The Belz Report - 1999, Volume 2

1999, Volume2PAGE 5

Four Anchor Tenants Sign Leases for Nearly 350,000 sq. ft. at Orlando’s Festival Bay at International Drive
Belz Enterprises is rapidly leasing its newest development, the lifestyle retail entertainment complex, Festival Bay at International Drive. At nearly 1.1 million square feet, the shopping complex in Orlando will feature a variety of one-of-a-kind stores and attractions.

Slated to open in fall 2000, Festival Bay at International Drive’s largest anchor tenant will be Bass Pro Shops – Outdoor World, which has signed a 162,000-square-foot lease. In addition, Cinemark USA has leased 85,000 square feet for a 20-screen megaplex theater complex, the first all-stadium theater to open in the city of Orlando. Ron Jon Surf Shop, the largest surf and active lifestyle retailer in the U.S., and Vans, Inc., the core sports and lifestyle footwear, apparel and snowboard boot manufacturer, are the newest retailers to join the impressive and growing tenant roster at Festival Bay at International Drive.

Ron Jon will anchor the premier development at the south end of International Drive with a 50,000-square-foot surf emporium. Vans, Inc. will lease 50,000 square feet to open its first "Skate Park" in the Orlando area.

"Festival Bay at International Drive, when completed, will consist of approximately 600,000 square feet of a one-of-a-kind shopping destination as demonstrated by these exciting anchor tenants," said Andrew J. Groveman, senior vice president, Belz Enterprises. "In addition, the tenant mix will include themed restaurants and entertainment-type retailers, as well as 250,000 square feet of fashion-forward specialty retailers.

"The design of this project will clearly reflect 'a better way to shop,' where local residents and tourists alike will find a shopper-friendly, relaxed Florida lifestyle shopping environment," Groveman said. "At Festival Bay at International Drive, shopping will be fun. Festival Bay at International Drive will uniquely reflect the Florida lifestyle in its architecture, attitude and tenant mix. It also will position the Florida lifestyle retail complex as a first-class tourist attraction well into the next century."

The world-class Festival Bay at International Drive team is comprised of The John Jerde Partnership, project architect; Belz’s Steve Aronow, anchor leasing; Real Estate, Inc., specialty store leasing; and Belz Enterprises, owner and developer.

Strategically located on International Drive and bounded by the Florida Turnpike and Interstate 4 in Orlando, Festival Bay at International Drive is situated in the middle of 25,000 hotel rooms. Belz's 900-room convention center hotel, The Peabody Orlando, anchors the south end of International Drive. Festival Bay at International Drive is envisioned as an additional anchor to the north end of International Drive, along with Belz Factory Outlet World and Belz Designer Outlet Centre.

Festival Bay at International Drive is designed to cater to the more than 38 million annual tourists from around the world that visit Orlando, giving the city the title of "The World's Number One Vacation Destination." Festival Bay at International Drive already enjoys the benefit of having more than 15 million visitors per year drive by its "front door" on International Drive, many of whom currently shop at Belz Factory Outlet World and Belz Designer Outlet Centre in Orlando.

Photo: Steve Aronow, Vice President, Festival Bay at International Drive Leasing