LAKEWOOD, NJ, APRIL 1, 2005 – Betting that being Mickey Mouse’s neighbor and close to Florida’s busiest intersection will prove to be a major windfall, The Lightstone Group, one of the largest private owners of retail property in the country, announced it has entered into a contract to acquire two outlet centers located in Orlando, Florida: the 200,000-square-foot Belz Designer Outlet Center and the 700,000-square-foot Belz Factory Outlet World.
Both outlet centers are centrally located in one of the fastest growing metropolitan areas in the United States, with a population of more than 1.6 million.
Belz Designer Outlet Center, featuring 45 designer outlets including Kenneth Cole, Bose, GUESS, DKNY, OFF 5TH-Saks Fifth Avenue Outlet, Polo Ralph Lauren Factory Store and Ann Taylor Factory Store, is located in the heart of the International Drive and Universal Studios tourist area.
A block away is Belz Factory Outlet World, the largest non-anchored retail center of its kind in the country, featuring over 170 brand name stores, including Foot Locker, The Gap Outlet, Mikasa Factory Outlet, Liz Claiborne, Nautica and Van Heusen Factory Store. Belz Factory Outlet World is made up of two fully enclosed malls and four annexes and fronts Interstate 4 and the Florida Turnpike—the state’s busiest intersection with 80,000 cars passing each day. These centers are just 12 miles from Disney World.
Headquartered in Baltimore, Maryland, Prime Retail is one of the largest and most successful owners of retail centers in the U.S. Its portfolio spans approximately 12 million square feet throughout major markets of the United States and Puerto Rico. Prime Retail has embarked on a multi-million dollar re-investment and re-branding initiative and is positioned to become the leading retail outlet company in the industry. For more information please visit www.primeretail.com.
