The Sears at Orange Park Mall has sold to a Neptune Beach-based real estate development company.
The department store closed in 2020, the last of the former retail giant’s three Jacksonville-area stores to shut its doors, and the space has remained vacant.
As of May 5, the price is not public, but a recorded mortgage shows a $41.3 million loan.
Corta Orange Park FTU LLC purchased the property. Sears parent company Transform LLC sold it through TF Orange Park FL LLC..
Corta principal Cory Presnick said he could not discuss specifics of the transaction, including the sale price or what’s planned for the 189,796-square-foot department store.
The timing of the sale is consistent with redevelopment plans called Orange Park Place that are under review by The St. Johns River Water Management District and Clay County. North Carolina-based Kimley-Horn is the civil engineer.
Tenant information is sparse, with plans showing only an unidentified grocer, dental office and Mediterranean restaurant Cava.
The Clay County Development Review Committee is scheduled to discuss Orange Park Place on May 14.
Sears was one of Orange Park Mall’s original anchors when it opened Sept. 24, 1975. Sears closed its store in The Avenues mall in 2019 and the Regency Square Mall store in July 2016.
The 950,000-square-foot Orange Park Mall sold Aug. 19, 2025, for $60.5 million to Boca Raton-based Second Horizon Capital.
The sale did not affect the Sears redevelopment.
Second Horizon said it plans to begin investing immediately in the mall, including improvements to common areas, community engagement resources, safety operations and infrastructure, according to an Aug. 20, 2025 news release.
Its other properties include Chicago Ridge (Illinois) Mall; Kingston (Massachusetts) Collection; Layton Hills Mall in Layton, Utah; Park Plaza in Little Rock, Arkansas; and Stony Point Fashion Park in Richmond, Virginia.