Company Press Release: Peabody Hotel Group
December 21, 1999
TEMPE, AZ -- Retailers and restaurateurs hoping to become part of Arizona's hottest development opportunity can
learn more about the ``WaterWalk'' project in Tempe by logging onto http://www.waterwalktempe.com.
WaterWalk is a development of Belz-Burrow Development Group in Jonesboro, AK. Plans include one million square
feet of office, retail, restaurant and theatre space to be located on the north shore of the new Rio Salado Town
Lake in Tempe, AZ.
The site offers general information about the project. Interested ``WaterWalk'' tenants call Belz-Burrow at 870-932-1400
for a password to access the leasing section of the site. The leasing section offers detailed maps and square footage
of the project's office, retail, restaurant and theatre space.
Situated on a 220-acre man-made lake, ``WaterWalk's'' building and landscaping architecture will provide visitors
with an escape from the desert in a resort-like setting. Plans include 450-thousand square feet of unique shopping
and dining, a 22-screen grand palace movie theatre and an outdoor stage with entertainment and a nightly laser
light show.
``We're looking for tenants that will draw Tempe citizens and visitors back time and again,'' said Marty Belz,
Peabody Hotel Group Chairman.
Open air markets and meandering streams will add to the destination's exquisite ambience. Water taxis will take
visitors across the lake to WaterWalk's companion project, the Peabody Hotel Tempe, also now online at http://www.peabodytempe.com.
The 1,000 room Peabody Hotel featuring 125,000 square feet of first-class convention and meeting space will be
the largest hotel in the Southwest outside of Las Vegas. The site has up-to-date information on the development
and a description of the hotel and it's amenities. The site also features artist renderings and a map that shows
where the hotel is located on the lake.
``WaterWalk'' is a development of Belz-Burrow Development Group and is projected to begin construction next year,
with the retail space opening about 12 months later in early 2001. Work on the 493-thousand square feet of office
space is planned to start in mid-2000, with an opening date projected in early 2002.
Groundbreaking on the Peabody Hotel Tempe also is planned for mid-2000, with opening slated for 2002.
SOURCE: Peabody Hotel Group