09/22/2025
Stop me if you've heard this story around Danville before....
VILLAGE MALL BACK UP FOR SALE....
DANVILLE — A year after three Village Mall properties sold at auction, two appear to be up for sale again.
The parcel at 2917 N. Vermilion St. — a 126,153-square-foot “fully occupied grocery-anchored shopping center with national tenants” — is currently listed on LoopNet with a selling price of $7.187 million. Current tenants include County Market, Pet Supplies Plus, Ross Dress for Less and Dunham’s Sports.
Meanwhile, the interior-corridor mall building itself, purchased at auction last year for $470,000 by Jimmy Virk, CEO of California-based Beyond Bancard, is listed for an “undisclosed rate” on the Crexi.com real-estate site.
Danville Mayor Rickey Williams Jr. was optimistic about the company’s finances and having leases close to being finalized with Five Below and a movie theater.
He said he’s disappointed the city wasn’t contacted about the properties being put up for sale again this summer. He said the city had offered incentive packages to help with the redevelopment of the mall.
The owners, however, haven’t worked with the city on those incentives and apparently won’t use their private funding or can’t get financing of around $3.2 million to put into the property, Williams added.
The mall site was put up for sale last year by then owner AZT Corp., which cut short the leases of multiple tenants.
The city has emphasized it will be “proactively” enforcing building-code and maintenance standards for the mall property and will hold buyers liable for the condition of the structure and parking lots.
After last year’s auction, Williams confirmed there were local bidders, including the city itself being an unsuccessful bidder.
He said the city was “working behind the scenes” to get the property in the hands of investors who can make it “something we can be proud of.”
Messages to mall representatives haven’t been returned.
https://www.news-gazette.com/business/property-at-danvilles-village-mall-back-up-for-sale/article_93369f0f-d507-4726-9440-32f718e9da9e.html
The parcel at 2917 N. Vermilion St. is currently listed on LoopNet with a selling price of $7.187 million. Meanwhile, the interior-corridor mall building itself is listed for an “undisclosed