The Belz Report, Summer 2000
2000, Volume 2PAGE 6

Belz•Burrow Opens Largest Wal-Mart
in Arkansas

Fifty years of commercial real estate experience coupled with more than 35 years of real estate development is the foundation of one of the finest partnerships to date.

Fresh off the heels of the grand opening of the largest Wal-Mart in Arkansas, Belz•Burrow relishes in one of many successful ventures that has thrust it to the forefront of the real estate industry.

Under budget and a few months early, Arkansas' largest Wal-Mart is Belz•Burrow's latest success story. Standing at 220,000 square feet, the Supercenter is located in Jacksonville, Arkansas, just ten miles north of Little Rock. A grand opening gala consisting of a speech by the mayor and donations to local charities commemorated the highly anticipated January 26 event.

Belz•Burrow acquired property along the Highway 67 corridor in 1998 to construct Air Park Commons Shopping Center, named for its close proximity to the main entrance of Little Rock Air Force Base. Intended as a center to attract mixed-use tenants who had expressed an interest in the market, Belz•Burrow's vision was transformed when it was successful in acquiring additional land, expanding the site potential and affording Wal-Mart a phenomenal location for a Supercenter. Wal-Mart set its sights on the prime location of Air Park Commons Shopping Center and as they say, the rest is history.

In addition to the mammoth Supercenter, the site also includes two out parcels – Burger King and a local bank.

Wal-Mart's ties to Jacksonville date back to 1970, when the original Jacksonville store was one of six opened on the same day Wal-Mart first went public with 300,000 shares of stock priced at $16.50. Today, 100 shares of Wal-Mart stock purchased at its IPO in 1970 would be worth $9.4 million.

Belz•Burrow was formed in 1990 and holds 13 properties in Jonesboro, Blytheville, Cabot, Jacksonville and Paragould, Arkansas and one in Sikeston, Missouri.

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