Melissa Warren, CCIM
Senior Advisor | Stirling Properties; President | New Orleans Metropolitan Association of Realtors — Commercial Investment Division
Top Real Estate Influencer
Stirling Properties is one of the most comprehensive full-service commercial real estate companies in the country specializing in commercial advisory services, brokerage, asset and property management, development and redevelopment and investments over a wide array of property types, including retail, office, industrial, healthcare and multifamily sectors.
As senior advisor for Stirling Properties, Melissa Warren is most proud of the industrial maritime work she has done along the Gulf Coast and providing medical-retail site-selection services for JenCare’s Senior Medical Centers’ expansion.
What are you most excited about in the coming year? Working in the New Orleans post-pandemic economic recovery and representing clients during significant increase in commercial investment activity. Opportunities abound in the industrial market with the development of last-mile distribution and manufacturing facilities. The precipitous transactions supporting these developments are plentiful, and working on these assignments is an exciting opportunity.
The Mississippi Gulf Coast has a robust real estate market with a pipeline full of development permits. It’s nice to see the coast is going strong and becoming a field of investment opportunities for Louisiana investors.
What is the biggest challenge facing your industry today? I think the biggest concerns facing us are the skyrocketing cost of insurance and construction and their impact on the real estate industry. The ability for businesses and real estate investors to affordably insure their assets is critical to attracting investors and furthering economic development. The current insurance crisis needs to be addressed honestly by our state leadership so consumers can get the coverage they deserve for the money they pay without having to deal with the stressful hurdles thrown at them when a disaster strikes.
Inflation and supply chain issues have had a big impact on the cost of construction and tenant build-out. The cost of construction is playing a large role in lease negotiations and development costs, which ultimately impact lease rates and what developers are willing to pay for land.
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