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WAL-MART TO OPEN AT MOUNTAINEER MALL, MORGANTOWN, WEST VIRGINIA

 CLEVELAND, March 30 /PRNewswire/ -- First Union Management, Inc., announced today that a 20-year lease has been signed with Wal-Mart for a new 126,000 square foot store at its Mountaineer Mall in Morgantown, W.Va. Build-out of the new super store will begin within 30 days with an expected fall opening date. Wal-Mart is a national retail chain which currently operates 1,892 stores in 45 states and Puerto Rico. This will be Wal-Mart's first store in the Morgantown area.
 Gene Newman, president of First Union Management, Inc., stated, "We are very pleased about our new affiliation with Wal-Mart and anticipate their presence will serve as a catalyst for future specialty shop leasing activity." Newman added, "The Wal-Mart store has been designed for a family shopping experience, featuring quality merchandise at everyday low prices, exceptional customer service, commitment to community involvement and a partnership with its employees. As a result of the new store, approximately 245 jobs will be created for area residents."
 Wal-Mart is the first of two new anchor tenants expected to open in 1993 at Mountaineer Mall. Newman further stated, "We plan to announce the second anchor within the next ten days."
 Mountaineer Mall is a 668,000 square foot enclosed mall with traditional and value-oriented retailers. Additional anchors are Montgomery Ward and Stone & Thomas. The center is managed by First Union Management, Inc., which leases and operates 15 malls and other properties owned by First Union Real Estate Investments (NYSE: FUR) of Cleveland.
 -0- 3/30/93
 /CONTACT: Gene W. Newman of First Union Management, Inc., 216-781-4030/
 (FUR WMT)


CO: First Union Management, Inc.; Wal-Mart ST: West Virginia IN: FIN REA SU:

BM -- CL006 -- 0957 03/30/93 10:41 EST
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Publication:PR Newswire
Date:Mar 30, 1993
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