FOR IMMEDIATE RELEASE
Contact: Keith Britt
Thompson & Co.
901/527-8000
or Andrew J. Groveman
Belz Enterprises
901/260-7278

BELZ BURROW TO DEVELOP CABOT PROPERTY

MEMPHIS, Tenn. – The Jonesboro/Memphis based development firm Belz Burrow has acquired from J.B. and Gladys Smith a 23-acre tract of land at the southwest corner of Highway 67-167 and Highway 89 in Cabot, Ark.

The firm will develop the Rockwood Center, a 160,000 square foot shopping center anchored by a Wal-Mart Supercenter. Opening of the Wal-Mart Supercenter is planned for October 1997 with the retail shop space and outparcels opening in the spring of 1998.

"We are excited to be a part of Cabot’s phenomenal growth", said Andrew J. Groveman, senior vice president marketing and administration, Belz Enterprises. "We appreciate very much the efforts of the Smith family in helping make this project a reality and their contribution to the growth of the community."

Belz Burrow has over 80 years of combined experience in shopping center development and specializes in the development and acquisition of retail and shopping center properties.

Belz Enterprises is a leading innovator in real estate development with interests throughout the Mid-south and much of the country. Belz develops, owns and manages over 30 million square feet of industrial/warehouse/distribution centers, shopping centers ranging from community strip centers to factory outlet malls and conventional malls, office buildings, mixed-use centers and corporate campuses. The company also owns and manages 11 hotels ranging from convention center hotels to convenience-oriented hotels. The most famous Belz-owned hotels are the two world-renowned Peabody Hotels, located in Memphis and Orlando, Fla.

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