The Orange Park Mall sold for $65.5 million, according to Clay County Clerk of Court records.<\/p>\n
The deed shows a sale date of Aug. 20. The sale was recorded Aug. 22.<\/p>\n
Boca Raton-based Second Horizon Capital announced it bought the 950,000-square-foot center at 1910 Wells Road from Washington Prime Group on Aug. 19. It did not disclose the sales price.<\/p>\n
Second Horizon Capital bought the mall through Wells OP Holdings LLC. Washington \u00a0Prime Group sold it through Orange Park Mall LLC.<\/p>\n
The sale comprises two parcels totaling 59.6 acres. Other property that makes up the total 77-acre mall area is separately owned.\u00a0<\/p>\n
Second Horizon said in an Aug. 20 news release it plans immediate investments in the mall, including upgrades to common areas, safety, infrastructure and community programs.<\/p>\n
The firm also said it \u201cwill expand the mall\u2019s programming calendar and foster more local partnerships to support its ongoing role as a community hub.\u201d<\/p>\n
\u201cThroughout its 50-year legacy, Orange Park Mall remains a core retail destination for the Clay County community and greater Jacksonville area,\u201d said Second Horizon Capital Managing Partner and co-founder Howard Levine.<\/p>\n
The mall opened Sept. 24, 1975.<\/p>\n
\u201cWe see significant opportunities to strengthen this center through targeted investments in the center\u2019s retail line-up, operating capabilities and community engagement,\u201d Levine said. \u201cOur focus is to help ensure that Orange Park Mall remains a welcoming and vibrant destination for residents, visitors and tenants for decades to come.\u201d<\/p>\n
The acquisition is Second Horizon\u2019s sixth since its 2021 founding. Its portfolio includes malls in Illinois, Massachusetts, Utah, Arkansas and Virginia.<\/p>\n
The company hired CBRE Group to manage the mall\u2019s property and leasing.<\/p>\n
Ohio-based Washington Prime Group put the mall up for sale in April along with the rest of its portfolio of shopping centers.<\/p>\n
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