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FACTORY MERCHANTS MALLS ACQUIRES LAND, PLANS EXPANSION OF BRANSON, MO., OUTLET MALL

 FACTORY MERCHANTS MALLS ACQUIRES LAND,
 PLANS EXPANSION OF BRANSON, MO., OUTLET MALL
 LOS ANGELES, Aug. 4 /PRNewswire/ -- Angeles Corp. (AMEX: ANG) has announced that its Factory Merchants Malls Inc. affiliate has acquired 9.2 acres of land adjacent to its factory outlet mall in Branson, Mo., to provide for an initial 100,000-square-foot expansion to the existing 190,000-square-foot facility.
 Angeles President Joseph Cattivera said, "We are very excited about acquiring this land and the opportunity to expand our mall," the only one of its kind in the country music boom town of Branson in southwest Missouri's Ozark Mountain Region.
 The mall first opened for business, while still under construction, in June 1988, when only a few nationally known country performers like Roy Clark from "Hee Haw" and Grand Old Opry star Boxcar Willie had theaters in the area. Today Branson has become the "Broadway of country music," with its 26 music theaters and two outdoor amphitheaters.
 Six million people are expected to visit Branson this year. Recent theater openings include the 4,000-seat Grand Palace, easily the largest indoor theater
in town. Louise Mandrell and Glen


Campbell will be hosts throughout the 1992 season. Also open is Andy Williams' 2,000-seat Moon River Theater.
 "Our mall of 50 factory operated stores is 100 percent occupied, and we are pleased to be one step closer to opening 30 additional stores," Cattivera said. "Preliminary tenant interest in the expansion is triple the amount of space available." Cattivera also added that expansion plans will provide for another 75,000- to 125,000-square-foot third phase addition.
 Among the largest owner/operators in the rapidly growing outlet mall business, Factory Merchants also owns a mall in Osage Beach in the Lake of the Ozarks region of Missouri. A 135,000-square-foot expansion to that 190,000-square-foot mall is now under way, with completion expected early this fall. This expansion is fully leased, and additional space is being considered for the summer of 1993.
 Angeles Corp. is a Los Angeles-based real estate investment management company with approximately $1.5 billion of assets under management.
 -0- 8/4/92
 /CONTACT: Steve Leach of Angeles Corp., 800-421-4374, ext. 598, or 213-284-3598/
 (ANG) CO: Angeles Corp.; Factory Merchants Malls Inc. ST: California, Missouri IN: REA CST SU: RLE


JL-KJ -- LA023 -- 6756 08/04/92 14:57 EDT
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Publication:PR Newswire
Date:Aug 4, 1992
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