The Belz Report, Summer 1997

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Industrial Division Has Big Plans for 1998

If Belz Enterprises’ industrial real estate division keeps pace with its first quarter leasing activity, 1998 could be a record year.

The industrial division leased 550,000 square feet of distribution and warehousing space during the first quarter of 1998. The first quarter numbers are more than half of the 950,000 square feet the company leased in 1997, which was a banner year for the company.

“The demand for distribution and warehousing space could very well outpace the supply in 1998. The demand for Memphis is incredible,” said Andrew J. Groveman, senior vice president of marketing and administration for Belz Enterprises. “For Belz Enterprises as well as others, I know that as soon as a property is built, there is already a list of potential tenants.”

“We’ve had a growth trend that has been good over the last several years, but 1998 looks great for the entire region. Memphis is definitely America’s Distribution Center.”

Belz Enterprises has announced a lease with Enfield Logistics of Boca Raton, Florida, for its new 385,000-square foot warehouse and distribution building at Holmes Road Industrial Park in Southeast Shelby County. The Holmes Road facility is the largest speculative building the company has built in its 50-year history.

To keep pace with product demand, the company has plans for building additional speculative industrial buildings in 1998. Con-struction begins May 1 on a new 275,000-square foot building at Southridge Corporate Park, located at 4800 Southridge Boulevard. Plans also call for the purchase and development of an additional 30 acres at Southridge.

A new 150,000-square foot distribution facility and 50,000 square feet of office and showroom space will be under construction June 1 at the Shelby Oaks Business Center, located on Summer Avenue in East Memphis.

The division also is acquiring 240 acres at the corner of Holmes Road and Tchulahoma to develop more speculative buildings.

Belz Enterprises Announces 1997 Employees of the Year

Belz Enterprises is pleased to announce the 1997 Employees of the Year. “We are so proud of these fine employees and their contributions throughout 1997,” says Andrew J. Groveman, senior vice president of marketing and administration.

John Dudas has been named overall Employee of the Year for 1997. Other Belz employees who were named Employees of the Year for their divisions include Kimberly Stumm, Patricia Mosley, John Dozier, James Rhodes, Jay Snow and Megan James.

John Dudas (right) has been with Belz for 11 years and is the vice president and director of strategic planning. John works closely with Jack Belz in planning and coordinating the development of various projects, most notably the Peabody Place project underway in Downtown Memphis.

Kimberly Stumm is the Employee of the Year for the Financial Services Division. Hired as an accountant in 1995, Kim is an assistant controller and was in charge of installing the new financial system software in 1997.

Patricia Mosley is the Brokerage Division’s Employee of the Year. As a leasing administrator/administrative assistant, Patricia provides administrative support to the VP of brokerage and leasing, plans meetings, prepares weekly reports of deal tracking history and is responsible for lease preparation.

John Dozier, North Memphis asset manager, is Employee of the Year for the Asset Management Division. John joined Belz in 1988 and is primarily responsible for
analyzing, evaluating and making recommendations on more than 4,000,000 square feet of Belz
property in North Memphis.

James Rhodes was named Employee of the Year for the Corporate Division. As the network administrator, James tests and adds new software and hardware, troubleshoots and remedies a multitude of network issues.

Architectural space planner Jay Snow is the Architecture/Construction Division’s Employee of the Year. Since joining Belz in 1994, Jay has been responsible for developing architectural projects for civil, interior and developmental design, developing space plans for prospective tenants and coordinating work with outside architectural and engineering firms.

Megan James is the Employee of the Year for the Peabody Hotel Group. Megan began working with the Peabody Hotel in 1994 and is the executive administrative assistant to the president of human resources and general counsel at PHG. Megan works closely with the special event committee to coordinate special events (such as monthly luncheons), serves as the editor of the company newsletter and provides various human resources administrative support.


Seated left to right: John Dudas, Patricia Mosley. Standing left to right: James Rhodes, Jay Snow, Kim Stumm, John Dozier, Megan James.

| The Belz Report, Spring 1998 | Page 1 | Page 2 | Page 3 | Page 4 | Page 5 |