NEW ORLEANS (press release) – New Orleans’ latest commercial development is underway in the active Lower Garden District – the Inhab Group is bringing “The Stables” to life with the construction of three new, thoughtfully designed buildings complementing a previously revived structure on Annunciation Street. The Stables is offering a variety of space types and sizes for commercial lease with a goal of providing a home for high-growth companies, both local and national, balanced with exciting food and beverage, retail concepts and event space.
The Stables is a collaborative, inspiring workspace for like minded design, real estate, technology, and engineering professionals, as well as a commercial space for events/experiences, contemporary food and beverage, fitness, and retail concepts. The development will be anchored by real estate development firm Inhab, architecture and interior design practice Farouki Farouki, and modern lighting studio Sazarac Stitches. Additionally, there is a planned wood-fired pizza concept as well as a beer and wine tap house as part of the project. The Stables will contribute to lower Magazine’s vibrant street culture with day and night activity and entertainment for residents, workers, and tourists alike.
The development, which will open in phases, includes four buildings: 1222 Annunciation Street (Building 1) is a preexisting structure and fully leased, 1229 Saint Thomas (Building 2 – available in September ‘20), 1235 Saint Thomas (Building 3 – available January ‘21), and 1239 Saint Thomas Street (available April ‘21). This conversion project will stylishly bring back to life warehouses that were previously used for storage for French Quarter horse carriage tours- a revitalizing blend of New Orleans tradition and modernity.
“Being able to breathe new life into these properties and bring them back into commerce in the most thoughtful way has been the most enjoyable challenge we’ve worked on to-date,” said Inhab Group Founder and Owner Mike Bertel. “We wanted to create unique and modern spaces for our tenants – mostly innovative and design-oriented business – while at the same time providing variety and destinations for the neighboring community.”
Urban Properties Real Estate is exclusively listing the development which is currently leasing at $28 per square foot gross. Building 1 is 100 percent leased with only 1,381 square feet left in Building 2. Building 3 offers 2,452 square feet of street-level retail on the first floor and 2,341 square feet of office space on the second floor, providing a compelling opportunity for companies searching outside of New Orleans’ office tower environment. Lastly, Building 4 will offer a total of 3,314 square feet with 1,590 on the first floor and another 1,724 on the second floor- providing yet another chance for standalone, low-density office space Importantly, the development also offers 30+ onsite parking spaces to be provided to tenants at no additional cost, a true differentiator versus other comparable prospects currently on the market.