The Belz Report, Summer 1997

S P R I N G -- 1 9 9 8P A G E3

Belz Breaks Ground on the First Factory Outlet Mall in Puerto Rico

Belz recently broke ground on the first enclosed factory outlet mall ever built in Puerto Rico. Belz Factory Outlet World Canovanos, located 15 miles east of San Juan, is expected to open by fall 1999.

Working with world-renowned architects, Belz has planned the ultimate facility, combining outlet shopping with unique restaurants and entertainment components. The enclosed mall will be comprised of five connected buildings, each with a different mood and streetscape depicting Old San Juan. The center’s food court will feature a rain forest/entertainment theme with rockscapes and waterfalls. Phase I of Belz Factory Outlet World Canovanos will have approximately 350,000 sq. ft. of space with more than 80 tenants.

“This certainly will be one of our flagship factory outlet mall developments,” says Andrew J. Groveman, president of Belz Factory Outlet Division. “The retail mix of Canovanos will closely resemble the mix in our Orlando, Florida, and Las Vegas, Nevada., developments. The first phase will feature designer outlets as well as highly-recognizable manufacturer outlets in almost every category.”

Belz Factory Outlet World Canovanos will be located in the middle of all the island action of Puerto Rico on Highway PR-3, the major east/west corridor that passes by the front door of the project. Current construction to extend Highway 66 will create a connector that will border the mall on its western property lines. Belz Factory Outlet World Canovanos will have superb visibility and accessibility to over 3.7 million residents and more than 4 million tourists who visit and spend $1.7 billion dollars annually.

Belz has chosen Soltero Munoz Architects to work on the project. The renowned Jerde Partnership from Encino, California, has been engaged as the design architect.

“We wanted to create something special. Constructing the team of Soltero Munoz and Jerde Partnership ensures us the ability to deliver a shopping environment for everyone in the family,” says Groveman. “This development will characterize a design that will represent an environment for the next century.”

Festival Bay at International Drive in Orlando Prepares for the Next Century

Festival Bay at International Drive in Orlando, an amazing one-million sq. ft. shopping destination, has recently signed two unique anchor tenants.

Bass Pro Shops – Outdoor World recently celebrated its grand opening, positioning the 162,000-sq. ft. store as Festival Bay at International Drive’s premier retail and entertainment tenant. Bass Pro consists of more than 30 acres of sporting paradise including a 125,000-sq. ft. retail store with a fly-fishing shop, hunting department, archery range, camping department, boat and RV department, and men’s and women’s clothing and footwear departments. One of the most interesting aspects of the store is the 64,000-gallon indoor reflecting pool that doubles as a natural-setting aquarium stocked with native Florida fish.

In addition, Cinemark USA Inc.’s “Tinseltown,” a 20-screen megaplex theater, committed to an 80,000 sq. ft. lease. Con-struction of the facility is set to begin in fall 1998. The new complex will feature stadium seating in all 20 auditoriums as well as ultra plush chairs with a reclining feature. Retractable armrests are also available and feature cupholders on every seat. In addition, Cinemark’s megaplex theater offers a state-of-the-art digital sound system comprised of the Digital Theater System (DTS), Dolby Digital and Sony Dynamic Digital Sound (SDD).

“Festival Bay at International Drive, when completed, will consist of approximately 600,000 sq. ft. of one-of-a-kind shopping as demonstrated by anchor tenants Bass Pro Shops – Outdoor World and Cinemark’s Tinseltown,” says Andrew J. Groveman, senior vice president of Belz Enterprises. “In addition, the tenant mix will include themed restaurants, entertainment-type retailers, as well as 250,00 sq. ft. of fashion-forward specialty retailers.”

Festival Bay at International Drive is designed to cater to over 38 million annual tourists from around the world that visit Orlando earning the city the title of “The World’s Number One Vacation Destination.” Festival Bay at International Drive already enjoys the benefit of having over 15 million visitors per year drive by its “front door” on International Drive, many of whom currently shop at Belz Factory Outlet World and Belz Designer Centre

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