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Va's Natural Bridge sold, destined to be a park

Thursday - 2/6/2014, 2:40pm  ET

STEVE SZKOTAK
Associated Press

RICHMOND, Va. (AP) -- Virginia's Natural Bridge has been sold by its private owner to a conservation group and is destined to become part of the state park system.

Under a deal sealed Thursday, Washington, D.C., real estate developer Angelo A. Puglisi sold the naturally formed, 90-foot-long limestone bridge and 1,500 surrounding acres for $8.6 million. He tossed in the bridge, valued at $21 million, and will receive tax credits in exchange.

The deal is a fraction of the attraction's estimated $40 million value.

The property includes 35 parcels, caverns, a 150-room hotel and cabins.

The 215-foot-high stone bridge was once owned by Thomas Jefferson and has been a centuries-old tourist attraction. It is located south of Lexington.


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