Dulles Town Center has been sold for $46 million to the Srinivas Chavali, CEO of Virginia Investments Property, according to the Commercial Observer.
The commercial real estate media company reported the sale by New York Life Insurance to Chavali closed on Tuesday.
Chavali also bought the adjacent site where Sears was for $6 million.
“I never could have dreamed of owning Dulles Town Center and I never could have imagined over my life that I would own a 1.2 million-square-foot mall and very few people know my name,” Chavali told the Commercial Observer.
Chavali, who also owns a couple of the mall’s anchor store properties, namely the former Lord & Taylor and the J.C. Penney Co., said he planned to renovate parts of the mall and may possibly build mixed-use developments on the property, according to the report.
Feature image, Sevenstock Studio, stock.adobe.com
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