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FACTORY MERCHANTS MALLS ACQUIRES LAND, PLANS EXPANSION OF BARSTOW, CALIF. OUTLET MALL

 FACTORY MERCHANTS MALLS ACQUIRES LAND,
 PLANS EXPANSION OF BARSTOW, CALIF. OUTLET MALL
 LOS ANGELES, Oct. 14 /PRNewswire/ -- Angeles Corp. (AMEX: ANG) has announced that its Factory Merchant Malls Inc. affiliate has acquired 20 acres of land adjacent to its factory outlet mall in Barstow, Calif., to provide for a 128,000-square-foot expansion to the existing 201,000-square-foot facility.
 Angeles President Joseph Cattivera said, "We are very excited about acquiring this land and the opportunity to expand our mall. Sales are brisk in our 53 factory-operated stores, and there is strong demand for more shops from manufacturers, including those who make top-name designer labels."
 Pre-commitments in the expansion, which is scheduled to open fall 1993, are triple the available space, and executed leases are being returned rapidly. Cattivera also added that expansion plans will provide for another addition to the mall in 1995.
 Located along Interstate 15, the highway between Los Angeles and Las Vegas, the Barstow mall generated retail sales of $50 million in 1991.
 Among the largest owner/operators in the rapidly growing outlet mall business, Factory Merchants also has malls in Missouri, North Carolina, Tennessee and Virginia.
 Angeles Corp. is a Los Angeles-based real estate investment management company with $1.5 billion of real estate assets owned or under management for corporations, institutions and individual investors.
 -0- 10/14/92
 /CONTACT: Steve Leach of Angeles, 800-421-4374, ext. 598, or 213-284-3598/
 (ANG) CO: Angeles Corp.; Factory Merchants Malls Inc. ST: California IN: REA SU:


BP-EH -- LA019 -- 9913 10/14/92 13:25 EDT
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Publication:PR Newswire
Date:Oct 14, 1992
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