R
yan Pecot, a senior retail leasing and development adviser with Stirling Properties in Lafayette, has 25 years of experience in the commercial real estate industry. He notes that retail development comes in cycles, and south Louisiana is currently in a new one. The market is seeing fewer national big brands like Costco and Whole Foods, which entered about 10 years ago, but instead, smaller brands with a local presence are being developed.

    Pecot observes that the area's restaurant scene may have overextended itself in recent years, leading to a need for right-sizing. He attributes this to lack of profit margin and over-saturation, citing examples of restaurants closing or struggling to stay afloat.

    In Youngsville, significant wins include new developments like Wendy's and Swig, but Pecot notes that the market is still experiencing growing pains due to limited consistent traffic. However, with high-end average household incomes in the area, he believes it's pointing in the right direction.

    Regarding shopping malls, Pecot is hopeful about the recent purchase of Northgate Mall, citing its well-located geography and potential for revitalization. He also thinks that coffee shops are here to stay, as evidenced by his team's representation of multiple coffee shop tenants across their market area.

    As for upcoming deals, Pecot mentions a predevelopment agreement with landowners at the southeast quadrant of Louisiana Avenue and I-10 in Lafayette, which could lead to commercial development. He has already solicited letters of intent from interested groups and is confident that the project will move forward.