Real Estate Trends 2010

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Real Estate Trends 2010

The data published in Real Estate Trends inside: is compiled every six months by the CityBusiness research department. area coverage map lists Published by the NOPG LLC Central Business District ...... 2 ...... 4 Business parks ...... 34 111 Veterans Memorial Blvd., Suite 1440, Metairie, La. 70005 Eastern New Orleans Commercial leasing companies ...... 36 504-834-9292; Fax: 504-837-2258. and Chalmette ...... 13 ...... 15 Publisher and president: D. Mark Singletary Commercial property managers ...... 38 Associate Publisher: Lisa Blossman Editor: Greg LaRose Kenner and St. Charles Parish . . . .17 ...... 16 Flex space ...... 41 News Editor: Christian Moises Associate Editor: Jenny Peterson Metairie and East Jefferson ...... 18 ...... 19 Shopping centers ...... 43 Art Director: Alex Borges Market Researcher: Jennifer Nall North Shore ...... 26 ...... 27 Account Executives: Liz Baldini, Monique Brignac, Warehouse space ...... 47 Jeanne Farrell, Cassie Foreman, Coco Evans Judd West Bank ...... 31 ...... 32 Production Manager: Julie Bernard

Real Estate Trends 2010 Central Business District By Autumn C. Giusti Contributing Writer [email protected]

etween the new Benson Tower, the planned Bdowntown medical district and a slew of Photo by Tracie Morris Schaefer other Class A spaces coming open, federal and state employees are set to flood the Central Business District in 2011, commercial real estate experts say. “Our market is increasingly becoming government- and health care-centric, so you’re going to have more clients like that,” said Mark Inman, vice president of Coldwell Banker Commercial TEC in New Orleans. Government tenants are filling spots that would otherwise be occupied by privately owned or publicly traded firms, he said. “Class A just offers things they’re not getting in their federal buildings,” Inman said. “They want good work conditions for their employees.” In what looks to be the year’s largest transaction in the area, Benson Tower, formerly Dominion Tower, has about 350,000 square feet of space leased to state employees. The leasing Coldwell Banker Commercial TEC Vice President Mark Inman says government tenants are increasingly leas- transaction by Corporate Realty accounts for ing Class A space in the Central Business District. about three-fourths of the building’s space.

2A New Orleans CityBusiness • November 26, 2010 RE_trends2010_retrends2008 11/10/10 12:31 PM Page 3

Saints owner Tom Benson last year invested $12.5 million to prepare the office space for the state, plus another $21.7 million repairing the storm-damaged property. Government employees are reshuffling office A Premier Location space elsewhere in the CBD, too, said Bruce Sossaman, leasing director for Equity Office is Just the Beginning Properties. The Social Security Administration moved out of its federal facility and into an entire floor of 400 Poydras St. And in early 2011, the federal General Services Administration is expected to lease 60,000 square feet of space at 650 Poydras St. after vacating its space at the Hale Boggs Federal Building. At the end of the third quarter, the market for Energy Centre Class A office space in the CBD was 89 percent New Orleans, Louisiana leased and the Class B market was 82 percent leased, Sossaman said. Class A leasing is down 2 percent from the same time last year, while Class B is up about 1 percent. “At 89 percent, that’s one of the better per- This premier address in the forming markets in the country when you com- heart of New Orleans’ CBD is pare it to cities like Atlanta, Houston and Dallas. We still have one of the highest occupancy rates an ideal location for business. in the country,” he said. Sossaman expects Class A occupancy to sta- bilize at 85 percent to 86 percent during the Energy Centre features a next year. With credit and financing hard to come by, state-of-the-art design with there have been few downtown office building sales. a superior technological Expect that to change, Sossaman said. In May, Judah Hertz, principal of the Hertz operating system, and is in Investment Group in Santa Monica, Calif., put Poydras Tower, at 650 Poydras St., up for sale. walking distance to the city’s And in October, Chevron Corp. sold its 380,000- square-foot former headquarters on Gravier Street most sought after destinations. to Kingfish Development for $6 million. Sossaman expects a few more buildings to go up for sale in the next six months. Bryan Burns III, senior vice president for Transwestern, a private national commercial real estate company, uses the term “positive momen- tum” to describe the CBD office market. “There are so many components of the puz- zle that have been coming into place over the Discover past couple of years that I think there’s a lot of optimism associated with the CBD office mar- Energy Centre. ket,” he said. Burns points to the $275 million redevelopment of the Hyatt Regency. He also touts the Call Meg Carrone redevelopment of the Veterans Affairs hospital and the adjacent LSU teaching hospital as a pos- at Corporate Realty, sible game changer, representing a combined 504.569.2052 investment of $2.25 billion. And earlier this year, BP leased 60,000 square feet in the 1250 Poydras building after the Gulf of Mexico oil spill, Sossaman said. “As the BP litigation gets closer to going to trial, you could see some law firms coming in to lease space on a temporary basis, maybe six months to a year,” he said.• © 2009 Behringer Harvard

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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. Place St. Charles’ retail section contains a 10 station food court, two restaurants, UPS Store, G Bass Men’s Clothing, Terrazu Coffee Shop, AT&T Wireless Store, art gallery, cigar shop, sundry shop, barber shop, hair and nail salon, a jewelry shop and connection to the Hampton Inn. Complimentary concierge service is exclusively offered to our tenants.

Energy Centre 761,500 91 $17.50 NA 1984/2008 39 20,911 80,554 Meg Carrone 3 1100 Poydras percent Corporate Realty St. New Orleans 569-2052

Energy Centre, owned and operated by IPC New Orleans I, LLC, 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 constructed of a highly efficient, reflective bronze glass which gives a subtle complement to the hues of the polished 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 90 $17.50 NA 1980/2007 28 36,595 70,214 Greg S. Riera 4 Life Center percent Jones Lang 601 Poydras St. LaSalle Americas Inc. New Orleans 585-2678 NA=not 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.

4A New Orleans CityBusiness • November 26, 2010 RE_trends2010_retrends2008 11/10/10 12:31 PM Page 5

All Roads Lead to One Canal Place Office Tower. Unparalleled CBD leasing opportunities for top-flight corporations or a rising-star business; 1,000 – 80,000 sq. ft. of efficiently designed contiguous space; unmatched amenities; convenient, easily accessible, riverfront location near the French Quarter.

400 Poydras 619,714 80 $17.50 92,957 1983 32 65,000 125,489 Bryan Burns 6 Tower percent percent Kyle Stephenson 400 Poydras St. Cres Gardner Transwestern New Orleans 799-3124 First Bank & 545,157 82 $18.50 8,177 1987 36 42,000 81,960 Bryan Burns 7 Trust Tower percent percent Kyle Stephenson 909 Poydras St. Cres Gardner Transwestern New Orleans 528-9910 1515 Poydras 529,474 78 $17.50 NA 1983/2008 27 22,679 112,416 Greg S. Riera 8 Building percent Jones Lang 1515 Poydras LaSalle Americas St. Inc. New Orleans 585-2678

is a 27 story Class A office tower featuring a dramatic main lobby and covered courtyard four stories high. Landmark presence across from the Superdome offering unsurpassed access to I-10. Over 500 spaces in the building and 700 auxiliary spaces allows for a suburban parking ratio in the CBD. Shuttle Van, Restaurants, Conference Room Suites of various sizes are ready for occupancy.

NA=not 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.

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Benson Tower 486,951 74 $18 15 2010 26 125,000 immediate Colleen Kuebel 12 1450 Poydras percent percent Berthelot St. Corporate Realty Inc. New Orleans 581-5005 Benson Tower, located at Champions Square and the Superdome, offers the newest and only LEED Certified, multi tenant, office building in New Orleans. In addition to offering all first generation office space that will be designed and built to each tenants specifications. This Class “A” office tower boasts a suburban parking ratio in a CBD setting. Convenient to all parts of the city this “new” office tower offers stable, committed and local ownership from the Benson family. The top 5 floors of the building are available. An experienced management team assures tenant satisfaction, safety and quality of life as its highest priority.

1555 Poydras 467,671 95 $17.50 NA 1982/2008 22 16,685 25,104 Greg S. Riera 13 Building percent Jones Lang 1555 Poydras 467,671 95 $17.50 NA 1982/2008 22 16,685 25,104 LaSalleGreg S. AmericasRiera 1555 Poydras Jones Lang 13 St.Building percent Inc. 1555 Poydras NewLaSalle Orleans Americas St. 585-2678Inc. New Orleans 585-2678 is a 22 story Class A office tower featuring striking silver sawtooth bay windows that double the views. Landmark presence across from the Superdome offering unsurpassed access to I-10. Over 500 spaces in the building and 700 auxiliary spaces allows for a suburban parking ratio in the CBD. Shuttle Van, Restaurant, Conference Room, Sundry Shop Suites of various sizes are ready for occupancy.

6A New Orleans CityBusiness • November 26, 2010 RE_trends2010_retrends2008 11/10/10 12:31 PM Page 7

Central Business District (ranked by total leaseable square feet) Largest Total Quoted block of Leasing agent leaseable rent space Leasing 2010 Building name square Percent rate Common Year built/ available company Rank Address feet occupied high space renovated Floors (sq. feet) Availability Phone Poydras Center 453,255 94 $17.50 67,988 1983 28 7,009 28,007 Bryan Burns 14 650 Poydras St. percent percent Cres Gardner Kyle Stevenson Transwestern New Orleans 799-3124 1250 Poydras 422,890 77 $19 15 1980/2002 24 57,000 immediate Bill Moody 15 Building percent percent Poydras 1250 Poydras St. Properties New Orleans 522-2535 225 Baronne 422,037 NA NA NA 1960/1988 NA NA NA Sandra Corrigan 16 Building Regis Realty I 225 Baronne St. New Orleans NA 935 Gravier 380,000 0 percent $12 NA 1983 21 380,000 380,000 Louis Vergona 17 Place Transwestern 935 Gravier St. New Orleans NA Amoco Building 378,895 92 $14.75 15 1977/1997 21 9,500 32,000 Sandra Corrigan 18 1340 Poydras St. percent percent Regis Realty I New Orleans 566-1400 Whitney 351,782 97 $14.75 15 1910/1996 14 2,000 immediate Duff Friend 19 National Bank percent percent Latter & Blum Building New Orleans 228 St. Charles NA Ave. 701 Loyola Ave. 286,560 65 $11.50 15 1959/1985 14 76,000 immediate Mark E. Inman 20 701 Loyola Ave. percent percent David Wright Mac McMillan Coldwell Banker Commercial TEC Realtors New Orleans 566-1777 URS Building 115,000 87 $13.50 NA 1926/2005 10 14,711 14,711 Bobby Talbot 21 600 Carondelet percent Talbot Realty St. Group New Orleans NA 525 St. Charles 100,000 93 $18 0 percent 1966 5 7,955 immediate Andrea Arons 22 525 St. Charles percent Huseman Ave. Corporate Realty Inc. New Orleans 587-1450 The IP Building 84,585 72 $16.50 15 1900/2004 4 22,000 24,000 Bobby Talbot 23 643 Magazine percent percent Talbot Realty St. Group New Orleans NA K&B Plaza 70,000 99 $18.50 NA 1962 7 880 60 days Bennett K. Davis 24 1055 St. Charles percent Corporate Realty Ave. New Orleans 582-1416 546 Carondelet 51,081 100 NA NA 1910/1990 6 0 NA Frederick J. Tufts 25 Building percent Crutcher-Tufts 546 Carondelet Corporation St. Metairie 887-9327 Plaza Building 44,721 0 percent NA 15 1958/1984 2 44,721 immediate Michael J. Siegel 26 230 Loyola Ave. percent Corporate Realty New Orleans 581-5005 NA=not 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 2010 7A RE_trends2010_retrends2008 11/10/10 12:31 PM Page 8

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8A New Orleans CityBusiness • November 26, 2010 RE_trends2010_retrends2008 11/10/10 12:31 PM Page 9

Real Estate Trends 2010 Central Business District

INTERSTATE 10

S. Claiborne N. Claiborne

Clara

MAP S. Robertson N. Robertson Magnolia

11 Tulane S. Villere N. Villere

S. Robertson CANAL 13

SUPERDOME Freret LaSalle Marais Gravier 8 LaSalle

Treme Iberville

12 Cleveland

S. Saratoga Crozat Perdido

18 ELK PLACE BASIN S. Liberty 15 26

POYDRAS N. Rampart

Julia LOYOLA

Gravier 9

ro University Pl. Gi 20 Burgundy

10 3 Union 17 S. Rampart

Julia 16 LOYOLA O’Keefe Baronne Dauphine 7 Penn 28 32 S. Rampart CANAL Baronne Bourbon

O’Keefe Carroll

Girod 30 Common

Carondelet 2 Royal Julia

Baronne Lafayette 25 Exchange Alley 1 19

21 Chartres Howard Baronne PONTCHARTRAIN EXPRESSWAY Carondelet 22 4

St. Charles Julia 14 Decatur

Carondelet h Picayune Pl. Natchez

27 Magazine Josep

29 Camp POYDRAS St. Charles Church 6 Cir e c

24 e e

CANAL L St. Charles 23 Tchoupitoulas 5

Camp Constance

Magazine Notre Dame Notre

Julia 31

Howard

Joseph Poeyfarre South Peters Tchoupitoulas Ferry

Commerce Fulton

Convention Center Boulevard

Mississippi River Riverwalk

Real Estate Trends 2010 9A RE_trends2010_retrends2008 11/10/10 12:31 PM Page 10

Center City (ranked by total leasable space)

Largest Total Quoted block of Leasing agent leaseable rent space Leasing 2010 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 96 $18 NA 1952 5 600 NA P.W. Larsen 1 Building percent NA 1215 Prytania St.

Information 89,286 20 $19 12 2002 5 20,301 20,301 Sandi Stone 2 Technology percent percent University of New Building Orleans Research 2219 Lakeshore and Technology Drive Foundation Inc. New Orleans 280-2427 Buckman 79,405 90 $23 NA 1991/ongoing 5 3,600 NA administration 3 Medical Office percent NA Building 3434 Prytania St.

Advanced 78,500 95 $19 12 2001 5 4,370 4,370 Sandi Stone 4 Technology percent percent University of New Center Orleans Research 2021 Lakeshore and Technology Drive Foundation Inc. New Orleans 280-2427 Mid-City 48,000 100 $18 0 percent 1925/2006 2 0 0 Ernest E. Verges 5 Center percent NA 320 N. Carrollton Ave.

Prytania 47,837 50 $19 NA 1987/1998 NA NA NA Scott C. Landry 6 Medical Plaza percent NA 3600 Prytania St.

Smith Lupo 40,000 98 $17 17 1971/2006 5 917 NA R. Tom Lupo 7 Center percent percent NA 145 Robert E. Lee Blvd.

1231 Prytania 39,000 100 $18 NA 1962 6 0 0 P.W. Larsen 8 Building percent NA 1231 Prytania St.

1820 St. 36,000 100 $15.75 NA 1924/2004 2 0 0 Bobby Talbot 9 Charles percent Talbot Realty 1820 St. Group Charles Ave. New Orleans NA

10A New Orleans CityBusiness • November 26, 2010 RE_trends2010_retrends2008 11/10/10 12:31 PM Page 11

Center City (ranked by total leasable space)

Largest Total Quoted block of Leasing agent leaseable rent space Leasing 2010 Building name square Percent rate Common Year built/ available company Rank Address feet occupied high space renovated Floors (sq. feet) Availability Phone The 35,000 100 $18 NA 1875/1986 2 0 NA Arnold Cooper 10 Marketplace at percent DBIC Property Jackson Management Brewery NA 400 N. Peters St. Norman Mayer 34,594 100 $12.50 NA 1957/2006 4 0 0 Valerie Howell 11 Memorial percent United Way Building New Orleans 2515 Canal St. NA

101 West 33,830 81 $17.50 15 1982/2007 4 4,833 6,284 David Wright 12 Robert E. Lee percent percent Coldwell Banker 101 W. Robert Commercial TEC E. Lee Blvd. Realtors New Orleans 578-1777 Uptown 32,825 50 $16 NA 1979 3 3,464 9,602 Bert Duvic 13 Square percent Joe Gorman 170 Broadway Max J. Derbes St. Inc. New Orleans 733-4555 Lakefront 30,606 92 $16 10 1973/2006 4 1,320 immediate Warren A. Abadie 14 Professional percent percent Abadie Properties Office Building Inc. 6305-6307 Kenner Elysian Fields 456-2011 Ave. 4640 Building 26,313 92 $16.50 12 1924/1982 2 2,189 immediate Andrea Arons 15 4640 S. percent percent Huseman Carrollton Ave. Corporate Realty Inc. New Orleans 587-1450 University 24,000 100 NA NA 1964/2006 3 0 Blockbuster Lou Good 16 Village percent Space may NA 6221 S. become Claiborne Ave. available.

Union 23,000 40 $15 15 1954/2010 2 12,000 immediate Michael J. Siegel 17 Passenger percent percent Corporate Realty Terminal New Orleans 1001 Loyola 581-5005 Ave.

Bienville Place 21,000 80 $15 0 percent 1940/2006 1 3,000 30 days Ernest E. Verges 18 3909 Bienville percent NA St.

The Office 19,940 90 $24 10 1948/2000 3 1,338 immediate Edward Halpern 19 Suites at 1050 percent percent The Office Suites 1050 S. at 1050 Jefferson Davis New Orleans Parkway 304-3300

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 2010 11A RE_trends2010_retrends2008 11/10/10 12:31 PM Page 12

Real Estate Trends 2010 Center City

2 4 LAKE PONTCHARTRAIN

Lakeshore

Leon Simon 14 MAP

12 7 Elysian Fields Robert E. Lee West End

Filmore

Orleans Parish Jefferson Parish

train Blvd. train Harrison

Lake Pontchar

I-10 I-610 ntilly Ge

arconi

Wisner Pontchartrain Expressway M

Canal Blvd. City Park Esplanade St. Bernar

Jefferson Parish

Orleans Parish Canal

18 Orleans d 5 15 Broad

Tulane I-10 Jeff Davis t Earhar 11 ar W p t a sh Ram in Claiborne g 19 to n Basin

Royal

Fountainebleau Earhar t 10 Oak Poydras Carrollton T oledano

16 17 Loyola

Claiborne Decatur Broadway Mar Claiborne tin Luther King

1 CCC

Jackson 8 GNO Bridge 9 Freret

Louisiana

Jefferson

apoleon Magazine N 13 St. Charles 3 6

12A New Orleans CityBusiness • November 26, 2010 RE_trends2010_retrends2008 11/10/10 12:31 PM Page 13

Real Estate Trends 2010 Photo by Tracie Morris Schaefer

Developer Wade Verges, pictured at a listing at 7240 Crowder Blvd., says about 90 percent of the interest in commercial retail space in eastern New Orleans has come from mom-and-pop companies. Eastern New Orleans — Chalmette

By Diana Chandler est in the area is from mom-and-pop retailers, eastern New Orleans between 2007 and 2009, Contributing Writer such as restaurants and dry cleaners, which will the period studied in his latest New Orleans real [email protected] draw larger retailers. estate market analysis released in April. “The mom and pops are the ones that drive Miestchovich recorded the lowest retail occu- ital services and big box retailers will drive the national tenants to come in,” he said. pancy rates in Orleans Parish in 2009 in the Lake Vthe commercial market in eastern New “National tenants are not pioneers. They do a Forest market at 63.2 percent, compared with Orleans, said developer Wade Verges, but small lot of national research to see how the mom and 81.8 percent throughout the rest of the parish. retailers must be vibrant in a strong population pops are doing before they commit to that area.” “A return to what appears to be a balanced base to set the scene for change. Keith Adler, a leasing agent with Corporate market is probably not going to be realized for Within the past year, Verges sold the com- Realty, said the Bullard-Read corridor in partic- another five years or so,” Miestchovich said. mercial property at 6800 Plaza Drive to Ochsner ular is growing in popularity, driven by repopu- Office market occupancy is a similar picture, Health System, which plans to use the space for lation in nearby neighborhoods. with the Lake Forest eastern New Orleans area an emergency room and clinic that would pro- He’s working on a deal with Big Lots to reporting an average occupancy of 64.8 percent vide much needed medical services in the com- occupy the Schwegmann Plaza East site at 6003 in 2009 for Class B retail space, particularly strip munity and help drive population and develop- Bullard Ave., which at 115,000 square feet, is centers that have less than 100,000 square feet ment. The city of New Orleans also announced the largest leaseable space in the area. with a national anchor, Miestchovich said. The plans to reopen Methodist Hospital on Read The recession has created opportunities for occupancy rate citywide for such property was Boulevard by 2013 in an area that has lacked a discounters such as Wal-Mart, Big Lots and dol- 76.6 percent in 2009, down from 84.2 percent full-service hospital since Hurricane Katrina. lar stores as people seek bargains, Adler said. in 2008, according to the survey. Wal-Mart is looking for a site in the area, “Things really went south for almost all “The lowest occupancy and rent levels in which Verges said is common knowledge retailers except the discounters,” Adler said. this category of office space occurred in the Lake among area real estate agents. Still, discounters are moving into property Forest/New Orleans East sector,” he said. “This “Until Wal-Mart makes a decision of where already available, with no need for new devel- area accounts for a relatively large number of they will probably locate, that will inhibit people opments. storm-damaged properties that have not yet from coming in,” Verges said. “Wal-Mart has fol- University of New Orleans economist Ivan been returned to service, as well as several that lowers … and they have been in negotiations.” Miestchovich said there was little appreciative have been either partially or entirely repaired Verges estimates that 90 percent of the inter- growth in commercial real estate occupancy in and placed back into service.”•

Real Estate Trends 2010 13A RE_trends2010_retrends2008 11/10/10 12:31 PM Page 14

Eastern New Orleans/Chalmette (ranked by total leasable space) Largest Total Quoted block of Building leaseable rent space Leasing agent 2010 name square Percent rate Common Year built/ available Leasing company Rank Address feet occupied high space renovated Floors (sq. feet) Availability Phone Executive 114,670 NA $12 NA 1975/2009 11 10,500 NA Brandy Frisby 1 Plaza Kailas 10001 Lake Management Forest Blvd. Metairie 837-8644 7500 Bullard 90,000 20 $12 NA 2004 1 10,000 NA Wade T. Verges 2 7500 Bullard percent Verges Properties Ave. New Orleans 246-1562

Lake Oaks 60,000 100 $20 NA 1988 NA NA NA Keith Adler 3 Plaza percent Corporate Realty 6600 Franklin Inc. Ave. New Orleans 581-5005 Bullard 40,000 95 $15 NA renovated 1 2,000 NA Wade T. Verges 4 Corporate percent 2006 5555 Bullard LLC Center New Orleans 5555 Bullard 246-1562 Ave. Schwegmann 37,271 4 percent $16 NA NA NA 1,823 immediate Keith Adler 5 Plaza East Corporate Realty 6003 Bullard Inc. Ave. New Orleans 581-5005 Wink 32,500 NA $8 NA 1986/2005 1 32,500 immediate Duff Friend 6 Business Latter & Blum Park New Orleans 4949 Bullard NA Ave. 4277 Poche 29,242 0 percent $10 NA 1978/2006 2 29,242 immediate Cathy McGehee 7 Court West Joe Bistes 4277 Poche NA Court West

St. Bernard 25,000 85 $15 NA 2010 3 3,200 now Drew Heaphy 8 Port, Harbor percent St. Bernard Port, & Terminal Harbor and District Terminal District 100 Port Blvd. Chalmette 277-8418 Lake Willow 24,000 0 percent $12 NA 1980/under 4 NA NA Wade T. Verges 9 Building renovation Verges Properties 7240 Crowder New Orleans Blvd. 246-1562

Willow Tree 12,000 50 $12 NA 1985/2008 1 NA NA Wade T. Verges 10 7701 Dwyer percent Verges Properties Road New Orleans 246-1562

4434 Poche 12,000 5 percent $8 NA 2004 2 12,000 immediate NA 11 Court 4434 Poche Court West

5630 11,500 95 $15 NA 1980/2000 2 1,000 NA Wade T. Verges 12 Crowder percent 5630 Crowder LLC Blvd. New Orleans Building 246-1562 5630 Crowder Blvd. NA=not 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.

14A New Orleans CityBusiness • November 26, 2010 RE_trends2010_retrends2008 11/10/10 12:31 PM Page 15

Real Estate Trends 2010 Eastern New Orleans and Chalmette Discovery Blvd.

Morrison Bullar Lake Pontchartrain I-10 W New Orleans right d 2 Lakefront Airport Read Bundy Cr 5 Lake Forest Blvd. owder yer Dw enteur

MAP M Mayo Chef

4 Michoud Hayne Blvd. Downman 9 Lakeshore 1 11 France Morrison 6 7 3 10 12 Dwyer Old Gentilly Hwy Intracoastal Drive

Chef Menteur

Almonaster Missis

si Intracoastal Waterway pi River Gulf Outlet I-10 I-610 Orleans Parish Paris Rd. St Bernard

Florida Parish 8

N. Claiborne Chalmette

Poland St. Claude Center W. Judge Pere

Mississippi River Jean Laﬁtte Friscoville z

Kenner/St. Charles (ranked by total square feet) Largest Total block of Leasing agent Building leaseable Quoted space Leasing 2010 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 60 $18 NA 1982 5 33,000 53,325 Greer Roberts 1 Building percent 464-6582 2400 Veterans Blvd. Two James 53,520 92 $16.50 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 80 $15 13 1983/2006 2 3,772 NA Susan Wallace 3 Blvd. Building percent percent Cassie 2200 Veterans Goldsboro Blvd. Preferred Realty Inc. Metairie NA One James 43,055 85 $16.50 NA 1980 3 3,229 immediate Jennifer A. Lee 4 Park percent Sealy and Co. 100 James St. Rose Drive 463-5600 Plantation 26,066 100 $14.50 12 1982/1985 2 0 0 Greg S. Riera 5 Campus percent percent Jones Lang Center LaSalle 104 Campus New Orleans Drive E. 585-2670 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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Kenner/St. Charles (ranked by total square feet) Largest Total block of Building leaseable Quoted space Leasing agent 2010 name square Percent rent rate Common Year built/ available Leasing company Rank Address feet occupied high space renovated Floors (sq. feet) Availability Phone 160 James 25,772 100 $16.50 NA 1981 1 0 none Jennifer A. Lee 6 Drive East percent Sealy and Co. 160 James St. Rose Drive E. 463-5600 Five James 24,018 77 $16.50 NA 1983 2 2,780 immediate Jennifer A. Lee 7 Park percent Sealy and Co. 110 James St. Rose Drive W. 463-5600 3715 Williams 19,000 NA NA NA 1981/2008 2 NA NA Patrick T. Bossetta 8 Blvd. Building Standard 3715 Williams Properties Blvd. Metairie 247-2128 First 11,133 100 $16.50 10 1981/1999 2 0 none Charles M. Mullin 9 American percent percent The Mullin Co. Inc. Bank & Office St. Rose Building 465-9345 11 James Blvd. 2001 42nd St. 6,000 81 $14 0 percent 2006 2 1,125 immediate Charles M. Mullin 10 2001 42nd St. percent The Mullin Co. Inc. St. Rose 465-9345 Crouch 5,250 100 $16 0 percent 2010 1 2,250 Aug. 1, Charles M. Mullin 11 Building percent 2011 The Mullin Co. Inc. 231 West St. Rose Esplanade 465-9345 Ave.

Real Estate Trends 2010 Kenner and St. Charles Parish 10

11 8

W. Esplanade Loyola

MAP Jefferson Parish

St. Charles Parish I-10 Chateau Blvd.

Veterans Blvd. 1 3

James Business Park 7 New Orleans 6 2 International Airport Williams Blvd. 4 W. Metairie Blvd. 9 Kansas City Railroad

Illinois Central RR 5 U.S. 61 U.S. 61 (Airline) Jefferson Rive r Road Hwy. Mississippi River

16A New Orleans CityBusiness • November 26, 2010 RE_trends2010_retrends2008 11/10/10 12:31 PM Page 17

Real Estate Trends 2010 photo by Tracie Morris Schaefer

Prudential Gardner Realtor Mary Bergeron reviews paperwork for an office in St. Charles Parish, which she says has seen prices of $12 to $15 per square foot for spaces less than 2,000 square feet. Kenner and St. Charles Parish

By Garry Boulard year term has become much more popular.” ing on and it is very much having an impact Contributing Writer The good news for Kenner and St. Charles on commercial real estate.” [email protected] Parish is that there rarely is an abundance of avail- And even if the recession, according to able commercial space, even in the best of times. many national economists, officially ended in harles Mullin says the Kenner and St. “There is just not that big of a commercial 2009, its lingering effects most likely will be felt CCharles Parish commercial real estate mar- business out here,” said Monique Gros, a Realtor into next year. ket has remained fairly steady throughout the with Latter and Blum in Boutte. “The businesses “That means for the New Orleans metro area duration of the recession. that we have are mostly small, mom-and-pop type a high unemployment rate, a decline in spend- But one thing is for certain: Tenants are feel- of things, and they are people who are usually ing, and a lot of vacant, unoccupied commercial ing less secure about the future. more interested in leasing rather than buying.” space,” said Miestchovich, director of the “I am definitely doing more short-term Because of that lack of commercial space, UNO’s Institute for Economic Development renewals of previous three- to five-year con- Gros said that once the recession came, “The and Real Estate Research. tracts,” said Mullin, president of The Mullin fall-off here was much less severe.” Daniel Poulin, senior regional director for Co. “My clients today are looking for two Mary Bergeron, office manager with Sealey and Co., has noticed another trend in St. things: how to lower their overhead and whether Prudential Gardner Realtors in Hahnville, said Charles, Kenner and throughout the metro area. or not they can go with a one-year renewal commercial real estate in St. Charles Parish has “There is a consolidation of size going on,” instead of a three- to five-year renewal.” been a story of modest deals since the recession he said. “Companies that once had 10,000 That reluctance to commit to anything longer, started. square feet may now opt for 5,000 square feet Mullin said, reflects the reality that there is still a “Mostly it’s space under 2,000 square feet, instead. And the ones that had 5,000 square feet lot of uncertainty in the market. priced between $12 and $15 per square foot,” are downsizing to 3,000 square feet.” Beth Christina, an agent with Stirling Bergeron said. “Commercial real estate in St. Even so, Poulin said he thinks the Kenner Properties, has noticed the same trend in the Charles is holding on. We just haven’t seen the and St. Charles market is doing OK, despite see- same market. kind of downturn that has affected so many ing higher-than-normal vacancies. “People used to be willing to commit to longer other parts of the metro area.” “I participate in other sub-markets across the terms, but that’s no longer true,” Christina said. Such trends, said University of New Olreans country, in the Gulf South area, Texas, Florida “I just rented out something that was around economist Ivan Miestchovich, obviously are a and Georgia. And compared to those areas, we 1,600 square feet. Most of the retail calls I get result of the recession. are holding on,” he said. “Things obviously today are for 2,000 square feet and under. And “Consumer sentiment and confidence are could be much better, but they could also be for the smaller, individual type of retailer, the one- in the toilet right now. The recession is hang- worse, which for now is the good news.”•

Real Estate Trends 2010 17A RE_trends2010_retrends2008 11/10/10 12:32 PM Page 18

Real Estate Trends 2010

Bruce Sossaman, leasing director for Equity Office Properties, says Jefferson Parish avoided downsizing in office space associated with unemployment and slow job growth throughout the rest of the nation. Photo by Tracie Morris Schaefer

Metairie and East Jefferson By Jaime Guillet The landscape for office space occupancy average rate for property along Veterans, Stone Contributing Writer and rates paints a similarly positive picture for said, because of the inconsistency of space quali- [email protected] the metro area. Where high unemployment and ties and classifications. slow job growth have trended with downsizing Along the Metairie Road corridor, the pic- ommercial property brokers and managers in office space on a national level, that has not ture is the same: slightly deflated rates — from Cin Jefferson Parish repeatedly have used the happened so much in Jefferson Parish, said an all-time post-Katrina high — to a steady rate same phrase to describe the 2010 local market Bruce Sossaman, leasing director for Equity during 2010, said Grady Brame, a partner at — weathering the storm. In this case, the damag- Office Properties. Stirling Properties Inc. ing conditions materialized from a dismal The end of the second quarter saw Jefferson’s “Where rents had been going up, now they national economy. 2 million square feet of Class A office space on the are stabilized or even going down but still very The economic downturn led to rental rates East Bank 91 percent occupied, up from about 90 stable,” Brame said. on office and commercial retail spaces softening percent in 2009, Sossaman said. The current Before the recession, rents for retail space on over the past two years after the high spikes that average rate for Class A space is $22.75 per Metairie Road used to average in the $25 to $30 occurred right after Hurricane Katrina, said square foot compared with an average of $18 in per square foot range but are now gravitating Rich Stone, vice president of Latter and Blum’s the Central Business District. more toward $24 or $25 this year “and are very commercial division. “In general, rates have fallen 5 percent to 10 well leased,” he said. As the economy showed slight improve- percent in the last 12 to 24 months,” said The Jefferson Parish retail market centers ments in 2010, market rates stabilized, inquiries Richard Juge, owner of Re/Max Commercial around Lakeside Shopping Center, which is returned and the overall market looks like it will Brokers. “It’s a supply and demand picture. If “ground zero” for shopping in the region, continue to improve in 2011, Stone said. there is no new business creation then there is Juge said. “I am mostly positive about 2010 and the no job creation. It all trickles down. The good Indicators for Jefferson look “stable to slight- future,” Stone said. “This metropolitan area has news for Jefferson Parish is it’s always been a ly positive” moving into 2011, Juge said, partic- weathered the storm a lot better than the rest of very stable part of the metro area.” ularly with construction of the new Veterans the country. Things are still a lot slower than Retailers looking for space have been able to Affairs hospital in Mid-City, which could bring they’ve been, generally because of the national find opportunities along Veterans Boulevard, office space leasing in Jefferson Parish from engi- economy. But I think we’ll continue to see slow where in previous years it rarely was available or neers or architects, as well as the remainder of improvement.” priced exorbitantly. It’s difficult to assign an federal recovery funds that still must be spent.•

18A New Orleans CityBusiness • November 26, 2010 RE_trends2010_retrends2008 11/10/10 12:32 PM Page 19

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

Largest Total Quoted block of leaseable rent space Leasing agent 2010 Building name square Percent rate Common Year built/ available Leasing company Rank Address feet occupied high space renovated Floors (sq. feet) Availability Phone Three Lakeway 471,745 92 $23 NA 1987/2010 34 9,663 immediate Bruce Sossaman 1 Center percent Equity Office 3838 N. Properties Causeway Blvd. Metairie 219-5842 Galleria 465,985 96 $22 NA 1986/2008 22 8,791 immediate Jeff Cohn 2 1 Galleria Blvd. percent Corporate Realty Inc. New Orleans 581-5005 Two Lakeway 449,339 88 $22.50 NA 1984/2010 19 13,307 immediate Bruce Sossaman 3 Center percent Equity Office 3850 N. Properties Causeway Blvd. Metairie 219-5842 Heritage Plaza 353,003 90 $23 NA 1983/2007 18 13,215 immediate Gaines Seaman 4 111 Veterans percent Stirling Properties Blvd. Metairie NA

One Lakeway 300,816 89 $22.50 NA 1981/2010 14 17,000 immediate Bruce Sossaman 5 3900 N. percent Equity Office Causeway Blvd. Properties Metairie 219-5842 Elmwood 197,084 100 NA NA 1982/ 10 0 none Kellie McGovern 6 Tower percent 2005-2010 Kirsten Early 1201 Elmwood Steve Reisig Park Blvd. SRSA Metairie 831-2363 Executive 184,147 75 $15 NA 1972/ 14 9,726 immediate Juli W. Maillet 7 Tower percent ongoing Security National 3500 N. Properties Causeway Blvd. Baton Rouge 834-3626 110 Veterans 129,000 98 $18.50 16 1972/2005 5 1,521 2,550 Greer Roberts 8 Building percent percent 581-1314 110 Veterans Memorial Blvd.

3445 N. 127,663 72 $18 15 1969/2008 10 13,500 immediate Jeff Cohn 9 Causeway percent percent Corporate Realty Blvd. Inc. 3445 N. New Orleans Causeway 581-5005 Blvd.

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Real Estate Trends 2010 19A RE_trends2010_retrends2008 11/10/10 12:32 PM Page 20

+&+'')%*)'( ''*%$'&%()!) *' * One (1) Minute from Causeway Bridge at N. Causeway and West Esplanade Regions Bank Building, 3525 N. Causeway Boulevard is a ten (10) story high Class B office tower situated at the best Metairie CBD location offering sweeping lake views. Flexible floor plans; newly renovated common areas, elevators and lobby; more than ample parking, covered and uncovered is available at the most competitive rental rates. The Caboose Restaurant and Regions Bank are located on the first floor to satisfy your every need. )((' ")**!' ) ()% '#*"'+*)($ ')$'' www.3525Causeway.com

3501 N. 112,741 82 $17.50 15 1973/ 10 7,138 immediate Jeanne Booth 12 Causeway percent percent ongoing SRSA Commercial Building Real Estate Inc. 3501 N. Metairie Causeway Blvd. 831-2363 Causeway 108,718 94 $19.50 15 1983/2006 6 2,896 immediate Jeff Cohn 13 Plaza III percent percent Corporate Realty 3330 W. Inc. Esplanade Ave. New Orleans 581-5005

,+*)('+&%$#+"+%! %!!% %!!! %#+(%%(%(%%,+*)('+&% %() )#++( % )))% % ((% % )% % )&% (% *# ) % + % ( )%%(%(%)+( %++(%%+#(%((%+%()( (%+ )) % % +% ( % % )&% + % ++ (% (% $(&% +))% (+**# +*%# ()%+% #+))%(#( +) %()#(%%+%#*)%+#(%)( %(( +%%*% *)())%*& %+##%%(%(+%%(%,+*)('+&%

Causeway 108,520 97 $19.50 15 1982/2006 6 4,671 immediate Jeff Cohn 14 Plaza II percent percent Corporate Realty 3300 W. Inc. Esplanade Ave. New Orleans 581-5005 Causeway 108,480 98 $19.50 15 1982/2006 6 2,160 immediate Jeff Cohn 15 Plaza I percent percent Corporate Realty 3510 N. Inc. Causeway Blvd. New Orleans 581-5005 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.

20A New Orleans CityBusiness • November 26, 2010 RE_trends2010_retrends2008 11/10/10 12:32 PM Page 21

%$#"! $" "$ " $ $" $"!"$"$ "! $ "$ " $ "#!" $ !"$ "$ "$ "$ $ "$ $ !" $"$!" $$$"!" $"!"$"$ "! $ $$ " !$ $$" $!"#"$!" ! $$$!"$ $ " "! $ !$$$!$" $""$ !$$"$ $ !" $"$!" $$"!"$

880 Commerce 93,629 95 $19 NA 1979/1991 5 2,400 5,141 Kirsten Early 18 Road West percent SRSA Commercial 880 Commerce Real Estate Inc. Road W. Metairie 831-2363 800 West 91,628 97 $19 NA 1979/2004 5 2,400 NA Kirsten Early 19 Commerce percent SRSA Commercial 800 Commerce Real Estate Road W. Metairie 831-2363 Metairie Centre 90,469 84 $19 15 1986/2002 6 6,687 14,324 Karen Mitchell 20 2424 Edenborn percent percent Edenborn Partners Ave. LP Metairie 835-5209 Riverside I & II 89,543 80 $17.50 NA 1980/1981 3 7,153 18,704 Ronnie R. Rauber 21 6620 & 6660 percent Francis E. Klipping Riverside Drive Select Properties Limited Realty Metairie 833-0044 Stewart 87,000 100 NA 11,000 1974/1997 5 0 0 company owns 22 Enterprises percent building Corporate NA Headquarters 1333 S. Clearview Parkway Severn Place 86,421 96 $19 15 1982/2006 5 2,444 3,668 Karen Mitchell 23 2450 Severn percent percent Severn Place Ave. Associates Metairie 835-5209 Elmwood Oaks 71,985 85 $17 NA 2009 1 3,000 immediate Lauren Paige 24 201 Evans Road percent Maginnis Property South New Orleans 913-4444 Interstate II 60,000 100 $17.50 15 1980/2008 3 8,900 1-1-11 Colleen Kuebel 25 3636 S. I-10 percent percent Berthelot Service Road Corporate Realty New Orleans NA

Real Estate Trends 2010 21A RE_trends2010_retrends2008 11/10/10 12:32 PM Page 22

Metairie/East Jefferson (ranked by total leaseable square feet) Largest Total Quoted block of leaseable rent space Leasing agent 2010 Building name square Percent rate Common Year built/ available Leasing company Rank Address feet occupied high space renovated Floors (sq. feet) Availability Phone 990 N. 58,646 90 $19 NA 1979/1992 3 6,400 NA Kirsten Early 26 Corporate Park percent SRSA Commercial 990 N. Real Estate Corporate Park Metairie 831-2363 2540 Seven 56,000 97 $17 15 1984 4 1,801 2,000 Stephanie Dimak- 27 Building percent percent Boyd 2540 Severn Regis Realty I LLC Ave. Metairie 566-1400 Medical Plaza I 52,232 89 $18.50 NA 1972/2006 3 2,380 5,746 Ronnie R. Rauber 28 & ll percent Francis E. Klipping 3901 Houma Select Properties Blvd. Limited Realty Metairie 833-0044 Favrot & Shane 44,992 97 $16.75 NA 1981/2006 2 1,667 NA Susan Wallace 29 Building percent Cassie Goldsboro 3925 N. I-10 Preferred Realty Inc. Service Road Metairie NA Bank of 44,000 80 $17 NA 1980/2006 4 4,333 immediate Todd Glazer 30 Louisiana percent Talbot Realty Group 3340 Severn New Orleans Ave. 525-9763 Coldwell 42,650 67 $13.50 15 1970/2000 4 9,000 13,500 David Wright 31 Banker TEC percent percent Coldwell Banker Building Commercial TEC 4051 Veterans Realtors Memorial Blvd. New Orleans 578-1777 PRIME Veterans Boulevard location at 4051 Veterans Blvd. at Lake Villa. Landlord is motivated to lease 3,473 sf Ground Floor space that is available immediately. Upper Floor Office Space available starting at $13.50 per sf. Lots of windows, Plenty of parking and pylon signage on Veterans Blvd. Call David Wright, CCIM, Coldwell Banker Commercial TEC Realtors at 504-566-1777 or Denise Gaines/Praveen Kailas, Tower Realty at 504-828-9700 www.4051Veterans.com

3939 N. 40,000 100 $19.50 15 1971/2006 4 0 see agent Colleen Kuebel 32 Causeway percent percent Berthelot Blvd. Corporate Realty 3939 N. New Orleans Causeway Blvd. 581-5005 3939 N. 40,000 100 $19.50 15 1971/2006 4 0 see agent Colleen Kuebel 32 Causeway3200 Ridgelake 40,000percent 88 $17.50percent 10 1984/2005 4 2,984 immediateBerthelot Colleen Kuebel 33 Blvd.Building percent percent CorporateBerthelot Realty 39393200 N.Ridgelake NewCorporate Orleans Realty CausewayDrive Blvd. 581-5005New Orleans NA 3200 Ridgelake 40,000 88 $17.50 10 1984/2005 4 2,984 immediate Colleen Kuebel 33 BuildingInterstate I 40,000percent 98 $17.50percent 15 1979/2010 2 2,204 immediateBerthelot Colleen Kuebel 34 32003616 RidgelakeS. I-10 percent percent CorporateBerthelot Realty DriveService Road NewCorporate Orleans Realty NAInc. New Orleans Interstate I 40,000 98 $17.50 15 1979/2010 2 2,204 immediate Colleen581-5005 Kuebel NA=not34 available/not3616 S applicable. I-10 The above informationpercent was provided by the companiespercent themselves. Any additions or corrections should be sent on company letterheadBerthelot to Research, New Orleans CityBusiness Newspaper, 111 Veterans Blvd., Suite 1440, Metairie, LA 70005.

22A New Orleans CityBusiness • November 26, 2010 RE_trends2010_retrends2008 11/10/10 12:50 PM Page 23

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

Wagner & 35,000 92 $15.50 15 1965, 2 1,200 immediate Edward Rowley 17 Truax percent percent 1975, Wagner & Truax Co. 2121 N. 1978, Inc. Causeway Blvd. 2000 Metairie 830-7300

4141 Veterans 32,339 89 $17.50 15 1969/2006 3 4,503 immediate Matt Taylor 18 4141 Veterans percent percent Property One Inc. Blvd. Metairie 681-3428

Boy Scouts of 32,321 96 $13.50 17 1984/2006 2 1,415 immediate Matt Taylor 19 America percent percent Property One Inc. 4200 S. I-10 Metairie Service Road 681-3428

NY-II Office 30,114 92 $17.50 NA 1985/ 3 2,601 immediate Frederick J. Tufts 12 Building percent 2005-2006 Crutcher-Tufts Corp. 2750 Lake Villa Metairie Drive 887-9327

Crutcher-Tufts 29,002 100 $17.50 NA 1970/2006 3 0 NA Frederick J. Tufts 03 Building percent Crutcher-Tufts Corp. 3545 N. I-10 Metairie Service Road 887-9327

2626 North 26,870 92 $16.80 NA 1978/1993 2 NA 1,800 Dale C. Higgins 04 Arnoult percent square feet NA Building 2626 N. Arnoult Road

FGS Building 24,498 79 $17 NA 1981/2006 2 2,493 NA Susan Wallace 05 4300 S. I-10 percent Cassie Goldsboro Service Road Preferred Realty Inc. Metairie NA

Fairways Office 20,000 75 $19.25 15 1983/2007 3 10,000 10,000 James K. M. Newton 01 Building percent percent IV 131 Airline Drive Max J. Derbes Inc. New Orleans 733-4555

Enterprise 18,096 74 $17.50 NA 1971/1999 1 6,209 immediate Frederick J. Tufts 00 Rent-a-Car percent Crutcher-Tufts 3529 N. I-10 Corporation Service Road Metairie 887-9327

Libby Building 16,730 44 $15 15 1960/2009 2 8,365 9,300 Stephanie Dimak- 06 2700 Lake Villla percent percent Boyd Regis Realty I LLC New Orleans 566-1400

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 2010 23A RE_trends2010_retrends2008 11/10/10 12:32 PM Page 24

3841 Veterans 2,970 0 percent $14 0 percent 2006 2 2,970 immediate Skip Weber 48 3841 Veterans NAI/Latter & Blum Blvd., Suites Inc. Realtors 200, 204 New Orleans 887-3929 2301 N. Hullen 2,790 100 $9.46 175 2007 3 9,300 immediate Skip Weber 49 2301 N. Hullen, percent percent NAI/Latter & Blum Suite 103 Inc. Realtors New Orleans 887-3929 1929 Hickory 2,160 0 percent $11.67 0 percent unknown 2 2,160 immediate Skip Weber 50 1929 Hickory NAI/Latter & Blum Ave. 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.

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24A New Orleans CityBusiness • November 26, 2010 RE_trends2010_retrends2008 11/10/10 12:32 PM Page 25

Real Estate Trends 2010 Metairie and East Jefferson

Metairie Lake Pontchartrain

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Severn N. Arnoult Metairie Rd. Airline Dr. Transcontinental

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6 Jefferson Hwy Hickory Ave. Hickory Mounes S. Claiborne 50 35 26 18

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Evans Brookhollow 24

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1931

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Veterans Blvd.

41 I-10 44 Severn

42 Causeway 25 34

Real Estate Trends 2010 25A Real Estate Trends 2010 Photo by Shannon White Diecidue

Stirling Properties agent Lee Delahoussaye, left, and partner Grady Brame review notes on a commercial property at 109 Northpark Blvd. in Covington’s Northpark Business Park development. North Shore

By Jaime Guillet occupancy has stayed at 100-percent occupancy People are combing the market, but deals take Contributing Writer the past several years. Occupancy in West St. longer to do. Nothing seems to be in a hurry.” [email protected] Tammany in general has been very high, but St. Tammany Parish office rental rates in 2010 demand in terms of prospects has diminished experienced a general decline of between 10 per- he North Shore commercial real estate mar- compared with interest of a couple years ago. cent and 20 percent to $21 to $23 per square foot Tket performed fairly well during 2010, Gulf States Real Estate Services President for Class A space, down form a post-Hurricane including high occupancy rates and diminished Mike Saucier said he has seen business pick up Katrina high of the upper $20 range. yet stable lease rates. With a slate of deals in in the past six months and has been receiving On the retail side of business, leasing agents development, industry insiders say they expect more calls for spaces in the 20,000- to 25,000- have struck a variety of deals in Hammond and better news to come in early 2011. square-foot range. Saucier said general interest is Covington, primarily at the Hammond Square The nation’s economic woes trickled down growing for the North Shore as an area for satel- development. They include a new 70,000-square- to businesses and retailers locally, as well as lim- lite offices as it gains attention for various moves, foot Academy Sports and Outdoors store, which iting financing. such as this year’s announcement by Globalstar will open next summer, as well as retail space in Still, the year’s weakened economic land- Inc. to relocate its corporate headquarters to Colonial Pinnacle’s Nord du Lac shopping center, scape was an improvement over 2009, with Covington, and Chevron’s Gulf of Mexico head- which opened in Covington in October. steady growth over recent quarters, said Grady quarters move from New Orleans in 2008. Brame says several small national retailers Brame, partner at Stirling Properties, which Saucier puts Gulf States’ occupancy rates soon will move into Covington, such as a 4,200- manages and serves as leasing agent for between 90 percent and 95 percent, compared square-foot Claire’s Accessories and a 1,200- Northpark Corporate Center and Northpark II with between 80 percent to 85 percent in 2009. square-foot Children’s Place. Rates on retail in Covington. Those two office buildings are Commercial lending appears to take be tak- space are averaging about $15 a square foot. 100 percent occupied and the rest of St. ing longer, which has contributed to the slow Those and other ongoing deals — on at least Tammany’s suburban office market has a “pret- pace of the market, but lenders are coming to the three mid-sized anchored retail centers for 2011 ty stable” occupancy rate, Brame said. table, Brame said. Financing for “good, quality — should be a source of optimism for the North “It’s not as good as a couple years ago, but projects” is solid but slow, he said. Shore for next year, Saucier said. we’re not seeing significant rate pressure or “The market is slow but I would not call it dead He cautions that it likely will be “another two move-outs that we feared,” Brame said. at all,” Brame said. “I still see the market as being a or three years” before unanchored retail space He said Stirling’s North Shore office space little soft, but I’m talking to a lot of prospects. rebounds.•

26A New Orleans CityBusiness • November 26, 2010 RE_trends2010_retrends2008 11/10/10 12:32 PM Page 27

Covington's 45,000 60 $22 NA 2001 3 NA immediate Rita Moreci 6 Village Walk percent Phoenix Covington 5100 Village Associates Walk Covington NA Slidell 43,671 90 $17 NA 1993 4 1,800 immediate Elizabeth Teague 7 Memorial percent (985) 649-8509 Hospital Medical Office Building l 1051 Gause Blvd. Slidell 41,342 95 $15.25 NA 1999 3 1,500 immediate Elizabeth Teague 8 Memorial percent (985) 649-8509 Hospital Medical Building lll 1150 Robert Blvd. Pontchartrain 25,500 95 $20 NA 1998 1 1,500 NA Barry Escher 9 Place percent Mauti Meredith 1501-1535 W. Scoggin Properties Causeway Covington Approach (985) 893-3500 Fountainbleau 25,200 90 $20 NA 2002 1 1,950 NA Barry Escher 10 Place percent Mauti Meredith 1401-1441 W. Scoggin Properites Causeway Covington Approach (985) 893-3500 No. 3 21,000 100 $19 NA 2000 NA NA NA Marlene Zahn 11 Sanctuary percent Cindy Saia No. 3 Mamie Henry Sanctuary Lee de la Blvd. Houssaye Stirling Proerties Covington (985) 898-2022

Real Estate Trends 2010 27A RE_trends2010_retrends2008 11/10/10 12:32 PM Page 28

North Shore (ranked by total leaseable square feet) Largest Total block of Building leaseable Quoted space Leasing agent 2010 name square Percent rent rate Common Year built/ available Leasing company Rank Address feet occupied high space renovated Floors (sq. feet) Availability Phone No. 2 21,000 73 $19 NA 1998 NA 3,406 NA Marlene Zahn 12 Sanctuary percent Cindy Saia No. 2 Mamie Henry Sanctuary Lee de la Blvd. Houssaye Stirling Properties Covington (985) 898-2022 No. 4 21,000 92 $19 NA 2004 NA 1,670 NA Marlene Zahn 13 Sanctuary percent Cindy Saia No. 4 Mamie Henry Sanctuary Lee de la Blvd. Houssaye Stirling Properties Covington (985) 898-2022 No. 5 21,000 100 $19 NA 2006 NA NA NA Marlene Zahn 14 Sanctuary percent Cindy Saia Blvd. Mamie Henry No. 5 Lee de la Sanctuary Houssaye Blvd. Stirling Properties Covington (985) 898-2022 The Allstate 20,153 100 $20 NA 1998 1 0 NA Barry Spizer 15 Building percent SRSA Comercial 111 Park Real Estate Inc. Place Metairie 831-2363 Stirling Place 20,000 80 $20 NA 2005 1 4,000 NA Barry Escher 16 1321 W. percent Mauti Meredith Causeway Scoggin Properties Approach Covington (985) 893-3500 Slidell 18,522 90 $15.25 NA 1997 2 1,900 immediate Elizabeth Teague 17 Memorial percent (985) 649-8509 Hospital Medical Office Building ll 901 Gause Blvd. Grey Fern 17,700 50 $15 NA 1986 1 3,770 NA Bucky Meredith 18 200 percent Mauti Meredith Greenleaves Scoggin Properties Blvd. Covington (985) 893-3500 Tammany 17,000 77 $10.30 NA 1970 2 1,912 immediate Joseph W. Carroll II 19 Home Center percent Latter & Blum Inc. 2101 U.S. Mandeville Highway 190 (985) 626-5695

Iberia Bank 16,000 100 $21 2,750 1980 3 0 0 Marcia D'Amico 20 Building percent Mike D'Amico 4565 LaSalle Property One Inc. St. Mandeville 674-1197 No. 1 16,000 100 $19.50 NA 1997 NA NA NA Cindy Saia 21 Sanctuary percent Marlene Zahn No. 1 Mamie Henry Sanctuary Lee de la Blvd. Houssaye Stirling Properties Covington (985) 898-2022

28A New Orleans CityBusiness • November 26, 2010 RE_trends2010_retrends2008 11/10/10 12:50 PM Page 29

Simpson 10,200 80 $15 NA 1990/2006 2 2,200 2,200 Bryan Burns 16 Creek percent Jefferson Redwood 200 South LLC Tyler Covington 782-0100 62250 West 8,800 50 $16.50 NA 2005 2 8,800 immediate Andrea Arons 17 End Blvd. percent Huseman NA Corporate Realty Inc. New Orleans 587-1450 Fountainhead 7,783 0 percent $10,000 NA NA NA 70,783 NA Joseph W. Carroll II 18 61445 Latter & Blum Inc. Lemieux Mandeville (985) 626-5695

847 Galvez 7,464 60 NA NA 2009 NA NA NA Michael Piazza 29 Office percent NA Building 847 Galvez St.

The Edson 6,360 0 percent $14 NA NA NA 1,780 immediate Joseph W. Carroll II 20 Building Latter & Blum Inc. 21357 Marion Mandeville Lane (985) 626-5695

1150 N. 5,000 70 $18 NA 1988 1 1,500 NA Jeffrey H. St. 21 Causeway percent Romain Blvd. Mauti Meredith 1150 N. Scoggin Properites Causeway Covington Blvd. (985) 893-3500 Orchard Park 3,522 0 percent $24 0 percent 2009 1 3,522 immediate Barrett Cooper 22 D Stirling Properties 46 Louis Prima New Orleans Drive, Unit D 523-4481

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.

Real Estate Trends 2010 29A RE_trends2010_retrends2008 11/10/10 12:32 PM Page 30

North Shore (ranked by total leaseable square feet)

Largest Total block of Building leaseable Quoted space Leasing agent 2010 name square Percent rent rate Common Year built/ available Leasing company Rank Address feet occupied high space renovated Floors (sq. feet) Availability Phone North Star 3,500 100 $14 NA unknown/ NA NA NA Ted Moses 34 Theater percent 2006 Prudential Gardner 347 Girod St. Realtors Mandeville NA

880 Lafayette 3,000 100 $1,500 NA NA NA NA NA Joseph W. Carroll II 35 880 Lafayette percent Latter & Blum Inc. Mandeville (985) 626-5695

220 Dalwill 1,832 100 $14 NA 2006 1 NA NA Joseph W. Carroll II 36 Building percent Latter & Blum Inc. 220 Dalwill Mandeville Drive (985) 626-5695

1795 W. 1,000 100 $10 200 unknown 2 1,000 immediate Skip Weber 37 Causeway percent NAI/Latter & Blum Approach Inc. Realtors 1795 W. New Orleans Causeway 887-3929 Approach, Suite 103A

Real Estate Trends 2010 North Shore 28 River Rd. W. 21st St. U.S . 190 Allen Rd. N. Lee Rd. Talisheek Rd. Military Rd. Covington . 6 Abita Springs West Causeway Approach 27 Boston Ave. 25 Range Line Rd. * 22 9 10 16 36 37 2 15 Hickory A ve. N. Causeway Blvd. MAP 1 3 * 31 *23 24 32

Covington Hwy. Mandeville Hwy. Abita I-12 U.S. Highway 190 West Causeway * *5 19 33 9 Approach I-5

12 U.S. Highway 190 13 20 Pine 14 11 W 26 18 I-1 a 21 Highway 1088 2 Fish Hatchery Rd. tts 30 35 Rd * 4 . N. Causeway Blvd. Florida Ave. 34

U.S. 1 Davis Rd.

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30A New Orleans CityBusiness • November 26, 2010 RE_trends2010_retrends2008 11/10/10 12:32 PM Page 31

Real Estate Trends 2010

Joseph Maerke, left, vice president and broker for Jack Stumpf and Associates, and associate Barry Burkart have seen a renters market emerge on the West Bank. Photo by Tracie Morris Schaefer

West Bank By Autumn C. Giusti would have had tenants anxiously and aggres- for Jack Stumpf and Associates, 79 percent have Contributing Writer sively seeking renewals and extensions of their been to end users, such as retailers and businesses [email protected] existing leases,” he said. “Now there seems to be occupying those spaces, Maerke said. Only 21 per- few calls from new tenants, and there seems to cent has been to investors — people willing to low but steady is the name of the game for be a good bit of hesitancy on the part of existing spend discretionary or investment income. Sthe West Bank commercial real estate mar- tenants to make a long-term commitment.” “We have always represented risk takers, peo- ket, which has weakened slightly in the past year Vacancies are popping up in areas where ple who are willing to buy properties with vacan- because of the economy, industry experts say. leasing was never a problem. And because cies and either redo them or take the chances of Occupancy rates have hovered between 85 per- demand is soft for the few vacancies that are on finding a tenant where the old owner wouldn’t,” cent and 90 percent for warehouse space and about the market, renters have the upper hand, said he said. “What has happened is commercial pric- 80 percent for office space, said James Barse, associ- Joe Maerke, vice president and broker for Jack ing on sales has not dropped … to where ate broker with Latter and Blum on the West Bank. Stumpf and Associates. investors are willing to jump in. So until prices A year ago, warehouse space occupancy was “It’s not uncommon for tenants to want rental start to fall, I think it’s going to be a slow market.” between 90 percent and 95 percent, while office concessions,” he said. “Some of the property own- The West Bank saw a flurry of interest in space occupancy was about 90 percent. ers we represent aren’t in a position to grant rental industrial properties earlier this year after the Despite the drop, brokers say they are opti- concessions at this time. It will be very interesting Gulf of Mexico oil spill, particularly from large mistic about the state of the West Bank market. to see what happens in the near future, because companies that thought they would make “It may be a little softer now, but the long- there may be some pressure on the owners.” inroads with cleanup work. Calls increased for term prospects are good,” Barse said. This happens a lot in cases of retailers that warehouse space on Peters and Engineers Still, the economy has forced some tenants might be losing business and need to get some kind roads, Maerke said. to shorten their lease lengths. Whereas in the of rent concession to keep the doors open. And for “But that fell off fast,” he said. “And there’s past tenants looked to renew leases for three, the landlord, that might mean losing a tenant. really nothing that’s come back to replace it.” five or even seven years, they now renew on a Interest from investors is also low compared Nonetheless, Barse foresees “very good” prices one-year basis, said Vincent Vastola, director with interest from businesses and end users, the for buyers and tenants in the next year or so. of real estate for the Marrero Land and tenants that actually fill the space as opposed to “It’s just a little soft right now with the con- Improvement Association. an investor who might buy the space and then cern about Avondale and the oil and gas busi- “A few years ago you might have had calls on rent it out to a business. ness,” he said. “And a lot of this depends on a regular basis for available spaces, and you Of this year’s sale transactions through October what happens with our national economy.”•

Real Estate Trends 2010 31A RE_trends2010_retrends2008 11/10/10 12:32 PM Page 32

West Bank (ranked by total leasable space) Largest Total Quoted block of Building leaseable rent space Leasing agent 2010 name square Percent rate Common Year built/ available Leasing company Rank Address feet occupied high space renovated Floors (sq. feet) Availability Phone Oakwood 133,360 93 $19.50 15 1985/2008 6 1,919 immediate Connie Y. 1 Corporate percent percent Chiasson- Center Douglass 401 Whitney The Feil Ave. Organization Metairie 833-6334

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Timbers 128,183 84 $13 15 1984/1995 5 4,815 NA Steven Williams 2 TimbersOffice 128,183 84percent $13 15percent 1984/1995 5 4,815 NA StevenSecurity Williams National 2 OfficeBuilding percent percent SecurityProperties National 3520 Gen. Baton Rouge DeGaulle NA Drive Westpark 108,889 100 $20 NA 1983/1997 6 0 0 Bryan Burns 3 Office percent Cres Gardner Building Transwestern 1 Seine New Orleans Court 799-3124 Lapalco 48,000 60 $14.50 NA 1986 1 3,760 immediate Jack Stumpf 4 Square percent Jack Stumpf & 1545 Associates Inc. Lapalco Blvd. Harvey 366-6800 2550 42,120 100 $15.50 NA 1983 3 0 NA John Joseph 5 Building percent Farrell 2550 Belle NA Chase Highway MG Plaza 30,000 100 $15.50 10 1984/2006 3 NA NA Jack Stumpf 6 1601 Belle percent percent Jack Stumpf & Chase Associates Inc. Highway Harvey 366-6800 Mac Arthur 27,439 94 $14 NA 1971/1991 2 1,838 1,838 square Stephanie Hilferty 7 Professional percent feet available SRSA Commercial Building now Real Estate 3712 Mac Metairie Arthur Blvd. NA Cypress 24,248 100 $15 4,351 1976/2006 2 12,000 immediate A. K. Gordon 8 Park percent Crown Properties 405 Gretna Inc. Blvd. Gretna 366-4001 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.

32A New Orleans CityBusiness • November 26, 2010 RE_trends2010_retrends2008 11/10/10 12:32 PM Page 33

West Bank (ranked by total leasable space)

Largest Total Quoted block of Building leaseable rent space Leasing agent 2010 name square Percent rate Common Year built/ available Leasing company Rank Address feet occupied high space renovated Floors (sq. feet) Availability Phone Marrero 23,310 83 $16.65 15 1971/1991 4 2,533 immediate Vincent Vastola 9 Land Office percent percent Marrero Land & Plaza Improvement 5201 Association Ltd. Westbank Marrero Expressway 341-1635 3221 16,500 85 $16 NA 1970/2000 2 3,740 immediate Jack Stumpf 10 Behrman percent Jack Stumpf & Place Associates Inc. 3221 Harvey Behrman 366-6800 Place Plaza West 16,000 100 $1,250 NA 1983/2006 2 NA NA Jack Stumpf 11 3201 Gen. percent Jack Stumpf & DeGaulle Associates Inc. Drive Harvey 366-6800

1141 15,000 100 $14 NA 1981/2002 2 NA NA Jack Stumpf 12 Building percent Jack Stumpf and 1141 Associates Inc. Whitney Harvey Ave. 366-6800

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Real Estate Trends 2010 33A RE_trends2010_retrends2008 11/10/10 12:32 PM Page 34

Northpark Business 600,000 600,000 150 Y Y N $20-$24 Barry Spizer Park Lee M. de le 109 Northpark Blvd. Houssaye Covington SRSA Commercial Real Estate Stirling Properties Covington 831-2363 (985) 898-2022 Riverbend Business 592,000 WND WND Y Y Y $3.75-$10 Trimble Green Park NAI/Latter & Blum Riverbend Blvd. Inc. St. Rose New Orleans WND Labarre Business 313,000 0 WND N N Y not for rent Gerard E. Henry Park Max J. Derbes Inc. 901 Labarre Road New Orleans Metairie 733-4555

Alamosa Business 300,000 WND WND Y Y Y $5-$5.50 Robert G. Tufts Park KW Commercial 68425 Highway 59 Mandeville Mandeville (985) 727-2177

Rathborne 240,000 0 40 Y N Y WND Annette McDow Industrial Park Rathborne P.O. Box 157 Properties Harvey Harvey 368-6355 New Orleans 130,000 WND 7,000 Y N Y $3.25 Vicki Manego Regional Business WND Park 13801 Old Gentilly Road New Orleans Marrero Industrial 125,000 0 190 Y N Y $4.50-$9.85 Vincent Vastola Subdivision per square Marrero Land and 3400 block of foot Improvement Westbank Association Ltd. Expressway Marrero Harvey 341-1635 Westpark Office 110,000 0 21 WND WND WND WND Bryan Burns Park Transwestern 1 Seine Court New Orleans Algiers WND

Sanctuary Office 100,000 none 10 Y N N $19-$20 Lee de la Park acres Houssaye No. 1 Sanctuary Blvd. Stirling Properties Mandeville Covington (985) 898-2022 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

34A New Orleans CityBusiness • November 26, 2010 RE_trends2010_retrends2008 11/10/10 12:32 PM Page 35

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 The Preserve 80,000 80,000 7.4 Y N N $19 Rich Mauti Waterfront Office Mauti Meredith Park Scoggin Properties Helenbirg Road Covington Covington (985) 893-3500 Plantation Business 77,311 WND WND N Y Y WND Greg Riera Campus Jones Lang 104 Campus Drive E. LaSalle Destrehan New Orleans 585-2670 Covington Industrial 72,000 200,000 100 Y Y Y $4-$7.50 Matt Organ Park Re/Max 17351 Hard Hat Row Commercial Covington Brokers Inc. Mandeville (985) 727-0001 James Business 36,250 2,500,000 280 Y Y Y $6.50-$16.50 Charles M. Mullin Park The Mullin Co. Inc. 916 W. Airline St. Rose Highway 465-9345 Kenner/St. Charles Northpointe 30,000 30,000 118 Y Y Y WND Matt Organ Business Park Re/Max Highway 1077 and Commercial Highway 1085 Brokers Inc. West St. Tammany Mandeville (985) 727-0001 Tammany West 28,600 28,600 2.6 Y Y N $15-$18 Matt Organ Multiplex Re/Max Highway 1077 and Commercial New Camelia Blvd. Brokers Inc. West St. Tammany Mandeville (985) 727-0001 Happywoods 13,125 WND 13 + Y N Y $6 Joe A. Kramer Commercial Park Stirling Properties 14082 Club Deluxe Inc. Hammond Covington (985) 898-2022 Fairview Oaks 8,000 100,000 24.42 Y N N $12-$16 Matt Organ Business Park Re/Max Highway 22 Commercial Mandeville- Brokers Madisonville Mandeville (985) 727-0001 Holiday Office Park 7,200 WND WND Y N N WND David Waltemath 3520 Holiday Drive Classic Properties Algiers Management New Orleans WND Orchard Office Park 3,950 3,950 WND Y N N $20 Barrett Cooper Building C Stirling Properties 34 Louis Prima Drive New Orleans Covington WND

Orchard Office Park 3,522 3,522 WND Y N N $24 per Barrett Cooper Building D square foot Stirling Properties 46 Louis Prima Drive New Orleans Covington 523-4481

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

Real Estate Trends 2010 35A RE_trends2010_retrends2008 11/10/10 12:32 PM Page 36

Commercial leasing companies (ranked by commercial square feet leased) Top local executive Commercial Title Company square feet Leasing breakdown in Phone Top three leases (lessee, Address leased square feet Fax square feet) SRSA Commercial Real 2,290,009 office: 700,576; retail: Barry Spizer, Steven Hornbeck Marine: 55,813; Estate 955,034; industrial: 354,973; Reisig, Don Entergy Services: 29,000; Toys 2555 Severn Ave., Suite other: 279,426 Schwarcz, Kirsten R Us: 30,766 200 Early Metairie 70002 principals 831-2363 456-8995 Corporate Realty Inc. 2,281,137 office: 1,926,238; retail: Michael J. Siegel Northrop Grumman: 76,250; 201 St. Charles Ave., Suite 354,899 president Baker Donaldson: 48,210; 4411 581-5005 University of Phoenix: 43,010 New Orleans 70170 585-2605 Latter & Blum Inc. 2,250,743 industrial: 1,751,081; retail: Robert Merrick Liquid Container: 262,344; 430 Notre Dame St. 249,585; office: 250,077 chairman and CEO Primesource Building New Orleans 70130 525-1311 Products: 112,500; S. Cubed 569-9336 Pacoromi Logistics: 93,242 Lauricella & Associates 2,079,608 retail: 1,737,766; office: Louis V. Lauricella Home Depot: 129,769; Kmart: Inc. 116,842; other: 225,000 president 110,843; Elmwood Fitness 1200 S. Clearview Parkway, 733-1212 Center: 81,361 Suite 1166 733-4598 New Orleans 70123 Stirling Properties 1,940,498 office: 32,0387; retail: Martin A. Mayer WND 109 Northpark Blvd., Suite 1,020,334; other: 599,777 president and CEO 300 (985) 898-2022 Covington 70433 (985) 898-2077 Bridgewater Properties 1,700,000 office: 4 percent; retail: 1 Robert D. Bridgewater Metro Intl: 85,733; West End 5612 Jefferson Highway percent; other: 95 percent Jr. Building: 78,000; Earthgrains: Elmwood 70123 owner 11,250 733-9638 734-1897 Jones Lang LaSalle 1,670,000 office: 1,670,000 Greg Riera WND Americas Inc. senior vice president 1515 Poydras St., Suite 585-2670 1970 585-2674 New Orleans 70112 Sealy and Co. 1,668,346 office: 146,365; industrial: Daniel P. Poulin MISSCO: 52,620; Kongsberg: 150 James Drive E., Suite 1,693,325 senior regional 27,636; Wink Inc: 27,559 140 director St. Rose 70087 463-5600 463-5650 Max Derbes Inc. 1,277,000 industrial: 1,170,000; David B. Quinn and 5042 Bloomfield: 100,000; 5440 Mounes Blvd., Suite commercial/office: 107,000 Gerard E. Henry 1420 Sams: 93,800; 600 St. 100 principals George: 94,220 Elmwood Business Park 733-4555 New Orleans 70123 733-5518 CB Richard Ellis 1,256,991 retail: 44,858; office: Russell Marchand WND 701 Poydras St., Suite 3870 1,212,133 senior property New Orleans 70139 manager 323-7000 323-7052 Marrero Land and 1,241,386 office: 125,000; retail: N. Buckner Barkley WND Improvement Association 509,810; industrial/other: Jr. Ltd. 606,576 president 5201 Westbank 341-1635 Expressway, Suite 400 340-4277 Marrero 70072 Kailas Cos./Tower Realty 1,189,125 office: 72,6487; retail: Mohan Kailas Burlington: 100,000; Office 3525 N. Causeway Blvd., 435,638; other: 27,000 president and CEO Depot: 30,000; Regions Bank: Suite 1040 828-9700 20,000 Metairie 70002 828-9717 Rathborne Cos. 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 DBIC Property 931,000 office: 53,000; retail: 868,000 Arnold Cooper Saks, Academy Sports, Management Inc. NA Rouses Grocery, Walgreens 100 Conti St. 581-4082 New Orleans 70130 NA

36A New Orleans CityBusiness • November 26, 2010 RE_trends2010_retrends2008 11/10/10 12:32 PM Page 37

Commercial leasing companies (ranked by commercial square feet leased)

Top local executive Commercial Title Company square feet Leasing breakdown in Phone Top three leases (lessee, Address leased square feet Fax square feet) Coldwell Banker 763,295 office: 60 percent; retail: 15 Mark Inman WND Commercial TEC Realtors percent; other: 25 percent vice president Inc. 566-1777 701 Loyola Ave., Suite 401 566-1775 New Orleans 70150

Equity Office Properties 457,392 office: 100 percent Bruce Sossaman Gulf Intracostal Contractors; 3900 N. Causeway Blvd., leasing director Liberty Mutual; Met Life Suite 1350 219-5842 Metairie 70002 219-5849

Re/Max Commercial 450,566 office: 259,236; retail: 73,109; Richard E. Juge industrial: 73,504; office: Brokers Inc. industrial: 115,201; other: broker and owner 73,000; office: 17,780 3331 Severn Ave., Suite 3,020 838-0001 200 Metairie 70002 835-0900 1740 N. Causeway Blvd. Mandeville 70471 Jack Stumpf and 376,111 WND Jack Stumpf WND Associates Inc. president 1700 Central Ave. 366-6800 Harvey 70058 NA

Regis Realty One Inc. 337,206 office NA WND 1340 Poydras St., Suite NA 1770 566-1400 New Orleans 70112 566-1799

HGI 305,000 office: 280,000; retail: 25,000 Mark Subervielle WND 4305 Clearview Parkway, director of sales Suite A 207-7575 Metairie 70006 207-7576

Property One Inc. 256,730 office: 213,706; retail: 8,030; Quentin Dastugue Phelps Dunbar: 93,120; 4141 Veterans Blvd., Suite other: 35,162 CEO Entergy: 29,000; LaPorte: 300 681-3400 20,688 Metairie 70002 681-3438

Lupo Enterprises 250,000 office: 75,000; retail: 150,000; Robert Lupo Parc St. Charles Hotel; Pelican 145 Robert E. Lee Blvd. other: 25,000 CEO Club Restaurant; Robert Fresh New Orleans 70124 283-3421 Market 283-3423

Gulf States Real Estate 225,500 office: 36,500; retail: 164,000; Michael Saucier Channel (Hammond); Services medical: 18,000; warehouse: president Copperstill (Covington); 109 New Camellia Blvd., 4,000 (985) 792-4385 Medical Center at LA Heart Suite 100 (985) 792-4392 Hospital Plaza (Lacombe) Covington 70433

Mauti Meredith Scoggin 212,338 warehouse: 68,884; retail: C. L. "Bucky" WND Properties 20,995; office: 122,459 Meredith Jr. 100 Innwood Drive, Suite A broker Covington 70433 (985) 893-3500 (985) 893-3502

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

Real Estate Trends 2010 37A RE_trends2010_retrends2008 11/10/10 12:32 PM Page 38

Commercial leasing companies (ranked by commercial square feet leased) Top local executive Commercial Title Company square feet Leasing breakdown in Phone Top three leases (lessee, Address leased square feet Fax square feet) The Mullin Co. Inc. 155,998 office: 16,834; warehouse: Charles M. Mullin WND 11 James Blvd., Suite 210 139,164 president St. Rose 70087 465-9345 464-1473 Select Properties Ltd. 88,697 office: 88,697 Leon Giorgio Jr. Blue Williams: 36,821; Alverez/ Realty president Dunnaway: 5,598; JP Sheriffs: 6620 Riverside Drive, Suite 833-0044 3,884 300 833-0848 Metairie 70003 Prudential Gardner 80,662 office: 100 percent Ted Moses Mariner's Plaza: 81,762; Realtors realtor Brookside: 14,400; North Star 800 N. Causeway Blvd., (985) 674-8887 Theater: 3,500 Suite 1-A (985) 626-1623 Mandeville 70448 The Latitude Group 60,000 office: 20,000; retail: 15,000; Robert G. Tufts Vericore: 12,300; La Carreta's: 1600 W. Causeway other: 25,000 owner and CEO 5,000; Rookie's Sports Cafe: Approach, Suite 7 (985) 727-2177 3,000 Mandeville 70471 (985) 727-2207 Meltzer Properties 43,400 retail: 100 percent John A. Meltzer WND 4621 W. Napoleon Ave., president Suite 106 885-8400 Metairie 70001 885-9610 Borngesser Realty Co. 18,000 office: 3,000; retail: 4,500; Don Borngesser 4,000; 2,500; 2,300 4415 Shores Drive, Suite industrial: 11,000 owner 206 454-0800 Metairie 70006 456-1652 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. 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 Latter and Blum 733-3553 7 million 0 percent 90 percent 23 31 percent Riverbend Business Property (225) 297-7888 10 million 100 percent 147 41 percent Park, 6200 Management 483-7792 28 percent Humphreys Inc. 5557 Canal Blvd. New Orleans 70124 Stirling (985) 898-2022 4 million 0 percent 90 percent 12 10 percent Hammond Square, Properties (985) 898-2077 11 million 100 percent 104 22 percent Heritage Plaza, 109 Northpark 68 percent Stirling Covington Blvd., Suite 300 Center Covington 70433 SRSA Gulf 831-2363 4 million 1 percent 100 percent 6 2 percent East Jefferson South 456-8995 4 million 99 percent 37 56 percent General Hospital Management 42 percent Medical Office 2555 Severn Building Portfolio, Ave., Suite 200 Northside Plaza, Metairie 70002 1201 Elmwood Parkway office building, 3501 N. Causeway office building Sealy and Co. 463-5600 2 million 36 percent 100 percent 1 92 percent James Business 150 James Drive 463-5650 16 million 64 percent 8 8 percent Park, Jefferson E., Suite 140 0 percent Business Center, St. Rose 70087 Sealy Ashland Distribution Center

38A New Orleans CityBusiness • November 26, 2010 RE_trends2010_retrends2008 11/10/10 12:32 PM Page 39

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 Lauricella Land 733-1800 2 million 100 percent 100 percent 2 0 percent Elmwood Center, Co. 733-1212 0 0 percent 26 7 percent Elmwood Office 1200 S. 733-4598 93 percent Park, Midtown Clearview Square, Airline Park, Parkway, Suite Manhattan West 1166 New Orleans 70123 Hertz 299-3000 2 million 100 percent 100 percent 15 0 percent 400, 650 and 909 Investment 10 million 0 percent 150 100 percent Poydras St., Group 0 percent Westpark 400 Poydras St., Suite 1760 New Orleans 70130 Bridgewater 733-9638 2 million 25 percent 100 percent 3 95 percent Elmwood Distribution Properties 734-1897 2 million 75 percent 9 4 percent Center, Mid-City 5612 Jefferson 1 percent Business Park, 1420 Highway Sams Elmwood 70123 Jones Lang 585-2670 2 million 0 percent NA 2 0 percent 1515 Poydras, 1555 LaSalle 585-2678 1 billion NA 25 100 percent Poydras, Pan- Americas Inc. 585-2674 0 percent American Life Center 1515 Poydras St., Suite 1970 New Orleans 70112 Kailas Cos. / 828-9700 2 million 100 percent 100 percent 2 56 percent Chateau Shopping Kailas 832-1234 2 million 0 percent 20 37 percent Center, Kenner Plaza Management 828-9717 17 percent Shopping Center, 3525 N. Regions Bank Causeway Blvd., Building Suite 1040 Metairie 70002 Corporate 581-5005 1 million 0 percent 100 percent 3 0 percent Benson Tower, One Realty Inc. 585-2605 2 million 100 percent 45 75 percent Canal Place, 201 St. Charles 25 percent Bellmeade Shopping Ave., Suite 4411 Center New Orleans 70170 CB Richard Ellis 323-7000 1 million 0 percent 100 percent 1 0 percent One Shell Square 701 Poydras St., 450-8224 1 billion 0 percent 16 96 percent Suite 3870 323-7052 4 percent New Orleans 70139 Marrero Land 341-1635 1 million 100 percent 100 percent 1 49 percent OakRidge Plaza and 341-1636 0 0 percent 15 10 percent Shopping Center, Improvement 340-4277 41 percent Westwood Shopping Association Ltd. Center 5201 Westbank Expressway, Suite 400 Marrero 70072 Place St. 524-4444 1 million 100 percent 0 percent 1 0 percent Place St. Charles Charles 582-1425 1 million 0 percent 20 94 percent 201 St. Charles 6 percent Ave., Suite 1500 New Orleans 70170 Max Derbes Inc. 733-4555 966,000 0 percent 100 percent 1 95 percent Jefferson Complex 5440 Mounes (888) 385-4949 3,500 0 percent 2 5 percent St., Suite 100 733-5518 1 percent New Orleans 70123 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 2010 39A RE_trends2010_retrends2008 11/10/10 12:32 PM Page 40

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 DBIC Property 581-4082 931,000 35 percent NA 1 0 percent Pavilion Shopping Management 581-7823 0 65 percent NA 5 percent Center, The Shops at Inc. 95 percent Canal Place, 100 Conti St. Riverside Market New Orleans Shopping Center 70130 Regis Property 544-7025 928,569 100 percent 100 percent 2 0 percent 1010 Common St., Management 561-6017 30 million 0 percent 8 0 percent 1340 Poydras St. 1010 Common 544-7029 1 percent St., Suite Mezz 300 New Orleans 70112 Select 833-0044 623,566 57 percent 100 percent 3 4 percent 3421 Causeway Properties Ltd. 833-0848 814,159 43 percent 20 67 percent Building, Kmart on Realty 29 percent Veterans 6620 Riverside Drive, Suite 300 Metairie 70003 Coldwell Banker 566-1721 565,427 7 percent 100 percent 3 10 percent 701 Loyola Ave. Commercial 566-1777 0 93 percent 5 85 percent TEC Realtors 566-1775 5 percent 701 Loyola, Suite 401 New Orleans 70150 HGI 207-7575 400,000 0 percent 100 percent 5 10 percent 285 W. Esplanade 4305 S. 259-7603 200,000 100 percent 25 65 percent Building, 2439 Clearview 207-7576 25 percent Manhattan Blvd. Parkway Building Metairie 70006 Gulf States Real (985) 792-4385 304,375 13 percent 47,375 2 65 percent HCA/Medline Estate Services (985) 792-4392 0 87 percent 10 33 percent 196,767 109 New 4 percent Camellia Blvd. Covington 70433 Meltzer 885-8400 265,000 100 percent 100 percent 1 0 percent Northlake Shopping Properties 885-9610 270,000 0 percent NA 0 percent Center, Woodmere 4621 W. 100 percent Square Shopping Napoleon Ave., Center Suite 106 Metairie 70001 Property One 681-3400 203,116 2 percent 44 percent 11 0 percent Federal Fibre Mills, Inc. 681-3438 2 million 98 percent 54 23 percent Cotton Mill 4141 Veterans 43 percent Condominiums, Blvd., Suite 300 Cypress Bend Office Metairie 70002 Park Preferred Realty 455-8644 185,000 100 percent 100 percent 1 10 percent Favrot & Shane 3925 N. I-10 885-4941 185,000 NA 3 65 percent building Service Road, 25 percent Suite 130 Metairie 70002 Crutcher-Tufts 887-9327 173,826 100 percent 100 percent 2 5 percent 546 Carondelet St.; Corp. 887-9373 0 NA 6 95 percent 3545 N. I-10 Service 2750 Lake Villa 0 percent Road; 2750 Lake Drive, Suite 200 Villa Drive Metairie 70002 The Latitude (985) 727-2177 60,000 100 percent NA NA 30 percent 1200 Place Centre, Group (985) 727-2207 130,000 0 percent 1 20 percent Alamosa Business 1600 W. 50 percent Park Causeway Approach, Suite 7 Mandeville 70471 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.

40A New Orleans CityBusiness • November 26, 2010 RE_trends2010_retrends2008 11/10/10 12:32 PM Page 41

Flex-Space (ranked by total square feet)

Property name Leasing agent Address Total square feet Company Region Percent occupied Quoted rent rate Phone Edwards Avenue Commerce Center 200,000 $7-$9 NA 500 Edwards Ave. 93 percent PCS Developments Elmwood 5200 Coffee Drive New Orleans 70115 891-9494 www.HoumasHouse.com Jefferson Business Center 102,209 $6-$13 Jennifer A. Lee 520-524 Elmwood Park Blvd. 63 percent Sealy and Co. Elmwood 150 James Drive E., Suite 140 St. Rose 70087 463-5600 www.sealynet.com Powell Street Commerce Center 89,000 $5-$6 Kevin Kelly 5725 Powell St. 100 percent PCS Developments Harahan 5200 Coffee Drive New Orleans 70115 891-9494 www.HoumasHouse.com Westside II 68,692 $7-$11 Jennifer A. Lee 125 James Drive W. 100 percent Sealy and Co. St. Rose 150 James Drive E., Suite 140 St. Rose 70087 463-5600 www.sealynet.com Sealy Business Center I 67,750 $6-$8 Jennifer A. Lee 115 Canvasback 100 percent Sealy and Co. St. Rose 150 James Drive E., Suite 140 St. Rose 70087 463-5600 www.sealynet.com Service Center 24 53,544 $6-$13 Jennifer A. Lee 150 Teal St. 90 percent Sealy and Co. St. Rose 150 James Drive E., Suite 140 St. Rose 70087 463-5600 www.sealynet.com Sealy Business Center II 49,800 $6-$13 Jennifer A. Lee 110 Widgeon Drive 100 percent Sealy and Co. St. Rose 150 James Drive E., 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 Co. St. Rose 150 James Drive E., Suite 140 St. Rose 70087 463-5600 www.sealynet.com Park Plaza 49,600 $1,400-$1,600 Ken Kuebel 400-8601 621, 623, 625 Distributor's Row 87 percent Ken Kuebel and Associates Elmwood P. O. Box 6275 Metairie 70009 400-8601 St. Charles II 49,275 $7-$13 Jennifer A. Lee 150 James Drive E. 100 percent Sealy and Co. St. Rose 150 James Drive E., Suite 140 St. Rose 70087 463-5600 www.sealynet.com St. Charles I 47,747 $6-$10 Jennifer A. Lee 161 James Drive W. 93 percent Sealy and Co. St. Rose 150 James Drive E., 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

Real Estate Trends 2010 41A RE_trends2010_retrends2008 11/10/10 12:32 PM Page 42

Flex-Space (ranked by total square feet) Property name Leasing agent Address Total square feet Company Region Percent occupied Quoted rent rate Phone Elmwood Plaza 41,600 $9-$12 Katina V. Spera 5612 Jefferson Highway 100 percent Bridgewater Properties Elmwood 5612 Jefferson Highway Elmwood 70123 733-9638 www.bridgewaterproperties.com Canvasback 40,500 $6-$6 Jennifer A. Lee 150 Canvasback Drive 100 percent Sealy and Co. St. Rose 150 James Drive E., Suite 140 St. Rose 70087 463-5600 www.sealynet.com Eastside I 36,357 $8-$13 Jennifer A. Lee 190 James Drive E. 100 percent Sealy and Co. St. Rose 150 James Drive E., Suite 140 St. Rose 70087 463-5600 www.sealynet.com 5612 Jensen St. 36,000 $7-$7 Vincent Vastola/Gerard Henry 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-$13 Vincent Vastola/Gerard Henry 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 $11-$12 Jennifer A. Lee 107 Mallard St. 41 percent Sealy and Co. St. Rose 150 James Drive E., Suite 140 St. Rose 70087 463-5600 www.sealynet.com Service Center 23 23,436 $6-$11 Jennifer A. Lee 143 Mallard St. 23 percent Sealy and Co. St. Rose 150 James Drive E., Ste 140 St. Rose 70087 463-5600 www.sealynet.com Service Center 22 23,436 $9-$13 Jennifer A. Lee 125 Mallard St. 100 percent Sealy and Co. St. Rose 150 James Drive E., Suite 140 St. Rose 70087 463-5600 www.sealynet.com 1305 Distributors Row 22,300 $11-$13 Vincent Vastola/Gerard Henry 1305 Distributors Row, Harahan 92 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 $9-$11 Jennifer A. Lee 115 James Drive W. 100 percent Sealy and Co. St. Rose 150 James Drive E., Suite 140 St. Rose 70087 463-5600 www.sealynet.com 880 Lafayette 3,000 NA-$1,500 Joseph W. Carroll II 880 Lafayette 100 percent Latter & Blum Inc. North Shore 1151 N. Causeway Blvd. Mandeville 70471 (985) 626-5695

42A New Orleans CityBusiness • November 26, 2010 RE_trends2010_retrends2008 11/10/10 12:32 PM Page 43

Shopping centers (ranked by total rentable square feet) Total rentable Shopping center square feet Address Percent occupied Leasing agent Area Year completed Major tenants Leasing company Lakeside Shopping 1.163 million NA Glen Wilson Center NA Greater Lakeside 3301 Veterans Blvd. 1960 Corp. Metairie Metairie Elmwood Village Center 1 million Home Depot, Best Buy, Kmart, Office Max, Sports Will Place 1200 S. Clearview 100 percent Authority Robert M. Israel Parkway 1987 Lauricella & Elmwood Associates Harahan Oakwood Center 960,000 Dillard's, JCPenney, Sears Brian Lade 197 Westbank Expressway 90 percent General Growth West Bank 1966/2007 Properties Chicago Colonial Pinnacle Nord 900,000 Kohl's, Dillard's, Hobby Lobby Wes Hardin du Lac NA Tom Rodgers Interstate 12 and Highway under construction Colonial Properties 21, Covington Trust 1,000,000 square feet Robert B. Aikens & Associates Birmingham, Ala. Covington The Esplanade 897,000 Dillard's, Macy's, Dillard's Men Melodye Grim 1401 W. Esplanade Ave. NA Simon Property Group Kenner 1985 Indianapolis Hammond Square Mall 843,115 JCPenney, Dillards, Target, Sears, Best Buy Rhonda Sharkawy Interstate 12 & U.S. 88 percent Beezie Landry Highway 51 2009 Stirling Properties Hammond Covington Clearview Mall 700,000 Sears, Target, Bed Bath & Beyond, AMC Clearview Tara M. Lubrano 4436 Veterans Blvd. 96 percent Palace 12 Metairie 2002 North Shore Square 621,192 JCPenney, Sears, Dillard's Susan Swan 150 North Shore Blvd. 95 percent Marc Dusang Slidell 1985 Revenue Properties Morguard | Revenue Properties Kenner River Chase Shopping 610,000 Target, Belk, JCPenney, Hollywood Theater, Ross Dress Rhonda Sharkawy Center 95 percent for Less, Marshalls, Cost Plus World Market, Best Buy, Stirling Properties Interstate 12 and Highway 2004 Dress Barn, Shoe Carnvial, Rue 21, Lane Bryant Covington 21 Covington Southland Mall 603,071 JCPenney, Sears, Dillard's Marc Dusang 5953 W. Park Ave. 94 percent Morguard | Revenue Houma NA Properties Kenner Stirling Slidell Centre 345,000 Target, Ross Dress for Less, PetSmart, Shoe Carnival, Rhonda Sharkawy 61121 Airport Road 88 percent Dress Barn, David's Bridal, Academy Sports & Outdoors Stirling Properties Slidell 2003 Covington Pavillion Shopping 287,042 Rouses, Blockbuster, Academy Sport Barrett Cooper Center NA Stirling Properties 1000 W. Esplanade Ave. 1988 New Orleans Kenner Premier Centre 273,000 Albertson's, Bed Bath & Beyond, Barnes & Noble Rhonda Sharkawy 3474 U.S. Highway 190 100 percent Stirling Properties Mandeville 2000 Covington The Shops at Canal Place 260,000 Saks, Banana Republic, Coach Lisa Manzella 333 Canal St. NA Open Realty Advisors New Orleans 1983 Magnolia Shopping 226,844 Kmart, Gordon's of Kenner, Chuck E. Cheese Moise S. Steeg Center 100 percent James V. Kellett 7000 Veterans Blvd. 1980 Metairie Carrollton Shopping 225,000 NA Brian K. Suiter Center NA Carrollton Central 3300 S. Carrollton Ave. under construction Plaza Associates Carrollton Metairie

Real Estate Trends 2010 43A RE_trends2010_retrends2008 11/10/10 12:32 PM Page 44

Shopping centers (ranked by total rentable square feet) Total rentable Shopping center square feet Address Percent occupied Leasing agent Area Year completed Major tenants Leasing company Holiday Park 224,500 Carr Drugs, O'Reilly Automotive, Papa Johns, Bank of David Waltemath 3500-3580 Holiday Drive 100 percent America, H&R Block Classic Properties Algiers 2006 New Orleans Riverwalk Marketplace 197,000 Gap, Brookstone, Clarks, Chico's, LOFT, Southern Food Frank Quinn 1 Poydras St. NA & Beverage Museum, Crescent City Cooks General Growth New Orleans 1986 Properties Chicago Seville Plaza Shopping 187,515 Albertson's, Big Lots, Aaron's Rent to Own Beezie Landry Center 98 percent Stirling Properties 1905 W. Thomas St. 2000 Covington Hammond Riverlands Shopping 185,052 Rue 21, Stage, Hollywood Cinema Brian Lade Center 91 percent General Growth 1312-1524 W. Airline 1965 Properties Highway Chicago LaPlace Oak Ridge Plaza 179,803 Stage, Aaron Rents, Budget Saver, Tuesday Morning, Vincent Vastola 1951-1999 Barataria Blvd. 99 percent Dollar Tree Marrero Land and Marrero 1978 Improvement Association Ltd. Marrero Northlake Shopping 163,000 Fresh Market, Office Depot, Stage, Gordon's John Meltzer Center 89 percent Meltzer Properties 1816-1896 N. Causeway 1981 Metairie Approach Mandeville Gentilly Shopping Center 160,000 Family Dollar, Cash America, AutoZone, Rainbow Judy Slack 3043-3163 Gentilly Blvd. 83 percent Fashions, Payless Shoes, Radio Shack, Simply Fashions, NAI Latter & Blum Inc. New Orleans 1964 Sally's Beauty Supply, Capital One Bank Realtors New Orleans Midtown Square 152,212 Office Depot, Hobby Lobby, Stage Will Place Shopping Center 98 percent Robert M. Israel 1555 Gause Blvd. 1997 Lauricella & Slidell Associates Harahan Riverside Market 146,000 Winn-Dixie, Walgreens, Stein-Mart, Pier 1, Petco Barrett Cooper Shopping Center 97 percent Stirling Properties 5300 Tchoupitoulas St. 1988 New Orleans New Orleans Riverside Market 146,000 Winn-Dixie, Stein-Mart, Walgreens, Petco, Pier 1 Barrett Cooper Shopping Center 97 percent Stirling Properties 5300 Tchoupitoulas St. 1988 New Orleans New Orleans West Lakeshore 145,000 Robert Fresh Market, Fidelity Homestead, Chateau Cafe R. Tom Lupo Shopping Center 98 percent 137-149 Robert E. Lee renovated 2006 Blvd. Lakefront Plaza 190 Shopping 115,135 Rite Aid, Tuesday Morning, Family Dollar, Big Lots Chris Abadie Center 96 percent Stirling Properties 114-196 Gause Blvd West 1974 Covington Slidell Lapalco Village Shopping 111,221 Winn-Dixie, Family Dollar, Cash America Judy Slack Center 94 percent NAI Latter & Blum Inc. 5901-5999 Lapalco Blvd. 1986 Realtors Marrero New Orleans Belle Meade 108,230 Breaux Mart, Dollar General, Neon, Hallmark, AT&T Andrea Arons 605 Lapalco Blvd. 92 percent Huseman Gretna 1981 Corporate Realty Inc. New Orleans Westwood Shopping 100,575 Winn-Dixie, It's Fashion Metro, Dollar General, Athletes Vincent Vastola Center 85 percent Foot Marrero Land and 1020-1082 Westbank 1974 Improvement Expressway Association Ltd. Westwego Marrero M.A. Green Shopping 100,423 O'Reilly's Auto, Bridge House, Family Dollar, Cash Judy Slack Center 98 percent America NAI Latter & Blum Inc. 7801-7951 Airline Drive 1967 Realtors Metairie New Orleans *Only shopping centers with 25,000 or more total rentable square feet are listed. 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.

44A New Orleans CityBusiness • November 26, 2010 RE_trends2010_retrends2008 11/10/10 12:32 PM Page 45

Shopping centers (ranked by total rentable square feet) Total rentable Shopping center square feet Address Percent occupied Leasing agent Area Year completed Major tenants Leasing company Airline Park Shopping 100,000 Save-A-Lot, Family Dollar, Auto Zone Will Place Center 97 percent Robert M. Israel 6500-6600 Airline Drive 1962 Lauricella & Metairie Associates Harahan Lafreniere Plaza 97,805 T. J. Maxx, A-1 Appliances, Tiffin Inn, Custom Furniture Judy Slack 6601 Veterans Blvd. 94 percent NAI Latter & Blum Inc. Metairie 1982 New Orleans Manhattan Shopping 93,000 Marshalls, Office Depot Will Place Center 70 percent Robert M. Israel 1500 Westbank 2008 Lauricella & Expressway Associates Harvey Harahan Pontchartrain Place 91,288 H&R Block, Eyemasters, Snap Fitness, Allstate Insurance Judy Slack Shopping Center 91 percent NAI Latter & Blum Inc. 3501 Severn Ave. 1978 Realtors Metairie New Orleans Bullard Square Shopping 90,000 NA Wade T. Verges Center NA 7500 Bullard LLC 7500 Bullard Ave. 2004/renovated New Orleans Eastern New Orleans 2008 Old Metairie Village 83,429 CC's Gourmet Coffee, Planet Beach, Subway, Massage Barrett Cooper Shopping Center 90 percent Envy Stirling Properties 701 Metairie Road 1987 Covington Metairie Woodmere Square 79,740 CitiTrends, Ebony Beauty, Family Dollar, H&R, John Meltzer Shopping Center 98 percent McDonald's Meltzer Properties 3407 Lapalco Blvd. 1985 Metairie Harvey Donna Villa Shopping 74,505 Citi Trends, O'Reilly's Joanne Hughes Center 90 percent Property Management 9601 Chef Menteur 1960 Group Highway New Orleans Eastern New Orleans Holiday Square Shopping 73,000 Rouses Grocery, Burks Barrett Cooper Center 93 percent Stirling Properties 4001 Gen. Degaulle Drive 1999 New Orleans Algiers The Village Center 70,000 Auto Zone, Harry's Ace Hardware, Family Dollar Jack Stumpf 4800-4860 Gen. Meyer 61 percent Jack Stumpf & Ave. 1970 Associates New Orleans Harvey Barlon Plaza Shopping 67,415 Walgreens, Dollar General, Big Lots, Kajan Eben T. Watkins Center 100 percent Eben Watkins & 7101 Veterans Blvd. 1961 Associates Metairie New Orleans Oakridge Place Shopping 60,722 Pier 1, Langenstein's, Rite Aid, PJ's Coffee Barrett Cooper Center 98 percent Stirling Properties 800 Metairie Road 1978/renovated Covington Metairie 1994 Read Row Shopping 56,612 Orleans Furniture & More Joanne Hughes Center 80 percent Property Management 7040-7094 Read Blvd. 1980 Group Eastern New Orleans New Orleans Jackson Brewery 54,000 Chico's, Cajun Clothing, Pat O's, Riverview Room Arnold Cooper Millhouse 90 percent Dbic Property 600 Decatur St. 1996 Management French Quarter New Orleans Independence Mall 52,336 Chili's Grill and Bar, Sake Cafe, Phoenicia Stephanie Hilferty 4241 Veterans Blvd. 89 percent SRSA Commercial Metairie 1983 Real Estate Inc. Metairie Hollycrest Plaza Inc. 50,000 Finish Line, Bike Zone, Four Seasons Susie R. Bishop 600 N. Highway 190, Suite 100 percent 212 1985 Covington *Only shopping centers with 25,000 or more total rentable square feet are listed. 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 2010 45A RE_trends2010_retrends2008 11/10/10 12:32 PM Page 46

Shopping centers (ranked by total rentable square feet) Total rentable Shopping center square feet Address Percent occupied Leasing agent Area Year completed Major tenants Leasing company 1200 Place 50,000 La Carreta's Restaurant Robert G. Tufts 1200 W. Causeway 93 percent KW Commercial Approach 1997 Mandeville Mandeville Festival Plaza 50,000 NA Wade T. Verges 8700 Lake Forest Blvd. 0 percent Verges Properties Eastern New Orleans 1990/renovation New Orleans incomplete Crowder Retail Center 48,000 Daiquiri Shop, Subway, Mobile One David Wright 5741 Crowder Road 25,600 percent Coldwell Banker Eastern New Orleans 2009 Commercial TEC Realtors New Orleans Lapalco Square 48,000 Party City, Blockbuster Video Jack Stumpf 1545 Lapalco Blvd. 75 percent Jack Stumpf & Harvey 1984 Associates Inc. Harvey Bullard Corporate Center 40,000 NA Wade T. Verges 5555 Bullard Ave. 90 percent Verges Properties Eastern New Orleans 2004/renovated New Orleans 2006 Slidell Square 36,700 BFL Furniture, 5-Minute Oil Change Joanne Hughes 2131-2165 Gause Blvd. 91 percent Property Management St. Tammany 1980 Group New Orleans The Marketplace at 35,000 Hard Rock Cafe, Urban Outfitters, Landry Restaurant Arnold Cooper Jackson Brewery 100 percent DBIC Property 400 N. Peters St. 1878 Management Inc. French Quarter New Orleans Avondale Square 32,000 CVS, Family Dollar Arnold Cooper 2800 Highway 90 80 percent DBIC Property Avondale 1988 Management New Orleans Parkview Plaza 30,000 Dollar General, Great Harvest Bread Co., Megumi Sushi Judy Slack 4700 Highway 22 87 percent NAI Latter & Blum Inc. Mandeville NA New Orleans Zuppardo Center 30,000 NA Jack Stumpf 400 Lapalco Blvd. 100 percent Jack Stumpf & Gretna 1980 Associates Inc. Harvey Robert E. Smith 30,000 Lakeview Grocery, West Marine R. Tom Lupo Shopping Center 100 percent 801-833 Harrison Ave. renovated 2006 Lakeview Borders Center 29,736 Borders Ronald Robert Rauber 3131 Veterans Blvd. 86 percent Select Properties Ltd. Metairie 1997 Realty Metairie 9900 Lake Forest Blvd. 29,383 Medical Supplies David Wright 9900 Lake Forest Blvd. 15 percent Coldwell Banker Eastern New Orleans 2010 Commercial TEC Realtors New Orleans Belle Terre Shopping 26,000 NA Joe Maerke Center 75 percent Jack Stumpf & 1152-1180 Terry Parkway 1985 Associates Terrytown Harvey Chalmette Shopping 25,480 Dollar Tree Joanne Hughes Center 50 percent Property Management 1918 E. Judge Perez Drive 1977 Group St. Bernard New Orleans *Only shopping centers with 25,000 or more total rentable square feet are listed. 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.

46A New Orleans CityBusiness • November 26, 2010 RE_trends2010_retrends2008 11/10/10 12:32 PM Page 47

Warehouse space (ranked by total square feet)

Property name Address Total square feet Rail service Leasing agent Area Percent occupied Loading dock Rent range per square foot Leasing company Delchamps Facility 665,867 Y not for rent Ben Derbes 407 Pride Blvd. 100 percent Y Max J. Derbes Inc. Hammond New Orleans Elmwood Distribution Center 411,689 N $3.75-$5.25 Robert D. Bridgewater 5600 Jefferson Highway 94 percent Y Katina V. Spera Elmwood Bridgewater Properties New Orleans Riverbend Distribution Center I 367,370 N $3.75-$4.25 Trimble Green 100 Riverbend Blvd. 52 percent Y NAI/Latter & Blum Inc. St. Rose New Orleans 1420 Sam's Ave. 357,790 Y NA Robert D. Bridgewater 1420 Sam's Ave 100 percent Y Bridgewater Properties Elmwood New Orleans Airline Highway Commerce Center 275,000 Y $5 Kevin Kelly 10057 Airline Drive 60 percent Y PCS Developments St. Rose New Orleans 6200 Humphreys St. 267,500 N $3.25-$3.50 Al Davis 6200 Humphreys St. 74 percent Y Duff Friend Harahan Latter & Blum New Orleans Office Suites at 1050 259,251 N $3 Edward Halpern 1050 S. Jefferson Davis Parkway 75 percent Y SJD-CC Mid-City New Orleans James Distribution Center I 253,614 N $5.75-$7 Jennifer A. Lee 310 James Drive 100 percent Y Sealy & Co. Inc. St. Rose St. Rose River Road Commerce Center 242,400 Y $5 Kevin Kelly 640 River Road 67 percent Y PCS Developments Westwego New Orleans 800 Atlantic St. 240,000 N $5 Kevin Kelly 800 Atlantic St. 33 percent Y PCS Developments Algiers New Orleans 5200 Coffee Drive 225,000 Y $5 Kevin Kelly 5200 Coffee Drive 100 percent Y PCS Developments Uptown New Orleans Mid-City Business Park 217,000 Y $3.75-$4.50 Robert Bridgewater 300 Jefferson Highway 80 percent Y Katina V. Spera Jefferson Bridgewater Properties New Orleans 6040 Beven St. 213,600 N $5 Kevin Kelly 6040 Beven St. 75 percent Y PCS Developments Elmwood New Orleans Labarre Business Center 210,000 N not for rent Gerard E. Henry 901 Labarre Road 100 percent Y Max J. Derbes Inc. Labarre Business Park New Orleans Greater New Orleans Warehouse 200,000 Y NA Robert D. Bridgewater Services Partnership 100 percent Y Bridgewater Properties 700 Edwards Ave. New Orleans NA 1000 Elmwood Park Blvd. 193,859 N NA Robert Bridgewater 1000 Elmwood Park Blvd. 100 percent Y Katina Spera Elmwood Bridgewater Properties New Orleans 1008 Elmwood Park Blvd. 193,859 N NA Robert Bridgewater 1008 Elmwood Park Blvd. 100 percent N Katina Spera Elmwood Bridgewater Properties New Orleans 600 St. George Ave. 180,025 N $2.75-$3 David B. Quinn 600 St. George Ave. 100 percent Y Max J.Derbes Inc. Elmwood Business Park New Orleans Riverbend Distribution Center II 180,000 N $4-$8 Trimble Green 101 Delta Drive 100 percent Y NAI/Latter & Blum Inc. St. Rose New Orleans Building 7 177,600 N $3.95-$11 Charles M. Mullin 200 Crofton Road 77 percent Y The Mullin Co. Inc. Kenner St. Rose Michoud Boulevard Commerce 176,000 N $5 Kevin Kelly Center 70 percent Y PCS Developments 4200 Michoud Blvd. New Orleans New Orleans

Real Estate Trends 2010 47A RE_trends2010_retrends2008 11/10/10 12:32 PM Page 48

Warehouse space (ranked by total square feet)

Property name Address Total square feet Rail service Leasing agent Area Percent occupied Loading dock Rent range per square foot Leasing company Edwards Distribution Center 160,593 N not for rent Gerard Henry 1300 Edwards Ave. 100 percent Y Max J. Derbes Inc. Elmwood New Orleans Parkway Center II 136,000 N $4-$4.75 Trimble Green 700 Elmwood Park Blvd. 100 percent Y NAI/Latter & Blum Inc. Elmwood Business Park New Orleans Industry Road Distribution Center 116,320 N $2.95-$3.75 David B. Quinn 940 Industry Road 80 percent Y Max J. Derbes Inc. Kenner New Orleans 7400 Townsend Place 112,500 N $2.75 Duff Friend 7400 Townsend Place 100 percent Y Latter & Blum Eastern New Orleans New Orleans 1000 Elmwood Park 104,000 N $7-$10 Robert Bridgewater 1000 Elmwood Park Blvd. NA Y Katina V. Spera Harahan Bridgewater Properties New Orleans 1008 Elmwood Park 104,000 N $7-$10 Robert Bridgewater 1008 Elmwood Park Blvd. 0 percent Y Katina V. Spera Harahan Bridgewater Properties New Orleans 2601-2603 L&A Road 103,209 N $5.50 Gerard E. Henry 2601 L&A Road 64 percent Y Max J. Derbes Inc. Labarre Business Park, Metairie New Orleans 5042 Bloomfield St. 100,000 N not for rent David B. Quinn 5042 Bloomfield St. 100 percent Y Max J. Derbes Inc. Elmwood Business Park New Orleans 4301 Poche Court 92,667 N NA 4301 Poche Court West 41 percent Y New Orleans East 132 Harbor Circle 92,645 N $2.50-$2.75 Duff Friend 132 Harbor Circle 38 percent Y Latter & Blum Eastern New Orleans New Orleans 61450 Lemieux Blvd. 90,000 N $16,700 Joseph W. Carroll II 61450 Lemieux Blvd. 0 percent Y Latter & Blum Inc. Big Branch Mandeville Brookhollow Center 89,335 N $4.50-$6.50 Robert Bridgewater 5800 Jefferson Highway 86 percent Y Katina Spera Elmwood Bridgewater Properties New Orleans Brookhollow/River Road 85,083 N $4 David B. Quinn 5801 River Road 57 percent Y Max J. Derbes Inc. Elmwood Business Park New Orleans Halpern Warehouse 82,500 N NA Edward Halpern 1148 South Peters St. 0 percent Y SJD-CC Warehouse District New Orleans 803 Jefferson Highway 78,450 N $3.95 Gerard E. Henry 803 Jefferson Highway 0 percent Y Max J. Derbes Inc. Jefferson New Orleans SJD-CC 69,986 N NA Edward Halpern 900 Jefferson Davis Parkway 100 percent Y SJD-CC Mid-City New Orleans Parkway Center I 65,504 N $4.25-$8.50 Trimble Green 550 Elmwwod Park Blvd. / 5400 Pepsi 96 percent Y NAI/Latter & Blum Inc. St. New Orleans Elmwood Business Park 155 Brookhollow Esplanade 65,324 N NA Robert D. Bridgewater 155 Brookhollow Esplanade 100 percent Y Katina V. Spera Jefferson Bridgewater Properties New Orleans Cypress Point Business Center 61,444 N $4.25-$8.75 Trimble Green 660-668 Distributors Row 96 percent Y NAI/Latter & Blum Inc. Elmwood Business Park New Orleans Riverbend Service Center 44,273 N $8-$10 Trimble Green 1000 Riverbend Blvd. 100 percent Y NAI/Latter & Blum Inc. St. Rose New Orleans 246 Harbor Circle 44,000 N not for rent David B. Quinn 246 Harbor Circle 100 percent N Max J. Derbes Inc. Lakratt Business Park 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

48A New Orleans CityBusiness • November 26, 2010 RE_trends2010_COVERS_REtrends_covers 11/8/10 10:08 AM Page 993

Warehouse space (ranked by total square feet)

Property name Address Total square feet Rail service Leasing agent Area Percent occupied Loading dock Rent range per square foot Leasing company 151 Brookhollow Esplanade 43,560 N NA Robert D. Bridgewater 151 Brookhollow Esplanade 100 percent Y Katina V. Spera Jefferson Bridgewater Properties New Orleans 1201 Sams Avenue 40,000 N $4-$6 Robert D. Bridgewater 1201 Sams Ave. 0 percent Y Katina V Spera Elmwood Bridgewater Properties New Orleans 4471 Michoud Blvd. 35,000 N $2 Skip Weber 4471 Michoud Blvd. 0 percent Y NAI/Latter & Blum Inc. New Orleans Realtors New Orleans 924 Kenner Ave. 30,000 Y $4.50 Rich Mauti 924 Kenner Ave. NA N Mauti Meredith Scoggin Kenner Properties Mandeville 4277 Poche Court West 29,242 N $10-$15 4277 Poche Court W. 0 percent Y New Orleans East 1021 Al Davis Road 21,000 N not for rent Gerard E. Henry 1021 Al Davis Road 100 percent N Max J. Derbes Inc. Elmwood Business Park New Orleans Airport Road Warehouse 20,000 N $6.50 Joe Kramer 43254 S. Airport Road 0 percent N Stirling Properties Hammond Covington 13901 Old Gentilly Road 18,135 N $2-$3 13901 Old Gentilly Road 0 percent Y New Orleans East Warehouse J 15,000 N $4.80 Charles M. Mullin 802 Short St. 0 percent Y The Mullin Co. Inc. Kenner/St. Charles St. Rose Skyway Park 14,648 N NA Cassie Goldsboro 30 Crofton Road 100 percent Y Preferred Realty Inc. Kenner Metairie The Edson Building 13,222 N $9 -$14 Joseph W. Carroll II 21357 Marion Lane 52 percent NA Latter & Blum Inc. Mandeville Mandeville 38189 Commercial Court 12,000 N $5 Skip Weber 38189 Commercial Court 50 percent N NAI/Latter & Blum Inc. Slidell Realtors New Orleans Pelican Service Center 10,500 N not for rent Ben Derbes 1401 Distributors Row 100 percent N Max J. Derbes Inc. Elmwood Business Park New Orleans 2530 Lexington Ave. 7,900 N NA Charles M. Mullin 2503 Lexington Ave. NA Y The Mullin Co. Inc. Kenner/St. Charles St. Rose 129 23rd St. 5,000 N $7.25 Skip Weber 129 23rd St. 100 percent Y NAI/Latter & Blum Inc. Kenner Realtors New Orleans Warehouse E 4,900 N $4 Charles M. Mullin 802 Short St. 0 percent Y The Mullin Co. Inc. Kenner St. Rose 22 Hickman St. 4,800 N $7.63 Skip Weber 22 Hickman St. 0 percent N NAI/Latter & Blum Inc. Kenner Realtors New Orleans 212 23rd St. 3,805 N NA Cassie Goldsboro 212 23rd St. 100 percent N Susan Wallace Kenner Preferred Realty Metairie 1512 Carondelet St. 3,126 N NA Skip Weber 1512 Carondelet St. 0 percent N NAI/Latter & Blum Inc. New Orleans Realtors New Orleans 811 Ramon St. 3,000 N $7 Joseph W. Carroll II 811 Ramon St. 100 percent N 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 RE_trends2010_COVERS_REtrends_covers 11/8/10 10:08 AM Page 994

The COMMERCIAL INVESTMENT DIVISION of the New Orleans Metropolitan Association of Realtors® congratulates its Achievement Award winners - top commercial real estate producers of 2009

1st Row (left to right): Martin O. Miller III, CCIM, Colleen Berthelot, CCIM, SIOR, Lucy Chun, Judy Slack 2nd Row: Meg Carrone, CCIM, Jeanne Booth, CCIM, CPM, David R. Dominguez, Michael Wilkinson, Skip Weber, CCIM 3rd Row: Paul Richard, Andrea Huseman, CCIM 4th Row: Gaines Seaman, Joseph G. Gorman III, Jennifer A. Lee, CCIM, SIOR Top Row: James Barse, CCIM, SIOR, Richard E. Juge, CCIM, SIOR, Kenneth Hurst, CCIM, Daniel P. Poulin, CCIM, SIOR, David B. Quinn, SIOR Award Winners Not Pictured: Sandra Corrigan, SIOR, Ben Derbes, Herbert Duvic, CCIM, SIOR, Duff Friend, SIOR, Gerard E. Henry, SIOR, Keith G. Henry, SIOR, Schaffer Mickal, Sandra Preston, Steve Reisig, CCIM, Brian Rourke, CCIM, SIOR, Larry G. Schedler, CCIM, Rhonda Sharkawy, Barry Spizer, CCIM, Robert E. Talbot, CCIM

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