(Excerpt) Tysons Corner Center and The Fashion Centre at Pentagon City are for sale.L&B Realty Advisors of Dallas owns all of Tysons Corner and part of the Fashion Centre on behalf of several institutional investors. But L&B wants to target secondary markets and develop lifestyle-type shopping centers.
Indianapolis-based Simon Property Group, which also manages Fashion Centre, will buy the remaining interest, according to a source familiar with the negotiations.
With 2.1 million square feet, Tysons Corner is the 10th largest mall in the country; it had average sales per square foot of $585 in 2000. The 819,000-square-foot Fashion Centre would not disclose 2000 sales per square foot. But it traditionally has posted the highest such figure in the area-- $750.
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I had no idea Tysons was the 10th largest. Wow! That place is a nightmare at Christmas; guess I can understand why now!
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