The Belz Report, Summer 1997

S P R I N G -- 1 9 9 8P A G E2

The Tower at Peabody Place Grand Opening Rocked the Block

Delilah Wallenda was the highlight of the Grand Opening Block Party at Peabody Place in Downtown Memphis November 11.

As a member of the famous highwire Wallenda family, Delilah crossed Main Street from Pembroke Square to The Tower at Peabody Place perched four stories above the ground to a chorus of ooh’s and ahh’s from the crowd.

The death-defying highwire act was the finale of the celebration of the Grand Opening of phase two of the largest mixed-use historic renovation project in the country. The Tower was encircled by a 12-foot wide ribbon wrapped around the 15th floor. After the ribbon-cutting cere-mony and Delilah’s highwire act, the crowd rocked to the music of wildman pianist Jason D. Williams. The Grand Opening event was held at the corner of Peabody Place Avenue and Main Street and was free to the public.

“The Grand Opening of The Tower at Peabody Place was a milestone in the
project’s development,” says Andrew J. Groveman, senior vice president marketing and administration for Belz Enterprises. “We were pleased that so many Memphians joined us in celebrating such a momentous occasion. The famous Wallenda highwire walk was our way of showing that it really is high time at Peabody Place!”

Belz•Burrow Continues to Thrive

In 1990, Belz Enterprises and Bruce Burrow established a partnership that has continued to grow and thrive ever since.

Belz•Burrow, headquartered in Jonesboro, Ark., has helped put Jonesboro on the map with over 80 years combined experience in shopping center development and acquisition. Their developments continue to spring up all around town to meet the growing needs of Jonesboro and surrounding cities.

There was a substantial amount of activity at Belz•Burrow throughout 1997. Bernard Court Shopping Center in Jonesboro has recently signed a lease with Shoe Carnival for an additional 12,000 square feet. Also, complete renovations of the building’s exterior, parking lots and landscape began March 1, 1998.

Last year, Belz•Burrow acquired a former Kroger building adjacent to the new Kroger prototype in Jonesboro. A complete renovation of the building into a Books-A-Million took place and opened in February 1998.

The Shoppes of Rockwood in Cabot, Ark. is a 160,000-square foot shopping center anchored by a recently opened Wal-Mart Super Center. Interest in the project has been overwhelming and all retail space will be leased prior to construction.

Belz•Burrow is also continuing construction of West Point Shopping Center in Paragould, Ark. The first phase was completed in October 1997 and Phase II is scheduled for completion in July 1998. Current tenants include Wal-Mart Super Center, Friedman’s Jewelers, GNC and Dollar Tree. Future tenants include Goody’s Family Clothing, Subway and Hollywood Entertainment.

In 1997, Belz•Burrow developed Ridge Park, a Jonesboro project anchored by a Wal-Mart Super Center. A Hallmark Gold Crown Store also recently opened in Ridge Park and the leasing program is moving forward at full-speed. Most recently, the Crossroads property (former Safeway property) was purchased by Belz•Burrow and will be redeveloped into a retail center.

One of the most exciting changes at Belz•Burrow was the move into their new corporate office on March 2, 1998. The new address is: First Bank Building, Suite 5000, 2400 East Highland Drive, Jonesboro, AR 72401.

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