We offer Louisiana's only true conflict-free tenant representation. Let us advise you on your lease project from conception to completion.
To represent the organic interests of our clients and their financial, physical and timing needs throughout the lease or purchase process for any office, medical, retail, industrial, or entertainment space.
Tenant Representation is Our Only Focus
Maria McLellan Real Estate is a conflict free, tenant representation group committed to a confidential, ethical and professional environment in honoring the needs of your company. We do not represent Landlords, but instead work in conjunction with the Listing Agents to ensure equal representation. This is why you do not see our name in front of buildings “For Lease” as it is the Listing Agent that represents the Landlord/Owner and therefore has the contractual right to put a sign on the property. Think about it: how can the Listing Agent represent both parties equitably?
The practice of tenant representation is common throughout the country, but not here. Unfortunately, conflicts of interest are a way of life in Louisiana.
How are we paid? Our fees for service are shared with the Listing Agents fee offering with total disclosure to you. If you are not being represented you are paying for services you are not receiving. Our only focus is tenant representation of local, regional and national companies throughout Louisiana. We arecommitted to total client support, fromearly lease renewal evaluation and re-negotiation tosite evaluation and relocation, new site market search and complete proposal-to-lease negotiations. Maria McLellan Real Estate, Principal Broker, works closely with our clients inselection and interactionwith the interior design team, architects, contractors and commercial move companies.
Our No-Conflict Pledge
- Protect Commercial Tenants and Owner-Occupants from the conflicts of interest that plague and pervade the Commercial Real Estate Industry.
- Represent only the interests of Commercial Occupiers and never work for Commercial Landlords.
- Never accept any property listings from Commercial Landlords.
- Use our professional experience, knowledge and integrity to provide objective, superior advice for Commercial Occupiers.
- Act as true fiduciaries, advocates and loyal, obedient Agents for Commercial Occupiers.
- Elevate the interests of Commercial Occupiers above our own.
- Abide faithfully by real estate laws wherever we conduct business for Commercial Occupiers.
- Avoid any practice of real estate as a Dual Agent, Designated Agent, Intermediary, Facilitator or Transaction Broker, all of which invite and breed conflicts of interest.
- Accept no referral fees from any professionals or vendors that we recommend to our Clients.
- Treat Commercial Occupiers’ decisions as respectfully and carefully as our own.
Why This Matters
Major U.S. Retailer Files Suit Alleging Multistate Real Estate Fraud, Bribery Scheme
The country’s largest mattress retailer is accusing a host of real estate companies and executives, including its nationwide real estate broker, of a multiyear scheme that involved inflated store rents, bribes, high-priced gifts and kickbacks from developers. The company claims the scheme may have affected more than 800 stores nationwide.
Houston-based Mattress Firm is suing Colliers International’s Atlanta office, Colliers International Senior Vice President Alexander Deitch and two of the retailer’s former in-house real estate executives — Bruce Levy and Ryan Vinson — for allegedly steering Mattress Firm stores to locations with leases well above market rates.
Read the Story
We Work Closely with These National Real Estate Brokerage Organizations:
International Tenant Representatives Alliance (ITRA): ITRA Global is an organization of real estate professionals specializing in representing commercial tenants and buyers in the leasing, acquisition and disposition of office, industrial and retail facilities.
Corporate Real Estate Advisors (CRESA): We’ve always been strong advocates for clients.Apparently, they’re strong advocates for us. The Watkins Research Group ranked CRESA #1 in client advocacy.
Economic Development in Louisiana
State Sponsored Financial Incentives
Working together with the specialists at the Department for Louisiana Economic Development, strategic financial proposals can be designed and constructed to facilitate a build to suit manufacturing facility on a Certified Site on the River, on the Rails or near our Ports or financial incentives can be created to attract and secure new or retain existing businesses in need of large office space blocks. Business Retention and Expansion financial incentives are available to existing Louisiana businesses in need of facility expansion and hiring to stay competitive and committed to the growth of their business and that of Louisiana’s economic future. Below are examples of recent transactions concluded by LED:
DXC Technology has moved into its’ new regional headquarters in the New Orleans Central Business District with 300 employees and a promise to hire an additional 1,700 for a total of 2,000 white collared professional employees over the next 6 years. This is the single largest LED financially sponsored public/private partnership in employment stats in the state’s history.
The strength of this partnership was critical for the success of the project. LED collaborated with Baton Rouge’s consolidated city-parish government, the Baton Rouge Area Foundation, the Baton Rouge Area Chamber and Louisiana State University to make the best case for Louisiana and compile solutions to address IBM’s workforce needs.
The center has become home to 300 high-quality technology jobs and serve as a major resource for GE Capital employees across the nation. Executives announced GE Capital would occupy over 60,000 square feet of office space in the New Orleans Central Business District.
Monroe- Corporate Based-Louisiana Economic Development (LED) provides support to
CenturyLink through two major IT acquisitions including Level 3, in September, 2017 and Qwest in
2011 adding a major headquarters expansion making CenturyLink the 2nd Fortune 500 Company corporate based in Louisiana. The 1st is Entergy.
Case Study 1
Working in conjunction with the National Tenant Broker for a $2B Life Insurance Company in need of relocating an existing 4,000 sqft office in Baton Rouge, we successfully identified 5 locations that met the criteria with a focus on an I-10 location, 35 parking spaces, accessibility and rental rates. A customized Proposalwas created, submitted and analyzed upon receipt. 3 locations were identified from the results, with 1 at the top of list. We were successful in achieving the property of choice that satisfied all special needs requirements of the local and corporate offices, as the Tenant was able to upgrade their space fromClass C to Class A at below-market conditions taking advantage of existing Class A interiors with renovations.. The Listing Agent was outstanding to work with as was the Landlord. This assignment took 7 months to complete.
Case Study 2
After receiving a referral from the Atlanta National Tenant Broker, I was introduced to a 150-year-old local lithographic food label printing company in need of a new distribution warehouse facility as close to the main plant as possible. After an exhaustive search and market analysis it was determined that an existing 25,000-30,000 sqft warehouse, with the necessary amenities, did not exist in the area of choice and the client would have to go outside of their preferred area. A facility was identified West of the Airport in another Parish, in an established industrial warehousing area. Immediate negotiations commenced and was completed in mid-December, 2016. Tenant was able to upgrade its space needs to Class B at below-market rents with negotiated built-to-suit tenant improvement dollars and rent offsets.Construction is currently underway with occupancy by the end of March, 2017. This assignment took 1 year to complete.
In the News:
Office market gets boost from new businesses
Maria McClellan, an independent commercial broker who represents tenants, said the North Shore offers the best alternative for Class A office space growth in the New Orleans area. She said there is a compression of the Central Business District of ce market in downtown New Orleans due to the removal of Class C and B of ce buildings from the available inventory. Developers have been converting these high-rises into hotels, apartments and condo- miniums over the past decade.
McClellan said these office buildings are not being replaced, and she predicts more space is set to exit the market in the next two years.
“There’s plenty of land on the North Shore for Class A of ce space growth,” she said.
Jefferson office market could strengthen in coming months – New Orleans CityBusiness
Though strong, the Jefferson Parish office market remained flat in the past year as the area continued to recover from slumping oil prices. But commercial realtors say there is possible growth on the horizon.
A recent year-end report by Corporate Realty shows occupancy rates for the Metairie market slightly increased from 92 percent in 2015 to 92.3 percent last year. Rental rates for Class A buildings range from $21 to $26 per square foot, and space for Class B buildings rent from $18 to $22.
Maria McLellan, an independent commercial broker who represents tenants, said because the Metairie market is so expensive, many companies are moving their operations to St. Charles Parish, particularly St. Rose, where there is more available office and warehouse space.
“This is the highest rents have ever been,” she said. “It’s definitely a landlord’s market.”
McLellan said there has been a spillover effect into Elmwood, making real estate more valuable in the area. This in turn has made it impractical for developers to buy land and to build new warehouses and offices.
McLellan’s clients are now building out this space and leasing it as “flex space,” which is a conversion from warehouse to office space.
“Parking is free, and single-story building rents are much lower,” she said. “You can also finish out the open space how you want it.”
Jefferson Office Market Stagnant but Strong
Maria McClellan, an independent commercial broker who represents tenants, said many of her clients have been considering some of that “flex space” found in the Elmwood area as a conversion from warehouse to office space.
“Parking is free and single-story building rents are much lower,” McClellan said. “You can also finish out the open space how you want it.McClellan said the traditional office market in Jefferson is “saturated” and that there is very little out there.”It is definitely still a landlord’s market,” she said. “Tenants seeking leases have had to get creative.” PJ’s Coffee New Orleans:Maria McLellan Real Estaterepresented the franchiser with the renewal of an existing lease incorporating new terms and conditions after performing an audit on the lease with multiple amendments dating back 20+ years.
Seven floors of Poydras Street office tower converting to $120 million Hyatt hotel
Seven vacant floors in the 1250 Poydras St. office tower will be converted into a 194-room Hyatt House hotel, a project that will consume the largest contiguous premium office space available for lease in the city, brokers on the deal announced Friday (Oct. 10).
The 11th through 17th floors in the middle of the 24-story tower will be converted to a hotel operated by Select Hotels Group LLC, a Hyatt affiliate, according to a news release from Robert Hand, president of Louisiana Commercial Realty, and Maria McLellan, Gulf States Real Estate Services LLC, Associate Broker.
Awarded CoStar Power Broker Top Broker Award
2014 CoStar Power Broker Award winner for Top Office Leasing Brokers in the New Orleans/Metairie Kenner market.
This award is based on overall leasing transaction volume as reported to CoStar and measured against all the commercial real estate brokers active in the region. As the largest research organization serving commercial real este, CoStar independently confirms and recognizes the most active firms and individual dealmakers in the industry each year with this prestigious award
MARIA McLELLAN REAL ESTATE:1987-Present|Broker/Principal |New Orleans, LA
- “100% Conflict free” Tenant and Buyer advocacy representation of corporate commercial real estate needs throughout Metro New Orleans (10 Parishes) and the Super Region of Baton Rouge (8 Parishes) covering Central Louisiana to the Gulf of Mexico.
- Producing in excess of $528M in leasing volume and 1.47.5M sq ft of commercial real estate transactions.
- In 2014, co-brokered ENI USA, Inc. (multinational oil and gas company) in buy out of 58,000 sq ft (3 floors) as part of 7 floors of high rise office space converted to (first in Louisiana) $120M Hyatt House Hotel concept adjacent to the Superdome.
- Also represented the nation’s largest private healthcare company, Kindred, in opening offices in Houma, La.
- Worked independently and with regional/national Tenant Brokers as the local expert on transactions for Newmark Knight Frank/Grubb & Ellis, Equis, Studley Company, CRESA, and International Tenant Representation Alliance (ITRA) using extensive up-to-date market knowledge to represent highly specialized medical, insurance, legal, general office and retail clients.
Advanced Technical Education
2017 Professional Designation Class Completion
Maria McLellan Real Estateis proud to announce that Maria McLellan has successfully completed a live interactive course at Southeastern Louisiana University (SLU) in Hammond, La. on sharing best practices in Economic Development to create an effective Business Retention and Expansion (BRE) program. The BRE is a core course for the CLED (Certified Louisiana Economic Developer) credential.
The CLED training program, begun by LSU in 2008, is administered by LIDEA (Louisiana Industrial Development Executives Association), the statewide Economic Development professionals’ organization. Ms. McLellan is one of 31 recent graduates who have successfully completed the 65 hour course program incorporating 7 core, basic and elective classes in economics, strategy and planning, finance, development, marketing, reuse and retention encompassing over a 2 year time period beginning the classes at LSU-EJ. Ourso College of Business Executive Education and concluding at SLU, the new CLED program sponsor.
Students were full time public employees representing their respective Parish EDO, business entrepreneurs, real estate brokers, developers and attorneys, tax credit specialists, and site selectors participated in this course focused on how to understand their community’s business climate and structure an effective technical assistance program and advise policy makers on how to respond to existing businesses concerns. This course helps participants understand how a Business Retention and Expansion program relates to attraction, workforce development, small business finance, technology transfer and many other Economic Development activities and issues. For more information, visit http://www.lideatraining.com./