Belz Enterprises

Belz Enterprises, Inc. is a privately held American real-estate development and operating company based in Memphis, Tennessee. Its activities have included hotel ownership and operation, shopping-center development, factory-outlet projects, commercial offices, warehouses, and downtown urban redevelopment. The company was established in North Memphis in 1940 by Philip Belz, whose early work involved small retail and residential properties. It later expanded into industrial development, including a roofing-materials factory built on the former site of the North Memphis Driving Park. Over time, Belz developed a portfolio that extended beyond conventional commercial real estate. The company became particularly associated with retail centers and factory-outlet properties, including the Belz Factory Outlet Mall in Allen, Texas, opened in November 1983 through a partnership involving Belz Investment Company of Memphis and Pic Investment Corporation. The Allen project was planned with approximately 346,000 square feet of retail space and capacity for roughly 50 to 60 stores. It later declined and reportedly closed around 1987. Belz also developed outlet properties outside the mainland United States. Belz Factory Outlet World in Canóvanas, Puerto Rico, opened in 2001 and was subsequently renamed The Outlet 66 Mall. In later years, the company shifted or broadened its emphasis toward more traditional shopping centers, including strip malls, as well as office and warehouse properties. A notable Memphis project was Peabody Place, a downtown mixed-use and commercial development associated with the company’s urban real-estate activities. Hospitality has been another important part of the portfolio. Belz owns and operates the Peabody Hotel in Memphis, the historic hotel known for its downtown location and long-standing association with the city. The company previously operated Peabody Hotels in Little Rock, Arkansas, and Orlando, Florida. Both properties were sold in 2013 and subsequently operated under Hyatt and Marriott branding, respectively. The sale reduced Belz’s direct hotel operating footprint while leaving the Memphis Peabody as its principal identified hospitality property. Belz Enterprises therefore combines development, ownership, leasing, and operation across several commercial-property categories rather than functioning as a consumer product brand. Its identity is closely tied to Memphis and to the evolution of retail real estate, from traditional shopping centers and outlet malls to downtown commercial projects and diversified property holdings. Ronald A. Belz is identified as the company’s chief operating officer.

Belz Enterprises was founded in North Memphis in 1940 by Philip Belz. The company’s earliest activities involved the development of small retail and residential properties. It subsequently moved into industrial real estate, including the construction of a roofing-materials factory on land that had formerly been occupied by the North Memphis Driving Park, a horse-racing venue. The company later expanded into larger commercial projects and became involved in shopping-center and outlet-mall development. One early outlet project was the Belz Factory Outlet Mall in Allen, Texas. Developed through a partnership involving Belz Investment Company of Memphis and Pic Investment Corporation, the center opened in November 1983 with approximately 346,000 square feet of retail space and plans for about 50 to 60 stores. The property later declined and reportedly closed around 1987. Belz continued to develop factory-outlet properties in later decades. In 2001, it opened Belz Factory Outlet World in Canóvanas, Puerto Rico. That property was subsequently renamed The Outlet 66 Mall. The company also converted some older traditional retail properties into outlet-oriented centers, reflecting a period in which factory outlets represented a significant part of its development activity. Its portfolio later broadened toward more conventional commercial real estate. Belz developed or operated strip malls and other shopping centers, commercial office buildings, and warehouse space. In Memphis, Peabody Place became a prominent downtown commercial and mixed-use development associated with the company. These projects complemented rather than replaced the company’s earlier retail and industrial activities. Hospitality became another important business area through the Peabody hotel portfolio. Belz owns and operates the Peabody Hotel in Memphis. It previously operated two additional Peabody-branded hotels, one in Little Rock and another in Orlando. Both were sold in 2013; the Little Rock property later operated under the Hyatt brand, while the Orlando property later operated under Marriott branding. The company remains based in Memphis and continues to be described as a developer and operator of hotels, retail properties, and commercial real estate. Its history reflects a diversified private real-estate model combining development, ownership, leasing, and property operations. The available reference material identifies Ronald A. Belz as chief operating officer but does not provide a detailed chronology of later management changes, ownership structure, or current project-by-project operations.

• 2013

  Little Rock and Orlando hotels sold

  [1]Belz Enterprisesen.wikipedia.org

  Belz sold its Peabody Hotels in Little Rock and Orlando. The properties subsequently operated under Hyatt and Marriott branding.

• 2001

  Puerto Rico outlet project opens

  [1]Belz Enterprisesen.wikipedia.org

  Belz Factory Outlet World opened in Canóvanas, Puerto Rico; the property later became known as The Outlet 66 Mall.

• 1987

  Allen outlet mall reportedly closes

  [1]Belz Enterprisesen.wikipedia.org

  The Allen, Texas, factory-outlet property declined and was reportedly closed around this year.

• 1983

  Allen factory-outlet mall opens

  [1]Belz Enterprisesen.wikipedia.org

  The Belz Factory Outlet Mall in Allen, Texas, opened in November through a partnership involving Belz Investment Company of Memphis and Pic Investment Corporation.

• 1940

  Company founded in North Memphis

  [1]Belz Enterprisesen.wikipedia.org

  Philip Belz founded the company in North Memphis, initially developing small retail and residential properties.

A privately held, Memphis-centered real-estate developer and operator with a diversified portfolio spanning hospitality, retail, outlet centers, office properties, warehouses, and urban commercial development.

• Hotel

  The Peabody Hotel

  The Peabody Hotel in Memphis is Belz Enterprises’ principal identified hospitality property. It is owned and operated by the company and forms part of the firm’s long-running connection to downtown Memphis and hotel real estate.

• Downtown commercial and mixed-use development

  Peabody Place

  Peabody Place is a downtown Memphis development associated with Belz Enterprises. It represents the company’s participation in urban commercial redevelopment in addition to its suburban shopping-center and outlet-mall activities.

• Factory-outlet mall · 2001

  Belz Factory Outlet World

  Belz Factory Outlet World was an outlet-center project in Canóvanas, Puerto Rico, opened in 2001. The property was later renamed The Outlet 66 Mall.

• Factory-outlet mall · 1983

  Belz Factory Outlet Mall

  The Belz Factory Outlet Mall in Allen, Texas, opened in November 1983 with approximately 346,000 square feet of retail space and plans for roughly 50 to 60 stores. The center later declined and reportedly closed around 1987.

• Hotels

  Peabody Hotels in Little Rock and Orlando

  Belz formerly operated Peabody-branded hotels in Little Rock, Arkansas, and Orlando, Florida. Both properties were sold in 2013 and later operated under Hyatt and Marriott branding, respectively.

• 2013

  Sale of the Little Rock and Orlando Peabody hotelsM&A

  Background

  Belz had operated Peabody-branded hotels in Memphis, Little Rock, and Orlando as part of its hospitality portfolio.

  Action taken

  The company sold the Little Rock and Orlando properties. They subsequently became associated with Hyatt and Marriott branding, respectively.

  Aftermath

  Belz retained ownership and operation of the Peabody Hotel in Memphis while no longer directly operating the two sold properties.

  Source

• 2001

  Development of a Puerto Rico factory-outlet centerProduct launch

  Background

  Belz had developed and operated factory-outlet properties as part of its retail real-estate portfolio.

  Action taken

  The company opened Belz Factory Outlet World in Canóvanas, Puerto Rico.

  Aftermath

  The property was later renamed The Outlet 66 Mall.

  Source

• 2013

  Belz sells Peabody Hotels in Little Rock and Orlando[1]Belz Enterprisesen.wikipedia.org

  M&A · Other

  Belz sold its Peabody Hotels in Little Rock and Orlando. The properties subsequently adopted Hyatt and Marriott branding, respectively.

• 2001

  Belz Factory Outlet World opens in Canóvanas[1]Belz Enterprisesen.wikipedia.org

  Product launch

  Belz opened a factory-outlet project in Canóvanas, Puerto Rico. The property was later renamed The Outlet 66 Mall.

• 1983

  Belz Factory Outlet Mall opens in Allen, Texas[1]Belz Enterprisesen.wikipedia.org

  Product launch

  A factory-outlet mall developed through a partnership involving Belz Investment Company of Memphis and Pic Investment Corporation opened in Allen, Texas, in November 1983.

1. 1Belz Enterprisesen.wikipedia.org
2. 2Belz Enterprises official websitebelzenterprises.com