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FIRST UNION REAL ESTATE ANNOUNCES U.S. FACTORY OUTLET AS SECOND ANCHOR TENANT AT TWO RIVERS MALL

 CLEVELAND, Feb. 22 /PRNewswire/ -- First Union Management, Inc. announced today that a lease has been signed with U.S. Factory Outlet (USFO) for 41,000 square feet at Two Rivers Mall in Clarksville, Tenn. Established in 1983, USFO operates stores in Colorado, Florida, Minnesota, New Mexico, New York, North Dakota, South Carolina and Virginia. USFO is a manufacturers' outlet for approximately 300 suppliers operating in a close-out store format. It carries a variety of merchandise including men's, women's and children's clothes and accessories, as well as women's plus sizes. Additionally, it merchandises linens, domestics, housewares, kitchenware, luggage and arts and crafts. It offers items at discounts of 30 to 60 percent off department store prices.
 USFO is the second anchor tenant signed to a lease in the last two months at Two Rivers Mall. It will join the 78,000 square foot Wholesale Depot scheduled to open in May 1993. With both anchors in place, the company can now launch its leasing plan to achieve full occupancy of the mall by 1994. Construction is scheduled to begin mid- March and a grand opening is planned for June 1993.
 Two Rivers Mall is a 224,000 square foot enclosed mall, managed by First Union Management, Inc., that has been targeted for redevelopment into a value-oriented retail format. First Union Management, Inc. leases and operates 15 malls and other properties owned by First Union Real Estate Investments (NYSE: FUR) of Cleveland.
 -0- 2/22/93
 /CONTACT: Gene W. Newman of First Union Real Estate Investments, Inc., 216-781-4030/
 (FUR)


CO: First Union Real Estate Investments, Inc. ST: Ohio IN: SU:

KK -- CL007 -- 8889 02/22/93 10:47 EST
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Publication:PR Newswire
Date:Feb 22, 1993
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