Belz Begins Work on Key 230-Acre Site Near Memphis International Airport

MEMPHIS, Tennessee, July 31, 1998 – Site planning and construction has begun on a 230-acre Belz Enterprises development near the Memphis International Airport that company officials say will become a key part of the Memphis area’s distribution industry.

The development will be called the Memphis Logistics Center.

The site at the corner of Holmes and Tchulahoma has the potential for 4.5 million square feet of warehouse distribution and industrial space and is strategically located near the Memphis International Airport and Federal Express’ hub, as well as the I-240 and I-55 Interstate system.

"This project will allow us to keep up with the explosive demand for warehouse distribution space that Memphis has been experiencing," said Morris Thomas, vice president of Belz Enterprises’ brokerage division.

Belz Enterprises purchased the property June 30 from two Memphis families who had held the property for decades.

"This project is going to provide us with our next major warehouse distribution and industrial development in Memphis," said Andrew Groveman, senior vice president of marketing and administration for Belz Enterprises. "In addition to its being strategically situated close to the Memphis International Airport and Federal Express’ hub, its easy access and close proximity to I-55 and I-240 provides excellent over-the-road trucking support.

"With one day’s drive, Memphis serves 76 percent of the entire U.S. population," Groveman continued. "The Memphis Logistics Center will become the distribution center for the next millennium."

Headquartered in Memphis, Tennessee, Belz is a national leader in

real estate development. The company owns and manages more than 25

million square feet of industrial warehouse and distribution centers, shopping centers, office buildings, mixed-use centers, and corporate campuses. Belz also owns a group of premier hotels including the Peabody Hotels in Memphis and Orlando, Florida.

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