Now that it is known that two of the three portions of the Danville Village Mall that were sold via online auction last year are up for sale again, the two questions are what went wrong and what’s next. Jimmy Virk, CEO of California-based Beyond Bancard; had purchased the occupied portion of the mall anchored by County Market, Pet Supplies Plus, Ross Dress for Less, and Dunham’s Sports. This all is listed on Loopnet with a selling price of $7.187 million. Then, there was the interior corridor mall building itself, purchased by Virk for $470,000; but now listed for an “undisclosed rate” on the Crexi.com real estate site.
Mayor Rickey Williams, Jr says he is not sure of the mindset of Virk’s company, nor the reason for a change of heart, because there has been little communication. He says the city offered various partnerships and incentives; but now it seems to be at a dead end.
Mayor Williams speaks during Tuesday morning Fire and Police Department swearing in ceremonies.
AUDIO: What I would say is it seems that they’re unwilling to make the investment that it would take to bring the things that they have lease opportunities for. They’ve had on their desk for months now a lease for a movie theater, and a lease for a Five Below. But unfortunately they have not brought forth the investment resources that are needed to make those come to fruition.
The mayor also said he is not sure of the timeline for finding a new owner.
AUDIO: There hasn’t been any communication for months. It’s listed online. So I’d imagine they’ll attempt to sell it that way. And then, who knows; if it doesn’t move forward in that manner.
The mayor also encouraged Danville area residents to not pay attention to the possible return of any previous rumors about the future of the mall, and to focus on facts; in order to not hinder the efforts to bring in what is wanted.
