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MARK CENTERS TRUST ISSUES ANNOUNCEMENT

    KINGSTON, Pa., Aug. 5 /PRNewswire/ -- Mark Centers Trust today announced that it has exercised its option to acquire a 48-acre parcel of land in Towanda, Pa., on which it intends to construct a 250,000- square-foot shopping center anchored by K Mart and J.C. Penney; occupancy is expected to begin in May of 1994.
    Construction financing will be provided by Mellon Bank.
    The company is a fully integrated real estate investment trust which acquires, develops, renovates, owns and operates shopping center properties located in the eastern and southeastern United States.  The company currently owns and operates approximately 5.5 million square feet of gross leasable area consisting of 26 neighborhood and community shopping centers, three enclosed malls, and two mixed-use (retail/ office) properties.
    /delval/
    -0-             08/05/93
    CONTACT:  Steve Althoff of Mark Centers Trust, 717-288-4581 CO:  MARK CENTERS TRUST; MELLON BANK ST:  PA


-- PH027 -- X441 08/05/93
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Publication:PR Newswire
Date:Aug 5, 1993
Words:150
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