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FIRST UNION ANNOUNCES GRAND OPENING OF NEW ANCHOR TENANTS AT TWO RIVER MALL

 CLEVELAND, June 7 /PRNewswire/ -- First Union Management, Inc. announced today the grand opening of U.S. Factory Outlet (USFO) and Wholesale Depot at Two Rivers Mall in Clarksville, Tenn. USFO is an off-price manufacturers' outlet operating 22 stores in 8 states for approximately 300 suppliers. Wholesale Depot is a cash and carry membership wholesale warehouse which operates in the northeastern and southeastern United States. USFO and Wholesale Depot will combine to occupy nearly 120,000 square feet of retail space at Two Rivers Mall.
 USFO is also constructing a new 59,000 square foot store at First Union's Mountaineer Mall in Morgantown, W.Va. An August grand opening is planned. In addition, both USFO and Wholesale Depot are discussing new store locations at several other First Union shopping malls.
 Gene Newman, president of First Union Management, Inc., commented, "We are excited about the grand openings of these two value oriented retailers and fully expect their stores to serve as a catalyst to attract numerous additional tenants to Two Rivers Mall. With a new 126,000 square foot Wal-Mart store also under construction at Mountaineer Mall, our objective is to have both of the malls substantially leased by year end."
 First Union Management, Inc. leases and operates 15 malls and 16 other commercial properties around the country which are owned by First Union Real Estate Investments (NYSE: FUR) of Cleveland.
 -0- 6/7/93
 /CONTACT: Gene W. Newman of First Union Management, Inc., 216-781-4030/
 (FUR)


CO: First Union Management, Inc. ST: Ohio, Tennessee IN: CST SU:

BM -- CL021 -- 6158 06/07/93 15:33 EDT
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Publication:PR Newswire
Date:Jun 7, 1993
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