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Home Real Estate As Lerners mull Nationals sale, real estate market faces uncertainty

As Lerners mull Nationals sale, real estate market faces uncertainty

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In the 1960s, local real estate agent and up-and-coming developer Theodore N. Lerner began buying hundreds of acres of Fairfax County farmland.

“I knew the Beltway was coming and thought it would be a great location for a mall,” Lerner later explained to author Russ Banham. Lerner saw something others didn’t, and the payoff was huge. The mall he envisioned, Tysons Corner Center, opened in 1968 and ushered in an era of suburban development that made him billions.

Following the announcement Monday that Lerner and his family will consider selling the Washington Nationals — something his son Mark vowed never to do — it’s unclear what Lerner sees around the corner this time, and what it says about the family’s current financial standing. But it comes at a time of great uncertainty for the industry in which Lerner made his fortune.

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