For Immediate Release
Contact: Andrew J. Groveman
Belz Enterprises Thompson & Berry
Belz Maintains Strong 2006 Portfolio
had a lot of activity throughout the Memphis-area this year,” said Andrew J.
Groveman, senior vice president of Belz. “We were able to work with several
existing tenants to help them expand their companies and also saw an increase
in new companies moving to
According to Morris Thomas, vice president of Belz and director of Brokerage & Leasing, Belz either leased, renewed and/or expanded an impressive 2,500,000 square feet of space which represents almost 200 separate transactions in 2006.
In total, Belz leased 1,700,000 square feet of industrial and warehouse space in 2006. The most activity was in their Class B and C properties, which is an indicator the economic cycle is on the up trend.
“We are one of the largest owners of Class B & C properties in Memphis/Shelby County,” said Groveman. “As the economic cycle improves, more Class A space is either rented or the leasing price is raised. Business owners then turn to the Class B and C spaces and Belz is ideally positioned to help them fill their business needs when is comes to space.”
Three of the biggest industrial deals in 2006 were:
Allenberg Cotton Company moved into 300,000
square feet of space at
Liquid Container moved into 150,000 square feet
of space in
Advanced Services, a division of GE, committed
to expanding into 50,000 square feet of space in
Belz Enterprises leased 165,000 square feet of office space in 2006 to 58 different companies.
and leasing in Downtown Memphis continues to be dynamic and robust. Within Downtown Memphis, Belz leased
offices in several different properties. At
“It is very
gratifying to know that companies of all kinds find the downtown environment
productive and exciting. We are particularly
pleased that the Tower at
Commercial and Retail Growth
In the commercial
and retail division, Belz leased approximately
635,000 square feet of space, which represented 86 different leases. “We are well under construction of one of the
most strategically located retail and commercial sites in all of
properties in the Belz commercial and retail division saw a lot of activity in
2006. In North Memphis,