E.Lee Blvd.

40,000 95percent

$20 14percent

1971/2006 5 1,029 NA R. Tom LupoNA

6 1820 St.Charles1820 St. CharlesAve.

36,000 100percent

$15.50 NA 1924/2004 2 0 none Bobby TalbotTalbot RealtyGroupNew OrleansNA

7 TheMarketplace atJacksonBrewery400 North PetersSt.

35,000 100percent

$18 NA 1875/1986 2 NA NA Arnold CooperDBIC PropertyManagementNA

8 Norman MayerMemorialBuilding2515 Canal St.

34,594 100percent

$12.50 NA 1957/2006 4 NA NA Valerie HowellUnited WayNew OrleansNA

9 101 Robert E.Lee101 W. RobertE. Lee Blvd.

33,830 86percent

$16 15percent

1982/2008 4 4,880 immediate David WrightColdwell BankerCommercial TECRealtorsNew OrleansNA

10 Uptown Square170 BroadwaySt.

32,825 60percent

$16 NA 1979 3 3,817 13,419 Bert DuvicJoe GormanMax J. Derbes Inc.New Orleans733-4555

11 LakefrontProfessionalOffice Building6305-6307Elysian FieldsAve.

30,606 94percent

$16 NA 1973/2006 4 721 immediate Warren A. AbadieAbadie PropertiesInc.Kenner456-2011

12 4640 Building4640 S.Carrollton Ave.

26,313 86percent

$16.50 12percent

1924/1982 2 2,912 immediate Andrea AronsHusemanCorporate RealtyInc.New Orleans587-1450

NA=not available/not applicable The above information was provided by the companies themselves. Any additions or corrections should be sent on company letterhead to Research, NewOrleans CityBusiness Newspaper, 111 Veterans Blvd., Suite 1440, Metairie, LA 70005.

RE_trends2009 11/2/09 11:17 AM Page 12

Page 15: RE trends09 COVERS - New Orleans CityBusiness - Gulf Coast

Real Estate Trends Fall 2009 13A

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Center City(ranked by total leasable space)

2009Rank

Building nameAddress

Totalleaseablesquarefeet

Percentoccupied

Quotedrentratehigh

Commonspace

Year built/renovated Floors

Largestblock ofspaceavailable(sq. feet) Availability

Leasing agentLeasingcompanyPhone

13 6221 S.Claiborne Ave.Building6221 S.Claiborne Ave.

24,000 95percent

$28 NA 1964/2006 3 1,100 one retailspaceavailable

Lou GoodNA

14 Bienville Place3909 BienvilleSt.

21,000 80percent

$15 10percent

1940/2006 1 2,000 immediate Ernest VergesNA

15 The OfficeSuites at 10501050 S.Jefferson DavisParkway

19,940 90percent

$24 10percent

1948/2000 3 1,388 immediate Edward HalpernThe Office Suitesat 1050New Orleans304-3300

16 506 N. St.Patrick506 N. St.Patrick St.

628 50percent

$11.46 0 percent 2009 1 628 immediate Skip WeberNAI/Latter & BlumInc. RealtorsNew Orleans887-3929

NA=not available/not applicable The above information was provided by the companies themselves. Any additions or corrections should be sent on company letterhead to Research, NewOrleans CityBusiness Newspaper, 111 Veterans Blvd., Suite 1440, Metairie, LA 70005.

RE_trends2009 11/2/09 11:17 AM Page 13

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14A New Orleans CityBusiness

LAKE PONTCHARTRAIN

Lakes

hore

Robert E. Lee

Elysian Fields

Filmore

Harrison

I-610

I-10

Lake

Jeff

erso

n Pa

rish

Orl

eans

Par

ish

Jeff

erso

n Pa

rish

Orl

eans

Par

ish

Pontchartrain Expressway

City Park

Cana

l Blv

d.

Wisn

er

Gentilly

Esplanade

St. BernardOrleans

Canal

Jeff

Davis

Broa

d

I-10

Basi

n

Loyo

la

Ram

part

Poydras

Washington

Earhart

FountainebleauOakClaiborne

Claiborne Claiborn

e

Toledano

Louisiana

Jackson

Earhart

Carro

llton

Broa

dway

Freret

Jeffe

rson

Nap

oleo

n

St. Charles

CCC

Pont

char

trai

n Bl

vd.

Tulane

Roya

l

Martin Luther KingGNO Bridge

Deca

tur

Leon Simon

Magazine

Wes

t End

Mar

coni

2

510

11

14

13

1

7

2

15

8

6

4

16

12

10

Center CityREAL ESTATE TRENDS 2009

MAP

RE_trends2009 11/2/09 11:17 AM Page 14

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Real Estate Trends Fall 2009 15A

By Tommy [email protected] Writer

It’s not the rainbow Wade Verges wasexpecting for the eastern New Orleans

commercial office space market four yearsafter Hurricane Katrina, but it’s a glimmerof hope.

At the end of October, two of Verges’buildings — the Bullard Corporate Centerat 5555 Bullard Ave. and the 5630Crowder Blvd. Building — were fullyoccupied at 100 percent.

“It’s a good sign and it’s a start, but Ithought we would have hit that point a lotsooner in the market,” said Verges, presi-dent of W.T. Verges Development.

“Perception is everything, and we havehad to overcome that,” he said. “From theinterstate, people see dilapidated com-plexes and run-down apartments and fig-ure nothing is back. Few people get off theinterstate, though, and look at the neigh-borhoods returning. There are signs ofprogress out here.”

With some office buildings still notonline and others just using certainfloors for occupancy, it is a challenge toobtain statistics on the eastern New

Orleans office space market, said IvanMiestchovich, director of the Universityof New Orleans Institute for EconomicDevelopment and Real Estate Research.

UNO completed its latest analysis onthe eastern New Orleans market in the fallof 2008, with seven buildings reporting anoccupancy rate of 83.8 percent with110,812 square feet occupied. BeforeKatrina, nine buildings reported to UNOwith tenants using 500,000 square feet foran 88.8 percent occupancy rate.

Miestchovich said office buildingsdidn’t come back online in eastern NewOrleans until about a year after Katrina.

“The area has a long way to go andretail is driven by rooftops,” Miestchovichsaid. “The kind of workers that are need-ed to bring the office market back are legalprofessionals, insurance agents, medicalprofessionals and any service-basedemployment.”

Verges had the Bullard CorporateCenter renovated, and the buildingreceived a boost in 2007 when DaVitaFleur De Lis Dialysis signed a lease tooccupy 10,000 square feet, or about 25percent of the building.

“I have found that the success rate ismuch better and longer with service ten-

ants,” Verges said.The medical community also might

boost the office market. The OrleansParish Hospital Service District recentlyagreed to buy the former MethodistHospital and other health care centers ineastern New Orleans from UniversalHealth Services. Mayor Ray Nagin alsoverbally agreed to build a $1.1 million,5,000-square-foot outpatient clinic onChef Menteur Highway.

Keith Adler, leasing agent forCorporate Realty, which leases retailspace at the still-vacant SchwegmannPlaza East at 6003 Bullard Ave., saidthe key factors for retail and office spaceresurgence in eastern New Orleans arerepopulation and the government’s abil-ity to improve flood protection andrebuild people's confidence in that pro-tection.

“In the retail market, we have momand pops coming online here, and that hasbeen steady,” Adler said. “Their locationsare mirroring where the people havereturned. But national chains, whichanchored some of the retail before thestorm, are not in a big hurry to get backout here because of lack of repopulation.We need that to change.”•

Electrical contractor Mike Zemke, left, WTV Construction foreman Ike Cooper and Wade Verges, president of W.T. Verges Development, discuss progress at the Bullard CorporateCenter in eastern New Orleans.

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RE_trends2009 11/2/09 11:17 AM Page 15

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16A New Orleans CityBusiness

Eastern New Orleans/Chalmette(ranked by total leasable space)

2009Rank

BuildingnameAddress

Totalleaseablesquarefeet

Percentoccupied

Quotedrentratehigh

Commonspace

Year built/renovated Floors

Largestblock ofspaceavailable(sq. feet) Availability

Leasing agentLeasing companyPhone

1 SchwegmannPlaza East6003 BullardAve.

115,000 0 percent $16 NA NA NA 22,050 yes Keith AdlerCorporate RealtyInc.New Orleans581-5005

2 ExecutivePlaza10001 LakeForest Blvd.

114,670 40percent

$12 14percent

1975/2009 11 10,500 Jan. 1 Brandy FrisbyKailas ManagementMetairie837-8644

3 Lake OaksPlaza6600 FranklinAve.

60,000 94percent

$20 NA 1988 NA 2,200 yes Keith AdlerCorporate RealtyInc.New OrleansNA

4 BullardCorporateCenter5555 BullardAve.

40,000 80percent

NA NA renovated2006

1 NA immediate Wade T. Verges5555 Bullard LLCNew Orleans246-1562

5 6800 PlazaDrive6800 PlazaDrive

40,000 NA NA NA 1984/2003;underrenovation

2 NA 2010 Wade T. VergesGrace TamaDevelopment Co.LLCNew Orleans246-1562

The Most Prestigious Office Space in East New Orleans

Executive Plaza Office Building, the single most desirable office building in New Orleans East, is

strategically located off of Hwy-10 at the Read Blvd. exit. The eleven story glass building is

125,000 sf and each floor has 10,500 rsf. Will do tenant build-out to suit. 24-hour video security

monitoring of building and parking lot. Abundant free parking for tenants and visitors.

Call Brandy Frisby, Kailas Management at 504-837-8644.

RE_trends2009 11/2/09 2:13 PM Page 16

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Real Estate Trends Fall 2009 17A

Lakeshore

France

Downman

I-610

I-10

Pola

nd

Florida

N. ClaiborneSt. Claud

Cent

er

n La

fitte

Orleans Parish

Chef Menteur

Almonaster

Paris

Rd.

Old Gentilly

Hwy.

Chef MenteurDwyer

Intr

acoa

stal

Driv

eMic

houd

Mayo

Discovery Blvd.

1

Morriso

n

W. Jud

New OrleansLakefront Airport

I-10

Lake Forest Blvd.Wright

Hayne Blvd.

Chalmette

Bullard

BundyRead

Morrison

Dwyer

Lake Pontchartrain

Intracoastal WaterwayMississipi River Gulf Outlet

72

9

St Bernard Parish

5

Crowder

6

1

3 8

4MAP

Eastern New Orleans and ChalmetteREAL ESTATE TRENDS 2009

Eastern New Orleans/Chalmette(ranked by total leasable space)

2009Rank

BuildingnameAddress

Totalleaseablesquarefeet

Percentoccupied

Quotedrentratehigh

Commonspace

Year built/renovated Floors

Largestblock ofspaceavailable(sq. feet) Availability

Leasing agentLeasing companyPhone

6 WinkBusinessPark4949 BullardAve.

32,500 7 percent $14.50 0 percent 1986/2005 1 32,500 immediate Duff FriendLatter & BlumNew OrleansNA

7 Lake WillowBuilding7240 CrowderBlvd.

24,000 NA NA NA 1980/underrenovation

NA NA 2010 Wade T. VergesVerges PropertiesNew Orleans246-1562

8 Willow Tree7701 DwyerRoad

12,000 40percent

NA NA 1985/2008 1 NA immediate Wade T. VergesVerges PropertiesNew Orleans246-1562

9 5630 CrowderBlvd. Building5630 CrowderBlvd.

11,500 NA NA NA 1980/2000 2 NA immediate Wade T. Verges5630 Crowder LLCNew Orleans246-1562

NA=noat applicable/not available The above information was provided by the companies themselves. Any additions or corrections should be sent on company letterhead to Research, NewOrleans CityBusiness Newspaper, 111 Veterans Blvd., Suite 1440, Metairie, LA 70005.

RE_trends2009 11/2/09 11:17 AM Page 17

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18A New Orleans CityBusiness

By Robin [email protected] Writer

Commercial real estate agents in St.Charles Parish say they deal with a

market that fluctuates on a month-to-month basis.

“The market becomes busy fromsummer through fall when we get expan-sions and relocations, but it drops offafter September and October,” saidDaniel Poulin, senior regional managerfor Sealy and Co. “It’s a quirk that themarket has always experienced, and it’shard to really explain.”

Poulin, whose firm manages 18 of the49 buildings in the James Business Parkin St. Rose, said occupancy in most ofthe commercial properties is between 81percent and 96 percent.

“There are very few spaces left forlease, but rents don’t constitute a needfor any new construction,” Poulin said.“We delivered our last building in JamesBusiness Park last year, but constructioncosts are much higher now.”

Aside from a handful of strip mallsgoing up in the Boutte area, the marketis not seeing much new construction.

“We are seeing some user construc-tion in the form of minor expansions,but that’s about it,” Poulin said.

Realtors in the Kenner area tell a sim-ilar but slightly more negative story.

Susan Wallace of Preferred Realty saidthe market experiences some fluctuation,but agents in most cases are not findingmany people looking for openings.

“Occupancy has dropped in the last sixmonths, but we are not losing clients andtenants to other markets,” Wallace said.“Tenants are doing things differently,whether it be downsizing or shutting downcompletely. But they aren’t just leavingKenner and going elsewhere. Companiesare hanging on to what they have.”

Wallace said landlords are looking for

new tenants, but they have yet to offermuch in the way of incentives to get peo-ple into spaces.

“We haven’t started offering free orreduced rents like other parts of thearea,” Wallace said. “We take it case bycase. We figure out what the tenant needsand determine how we can accommodatethem best.

“We thought we were recession-prooffor a while, but now we are slowly feelingsome of the effects of the national econo-my. There’s no way to tell how much wewill be affected, but we may not get hit asbad as other parts of the country have.”

Art Schwartz, a broker with Argote,

Derbes, Graham Shuffield and Tatje,said that although landlords are alwayslooking for tenants, there isn’t reallymuch space available in the market.

“There is nothing available if you arelooking for more than 30,000 squarefeet,” Schwartz said. “There is very littleClass A property in Kenner and most ofthat is full. The Class B property ismostly owner occupied.”

Schwartz said anyone consideringnew construction in the area wouldneed to have a tenant ready to move inimmediately.

“It is build-to-suit-needs right now,”Schwartz said.•

Daniel Poulin, senior regional manager for Sealy and Co., says there are few spaces left at James Business Park in St.Rose, but the area hasn’t reached a need for new construction.

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Kenner and St. Charles ParishREAL ESTATE TRENDS 2009

“We thought we were recession-proof for a while, but now we are slowly feelingsome of the effects of the national economy.”

Susan WallacePreferred Realty

RE_trends2009 11/2/09 11:17 AM Page 18

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Real Estate Trends Fall 2009 19A

Kenner/St. Charles(ranked by total square feet)

2009Rank

Building nameAddress

Totalleaseablesquarefeet

Percentoccupied

Quotedrent ratehigh

Commonspace

Year built/renovated Floors

Largestblock ofspaceavailable(sq. feet) Availability

Leasing agentLeasingcompanyPhone

1 2400 VeteransBuilding2400 VeteransMemorial Blvd.

133,195 76percent

$19 16percent

1982 5 33,000 availablenow

Greer RobertsNA

2 Two JamesPark120 Mallard St.

53,520 78percent

$17.50 NA 1981 3 4,149 immediate Jennifer A. LeeSealy and Co.St. Rose463-5600

3 2200 VeteransBlvd. Building2200 VeteransMemorial Blvd.

44,874 89percent

$15.50 13percent

1983/2006 2 2,662 5,357 Susan WallaceCassie GoldsboroPreferred RealtyInc.Metairie455-8644

4 One JamesPark100 JamesDrive

43,055 78percent

$17.50 NA 1980 3 3,228 immediate Jennifer A. LeeSealy and Co.St. Rose463-5600

5 160 JamesDrive East160 JamesDrive East

25,772 100percent

$16.50 NA 1981 1 0 none Jennifer A. LeeSealy and Co.St. Rose463-5600

6 Five JamesPark110 JamesDrive West

24,018 77percent

$17.50 NA 1983 2 2,780 immediate Jennifer A. LeeSealy and Co.St. Rose463-5600

7 3715 WilliamsBlvd. Building3715 WilliamsBlvd.

19,000 50percent

$19.50 NA 1981/2008 2 2,000 now Patrick T.BossettaStandardProperties LLCMetairie247-2128

8 First AmericanBank & OfficeBuilding11 James Blvd.

11,133 94percent

$15.50 10percent

1981/1999 2 696 availablenow

Charles M. MullinThe Mullin Co.Inc.St. Rose465-9345

9 CrouchBuilding231 WestEsplanade Ave.

5,250 57percent

$16 0 percent 2000 1 2,250 availablenow

Charles M. MullinThe Mullin Co.Inc.St. Rose465-9345

10 14446 RiverRoad14446 RiverRoad

3,000 0 percent $12 0 percent 1899/2006 1 3,000 availablenow

Charles M. MullinThe Mullin Co.Inc.St. Rose465-9345

11 11438 RiverRoad11438 RiverRoad

1,650 0 percent $25 0 percent 1990/2008 1 1,650 availablenow

Charles M. MullinThe Mullin Co.Inc.St. Rose465-9345

NA=not available/not applicable The above information was provided by the companies themselves. Any additions or corrections should be sent on company letterhead to Research, NewOrleans CityBusiness Newspaper, 111 Veterans Blvd., Suite 1440, Metairie, LA 70005.

RE_trends2009 11/2/09 11:17 AM Page 19

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20A New Orleans CityBusiness

Mississippi River

U.S. 61

I-10

Illinois Central RRU.S. 61 (Airline)

Willi

ams

Blvd

.

St. C

harl

es P

aris

h

Jeff

erso

n Pa

rish

Loyo

la

Chat

eau

Blvd

.

W. Metairie Blvd.Kansas City Railroad

Veterans Blvd.

W. Esplanade

New OrleansInternational Airport

JamesBusiness

Park

Jefferson Hwy.

97

6

4

3

2

1

5

8

River Road10 11

Kenner and St. CharlesREAL ESTATE TRENDS 2009

MAP

By Robin [email protected] Writer

Despite a foundering national econo-my, real estate agents managing com-

mercial properties in East Jefferson andMetairie say it is still one of the strongestmarkets in the New Orleans region. Butsigns of slight weakening have becomeevident in the past year.

Although many premium Class Aoffice buildings in the area have occupan-cy rates higher than 90 percent, a handfulof Class B buildings are seeing a bit of adrop in tenants.

Bruce Sossaman, leasing director forEquity Office Properties, said recent ClassB figures for the area show occupancy ratesnear 89 percent, down from 91 percent atthe beginning of the year. He said althoughthe number is still fairly strong, landlordsare struggling to get tenants into buildings.

“Businesses are having a hard time get-ting loans and mortgage companies areclosing,” Sossaman said. “Everyone isdoing either a one- or two-year deal now.”

Corporate Realty representative JeffCohn said some landlords are even offer-ing concessions, such as reduced rent andthe possibility of one or two months offree rent, to get tenants into buildings.

“Two years ago, no one in Metairiehad to offer free rent,” Cohn said. “Now it

is being offered as an enticement to getpeople into a space. It is definitely a ten-ant’s market right now.”

Cohn said the market is no longer see-ing the boom it enjoyed in the monthsafter Hurricane Katrina, when contractorswere moving into the area at a rapid rate.

Ben Frank, a financial consultant with Compass Capital Management, left, talks with Corporate Realty sales andleasing agent Jeff Cohn about Compass Capital’s recent move into the 3445 N. Causeway Blvd. building.

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RE_trends2009 11/2/09 11:17 AM Page 20

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Real Estate Trends Fall 2009 21A

He said bigger companies are downsizingand smaller companies are pulling out orgoing out of business.

“There are even some patches of retailspace available,” Cohn said. “LakesideMall has room to rent. I’ve never seen that.

Jeanne Booth of SRSA CommercialReal Estate said tenants and landlords arestaring to approach the market in a moreconservative manner to see where theycan save.

“Landlords are looking for strong cred-itworthiness and longer leases, and tenantsare also checking into the track record ofthe landlord,” Booth said.

Booth and Sossaman say the market isallowing tenants more flexibility to findwhat they want, where they want to be.

“Renters can shop around a bit,”Sossaman said. “They are able to find aspace that suits their needs and suits theirbudget. I don’t think anyone is choosingone class over another.”

Sossaman said rental rates, which peakat about $24 per square foot in Class A, arestill not high enough to allow for any newconstruction in the market. He said rateswould have to jump higher than $30 persquare foot before any talk of new con-struction begins. •

Select Properties, Ltd.

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RE_trends2009 11/2/09 11:17 AM Page 21

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22A New Orleans CityBusiness

Metairie/East Jefferson(ranked by total leaseable square feet)

2009Rank

Building nameAddress

Totalleaseablesquarefeet

Percentoccupied

Quotedrentratehigh

Commonspace

Year built/renovated Floors

Largestblock ofspaceavailable (sq.feet) Availability

Leasing agentLeasing companyPhone

1 Three LakewayCenter3838 N.Causeway Blvd.

471,745 94percent

$23 NA 1987/1996 34 9,663 immediate Bruce SossamanEquity OfficePropertiesMetairie219-5842

2 GalleriaOne Galleria Blvd.

465,985 93percent

$23 15percent

1986/2008 22 8,791 31,337 Jeff CohnCorporate RealtyInc.New Orleans581-5005

3 Two LakewayCenter3850 N.Causeway Blvd.

449,339 91percent

$23 NA 1984/1996 19 13,307 immediate Bruce SossamanEquity OfficePropertiesMetairie219-5858

4 Heritage Plaza111 VeteransBlvd.

353,003 83percent

$21.50 15percent

1983/2007 18 12,365 59,325 Gaines SeamanStirling PropertiesMetairie834-1111

5 One Lakeway3900 N.Causeway Blvd.

300,816 90percent

$23 NA 1981/1996 14 25,000 immediate Bruce SossamanEquity OfficePropertiesMetairie219-5842

6 Executive Tower3500 N.Causeway Blvd.

184,147 89percent

$16 12percent

1972/ongoing

14 4,300 immediate Juli W. MailletSecurity NationalPropertiesBaton RougeNA

7 110 VeteransBuilding110 VeteransMemorial Blvd.

129,000 94percent

$18.50 16percent

1972/2005 5 6,464 availablenow

Greer RobertsNA

8 Regions BankBuilding3525 N.Causeway Blvd.

128,000 90percent

$16 15percent

1970/currently

10 6,200 immediate Praveen KailasDenise GainesTower RealtyMetairie828-9700

9 3445 N.Causeway Blvd.3445 N.Causeway Blvd.

127,859 81percent

$18 15percent

1969/2008 10 6,537 24,031 Jeff CohnCorporate RealtyInc.New Orleans581-5005

10 3421 N.CausewayHighrise3421 N.Causeway Blvd.

125,150 84percent

$18.50 14percent

1973/2006 10 6,333 immediate Ronnie R. RauberSelect PropertiesLtd. RealtyMetairie833-4494

11 3501 N.CausewayBuilding3501 N.Causeway Blvd.

112,741 81percent

$18 15percent

1973/ongoing

10 10,500 immediate Jeanne BoothSRSA CommercialReal Estate Inc.Metairie831-2363

12 Causeway PlazaIII3330 W.Esplanade Ave.

108,718 96percent

$19.50 15percent

1983/2006 6 2,896 immediate Jeff CohnCorporate RealtyInc.New Orleans581-5005

CORNER of Causeway Blvd. & West Esplanade Ave.

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Regions Bank Building, 3525 N. Causeway Boulevard is a ten (10) story high Class B office tower

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uncovered is available at the most competitive rental rates. The Caboose Restaurant and

Regions Bank are located on the first floor to satisfy your every need.

Call Praveen Kailas, Tower Realty, at (504) 828-9700www.3525Causeway.com

RE_trends2009 11/2/09 2:13 PM Page 22

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Real Estate Trends Fall 2009 23A

Metairie/East Jefferson(ranked by total leaseable square feet)

2009Rank

Building nameAddress

Totalleaseablesquarefeet

Percentoccupied

Quotedrentratehigh

Commonspace

Year built/renovated Floors

Largestblock ofspaceavailable (sq.feet) Availability

Leasing agentLeasing companyPhone

13 Causeway PlazaII3300 W.Esplanade Ave.

108,520 92percent

$19.50 15percent

1982/2006 6 3,865 immediate Jeff CohnCorporate RealtyInc.New Orleans581-5005

14 Causeway PlazaI3510 N.Causeway Blvd.

108,480 96percent

$19.50 15percent

1982/2006 6 2,160 immediate Jeff CohnCorporate RealtyInc.New Orleans581-5005

15 JeffersonBusiness Center5401 JeffersonHighway

99,410 52percent

$13.50 NA 1982/currentlyunderrenovation

1 47,950 in threemonths

John Callegari309-7412

16 880 CommerceRoad West880 CommerceRoad West

93,629 98percent

$19 NA 1979/1991 5 2,400 immediate Mike WhitsellKirsten EarlySRSA CommercialReal Estate Inc.Metairie831-2363

17 800 WestCommerce800 CommerceRoad West

91,628 97percent

$19 NA 1979/2004 5 2,315 availablenow

Kirsten EarlySRSA CommercialReal EstateMetairie831-2363

18 Metairie OfficeTower433 Metairie Road

91,381 77percent

$20 15percent

1970/2002/2009

6 9,728 availablenow

Connie YoungChiasson DouglassThe FeilOrganizationMetairie833-6334

19 Metairie Center2424 EdenbornAve.

90,383 90percent

$19.50 15percent

1986/2002 6 5,640 availablenow

Philip BulliardNA

20 Severn Place2450 Severn Ave.

87,151 100percent

$19.50 15percent

1982/2006 5 0 NA Philip BulliardNA

21 StewartEnterprisesCorporateHeadquarters1333 S. ClearviewParkway

87,000 100percent

$0 NA 1974/1997 5 NA NA company ownsbuildingNA

22 LakesideProfessionalOffice Building I4720 S. I-10Service Road

74,831 81percent

$0 NA 1988/2005 5 NA NA Kim BayerPacific MedicalBuildingsNA

23 Elmwood Oaks201 Evans Road

71,985 80percent

$17 6 percent 2009 1 4,005 immediate Mike WhitsellMike Whitsell &Associates LLCMetairie669-4494

24 Interstate II3636 S. I-10Service Road

60,000 88percent

$17.25 15percent

1980/2008 3 NA NA Colleen KuebelBerthelotCorporate RealtyNew OrleansNA

25 990 N. CorporatePark990 N. CorporatePark

58,646 93percent

$19 NA 1979/1992 3 4,033 availablenow

Kirsten EarlySRSA CommercialReal EstateMetairie831-2363

26 Riverside II6620 RiversideDrive

57,844 85percent

$18.50 15percent

1983/2006 3 6,248 Immediate Ronnie R. RauberSelect PropertiesLimited RealtyMetairie833-4494

27 Medical Plaza I &ll3901 HoumaBlvd.

52,232 93percent

$19 15percent

1972/2006 3 2,380 immediate Ronnie R. RauberSelect PropertiesLimited RealtyMetairieNA

RE_trends2009 11/2/09 11:17 AM Page 23

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24A New Orleans CityBusiness

Metairie/East Jefferson(ranked by total leaseable square feet)

2009Rank

Building nameAddress

Totalleaseablesquarefeet

Percentoccupied

Quotedrentratehigh

Commonspace

Year built/renovated Floors

Largestblock ofspaceavailable (sq.feet) Availability

Leasing agentLeasing companyPhone

28 3340 Severn3340 Severn Ave.

45,000 75percent

$17.50 15percent

1981/2006 4 6,900 immediate Colleen KuebelBerthelotCorporate RealtyNew Orleans581-5005

29 Favrot & ShaneBuilding3925 N. I-10Service Road

44,992 93percent

$17.25 13percent

1981/2006 2 1,325 3,370 Susan WallaceCassie GoldsboroPreferred RealtyInc.Metairie455-8644

30 Bank ofLouisiana3340 Severn Ave.

44,000 75percent

$18 15percent

1980/2006 4 7,500 immediate Colleen KuebelBerthelotCorporate RealtyNew OrleansNA

31 Coldwell BankerBuilding4051 VeteransBlvd.

40,000 92percent

$16 15percent

1970/2006 4 3,288 immediate David WrightColdwell BankerTEC RealtorsMetairie828-9700

32 3200 RidgelakeBuilding3200 RidgelakeDrive

40,000 86percent

$17.50 15percent

1984/2005 4 2,900 5,800 Colleen K.BerthelotCorporate RealtyNew Orleans581-5005

33 3939 N.Causeway Blvd.3939 N.Causeway Blvd.

40,000 100percent

$19 15percent

1971/2006 4 0 0 Colleen K.BerthelotCorporate RealtyNew Orleans581-5005

34 Interstate I3616 S. I-10Service Road

40,000 75percent

$17.25 15percent

1979/2008 2 5,000 immediate Colleen KuebelBerthelotNA

35 Louisiana CreditUnion Center824 ElmwoodPark Blvd.

38,629 89percent

$16.50 NA 1984/1998 NA NA NA Judy SlackNAI Latter & BlumInc./RealtorsNew Orleans569-9452

36 Wagner & Truax2121 N.Causeway Blvd.

35,000 95percent

$15.50 12percent

1965, 1975,1978, 2000

2 1,200 immediate Edward RowleyWagner & TruaxCo. Inc.Metairie830-7300

37 4141 Veterans4141 VeteransBlvd.

32,339 85percent

$18 15percent

1969/2006 3 1,169 4,743 Matt TaylorProperty One Inc.Metairie681-3400

38 Boy Scouts ofAmerica4200 S. I-10Service Road

32,321 97percent

$13.50 15percent

1984/2006 2 1,013 1,013 Matt TaylorProperty One Inc.Metairie681-3400

39 Riverside I6660 RiversideDrive

31,699 77percent

$18.50 15percent

1981/2006 3 2,749 Immediate Ronnie R. RauberSelect PropertiesLimited RealtyMetairie833-4494

Premier Veterans Office SpaceThe Coldwell Banker Building located at 4051 Veterans Boulevard is a four (4) storywhite office building in a very prime Metairie location between Cleary Avenue andClearview Parkway on the north side of Veterans. Various renovated offices with largewindows overlooking Veterans in the front and the neighborhood in the rear. Excellentparking on all sides of the building and available pylon signage in front. Very reasonablerental rates. First floor space available.

Call Praveen Kailas, Tower Realty, at (504) 828-9700www.4051Veterans.com

RE_trends2009 11/2/09 2:14 PM Page 24

Page 27: RE trends09 COVERS - New Orleans CityBusiness - Gulf Coast

Real Estate Trends Fall 2009 25A

Metairie/East Jefferson(ranked by total leaseable square feet)

2009Rank

Building nameAddress

Totalleaseablesquarefeet

Percentoccupied

Quotedrentratehigh

Commonspace

Year built/renovated Floors

Largestblock ofspaceavailable (sq.feet) Availability

Leasing agentLeasing companyPhone

40 NY-II OfficeBuilding2750 Lake VillaDrive

30,114 85percent

$17 12percent

1985/2005-2006

3 2,601 immediate Frederick J. TuftsCrutcher-TuftsCorp.Metairie887-9327

41 Crutcher-TuftsBuilding3545 N. I-10Service Road

29,002 88percent

$17.50 13percent

1970/2006 3 9,612 NA Frederick J. TuftsCrutcher-TuftsCorp.Metairie887-9327

42 2626 NorthArnoult Building2626 N. ArnoultRoad

26,870 100percent

$16.75 15percent

1978/1993 2 0 0 Dale C. HigginsNA

43 Capital OneBuilding2201 VeteransBlvd.

25,000 95percent

$18.50 NA 1975/2007 4 1,421 NA Tracey T. TarletonSizeler Realty Co.Inc.Metairie471-6200

44 FGS Building4300 S. I-10Service Road

24,498 90percent

$17 13percent

1981/2006 2 829 2,298 Susan WallaceCassie GoldsboroPreferred RealtyInc.Metairie455-8644

45 LakesideProfessionalOffice Building II4740 S. I-10Service Road

24,059 83percent

$0 NA 1980/2005 3 NA NA Kim BayerPacific MedicalBuildingsNA

46 LakesideMedical OfficeBuilding III4770 S. I-10Service Road

19,718 100percent

$0 NA 1980/1997 2 NA NA Susie WhiteFertility Institute ofNew OrleansNew OrleansNA

47 Enterprise Rent-a-Car3529 N. I-10Service Road

18,096 100percent

$18 NA 1971/1999 1 0 NA Frederick J. TuftsCrutcher-TuftsCorporationMetairie887-9327

48 2601 N. Hullen2601 N. Hullen

14,600 80percent

$13.99 15percent

unknown 2 3,500 immediate Skip WeberNAI/Latter & BlumInc. RealtorsNew Orleans887-3929

49 Favrot & ShaneAnnex3945 N. I-10Service Road

6,000 100percent

$16.75 NA 1982/2006 2 0 0 Cassie GoldsboroSusan WallacePreferred RealtyMetairie455-8644

50 3330 Lake Villa3330 Lake Villa

5,856 55percent

$15 15percent

1969/2006 2 1,330 2,648 Matt TaylorProperty One Inc.Metairie681-3400

51 3841 Veterans3841 VeteransBlvd., Suites 103and 200

3,077 75percent

$26 15percent

2006 2 1,570 immediate Skip WeberNAI/Latter & BlumInc. RealtorsNew Orleans887-3929

52 1321 Hickory1321 HickoryAve., No. 100

3,000 100percent

$11.80 200percent

unknown 2 3,000 availablenow

Skip WeberNAI/Latter & BlumInc. RealtorsNew Orleans887-3929

53 2301 N. Hullen2301 N. Hullen,Suite 103

1,540 100percent

$9.35 175percent

2007 2 9,300 availablenow

Skip WeberNAI/Latter & BlumInc. RealtorsNew Orleans887-3929

NA=not available/not applicableThe above information was provided by the companies themselves. Any additions or corrections should be sent on company letterhead to Research, New Orleans CityBusiness Newspaper,111 Veterans Blvd., Suite 1440, Metairie, LA 70005.

RE_trends2009 11/2/09 11:17 AM Page 25

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26A New Orleans CityBusiness

W . Esplanade

Lake PontchartrainMetairie

Davi

d Dr

.Po

wer

W . Metairie Ave.

Airline Dr.

RAILROAD

Jefferson Hwy

Harahan

Brookhollow

Citrus

Jefferson Hwy

S. Claiborne

Metairie Rd.

Evans

Edw

ards

Seve

rn

TolerPlantation

I-610

N. A

rnou

lt

Mounes

Tra

nsco

ntin

enta

l

I-10

Caus

eway

Bonn

abel

Zenith

Earhart Expwy

Veterans Blvd.

Clea

rvie

w P

kwy

Hick

ory

Ave.

Mississ

ippi Rive

r

Jeff

erso

n Pa

rish

Orl

eans

Par

ish

38

18

6

7

20

1

33

4

2

24

19

30

17

41

35

43

9

32

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lers

Pkw

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5037

36

48

53

51

49

29

26 39

5216

25

15

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224546

West Esplanade

Veterans Blvd.

Clea

ry

Seve

rn

I-10

Arno

ult

Caus

eway

Clea

rvie

w

33

1227

10

42

3444

13

19

24

31

8

47

MAP

Metairie and East JeffersonREAL ESTATE TRENDS 2009

RE_trends2009 11/2/09 11:17 AM Page 26

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Real Estate Trends Fall 2009 27A

By Garry [email protected] Writer

Long accustomed to annual increasesin sales and prices, North Shore

commercial real estate agents say theyare getting hit from two sides — over-built office and retail space along withthe effects of a recessed economy.

“To put it bluntly, there aren’t enoughbusinesses right now on the North Shore tosupport all of the existing — new and old —commercial real estate,” said David Wright,a commercial sales associate for ColdwellBanker Commercial TEC Realtors Inc.

Small businesses have been strug-gling this year. And because they aredownsizing, they don’t need as muchspace, Wright said.

“On top of that, some people, toreduce expenses, have closed theiroffices and are doing their work out oftheir houses, which only creates morevacant commercial space.”

To make matters more challenging,said Ted Moses, a real estate adviser forPrudential Gardner Realtors inMandeville, there has been some over-building on the commercial side.

A prominent player in the NorthShore real estate market for more thanthree decades, Moses said older buildingsfilled up after Katrina, driving the con-struction of new ones. Those new build-ings are now experiencing vacancies.

The reason, he said, is because newerproperty costs more to rent.

“People like the nice new spaces butdon’t want to pay the $30 a square foot ittakes to rent them out,” Moses said.

As a result, Moses said he is seeingmore small-tenant space, situations wheretwo tenants occupy 300 or 400 squarefeet as opposed to 5,000 square feet.

“A 2,500-square-foot tenant rightnow would be a big deal,” he said.

The North Shore commercial sectoris also contending with the nationalrecession, which has produced a dropoff in sales for local retailers and demandfor larger commercial space.

But Grady Brame, executive vicepresident of Stirling Properties inCovington, thinks the last quarter of2009 will show improvement over thefirst depressing months of the year.

“With discounters and the foodstores, we did not see as much of a nega-tive dip as we did in some of the clothingor department stores,” he said.

The overall downward trend, Bramesaid, may have run itself out.

“We are actually now seeing sales formany retailers stabilizing and maybeeven trending a little upward.”

That pattern more than likely means

next year is going to be stronger for thecommercial side, Brame said.

Michael Siegel, executive vice presi-dent of Corporate Realty, thinks anotherreason why commercial real estateprospects on the North Shore may belooking promising is their size.

“Yes, there has been some overbuild-ing. But because the market is small, itwon’t take much for it to come backwhen the economy itself improves. Thatmay be already happening a little.”

Moses said St. Tammany Parish’slong-term growth rate, which has seen an18 percent population jump from192,000 in 2000 to 228,000 last year, willalso bolster prospects for a better 2010.

“That rate of growth is one of ourassets up here,” Moses said, “and hasbeen for a long time.”•

Grady Brame, executive vice president of Stirling Properties in Covington, and Gretchen Dauterive, a commercial salesand leasing executive with Stirling, discuss floor plans for an open space at NorthPark Business Park.

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North ShoreREAL ESTATE TRENDS 2009

“A 2,500-square-foot tenantright now would be a big deal.”

Ted Mosesreal estate adviser

for Prudential Gardner Realtors in Mandeville

RE_trends2009 11/2/09 11:17 AM Page 27

Page 30: RE trends09 COVERS - New Orleans CityBusiness - Gulf Coast

28A New Orleans CityBusiness

North Shore office buildings(ranked by total leaseable square feet)

2009Rank

BuildingnameAddress

Totalleaseablesquarefeet

Percentoccupied

Quotedrentratehigh

Commonspace

Year built/renovated Floors

Largestblock ofspaceavailable(sq. feet) Availability

Leasing agentLeasing companyPhone

1 NorthparkCorporateCenter109 NorthparkBlvd.

103,222 94percent

$23.50 24percent

1986 5 5,170 immediate Lee M. de la HoussayeStirling PropertiesCovington(985) 898-2022

2 CypressBend OfficeBuilding1001 OchsnerBlvd.

102,198 73percent

$30 12percent

2009 4 20,000 43,689 Marcia D'AmicoMike D'AmicoProperty One Inc.Mandeville(985) 674-1197

3 Mariner'sPlaza200 Mariner'sPlaza

81,762 77percent

$18 NA 1983/2007 2 2,288 NA Ted H. MosesPrudential GardnerRealtorsMandeville(985) 626-8589

4 LakeviewRegionalMedicalOfficeBuilding101 E.Fairway Drive

72,302 NA NA NA 1995 NA NA NA Kim BayerPMB Real Estate(504) 455-9060

5 NorthparkCorporate ll103 NorthparkBlvd.

69,905 78percent

$24 15percent

1998 3 0 NA Lee M. de la HoussayeBarry SpizerStirling PropertiesSRSA Commercial RealEstate Inc.CovingtonMetairie(985) 898-2022; (504)831-2363

6 Covington'sVillage Walk5100 VillageWalk

45,000 NA $20 NA 2001 NA NA NA Rita MoreciPhoenix CovingtonAssociatesCovingtonNA

7 SlidellMemorialHospitalMedicalOfficeBuilding l1051 GauseBlvd.

43,671 93percent

NA NA 1993 4 1,800 NA Elizabeth TeagueNA

8 SlidellMemorialHospitalMedicalBuilding lll1150 RobertBlvd.

41,342 94percent

NA NA 1999 3 NA NA Elizabeth TeagueNA

9 WoodsideEnergyBuilding830 W.CausewayApproach

40,000 80percent

$28 10percent

2008 2 8,000 8,000 Marcia D'AmicoMike D'AmicoProperty One Inc.Mandeville(985) 674-1197

10 Dalwill Place999 DalwillDrive

32,000 0 percent $24 NA underconstruction

2 20,000 Fall '09 NA

11 PontchartrainPlace1501-1535 W.CausewayApproach

25,500 100percent

$20 0 percent 1998 2 0 0 Barry EscherRe/Max CommercialBrokers Inc.MandevilleNA

12 No. 3SanctuaryNo. 3SanctuaryBlvd.

21,000 100percent

$23 NA 2000 3 NA NA Marlene ZahnCindy SaiaMamie HenryNA

RE_trends2009 11/2/09 11:17 AM Page 28

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Real Estate Trends Fall 2009 29A

North Shore office buildings(ranked by total leaseable square feet)

2009Rank

BuildingnameAddress

Totalleaseablesquarefeet

Percentoccupied

Quotedrentratehigh

Commonspace

Yearbuilt/renovated Floors

Largestblock ofspaceavailable(sq. feet) Availability

Leasing agentLeasing companyPhone

13 No. 5SanctuaryBlvd.No. 5SanctuaryBlvd.

21,000 100percent

$22 NA 2006 3 NA NA Marlene ZahnCindy SaiaMamie HenryNA

14 No. 2SanctuaryNo. 2SanctuaryBlvd.

21,000 98percent

$21 NA 1998 3 1,006 immediate Marlene ZahnCindy SaiaMamie HenryNA

15 No. 4SanctuaryNo. 4SanctuaryBlvd.

21,000 97percent

$21 NA 2004 3 1,670 immediate Marlene ZahnCindy SaiaMamie HenryNA

16 TheAllstateBuilding111 ParkPlace

20,153 100percent

$20 NA 1998 1 0 NA Barry SpizerSRSA Comercial Real EstateInc.Metairie(504) 831-2363

17 StirlingPlace1321 W.CausewayApproach

20,000 90percent

$22 0 percent 2005 1 2,000 immediate Barry EscherRe/Max Commercial BrokersInc.MandevilleNA

18 SlidellMemorialHospitalMedicalOfficeBuilding ll901 GauseBlvd.

18,522 100percent

NA NA 1997 2 NA NA Elizabeth TeagueNA

19 TammanyHomeCenter2101 U.S.Highway190

17,000 83percent

$11.30 NA 1970 2 1,912 immediate Joseph W. Carroll IILatter & Blum Inc.Mandeville(985) 626-5695

20 Crossroads1705Highway 59

17,000 80percent

$14 NA NA NA 3,245 immediate Joseph W. Carroll IILatter & Blum, Inc.Mandeville(985) 626-5695

21 No. 1SanctuaryNo. 1SanctuaryBlvd.

16,000 89percent

$21 NA 1997 3 1,068 immediate Cindy SaiaMarlene ZahnMamie HenryNA

22 Iberia BankBuilding4565LaSalle St.

16,000 100percent

$23 NA 1980 3 NA NA Marcia D'AmicoMike D'AmicoProperty One Inc.MandevilleNA

23 Park PlaceOfficeBuilding106 ParkPlace

15,850 61percent

$21 15percent

1986 3 6,237 immediate Lee M. de la HoussayeStirling PropertiesCovingtonNA

24 111 N.CausewayBuilding111 N.CausewayBlvd.

15,400 90percent

$13 NA 1980 2 1,000 immediate Joseph W. Carroll IILatter & Blum Inc.MandevilleNA

25 Brookside1011 N.CausewayBlvd.

14,400 83percent

$13 NA NA 1 900 immediate Ted MosesPrudential Gardner RealtorsMandeville(985) 626-8589

RE_trends2009 11/2/09 11:17 AM Page 29

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30A New Orleans CityBusiness

North Shore office buildings(ranked by total leaseable square feet)

2009Rank

BuildingnameAddress

Totalleaseablesquarefeet

Percentoccupied

Quotedrentratehigh

Commonspace

Yearbuilt/renovated Floors

Largestblock ofspaceavailable(sq. feet) Availability

Leasing agentLeasing companyPhone

26 AllstateInsuranceBuilding2401 N. U.S.Highway 190

14,039 64percent

$13.50 NA 1998 2 5,100 immediate Will BarroisStirling PropertiesCovingtonNA

27 The EdsonBuilding21357 MarionLane

13,222 52percent

$14 NA NA NA 1,780 immediate Joseph W. Carroll IILatter & Blum Inc.Mandeville(985) 626-5695

28 OPS OfficeBuilding1206 ParkDrive

12,034 72percent

$15 811percent

1998/2003 2 2,953 now Roxie MeyersAvalarMandevilleNA

29 Fountainhead61445Lemieux

7,783 0 percent $10,000 NA NA NA 7,783 immediate Joseph W. Carroll IILatter & Blum Inc.MandevilleNA

30 847 GalvezOfficeBuilding847 GalvezSt.

7,464 86percent

$30 11percent

2009 2 900 immediate Ted MosesPrudential Gardner RealtorsMandeville(985) 674-8887; (985)626-8589

31 BrooksideOfficeBuilding101 BrooksideDrive

5,100 0 percent $10 NA NA 1 5,100 immediate Joseph W. Carroll IILatter & Blum Inc.Mandeville(985) 626-5695

32 1150 N.CausewayBlvd.1150 N.CausewayBlvd.

5,000 70percent

$18 NA 1988 1 1,500 12/01/08 Jeffrey H. St. RomainNA

33 ProfessionalVillage700 GauseBlvd.

4,750 70percent

$15 NA 1981/2007 3 1,863 4,750 William L. Treadway(985) 626-2954

34 North StarTheater347 Girod St.

3,500 72percent

$13 NA unknown/2006

2 990 NA Ted MosesPrudential Gardner RealtorsMandeville(985) 626-8589

35 880 Lafayette880 Lafayette

3,000 1,000percent

$12 NA NA 1 3,000 NA Joseph W. Carroll IILatter & Blum Inc.Mandeville(985) 626-5695

36 220 DalwillBuilding220 DalwillDrive

1,832 100percent

$12 NA 2006 1 NA NA Joseph W. Carroll IILatter & Blum Inc.MandevilleNA

37 1795 W.CausewayApproach1795 W.CausewayApproach,Suite 103A

1,000 100percent

$18.36 200percent

unknown 2 1,000 September1, 2009

Skip WeberNAI/Latter & Blum Inc.RealtorsNew Orleans(504) 887-3929

NA=not available/applicable The above information was provided by the companies themselves. Any additions or corrections should be sent on company letterhead to Research, NewOrleans CityBusiness Newspaper, 111 Veterans Blvd., Suite 1440, Metairie, LA 70005.

RE_trends2009 11/2/09 11:17 AM Page 30

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Real Estate Trends Fall 2009 31A

LAKE PONTCHARTRAIN

Mandeville

Abita Springs

SlidellBayou Liberty Rd.Th

omps

onRd

.

Military Rd.

Pine

I-59

Lake

Ave.

U.S. 190

Davis

Rd.

I-12

I-12

Covin

gton

Hwy

I-12

Hickory Ave.

River Rd.

N.Le

eRd.

Allen

Rd.

Talishee

k Rd.

Boston Ave.Covington

U.S.190

Mandeville

U.S. 190

Abita

Hw

y.Ra

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Line

Rd.

U.S. 190

5

9

7

116

23

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oeRd

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rtRd

.

High

way1

90*

6

818

Front

St.

Fish

Hatc

hery

Rd.

W. 21st Ave.

Militar

y Rd.

West CausewayApproach*

Florida Ave.

Watts Rd.

Old Spanish Trail

2214

1315

33

26West Causeway Approach*N. Causeway Boulevard

U.S. Highway 190

19

*

*

21N. Causeway Blvd. *

12

24

29

31

27

35

10 17 36 37

25 32

2

2830

334

20

4

Highway

1088

MAP

North ShoreREAL ESTATE TRENDS 2009

West BankREAL ESTATE TRENDS 2009

By Garry [email protected] Writer

Mike Suleiman feels as though he iscaught between good and bad times.

“Everything was great,” he said,when he first laid out plans in 2006 tobuild an 18-store shopping center at2201 Barataria Blvd. “There was allkinds of new commercial building goingon all over the West Bank.”

But by the time that property, official-ly called Barataria Plaza LLC, openedfor business in 2007, Suleiman alreadywas seeing early signs of a recession.

“Then last year the economy col-lapsed, and everything went upsidedown,” Suleiman said, explaining thatfrozen credit has turned out to be hisgreatest challenge.

“People cannot get money to start abusiness and rent out a space, and thosewho might have $50,000 or $100,000

Thomas Naoum of Dover Construction, left, reviews statistics about the former Circuit City location on LapalcoBoulevard in Marrero with David Wright, Coldwell Banker senior commercial executive.

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continued on page 32

RE_trends2009 11/2/09 11:17 AM Page 31

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32A New Orleans CityBusiness

West BankREAL ESTATE TRENDS 2009

on hand don’t want to risk it.”Even so, Suleiman has managed to rent

out some of his space to tenants, includinga dance studio and a hair and nail salon.And he remains optimistic that by asking$14 per square foot for spaces ranging insize from 1,100 to 6,000 square feet, he isgoing to weather the storm.

“This is a good deal,” Suleiman said.Such deals can be found throughout

the West Bank, said Walter King, a bro-ker with Signature Properties.

“2009 is a great time for any businessto make a move into a new spacebecause they can get things muchcheaper now than when the economywent south,” he said.

What may slow the economic recov-ery of the West Bank, King said, is a lackof space.

“Businesses like brand new places,” hesaid. “But there really isn’t that much ClassA space left. You have a little in Algiers

and along Manhattan Boulevard, andthat’s about it. And the space that is avail-able on Manhattan is moving pretty fast.”

Jack Stumpf, president of JackStumpf and Associates Inc. in Harvey,sees the same problem.

“There are really very few tracts leftfor commercial development,” Stumpfsaid. “If you look at the major arteries,you may have one or two sites on BelleChasse Highway, maybe one or two onLapalco, but nothing really to speak ofon Manhattan or Barataria. The major

arteries are pretty well sold out.”Even so, David Wright, a commercial

sales associate with Coldwell BankerCommercial TEC Realtors, said com-mercial property on the West Bank hasnever been a boom and bust market.

“It stays in the middle area, which isgood,” Wright said.

Greg Lier, executive vice presidentwith the Rathborne Commercial andIndustrial Properties in Harvey, agrees.

“That kind of cycle makes the WestBank a much more stable market,” Liersaid. “We deal primarily with industrialreal estate, and even in this area theWest Bank has been pretty solid. Whatnew building there has been has typical-ly been owner- or user-occupied doingthe construction.”

That sort of stability, Stumpf said,means it will take less for the West Bankto come out of the downturn than otherparts of the country.

“We just don’t know when that’s goingto happen.”•

To Huey Long Bridge

Uptown

Central Business District

Crescent City Connection

LA 18

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r Ro

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na

Lapalco

4th

LA 541 LA 18Bus U.S. 90

Wes

twoo

d

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Industrial Blvd.

MacArthur

Destrehan

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Pete

DerbignyHuey P. Long

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l Blv

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JEFFERSON PARISH

ORLEANS PARISH

Manhattan Blvd.

Peters Rd.

Lafayette

Holid

ay

Barataria

Whi

tney

Holmes Blvd.

Fran

klin

Lapalco

Behrman

Opelousas

Gen. DeGaulleMacArthur

Stumpf

West Bank Expressway

Mississippi River

Gretna

Blvd.

9

4

56

12

1

3

8

7

112

10

13

MAP

West BankREAL ESTATE TRENDS 2009

continued from page 31

“2009 is a great time for anybusiness to make a move into anew space because they can getthings much cheaper now thanwhen the economy went south.”

Walter Kingbroker with Signature Properties

RE_trends2009 11/2/09 11:17 AM Page 32

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Real Estate Trends Fall 2009 33A

West Bank(ranked by total leasable space)

2009Rank

BuildingnameAddress

Totalleaseablesquarefeet

Percentoccupied

Quotedrentratehigh

Commonspace

Year built/renovated Floors

Largestblock ofspaceavailable(sq. feet) Availability

Leasing agentLeasing companyPhone

1 OakwoodCorporateCenter401 WhitneyAve.

132,454 96percent

$19.50 15percent

1983/2008 6 1,645 immediate Connie YoungChiasson-DouglassThe FeilOrganizationMetairie833-6334

2 TimbersOfficeBuilding3520 GeneralDeGaulleDrive

128,183 90percent

$16 12percent

1984/1995 5 4,815 13,661 Beau JenkinsSecurity NationalPropertiesBaton Rouge368-6556

3 WestparkOfficeBuilding1 SeineCourt

108,889 100percent

$21 NA 1983/1997 6 0 0 Cres GardnerBryan BurnsCres GardnerTranswesternNew Orleans799-3124

4 LapalcoSquare1545 LapalcoBlvd.

48,000 77percent

$12 0 percent 1986 1 5,500 11,000 Jack Stumpf366-6800

5 2550Building2550 BelleChaseHighway

42,120 100percent

$17 5 percent 1983 NA NA NA John Joseph FarrellNA

6 MG Plaza1604 BelleChaseHighway

30,000 96percent

$15 10percent

1984/2006 3 1,200 immediate Jack Stumpf366-6800

7 Mac ArthurProfessionalBuilding3712 MacArthur Blvd.

27,439 75percent

$14 NA 1971/1991 2 3,394 NA Stephanie HilfertySRSA CommercialReal EstateMetairie831-2363

8 CypressPark405 GretnaBlvd.

24,248 100percent

$15 4,351percent

1976/2006 2 14,290 NA A. K. GordonCrown Properties,Inc.Gretna366-4001

9 MarreroLand OfficePlaza5201WestbankExpressway

23,310 100percent

$14.75 15percent

1971/1991 4 0 NA Vincent VastolaMarrero Land &ImprovementAssociation Ltd.Marrero341-1635

10 3221BehrmanPlace3221BehrmanPlace

16,500 95percent

$16.50 0 percent 1970/2000 2 800 Nov. 1. 2009 Jack Stumpf366-6800

11 Plaza West3201 GeneralDeGaulleDrive

16,000 100percent

$14 0 percent 1983/2006 2 NA NA Jack Stumpf366-6800

12 1141Building1141Whitney Ave.

15,000 100percent

$8 0 percent 1981/2002 2 0 NA Jack Stumpf366-6800

13 2766 BelleChasse2766 BelleChasseHighway,Suites A-07and A-10

2,220 0 percent $9.84 0 percent unknown 2 1,220 immediate Skip WeberNAI/Latter & BlumInc. RealtorsNew Orleans887-3929

NA=not available/noy applicable The above information was provided by the companies themselves. Any additions or corrections should be sent on company letterhead to Research, NewOrleans CityBusiness Newspaper, 111 Veterans Blvd., Suite 1440, Metairie, LA 70005.

RE_trends2009 11/2/09 11:17 AM Page 33

Page 36: RE trends09 COVERS - New Orleans CityBusiness - Gulf Coast

34A New Orleans CityBusiness

Commercial leasing companies(ranked by commercial square feet leased)

CompanyAddress

Commercialsquare feetleased

Leasing breakdown insquare feet (office/retail/other)

Top local executiveTitlePhoneFax

Top three leases (lessee,square feet)

Stirling Properties109 Northpark Blvd., Suite300Covington 70433

2,700,000 office 2.1 million; retail600,000

Martin A. Mayerpresident and CEO(985) 898-2022(985) 898-2077

WND

Corporate Realty Inc.201 St. Charles Ave., Suite4411New Orleans 70170

2,676,000 retail 1.2 million; office 1.47million

Michael J. Siegelexecutive vicepresident581-5005581-2605

Liskow & Lewis, 70,364;Regions Bank, 56,222; Dick'sSporting Good 50,000

Max Derbes Inc.5440 Mounes Blvd., Suite100Elmwood Business ParkNew Orleans 70123

2,375,000 industrial 2.33 million; office44,000

David B. Quinnpresident733-4555733-5518

Almonaster Ave. 115,000(industrial); Harbor Circle56,000 (industrial); TimesaverAve. - 48,000 (industrial)

SRSA Commercial RealEstate2555 Severn Ave., Suite 200Metairie 70002

2,257,903 office 668,470; retail 955,034;industrial 354,973; other279,426

Barry Spizer, SteveReisig, DonSchwarcz, KirstenEarlyprincipals831-2363456-8995

Allstate, 46,866; Wells Fargo,32,814; Ostler Int., 27,752

Bridgewater Properties5612 Jefferson HighwayElmwood 70123

1,920,400 office 72,000; retail 41,600;other 1,806,800

Robert D. BridgewaterJr.managing broker andowner733-9638734-1897

WND

Sealy and Company150 James Drive E., Suite140St. Rose 70087

1,725,553 146,365 office; 1.69 millionindustrial

Daniel P. Poulinsenior regionaldirector463-5600463-5650

Ostler d.b.a. Certifit, 27,752;Kongsberg, 27,636;Progressive, 27,687

Jones Lang LaSalleAmericas Inc.1515 Poydras St., Suite1970New Orleans 70112

1,668,541 WND Greg Rierasenior vice president585-2670585-2674

WND

Latter and Blum Cos.430 Notre Dame St.New Orleans 70130

1,321,904 industrial 659,897; office159,152; retail 502,855

Robert W. Merrickchairman and CEO525-1311569-9336

WND

CB Richard Ellis701 Poydras St., Suite 3870New Orleans 70139

1,256,991 office 1.21 million; retail41,788; other 5,000

Russell Marchandsenior propertymanager323-7000323-7052

Shell Oil, 701,759; Adams &Reese, 99,078; Liskow Lewis,70,764

Rathborne Cos. LLCP.O. Box 157Harvey 70059

1,122,000 office 16,000; warehouse1,106,000

J. CorneliusRathbornepresident and CEO368-6355368-6388

WND

Marrero Land andImprovement AssociationLtd.5201 WestbankExpressway, Suite 400Marrero 70072

1,031,567 office 125,000; retail 500,000;other 406,567

N. Buckner Barkleypresident341-1635340-4277

WND

Kailas Cos. / Tower Realty3525 N. Causeway Blvd.,Suite 1040Metairie 70002

726,767 office 204,251; retail 490,416;other 32,100

Mohan Kailaspresident and CEO828-9700828-9717

First NBC, 49,357; RegionsBank, 10,531; Regions Bank,28,907

Coldwell BankerCommercial TEC RealtorsInc.400 Poydras St., Suite 2650New Orleans 70130

519,200 80 percent office; 10 percentretail; 10 percent other

Mark E. Inmanmanaging broker566-1777566-1775

WND

The above information was provided by the companies themselves. Any additions or corrections should be sent on company letterhead to Research, New Orleans CityBusiness Newspaper,111 Veterans Blvd., Suite 1440, Metairie, LA 70005.

RE_trends2009 11/2/09 11:17 AM Page 34

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Real Estate Trends Fall 2009 35A

Commercial leasing companies(ranked by commercial square feet leased)

CompanyAddress

Commercialsquare feetleased

Leasing breakdown insquare feet (office/retail/other)

Top local executiveTitlePhoneFax

Top three leases (lessee,square feet)

Lupo Enterprises145 Robert E. Lee Blvd.New Orleans 70124

500,000 WND Robert LupoCEO283-3421283-3423

Parc St. Charles Hotel, 65,000;Robert Fresh Market, 30,000;Pelican Club, 14,185

Property One Inc.4141 Veterans Blvd., Suite300Metairie 70002

453,668 office 417,433; retail 34,775;other 1,460

Quentin DastugueCEO681-3400681-3438

GSA 139,683; Entergy 29,000;Results in Learning 12,434

Re/Max CommercialBrokers Inc.3331 Severn Ave., Suite 200Metairie 700021740 N. Causeway Blvd.Mandeville 70471

451,546 office 205,909; retail 111,213;warehouse 128,590; other5,834

Richard E. Jugepresident, broker andowner838-0001835-0900

Harris County Authority 37,000;WND 36,000; ProductionAnodes Inc. 27,000

Equity Office Properties3900 N. Causeway Blvd.,Suite 1350Metairie 70002

440,096 office Bruce Sossamanleasing director219-5842219-5849

WND

Jack Stumpf andAssociates Inc.1700 Central Ave.Harvey 70058

348,700 WND Jack Stumpfpresident366-6800NA

WND

Regis Realty One Inc.1340 Poydras St., Suite1770New Orleans 70112

342,987 all office Sandra Corrigansenior vice president566-1400566-1799

WND

The Mullin Co.11 James Blvd., Suite 210St. Rose 70087

263,338 office 14,566; warehouse248,772

Charles M. Mullinpresident465-9345464-1473

WND

Crutcher-Tufts Corp.2750 Lake Villa Drive, Suite200Metairie 70002

173,826 office 134,226; other 39,600 Frederick J. Tuftsvice president887-9327887-9373

WND

Borngesser RealtyCompany LLC4415 Shores DriveMetairie 70006

90,000 retail 8,000; office 6,000; other76,000

Don Borngesserbroker/owner454-0800456-1652

WND

Select Properties Ltd.Realty6620 Riverside Drive, Suite300Metairie 70003

71,599 office 71,599 Francis E. Klippingvice president833-0044833-0848

L & L Oil-7,887; St.Farm-7,153; Dr. Bopp-5,148

DBIC PropertyManagement Inc.100 Conti St.New Orleans 70130

50,000 office 50,000 Arnold Cooperpresident581-4082698,000

WND

Prudential GardnerRealtors800 N. Causeway Blvd.,Suite 1-AMandeville 70448

40,349 90 percent office; 10 percentretail

Ted Mosesreal estate adviser(985) 674-8887(985) 626-1623

WND

Meltzer Properties4621 W. Napoleon Ave.,Suite 106Metairie 70001

35,000 100 percent retail John A. Meltzerpresident885-8400885-9610

WND

The above information was provided by the companies themselves. Any additions or corrections should be sent on company letterhead to Research, New Orleans CityBusiness Newspaper,111 Veterans Blvd., Suite 1440, Metairie, LA 70005.

RE_trends2009 11/2/09 11:17 AM Page 35

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36A New Orleans CityBusiness

Commercial property managers(ranked by total rentable commercial square feet managed locally)

NameAddress

TelephoneAlternativePhoneFax

Totalrentablecommercialsq. ft.managed:locallynationally

Percentage ofpropertyowned by:company oraffiliatesthird-partymanagement

Percentageof sq. ft.company isresponsiblefor leasing

PropertymanagersFull-timeemployees

Percent ofpropertymanaged:IndustrialOfficeRetail

Largest propertiesmanaged locally

Latter and BlumPropertyManagement Inc.5557 Canal Blvd.New Orleans 70124

733-3553(225) 297-7888483-7792

7 million10 million

0 percent100 percent

90 percent 21107

27 percent48 percent25 percent

Riverbend BusinessPark, 6200Humphreys, 1111Tulane

Stirling Properties109 Northpark Blvd.,Suite 300Covington 70433

(985) 898-2022(985) 898-2077

4 million12 million

0 percent100 percent

80 percent 13106

10 percent21 percent68 percent

Hammond Square,Heritage Plaza,Stirling CovingtonCenter

SRSA Gulf SouthManagement2555 Severn Ave.,Suite 200Metairie 70002

831-2363456-8995

4 million4 million

1 percent99 percent

100 percent 527

2 percent56 percent42 percent

Northside Plaza,1201 ElmwoodParkway OfficeBuilding, 3501 N.Causeway OfficeBuilding

Hertz InvestmentGroup400 Poydras St.,Suite 1760New Orleans 70130

299-3000 2 million10 million

100 percent0 percent

NA 15150

0 percent100percent0 percent

400, 650 and 909Poydras St.,Westpark

BridgewaterProperties5612 JeffersonHighwayElmwood 70123

733-9638734-1897

2 million2 million

31 percent69 percent

100 percent 38

90 percent5 percent5 percent

ElmwoodDistribution Center,Mid-City BusinessPark, Greater NewOrleans Warehouse

Sealy andCompany150 James Drive E.,Suite 140St. Rose 70087

463-5600463-5650

2 million13 million

37 percent63 percent

100 percent 18

92 percent8 percent0 percent

James DistributionCenter, SealyAshland DistributionCenter, BatonRouge 4

Lauricella Land Co.1200 S. ClearviewParkway, Suite 1166New Orleans 70123

733-1800733-1212733-4598

2 million2 million

100 percent0 percent

100 percent 226

0 percent7 percent93 percent

Elmwood Center,Elmwood OfficePark, MidtownSquare, AirlinePark, ManhattanWest

Jones Lang LaSalleAmericas Inc.1515 Poydras St.,Suite 1970New Orleans 70112

585-2670585-2678585-2674

2 million250 million

NA100 percent

100 percent 222

0 percent100percent0 percent

1515 Poydras St.,1555 Poydras St.,Pan American LifeCenter

Kailas Cos. / KailasManagement3525 N. CausewayBlvd., Suite 1040Metairie 70002

828-9700832-1234828-9717

1 million1 million

100 percent0 percent

100 percent 215

3 percent55 percent42 percent

Chateau ShoppingCenter, KennerPlaza ShoppingCenter, RegionsBank Building

Corporate RealtyInc.201 St. CharlesAve., Suite 4411New Orleans 70170

581-5005581-2605

1 million120,000

0 percent100 percent

100 percent 340

0 percent95 percent5 percent

One Canal Place,East JeffersonMedical Buildings,BellmeadeShopping Center

RevenuePropertiesManagement Co.Inc.2542 Williams Blvd.Kenner 70062

904-8500904-8525

1 million2 million

100 percent0 percent

100 percent 3114

0 percent0 percent100percent

Southland Mall,North Shore SquareMall

The above information was provided by the companies themselves. Any additions or corrections should be sent on company letterhead to Research, New Orleans CityBusiness Newspaper,111 Veterans Blvd., Suite 1440, Metairie, LA 70005.

RE_trends2009 11/2/09 11:17 AM Page 36

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Real Estate Trends Fall 2009 37A

Commercial property managers(ranked by total rentable commercial square feet managed locally)

NameAddress

TelephoneAlternativePhoneFax

Totalrentablecommercialsq. ft.managed:locallynationally

Percentage ofpropertyowned by:company oraffiliatesthird-partymanagement

Percentageof sq. ft.company isresponsiblefor leasing

PropertymanagersFull-timeemployees

Percent ofpropertymanaged:IndustrialOfficeRetail

Largest propertiesmanaged locally

Loeb PartnersManagement ofLouisiana LLC201 St. CharlesAve., Suite 1500New Orleans 70170

524-4444582-1425

1 millionNA

NANA

NA 315

NANANA

Place St. Charles

Marrero Land andImprovementAssociationLimited5201 WestbankExpressway, Suite400Marrero 70072

341-1635341-1636340-4277

1 million0

100 percent0 percent

100 percent 119

37 percent13 percent50 percent

OakRidge PlazaShopping Center,WestwoodShopping Center

Regis PropertyManagement LLC1010 Common St.,Suite 300New Orleans 70112

544-7025561-6017544-7029

939,7431 million

100 percent0 percent

100 percent 28

3 percent87 percent10 percent

1010 Common St.,1340 Poydras St.

The Berger Co. Inc.100 Conti St.New Orleans 70130

581-4082581-7823

925,0000

40 percent60 percent

20 percent 27

0 percent5 percent95 percent

Shops at CanalPlace; PavilionShopping Center,RiversideMarketShopping Center

Select PropertiesLtd. Realty6620 RiversideDrive, Suite 300Metairie 70003

833-0044833-0848

623,5661 million

40 percent60 percent

100 percent 316

1 percent46 percent53 percent

3421 CausewayBuilding, K-MartVeterans

Coldwell BankerCommercial TECRealtors400 Poydras St.,Suite 2650New Orleans 70130

566-1777566-1775

371,5610

0 percent100 percent

100 percent 35

7 percent93 percent0 percent

701 Loyola Ave.

Gulf States RealEstate Services109 New CamelliaBlvd.Covington 70433

(985) 792-4385(985) 792-4392

362,3670

13 percent0 percent

100 percent 112

0 percent50 percent13 percent

HCA/Medline196,767

Property One Inc.4141 Veterans Blvd.,Suite 300Metairie 70002

681-3400681-3438

350,2802 million

2 percent98 percent

45 percent 744

0 percent36 percent64 percent

Federal Fibre Mills,4141 VeteransBlvd., Cypress BendOffice Park

Meltzer Properties4621 W. NapoleonAve., Suite 106Metairie 70001

885-8400885-9610

265,000270,000

100 percentNA

100 percent 1NA

0 percent0 percent100percent

Northlake ShoppingCenter, WoodmereSquare ShoppingCenter

Crutcher-TuftsCorp.2750 Lake VillaDrive, Suite 200Metairie 70002

887-9327887-9373

173,8260

100 percentNA

NA 27

0 percent100percent0 percent

546 Carondelet St.;3545 N. I-10 ServiceRoad, Metairie;2750 Lake VillaDrive, Metairie

Preferred Realty3925 N. I-10 ServiceRoad, Suite 130Metairie 70002

455-8644885-4941

170,3180

100 percent100 percent

NA 14

8 percent68 percent24 percent

Favrot & Shanebuilding

The above information was provided by the companies themselves. Any additions or corrections should be sent on company letterhead to Research, New Orleans CityBusiness Newspaper,111 Veterans Blvd., Suite 1440, Metairie, LA 70005.

RE_trends2009 11/2/09 11:17 AM Page 37

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38A New Orleans CityBusiness

Flex-Space(ranked by total square feet)

Property nameAddressRegion

Total square feetPercent occupied Quoted rent rate

Leasing agentCompanyPhone

Jefferson Business Center520-524 Elmwood Park Blvd.Elmwood

102,20971 percent

$7-$13 Jennifer A. LeeSealy and Company150 James Drive E., Suite 140St. Rose, LA 70087463-5600www.sealynet.com

Westside II125 James Drive WestSt. Rose

68,692100 percent

$7-$11 Jennifer A. LeeSealy and Company150 James Drive East, Suite 140St. Rose 70087463-5600www.sealynet.com

Sealy Business Center I115 CanvasbackSt. Rose

67,750100 percent

$5-$7 Jennifer A. LeeSealy and Company150 James Drive East, Suite 140St. Rose 70087463-5600www.sealynet.com

Service Center 24150 Teal St.St. Rose

53,544100 percent

$6-$13 Jennifer A. LeeSealy and Company150 James Drive East, Suite 140St. Rose 70087463-5600www.sealynet.com

Sealy Business Center II110 Widgon DriveSt. Rose

49,800100 percent

$6-$13 Jennifer A. LeeSealy and Company150 James Drive East, Suite 140St. Rose 70087463-5600www.sealynet.com

Sealy Business Center III150 Widgeon DriveSt. Rose

49,800100 percent

$6-$9 Jennifer A. LeeSealy and Company150 James Drive East, Suite 140St. Rose 70087504-463-5600www.sealynet.com

Park Plaza621, 623, 625 Distributor's RowElmwood

49,60085 percent

$7-$8 Kenneth A. KuebelKen Kuebel and AssociatesP. O. Box 6275Metairie 70009504-400-8601

St. Charles II150 James Drive EastSt. Rose

49,275100 percent

$7-$12 Jennifer A. LeeSealy and Company150 James Drive E., Suite 140St. Rose, LA 70087463-5600www.sealynet.com

St. Charles I161 James Drive WestSt. Rose

47,74793 percent

$6-$10 Jennifer A. LeeSealy and Company150 James Drive E., Suite 140St. Rose, LA 70087463-5600www.sealynet.com

Canvasback150 Canvasback DriveSt. Rose

40,500100 percent

$6-$6 Jennifer A. LeeSealy and Company150 James Drive East, Suite 140St. Rose 70087463-5600www.sealynet.com

The above information was provided by the leasing agents. Any additions or corrections should be sent on company letterhead to Research, New Orleans CityBusiness, 111 Veterans Blvd.,Suite 1440, Metairie 70005

RE_trends2009 11/2/09 11:17 AM Page 38

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Real Estate Trends Fall 2009 39A

Flex-Space(ranked by total square feet)

Property nameAddressRegion

Total square feetPercent occupied Quoted rent rate

Leasing agentCompanyPhone

Eastside I190 James Drive EastSt. Rose

36,357100 percent

$8-$13 Jennifer A. LeeSealy and Company150 James Drive East, Suite 140St. Rose 70087463-5600www.sealynet.com

5612 Jensen St.5612 Jensen St., HarahanElmwood Business Park

36,00060 percent

$7-$9 Gerard Henry and Vincent VastolaMarrero Land And ImprovementAssociation Ltd.5201 Westbank Expressway, Suite400Marrero 70072341-1635www.marreroland.com

Edenborn Plaza2615-16 Edenborn Ave.Metairie

26,88091 percent

$11-$14 Gerard Henry and Vincent VastolaMarrero Land & ImprovementAssociation Ltd.5201 Westbank Expressway, Suite400Marrero 70072341-1635www.marreroland.com

Service Center 21107 Mallard St.St. Rose

23,436100 percent

$10-$13 Jennifer A. LeeSealy and Company150 James Drive East, Suite 140St. Rose 70087463-5600www.sealynet.com

Service Center 23143 Mallard St.St. Rose

23,43666 percent

$6-$11 Jennifer A. LeeSealy and Company150 James Drive East, Ste 140St. Rose 70087463-5600www.sealynet.com

Service Center 22125 Mallard St.St. Rose

23,43648 percent

$9-$13 Jennifer A. LeeSealy and Company150 James Drive East, Suite 140St. Rose 70087463-5600www.sealynet.com

1305 Distributors Row1305 Distributors Row, HarahanElmwood Business Park

22,300100 percent

$10-$12 Gerard Henry and Vincent VastolaMarrero Land And ImprovementAssociation Ltd.5201 Westbank Expressway, Suite400Marrero 70072341-1635www.marreroland.com

Westside I115 James Drive WestSt. Rose

21,408100 percent

$8-$11 Jennifer A. LeeSealy and Company150 James Drive East, Suite 140St. Rose 70087463-5600www.sealynet.com

Oak St.999 Oak St.Mandeville

18,0006,000 percent

$12-$12 Barry EscherRe/Max Commercial Brokers Inc.1740 N. Causeway Blvd.Mandeville 70471(985) 727-0001nolacommercial.com

880 Lafayette880 LafayetteNorth Shore

3,000100 percent

$6-$12 Joseph CarrollLatter & Blum, Inc.1151 N. Causeway Blvd.Mandeville 70471(985) 626-5695

The above information was provided by the leasing agents. Any additions or corrections should be sent on company letterhead to Research, New Orleans CityBusiness, 111 Veterans Blvd.,Suite 1440, Metairie 70005

RE_trends2009 11/2/09 11:17 AM Page 39

Page 42: RE trends09 COVERS - New Orleans CityBusiness - Gulf Coast

40A New Orleans CityBusiness

Shopping centers(ranked by total rentable square feet)

Shopping centerAddressArea

Total rentablesquare feetPercent occupiedYear completed Major tenants

Leasing agentLeasing company

Parkingspaces

Type ofcenter

Lakeside ShoppingCenter3301 VeteransMemorial Blvd.Metairie

1.163 million96 percent1960

Dillard's, Macy's, JCPenney, XXI by Forever 21,Apple, Pottery Barn, P.F. Chang's, RestorationHardware, Sephora

Glen WilsonGreater LakesideCorp.Metairie

6,000 superregionalshoppingcenter

Elmwood VillageCenter1200 S. ClearviewParkwayElmwood

1 million96 percent1987

Home Depot, Sports Authority, Kmart,PetSmart, Best Buy, Office Max, Marshalls

Will PlaceRobert M. Israel

NA NA

Oakwood Center197 WestbankExpresswayWest Bank

960,000NA1966/2007

Sears, Dillard's, JCPenney Brian LadeGeneral GrowthPropertiesChicago

4,558 regional

The Esplanade1401 W. EsplanadeAve.Kenner

917,000NA1985

Macy's, Dillard's, Dillard's Men Richard J. RubinoSimon PropertyGroupIndianapolis

NA NA

Hammond Square MallInterstate 12 & U.S.Highway 51Hammond

843,11585 percent2009

Dillard's, Sears, Target, JCPenney, AMCTheatre, Best Buy, Books-A-Million, TJ Maxx

Rhonda SharkawyBeezie LandryStirling PropertiesCovington

4,230 powercenter

Clearview Mall4436 VeteransMemorial Blvd.Metairie

700,00098 percent2002

Target, Bed Bath & Beyond, Sears Tara M. Lubrano 3,000 regionalshoppingcenter

Southland Mall5953 W. Park Ave.Houma

624,51390 percentNA

Dillard's, JCPenney, Sears Marc DusangMorguard | RevenuePropertiesRevenue PropertiesManagement Co.Inc.KennerKenner

2,716 enclosedmall

North Shore Square150 North Shore Blvd.Slidell

621,19296 percent1985

Dillard's, JCPenney, Sears Susan SwanMarc DusangRevenue PropertiesKenner

NA enclosedmall

Stirling CovingtonCenterInterstate 12 andHighway 21Covington

610,00095 percent2004

Target, Belk, JCPenney, Ross, Marshalls,Hollywood Theatre, Best Buy, World Market

Rhonda SharkawyStirling PropertiesCovington

NA powercenter

Stirling Slidell Centre61121 Airport RoadSlidell

345,00087 percent2003

Target, Ross Dress for Less, PetSmart, ShoeCarnival, Dress Barn, David's Bridal, MW Tux,Academy Sports & Outdoors

Rhonda SharkawyStirling PropertiesCovington

1,000 powercenter

Pavillion ShoppingCenter1000 W. EsplanadeAve.Kenner

287,04273 percent1988

Academy Sports, Rouses Grocery, FurnitureMart

Arnold CooperBarrett CooperStirling PropertiesNew Orleans

NA NA

Premier Centre3474 U.S. Highway 190Mandeville

273,000100 percent2000

Barnes & Noble, Bed Bath & Beyond, SteinMart, Albertson's, Old Navy, Gap/Gap Kids,Victoria's Secret, Rack Room Shoes, Hallmark,Banana Republic, American Eagle, Romano'sMacaroni Grill, Chili's, Aeropostale, LaMadeleine, Albertson's

Rhonda SharkawyStirling PropertiesCovington

NA powercenter

The Shops at CanalPlace333 Canal St.New Orleans

260,00097 percent1983

Saks Fifth Avenue, Brooks Brothers Open RealtyAdvisors

1,625 mixed use/lifestyle

Westside North CenterWestbank Expresswayand Stumpt BoulevardGretna

252,00090 percent1998

Academy, Capital One, Casey Jones, Citi Trend Jeff MooreRealm Realty

NA retail

Slidell CommerceCenter1000 Caruso Blvd.Slidell

252,00025 percent1980/2007

Piper Flooring, Trinitys Denise GainesPraveen KailasTower RealtyNew Orleans

1,000 commericaloffice/retailcondo

The above information was provided by the companies themselves. Any additions or corrections should be sent on company letterhead to Research, New Orleans CityBusiness Newspaper,111 Veterans Blvd., Suite 1440, Metairie, LA 70005.

RE_trends2009 11/2/09 11:17 AM Page 40

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Real Estate Trends Fall 2009 41A

Shopping centers(ranked by total rentable square feet)

Shopping centerAddressArea

Total rentablesquare feetPercent occupiedYear completed Major tenants

Leasing agentLeasing company

Parkingspaces

Type ofcenter

Magnolia ShoppingCenter7000 VeteransMemorial Blvd.Metairie

227,30095 percent1980

Kmart, Chuck E. Cheese, JoAnn's Fabric,Gordon's of Metairie

Moise S. SteegJames V. Kellett

NA large stripcenter

Carrollton ShoppingCenter3300 South CarrolltonAve.Orleans Parish

225,000NAunder construction

Firestone, Family Dollar Brian K. SuiterCarrollton CentralPlaza AssociatesMetairie

1,100 regionalshoppingcenter

Holiday Park3500-3580 HolidayDriveAlgiers

224,50090 percent2006

Bank of America, Papa Johns, O'Reilly AutoParts

David WaltemathClassic PropertiesNew Orleans

NA retail

Kenner Plaza3300-3400 WilliamsBlvd.Kenner

210,84895 percent2006/pendingfacade renovation

Burlington Coat Factory, Office Depot, PartyCity, Rite Aid

Denise GainesPraveen KailasTower RealtyNew Orleans

800 strip

Slidell CommercialCenter1000 Caruso Blvd.North Shore

200,00010 percent2008

Trinity reception hall, A Bride Adorned, LivingThe Word

Skip WeberNAI/Latter & BlumInc. RealtorsNew Orleans

898 retail andoffice

Riverwalk Marketplace1 Poydras St.New Orleans

197,000NA1986

Southern Food and Beverage Museum, TheGap, Chicos, Ann Taylor Loft, Mike Anderson's,Crazy Lobster, Nine West, Clarks

Brian LadeGeneral GrowthPropertiesChicago

0 marketplace

Seville PlazaShopping Center1905 W. Thomas St.Hammond

187,51599 percent2000

Albertson's, Big Lots, Aarons Rent to Own Beezie LandryStirling PropertiesCovington

NA neighborhoodcenter

Oak Ridge Plaza1951-1999 BaratariaBlvd.Marrero

179,803100 percent1978

Laborie's Super Market, Stage, TuesdayMorning, Dollar Tree, Aaron Rents, CiCi'sPizza, It's Fashion, The Athlete's Foot,America's Best Contacts

Vincent VastolaMarrero Land andImprovementAssociation, Ltd.Marrero

903 communityshoppingcenter

Northlake ShoppingCenter1816-1896 N.Causeway ApproachMandeville

163,00094 percent1981

Fresh Market, Office Depot, Stage, Gordons John MeltzerMeltzer PropertiesMetairie

860 community

Gentilly ShoppingCenterGentilly Boulevard atElysian Fields AvenueNew Orleans

160,00060 percent1964

Family Dollar, Cash America, Auto Zone,Capital One, Rainbow, Sherwin William, SimplyFashions, Radio Shack, Sally's Beauty Supply

Judy SlackNAI Latter & BlumInc. RealtorsNew Orleans

590 strip center

Midtown SquareShopping Center1555 Gause Blvd.Slidell

152,21285 percent1997

Office Depot, Hobby Lobby, Stage Will PlaceRobert M. IsraelLauricella &AssociatesHarahan

NA power strip

Riverside MarketShopping Center5300 Tchoupitoulas St.New Orleans

146,00097 percent1988

Winn-Dixie, Steinmart, Walgreens, Petco, Pier1, Kinko

Arnold CooperDBIC PropertyManagementStirling PropertiesNew OrleansNew Orleans

NA regional

Riverside MarketShopping Center5300 Tchoupitoulas St.New Orleans

146,00092 percent1988

Winn-Dixie, Walgreens, Pier 1 Imports, SteinMart, Petco

Barrett CooperStirling PropertiesCovington

400 neighborhoodcenter

West LakeshoreShopping Center137-149 Robert E. LeeBlvd.Lakefront

145,00098 percentrenovated 2006

Robert Fresh Market, Chateau Cafe, FidelityHomestead

R. Tom Lupo 400 commercial

Plaza 190 ShoppingCenterGause Boulevard andHighway 11Slidell

115,13597 percent1974

Big Lots, Rite Aid, Tuesday Morning, FamilyDollar, Rent-A-Center, Quiznos, Popeyes

Chris AbadieStirling PropertiesCovington

NA regional

The above information was provided by the companies themselves. Any additions or corrections should be sent on company letterhead to Research, New Orleans CityBusiness Newspaper,111 Veterans Blvd., Suite 1440, Metairie, LA 70005.

RE_trends2009 11/2/09 11:17 AM Page 41

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42A New Orleans CityBusiness

Shopping centers(ranked by total rentable square feet)

Shopping centerAddressArea

Total rentablesquare feetPercent occupiedYear completed Major tenants

Leasing agentLeasing company

Parkingspaces

Type ofcenter

Lapalco VillageShopping Center5901-5999 LapalcoBlvd.Marrero

111,22196 percent1986

Winn-Dixie, Family Dollar, Cash America, SoulTrain

Judy SlackNAI Latter & Blum,Inc. RealtorsNew Orleans

NA community

Belle Meade605 Lapalco Blvd.Gretna

108,23072 percent1981

Breaux Mart, AT&T, Hallmart, Cash Advance Andrea AronsHusemanCorporate RealtyInc.New Orleans

576 shoppingcenter

Westwood ShoppingCenter1020-1082 WestbankExpresswayWestwego

100,57598 percent1974

Winn-Dixie, It's Fashion Metro, Rite-Aid, DollarGeneral, The Athlete's Foot, Radio Shack,Subway, H&R Block

Vincent VastolaMarrero Land andImprovementAssociation Ltd.Marrero

391 community

M.A. Green ShoppingCenter7801-7951 Airline DriveMetairie

100,423100 percent1967

O'Reilly Auto Parts, Metairie Bank, CashAmerica, Family Dollar, Rose Dieu Restaurant

Judy SlackNAI Latter & Blum,Inc. RealtorsNew Orleans

NA community

Airline Park ShoppingCenter6500-6600 Airline DriveMetairie

100,00095 percent1962

Auto Zone, Save A Lot, Family Dollar Will PlaceRobert M. IsraelLauricella &Associates

NA NA

Manhattan ShoppingCenter1500 WestbankExpresswayHarvey

93,00080 percent2008

Marshalls, Office Depot Will PlaceRobert M. Israel

NA NA

Pontchartrain PlaceShopping Center3501 Severn Ave.Metairie

91,288NA1978

H&R Block, Invisalign, Kid to Kid, GallerieSevern, Aspen Clinic, Penedo & Swiber,Eyemasters, Prudential Real Estate, Jazz Salon& Boutique, Planet Beach, Mandarin House

Judy SlackNAI Latter & BlumInc. RealtorsNew Orleans

NA community

Bullard SquareShopping Center7500 Bullard Ave.Eastern New Orleans

90,00020 percent2004/renovated2008

Beauty Depot, Jackson Hewitt Tax Service Wade T. Verges7500 Bullard LLCNew Orleans

400 neighbor

Oak Park ShoppingCenter4700 Paris Ave.New Orleans

84,00045 percent1957/Katrinarenovations notcomplete

Dollar General, Adrian's Bakery, LaundryBasket, American Federation Teachers/UnitedTeachers of New Orleans, Angela's DryCleaning, Great Wok, Gentilly Senior Center,Ringlett's Hair Salon, Subway

Oak Park ShoppingCenterNew Orleans

326 community

Old Metairie VillageShopping Center701 Metairie RoadMetairie

83,42995 percent1987

Blockbuster, CC's Coffee, Planet Beach,Subway, Burger King, Massage Envy, TCBY

Amy FarnsworthStirling PropertiesCovington

NA NA

Woodmere SquareShopping Center3407 Lapalco Blvd.Harvey

79,740100 percent1985

NA John MeltzerMeltzer PropertiesMetairie

NA NA

Donna Villa ShoppingCenter9601 Chef MenteurHighwayEastern New Orleans

74,505100 percent1960

O'Reilly's, Home Decor, CitiTrends Joanne HughesPropertyManagement GroupNew Orleans

350 shoppingcenter

Holiday SquareShopping Center4001 General DegaulleNew Orleans

73,00093 percent1999

Rouses Grocery, Burks, Sewerage and WaterBoard of New Orleans

Arnold CooperBarrett CooperDBIC PropertyManagementStirling PropertiesNew OrleansNew Orleans

NA neighborhood

The Village Center4800-4860 GeneralMeyer Ave.New Orleans

70,00075 percent1970

Harry's Ace, Auto Zone, Family Dollar, Subway Jack StumpfJack Stumpf &AssociatesHarvey

180 strip

Barlon PlazaShopping Center7101 VeteransMemorial Blvd.Metairie

67,415100 percent1961

Walgreens, Big Lots, Dollar General Eben T. WatkinsEben Watkins &AssociatesNew Orleans

316 neighborhood

RE_trends2009 11/2/09 11:17 AM Page 42

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Real Estate Trends Fall 2009 43A

Shopping centers(ranked by total rentable square feet)

Shopping centerAddressArea

Total rentablesquare feetPercent occupiedYear completed Major tenants

Leasing agentLeasing company

Parkingspaces

Type ofcenter

Chateau Village3501 Chateau Blvd.Kenner

65,00075 percent2008-09 partialdemo of existing

CVS, Regions, First NBC Denise GainesPraveen KailasTower RealtyNew Orleans

800 retail strip

Oakridge PlaceShopping Center800 Metairie RoadMetairie

60,722100 percent1978/renovated1994

Pier 1 Imports, Langenstein's Grocery, Rite Aid,Capital One, Hallmark, PJ's Coffee

Amy FarnsworthStirling PropertiesCovington

NA community

Read Row ShoppingCenter7040-7094 Read Blvd.Eastern New Orleans

56,61280 percent1980

Orleans Furniture Joanne HughesPropertyManagement GroupNew Orleans

150 shoppingcenter

Jackson BrewereyMillhouse600 Decatur St.French Quarter

54,00090 percent1996

Chico's, Cajun Clothing, Pat O's on the River,Riverview Room

NA NA

Independence Mall4241 Veterans Blvd.Metairie

52,33689 percent1983

Diagnostic Imaging Services, Chili's Grill & Bar,Sake Cafe, Marble Slab

Stephanie HilfertySRSA CommercialReal Estate Inc.Metairie

350 NA

Festival Plaza8700 Lake Forest Blvd.Eastern New Orleans

50,000NA1990/renovationincomplete

NA Wade T. VergesVerges PropertiesNew Orleans

350 neighborhoodshoppingcenter

Hollycrest Plaza Inc.600 North Highway 190,Suite 212Covington

50,00090 percent1985

The Finish Line, Bike Zone, Four Seasonsrestaurant

Susie Bishop 220 shopping/retail

Chateau CommonsShopping Center819 W. EsplanadeKenner

49,74595 percent2003

Walgreens, Starbucks Jeff MooreRealm Realty

NA retail

Lapalco Square1545 Lapalco Blvd.Harvey

48,00084 percent1984

Blockbuster, Party City Jack StumpfJack Stumpf &Associates Inc.Harvey

240 neighborhoodstrip

Bullard CorporateCenter5555 BullardEastern New Orleans

40,00070 percent2004/renovated2006

Davita Dialysis, Coffee Shop, Yay's Cleaners Wade T. VergesVerges PropertiesNew Orleans

300 neighborhoodcenter

Slidell Square2131-2165 Gause Blvd.St. Tammany

36,70093 percent1980

BFL Joanne HughesPropertyManagement GroupNew Orleans

175 shoppingcenter

The Marketplace atJackson Brewery400 N. Peters St.French Quarter

35,000100 percent1878

Hard Rock Cafe, Landry's Seafood Restaurant,Urban Outfitters, French Connection, PeachesMusic, WISH

Arnold CooperDBIC PropertyManagement Inc.New Orleans

NA NA

Avondale Square2800 Highway 90Avondale

32,00050 percent1988

CVS, Family Dollar Arnold CooperDBIC PropertyManagementNew Orleans

NA NA

Zuppardo Center400 Lapalco Blvd.Gretna

30,000100 percent1980

Bon Marche' Furniture, Major Video Jack StumpfJack Stumpf &Associates Inc.Harvey

150 strip

Robert E. SmithShopping Center801-833 Harrison Ave.Lakeview

30,000100 percentrenovated 2006

West Marine, Lakeview Grocery on Harrison R. Tom Lupo 80 commercial

Borders Center3131 Veterans Blvd.Metairie

29,73685 percent1997

Borders Bookstore Ronald RobertRauberSelect PropertiesLtd. RealtyMetairie

138 retail andoffice

Belle Terre ShoppingCenter1152-1180 TerryParkwayTerrytown

26,00072 percent1985

CarQuest Parts Joe MaerkeJack Stumpf &AssociatesHarvey

150 strip

The above information was provided by the companies themselves. Any additions or corrections should be sent on company letterhead to Research, New Orleans CityBusiness Newspaper,111 Veterans Blvd., Suite 1440, Metairie, LA 70005.

RE_trends2009 11/2/09 11:17 AM Page 43

Page 46: RE trends09 COVERS - New Orleans CityBusiness - Gulf Coast

44A New Orleans CityBusiness

Shopping centers(ranked by total rentable square feet)

Shopping centerAddressArea

Total rentablesquare feetPercent occupiedYear completed Major tenants

Leasing agentLeasing company

Parkingspaces

Type ofcenter

Chalmette ShoppingCenter1918 E. Judge PerezDriveSt. Bernard

25,48070 percent1977

Dollar Tree Joanne HughesPropertyManagement GroupNew Orleans

75 shoppingcenter

Esplanade Plaza3535 SevernMetairie

24,240100 percent1978

CVS Pharmacy, Taqueria Corona, JacksonHewitt, Jenny Craig Weight Loss, Framin Place& Gallery, Cookie Bouquet, Wok to Go

Judy SlackNAI Latter & BlumInc. RealtorsNew Orleans

NA community

Market Square9301 Lake Forest Blvd.Eastern New Orleans

24,00050 percent2006

Jackson Hewitt Taxes, Samie's Chicken,Cleaners, Uniform Shop, Nail Gallery

Wade T. VergesVerges PropertiesNew Orleans

80 neighborhoodshoppingcenter

Terry ParkwayShopping Center632-654 Terry ParkwayTerrytown

18,00094 percent1980

NA John MeltzerMeltzer PropertiesMetairie

NA strip

Crossroads1705 Highway 59Mandeville

17,00080 percentNA

NA Joseph W. Carroll IILatter & Blum Inc.Mandeville

NA NA

Manhattan ShoppingCenter1818 Manhattan Blvd.Harvey

17,00086 percent2004

Alltel, Singer Kitchen Bobby HebertJack Stumpf &Associates Inc.Harvey

85 local strip

Oak Cove Center3176 Barataria Blvd.Marrero

17,000100 percent2005

Dollar General, Anytime Fitness center is ownermanaged afterrecent sale

NA NA

Belle Barataria Centre1855 Barataria Blvd.Marrero

14,00080 percent2005

Shane's Rib Shack, Sprint, Quizno's Vincent VastolaMarrero Land andImprovementAssociation Ltd.Marrero

88 strip

Frenchman's CreekShopping Center2221 TrancontinentalMetairie

13,397100 percent1978/2009renovated

NA Cassie GoldsboroSusan WallacePreferred Realty Inc.Metairie

46 NA

Willow Tree7701 DwyerEastern New Orleans

12,00040 percent1985/renovated2008

Hill Brothers Construction Co., Dress Shop,Church

Wade T. VergesVerges PropertiesNew Orleans

50 neighborhoodshoppingcenter

Henna Plaza1401 WestbankExpresswayWestwego

11,50085 percent2006

Snap Fitness, Vermillion Wireless Barry BurkartJack Stumpf &AssociatesHarvey

55 strip

Alvena Smith LupoShopping Center901-911 Harrison Ave.Lakeview

11,206100 percentrenovated 2006

Lakeview Harbor, Young's Cleaners, TasteeRestaurant

R. Tom Lupo 25 commercialstrip center

Lapalco ShoppingCenter320 Lapalco Blvd.Gretna

11,000100 percent1984

Leslie Pool Supply Cybble BucceriJack Stumpf &Associates Inc.Harvey

55 strip center

Millstream ShoppingCenter3440 Division St.Metairie

10,006100 percent1988/2000

NA Cassie GoldsboroSusan WallacePreferred Realty Inc.Metairie

50 NA

The above information was provided by the companies themselves. Any additions or corrections should be sent on company letterhead to Research, New Orleans CityBusiness Newspaper,111 Veterans Blvd., Suite 1440, Metairie, LA 70005.

RE_trends2009 11/2/09 11:17 AM Page 44

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Real Estate Trends Fall 2009 45A

Shopping centers(ranked by total rentable square feet)

Shopping centerAddressArea

Total rentablesquare feetPercent occupiedYear completed Major tenants

Leasing agentLeasing company

Parkingspaces

Type ofcenter

Williams LupoShopping Center900-910 Harrison Ave.Lakeview

9,149100 percentrenovated 2006

Lago, Coral Reef Pet Shop, Avenue Art R. Tom Lupo 40 commercialstrip center

Whitewater Creek6824 Veterans Blvd.Metairie

8,331100 percent1979

NA Cassie GoldsboroSusan WallacePreferred Realty Inc.Metairie

36 NA

Grove I4917 W. Napoleon Ave.Metairie

7,645100 percentrenovated 2009

NA Cassie GoldsboroSusan WallacePreferred RealtyMetairie

38 NA

Woodland Center4600 Highway 22Mandeville

4,50091 percent1985

Dr. Hebert Marcia D'AmicoMike D'AmicoProperty One Inc.Mandeville

NA neighborhood

Grove II3399 W. EsplanadeMetairie

2,0020 percentNA

NA Cassie GoldsboroSusan WallacePreferred RealtyMetairie

10 NA

The above information was provided by the companies themselves. Any additions or corrections should be sent on company letterhead to Research, New Orleans CityBusiness Newspaper,111 Veterans Blvd., Suite 1440, Metairie, LA 70005.

Business/industrial campuses or complexes(ranked by total square footage for which the leasing company has responsibility)

Property nameAddress

Total square footagefor which the leasingcompany hasresponsibility

Plannedsquarefootage

Totalacreage

Officeavailable

Servicecenter Warehouse

Rent rangeper squarefoot

Rental contactCompanyPhone

James Business Park150 James Drive E.,Suite 140St. Rose

921,887 2,875,000 200 Y Y Y $5.10-$17.50 Daniel P. PoulinSealy and Co.St. Rose463-5600

Former DelchampsWarehouse407 Pride DriveHammond

706,000 WND 60 Y N Y $4-$4.50 Ben DerbesMax J. Derbes Inc.New Orleans

Northpark BusinessPark109 Northpark Blvd.Covington

600,000 WND WND Y Y N WND Barry SpizerLee M. de leHoussayeSRSA CommercialReal EstateERA StirlingProperties Inc.Metairie831-2363(985) 898-2022

Riverbend BusinessParkRiverbend BoulevardSt. Rose

592,000 WND WND Y Y Y $3.85-$10net

Trimble GreenNAI/Latter & BlumInc.New Orleans669-8722

Labarre Business Park901 Labarre RoadMetairie

313,000 WND WND N N Y $5.40 squarefoot net

Gerard E. HenryMax J. Derbes Inc.New Orleans733-5985

RE_trends2009 11/2/09 11:17 AM Page 45

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46A New Orleans CityBusiness

Business/industrial campuses or complexes(ranked by total square footage for which the leasing company has responsibility)

Property nameAddress

Total square footagefor which the leasingcompany hasresponsibility

Plannedsquarefootage

Totalacreage

Officeavailable

Servicecenter Warehouse

Rentrangepersquarefoot

Rental contactCompanyPhone

Alamosa Business Park68425 Highway 59North Shore

300,000 150,000 20 Y Y Y $10 andup

Robert TuftsRaymond C. Fink IIIKW CommercialMandeville(985) 727-2177

Rathborne IndustrialParkP.O. Box 157Harvey

240,000 0 40 Y N Y WND Annette McDowRathborne PropertiesLLCHarvey, LA504-368-6355

New Orleans RegionalBusiness Park13801 Old Gentilly RoadNew Orleans

130,000 400,000 7,000 Y N Y contactoffice

Zandra WashingtonRoy N. Mack Sr.254-4603

Marrero IndustrialSubdivision3400 block of WestbankExpresswayWest Bank

125,000 WND WND Y N Y WND Vincent VastolaMarrero Land andImprovementAssociation Ltd.Marrero341-1635

The PreserveWaterfront Office ParkHelenbirg RoadCovington

80,000 80,000 7.5 Y N N $19 Rich MautiRe/Max CommercialBrokers Inc.Mandeville(985) 727-0001

Plantation BusinessCampus104 Campus Drive E.Destrehan

77,311 WND WND N Y Y $7-$9 Greg RieraJones Lang LaSalleNew Orleans585-2670

James Business Park916 W. Airline HighwayKenner/St. Charles

36,250 1,500,000 275 Y Y Y $6-$16.50 Charles M. MullinThe Mullin Co. Inc.St. Rose465-9345

Holiday Office Park3520 Holiday DriveAlgiers

7,200 9,600 5 Y N N $17-$19 David WaltemathClassic PropertiesManagementNew Orleans364-2350

Orchard Office ParkBuilding D46 Louis Prima DriveCovington

3,522 WND WND Y N N WND Barrett CooperStirling PropertiesNew Orleans(985) 898-2022

Orchard Office ParkBuilding G40 Louis Prima DriveCovington

3,200 WND WND Y WND N WND Barrett CooperStirling PropertiesCovington(985) 898-2022

Columbia LandingCondos Unit 3616 Rutland St.Covington

2,000 WND WND Y N N $18 Joseph W. Carroll IILatter & Blum Inc.Mandeville(985) 626-5695 ext.22152

The above information was provided by the leasing agents or leasing companies. Any additions or corrections should be sent on company letterhead to Research, New OrleansCityBusiness, 111 Veterans Blvd., Suite 1440, Metairie 70005

RE_trends2009 11/2/09 11:17 AM Page 46

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Real Estate Trends Fall 2009 47A

Warehouse space(ranked by total square feet)

Property nameAddressArea

Total square feetPercent occupied

Rail serviceLoading dock

Sale priceRent range per squarefoot

Leasing agentLeasing company

Delchamps Facility407 Pride Blvd.Hammond

665,867100 percent

YY

not for salenot for rent

Ben DerbesMax J. Derbes Inc.New Orleans

Riverbend Distribution Center I100 Riverbend Blvd.St. Rose

367,37056 percent

NY

NA$3.85-$4.15

Trimble GreenNAI/Latter & Blum Inc.New Orleans

1420 Sam's Ave.1420 Sam's AveElmwood

355,350100 percent

NY

not for salenot for rent

David B. QuinnMax J. Derbes Inc.

Airline Highway Commerce Center10057 Airline DriveSt. Rose

275,00050 percent

YY

NA$5.50 gross

Kevin Kelly

6200 Humphreys St.6200 Humphreys St.Harahan

267,50072 percent

NY

NA$3.50

Al DavisDuff FriendLatter & BlumNew Orleans

Office Suites at 1050 (formerLouisiana Coca-Cola Bottling Co.)1050 S. Jefferson Davis ParkwayMid-City

259,25175 percent

NY

NA$3-$6

Edward Halpern

James Distribution Center I310 James DriveSt. Rose

253,614100 percent

NY

NA$5.50-$6.50

Jennifer A. LeeSealy and Co.St. Rose

River Road Commerce Center640 River RoadWestwego

242,40067 percent

YY

$12 million$5.50 gross

Kevin Kelly

800 Atlantic St.800 Atlantic St.Algiers

240,00067 percent

NY

NA$5 gross

Kevin Kelly

5200 Coffee Drive5200 Coffee DriveUptown

225,000100 percent

YY

$12 million$6 gross

Kevin Kelly

6040 Beven St.6040 Beven St.Elmwood

213,60060 percent

NY

$14,000,000$7 gross

Kevin Kelly

Labarre Business Center901 Labarre RoadLabarre Business Park

210,00071 percent

NY

not for sale$5.40 net

Gerard E. HenryMax J. Derbes Inc.New Orleans

600 St. George Ave.600 St. George Ave.Elmwood Business Park

180,02568 percent

NY

not for sale$2.50-$3 net

David B. QuinnMax J.Derbes Inc.New Orleans

Riverbend Distribution Center II101 Delta DriveSt. Rose

180,000100 percent

NY

NA$4.15-$8

Trimble GreenNAI/Latter & Blum Inc.New Orleans

Building 7200 Crofton RoadKenner

177,60077 percent

NY

NA$3.95

Charles M. MullinThe Mullin Co. Inc.St. Rose

Michoud Boulevard CommerceCenter4200 Michoud Blvd.New Orleans

176,000100 percent

NY

NA$6 gross

Kevin Kelly

Edwards Distribution Center1300 Edwards Ave.Elmwood

160,59395 percent

NY

NA$4-$5

Gerard HenryMax DerbesNew Orleans

K&B Elmwood Distribution Center1300 Edwards Ave.Elmwood Business Park

159,831100 percent

NY

not for sale$4.50 net

Gerard E. HenryMax J. Derbes Inc.New Orleans

5301 Jefferson Highway5301 Jefferson HighwayElmwood Business Park

137,000100 percent

NY

not for salenot for rent

David B. QuinnMax J. Derbes Inc.New Orleans

Parkway Center II700 Elmwood Park Blvd.Elmwood Business Park

136,000100 percent

NY

NA$4-$4.50

Trimble GreenNAI/Latter & Blum Inc.New Orleans

Industry Road Distribution Center940 Industry RoadKenner

116,32080 percent

NY

not for sale$3.25-$3.75 net

David B. QuinnMax J. Derbes Inc.New Orleans

7400 Townsend Place7400 Townsend PlaceEastern New Orleans

112,500100 percent

NY

NA$2.50-$2.75

Duff FriendLatter & BlumNew Orleans

132-34 Harbor Circle132-34 Harbor CircleEastern New Orleans

108,04340 percent

NY

NA$2.50-$2.75

Duff FriendLatter & BlumNew Orleans

1008 Elmwood Park1008 Elmwood Park Blvd.Harahan

104,0000 percent

NY

$3.2 million$5.50-$7.50

Robert BridgewaterBridgewater PropertiesNew Orleans

Key: N=No Y=Yes nfs=not for sale nfr=not for rent NA=not available/not applicable The above information was provided by the leasing agents. Any additions or corrections should be sent oncompany letterhead to Research, New Orleans CityBusiness, 111 Veterans Blvd., Suite 1440, Metairie 70005

RE_trends2009 11/2/09 11:17 AM Page 47

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48A New Orleans CityBusiness

Warehouse space(ranked by total square feet)

Property nameAddressArea

Total square feetPercent occupied

Rail serviceLoading dock

Sale priceRent range per squarefoot

Leasing agentLeasing company

2601-2603 L&A Road2601 L&A RoadMetairie

103,20864 percent

NY

not for sale$5.50

Gerard E. HenryMax J. Derbes Inc.New Orleans

Labarre Business Center2601 L&A RoadLabarre

101,80265 percent

NY

NA6

Gerard HenryMax DerbesNew Orlens

5042 Bloomfield St.5042 Bloomfield St.Elmwood Business Park

100,000100 percent

NY

not for salenot for rent

David B. QuinnMax J. Derbes Inc.New Orleans

61450 Lemieux Blvd.61450 Lemieux Blvd.Big Branch

90,0000 percent

NY

NA$16,700

Joseph W. Carroll IILatter & Blum Inc.Mandeville

Brookhollow Center5800 Jefferson HighwayElmwood

89,335100 percent

NY

NANA

Robert BridgewaterBridgewater PropertiesNew Orleans

Brookhollow/River Road5801 River RoadElmwood Business Park

85,08390 percent

NY

not for sale$5.75

David B. QuinnMax J. Derbes Inc.New Orleans

Halpern Warehouse1148 South Peters St.Warehouse District

82,5000 percent

NY

NANA

Edward HalpernSJD-CC LLCNew Orleans

803 Jefferson Highway803 Jefferson HighwayJefferson

78,450100 percent

NY

not for salenot for rent

Gerard E. HenryMax J. Derbes Inc.New Orleans

SJD-CC LLC900 Jefferson Davis ParkwayMid-City

69,986100 percent

NY

NANA

Edward Halpern

415 Edwards Ave.415 Edwards Ave.Jefferson

65,780100 percent

NY

not for salenot for rent

Keith G. HenryMax J. Derbes Inc.New Orleans

Parkway Center I550 Elmwwod Park Blvd. / 5400Pepsi St.Elmwood Business Park

65,50493 percent

NN

NA$4-$9

Trimble GreenNAI/Latter & Blum Inc.New Orleans

Cypress Point Business Center660-668 Distributors RowElmwood Business Park

61,44496 percent

NY

NA$4-$9.50

Trimble GreenNAI/Latter & Blum Inc.New Orleans

Riverbend Service Center1000 Riverbend Blvd.St. Rose

44,27387 percent

NY

NA$8-$10

Trimble GreenNAI/Latter & Blum Inc.New Orleans

246 Harbor Circle246 Harbor CircleLakratt Business Park

44,000100 percent

NY

not for salenot for rent

David B. QuinnMax J. Derbes Inc.New Orleans

924 Kenner Ave.924 Kenner Ave.NA

30,00020 percent

NY

NA$4.50 to $7.50

Rich MautiMauti Meredith Scoggin PropertiesMandeville

3030 N. Arnoult3030 N. ArnoultMetairie

22,0400 percent

NY

$995,000$2.70

Skip WeberNAI/Latter & Blum Inc. RealtorsNew Orleans

1021 Al Davis Road1021 Al Davis RoadElmwood Business Park

21,0000 percent

NN

not for sale$6.95 net

Gerard E. HenryMax J. Derbes Inc.New Orleans

Airport Road Warehouse43254 S. Airport RoadHammond

20,0000 percent

NN

$1.67 million withadjoining 1.5 acres$6.75

Joe KramerDavid SpearStirling PropertiesCovington

Boyce166 Boyce RoadHarahan

20,000100 percent

YY

NA$4.50

Praveen KailasDenise GainesTower RealtyMetairie

Tifton1100 24th St.Kenner

18,00090 percent

NANA

NA$6

Denise GainesPraveen KailasTower RealtyNew Orleans

Skyway Park30 Crofton RoadNA

14,648100 percent

NY

NA$4.71

Cassie GoldsboroPreferred Realty Inc.Metairie

10389 Airline Highway10389 Airline HighwayKenner/St. Charles

14,4000 percent

NY

1,495,000NA

Charles M. MullinThe Mullin Co. Inc.St. Rose

The Edson Building21357 Marion LaneMandeville

13,22252 percent

NN

NA$10-$14

Joseph W. Carroll IILatter & Blum Inc.Mandeville

Key: N=No Y=Yes nfs=not for sale nfr=not for rent NA=not available/not applicable The above information was provided by the leasing agents. Any additions or corrections should be sent oncompany letterhead to Research, New Orleans CityBusiness, 111 Veterans Blvd., Suite 1440, Metairie 70005

RE_trends2009 11/2/09 11:17 AM Page 48

Page 51: RE trends09 COVERS - New Orleans CityBusiness - Gulf Coast

Warehouse space(ranked by total square feet)

Property nameAddressArea

Total square feetPercent occupied

Rail serviceLoading dock

Sale priceRent range per squarefoot

Leasing agentLeasing company

2605 Delaware2605 Delaware Ave.Kenner

12,681100 percent

NY

$499,000$0

Skip WeberNAI/Latter & Blum Inc. RealtorsNew Orleans

38189 Commercial Court38189 Commercial CourtSlidell

12,0000 percent

NN

$732,000$5

Skip WeberNAI/Latter & Blum Inc. RealtorsNew Orleans

Pelican Service Center1401 Distributors RowElmwood Business Park

10,50091 percent

NN

not for sale$10.50

Ben DerbesMax J. Derbes Inc.New Orleans

1317 Carroll1317 Carroll St.Kenner

10,00050 percent

NN

$0$5.75

Skip WeberNAI/Latter & Blum Inc. RealtorsNew Orleans

38183 Commercial Court38183 Commercial CourtSlidell

9,0000 percent

NN

$549,000$7.87

Skip WeberNAI/Latter & Blum Inc. RealtorsNew Orleans

3909 Tournefort St.3909 Tournefort St.Chalmette

7,0000 percent

NN

$350,000$6

Skip WeberNAI/Latter & Blum Inc. RealtorsNew Orleans

Warehouse E802 Short St.Kenner

4,9000 percent

NY

NA$3.80

Charles M. MullinThe Mullin Co. Inc.St. Rose

212 23rd St.212 23rd St.Kenner

3,8050 percent

NN

$1,685 per month$5.31

Cassie GoldsboroSusan WallacePreferred RealtyMetairie

811 Ramon St.811 Ramon St.Mandeville

3,000100 percent

NN

NANA

Joseph W. Carroll IILatter & Blum Inc.Mandeville

56742 Dwyer56742 Dwyer Ave.Slidell

2,0000 percent

NN

$0$10.20

Skip WeberNAI/Latter & Blum Inc. RealtorsNew Orleans

Key: N=No Y=Yes nfs=not for sale nfr=not for rent NA=not available/not applicable The above information was provided by the leasing agents. Any additions or corrections should be sent oncompany letterhead to Research, New Orleans CityBusiness, 111 Veterans Blvd., Suite 1440, Metairie 70005

From our humble beginnings in 1990, ISMG has grown tobecome one of the nation’s largest, most innovative, progressiveand responsive security service organizations.

Today, our service reach covers 21 States. More importantly, we are proudto say that we are the preferred vendor and security partner for many ofthis nation’s most recognized companies, corporations and organizations.

Knowing who to trust when you want peace of mind and assurance thatyour security mission will not be compromised is imperative. For many,the right choice has been and remains today the International SecurityManagement Group (ISMG) and its “Guaranteed Quality Service.”

Atlanta • Birmingham • Charlotte • Charleston • Chicago

Columbia • Columbus • Greensboro • Jackson • Miami

Nashville • New Orleans • New York • Orlando • Richmond

St. Petersburg • Tampa • Washington DC • Winston-Salem

365 Canal Street • New Orleans, LA • 504.528.8299 • www.ismg-usa.com

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HammondPattie Amador

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Tammy Williams

(985) 543-3759

LapalcoCaryl Gerkin

(504) 366-4883

MandevilleMichael Buras

(985) 674-5481

MetairieAnn Loggins

(504) 832-2962

SlidellPam Breland

(985) 726-2303

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