The fire took place at the Quail Corners Shopping Center on Millbrook Road around 1:30 a.m. Wednesday.
Fire investigators said the sign was in the window of a shoe repair shop. A dry cleaners next door was also damaged.
Fire officials said the flames spread quickly through the buildings to the attic, causing extensive damage.
The shopping center is no stranger to fire. In 1999, several fires damaged businesses there.
Damages are estimated at $200,000 to $300,000.