Mid-City Market – January Update

Mid-City Market Progress - January 2013

Framing Walls and Slab at Winn-Dixie – 1/12/13

Mid-City Market Progress - January 2013

Steel Framing, Slab, Site Work at Retail A/B – 1/8/13

Since last month’s update, we have moved forward rapidly in the site and building construction at Mid-City Market.  At Winn-Dixie, despite the rainy weather, we have poured almost all of the concrete slab for the building with the remainder to be poured this week.  We have constructed two of the exterior load bearing metal stud framing walls and after the third wall is constructed, we will be erecting structural steel on the outside of the building.

At the former retail building we are renovating, we have completed the metal stud work at the perimeter entrances. We are finalizing the preparation for roof work which will be underway this month.  The two small-shop buildings fronting Carrollton are progressing quickly as well.  The “Retail B” building slab was poured Saturday and the “Retail A” building slab will be poured by the end of this week.  Over the next two weeks the metal stud framing of the walls in both buildings will take place and be immediately followed by structural steel.

We are excited to announce that we have executed a lease with LA Nail Spa for 1,551 square feet in one of the small shop buildings.  We are seeing strong leasing activity for the remaining space and are working towards opening 100% occupied, while seeking the right tenant mix for long-term success.

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About Townsend Underhill, MBA, CCIM

Mr. Underhill serves as Senior Vice President of Development; in that role, he is responsible for running the Development Division of Stirling Properties. Stirling’s Development focus is on seeking, evaluating, and implementing new development and re-development opportunities across various product types with a focus on Retail and Office Development. Recent noteworthy development projects include Mid-City Market and Magnolia Marketplace in New Orleans, Fremaux Town Center in Slidell (mixed-use), River Chase in Covington (mixed-use), MacArthur Village in Alexandria, Kings Country Village in Pineville and various Walgreens throughout Louisiana. Mr. Underhill also plays an integral role in New Business Development, Asset Management, Facility Management, and third-party client relationships. Mr. Underhill currently serves as the ICSC State Director for Louisiana. He is also highly active in GNO Inc., the Greater New Orleans economic development group, as a member of the Next Generation Board, as well as sitting on GNO Inc.’s Public Policy and Development Committees. He serves on the Board of Directors for West St. Tammany Chamber of Commerce. Mr. Underhill holds the designation of Certified Commercial Investment Member (CCIM), as well as the ICSC Certified Retail Property Executive (CRX). He is a licensed Real Estate Broker in both Louisiana and Kentucky. Prior to joining Stirling Properties in 2007, during his time at Underhill Associates, Mr. Underhill was a Junior Partner with Underhill & Associates. In that capacity he was responsible for directing the Development, Brokerage, and Accounting divisions of the full-service real estate company. Mr. Underhill oversaw the operations, management, and redevelopment of Underhill & Associates multi-family portfolio consisting of 21 properties. In addition to his extensive multi-family experience, Mr. Underhill was also responsible for directing over $200 million in acquisition, development and financing volume. Mr. Underhill has a bachelor of Business Administration degree in Real Estate from Arizona State University, W.P. Carey College of Business where he graduated Magna Cum Laude. He also holds a Master of Business Administration degree from the University of Georgia, Terry College of Business, with specializations in Real Estate and Entrepreneurship.

View all posts by Townsend Underhill, MBA, CCIM

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  1. Mid-City Market – February Update | Stirling Insights - February 19, 2013

    […] last month’s update, we have moved forward rapidly in the site and building construction at Mid-City Market in New […]

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