Louisiana

W.R. Grace, Chevron to Build $135M Production Plant in Louisiana

by John Nelson May 20, 2015

LAKE CHARLES, LA. — A joint venture between W.R. Grace & Co. and Chevron Products Co. will invest $135 million to build a residue hydroprocessing catalyst production plant at the existing Grace manufacturing plant in Lake Charles. The joint venture, known as Advanced Refining Technologies (ART), expects to create roughly 30 new direct jobs with the expansion, and Louisiana Economic Development (LED) expects approximately 88 new indirect jobs will be created. Additionally, 190 construction jobs will be created. Grace’s existing 120-acre manufacturing site is located on the Calcasieu River. The facility produces alumina, sodium silicate, fluid-cracking catalysts, hydroprocessing catalysts and zeolites. The state of Louisiana facilitated the investment with an incentive package including a $2.4 million Modernization Tax Credit. ART will also use the LED FastStart workforce development program, as well as Louisiana’s Quality Jobs and Industrial Tax Exemption programs. ART will begin hiring when construction kicks off in late 2015. Completion is slated for early 2018.

May 20, 2015

Hospitality Louisiana Southeast

Hilton Worldwide Opens DoubleTree by Hilton Lafayette in Louisiana

by John Nelson May 6, 2015

LAFAYETTE, LA. — Hilton Worldwide has opened DoubleTree by Hilton Lafayette, a 15-story, 327-room hotel located at 1521 W. Pinhook Road near downtown Lafayette and three miles from Lafayette Regional Airport. The hotel is located along the banks of the Vermillion River and features a newly updated outdoor pool and sundeck, 24-hour fitness center, 24-hour business center, 22,000 square feet of meeting space and complimentary Wi-Fi. The hotel also features the SoLA Restaurant and Lobby Bar and 337, a bar located on the ground floor of the hotel. The property was formerly a Hilton hotel and has since undergone a $12 million renovation. Garrison Wright Prop Co JV LLC owns the hotel and Hospitality Management Advisors manages the property.

May 6, 2015

Louisiana Retail Southeast

Stirling Properties, CBL & Associates Announce New Tenants for Fremaux Town Center

by John Nelson May 1, 2015

SLIDELL, LA. — Stirling Properties and CBL & Associates Properties Inc. have announced 12 new tenants coming to Phase II of Fremaux Town Center, a shopping center in Slidell. The 285,000-square-foot Phase II is slated for an October 2015 completion. The new tenants are: Off Broadway Shoe Warehouse, Forever 21 Red, Pier 1 Imports, Victoria’s Secret, Buckle, Charlotte Russe, LOFT, Bath & Body Works, Torrid, Journeys, Claire’s and Which Wich. Phase I of Fremaux Town Center opened in March 2014 with anchor tenants Dick’s Sporting Goods, Michael’s, T.J. Maxx, Kohl’s and LA Fitness. Upon completion, the shopping center will span 635,000 square feet.

May 1, 2015

Fairfield Inn & Suites by Marriott West Monroe

Hospitality Louisiana Southeast

Hotel Equities to Manage Hotel Under Construction in Louisiana

by John Nelson April 21, 2015

WEST MONROE, LA. — Atlanta-based Hotel Equities has been selected to manage the Fairfield Inn & Suites by Marriott under construction in West Monroe. The hotel is slated to break ground this summer and open in the third quarter of 2016. The hotel will be located near the University of Louisiana-Monroe and the Ike Hamilton Expo Center. The ownership group for the new hotel includes Jon Patel and Kevin Patel of Monroe, La., and Nimesh Zaver of Lake Charles, La. The group has 26 Louisiana hotels in its portfolio.

April 21, 2015

Louisiana Market Reports Retail Southeast Southeast Market Reports

High-Profile Mixed-Use Projects Help Attract Top-Notch Retailers to Baton Rouge

by John Nelson April 20, 2015

Attention retailers — Baton Rouge is the place to be. For the first time in the area’s history, the Baton Rouge MSA is expected to exceed 400,000 overall jobs in 2015 according to economists Loren Scott and James Richardson. The surge in employment is being fueled by numerous projects including $16 billion in industrial construction projects in the Baton Rouge MSA, along with $1 billion in public construction. Construction is underway downtown on a $55 million office tower and residential complex, which will be the home of the new IBM Technology Center where 800 highly skilled computer savvy individuals will be employed. Construction is also underway on a state-of-the-art water research facility in downtown Baton Rouge. The “Water Campus” situated on 30 acres next to the Mississippi River will initially consist of three buildings totaling $45 million in construction costs. This research park will provide an opportunity for academics and private-sector scientists and engineers to collaborate in producing the best available science on water management and coastal issues. For a state heavily weighted in the energy and petrochemical sectors, this will be a catalyst for economic diversification. Newsworthy Projects Juban Crossing: The most significant new mixed-use project to come on …

April 20, 2015

Ambassador Town Center Lafayette Louisiana

Louisiana Restaurant Retail Southeast

Stirling Properties, CBL & Associates Breaks Ground on 425,000 SF Shopping Center in Louisiana

by John Nelson April 17, 2015

LAFAYETTE, LA. — Stirling Properties and CBL & Associates Properties Inc. have begun construction on Ambassador Town Center, a 425,000-square-foot shopping center anchored by Costco Wholesale in Lafayette. Other committed tenants include Dick’s Sporting Goods, Field & Stream, Marshalls, HomeGoods, Nordstrom Rack, Off Broadway Shoes, Chuy’s, Panera Bread, Freddy’s Frozen Custard & Steakburgers, BJ’s Restaurant & Brewhouse, World of Beer and Blaze Pizza. The 58-acre site for the new shopping center is located at the corner of Ambassador Caffery Parkway and Kaliste Saloom Road. The developers plan to open the project in March 2016 and expect to create approximately 2,200 construction jobs, 1,000 permanent jobs and generate nearly $9 million annually in sales taxes for the city of Lafayette.

April 17, 2015

Louisiana Retail Southeast

Gulf States Redevelops, Leases Shopping Center in Louisiana in $6.2M Project

by John Nelson March 10, 2015

HAMMOND, LA. — Gulf States Real Estate Services has completed the $6.2 million redevelopment of the Channel Shopping Center located at 1710 W. Thomas St. in Hammond. The company expanded the center by 14,734 square feet to total 49,325 square feet. The final tenants to join the shopping center are OEC 2 Japanese Restaurant and Helm Paint. Terrie Hughes, Jason Reibert and Amanda Owens of Gulf States spearheaded the leasing and redevelopment efforts on behalf of Channel Shopping Center’s owner, Sam Magee.

March 10, 2015

Civic Louisiana Southeast

City of New Orleans to Auction 1,786 Adjudicated Properties Online

by John Nelson March 9, 2015

NEW ORLEANS — The city of New Orleans will sell 1,786 adjudicated properties across the city through a new online auction process. The sale will provide winning bidders with full ownership of each property and with guaranteed title insurance. A property is adjudicated to the city when its property taxes have not been paid — becoming delinquent — and the city is unable to sell the property at a tax sale. The city will only auction properties where five years have elapsed from the date of an attempted tax sale. The first online auctions are expected to take place this summer.

March 9, 2015

Louisiana Mixed-Use Retail Southeast

Factor’s Row in New Orleans Undergoes Redevelopment

by John Nelson March 3, 2015

NEW ORLEANS — Corporate Realty has begun marketing the redeveloped Factor’s Row, a retail development located at the corner of Perdido and Carondelet streets in New Orleans. The ground-floor retail space has 14- to 17-foot ceilings and large storefront windows. The redevelopment project of Factor’s Row, which was built in 1858, will feature 9,484 square feet of ground-floor retail space and 50 upper floor luxury apartments. The redevelopment will also include upgrades to the adjacent Thiberge Building.

March 3, 2015

Hospitality Louisiana Southeast

Homewood Suites by Hilton Opens Eighth Hotel in Louisiana

by John Nelson March 3, 2015

HOUMA, LA. — Homewood Suites by Hilton has opened its eighth hotel in Louisiana: Homewood Suites by Hilton Houma. The 105-suite hotel is developed and owned by Ashi Houma Hotels LLC. The property is located at 142 Citiplace Drive and features complimentary internet access, hot breakfast dining, fully equipped kitchens, complimentary grocery shopping service, a fitness center, basketball court and outdoor grill.

March 3, 2015

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