Springfield broker lists Jamestown Plaza on market

Mike Fusek of Sperry Van Ness/Rankin Co. last week listed a retail center at the entrance to the sprawling, planned Jamestown development on the market for sale, lease or trade.

Jamestown Plaza, a 17,100-square-foot office and retail center at 203 S. Jamestown Blvd. in Rogersville, is separate from the larger Jamestown development, which came under ownership by Greene County late last year.

Fusek said the plaza is owned by Queen City Investment & Development LLC, the entity - founded by Rogersville developer Steve Mangan and his son-in-law, former pro-baseball player Johnny Damon - that built the retail development directly off U.S. Highway 60 in 2009. Fusek said they previously listed the property - which houses one tenant, a music store - before bringing it to him. The plaza had three tenants at its peak, he said.

The plaza is listed for sale at $900,000 or for lease at $7 per square foot. The property listing says the “motivated” seller would consider all trades.

Fusek said owners are open to vacant or occupied land and buildings in the Springfield area as trade. He noted such transactions are unique for commercial buildings.

“Not often does somebody want to trade their building for something else, because they want the money. These guys just want to move on to a new investment,” he said.

Located across the highway from Citizens Bank of Rogersville, the 2.5-acre Jamestown Plaza serves as an entrance to the roughly 200-acre, mixed-use Jamestown development planned by developer Stephen Cope.

Now owned by Greene County, the development never got off the ground, leading to Cope’s Jamestown LLC filing Chapter 11 bankruptcy in May 2013, according to Springfield Business Journal archives.

County officials assumed ownership of the property in an October sheriff’s tax sale for $13.62 million after receiving no public bids. Officials said they would sell the property piece by piece.

Greene County Presiding Commissioner Bob Cirtin said yesterday sales are off to a slow start.

“We have had somebody make offers, but we haven’t accepted any of them yet. Our goal is to sell some lots so someone will put in some foundations,” he said.

Cirtin said Logan-Rogersville Schools is considering buying a couple lots next to the elementary school it planted at the Jamestown development.