Real Estate Trends 2009 the Data Published in Real Estate Trends Is Compiled Contents Every Six Months by the Citybusiness Research Department

RE_trends09_COVERS 11/2/09 10:35 AM Page 991 RE_trends09_COVERS 11/2/09 10:35 AM Page 992 ELMWOOD OAKS As solid as the historic Oaks, this is your new location for your business.

Elmwood Oaks office park consist of four ground level office buildings in a picturesque location surrounded by historic oaks. Located on Evans Road, between Jefferson Highway and the river, this is an ideal location for any business looking for a great environment and close proxmity to Jefferson, Orleans and St.Charles Parish. ~~~~~~~~~~~~~~~~~~~~~ Elmwood Oaks 201 Evans Road Harahan, LA 70123 ~~~~~~~~~~~~~~~~~~~~~ For Appointments: Contact Penny Duet 504-330-8962 RE_trends2009 11/2/09 2:17 PM Page 1 RE_trends2009 11/2/09 11:17 AM Page 2

Real Estate Trends 2009 The data published in Real Estate Trends is compiled Contents every six months by the CityBusiness research department. Area coverage map Lists Published by the NOPG LLC Central Business Commercial leasing 111 Veterans Memorial Blvd., District ...... 4 ...... 11 companies ...... 34 Suite 1440, Metairie, La. 70005 504-834-9292; Fax: 504-837-2258. Center City ...... 12 ...... 14 Commercial property managers ...... 36 Publisher and president: D. Mark Singletary Eastern New Orleans Associate Publisher: Lisa Blossman and Chalmette ...... 15 ...... 17 Flex space ...... 38 Managing Editor: Greg LaRose News Editor: Christian Moises Kenner and Shopping centers ...... 40 Associate Editor: Autumn C. Giusti St. Charles Parish . . . . .18 ...... 20 Business parks ...... 45 Art Director: Alex Borges Market Researcher: Jennifer Nall Metairie and Warehouse space ...... 47 Account Executives: Liz Baldini, Monique Brignac, East Jefferson ...... 20 ...... 26 Jeanne Farrell, Cassie Foreman, Coco Evans Judd North Shore ...... 27 ...... 31 Production Manager: Julie Bernard West Bank ...... 31 ...... 32 On the cover: Bryan Burns III, senior vice president for Transwestern, stands in front of 400 Poydras Tower, which saw occupancy jump from 75 percent last year to 81 percent this year. Photo by Frank Aymami

2A New Orleans CityBusiness RE_trends2009 11/2/09 11:17 AM Page 3

COMMERCIAL INVESTMENT DIVISION OF THE NEW ORLEANS METROPOLITAN ASSOCIATION OF REALTORS® WISHES TO THANK ITS SPONSORS: SILVER SPONSORS BRONZE SPONSORS Bank of New Orleans Artigues Construction Co., Inc. Coldwell Banker Commercial Beth Cristina, LLC DIAMOND SPONSORS TEC REALTORS® Crescent Title, LLC Don Randon Real Estate Jack Stumpf & Associates, Inc. Criterium-Dormady Engineers Larry G. Schedler & Associates, Inc. Glen Johnston of Johnston Cross GOLD SPONSORS Louisiana REALTORS® Max J. Derbes, Inc. Merrill Lynch/Bryan McClendon First NBC Morgan Keegan & Company, Inc. & Edward Malone Stirling Properties, LLC Prudential Gardner, REALTORS® RE/MAX Commercial Brokers, Inc. Sher Garner Cahill Richter Klein & Hilbert, LLC Red Hot Properties Talbot Realty Group Sylvia Roy, CCIM THE STEEG LAW FIRM, LLC The Stevens Group, Inc.

THE CID ACHIEVEMENT AWARDS BANQUET RECOGNIZES ITS 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 RE_trends2009 11/2/09 11:17 AM Page 4

REAL ESTATE TRENDS 2009 Central Business District and Center City

By Tommy Santora tainment venue. Dominion Tower has [email protected] been empty since the storm except for the Contributing Writer Louisiana State University Health Science Center Ambulatory Care Clinic on the photo by Frank Aymami he impressive start to the New Orleans ground floor. TSaints’ season has boosted the morale The Benson family plans to spend about of the community. Now an offshoot of Tom $12.5 million preparing the office space for Benson’s franchise is trying to boost the the state, plus another $21.7 million repair- city’s real estate market. ing the storm-damaged property. In the largest commercial real estate “Being a tenant in these buildings is an transaction since Hurricane Katrina, the opportunity for these companies to offer Benson family, through their company their employees a high quality of life through Zelia LLC, bought the 26-story Dominion their working experience,” said Saints Tower office building, the 400,000- Executive Vice President Rita Benson square-foot New Orleans Centre mall and a LeBlanc. “Based upon the demand we are 2,000-space parking garage from California experiencing, we are very confident that the real estate firm Hertz Investment Group for building will be fully leased before it opens $42.1 million. The office building is now following construction.” known as the Benson Tower. The Bensons could not have picked a As part of a long-term lease agreement better time to enter the downtown office to keep the Saints in New Orleans, the space market, as office occupancy rates in state has agreed to occupy more than half the Central Business District are at an all- of the office space in Benson Tower with time high, according to a third-quarter Bryan Burns III, senior vice president for Transwestern, 800 to 900 workers by July. Benson has report by Metairie-based Equity Office says commercial real estate in the Central Business District pledged $10.5 million to convert New Properties and leasing director Bruce is in a period of equilibrium between supply and demand. Orleans Centre into a sports and enter- Sossaman. TakeTake youryour businessbusiness REAL ESTATE lose p toto newnew The CityBusiness Real Estate CloseUp is 1340 Poydras sent to our subscribers every Friday. heights..heights.... Be the first to learn about the latest real estate news and information from the New Garage/ greater New Orleans region. Ground Floor Advertise on the Real Estate CloseUp– Retail Space we can help link you to your customers. Only three advertising positions are available on the Real Estate CloseUp. 1010 Common Secure your spot now! Realty 1, LLC For advertising information contact For Leasing Information LISA BLOSSMAN or a Property Tour 504-293-9226 • [email protected] Please Call Sandra Corrigan at (504) 566-1400

4A New Orleans CityBusiness RE_trends2009 11/2/09 11:17 AM Page 5

The market stats are very strong, we“ are at a nice equilibrium of supply and demand, and the A Premier Location market is holding steady.” is Just the Beginning Bryan Burns III Transwestern senior vice president

About 92 percent of premium commercial office space, or Class A, was listed as occupied at the end of the third quarter, up Energy Centre from 90 percent the same time a year ago, New Orleans, Louisiana while 87 percent of Class B office space is occupied, up from the 86 percent in the second quarter of 2009. Average downtown rents are holding This premier address in the steady at $18 per square foot for Class A, while Class B rents average $14.50 per heart of New Orleans’ CBD is square foot. Bryan Burns III, senior vice president an ideal location for business. for Transwestern, a private national commercial real estate company, said his company’s three Class A office buildings in Energy Centre features a downtown New Orleans have all seen state-of-the-art design with increased occupancy with 400 Poydras Tower jumping from 75 percent last year a superior technological to 81 percent this year; 650 Poydras St. increasing from 75 percent to 85 percent; operating system, and is in and 909 Poydras going from 85 percent to 97 percent. walking distance to the city’s The U.S. Government General Services Administration recently signed a lease to most sought after destinations. move from the federal building at 500 Poydras St. to 650 Poydras St. and occupy 65,000 square feet. Burns said they are still working on a timeframe, but it should take place in 2010. “The market stats are very strong, we are at a nice equilibrium of supply and demand, and the market is holding steady,” Burns said. “There are a lot of Discover good things happening downtown, and the Benson Tower transaction will help Energy Centre. with real positive development for the area around the Superdome.” But there are still several unoccupied Call Meg Carrone office buildings that haven’t reopened, including Chevron’s former headquarters at Corporate Realty, at 935 Gravier St. 504.569.2052 “You would need $25 to $30 per square foot of rent to make construction of a new building worthwhile, and we’re not seeing that kind of market come online,” Sossaman said. “Chevron was built as a single-tenant building, and you really need an owner/user type situation © 2009 Behringer Harvard like we almost had with City Hall to war- rant renovation or construction.”•

Real Estate Trends Fall 2009 5A RE_trends2009 11/2/09 2:10 PM Page 6

Central Business District (ranked by total leaseable square feet)

Largest Total Quoted block of Leasing agent leaseable rent space Leasing 2009 Building name square Percent rate Common Year built/ available company Rank Address feet occupied high space renovated Floors (sq. feet) Availability Phone One Shell Square 1,256,991 96 $17 17 1972/1998/ 51 24,000 December Russell 1 701 Poydras St. percent percent 2008 Marchand CB Richard Ellis New Orleans 323-7000 Place St. Charles 1,004,484 99 $20 15 1985/ 52 25,000 1/1/10 Bennett K. 2 201 St. Charles percent percent ongoing Davis Ave. Corporate Realty Inc. New Orleans 582-1416

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 Central Business District, Place St. Charles offers all the conveniences of the area while being just a short walk to the French Quarter.

Energy Centre 761,500 90 $17.50 NA 1984/2008 39 30,000 June 1 Meg Carrone 3 1100 Poydras St. percent Corporate Realty New Orleans 569-2052

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.

Pan-American 671,883 86 $18 15 1980/2007 28 36,595 91,846 Greg S. Riera 4 Life Center percent percent Jones Lang 601 Poydras St. LaSalle Americas Inc. New Orleans 585-2678 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, New Orleans CityBusiness Newspaper, 111 Veterans Blvd., Suite 1440, Metairie, LA 70005.

6A New Orleans CityBusiness RE_trends2009 11/2/09 2:10 PM Page 7

Central Business District (ranked by total leaseable square feet)

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

400 Poydras 619,714 78 $17 NA 1983 33 50,000 120,000 Cres Gardner 6 Tower percent Kyle 400 Poydras St. Stephenson Bryan Burns Kyle Stevenson Cres Gardner Transwestern New Orleans 799-3124 First Bank & 545,157 83 $18 NA 1987 36 17,048 90,000 Bryan Burns 7 Trust Tower percent Cres Gardner 909 Poydras St. Kyle Stephenson Kyle Stevenson Cres Gardner Transwestern New Orleans 799-3124 1515 Poydras 529,474 75 $17.50 15 1983/2008 27 22,679 130,226 Greg S. Riera 8 Building percent percent Jones Lang 1515 Poydras St. LaSalle Americas Inc. New Orleans 585-2678

1515 Poydras is a 27 story Class A office tower featuring a dramatic main lobby and covered 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

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, New Orleans CityBusiness Newspaper, 111 Veterans Blvd., Suite 1440, Metairie, LA 70005.

Real Estate Trends Fall 2009 7A RE_trends2009 11/2/09 2:10 PM Page 8

Central Business District (ranked by total leaseable square feet)

Largest Leasing Total Quoted block of agent leaseable rent space Leasing 2009 Building name square Percent rate Common Year built/ available company Rank Address feet occupied high space renovated Floors (sq. feet) Availability Phone 1010 Common 512,593 80 $13.75 15 1971/2000 31 45,000 102,518 Sandra 9 Building percent percent Corrigan 1010 Common Regis Realty I St. LLC New Orleans 566-1400 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. Entergy Corp. 511,600 96 $19 15 1983/2007 28 8,004 immediate Bill Moody 10 Building percent percent Poydras 639 Loyola Ave. Properties LLC New Orleans 522-2535 Freeport- 507,620 93 $17 15 1984/NA 23 22,500 immediate Bruce 11 McMoRan percent percent Sossaman Building 450-5074 1615 Poydras St. 1615 Poydras • Freeport-McMoRan Building A distinctive curved design of green marble and reflective glass forms the 23 story 1615 Poydras Building. Located directly across from the Superdome, 1615 Poydras offers the easiest 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 its large parking garage. 1615 Poydras features an on-site restaurant, barbershop and dry cleaning delivery. As the only locally owned and operated Class A building in the CBD, the building’s experienced management team makes tenant satisfaction its highest priority and provides 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 467,671 99 $17.50 15 1982/2008 22 3,272 4,991 Greg S. Riera 12 Building percent percent Jones Lang 1555 Poydras St. LaSalle Americas Inc. New Orleans 585-2678

1555 Poydras is a 22 story Class A office tower featuring striking silver sawtooth bay windows 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

Poydras Center 453,255 97 $18.50 NA 1983 28 5,000 15,000 Bryan Burns 13 650 Poydras St. percent Cres Gardner Kyle Stevenson Transwestern New Orleans 799-3124

8A New Orleans CityBusiness RE_trends2009 11/2/09 2:10 PM Page 9

Central Business District (ranked by total leaseable square feet)

Whitney National 351,782 96 $14.50 15 1910/1996 14 2,500 immediate Duff Friend 17 Bank Building percent percent Latter & Blum 228 St. Charles New Orleans Ave. NA 701 Loyola Ave. 286,560 42 $13.50 NA 1953 14 23,612 immediate David R. 18 701 Loyola Ave. percent Wright Coldwell Banker Commercial TEC Realtors New Orleans 566-1777 URS Building 115,000 97 $13.50 NA 1926/2005 10 3,146 immediate Bobby Talbot 19 600 Carondelet percent Talbot Realty St. Group New Orleans NA 525 St. Charles 100,000 88 $16.52 0 percent 1966 4 12,000 immediate Andrea Arons 20 525 St. Charles percent Huseman Ave. Corporate Realty Inc. New Orleans 587-1450 The IP Building 84,585 55 $16.50 NA 1900/2004 4 20,310 NA Bobby Talbot 21 643 Magazine St. percent Talbot Realty Group New Orleans NA K&B Plaza 70,000 95 $19 NA 1962 7 3,000 immediate Bennett K. 22 1055 St. Charles percent Davis Ave. NA 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, New Orleans CityBusiness Newspaper, 111 Veterans Blvd., Suite 1440, Metairie, LA 70005.

Real Estate Trends Fall 2009 9A RE_trends2009 11/2/09 11:17 AM Page 10

Central Business District (ranked by total leaseable square feet)

Largest Leasing Total Quoted block of agent leaseable rent space Leasing 2009 Building name square Percent rate Common Year built/ available company Rank Address feet occupied high space renovated Floors (sq. feet) Availability Phone 546 Carondelet 51,081 100 $17 NA 1910/1990 6 0 NA Frederick J. 23 Building percent Tufts 546 Carondelet Crutcher-Tufts St. Corporation Metairie 887-9327

Plaza Building 44,721 0 percent $15 NA 1958/1984 3 44,721 44,721 Michael J. 24 230 Loyola Ave. Siegel NA

Emeril's 43,403 100 $15 NA 1910/1996 2 0 0 Bobby Talbot 25 Homebase percent Talbot Realty 839 St. Charles Group Ave. New Orleans NA

Gravier Place 35,074 0 percent $18 12 1925/1995 3 12,000 immediate Denise Gaines 26 837 Gravier St. percent Praveen Kailas Tower Realty New Orleans 828-9700

400 Magazine St. 33,000 81 $12 0 percent 1840/1983 4 4,832 immediate Robert C. 27 400-408 percent Hassinger Magazine St. Hassinger Realty LLC New Orleans NA

Lee Circle Plaza 27,259 93 $14.60 NA 1917/1998 4 1,305 immediate Rick Skelding 28 818 Howard Ave. percent Stirling Properties Inc. New Orleans NA

Fulton Place 26,500 75 $23 3,500 1985/1990 8 NA NA Maurice 29 901 Convention percent percent Kansas Center Blvd. Cambridge Realty West LLC New Orleans 522-0548 615 Baronne St. 25,288 100 $13.50 NA 1935/2001 3 NA NA Rick Skelding 30 Building percent Stirling 615 Baronne St. Properties Inc. New Orleans NA

300 Lafayette 20,000 100 $16 15 1910 / 1984 2 0 NA Andrea 31 Building percent percent Huseman 300 Lafayette St. Corporate Realty New Orleans 587-1450

The Security 13,897 40 $9.50 14 1923/2008 6 6,800 immediate Bob Sykes 32 Center percent percent Security 147 Carondelet Center St. New Orleans 587-2092

REAL ESTATE TRENDS 2009 Central Business District

INTERSTATE 10

S. Claiborne N. Claiborne

Clara S. Robertson N. Robertson

MAP Magnolia

11 Tulane S. Villere N. Villere

S. Robertson CANAL 12

SUPERDOME Freret LaSalle Marais Gravier 8 LaSalle

Treme Iberville Cleveland

S. Saratoga Crozat Perdido

16 ELK PLACE BASIN S. Liberty 14 24

POYDRAS N. Rampart

Julia LOYOLA Gravier 9

University Pl. Girod 18 Burgundy

10 3 Union S. Rampart

Julia 15 O’Keefe Baronne Dauphine LOYOLA 7 Penn 26 32 S. Rampart Baronne CANAL Bourbon Carroll

O’Keefe 30 Girod

Carondelet 2 Common Royal Julia

Baronne Lafayette 23 Exchange Alley 1 17 19 Chartres Baronne Howard PONTCHARTRAIN EXPRESSWAY Carondelet 20 4

St. Charles Decatur Julia 13

Carondelet Picayune Pl. Natchez

25 Magazine Joseph

28 Camp POYDRAS 27 St. Charles Church 6 Cir e c

22 l e e L St. Charles 21 CANAL T choupitoulas 5

Camp Constance

Magazine Notre Dame Notre

Julia 31

Howard

Joseph Poeyfarre South Peters Ferry Tchoupitoulas

Commerce Fulton

Convention Center Boulevard

29 Mississippi River Riverwalk

Real Estate Trends Fall 2009 11A RE_trends2009 11/2/09 11:17 AM Page 12

Center City (ranked by total leasable space)

Largest Total Quoted block of Leasing agent leaseable rent space Leasing 2009 Building name square Percent rate Common Year built/ available company Rank Address feet occupied high space renovated Floors (sq. feet) Availability Phone 1215 Prytania 119,269 95 $16 NA 1952 5 2,500 now P.W. Larsen 1 Building percent 593-5343 1215 Prytania St.

Buckman 79,405 80 $23 NA 1991 / 4 5,000 NA Administration . 2 Medical Office percent ongoing NA Building 3434 Prytania Ave. Advanced 78,500 80 $19 12 2001 5 6,057 15,339 Sandi Stone 3 Technology percent percent University of New Center Orleans Research 2021 Lakeshore and Technology Drive Foundation, Inc. New Orleans NA Mid-City Center 48,000 100 $18 12 1925/2006 2 0 0 Ernest Verges 4 320 N. Carrollton percent percent NA Ave.

Smith Lupo 40,000 95 $20 14 1971/2006 5 1,029 NA R. Tom Lupo 5 Center percent percent NA 145 Robert E. Lee Blvd.

1820 St. 36,000 100 $15.50 NA 1924/2004 2 0 none Bobby Talbot 6 Charles percent Talbot Realty 1820 St. Charles Group Ave. New Orleans NA The 35,000 100 $18 NA 1875/1986 2 NA NA Arnold Cooper 7 Marketplace at percent DBIC Property Jackson Management Brewery NA 400 North Peters St. Norman Mayer 34,594 100 $12.50 NA 1957/2006 4 NA NA Valerie Howell 8 Memorial percent United Way Building New Orleans 2515 Canal St. NA

101 Robert E. 33,830 86 $16 15 1982/2008 4 4,880 immediate David Wright 9 Lee percent percent Coldwell Banker 101 W. Robert Commercial TEC E. Lee Blvd. Realtors New Orleans NA Uptown Square 32,825 60 $16 NA 1979 3 3,817 13,419 Bert Duvic 10 170 Broadway percent Joe Gorman St. Max J. Derbes Inc. New Orleans 733-4555 Lakefront 30,606 94 $16 NA 1973/2006 4 721 immediate Warren A. Abadie 11 Professional percent Abadie Properties Office Building Inc. 6305-6307 Kenner Elysian Fields 456-2011 Ave. 4640 Building 26,313 86 $16.50 12 1924/1982 2 2,912 immediate Andrea Arons 12 4640 S. percent percent Huseman Carrollton Ave. Corporate Realty Inc. New Orleans 587-1450 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, New Orleans CityBusiness Newspaper, 111 Veterans Blvd., Suite 1440, Metairie, LA 70005.

12A New Orleans CityBusiness RE_trends2009 11/2/09 11:17 AM Page 13

Center City (ranked by total leasable space)

Largest Total Quoted block of Leasing agent leaseable rent space Leasing 2009 Building name square Percent rate Common Year built/ available company Rank Address feet occupied high space renovated Floors (sq. feet) Availability Phone 6221 S. 24,000 95 $28 NA 1964/2006 3 1,100 one retail Lou Good 13 Claiborne Ave. percent space NA Building available 6221 S. Claiborne Ave. Bienville Place 21,000 80 $15 10 1940/2006 1 2,000 immediate Ernest Verges 14 3909 Bienville percent percent NA St.

The Office 19,940 90 $24 10 1948/2000 3 1,388 immediate Edward Halpern 15 Suites at 1050 percent percent The Office Suites 1050 S. at 1050 Jefferson Davis New Orleans Parkway 304-3300 506 N. St. 628 50 $11.46 0 percent 2009 1 628 immediate Skip Weber 16 Patrick percent NAI/Latter & Blum 506 N. St. Inc. Realtors Patrick St. New Orleans 887-3929 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, New Orleans CityBusiness Newspaper, 111 Veterans Blvd., Suite 1440, Metairie, LA 70005.

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Real Estate Trends Fall 2009 13A RE_trends2009 11/2/09 11:17 AM Page 14

REAL ESTATE TRENDS 2009 Center City

2 LAKE PONTCHARTRAIN

Lakeshore

Leon Simon 11

Elysian Fields

MAP 10 5 Robert E. Lee West End West

Filmore

Orleans Parish Jefferson Parish

Harrison

Lake Pontchartrain Blvd. Pontchartrain

I-10 I-610 Gentilly

Wisner Pontchartrain Expressway Marconi

Canal Blvd. City Park Esplanade St. Bernard

Jefferson Parish

Orleans Parish Canal 16 14 Orleans 4 12 Broad

Tulane Jeff Davis I-10 Earhart 8 Washington

Rampart Claiborne 15

Basin

Royal

Fountainebleau Earhart 7 Oak Poydras Carrollton

Toledano 13 Loyola

Claiborne Decatur Broadway Martin Luther King Claiborne

1 CCC

Jackson GNO Bridge 6 Freret

Louisiana

Jefferson

Magazine Napoleon 10 St. Charles 2

14A New Orleans CityBusiness RE_trends2009 11/2/09 11:17 AM Page 15

REAL ESTATE TRENDS 2009 Eastern New Orleans and Chalmette photo by Frank Aymami

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

By Tommy Santora Orleans office space market, said Ivan ants,” Verges said. [email protected] Miestchovich, director of the University The medical community also might Contributing Writer of New Orleans Institute for Economic boost the office market. The Orleans Development and Real Estate Research. Parish Hospital Service District recently t’s not the rainbow Wade Verges was UNO completed its latest analysis on agreed to buy the former Methodist Iexpecting for the eastern New Orleans the eastern New Orleans market in the fall Hospital and other health care centers in commercial office space market four years of 2008, with seven buildings reporting an eastern New Orleans from Universal after Hurricane Katrina, but it’s a glimmer occupancy rate of 83.8 percent with Health Services. Mayor Ray Nagin also of hope. 110,812 square feet occupied. Before verbally agreed to build a $1.1 million, At the end of October, two of Verges’ Katrina, nine buildings reported to UNO 5,000-square-foot outpatient clinic on buildings — the Bullard Corporate Center with tenants using 500,000 square feet for Chef Menteur Highway. at 5555 Bullard Ave. and the 5630 an 88.8 percent occupancy rate. Keith Adler, leasing agent for Crowder Blvd. Building — were fully Miestchovich said office buildings Corporate Realty, which leases retail occupied at 100 percent. didn’t come back online in eastern New space at the still-vacant Schwegmann “It’s a good sign and it’s a start, but I Orleans until about a year after Katrina. Plaza East at 6003 Bullard Ave., said thought we would have hit that point a lot “The area has a long way to go and the key factors for retail and office space sooner in the market,” said Verges, presi- retail is driven by rooftops,” Miestchovich resurgence in eastern New Orleans are dent of W.T. Verges Development. said. “The kind of workers that are need- repopulation and the government’s abil- “Perception is everything, and we have ed to bring the office market back are legal ity to improve flood protection and had to overcome that,” he said. “From the professionals, insurance agents, medical rebuild people's confidence in that pro- interstate, people see dilapidated com- professionals and any service-based tection. plexes and run-down apartments and fig- employment.” “In the retail market, we have mom ure nothing is back. Few people get off the Verges had the Bullard Corporate and pops coming online here, and that has interstate, though, and look at the neigh- Center renovated, and the building been steady,” Adler said. “Their locations borhoods returning. There are signs of received a boost in 2007 when DaVita are mirroring where the people have progress out here.” Fleur De Lis Dialysis signed a lease to returned. But national chains, which With some office buildings still not occupy 10,000 square feet, or about 25 anchored some of the retail before the online and others just using certain percent of the building. storm, are not in a big hurry to get back floors for occupancy, it is a challenge to “I have found that the success rate is out here because of lack of repopulation. obtain statistics on the eastern New much better and longer with service ten- We need that to change.”•

Real Estate Trends Fall 2009 15A RE_trends2009 11/2/09 2:13 PM Page 16

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

Largest Total Quoted block of Building leaseable rent space Leasing agent 2009 name square Percent rate Common Year built/ available Leasing company Rank Address feet occupied high space renovated Floors (sq. feet) Availability Phone Schwegmann 115,000 0 percent $16 NA NA NA 22,050 yes Keith Adler 1 Plaza East Corporate Realty 6003 Bullard Inc. Ave. New Orleans 581-5005

Executive 114,670 40 $12 14 1975/2009 11 10,500 Jan. 1 Brandy Frisby 2 Plaza percent percent Kailas Management 10001 Lake Metairie Forest Blvd. 837-8644

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.

Lake Oaks 60,000 94 $20 NA 1988 NA 2,200 yes Keith Adler 3 Plaza percent Corporate Realty 6600 Franklin Inc. Ave. New Orleans NA

Bullard 40,000 80 NA NA renovated 1 NA immediate Wade T. Verges 4 Corporate percent 2006 5555 Bullard LLC Center New Orleans 5555 Bullard 246-1562 Ave.

6800 Plaza 40,000 NA NA NA 1984/2003; 2 NA 2010 Wade T. Verges 5 Drive under Grace Tama 6800 Plaza renovation Development Co. Drive LLC New Orleans 246-1562

16A New Orleans CityBusiness RE_trends2009 11/2/09 11:17 AM Page 17

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

Largest Total Quoted block of Building leaseable rent space Leasing agent 2009 name square Percent rate Common Year built/ available Leasing company Rank Address feet occupied high space renovated Floors (sq. feet) Availability Phone Wink 32,500 7 percent $14.50 0 percent 1986/2005 1 32,500 immediate Duff Friend 6 Business Latter & Blum Park New Orleans 4949 Bullard NA Ave. Lake Willow 24,000 NA NA NA 1980/under NA NA 2010 Wade T. Verges 7 Building renovation Verges Properties 7240 Crowder New Orleans Blvd. 246-1562 Willow Tree 12,000 40 NA NA 1985/2008 1 NA immediate Wade T. Verges 8 7701 Dwyer percent Verges Properties Road New Orleans 246-1562 5630 Crowder 11,500 NA NA NA 1980/2000 2 NA immediate Wade T. Verges 9 Blvd. Building 5630 Crowder LLC 5630 Crowder New Orleans Blvd. 246-1562 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, New Orleans CityBusiness Newspaper, 111 Veterans Blvd., Suite 1440, Metairie, LA 70005.

REAL ESTATE TRENDS 2009 Eastern New Orleans and Chalmette

Discovery Blvd.

Morrison Bullard Lake Pontchartrain I-10 Wright New Orleans Read Lakefront Airport Bundy Crowder 1 Lake Forest Blvd. Dwyer

MAP Mayo 4 Chef Menteur Hayne Blvd. Michoud Downman 7 5 1 Lakeshore 2 France Morrison 6 . 3 8 9 Dwyer

Old Gentilly Hwy Intracoastal Drive

Chef Menteur

Almonaster Mississipi River Gulf Outlet

Intracoastal Waterway I-10 I-610 Orleans Parish Paris Rd. St Bernard Parish

Florida

N. Claiborne Chalmette

Poland St. W. Center Claud Lafitte Jud n

Real Estate Trends Fall 2009 17A RE_trends2009 11/2/09 11:17 AM Page 18

REAL ESTATE TRENDS 2009 Kenner and St. Charles Parish

By Robin Shannon [email protected] Contributing Writer photo by Frank Aymami ommercial real estate agents in St. CCharles Parish say they deal with a market that fluctuates on a month-to- month basis. “The market becomes busy from summer through fall when we get expansions and relocations, but it drops off after September and October,” said Daniel Poulin, senior regional manager for Sealy and Co. “It’s a quirk that the market has always experienced, and it’s hard to really explain.” Poulin, whose firm manages 18 of the 49 buildings in the James Business Park in St. Rose, said occupancy in most of the commercial properties is between 81 percent and 96 percent. “There are very few spaces left for lease, but rents don’t constitute a need for any new construction,” Poulin said. “We delivered our last building in James Business Park last year, but construction costs are much higher now.” Aside from a handful of strip malls going up in the Boutte area, the market is not seeing much new construction. “We are seeing some user construction 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 said the market experiences some fluctuation, but agents in most cases are not finding many people looking for openings. “Occupancy has dropped in the last six months, but we are not losing clients and Daniel Poulin, senior regional manager for Sealy and Co., says there are few spaces left at James Business Park in St. tenants to other markets,” Wallace said. Rose, but the area hasn’t reached a need for new construction. “Tenants are doing things differently, whether it be downsizing or shutting down new tenants, but they have yet to offer Derbes, Graham Shuffield and Tatje, completely. But they aren’t just leaving much in the way of incentives to get peo- said that although landlords are always Kenner and going elsewhere. Companies ple into spaces. looking for tenants, there isn’t really are hanging on to what they have.” “We haven’t started offering free or much space available in the market. Wallace said landlords are looking for reduced rents like other parts of the “There is nothing available if you are area,” Wallace said. “We take it case by looking for more than 30,000 square case. We figure out what the tenant needs feet,” Schwartz said. “There is very little We thought we were and determine how we can accommodate Class A property in Kenner and most of recession-proof“ for a while, them best. that is full. The Class B property is but now we are slowly feeling “We thought we were recession-proof mostly owner occupied.” some of the effects of the for a while, but now we are slowly feeling Schwartz said anyone considering national economy.” some of the effects of the national econo- new construction in the area would my. There’s no way to tell how much we need to have a tenant ready to move in Susan Wallace will be affected, but we may not get hit as immediately. Preferred Realty bad as other parts of the country have.” “It is build-to-suit-needs right now,” Art Schwartz, a broker with Argote, Schwartz said.•

18A New Orleans CityBusiness RE_trends2009 11/2/09 11:17 AM Page 19

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

Largest Total block of Leasing agent leaseable Quoted space Leasing 2009 Building name square Percent rent rate Common Year built/ available company Rank Address feet occupied high space renovated Floors (sq. feet) Availability Phone 2400 Veterans 133,195 76 $19 16 1982 5 33,000 available Greer Roberts 1 Building percent percent now NA 2400 Veterans Memorial Blvd.

Two James 53,520 78 $17.50 NA 1981 3 4,149 immediate Jennifer A. Lee 2 Park percent Sealy and Co. 120 Mallard St. St. Rose 463-5600

2200 Veterans 44,874 89 $15.50 13 1983/2006 2 2,662 5,357 Susan Wallace 3 Blvd. Building percent percent Cassie Goldsboro 2200 Veterans Preferred Realty Memorial Blvd. Inc. Metairie 455-8644 One James 43,055 78 $17.50 NA 1980 3 3,228 immediate Jennifer A. Lee 4 Park percent Sealy and Co. 100 James St. Rose Drive 463-5600

160 James 25,772 100 $16.50 NA 1981 1 0 none Jennifer A. Lee 5 Drive East percent Sealy and Co. 160 James St. Rose Drive East 463-5600

Five James 24,018 77 $17.50 NA 1983 2 2,780 immediate Jennifer A. Lee 6 Park percent Sealy and Co. 110 James St. Rose Drive West 463-5600

3715 Williams 19,000 50 $19.50 NA 1981/2008 2 2,000 now Patrick T. 7 Blvd. Building percent Bossetta 3715 Williams Standard Blvd. Properties LLC Metairie 247-2128 First American 11,133 94 $15.50 10 1981/1999 2 696 available Charles M. Mullin 8 Bank & Office percent percent now The Mullin Co. Building Inc. 11 James Blvd. St. Rose 465-9345

Crouch 5,250 57 $16 0 percent 2000 1 2,250 available Charles M. Mullin 9 Building percent now The Mullin Co. 231 West Inc. Esplanade Ave. St. Rose 465-9345

14446 River 3,000 0 percent $12 0 percent 1899/2006 1 3,000 available Charles M. Mullin 10 Road now The Mullin Co. 14446 River Inc. Road St. Rose 465-9345

11438 River 1,650 0 percent $25 0 percent 1990/2008 1 1,650 available Charles M. Mullin 11 Road now The Mullin Co. 11438 River Inc. Road St. Rose 465-9345

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, New Orleans CityBusiness Newspaper, 111 Veterans Blvd., Suite 1440, Metairie, LA 70005.

Real Estate Trends Fall 2009 19A RE_trends2009 11/2/09 11:17 AM Page 20

REAL ESTATE TRENDS 2009 Kenner and St. Charles

9 7

W. Esplanade Loyola

MAP Jefferson Parish

St. Charles Parish I-10 Chateau Blvd.

Veterans Blvd. 1 3

James Business Park 6 New Orleans 5 2 International Airport Williams Blvd. 4 W. Metairie Blvd. 8 Kansas City Railroad

Illinois Central RR

U.S. 61 U.S. 61 (Airline) River Road Jefferson Hwy. 10 11 Mississippi River

REAL ESTATE TRENDS 2009 Metairie and East Jefferson

By Robin Shannon [email protected] Contributing Writer

espite a foundering national econo- photo by Frank Aymami Dmy, real estate agents managing commercial properties in East Jefferson and Metairie say it is still one of the strongest markets in the New Orleans region. But signs of slight weakening have become evident in the past year. Although many premium Class A office buildings in the area have occupancy rates higher than 90 percent, a handful of Class B buildings are seeing a bit of a drop in tenants. Bruce Sossaman, leasing director for Equity Office Properties, said recent Class Ben Frank, a financial consultant with Compass Capital Management, left, talks with Corporate Realty sales and B figures for the area show occupancy rates leasing agent Jeff Cohn about Compass Capital’s recent move into the 3445 N. Causeway Blvd. building. near 89 percent, down from 91 percent at the beginning of the year. He said although Corporate Realty representative Jeff is being offered as an enticement to get the number is still fairly strong, landlords Cohn said some landlords are even offer- people into a space. It is definitely a ten- are struggling to get tenants into buildings. ing concessions, such as reduced rent and ant’s market right now.” “Businesses are having a hard time get- the possibility of one or two months of Cohn said the market is no longer see- ting loans and mortgage companies are free rent, to get tenants into buildings. ing the boom it enjoyed in the months closing,” Sossaman said. “Everyone is “Two years ago, no one in Metairie after Hurricane Katrina, when contractors doing either a one- or two-year deal now.” had to offer free rent,” Cohn said. “Now it were moving into the area at a rapid rate.

20A New Orleans CityBusiness RE_trends2009 11/2/09 11:17 AM Page 21

He said bigger companies are downsizing OFFICE SPACE FOR LEASE and smaller companies are pulling out or Jefferson Business Center, LLC going out of business. 5401 Jefferson Highway “There are even some patches of retail New Orleans, LA 70123 space available,” Cohn said. “Lakeside Mall has room to rent. I’ve never seen that. Jeanne Booth of SRSA Commercial Real Estate said tenants and landlords are staring to approach the market in a more conservative manner to see where they can save. “Landlords are looking for strong cred- itworthiness and longer leases, and tenants are also checking into the track record of the landlord,” Booth said. This 100,000 sq ft single-story building, presently houses two major corporate Booth and Sossaman say the market is operations centers. Jefferson Business Center currently has available approximately allowing tenants more flexibility to find 40,000 sq ft of office space with 140 parking spaces. what they want, where they want to be. · on-site management and maintenance team “Renters can shop around a bit,” · 24 hour security Sossaman said. “They are able to find a · sprinkler systems and chemical fire suppression space that suits their needs and suits their The building also features budget. I don’t think anyone is choosing · (2) 750 KW Generators with 100% Redundant Power one class over another.” · HVAC and Humidity Controls for IT needs Sossaman said rental rates, which peak · Raised floor with under floor wiring for ease of renovations at about $24 per square foot in Class A, are · Hurricane evacuation security shuttering system still not high enough to allow for any new construction in the market. He said rates For more Information Contact: would have to jump higher than $30 per J square foot before any talk of new con- Linda McGhee, Lease Coordinator: 504-957-2543 B struction begins. • Joyce Riedl, Property Manager: 504-390-7412 C Robert S. Maloney, Jr.: 504-460-7499

Select Properties, Ltd.

New Orleans Metro Area Properties Office Buildings 3421 Office Tower 3421 N. Causeway Blvd., Met. Medical Plaza I & II 3901 Houma Blvd., Met. Riverside I & II 6660 and 6620 Riverside Dr., Met. Residential River Vieux Terrace Condominiums 520 St. Philip St., New Orleans Retail The K-Mart Shopping Center Riverside Office Buildings I and II Causeway Highrise 2840-2940 Veterans Memorial Blvd., Met. 6660 and 6620 Riverside Dr., Metairie 3421 N. Causeway Blvd., Metairie Borders Retail Center Select Properties can fulfill your office space needs at one of our conveniently located, well- 3131 Veterans Blvd., Met. maintained five office buildings in Metairie. Please allow our staff of qualified professionals (with CPM and CCIM credentials) to assist you in maximizing your office potential. Specializing in commercial real estate since 1982, Select Properties is an IREM Accredited Management Organization with offices in Metairie, Baton Rouge, and Lafayette. Call us today for leasing, sales, brokerage, asset management, construction and consulting.

SELECT PROPERTIES, LTD. • 833-0044 6620 Riverside Drive • Suite 300 • Metairie, LA 70003 - 7109 ACCREDITED CERTIFIED PROPERTY MANAGEMENT MANAGER® ® For Professional Asset Management, Leasing & Sales ORGANIZATION Also Offices and Properties in Baton Rouge & Lafayette Individual Members

Real Estate Trends Fall 2009 21A RE_trends2009 11/2/09 2:13 PM Page 22

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

Largest Total Quoted block of leaseable rent space Leasing agent 2009 Building name square Percent rate Common Year built/ available (sq. Leasing company Rank Address feet occupied high space renovated Floors feet) Availability Phone Three Lakeway 471,745 94 $23 NA 1987/1996 34 9,663 immediate Bruce Sossaman 1 Center percent Equity Office 3838 N. Properties Causeway Blvd. Metairie 219-5842 Galleria 465,985 93 $23 15 1986/2008 22 8,791 31,337 Jeff Cohn 2 One Galleria Blvd. percent percent Corporate Realty Inc. New Orleans 581-5005 Two Lakeway 449,339 91 $23 NA 1984/1996 19 13,307 immediate Bruce Sossaman 3 Center percent Equity Office 3850 N. Properties Causeway Blvd. Metairie 219-5858 Heritage Plaza 353,003 83 $21.50 15 1983/2007 18 12,365 59,325 Gaines Seaman 4 111 Veterans percent percent Stirling Properties Blvd. Metairie 834-1111 One Lakeway 300,816 90 $23 NA 1981/1996 14 25,000 immediate Bruce Sossaman 5 3900 N. percent Equity Office Causeway Blvd. Properties Metairie 219-5842 Executive Tower 184,147 89 $16 12 1972/ 14 4,300 immediate Juli W. Maillet 6 3500 N. percent percent ongoing Security National Causeway Blvd. Properties Baton Rouge NA 110 Veterans 129,000 94 $18.50 16 1972/2005 5 6,464 available Greer Roberts 7 Building percent percent now NA 110 Veterans Memorial Blvd. Regions Bank 128,000 90 $16 15 1970/ 10 6,200 immediate Praveen Kailas 8 Building percent percent currently Denise Gaines 3525 N. Tower Realty Causeway Blvd. Metairie 828-9700 CORNER of Causeway Blvd. & West Esplanade Ave. One (1) Minute from Causeway Bridge at N. Causeway and West Esplanade Regions Bank Building, 3525 N. Causeway Boulevard is a ten (10) story high Class B office tower situated at the best Metairie CBD location offering sweeping lake views. Flexible floor plans; newly renovated common areas, elevators and lobby; more than ample parking, covered and 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) 828-9700 www.3525Causeway.com 3445 N. 127,859 81 $18 15 1969/2008 10 6,537 24,031 Jeff Cohn 9 Causeway Blvd. percent percent Corporate Realty 3445 N. Inc. Causeway Blvd. New Orleans 581-5005 3421 N. 125,150 84 $18.50 14 1973/2006 10 6,333 immediate Ronnie R. Rauber 10 Causeway percent percent Select Properties Highrise Ltd. Realty 3421 N. Metairie Causeway Blvd. 833-4494 3501 N. 112,741 81 $18 15 1973/ 10 10,500 immediate Jeanne Booth 11 Causeway percent percent ongoing SRSA Commercial Building Real Estate Inc. 3501 N. Metairie Causeway Blvd. 831-2363 Causeway Plaza 108,718 96 $19.50 15 1983/2006 6 2,896 immediate Jeff Cohn 12 III percent percent Corporate Realty 3330 W. Inc. Esplanade Ave. New Orleans 581-5005

22A New Orleans CityBusiness RE_trends2009 11/2/09 11:17 AM Page 23

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

Largest Total Quoted block of leaseable rent space Leasing agent 2009 Building name square Percent rate Common Year built/ available (sq. Leasing company Rank Address feet occupied high space renovated Floors feet) Availability Phone Causeway Plaza 108,520 92 $19.50 15 1982/2006 6 3,865 immediate Jeff Cohn 13 II percent percent Corporate Realty 3300 W. Inc. Esplanade Ave. New Orleans 581-5005 Causeway Plaza 108,480 96 $19.50 15 1982/2006 6 2,160 immediate Jeff Cohn 14 I percent percent Corporate Realty 3510 N. Inc. Causeway Blvd. New Orleans 581-5005 Jefferson 99,410 52 $13.50 NA 1982/ 1 47,950 in three John Callegari 15 Business Center percent currently months 309-7412 5401 Jefferson under Highway renovation 880 Commerce 93,629 98 $19 NA 1979/1991 5 2,400 immediate Mike Whitsell 16 Road West percent Kirsten Early 880 Commerce SRSA Commercial Road West Real Estate Inc. Metairie 831-2363 800 West 91,628 97 $19 NA 1979/2004 5 2,315 available Kirsten Early 17 Commerce percent now SRSA Commercial 800 Commerce Real Estate Road West Metairie 831-2363 Metairie Office 91,381 77 $20 15 1970/2002/ 6 9,728 available Connie Young 18 Tower percent percent 2009 now Chiasson Douglass 433 Metairie Road The Feil Organization Metairie 833-6334 Metairie Center 90,383 90 $19.50 15 1986/2002 6 5,640 available Philip Bulliard 19 2424 Edenborn percent percent now NA Ave. Severn Place 87,151 100 $19.50 15 1982/2006 5 0 NA Philip Bulliard 20 2450 Severn Ave. percent percent NA Stewart 87,000 100 $0 NA 1974/1997 5 NA NA company owns 21 Enterprises percent building Corporate NA Headquarters 1333 S. Clearview Parkway Lakeside 74,831 81 $0 NA 1988/2005 5 NA NA Kim Bayer 22 Professional percent Pacific Medical Office Building I Buildings 4720 S. I-10 NA Service Road Elmwood Oaks 71,985 80 $17 6 percent 2009 1 4,005 immediate Mike Whitsell 23 201 Evans Road percent Mike Whitsell & Associates LLC Metairie 669-4494 Interstate II 60,000 88 $17.25 15 1980/2008 3 NA NA Colleen Kuebel 24 3636 S. I-10 percent percent Berthelot Service Road Corporate Realty New Orleans NA 990 N. Corporate 58,646 93 $19 NA 1979/1992 3 4,033 available Kirsten Early 25 Park percent now SRSA Commercial 990 N. Corporate Real Estate Park Metairie 831-2363 Riverside II 57,844 85 $18.50 15 1983/2006 3 6,248 Immediate Ronnie R. Rauber 26 6620 Riverside percent percent Select Properties Drive Limited Realty Metairie 833-4494 Medical Plaza I & 52,232 93 $19 15 1972/2006 3 2,380 immediate Ronnie R. Rauber 27 ll percent percent Select Properties 3901 Houma Limited Realty Blvd. Metairie NA

Real Estate Trends Fall 2009 23A RE_trends2009 11/2/09 2:14 PM Page 24

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

Largest Total Quoted block of leaseable rent space Leasing agent 2009 Building name square Percent rate Common Year built/ available (sq. Leasing company Rank Address feet occupied high space renovated Floors feet) Availability Phone 3340 Severn 45,000 75 $17.50 15 1981/2006 4 6,900 immediate Colleen Kuebel 28 3340 Severn Ave. percent percent Berthelot Corporate Realty New Orleans 581-5005 Favrot & Shane 44,992 93 $17.25 13 1981/2006 2 1,325 3,370 Susan Wallace 29 Building percent percent Cassie Goldsboro 3925 N. I-10 Preferred Realty Service Road Inc. Metairie 455-8644 Bank of 44,000 75 $18 15 1980/2006 4 7,500 immediate Colleen Kuebel 30 Louisiana percent percent Berthelot 3340 Severn Ave. Corporate Realty New Orleans NA Coldwell Banker 40,000 92 $16 15 1970/2006 4 3,288 immediate David Wright 31 Building percent percent Coldwell Banker 4051 Veterans TEC Realtors Blvd. Metairie 828-9700 Premier Veterans Office Space The Coldwell Banker Building located at 4051 Veterans Boulevard is a four (4) story white office building in a very prime Metairie location between Cleary Avenue and Clearview Parkway on the north side of Veterans. Various renovated offices with large windows overlooking Veterans in the front and the neighborhood in the rear. Excellent parking on all sides of the building and available pylon signage in front. Very reasonable rental rates. First floor space available. Call Praveen Kailas, Tower Realty, at (504) 828-9700 www.4051Veterans.com

3200 Ridgelake 40,000 86 $17.50 15 1984/2005 4 2,900 5,800 Colleen K. 32 Building percent percent Berthelot 3200 Ridgelake Corporate Realty Drive New Orleans 581-5005 3939 N. 40,000 100 $19 15 1971/2006 4 0 0 Colleen K. 33 Causeway Blvd. percent percent Berthelot 3939 N. Corporate Realty Causeway Blvd. New Orleans 581-5005 Interstate I 40,000 75 $17.25 15 1979/2008 2 5,000 immediate Colleen Kuebel 34 3616 S. I-10 percent percent Berthelot Service Road NA Louisiana Credit 38,629 89 $16.50 NA 1984/1998 NA NA NA Judy Slack 35 Union Center percent NAI Latter & Blum 824 Elmwood Inc./Realtors Park Blvd. New Orleans 569-9452 Wagner & Truax 35,000 95 $15.50 12 1965, 1975, 2 1,200 immediate Edward Rowley 36 2121 N. percent percent 1978, 2000 Wagner & Truax Causeway Blvd. Co. Inc. Metairie 830-7300 4141 Veterans 32,339 85 $18 15 1969/2006 3 1,169 4,743 Matt Taylor 37 4141 Veterans percent percent Property One Inc. Blvd. Metairie 681-3400 Boy Scouts of 32,321 97 $13.50 15 1984/2006 2 1,013 1,013 Matt Taylor 38 America percent percent Property One Inc. 4200 S. I-10 Metairie Service Road 681-3400 Riverside I 31,699 77 $18.50 15 1981/2006 3 2,749 Immediate Ronnie R. Rauber 39 6660 Riverside percent percent Select Properties Drive Limited Realty Metairie 833-4494

24A New Orleans CityBusiness RE_trends2009 11/2/09 11:17 AM Page 25

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

Largest Total Quoted block of leaseable rent space Leasing agent 2009 Building name square Percent rate Common Year built/ available (sq. Leasing company Rank Address feet occupied high space renovated Floors feet) Availability Phone NY-II Office 30,114 85 $17 12 1985/ 3 2,601 immediate Frederick J. Tufts 40 Building percent percent 2005-2006 Crutcher-Tufts 2750 Lake Villa Corp. Drive Metairie 887-9327 Crutcher-Tufts 29,002 88 $17.50 13 1970/2006 3 9,612 NA Frederick J. Tufts 41 Building percent percent Crutcher-Tufts 3545 N. I-10 Corp. Service Road Metairie 887-9327 2626 North 26,870 100 $16.75 15 1978/1993 2 0 0 Dale C. Higgins 42 Arnoult Building percent percent NA 2626 N. Arnoult Road Capital One 25,000 95 $18.50 NA 1975/2007 4 1,421 NA Tracey T. Tarleton 43 Building percent Sizeler Realty Co. 2201 Veterans Inc. Blvd. Metairie 471-6200 FGS Building 24,498 90 $17 13 1981/2006 2 829 2,298 Susan Wallace 44 4300 S. I-10 percent percent Cassie Goldsboro Service Road Preferred Realty Inc. Metairie 455-8644 Lakeside 24,059 83 $0 NA 1980/2005 3 NA NA Kim Bayer 45 Professional percent Pacific Medical Office Building II Buildings 4740 S. I-10 NA Service Road Lakeside 19,718 100 $0 NA 1980/1997 2 NA NA Susie White 46 Medical Office percent Fertility Institute of Building III New Orleans 4770 S. I-10 New Orleans Service Road NA Enterprise Rent- 18,096 100 $18 NA 1971/1999 1 0 NA Frederick J. Tufts 47 a-Car percent Crutcher-Tufts 3529 N. I-10 Corporation Service Road Metairie 887-9327 2601 N. Hullen 14,600 80 $13.99 15 unknown 2 3,500 immediate Skip Weber 48 2601 N. Hullen percent percent NAI/Latter & Blum Inc. Realtors New Orleans 887-3929 Favrot & Shane 6,000 100 $16.75 NA 1982/2006 2 0 0 Cassie Goldsboro 49 Annex percent Susan Wallace 3945 N. I-10 Preferred Realty Service Road Metairie 455-8644 3330 Lake Villa 5,856 55 $15 15 1969/2006 2 1,330 2,648 Matt Taylor 50 3330 Lake Villa percent percent Property One Inc. Metairie 681-3400 3841 Veterans 3,077 75 $26 15 2006 2 1,570 immediate Skip Weber 51 3841 Veterans percent percent NAI/Latter & Blum Blvd., Suites 103 Inc. Realtors and 200 New Orleans 887-3929 1321 Hickory 3,000 100 $11.80 200 unknown 2 3,000 available Skip Weber 52 1321 Hickory percent percent now NAI/Latter & Blum Ave., No. 100 Inc. Realtors New Orleans 887-3929 2301 N. Hullen 1,540 100 $9.35 175 2007 2 9,300 available Skip Weber 53 2301 N. Hullen, percent percent now NAI/Latter & Blum Suite 103 Inc. Realtors New Orleans 887-3929 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, New Orleans CityBusiness Newspaper, 111 Veterans Blvd., Suite 1440, Metairie, LA 70005.

Real Estate Trends Fall 2009 25A RE_trends2009 11/2/09 11:17 AM Page 26

REAL ESTATE TRENDS 2009 Metairie and East Jefferson Metairie Lake Pontchartrain

W . Esplanade 1 5

Power 3 26 39 11 MAP 14 9 30 6 51 32

33 50 43 Bonnabel I-10 24 4941 48 37 Veterans Blvd. Zenith 22 20 4

45 29 38 19 David Dr. David 46 2 7 I-610 53 36 W . Metairie Ave. 18 Clearview Pkwy 21

Severn

N. Arnoult Metairie Rd.

ranscontinental Airline Dr. T

Causeway

Earhart Expwy

RAILROAD Jefferson Parish Orleans Parish

Citrus Jefferson Hwy

Jefferson Hwy

Mounes S. Claiborne Hickory Ave. Hickory 52 35 25 16

17 Wholesalers Pkwy Wholesalers

Edwards Plantation 15 Toler Mississippi River

Evans Brookhollow 23 1931 Harahan

West Esplanade 13

27 12 8 Clearview Cleary 10

Arnoult 33 Veterans Blvd.

I-10 47 Severn

44 Causeway 24 34

26A New Orleans CityBusiness RE_trends2009 11/2/09 11:17 AM Page 27

REAL ESTATE TRENDS 2009 North Shore

By Garry Boulard [email protected] Contributing Writer

ong accustomed to annual increases Photo by Frank Aymami Lin sales and prices, North Shore commercial real estate agents say they are getting hit from two sides — over- built office and retail space along with the effects of a recessed economy. “To put it bluntly, there aren’t enough businesses right now on the North Shore to support all of the existing — new and old — commercial real estate,” said David Wright, a commercial sales associate for Coldwell Banker Commercial TEC Realtors Inc. Small businesses have been struggling this year. And because they are downsizing, they don’t need as much space, Wright said. “On top of that, some people, to reduce expenses, have closed their offices and are doing their work out of their houses, which only creates more vacant commercial space.” To make matters more challenging, said Ted Moses, a real estate adviser for Prudential Gardner Realtors in Mandeville, there has been some over- building on the commercial side. A prominent player in the North Shore real estate market for more than three decades, Moses said older buildings filled up after Katrina, driving the construction of new ones. Those new buildings are now experiencing vacancies. The reason, he said, is because newer Grady Brame, executive vice president of Stirling Properties in Covington, and Gretchen Dauterive, a commercial sales property costs more to rent. and leasing executive with Stirling, discuss floor plans for an open space at NorthPark Business Park. “People like the nice new spaces but don’t want to pay the $30 a square foot it The North Shore commercial sector next year is going to be stronger for the takes to rent them out,” Moses said. is also contending with the national commercial side, Brame said. As a result, Moses said he is seeing recession, which has produced a drop Michael Siegel, executive vice presi- more small-tenant space, situations where off in sales for local retailers and demand dent of Corporate Realty, thinks another two tenants occupy 300 or 400 square for larger commercial space. reason why commercial real estate feet as opposed to 5,000 square feet. But Grady Brame, executive vice prospects on the North Shore may be “A 2,500-square-foot tenant right president of Stirling Properties in looking promising is their size. now would be a big deal,” he said. Covington, thinks the last quarter of “Yes, there has been some overbuild- 2009 will show improvement over the ing. But because the market is small, it first depressing months of the year. won’t take much for it to come back “With discounters and the food when the economy itself improves. That A 2,500-square-foot tenant stores, we did not see as much of a nega- may be already happening a little.” right“ now would be a big deal.” tive dip as we did in some of the clothing Moses said St. Tammany Parish’s or department stores,” he said. long-term growth rate, which has seen an The overall downward trend, Brame 18 percent population jump from Ted Moses real estate adviser said, may have run itself out. 192,000 in 2000 to 228,000 last year, will for Prudential Gardner “We are actually now seeing sales for also bolster prospects for a better 2010. Realtors in Mandeville many retailers stabilizing and maybe “That rate of growth is one of our even trending a little upward.” assets up here,” Moses said, “and has That pattern more than likely means been for a long time.”•

Real Estate Trends Fall 2009 27A RE_trends2009 11/2/09 11:17 AM Page 28

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

Largest Total Quoted block of Building leaseable rent space Leasing agent 2009 name square Percent rate Common Year built/ available Leasing company Rank Address feet occupied high space renovated Floors (sq. feet) Availability Phone Northpark 103,222 94 $23.50 24 1986 5 5,170 immediate Lee M. de la Houssaye 1 Corporate percent percent Stirling Properties Center Covington 109 Northpark (985) 898-2022 Blvd. Cypress 102,198 73 $30 12 2009 4 20,000 43,689 Marcia D'Amico 2 Bend Office percent percent Mike D'Amico Building Property One Inc. 1001 Ochsner Mandeville Blvd. (985) 674-1197 Mariner's 81,762 77 $18 NA 1983/2007 2 2,288 NA Ted H. Moses 3 Plaza percent Prudential Gardner 200 Mariner's Realtors Plaza Mandeville (985) 626-8589 Lakeview 72,302 NA NA NA 1995 NA NA NA Kim Bayer 4 Regional PMB Real Estate Medical (504) 455-9060 Office Building 101 E. Fairway Drive Northpark 69,905 78 $24 15 1998 3 0 NA Lee M. de la Houssaye 5 Corporate ll percent percent Barry Spizer 103 Northpark Stirling Properties Blvd. SRSA Commercial Real Estate Inc. Covington Metairie (985) 898-2022; (504) 831-2363 Covington's 45,000 NA $20 NA 2001 NA NA NA Rita Moreci 6 Village Walk Phoenix Covington 5100 Village Associates Walk Covington NA Slidell 43,671 93 NA NA 1993 4 1,800 NA Elizabeth Teague 7 Memorial percent NA Hospital Medical Office Building l 1051 Gause Blvd. Slidell 41,342 94 NA NA 1999 3 NA NA Elizabeth Teague 8 Memorial percent NA Hospital Medical Building lll 1150 Robert Blvd. Woodside 40,000 80 $28 10 2008 2 8,000 8,000 Marcia D'Amico 9 Energy percent percent Mike D'Amico Building Property One Inc. 830 W. Mandeville Causeway (985) 674-1197 Approach Dalwill Place 32,000 0 percent $24 NA under 2 20,000 Fall '09 NA 10 999 Dalwill construction Drive

Pontchartrain 25,500 100 $20 0 percent 1998 2 0 0 Barry Escher 11 Place percent Re/Max Commercial 1501-1535 W. Brokers Inc. Causeway Mandeville Approach NA No. 3 21,000 100 $23 NA 2000 3 NA NA Marlene Zahn 12 Sanctuary percent Cindy Saia No. 3 Mamie Henry Sanctuary NA Blvd.

28A New Orleans CityBusiness RE_trends2009 11/2/09 11:17 AM Page 29

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

Largest Total Quoted block of Building leaseable rent Year space Leasing agent 2009 name square Percent rate Common built/ available Leasing company Rank Address feet occupied high space renovated Floors (sq. feet) Availability Phone No. 5 21,000 100 $22 NA 2006 3 NA NA Marlene Zahn 13 Sanctuary percent Cindy Saia Blvd. Mamie Henry No. 5 NA Sanctuary Blvd. No. 2 21,000 98 $21 NA 1998 3 1,006 immediate Marlene Zahn 14 Sanctuary percent Cindy Saia No. 2 Mamie Henry Sanctuary NA Blvd. No. 4 21,000 97 $21 NA 2004 3 1,670 immediate Marlene Zahn 15 Sanctuary percent Cindy Saia No. 4 Mamie Henry Sanctuary NA Blvd. The 20,153 100 $20 NA 1998 1 0 NA Barry Spizer 16 Allstate percent SRSA Comercial Real Estate Building Inc. 111 Park Metairie Place (504) 831-2363 Stirling 20,000 90 $22 0 percent 2005 1 2,000 immediate Barry Escher 17 Place percent Re/Max Commercial Brokers 1321 W. Inc. Causeway Mandeville Approach NA Slidell 18,522 100 NA NA 1997 2 NA NA Elizabeth Teague 18 Memorial percent NA Hospital Medical Office Building ll 901 Gause Blvd. Tammany 17,000 83 $11.30 NA 1970 2 1,912 immediate Joseph W. Carroll II 19 Home percent Latter & Blum Inc. Center Mandeville 2101 U.S. (985) 626-5695 Highway 190 Crossroads 17,000 80 $14 NA NA NA 3,245 immediate Joseph W. Carroll II 20 1705 percent Latter & Blum, Inc. Highway 59 Mandeville (985) 626-5695 No. 1 16,000 89 $21 NA 1997 3 1,068 immediate Cindy Saia 21 Sanctuary percent Marlene Zahn No. 1 Mamie Henry Sanctuary NA Blvd. Iberia Bank 16,000 100 $23 NA 1980 3 NA NA Marcia D'Amico 22 Building percent Mike D'Amico 4565 Property One Inc. LaSalle St. Mandeville NA Park Place 15,850 61 $21 15 1986 3 6,237 immediate Lee M. de la Houssaye 23 Office percent percent Stirling Properties Building Covington 106 Park NA Place 111 N. 15,400 90 $13 NA 1980 2 1,000 immediate Joseph W. Carroll II 24 Causeway percent Latter & Blum Inc. Building Mandeville 111 N. NA Causeway Blvd. Brookside 14,400 83 $13 NA NA 1 900 immediate Ted Moses 25 1011 N. percent Prudential Gardner Realtors Causeway Mandeville Blvd. (985) 626-8589

Real Estate Trends Fall 2009 29A RE_trends2009 11/2/09 11:17 AM Page 30

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

Largest Total Quoted block of Building leaseable rent Year space Leasing agent 2009 name square Percent rate Common built/ available Leasing company Rank Address feet occupied high space renovated Floors (sq. feet) Availability Phone Allstate 14,039 64 $13.50 NA 1998 2 5,100 immediate Will Barrois 26 Insurance percent Stirling Properties Building Covington 2401 N. U.S. NA Highway 190 The Edson 13,222 52 $14 NA NA NA 1,780 immediate Joseph W. Carroll II 27 Building percent Latter & Blum Inc. 21357 Marion Mandeville Lane (985) 626-5695 OPS Office 12,034 72 $15 811 1998/2003 2 2,953 now Roxie Meyers 28 Building percent percent Avalar 1206 Park Mandeville Drive NA Fountainhead 7,783 0 percent $10,000 NA NA NA 7,783 immediate Joseph W. Carroll II 29 61445 Latter & Blum Inc. Lemieux Mandeville NA 847 Galvez 7,464 86 $30 11 2009 2 900 immediate Ted Moses 30 Office percent percent Prudential Gardner Realtors Building Mandeville 847 Galvez (985) 674-8887; (985) St. 626-8589 Brookside 5,100 0 percent $10 NA NA 1 5,100 immediate Joseph W. Carroll II 31 Office Latter & Blum Inc. Building Mandeville 101 Brookside (985) 626-5695 Drive 1150 N. 5,000 70 $18 NA 1988 1 1,500 12/01/08 Jeffrey H. St. Romain 32 Causeway percent NA Blvd. 1150 N. Causeway Blvd. Professional 4,750 70 $15 NA 1981/2007 3 1,863 4,750 William L. Treadway 33 Village percent (985) 626-2954 700 Gause Blvd. North Star 3,500 72 $13 NA unknown/ 2 990 NA Ted Moses 34 Theater percent 2006 Prudential Gardner Realtors 347 Girod St. Mandeville (985) 626-8589 880 Lafayette 3,000 1,000 $12 NA NA 1 3,000 NA Joseph W. Carroll II 35 880 Lafayette percent Latter & Blum Inc. Mandeville (985) 626-5695 220 Dalwill 1,832 100 $12 NA 2006 1 NA NA Joseph W. Carroll II 36 Building percent Latter & Blum Inc. 220 Dalwill Mandeville Drive NA 1795 W. 1,000 100 $18.36 200 unknown 2 1,000 September Skip Weber 37 Causeway percent percent 1, 2009 NAI/Latter & Blum Inc. Approach Realtors 1795 W. New Orleans Causeway (504) 887-3929 Approach, Suite 103A 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, New Orleans CityBusiness Newspaper, 111 Veterans Blvd., Suite 1440, Metairie, LA 70005.

30A New Orleans CityBusiness RE_trends2009 11/2/09 11:17 AM Page 31

REAL ESTATE TRENDS 2009 North Shore

River Rd. W. 21st Ave. U.S. 190 Talisheek Rd. Allen Rd. N. Lee Rd. Military Rd. Covington 6 Boston Ave. Abita Springs West Causeway Approach

26 Range Line Rd. * 23 10 17 36 37 2 16 Hickory Ave. 1 N. Causeway Boulevard 5 * 27 *24 25 32

MAP CovingtonMandeville Hwy I-12 Hwy. Abita U.S. Highway 190 West Causeway Approach* *19 Highway 1904 I-59 13 12 15 22 31 Pine 14 20 Watts Rd. 28 I-12 21 Fish Hatchery Rd. 30 35 Highway * 3 1088 N. Causeway Blvd. 9 Florida Ave. 34

U.S. 190 Davis Rd.

Military Rd. I-12

29 St. Joe Rd. U.S. 190 Mandeville 18 Robert8 Rd. Lake Ave. 33 7

Thompson Rd. U.S. 190

Bayou Liberty Rd. Front St. Old Spanish Trail Slidell LAKE PONTCHARTRAIN

REAL ESTATE TRENDS 2009 West Bank

By Garry Boulard

[email protected] Photo by Frank Aymami Contributing Writer

ike Suleiman feels as though he is Mcaught between good and bad times. “Everything was great,” he said, when he first laid out plans in 2006 to build an 18-store shopping center at 2201 Barataria Blvd. “There was all kinds of new commercial building going on all over the West Bank.” But by the time that property, official- ly called Barataria Plaza LLC, opened for business in 2007, Suleiman already was seeing early signs of a recession. “Then last year the economy col- lapsed, and everything went upside down,” Suleiman said, explaining that frozen credit has turned out to be his greatest challenge. “People cannot get money to start a business and rent out a space, and those Thomas Naoum of Dover Construction, left, reviews statistics about the former Circuit City location on Lapalco who might have $50,000 or $100,000 Boulevard in Marrero with David Wright, Coldwell Banker senior commercial executive. continued on page 32

Real Estate Trends Fall 2009 31A RE_trends2009 11/2/09 11:17 AM Page 32

REAL ESTATE TRENDS 2009 West Bank

continued from page 31 and along Manhattan Boulevard, and arteries are pretty well sold out.” that’s about it. And the space that is avail- Even so, David Wright, a commercial on hand don’t want to risk it.” able on Manhattan is moving pretty fast.” sales associate with Coldwell Banker Even so, Suleiman has managed to rent Jack Stumpf, president of Jack Commercial TEC Realtors, said com- out some of his space to tenants, including Stumpf and Associates Inc. in Harvey, mercial property on the West Bank has a dance studio and a hair and nail salon. sees the same problem. never been a boom and bust market. And he remains optimistic that by asking “There are really very few tracts left “It stays in the middle area, which is $14 per square foot for spaces ranging in for commercial development,” Stumpf good,” Wright said. size from 1,100 to 6,000 square feet, he is said. “If you look at the major arteries, Greg Lier, executive vice president going to weather the storm. you may have one or two sites on Belle with the Rathborne Commercial and “This is a good deal,” Suleiman said. Chasse Highway, maybe one or two on Industrial Properties in Harvey, agrees. Such deals can be found throughout Lapalco, but nothing really to speak of “That kind of cycle makes the West the West Bank, said Walter King, a bro- on Manhattan or Barataria. The major Bank a much more stable market,” Lier ker with Signature Properties. said. “We deal primarily with industrial “2009 is a great time for any business real estate, and even in this area the to make a move into a new space West Bank has been pretty solid. What 2009 is a great time for any because they can get things much new building there has been has typical- business to make a move into a cheaper now than when the economy “ ly been owner- or user-occupied doing new space because they can get went south,” he said. the construction.” things much cheaper now than What may slow the economic recov- That sort of stability, Stumpf said, when the economy went south.” ery of the West Bank, King said, is a lack means it will take less for the West Bank of space. to come out of the downturn than other “Businesses like brand new places,” he Walter King parts of the country. said. “But there really isn’t that much Class broker with Signature Properties “We just don’t know when that’s going A space left. You have a little in Algiers to happen.”•

REAL ESTATE TRENDS 2009 West Bank

To Huey Long Bridge

Verret Opelousas

Thayer Central Business District Bus. U.S. 90 Gen. Meyer Crescent City Connection 11 Gen. DeGaulle

River Road 2 MAP

LA 18 Holiday

7 Pl. Hyman

Holmes Blvd.3 Franklin

Whitney MacArthur Uptown Lafayette Behrman10 Huey P. Long Derbigny 1 M Stumpf ORLEANS PARISH i JEFFERSON PARISH Woodland ssiss r Manhattan Blvd. Bus U.S. 90 LA 541 ippi Rive 8 12 Louisiana 4th LA 18 5 W 13 6 es Peters Rd. t B Destrehan an MacArthur k Pkwy Terry Expressway Lapalco 9 Belle Chasse

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4 Lapalco PLAQUEMINES PARISH

Harvey Canal intracoastal warehouses

Ames

LA 407 LA Wall Blvd. Wall

Alexis

Pet coastal Waterway e Engineers Rd. . ra St 32A New Orleans CityBusiness RE_trends2009 11/2/09 11:17 AM Page 33

West Bank (ranked by total leasable space)

Largest Total Quoted block of Building leaseable rent space Leasing agent 2009 name square Percent rate Common Year built/ available Leasing company Rank Address feet occupied high space renovated Floors (sq. feet) Availability Phone Oakwood 132,454 96 $19.50 15 1983/2008 6 1,645 immediate Connie Young 1 Corporate percent percent Chiasson-Douglass Center The Feil 401 Whitney Organization Ave. Metairie 833-6334 Timbers 128,183 90 $16 12 1984/1995 5 4,815 13,661 Beau Jenkins 2 Office percent percent Security National Building Properties 3520 General Baton Rouge DeGaulle 368-6556 Drive Westpark 108,889 100 $21 NA 1983/1997 6 0 0 Cres Gardner 3 Office percent Bryan Burns Building Cres Gardner 1 Seine Transwestern Court New Orleans 799-3124 Lapalco 48,000 77 $12 0 percent 1986 1 5,500 11,000 Jack Stumpf 4 Square percent 366-6800 1545 Lapalco Blvd. 2550 42,120 100 $17 5 percent 1983 NA NA NA John Joseph Farrell 5 Building percent NA 2550 Belle Chase Highway MG Plaza 30,000 96 $15 10 1984/2006 3 1,200 immediate Jack Stumpf 6 1604 Belle percent percent 366-6800 Chase Highway Mac Arthur 27,439 75 $14 NA 1971/1991 2 3,394 NA Stephanie Hilferty 7 Professional percent SRSA Commercial Building Real Estate 3712 Mac Metairie Arthur Blvd. 831-2363 Cypress 24,248 100 $15 4,351 1976/2006 2 14,290 NA A. K. Gordon 8 Park percent percent Crown Properties, 405 Gretna Inc. Blvd. Gretna 366-4001 Marrero 23,310 100 $14.75 15 1971/1991 4 0 NA Vincent Vastola 9 Land Office percent percent Marrero Land & Plaza Improvement 5201 Association Ltd. Westbank Marrero Expressway 341-1635 3221 16,500 95 $16.50 0 percent 1970/2000 2 800 Nov. 1. 2009 Jack Stumpf 10 Behrman percent 366-6800 Place 3221 Behrman Place Plaza West 16,000 100 $14 0 percent 1983/2006 2 NA NA Jack Stumpf 11 3201 General percent 366-6800 DeGaulle Drive 1141 15,000 100 $8 0 percent 1981/2002 2 0 NA Jack Stumpf 12 Building percent 366-6800 1141 Whitney Ave. 2766 Belle 2,220 0 percent $9.84 0 percent unknown 2 1,220 immediate Skip Weber 13 Chasse NAI/Latter & Blum 2766 Belle Inc. Realtors Chasse New Orleans Highway, 887-3929 Suites A-07 and A-10 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, New Orleans CityBusiness Newspaper, 111 Veterans Blvd., Suite 1440, Metairie, LA 70005.

Real Estate Trends Fall 2009 33A RE_trends2009 11/2/09 11:17 AM Page 34

Commercial leasing companies (ranked by commercial square feet leased)

Top local executive Commercial Leasing breakdown in Title Company square feet square feet (office/retail/ Phone Top three leases (lessee, Address leased other) Fax square feet) Stirling Properties 2,700,000 office 2.1 million; retail Martin A. Mayer WND 109 Northpark Blvd., Suite 600,000 president and CEO 300 (985) 898-2022 Covington 70433 (985) 898-2077 Corporate Realty Inc. 2,676,000 retail 1.2 million; office 1.47 Michael J. Siegel Liskow & Lewis, 70,364; 201 St. Charles Ave., Suite million executive vice Regions Bank, 56,222; Dick's 4411 president Sporting Good 50,000 New Orleans 70170 581-5005 581-2605 Max Derbes Inc. 2,375,000 industrial 2.33 million; office David B. Quinn Almonaster Ave. 115,000 5440 Mounes Blvd., Suite 44,000 president (industrial); Harbor Circle 100 733-4555 56,000 (industrial); Timesaver Elmwood Business Park 733-5518 Ave. - 48,000 (industrial) New Orleans 70123 SRSA Commercial Real 2,257,903 office 668,470; retail 955,034; Barry Spizer, Steve Allstate, 46,866; Wells Fargo, Estate industrial 354,973; other Reisig, Don 32,814; Ostler Int., 27,752 2555 Severn Ave., Suite 200 279,426 Schwarcz, Kirsten Metairie 70002 Early principals 831-2363 456-8995 Bridgewater Properties 1,920,400 office 72,000; retail 41,600; Robert D. Bridgewater WND 5612 Jefferson Highway other 1,806,800 Jr. Elmwood 70123 managing broker and owner 733-9638 734-1897 Sealy and Company 1,725,553 146,365 office; 1.69 million Daniel P. Poulin Ostler d.b.a. Certifit, 27,752; 150 James Drive E., Suite industrial senior regional Kongsberg, 27,636; 140 director Progressive, 27,687 St. Rose 70087 463-5600 463-5650 Jones Lang LaSalle 1,668,541 WND Greg Riera WND Americas Inc. senior vice president 1515 Poydras St., Suite 585-2670 1970 585-2674 New Orleans 70112 Latter and Blum Cos. 1,321,904 industrial 659,897; office Robert W. Merrick WND 430 Notre Dame St. 159,152; retail 502,855 chairman and CEO New Orleans 70130 525-1311 569-9336 CB Richard Ellis 1,256,991 office 1.21 million; retail Russell Marchand Shell Oil, 701,759; Adams & 701 Poydras St., Suite 3870 41,788; other 5,000 senior property Reese, 99,078; Liskow Lewis, New Orleans 70139 manager 70,764 323-7000 323-7052 Rathborne Cos. LLC 1,122,000 office 16,000; warehouse J. Cornelius WND P.O. Box 157 1,106,000 Rathborne Harvey 70059 president and CEO 368-6355 368-6388 Marrero Land and 1,031,567 office 125,000; retail 500,000; N. Buckner Barkley WND Improvement Association other 406,567 president Ltd. 341-1635 5201 Westbank 340-4277 Expressway, Suite 400 Marrero 70072 Kailas Cos. / Tower Realty 726,767 office 204,251; retail 490,416; Mohan Kailas First NBC, 49,357; Regions 3525 N. Causeway Blvd., other 32,100 president and CEO Bank, 10,531; Regions Bank, Suite 1040 828-9700 28,907 Metairie 70002 828-9717 Coldwell Banker 519,200 80 percent office; 10 percent Mark E. Inman WND Commercial TEC Realtors retail; 10 percent other managing broker Inc. 566-1777 400 Poydras St., Suite 2650 566-1775 New Orleans 70130 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.

34A New Orleans CityBusiness RE_trends2009 11/2/09 11:17 AM Page 35

Commercial leasing companies (ranked by commercial square feet leased)

Top local executive Commercial Leasing breakdown in Title Company square feet square feet (office/retail/ Phone Top three leases (lessee, Address leased other) Fax square feet) Lupo Enterprises 500,000 WND Robert Lupo Parc St. Charles Hotel, 65,000; 145 Robert E. Lee Blvd. CEO Robert Fresh Market, 30,000; New Orleans 70124 283-3421 Pelican Club, 14,185 283-3423 Property One Inc. 453,668 office 417,433; retail 34,775; Quentin Dastugue GSA 139,683; Entergy 29,000; 4141 Veterans Blvd., Suite other 1,460 CEO Results in Learning 12,434 300 681-3400 Metairie 70002 681-3438 Re/Max Commercial 451,546 office 205,909; retail 111,213; Richard E. Juge Harris County Authority 37,000; Brokers Inc. warehouse 128,590; other president, broker and WND 36,000; Production 3331 Severn Ave., Suite 200 5,834 owner Anodes Inc. 27,000 Metairie 70002 838-0001 1740 N. Causeway Blvd. 835-0900 Mandeville 70471 Equity Office Properties 440,096 office Bruce Sossaman WND 3900 N. Causeway Blvd., leasing director Suite 1350 219-5842 Metairie 70002 219-5849 Jack Stumpf and 348,700 WND Jack Stumpf WND Associates Inc. president 1700 Central Ave. 366-6800 Harvey 70058 NA Regis Realty One Inc. 342,987 all office Sandra Corrigan WND 1340 Poydras St., Suite senior vice president 1770 566-1400 New Orleans 70112 566-1799 The Mullin Co. 263,338 office 14,566; warehouse Charles M. Mullin WND 11 James Blvd., Suite 210 248,772 president St. Rose 70087 465-9345 464-1473 Crutcher-Tufts Corp. 173,826 office 134,226; other 39,600 Frederick J. Tufts WND 2750 Lake Villa Drive, Suite vice president 200 887-9327 Metairie 70002 887-9373 Borngesser Realty 90,000 retail 8,000; office 6,000; other Don Borngesser WND Company LLC 76,000 broker/owner 4415 Shores Drive 454-0800 Metairie 70006 456-1652 Select Properties Ltd. 71,599 office 71,599 Francis E. Klipping L & L Oil-7,887; St. Realty vice president Farm-7,153; Dr. Bopp-5,148 6620 Riverside Drive, Suite 833-0044 300 833-0848 Metairie 70003 DBIC Property 50,000 office 50,000 Arnold Cooper WND Management Inc. president 100 Conti St. 581-4082 New Orleans 70130 698,000 Prudential Gardner 40,349 90 percent office; 10 percent Ted Moses WND Realtors retail real estate adviser 800 N. Causeway Blvd., (985) 674-8887 Suite 1-A (985) 626-1623 Mandeville 70448 Meltzer Properties 35,000 100 percent retail John A. Meltzer WND 4621 W. Napoleon Ave., president Suite 106 885-8400 Metairie 70001 885-9610 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.

Real Estate Trends Fall 2009 35A RE_trends2009 11/2/09 11:17 AM Page 36

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

Stirling Properties (985) 898-2022 4 million 0 percent 80 percent 13 10 percent Hammond Square, 109 Northpark Blvd., (985) 898-2077 12 million 100 percent 106 21 percent Heritage Plaza, Suite 300 68 percent Stirling Covington Covington 70433 Center

SRSA Gulf South 831-2363 4 million 1 percent 100 percent 5 2 percent Northside Plaza, Management 456-8995 4 million 99 percent 27 56 percent 1201 Elmwood 2555 Severn Ave., 42 percent Parkway Office Suite 200 Building, 3501 N. Metairie 70002 Causeway Office Building Hertz Investment 299-3000 2 million 100 percent NA 15 0 percent 400, 650 and 909 Group 10 million 0 percent 150 100 Poydras St., 400 Poydras St., percent Westpark Suite 1760 0 percent New Orleans 70130

Bridgewater 733-9638 2 million 31 percent 100 percent 3 90 percent Elmwood Properties 734-1897 2 million 69 percent 8 5 percent Distribution Center, 5612 Jefferson 5 percent Mid-City Business Highway Park, Greater New Elmwood 70123 Orleans Warehouse

Sealy and 463-5600 2 million 37 percent 100 percent 1 92 percent James Distribution Company 463-5650 13 million 63 percent 8 8 percent Center, Sealy 150 James Drive E., 0 percent Ashland Distribution Suite 140 Center, Baton St. Rose 70087 Rouge 4

Lauricella Land Co. 733-1800 2 million 100 percent 100 percent 2 0 percent Elmwood Center, 1200 S. Clearview 733-1212 2 million 0 percent 26 7 percent Elmwood Office Parkway, Suite 1166 733-4598 93 percent Park, Midtown New Orleans 70123 Square, Airline Park, Manhattan West Jones Lang LaSalle 585-2670 2 million NA 100 percent 2 0 percent 1515 Poydras St., Americas Inc. 585-2678 250 million 100 percent 22 100 1555 Poydras St., 1515 Poydras St., 585-2674 percent Pan American Life Suite 1970 0 percent Center New Orleans 70112

Kailas Cos. / Kailas 828-9700 1 million 100 percent 100 percent 2 3 percent Chateau Shopping Management 832-1234 1 million 0 percent 15 55 percent Center, Kenner 3525 N. Causeway 828-9717 42 percent Plaza Shopping Blvd., Suite 1040 Center, Regions Metairie 70002 Bank Building

Corporate Realty 581-5005 1 million 0 percent 100 percent 3 0 percent One Canal Place, Inc. 581-2605 120,000 100 percent 40 95 percent East Jefferson 201 St. Charles 5 percent Medical Buildings, Ave., Suite 4411 Bellmeade New Orleans 70170 Shopping Center

Revenue 904-8500 1 million 100 percent 100 percent 3 0 percent Southland Mall, Properties 904-8525 2 million 0 percent 114 0 percent North Shore Square Management Co. 100 Mall Inc. percent 2542 Williams Blvd. Kenner 70062 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.

36A New Orleans CityBusiness RE_trends2009 11/2/09 11:17 AM Page 37

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

Total Percentage of rentable property Percent of commercial owned by: Percentage property Telephone sq. ft. company or of sq. ft. Property managed: Alternative managed: affiliates company is managers Industrial Name Phone locally third-party responsible Full-time Office Largest properties Address Fax nationally management for leasing employees Retail managed locally Loeb Partners 524-4444 1 million NA NA 3 NA Place St. Charles Management of 582-1425 NA NA 15 NA Louisiana LLC NA 201 St. Charles Ave., Suite 1500 New Orleans 70170 Marrero Land and 341-1635 1 million 100 percent 100 percent 1 37 percent OakRidge Plaza Improvement 341-1636 0 0 percent 19 13 percent Shopping Center, Association 340-4277 50 percent Westwood Limited Shopping Center 5201 Westbank Expressway, Suite 400 Marrero 70072 Regis Property 544-7025 939,743 100 percent 100 percent 2 3 percent 1010 Common St., Management LLC 561-6017 1 million 0 percent 8 87 percent 1340 Poydras St. 1010 Common St., 544-7029 10 percent Suite 300 New Orleans 70112 The Berger Co. Inc. 581-4082 925,000 40 percent 20 percent 2 0 percent Shops at Canal 100 Conti St. 581-7823 0 60 percent 7 5 percent Place; Pavilion New Orleans 70130 95 percent Shopping Center, RiversideMarket Shopping Center Select Properties 833-0044 623,566 40 percent 100 percent 3 1 percent 3421 Causeway Ltd. Realty 833-0848 1 million 60 percent 16 46 percent Building, K-Mart 6620 Riverside 53 percent Veterans Drive, Suite 300 Metairie 70003 Coldwell Banker 566-1777 371,561 0 percent 100 percent 3 7 percent 701 Loyola Ave. Commercial TEC 566-1775 0 100 percent 5 93 percent Realtors 0 percent 400 Poydras St., Suite 2650 New Orleans 70130 Gulf States Real (985) 792-4385 362,367 13 percent 100 percent 1 0 percent HCA/Medline Estate Services (985) 792-4392 0 0 percent 12 50 percent 196,767 109 New Camellia 13 percent Blvd. Covington 70433 Property One Inc. 681-3400 350,280 2 percent 45 percent 7 0 percent Federal Fibre Mills, 4141 Veterans Blvd., 681-3438 2 million 98 percent 44 36 percent 4141 Veterans Suite 300 64 percent Blvd., Cypress Bend Metairie 70002 Office Park

Meltzer Properties 885-8400 265,000 100 percent 100 percent 1 0 percent Northlake Shopping 4621 W. Napoleon 885-9610 270,000 NA NA 0 percent Center, Woodmere Ave., Suite 106 100 Square Shopping Metairie 70001 percent Center

Crutcher-Tufts 887-9327 173,826 100 percent NA 2 0 percent 546 Carondelet St.; Corp. 887-9373 0 NA 7 100 3545 N. I-10 Service 2750 Lake Villa percent Road, Metairie; Drive, Suite 200 0 percent 2750 Lake Villa Metairie 70002 Drive, Metairie Preferred Realty 455-8644 170,318 100 percent NA 1 8 percent Favrot & Shane 3925 N. I-10 Service 885-4941 0 100 percent 4 68 percent building Road, Suite 130 24 percent Metairie 70002

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.

Real Estate Trends Fall 2009 37A RE_trends2009 11/2/09 11:17 AM Page 38

Flex-Space (ranked by total square feet)

Property name Leasing agent Address Total square feet Company Region Percent occupied Quoted rent rate Phone Jefferson Business Center 102,209 $7-$13 Jennifer A. Lee 520-524 Elmwood Park Blvd. 71 percent Sealy and Company Elmwood 150 James Drive E., Suite 140 St. Rose, LA 70087 463-5600 www.sealynet.com

Westside II 68,692 $7-$11 Jennifer A. Lee 125 James Drive West 100 percent Sealy and Company St. Rose 150 James Drive East, Suite 140 St. Rose 70087 463-5600 www.sealynet.com

Sealy Business Center I 67,750 $5-$7 Jennifer A. Lee 115 Canvasback 100 percent Sealy and Company St. Rose 150 James Drive East, Suite 140 St. Rose 70087 463-5600 www.sealynet.com

Service Center 24 53,544 $6-$13 Jennifer A. Lee 150 Teal St. 100 percent Sealy and Company St. Rose 150 James Drive East, Suite 140 St. Rose 70087 463-5600 www.sealynet.com

Sealy Business Center II 49,800 $6-$13 Jennifer A. Lee 110 Widgon Drive 100 percent Sealy and Company St. Rose 150 James Drive East, Suite 140 St. Rose 70087 463-5600 www.sealynet.com

Sealy Business Center III 49,800 $6-$9 Jennifer A. Lee 150 Widgeon Drive 100 percent Sealy and Company St. Rose 150 James Drive East, Suite 140 St. Rose 70087 504-463-5600 www.sealynet.com

Park Plaza 49,600 $7-$8 Kenneth A. Kuebel 621, 623, 625 Distributor's Row 85 percent Ken Kuebel and Associates Elmwood P. O. Box 6275 Metairie 70009 504-400-8601

St. Charles II 49,275 $7-$12 Jennifer A. Lee 150 James Drive East 100 percent Sealy and Company St. Rose 150 James Drive E., Suite 140 St. Rose, LA 70087 463-5600 www.sealynet.com

St. Charles I 47,747 $6-$10 Jennifer A. Lee 161 James Drive West 93 percent Sealy and Company St. Rose 150 James Drive E., Suite 140 St. Rose, LA 70087 463-5600 www.sealynet.com

Canvasback 40,500 $6-$6 Jennifer A. Lee 150 Canvasback Drive 100 percent Sealy and Company St. Rose 150 James Drive East, Suite 140 St. Rose 70087 463-5600 www.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

38A New Orleans CityBusiness RE_trends2009 11/2/09 11:17 AM Page 39

Flex-Space (ranked by total square feet)

Property name Leasing agent Address Total square feet Company Region Percent occupied Quoted rent rate Phone Eastside I 36,357 $8-$13 Jennifer A. Lee 190 James Drive East 100 percent Sealy and Company St. Rose 150 James Drive East, Suite 140 St. Rose 70087 463-5600 www.sealynet.com 5612 Jensen St. 36,000 $7-$9 Gerard Henry and Vincent Vastola 5612 Jensen St., Harahan 60 percent Marrero Land And Improvement Elmwood Business Park Association Ltd. 5201 Westbank Expressway, Suite 400 Marrero 70072 341-1635 www.marreroland.com Edenborn Plaza 26,880 $11-$14 Gerard Henry and Vincent Vastola 2615-16 Edenborn Ave. 91 percent Marrero Land & Improvement Metairie Association Ltd. 5201 Westbank Expressway, Suite 400 Marrero 70072 341-1635 www.marreroland.com Service Center 21 23,436 $10-$13 Jennifer A. Lee 107 Mallard St. 100 percent Sealy and Company St. Rose 150 James Drive East, Suite 140 St. Rose 70087 463-5600 www.sealynet.com Service Center 23 23,436 $6-$11 Jennifer A. Lee 143 Mallard St. 66 percent Sealy and Company St. Rose 150 James Drive East, Ste 140 St. Rose 70087 463-5600 www.sealynet.com Service Center 22 23,436 $9-$13 Jennifer A. Lee 125 Mallard St. 48 percent Sealy and Company St. Rose 150 James Drive East, Suite 140 St. Rose 70087 463-5600 www.sealynet.com 1305 Distributors Row 22,300 $10-$12 Gerard Henry and Vincent Vastola 1305 Distributors Row, Harahan 100 percent Marrero Land And Improvement Elmwood Business Park Association Ltd. 5201 Westbank Expressway, Suite 400 Marrero 70072 341-1635 www.marreroland.com Westside I 21,408 $8-$11 Jennifer A. Lee 115 James Drive West 100 percent Sealy and Company St. Rose 150 James Drive East, Suite 140 St. Rose 70087 463-5600 www.sealynet.com Oak St. 18,000 $12-$12 Barry Escher 999 Oak St. 6,000 percent Re/Max Commercial Brokers Inc. Mandeville 1740 N. Causeway Blvd. Mandeville 70471 (985) 727-0001 nolacommercial.com 880 Lafayette 3,000 $6-$12 Joseph Carroll 880 Lafayette 100 percent Latter & Blum, Inc. North Shore 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

Real Estate Trends Fall 2009 39A RE_trends2009 11/2/09 11:17 AM Page 40

Shopping centers (ranked by total rentable square feet)

Total rentable Shopping center square feet Address Percent occupied Leasing agent Parking Type of Area Year completed Major tenants Leasing company spaces center Lakeside Shopping 1.163 million Dillard's, Macy's, JCPenney, XXI by Forever 21, Glen Wilson 6,000 super Center 96 percent Apple, Pottery Barn, P.F. Chang's, Restoration Greater Lakeside regional 3301 Veterans 1960 Hardware, Sephora Corp. shopping Memorial Blvd. Metairie center Metairie Elmwood Village 1 million Home Depot, Sports Authority, Kmart, Will Place NA NA Center 96 percent PetSmart, Best Buy, Office Max, Marshalls Robert M. Israel 1200 S. Clearview 1987 Parkway Elmwood Oakwood Center 960,000 Sears, Dillard's, JCPenney Brian Lade 4,558 regional 197 Westbank NA General Growth Expressway 1966/2007 Properties West Bank Chicago The Esplanade 917,000 Macy's, Dillard's, Dillard's Men Richard J. Rubino NA NA 1401 W. Esplanade NA Simon Property Ave. 1985 Group Kenner Indianapolis Hammond Square Mall 843,115 Dillard's, Sears, Target, JCPenney, AMC Rhonda Sharkawy 4,230 power Interstate 12 & U.S. 85 percent Theatre, Best Buy, Books-A-Million, TJ Maxx Beezie Landry center Highway 51 2009 Stirling Properties Hammond Covington Clearview Mall 700,000 Target, Bed Bath & Beyond, Sears Tara M. Lubrano 3,000 regional 4436 Veterans 98 percent shopping Memorial Blvd. 2002 center Metairie Southland Mall 624,513 Dillard's, JCPenney, Sears Marc Dusang 2,716 enclosed 5953 W. Park Ave. 90 percent Morguard | Revenue mall Houma NA Properties Revenue Properties Management Co. Inc. Kenner Kenner North Shore Square 621,192 Dillard's, JCPenney, Sears Susan Swan NA enclosed 150 North Shore Blvd. 96 percent Marc Dusang mall Slidell 1985 Revenue Properties Kenner Stirling Covington 610,000 Target, Belk, JCPenney, Ross, Marshalls, Rhonda Sharkawy NA power Center 95 percent Hollywood Theatre, Best Buy, World Market Stirling Properties center Interstate 12 and 2004 Covington Highway 21 Covington Stirling Slidell Centre 345,000 Target, Ross Dress for Less, PetSmart, Shoe Rhonda Sharkawy 1,000 power 61121 Airport Road 87 percent Carnival, Dress Barn, David's Bridal, MW Tux, Stirling Properties center Slidell 2003 Academy Sports & Outdoors Covington Pavillion Shopping 287,042 Academy Sports, Rouses Grocery, Furniture Arnold Cooper NA NA Center 73 percent Mart Barrett Cooper 1000 W. Esplanade 1988 Stirling Properties Ave. New Orleans Kenner Premier Centre 273,000 Barnes & Noble, Bed Bath & Beyond, Stein Rhonda Sharkawy NA power 3474 U.S. Highway 190 100 percent Mart, Albertson's, Old Navy, Gap/Gap Kids, Stirling Properties center Mandeville 2000 Victoria's Secret, Rack Room Shoes, Hallmark, Covington Banana Republic, American Eagle, Romano's Macaroni Grill, Chili's, Aeropostale, La Madeleine, Albertson's The Shops at Canal 260,000 Saks Fifth Avenue, Brooks Brothers Open Realty 1,625 mixed use/ Place 97 percent Advisors lifestyle 333 Canal St. 1983 New Orleans Westside North Center 252,000 Academy, Capital One, Casey Jones, Citi Trend Jeff Moore NA retail Westbank Expressway 90 percent Realm Realty and Stumpt Boulevard 1998 Gretna Slidell Commerce 252,000 Piper Flooring, Trinitys Denise Gaines 1,000 commerical Center 25 percent Praveen Kailas office/retail 1000 Caruso Blvd. 1980/2007 Tower Realty condo Slidell New Orleans 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.

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Shopping centers (ranked by total rentable square feet)

Total rentable Shopping center square feet Address Percent occupied Leasing agent Parking Type of Area Year completed Major tenants Leasing company spaces center Magnolia Shopping 227,300 Kmart, Chuck E. Cheese, JoAnn's Fabric, Moise S. Steeg NA large strip Center 95 percent Gordon's of Metairie James V. Kellett center 7000 Veterans 1980 Memorial Blvd. Metairie Carrollton Shopping 225,000 Firestone, Family Dollar Brian K. Suiter 1,100 regional Center NA Carrollton Central shopping 3300 South Carrollton under construction Plaza Associates center Ave. Metairie Orleans Parish Holiday Park 224,500 Bank of America, Papa Johns, O'Reilly Auto David Waltemath NA retail 3500-3580 Holiday 90 percent Parts Classic Properties Drive 2006 New Orleans Algiers Kenner Plaza 210,848 Burlington Coat Factory, Office Depot, Party Denise Gaines 800 strip 3300-3400 Williams 95 percent City, Rite Aid Praveen Kailas Blvd. 2006/pending Tower Realty Kenner facade renovation New Orleans Slidell Commercial 200,000 Trinity reception hall, A Bride Adorned, Living Skip Weber 898 retail and Center 10 percent The Word NAI/Latter & Blum office 1000 Caruso Blvd. 2008 Inc. Realtors North Shore New Orleans Riverwalk Marketplace 197,000 Southern Food and Beverage Museum, The Brian Lade 0 marketplace 1 Poydras St. NA Gap, Chicos, Ann Taylor Loft, Mike Anderson's, General Growth New Orleans 1986 Crazy Lobster, Nine West, Clarks Properties Chicago Seville Plaza 187,515 Albertson's, Big Lots, Aarons Rent to Own Beezie Landry NA neighborhood Shopping Center 99 percent Stirling Properties center 1905 W. Thomas St. 2000 Covington Hammond Oak Ridge Plaza 179,803 Laborie's Super Market, Stage, Tuesday Vincent Vastola 903 community 1951-1999 Barataria 100 percent Morning, Dollar Tree, Aaron Rents, CiCi's Marrero Land and shopping Blvd. 1978 Pizza, It's Fashion, The Athlete's Foot, Improvement center Marrero America's Best Contacts Association, Ltd. Marrero Northlake Shopping 163,000 Fresh Market, Office Depot, Stage, Gordons John Meltzer 860 community Center 94 percent Meltzer Properties 1816-1896 N. 1981 Metairie Causeway Approach Mandeville Gentilly Shopping 160,000 Family Dollar, Cash America, Auto Zone, Judy Slack 590 strip center Center 60 percent Capital One, Rainbow, Sherwin William, Simply NAI Latter & Blum Gentilly Boulevard at 1964 Fashions, Radio Shack, Sally's Beauty Supply Inc. Realtors Elysian Fields Avenue New Orleans New Orleans Midtown Square 152,212 Office Depot, Hobby Lobby, Stage Will Place NA power strip Shopping Center 85 percent Robert M. Israel 1555 Gause Blvd. 1997 Lauricella & Slidell Associates Harahan Riverside Market 146,000 Winn-Dixie, Steinmart, Walgreens, Petco, Pier Arnold Cooper NA regional Shopping Center 97 percent 1, Kinko DBIC Property 5300 Tchoupitoulas St. 1988 Management New Orleans Stirling Properties New Orleans New Orleans Riverside Market 146,000 Winn-Dixie, Walgreens, Pier 1 Imports, Stein Barrett Cooper 400 neighborhood Shopping Center 92 percent Mart, Petco Stirling Properties center 5300 Tchoupitoulas St. 1988 Covington New Orleans West Lakeshore 145,000 Robert Fresh Market, Chateau Cafe, Fidelity R. Tom Lupo 400 commercial Shopping Center 98 percent Homestead 137-149 Robert E. Lee renovated 2006 Blvd. Lakefront Plaza 190 Shopping 115,135 Big Lots, Rite Aid, Tuesday Morning, Family Chris Abadie NA regional Center 97 percent Dollar, Rent-A-Center, Quiznos, Popeyes Stirling Properties Gause Boulevard and 1974 Covington Highway 11 Slidell 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.

Real Estate Trends Fall 2009 41A RE_trends2009 11/2/09 11:17 AM Page 42

Shopping centers (ranked by total rentable square feet)

Total rentable Shopping center square feet Address Percent occupied Leasing agent Parking Type of Area Year completed Major tenants Leasing company spaces center Lapalco Village 111,221 Winn-Dixie, Family Dollar, Cash America, Soul Judy Slack NA community Shopping Center 96 percent Train NAI Latter & Blum, 5901-5999 Lapalco 1986 Inc. Realtors Blvd. New Orleans Marrero Belle Meade 108,230 Breaux Mart, AT&T, Hallmart, Cash Advance Andrea Arons 576 shopping 605 Lapalco Blvd. 72 percent Huseman center Gretna 1981 Corporate Realty Inc. New Orleans Westwood Shopping 100,575 Winn-Dixie, It's Fashion Metro, Rite-Aid, Dollar Vincent Vastola 391 community Center 98 percent General, The Athlete's Foot, Radio Shack, Marrero Land and 1020-1082 Westbank 1974 Subway, H&R Block Improvement Expressway Association Ltd. Westwego Marrero M.A. Green Shopping 100,423 O'Reilly Auto Parts, Metairie Bank, Cash Judy Slack NA community Center 100 percent America, Family Dollar, Rose Dieu Restaurant NAI Latter & Blum, 7801-7951 Airline Drive 1967 Inc. Realtors Metairie New Orleans Airline Park Shopping 100,000 Auto Zone, Save A Lot, Family Dollar Will Place NA NA Center 95 percent Robert M. Israel 6500-6600 Airline Drive 1962 Lauricella & Metairie Associates Manhattan Shopping 93,000 Marshalls, Office Depot Will Place NA NA Center 80 percent Robert M. Israel 1500 Westbank 2008 Expressway Harvey Pontchartrain Place 91,288 H&R Block, Invisalign, Kid to Kid, Gallerie Judy Slack NA community Shopping Center NA Severn, Aspen Clinic, Penedo & Swiber, NAI Latter & Blum 3501 Severn Ave. 1978 Eyemasters, Prudential Real Estate, Jazz Salon Inc. Realtors Metairie & Boutique, Planet Beach, Mandarin House New Orleans Bullard Square 90,000 Beauty Depot, Jackson Hewitt Tax Service Wade T. Verges 400 neighbor Shopping Center 20 percent 7500 Bullard LLC 7500 Bullard Ave. 2004/renovated New Orleans Eastern New Orleans 2008 Oak Park Shopping 84,000 Dollar General, Adrian's Bakery, Laundry Oak Park Shopping 326 community Center 45 percent Basket, American Federation Teachers/United Center 4700 Paris Ave. 1957/Katrina Teachers of New Orleans, Angela's Dry New Orleans New Orleans renovations not Cleaning, Great Wok, Gentilly Senior Center, complete Ringlett's Hair Salon, Subway Old Metairie Village 83,429 Blockbuster, CC's Coffee, Planet Beach, Amy Farnsworth NA NA Shopping Center 95 percent Subway, Burger King, Massage Envy, TCBY Stirling Properties 701 Metairie Road 1987 Covington Metairie Woodmere Square 79,740 NA John Meltzer NA NA Shopping Center 100 percent Meltzer Properties 3407 Lapalco Blvd. 1985 Metairie Harvey Donna Villa Shopping 74,505 O'Reilly's, Home Decor, CitiTrends Joanne Hughes 350 shopping Center 100 percent Property center 9601 Chef Menteur 1960 Management Group Highway New Orleans Eastern New Orleans Holiday Square 73,000 Rouses Grocery, Burks, Sewerage and Water Arnold Cooper NA neighborhood Shopping Center 93 percent Board of New Orleans Barrett Cooper 4001 General Degaulle 1999 DBIC Property New Orleans Management Stirling Properties New Orleans New Orleans The Village Center 70,000 Harry's Ace, Auto Zone, Family Dollar, Subway Jack Stumpf 180 strip 4800-4860 General 75 percent Jack Stumpf & Meyer Ave. 1970 Associates New Orleans Harvey Barlon Plaza 67,415 Walgreens, Big Lots, Dollar General Eben T. Watkins 316 neighborhood Shopping Center 100 percent Eben Watkins & 7101 Veterans 1961 Associates Memorial Blvd. New Orleans Metairie

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Shopping centers (ranked by total rentable square feet)

Total rentable Shopping center square feet Address Percent occupied Leasing agent Parking Type of Area Year completed Major tenants Leasing company spaces center Chateau Village 65,000 CVS, Regions, First NBC Denise Gaines 800 retail strip 3501 Chateau Blvd. 75 percent Praveen Kailas Kenner 2008-09 partial Tower Realty demo of existing New Orleans Oakridge Place 60,722 Pier 1 Imports, Langenstein's Grocery, Rite Aid, Amy Farnsworth NA community Shopping Center 100 percent Capital One, Hallmark, PJ's Coffee Stirling Properties 800 Metairie Road 1978/renovated Covington Metairie 1994 Read Row Shopping 56,612 Orleans Furniture Joanne Hughes 150 shopping Center 80 percent Property center 7040-7094 Read Blvd. 1980 Management Group Eastern New Orleans New Orleans Jackson Brewerey 54,000 Chico's, Cajun Clothing, Pat O's on the River, NA NA Millhouse 90 percent Riverview Room 600 Decatur St. 1996 French Quarter Independence Mall 52,336 Diagnostic Imaging Services, Chili's Grill & Bar, Stephanie Hilferty 350 NA 4241 Veterans Blvd. 89 percent Sake Cafe, Marble Slab SRSA Commercial Metairie 1983 Real Estate Inc. Metairie Festival Plaza 50,000 NA Wade T. Verges 350 neighborhood 8700 Lake Forest Blvd. NA Verges Properties shopping Eastern New Orleans 1990/renovation New Orleans center incomplete Hollycrest Plaza Inc. 50,000 The Finish Line, Bike Zone, Four Seasons Susie Bishop 220 shopping/ 600 North Highway 190, 90 percent restaurant retail Suite 212 1985 Covington Chateau Commons 49,745 Walgreens, Starbucks Jeff Moore NA retail Shopping Center 95 percent Realm Realty 819 W. Esplanade 2003 Kenner Lapalco Square 48,000 Blockbuster, Party City Jack Stumpf 240 neighborhood 1545 Lapalco Blvd. 84 percent Jack Stumpf & strip Harvey 1984 Associates Inc. Harvey Bullard Corporate 40,000 Davita Dialysis, Coffee Shop, Yay's Cleaners Wade T. Verges 300 neighborhood Center 70 percent Verges Properties center 5555 Bullard 2004/renovated New Orleans Eastern New Orleans 2006 Slidell Square 36,700 BFL Joanne Hughes 175 shopping 2131-2165 Gause Blvd. 93 percent Property center St. Tammany 1980 Management Group New Orleans The Marketplace at 35,000 Hard Rock Cafe, Landry's Seafood Restaurant, Arnold Cooper NA NA Jackson Brewery 100 percent Urban Outfitters, French Connection, Peaches DBIC Property 400 N. Peters St. 1878 Music, WISH Management Inc. French Quarter New Orleans Avondale Square 32,000 CVS, Family Dollar Arnold Cooper NA NA 2800 Highway 90 50 percent DBIC Property Avondale 1988 Management New Orleans Zuppardo Center 30,000 Bon Marche' Furniture, Major Video Jack Stumpf 150 strip 400 Lapalco Blvd. 100 percent Jack Stumpf & Gretna 1980 Associates Inc. Harvey Robert E. Smith 30,000 West Marine, Lakeview Grocery on Harrison R. Tom Lupo 80 commercial Shopping Center 100 percent 801-833 Harrison Ave. renovated 2006 Lakeview Borders Center 29,736 Borders Bookstore Ronald Robert 138 retail and 3131 Veterans Blvd. 85 percent Rauber office Metairie 1997 Select Properties Ltd. Realty Metairie Belle Terre Shopping 26,000 CarQuest Parts Joe Maerke 150 strip Center 72 percent Jack Stumpf & 1152-1180 Terry 1985 Associates Parkway Harvey Terrytown 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.

Real Estate Trends Fall 2009 43A RE_trends2009 11/2/09 11:17 AM Page 44

Shopping centers (ranked by total rentable square feet)

Total rentable Shopping center square feet Address Percent occupied Leasing agent Parking Type of Area Year completed Major tenants Leasing company spaces center Chalmette Shopping 25,480 Dollar Tree Joanne Hughes 75 shopping Center 70 percent Property center 1918 E. Judge Perez 1977 Management Group Drive New Orleans St. Bernard Esplanade Plaza 24,240 CVS Pharmacy, Taqueria Corona, Jackson Judy Slack NA community 3535 Severn 100 percent Hewitt, Jenny Craig Weight Loss, Framin Place NAI Latter & Blum Metairie 1978 & Gallery, Cookie Bouquet, Wok to Go Inc. Realtors New Orleans

Market Square 24,000 Jackson Hewitt Taxes, Samie's Chicken, Wade T. Verges 80 neighborhood 9301 Lake Forest Blvd. 50 percent Cleaners, Uniform Shop, Nail Gallery Verges Properties shopping Eastern New Orleans 2006 New Orleans center

Terry Parkway 18,000 NA John Meltzer NA strip Shopping Center 94 percent Meltzer Properties 632-654 Terry Parkway 1980 Metairie Terrytown

Crossroads 17,000 NA Joseph W. Carroll II NA NA 1705 Highway 59 80 percent Latter & Blum Inc. Mandeville NA Mandeville

Manhattan Shopping 17,000 Alltel, Singer Kitchen Bobby Hebert 85 local strip Center 86 percent Jack Stumpf & 1818 Manhattan Blvd. 2004 Associates Inc. Harvey Harvey

Oak Cove Center 17,000 Dollar General, Anytime Fitness center is owner NA NA 3176 Barataria Blvd. 100 percent managed after Marrero 2005 recent sale

Belle Barataria Centre 14,000 Shane's Rib Shack, Sprint, Quizno's Vincent Vastola 88 strip 1855 Barataria Blvd. 80 percent Marrero Land and Marrero 2005 Improvement Association Ltd. Marrero Frenchman's Creek 13,397 NA Cassie Goldsboro 46 NA Shopping Center 100 percent Susan Wallace 2221 Trancontinental 1978/2009 Preferred Realty Inc. Metairie renovated Metairie

Willow Tree 12,000 Hill Brothers Construction Co., Dress Shop, Wade T. Verges 50 neighborhood 7701 Dwyer 40 percent Church Verges Properties shopping Eastern New Orleans 1985/renovated New Orleans center 2008

Henna Plaza 11,500 Snap Fitness, Vermillion Wireless Barry Burkart 55 strip 1401 Westbank 85 percent Jack Stumpf & Expressway 2006 Associates Westwego Harvey

Alvena Smith Lupo 11,206 Lakeview Harbor, Young's Cleaners, Tastee R. Tom Lupo 25 commercial Shopping Center 100 percent Restaurant strip center 901-911 Harrison Ave. renovated 2006 Lakeview

Lapalco Shopping 11,000 Leslie Pool Supply Cybble Bucceri 55 strip center Center 100 percent Jack Stumpf & 320 Lapalco Blvd. 1984 Associates Inc. Gretna Harvey

Millstream Shopping 10,006 NA Cassie Goldsboro 50 NA Center 100 percent Susan Wallace 3440 Division St. 1988/2000 Preferred Realty Inc. Metairie Metairie

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Shopping centers (ranked by total rentable square feet)

Total rentable Shopping center square feet Address Percent occupied Leasing agent Parking Type of Area Year completed Major tenants Leasing company spaces center Williams Lupo 9,149 Lago, Coral Reef Pet Shop, Avenue Art R. Tom Lupo 40 commercial Shopping Center 100 percent strip center 900-910 Harrison Ave. renovated 2006 Lakeview Whitewater Creek 8,331 NA Cassie Goldsboro 36 NA 6824 Veterans Blvd. 100 percent Susan Wallace Metairie 1979 Preferred Realty Inc. Metairie Grove I 7,645 NA Cassie Goldsboro 38 NA 4917 W. Napoleon Ave. 100 percent Susan Wallace Metairie renovated 2009 Preferred Realty Metairie Woodland Center 4,500 Dr. Hebert Marcia D'Amico NA neighborhood 4600 Highway 22 91 percent Mike D'Amico Mandeville 1985 Property One Inc. Mandeville Grove II 2,002 NA Cassie Goldsboro 10 NA 3399 W. Esplanade 0 percent Susan Wallace Metairie NA Preferred Realty Metairie 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)

Total square footage for which the leasing Planned Rent range Rental contact Property name company has square Total Office Service per square Company Address responsibility footage acreage available center Warehouse foot Phone James Business Park 921,887 2,875,000 200 Y Y Y $5.10-$17.50 Daniel P. Poulin 150 James Drive E., Sealy and Co. Suite 140 St. Rose St. Rose 463-5600 Former Delchamps 706,000 WND 60 Y N Y $4-$4.50 Ben Derbes Warehouse Max J. Derbes Inc. 407 Pride Drive New Orleans Hammond Northpark Business 600,000 WND WND Y Y N WND Barry Spizer Park Lee M. de le 109 Northpark Blvd. Houssaye Covington SRSA Commercial Real Estate ERA Stirling Properties Inc. Metairie 831-2363 (985) 898-2022 Riverbend Business 592,000 WND WND Y Y Y $3.85-$10 Trimble Green Park net NAI/Latter & Blum Riverbend Boulevard Inc. St. Rose New Orleans 669-8722 Labarre Business Park 313,000 WND WND N N Y $5.40 square Gerard E. Henry 901 Labarre Road foot net Max J. Derbes Inc. Metairie New Orleans 733-5985

Real Estate Trends Fall 2009 45A RE_trends2009 11/2/09 11:17 AM Page 46

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

Rent Total square footage range for which the leasing Planned per Rental contact Property name company has square Total Office Service square Company Address responsibility footage acreage available center Warehouse foot Phone Alamosa Business Park 300,000 150,000 20 Y Y Y $10 and Robert Tufts 68425 Highway 59 up Raymond C. Fink III North Shore KW Commercial Mandeville (985) 727-2177

Rathborne Industrial 240,000 0 40 Y N Y WND Annette McDow Park Rathborne Properties P.O. Box 157 LLC Harvey Harvey, LA 504-368-6355

New Orleans Regional 130,000 400,000 7,000 Y N Y contact Zandra Washington Business Park office Roy N. Mack Sr. 13801 Old Gentilly Road 254-4603 New Orleans

Marrero Industrial 125,000 WND WND Y N Y WND Vincent Vastola Subdivision Marrero Land and 3400 block of Westbank Improvement Expressway Association Ltd. West Bank Marrero 341-1635 The Preserve 80,000 80,000 7.5 Y N N $19 Rich Mauti Waterfront Office Park Re/Max Commercial Helenbirg Road Brokers Inc. Covington Mandeville (985) 727-0001

Plantation Business 77,311 WND WND N Y Y $7-$9 Greg Riera Campus Jones Lang LaSalle 104 Campus Drive E. New Orleans Destrehan 585-2670

James Business Park 36,250 1,500,000 275 Y Y Y $6-$16.50 Charles M. Mullin 916 W. Airline Highway The Mullin Co. Inc. Kenner/St. Charles St. Rose 465-9345

Holiday Office Park 7,200 9,600 5 Y N N $17-$19 David Waltemath 3520 Holiday Drive Classic Properties Algiers Management New Orleans 364-2350

Orchard Office Park 3,522 WND WND Y N N WND Barrett Cooper Building D Stirling Properties 46 Louis Prima Drive New Orleans Covington (985) 898-2022

Orchard Office Park 3,200 WND WND Y WND N WND Barrett Cooper Building G Stirling Properties 40 Louis Prima Drive Covington Covington (985) 898-2022

Columbia Landing 2,000 WND WND Y N N $18 Joseph W. Carroll II Condos Unit 3 Latter & Blum Inc. 616 Rutland St. Mandeville Covington (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 Orleans CityBusiness, 111 Veterans Blvd., Suite 1440, Metairie 70005

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Warehouse space (ranked by total square feet)

Property name Sale price Address Total square feet Rail service Rent range per square Leasing agent Area Percent occupied Loading dock foot Leasing company Delchamps Facility 665,867 Y not for sale Ben Derbes 407 Pride Blvd. 100 percent Y not for rent Max J. Derbes Inc. Hammond New Orleans Riverbend Distribution Center I 367,370 N NA Trimble Green 100 Riverbend Blvd. 56 percent Y $3.85-$4.15 NAI/Latter & Blum Inc. St. Rose New Orleans 1420 Sam's Ave. 355,350 N not for sale David B. Quinn 1420 Sam's Ave 100 percent Y not for rent Max J. Derbes Inc. Elmwood Airline Highway Commerce Center 275,000 Y NA Kevin Kelly 10057 Airline Drive 50 percent Y $5.50 gross St. Rose 6200 Humphreys St. 267,500 N NA Al Davis 6200 Humphreys St. 72 percent Y $3.50 Duff Friend Harahan Latter & Blum New Orleans Office Suites at 1050 (former 259,251 N NA Edward Halpern Louisiana Coca-Cola Bottling Co.) 75 percent Y $3-$6 1050 S. Jefferson Davis Parkway Mid-City James Distribution Center I 253,614 N NA Jennifer A. Lee 310 James Drive 100 percent Y $5.50-$6.50 Sealy and Co. St. Rose St. Rose River Road Commerce Center 242,400 Y $12 million Kevin Kelly 640 River Road 67 percent Y $5.50 gross Westwego 800 Atlantic St. 240,000 N NA Kevin Kelly 800 Atlantic St. 67 percent Y $5 gross Algiers 5200 Coffee Drive 225,000 Y $12 million Kevin Kelly 5200 Coffee Drive 100 percent Y $6 gross Uptown 6040 Beven St. 213,600 N $14,000,000 Kevin Kelly 6040 Beven St. 60 percent Y $7 gross Elmwood Labarre Business Center 210,000 N not for sale Gerard E. Henry 901 Labarre Road 71 percent Y $5.40 net Max J. Derbes Inc. Labarre Business Park New Orleans 600 St. George Ave. 180,025 N not for sale David B. Quinn 600 St. George Ave. 68 percent Y $2.50-$3 net Max J.Derbes Inc. Elmwood Business Park New Orleans Riverbend Distribution Center II 180,000 N NA Trimble Green 101 Delta Drive 100 percent Y $4.15-$8 NAI/Latter & Blum Inc. St. Rose New Orleans Building 7 177,600 N NA Charles M. Mullin 200 Crofton Road 77 percent Y $3.95 The Mullin Co. Inc. Kenner St. Rose Michoud Boulevard Commerce 176,000 N NA Kevin Kelly Center 100 percent Y $6 gross 4200 Michoud Blvd. New Orleans Edwards Distribution Center 160,593 N NA Gerard Henry 1300 Edwards Ave. 95 percent Y $4-$5 Max Derbes Elmwood New Orleans K&B Elmwood Distribution Center 159,831 N not for sale Gerard E. Henry 1300 Edwards Ave. 100 percent Y $4.50 net Max J. Derbes Inc. Elmwood Business Park New Orleans 5301 Jefferson Highway 137,000 N not for sale David B. Quinn 5301 Jefferson Highway 100 percent Y not for rent Max J. Derbes Inc. Elmwood Business Park New Orleans Parkway Center II 136,000 N NA Trimble Green 700 Elmwood Park Blvd. 100 percent Y $4-$4.50 NAI/Latter & Blum Inc. Elmwood Business Park New Orleans Industry Road Distribution Center 116,320 N not for sale David B. Quinn 940 Industry Road 80 percent Y $3.25-$3.75 net Max J. Derbes Inc. Kenner New Orleans 7400 Townsend Place 112,500 N NA Duff Friend 7400 Townsend Place 100 percent Y $2.50-$2.75 Latter & Blum Eastern New Orleans New Orleans 132-34 Harbor Circle 108,043 N NA Duff Friend 132-34 Harbor Circle 40 percent Y $2.50-$2.75 Latter & Blum Eastern New Orleans New Orleans 1008 Elmwood Park 104,000 N $3.2 million Robert Bridgewater 1008 Elmwood Park Blvd. 0 percent Y $5.50-$7.50 Bridgewater Properties Harahan New 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 on company letterhead to Research, New Orleans CityBusiness, 111 Veterans Blvd., Suite 1440, Metairie 70005

Real Estate Trends Fall 2009 47A RE_trends2009 11/2/09 11:17 AM Page 48

Warehouse space (ranked by total square feet)

Property name Sale price Address Total square feet Rail service Rent range per square Leasing agent Area Percent occupied Loading dock foot Leasing company 2601-2603 L&A Road 103,208 N not for sale Gerard E. Henry 2601 L&A Road 64 percent Y $5.50 Max J. Derbes Inc. Metairie New Orleans Labarre Business Center 101,802 N NA Gerard Henry 2601 L&A Road 65 percent Y 6 Max Derbes Labarre New Orlens 5042 Bloomfield St. 100,000 N not for sale David B. Quinn 5042 Bloomfield St. 100 percent Y not for rent Max J. Derbes Inc. Elmwood Business Park New Orleans 61450 Lemieux Blvd. 90,000 N NA Joseph W. Carroll II 61450 Lemieux Blvd. 0 percent Y $16,700 Latter & Blum Inc. Big Branch Mandeville Brookhollow Center 89,335 N NA Robert Bridgewater 5800 Jefferson Highway 100 percent Y NA Bridgewater Properties Elmwood New Orleans Brookhollow/River Road 85,083 N not for sale David B. Quinn 5801 River Road 90 percent Y $5.75 Max J. Derbes Inc. Elmwood Business Park New Orleans Halpern Warehouse 82,500 N NA Edward Halpern 1148 South Peters St. 0 percent Y NA SJD-CC LLC Warehouse District New Orleans 803 Jefferson Highway 78,450 N not for sale Gerard E. Henry 803 Jefferson Highway 100 percent Y not for rent Max J. Derbes Inc. Jefferson New Orleans SJD-CC LLC 69,986 N NA Edward Halpern 900 Jefferson Davis Parkway 100 percent Y NA Mid-City 415 Edwards Ave. 65,780 N not for sale Keith G. Henry 415 Edwards Ave. 100 percent Y not for rent Max J. Derbes Inc. Jefferson New Orleans Parkway Center I 65,504 N NA Trimble Green 550 Elmwwod Park Blvd. / 5400 93 percent N $4-$9 NAI/Latter & Blum Inc. Pepsi St. New Orleans Elmwood Business Park Cypress Point Business Center 61,444 N NA Trimble Green 660-668 Distributors Row 96 percent Y $4-$9.50 NAI/Latter & Blum Inc. Elmwood Business Park New Orleans Riverbend Service Center 44,273 N NA Trimble Green 1000 Riverbend Blvd. 87 percent Y $8-$10 NAI/Latter & Blum Inc. St. Rose New Orleans 246 Harbor Circle 44,000 N not for sale David B. Quinn 246 Harbor Circle 100 percent Y not for rent Max J. Derbes Inc. Lakratt Business Park New Orleans 924 Kenner Ave. 30,000 N NA Rich Mauti 924 Kenner Ave. 20 percent Y $4.50 to $7.50 Mauti Meredith Scoggin Properties NA Mandeville 3030 N. Arnoult 22,040 N $995,000 Skip Weber 3030 N. Arnoult 0 percent Y $2.70 NAI/Latter & Blum Inc. Realtors Metairie New Orleans 1021 Al Davis Road 21,000 N not for sale Gerard E. Henry 1021 Al Davis Road 0 percent N $6.95 net Max J. Derbes Inc. Elmwood Business Park New Orleans Airport Road Warehouse 20,000 N $1.67 million with Joe Kramer 43254 S. Airport Road 0 percent N adjoining 1.5 acres David Spear Hammond $6.75 Stirling Properties Covington Boyce 20,000 Y NA Praveen Kailas 166 Boyce Road 100 percent Y $4.50 Denise Gaines Harahan Tower Realty Metairie Tifton 18,000 NA NA Denise Gaines 1100 24th St. 90 percent NA $6 Praveen Kailas Kenner Tower Realty New Orleans Skyway Park 14,648 N NA Cassie Goldsboro 30 Crofton Road 100 percent Y $4.71 Preferred Realty Inc. NA Metairie 10389 Airline Highway 14,400 N 1,495,000 Charles M. Mullin 10389 Airline Highway 0 percent Y NA The Mullin Co. Inc. Kenner/St. Charles St. Rose The Edson Building 13,222 N NA Joseph W. Carroll II 21357 Marion Lane 52 percent N $10-$14 Latter & Blum Inc. Mandeville 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 on company letterhead to Research, New Orleans CityBusiness, 111 Veterans Blvd., Suite 1440, Metairie 70005

48A New Orleans CityBusiness RE_trends09_COVERS 11/2/09 10:35 AM Page 993

Warehouse space (ranked by total square feet)

Property name Sale price Address Total square feet Rail service Rent range per square Leasing agent Area Percent occupied Loading dock foot Leasing company 2605 Delaware 12,681 N $499,000 Skip Weber 2605 Delaware Ave. 100 percent Y $0 NAI/Latter & Blum Inc. Realtors Kenner New Orleans 38189 Commercial Court 12,000 N $732,000 Skip Weber 38189 Commercial Court 0 percent N $5 NAI/Latter & Blum Inc. Realtors Slidell New Orleans Pelican Service Center 10,500 N not for sale Ben Derbes 1401 Distributors Row 91 percent N $10.50 Max J. Derbes Inc. Elmwood Business Park New Orleans 1317 Carroll 10,000 N $0 Skip Weber 1317 Carroll St. 50 percent N $5.75 NAI/Latter & Blum Inc. Realtors Kenner New Orleans 38183 Commercial Court 9,000 N $549,000 Skip Weber 38183 Commercial Court 0 percent N $7.87 NAI/Latter & Blum Inc. Realtors Slidell New Orleans 3909 Tournefort St. 7,000 N $350,000 Skip Weber 3909 Tournefort St. 0 percent N $6 NAI/Latter & Blum Inc. Realtors Chalmette New Orleans Warehouse E 4,900 N NA Charles M. Mullin 802 Short St. 0 percent Y $3.80 The Mullin Co. Inc. Kenner St. Rose 212 23rd St. 3,805 N $1,685 per month Cassie Goldsboro 212 23rd St. 0 percent N $5.31 Susan Wallace Kenner Preferred Realty Metairie 811 Ramon St. 3,000 N NA Joseph W. Carroll II 811 Ramon St. 100 percent N NA Latter & Blum Inc. Mandeville Mandeville 56742 Dwyer 2,000 N $0 Skip Weber 56742 Dwyer Ave. 0 percent N $10.20 NAI/Latter & Blum Inc. Realtors Slidell New 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 on company letterhead to Research, New Orleans CityBusiness, 111 Veterans Blvd., Suite 1440, Metairie 70005

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