The Belz Report - Summer 1997

S U M M E R -- 1 9 9 7P A G E3

Park Place Centre Renovations Underway

“Park Place Centre is projecting significant activity in Memphis retail leasing,” says Gil Ryan, director of retail leasing, Belz Enterprises.

The current Park Place Centre property is hardly recognizable as parts of the former structure are being torn down to make way for the expansion and renovation of the East Memphis shopping landmark.

The facade of Park Place Centre may appear different in the upcoming months, but several tenants will remain the same. Currently, Loehman’s department store has plans to expand from 13,000 sq. ft. to 25,000 sq. ft. Other tenants, such as Gould’s Styling Salon and Jenny Craig Weight Loss Centre will also undergo notable changes as well. Gould’s will expand from 1,500 sq. ft. to 4,675 sq. ft. and Jenny Craig has relocated to the Park Ave. side.

Fox Photo, the latest tenant to be added to the unique retail/restaurant mix, will occupy 1,253 sq. ft. in the newly renovated Park Place Centre.

The grand reopening for Park Place Centre is scheduled for late November 1997.

Interior and exterior changes are being made at Park Place Centre.

Destination Fun in the Sun:
New Shopping Centers are a Welcome Oasis

Belz Enterprises is migrating farther south with new developments underway in Orlando, St. Augustine, and San Juan.

“There is so much growth in Florida and Puerto Rico for retailers,” says Andrew J. Groveman, president of Belz factory outlet division. “Belz Factory Outlet World – Orlando has been such a tremendous success we thought we should build on it. We are pleased to be contributing to this tremendous growth.”

Over 600,000 sq. ft. of space has been allocated to nationally recognized retailers for Belz Enterprises’ latest venture, Festival Bay at International Drive, which will be located across the street from the second largest tourist attraction in

Orlando—Belz Factory Outlet World – Orlando and Belz Designer Outlet Centre. An additional 250,000 sq. ft. has been reserved for fashion-forward specialty retailers, unique entertainment components and a number of nationally recognized theme restaurants.

Within 30 miles of Jacksonville, Fla., Belz Factory Outlet World at St. Augustine Centre will be a pleasant drive for over three million people. The 252,500 sq. ft. mall will be located just south of the new PGA Hall of Fame and its accompanying residential and commercial golf course development.

Belz Factory Outlet World – San Juan, Puerto Rico, will be the first ever factory outlet built in Puerto Rico. The 345,000 sq. ft. mall will be a vacation destination for the annual 3.3 million American visitors.

All three properties are currently leasing and are scheduled for opening fall 1998.

The 850,000 sq. ft. Festival Bay at International Drive development in Orlando, FL.

Belz•Burrow Acquires Hobby Lobby-Goody’s Property Jonesboro welcomes retail expansion and improvements

The mix of Jonesboro, Ark., retail continues to change and expand now that Belz• Burrow has acquired the Hobby Lobby-Goody’s property from Wal-Mart Properties located at Highland Dr. and Bernard St. in Jonesboro, Ark.

Belz•Burrow will develop and improve the property, renamed Bernard Court, for existing tenants and will add an additional 15,000 sq. ft. of shopping space. Two outparcels will also be developed at the Bernard Court location, including one site already leased to Hollywood Video.

The improvements will include an overlay of the parking area, new lighting package upgrade, new storefronts and canopies, as well as new signage. The project is expected to be complete by September 1997.