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FROM:
Andrew J. Groveman
Belz Enterprises
The Tower at Peabody Place
100 Peabody Place/Suite 1400
Memphis, TN 38103
CONTACT:
Rubenstein Associates, Inc.
Public Relations, Tel: 212/843-8088
Dawn Rowan
FOR IMMEDIATE RELEASE
Construction Begins In St. Augustine, FL.
On Belz Enterprises Latest Factory Outlet Mall
Memphis, Tenn. (July 17, 1998) -- Belz Enterprises has begun construction
on its latest factory outlet mall, which is rising on a picturesque, approximately 80-acre
tract, in St. Augustine, Florida. The enclosed, climate-controlled mall, which will offer
252,000 gross leaseable square feet in Phase I, is expected to open by summer of next
year.
Development of the St. Augustine mall is in keeping with
Belzs strategic plan to expand our presence in one of the countrys best
vacation spots, says Andrew J. Groveman, President of Belz Enterprises Factory
Outlet Mall Division. We hope to fulfill the demands of todays discerning
shoppers, both residents and tourists alike, and enhance their overall shopping
experience.
The Belz Factory Outlet Mall - St. Augustine promises a diverse mix of
designer and famous brand manufacturers as well as restaurant and entertainment facilities
for the entire family.
Included among the prestigious and highly recognizable retailers
to sign on as Belz Factory Outlet World - St. Augustines initial tenants are
Remington Factory Outlet Store, Samsonite, Vitamin World, Hush Puppies, Adidas Company
Store, Black & Decker, Nike, Easy Spirit, Danskin and Perfumania, to name just a few.
The mall will open 90% leased, according to Mr. Groveman.
We plan to create a one-of-a-kind shopping experience for the
factory outlet shopper making Belz Factory Outlet World the place to shop in St.
Augustine, emphasizes Mr. Groveman.
Conveniently located only minutes from resorts, vacation homes and
historic sites, the St. Augustine mall offers easy access from Interstate 95 and is within
30 miles of downtown Jacksonville, Florida with over one million people.
The combined tourism of Jacksonville and St. Augustine is over three
million people a year. Of the over 40 million people who visit Florida as tourists
annually, 10 million are expected to travel by automobile on Interstate 95, from which you
can see Belzs other renown Florida developments, Belz Factory Outlet World and Belz
Designer Outlet Centre in Orlando.
With headquarters in Memphis, Belz Enterprises is a multi-faceted real
estate company with more than 25 million square feet of developed property including over
40 shopping complexes, ranging from community shopping centers to regional malls.
Belz owns and manages Factory Outlet Worlds in Lakeland and
Pigeon Forge, Tenn., Las Vegas, and Orlando, Fla. Belz also operates the 100 Oaks Mall in
Nashville, Tenn. In addition to St. Augustine, Belz is developing a factory outlet mall in
Puerto
Rico, and Festival Bay at International Drive, a lifestyle retail complex in Orlando. The company has
also developed and owns a group of premier hotels, including the flagship Peabody Hotels
in Memphis and Orlando.
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