Uptown Commercial Historic Development Now Complete

Ground Floor Fully Leased to Four Commercial Tenants, with DEVENEY as Anchor Tenant

(NEW ORLEANS) – October 19, 2022 – The historic mixed-use redevelopment of 1733 Constantinople Street is now complete and offers a new destination in the active Baronne Street corridor in Uptown New Orleans.

The 11,600-square-foot, two-story building is adjacent to Martin Wine Cellar and features four commercial tenants. DEVENEY, a full-service marketing agency, is the anchor tenant at 1733 Constantinople Street. The three remaining commercial tenants face Baronne Street and include:

·       Zee’s Pizzeria, now open at 3914 Baronne St.

·       Lucy Boone Ice Cream, coming soon at 3916 Baronne St.

·       Sol Cura, hair & skincare, slated for this fall at 3920 Baronne St.

The newly revitalized building offers a variety of space and sizes for commercial use on the ground floor, created with the goal of providing an Uptown home for local, growing companies, as well as four residential apartment units on the second floor. Genevieve Douglass and Henry Shortess at SVN | Urban Properties exclusively listed the retail units in the development.

“Assisting the owners of this building with their vision for the redevelopment and helping to bring it to life, was such a rewarding project,” said Genevieve Douglass, the leasing agent for SVN | Urban Properties. “We wanted to provide a mix of public-facing businesses to drive traffic to the block and cater to the neighborhood residents. It was a great opportunity to showcase a revered marketing leader and give three other outstanding local businesses their first brick-and-mortar locations and a storefront for their patrons to visit.”

The building was originally a theater built in 1917, and local architecture firm, CICADA, and general contractor, Perrier Esquerré Contractors, brought this historic property back to life after being out of commerce for more than a decade. This new development contributes to the vibrant Milan neighborhood, situated across from Beth Biundo Sweets, and in between two nearby and noteworthy hotel renovations, The Chloe and Columns.

“Part of our agency’s culture and history is restoring deteriorated historic property (starting in the Garden District 25 years ago, then the Faubourg Marigny, then Magazine Street in the Lower Garden District) and contributing to the economic strength of its neighborhood,” said John Deveney, president of DEVENEY. “DEVENEY is proud to contribute to the incredible renaissance of the Baronne Commercial District in the Milan neighborhood of New Orleans. Embracing the remnants of memories past has made for an inspiring workspace that cultivates creativity and collaboration.”

Henry Shortess & Carly Ibach - 2022 Excellence in Construction & Real Estate honorees

Announcing the 2022 Excellence in Construction & Real Estate honorees

Architects
Keith Barre’
Blake Bergeron
Justin Greenleaf
Kristine Kobila
David M. Lachin Jr.
Javier Marcano
Vanessa Schneider
Erik Wismar

Commercial Real Estate Agents
Carly Ibach
Gordon McLeod
Henry Shortess
Melissa S. Warren

Developers
Matthew Altier
Vanessa Levine
Thomas Richards

Engineers
Mary Schambeau Johnson
Johann Palacios
Morgan Rongey

Estimator
James P. Christovich

General Contractors
Jace Kuhlmann
Bryan Masters
Ryan D. Mayer
Barry J. Siegel

Lending/Bonding Agent
Remi Bourque

Project Managers
Stephen Abadie
Travis Bernhard
Sean Chaney
Max Ferran
Casey Ginder
Kevin Sprehe
Pat Thomas
Bill Tomasak

Residential Real Estate Agents
Delisha Boyd
Kristen Boyd
L. Bryan Francher
William “Buddy” King
Margaret Brady Maxwell
Linda Nguyen
Rodney Nugent
Jiarra Rayford
Jeri Wheeler
Katie Witry

Rising Star in Construction
Dane Landry
Charlie Ward
Tom Weathers

Rising Star in Real Estate
Scott Matthews
Justin W. Thibodeaux

Subcontractors
Marc Cordes
Ben Gootee
Dwayne Hammer Sr.

A special Excellence in Construction and Real Estate insert profiling all honorees will run in the July 15 issue of CityBusiness.

Commercial Real Estate Firm Celebrates its Seventh Year in Business

Commercial Real Estate Firm Celebrates its Seventh Year in Business

SVN | Urban Properties Exceeds Goals, Grows Team & Joins Global Network

New Orleans (May 5, 2022) – SVN | Urban Properties, a local commercial brokerage, property management and development firm, is celebrating its 7th anniversary, marking a record-breaking year exceeding goals, growing its team, and joining the SVN global network.   

Led by its four Managing Directors, Eugene Schmitt, Tyler Robinson, Timothy Thompson and Michael Bucher, SVN | Urban Properties offers its expert commercial real estate brokerage, development and property/asset management services across Southeast Louisiana. This anniversary marks numerous milestones for the company: 

• The firm’s brokerage team had their best year to date in 2021, and the firm’s total real estate transactions eclipsed $300,000,000 since the company was formed (May 2015).

• The property/asset management team now manages more than 550,000 square feet and asset manages more than $100 million in real estate assets.

• The firm’s development/project management team has seven active projects with a large-scale development on the horizon this summer.

• This past year, the firm’s partners also launched the Urban Venture Fund with plans to deploy capital into regional real estate investments over the next several years.

This positive trajectory and momentum led the firm to join one of the industry’s most recognized brands, SVN®. Operating as SVN | Urban Properties, and becoming the New Orleans franchise, the firm is capitalizing on the expanded reach of SVN International Corp. (SVNIC, headquartered in Boston, MA) and joins an international network of 1,600+ Advisors in 200 offices serving over 500 markets. The strategic partnership allows the firm to gain unlimited access to industry-leading commercial real estate tools, technology, and systems that maximize clients’ time and returns.

“We formed Urban Properties during Jazz Fest 2015, so our anniversary always has an extra vibrancy and meaning to it,” said Tyler Robinson, Partner and Managing Director at SVN | Urban Properties. “We are delighted to be able to celebrate back at the fest this year with our larger-than-life team. We are amazed at how far we’ve come and are excited about everything we will continue to achieve. We would not be where we are today without the team we’ve built and our clients believing in and investing in us along the way.”

To service the increased business opportunities over the last year, the firm has grown its team to 11 professionals and is actively hiring – both in operations and on its licensed agent advisory team. SVN | Urban Properties is entering its eighth year in business and is located at Urban HUB in the Lower Garden District at 1582 Magazine Street, New Orleans.

We are now, SVN | Urban Properties

Urban Properties Expands and Strengthens Client Services By Joining SVN® in New Orleans

The strategic partnership brings new and expanded brokerage and property management services to the greater New Orleans metropolitan area.

New Orleans, La (March 8, 2022) – Urban Properties Real Estate, LLC, a commercial real estate brokerage, development and property management firm based in New Orleans, is excited to announce it has joined one of industry’s most-recognized brands, SVN®. Operating as SVN | Urban Properties, the firm now harnesses the expanded reach of SVN International Corp. (SVNIC), headquartered in Boston, MA, joining an international network of 1,600+ Advisors in 200 offices serving over 500 markets.

Led by its four partners, Managing Directors Eugene Schmitt, Tyler Robinson, Michael Bucher and Timothy Thompson, SVN | Urban Properties offers its expert commercial real estate brokerage and property/asset management services across Southeast Louisiana. Through this new strategic partnership, the entire SVN | Urban Properties team gains unlimited access to industry leading-edge commercial real estate tools, technology, and systems that maximize clients’ time and return. 

“Our top priority is getting the most value for our clients and we believe national exposure via a top commercial real estate brand that markets to the entire brokerage community is the most effective way to do that,” says Eugene Schmitt, Partner/Managing Director of SVN | Urban Properties. “With SVN we gain expanded visibility and marketing dexterity to deliver the best value possible no matter the geography or asset class. We now not only reach business owners across town, but also investors across the globe.”

SVN is the only major commercial real estate brand that markets all its qualified properties to the entire brokerage and investment community. Participating in approximately $12.5 billion in sales and leasing transactions in 2020, SVN Advisors shared commission fees with co-operating brokers in order to close more deals in less time and at the right value for clients. Advisors also reap the benefits of our SVN | Live™ Open Sales Call, cloud-based technology and national product councils. This open, transparent, and collaborative approach to real estate is the SVN Difference.

To learn more about SVN | Urban Properties, visit www.urbanproperties.com.

About SVN | Urban Properties

SVN | Urban Properties was founded in 2015 to serve clients’ real estate needs in the Greater New Orleans market. As part of the SVN® brand, they are able to represent clients in sales, leasing, and management in over 500 markets. SVN Advisors represent more than 6,000 clients worldwide in auction services, corporate real estate, distressed properties, golf & resort, hospitality, industrial, investment services, land, medical, multifamily, office, retail, self-storage, and single tenant investments. All SVN® offices are independently owned and operated. For more information, visit http://www.svn.com or www.urbanproperties.com.  

Office occupancy dipped in 2021 as pandemic persisted

By: Andrew Valenti, Reporter October 6, 2021  - c/o New Orleans CityBusiness

As 2021 began and the COVID-19 pandemic continued, there were fewer tenants at some New Orleans-area office buildings.

A recent report from Corporate Realty shows occupancy dropped at the Central Business District’s 14 Class A office towers, from roughly 85% in the fourth quarter of 2020 to 84% in the first quarter of this year. That put around 133,000 square feet of space back on the market at the buildings, which are typically more modern and have higher rental rates. Second and third-quarter reports were not yet available as of September.

In 2019, occupancy was at 87% in downtown New Orleans, where there is a total of 8.9 million square feet of Class A office space and 818,000 square feet of Class B space.

Occupancy has been more stable at the three Class B buildings downtown, holding steady at roughly 78% from the fourth quarter of 2020 to the first quarter of this year.

At Metairie’s five Class A towers, occupancy dipped from about 87% in the fourth quarter of 2020 to 86% this year. Occupancy in the area’s 13 Class B buildings remained virtually unchanged at 87%.

Much of the loss in the downtown New Orleans high-rise space can be attributed to a drop in occupancy at 1515 Poydras St., from 52% in the fourth quarter of last year to 38% this year, which put 74,000 square feet of space back on the market. In 2019, the tower’s occupancy was 59%.

Officials at the 27-story building announced in August they plan to convert the 529,000-square-foot structure into a mix of rentable apartments, condos for sale, offices and retail. The multifamily aspect would occupy the 14th to 27th floors, or roughly 60% of the building. The ground floor would consist of retail, and the remainder of the square footage would remain as office space.

The downtown market saw one of its biggest losses in 2020, when General Electric shuttered its space in Place St. Charles as part of a $2 billion cost-cutting measure.

Real estate experts have said it’s not yet certain how the pandemic may affect the market’s future. Some companies have returned full-time to the office, while others have continued remote work or a hybrid model.

The market has seen some smaller lease renewals and new leases within the past year. LCMC Health inked a deal for 41,000 square feet in the Energy Centre on Poydras Street for its corporate offices on the 24th and 25th floors as well as a ground-floor clinic.

Gaines Seaman, a senior advisor with Stirling Properties who handles leasing at the Pan American Life Center at 601 Poydras St. and other large office leases in the metro area, said he has seen a 2% dip in occupancy in the downtown Class A office buildings since the pandemic began.

While its long-term effects have yet to be realized, Seaman believes that as leases mature, more tenants will reduce space.

“However, with that said, many tenants still feel the office is most productive for communication, collaboration and training,” he said.

Seaman said many tenants were initially hesitant to commit to longer-term leases while they were trying to grasp the effects of COVID-19 and how their businesses would function moving forward.

A standard office lease before the pandemic was about 10 years. Seaman said landlords are now having to offer more improvement dollars to keep tenants, especially those who are retrofitting spaces due to how COVID has affected the way they work. He said rental rates have dipped some but that will be short-lived.

SVN | Urban Properties head of brokerage Tim Thompson said he has seen an increase in non-downtown Class A office space. SVN | Urban Properties handled leasing at The Stables, a recently redeveloped group of four low-rise buildings in the Lower Garden District. The developer, Inhab Group, expects to complete the fourth and final phase of the project sometime next year.

Thompson said the firm filled the development “quicker than anticipated,” with some of its tenants leaving downtown for places that have free and ample parking and shorter commute times. The Stables offers more than 30 complimentary off-street parking spots.

“People don’t seem to want the traditional downtown space,” he said.

Law firm Forrest, Cressy & James moved to The Stables from a CBD office tower in November 2019. Eliza James, a partner at the firm, said the firm wanted a space that had a modern and hip aesthetic, is easily accessible to clients and conducive to having collaborative work areas for attorneys and staff. An added bonus, she said, is the on-site space that can be used to host events.

“The Stables provides all these things with the unique New Orleans charm of a meticulously restored building,” James said.

The local office market is feeling less of an effect from Hurricane Ida’s landfall nearly six weeks ago.

The Category 4 storm did not have the same impact on the area’s high-rise buildings as Hurricane Katrina in 2005, where damaging winds and flying debris shattered windows on multiple structures.

While the Galleria in Metairie sustained some damage in Ida, Corporate Realty president Mike Siegel said downtown New Orleans office buildings remained virtually unscathed. All downtown properties where Corporate Realty handles leasing reopened by Labor Day, Siegel said.

“This was not another Katrina event,” he said.

But Siegel said the storm added more headaches for building owners and tenants who have ongoing concerns surrounding the pandemic.

“What people don’t like is uncertainty,” he said. “This just adds to it.”

Commercial Real Estate Firm Expanding Team

New Orleans (August 17, 2021) – SVN | Urban Properties, a commercial brokerage, property management and development firm, is pleased to announce the addition of Sam Hurley to its team.

As a licensed real estate agent, Hurley will assist in generating leads for the brokerage team and work directly with team members on facilitating those deals. In addition to his brokerage work, Hurley will assist in fundraising efforts for the Urban Venture Fund, an in-house development fund seeking to raise $25 Million in capital. He will also assist with special projects from the property management and project management service arms of the firm.

“We are excited to welcome Sam to our rapidly growing team,” said Michael Bucher, partner and director of project management for the firm. “Sam’s entrepreneurial acumen and background in finance will enable him to support various initiatives across SVN | Urban Properties’ real estate platforms.”

Prior to joining Urban, Hurley was an operations specialist with Levelset, a local tech startup in New Orleans. The New Orleans native attended Tulane University, receiving a Bachelor of Science in Finance & Management with a specialization in Entrepreneurship. He was also a member of the Tulane football team (Roll Wave!). In his spare time, Hurley enjoys exercising with his pup (Titan) and golfing.

Biz New Orleans - May Issue

Biz Talk Podcast - Episode 50
Commercial Real Estate Market Improving But Pandemic Effects Still Unclear
Henry Shortess with SVN | Urban Properties shares his thoughts on how remote work has changed the commercial market in the region.

Tim Thompson
Head of Brokerage, SVN | Urban Properties
Over the last few years, we have assisted Anthony Marullo in acquiring hundreds of units throughout the NOLA metropolitan service area, which he converts to voucher programs because of the lack of supply in New Orleans. New Orleans is short tens of thousands of units. Marullo is willing to spend the money to upkeep, renovate and continue to operate affordable housing. We are currently assisting Marullo in closing on two complexes in Uptown New Orleans.

Biz NO - Mixed-Use Development on Constantinople Under Construction

Mixed-Use Development on Constantinople Under Construction

03/29/2021 Site Staff

The former Fine Arts Theater at 1733 Constantinople Street will be home to new residences and commercial units. (Photo provided by SVN | Urban Properties)

NEW ORLEANS – A nearly $2 million historic redevelopment of the 11,600-square-foot building at 1733 Constantinople Street – next to Martin’s Wine Cellar – is slated to be complete this summer.

The architecture group CICADA and the construction team at Perrier Esquerré Contractors were tapped to bring this historic property back to life. The newly revitalized building will offer a variety of spaces for commercial lease on the ground floor and four residential apartment units on the second floor.  

“The restoration is a balance of old and new. It contributes to the heritage of the city by preserving the considerable cultural, social, and architectural history represented by the century-old Fine Arts Theater built in 1917,” said Perrier Esquerré Contractors Project Manager Lee Cooper in a press release. “And the design was redone using best practices to make the commercial spaces as responsive as possible to COVID protocols and sensitivities, such as private entrances for each space, and touchless entry.”

 The development will be anchored by DEVENEY, a local marketing firm, using 4,700 square feet and fronting Constantinople Street. The new units provide an inspiring workspace for design, technology, and engineering professionals, as well as contemporary food and beverage, fitness, and retail concepts. Currently, there is a planned fitness concept, as well as a boutique medical user that hopes to be part of the project.

“Being able to breathe new life into this building and bring it back into commerce in a thoughtful way has been one of the most enjoyable challenges we’ve worked on to date,” said CICADA Partner James Catalano. “We wanted to honor this historic structure by keeping its original theater spirit, while also adding new design elements and spaces that work for the modern user. Our team is proud to be a part of the larger revitalization of this Baronne Street corridor by reviving this historic neighborhood gem.”

SVN | Urban Properties is listing the three commercial downstairs units in the development, which are currently leasing at $22-25 per square foot gross. Click here for more information.