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ULI Louisiana Take 5: Real Estate Breakfast 12.14.15

Take 5: ULI Louisiana & NOLA Business Alliance Real Estate Breakfast Series

Date: December 14, 2023

Location: NOLA Business Alliance

 

  • Stirling Properties’ Justin Landry, Senior VP of Development & Finance at Stirling Properties shared a holistic outlook of various real estate markets in the Gulf South, primarily commercial/office space, multi-family residential, and retail.

  • Availability of retail space for lease is at its lowest in Greater New Orleans due to high construction and financing costs. This equates to a high demand for space! Largest “buy-sell gap” in decades.

  • Birmingham and NOLA are the largest markets in the Gulf South. Almost identical in size, by retail square footage.

  • Baton Rouge and Lafayette are “king” on overall highest occupied markets in the Gulf South! Both registered some of the highest 12-month rent growth across the Gulf South.

  • Jackson has the highest amount of retail SF per person (80 SF/person). Birmingham and Mobile are close second (73 SF/person).

  • Huntsville has the lowest amount of retail SF per person (54 SF/person). Huntsville is the epicenter of new retail development, with 24 projects under construction, totaling approx. 1M SF. Nearly 45% of retail under development/construction across the Gulf South is in Huntsville. This is due to high paying jobs and strong net new population growth.

  • Homegrown Holidays Small Business Spotlight featured: Mark Rosenbaum of Rosetree Blown Glass Studio + Gallery in Algiers Point and Trillistic Raw Juice Bar in New Orleans East.

 

Take 5 is a five-minute recap of key takeaways from ULI Louisiana’s latest events. In the spirit of member connectivity and continuous conversations, we invite you to pop in and catch-up on the topics you may have missed! Take 5 is contributed by 30|90 Marketing.



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