A look inside the former mall. Daniel Galvan, a Coldwell Banker commercial broker based in McAllen, is handling the sale. Despite Kohans protestations, the power remained off and the mall remained closed Wednesday. Derek Gee SUBSCRIBE: $1 for 3 months The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Advance Local. [18] Chapel Hill Mall was purchased in July 2016 by Kohan for $8.6 million. LANESBOROUGH Look at the 27 malls owned by Mike Kohan and his Kohan Retail Investment Group and a pattern quickly emerges. Jamestown Mall in Missouri was foreclosed in 2011. If you purchase a product or register for an account through one of the links on our site, we may receive compensation. [88] Kohan made a partial payment to stop the auction. According to the report, Kohan missed a May 1 deadline to submit his fourth quarterly tax payment for the current fiscal year, after not paying the previous three for the Berkshire Mall. Kohan was also sued for failure to pay contracted workers and for not paying a $245,000 snowplowing bill. 2023 Advance Local Media LLC. Hes done it before. The deal would move faster if the property sold at auction. Kohan Retail Investment Group is excited to announce we have expanded our portfolio to include two stunning hotels in New York City. Community Rules apply to all content you upload or otherwise submit to this site. New York-based shopping mall investment company Kohan Retail Investment Group has purchased the Wyoming Valley Mall in Wilkes-Barre Twp. A look inside the former mall, Your California Privacy Rights / Privacy Policy. You have permission to edit this article. [50] McKinley Mall was sold to Kohan for $8.5 million in July 2021 despite protests from local business and government about the sale price. [15] Staunton Mall was sold for $4.5 million in March 2014. Get Contact Info for All Departments. The Rotterdam Square Mall has since been sold again, and redeveloped as VIA Port Rotterdam. Last May, The Akron Beacon Journal reported Kohan had financial troubles at another property the Berkshire Mall in Massachusetts. I own almost40 malls across the country.. The Berkshire Mall also owes $363,700 to Lanesborough itself, including the new taxes, back taxes and penalties, which are due May 1, according to the town. On this Wikipedia the language links are at the top of the page across from the article title. The shutdown came the same week the towns Baker Hill Road District won a court judgment against Kohan for $294,203. This is a great time for businesses to consider large spaces that can be transformed into localized shops or venues at affordable prices. We are looking at nontraditional uses of that property, he said. Adrian Mall in Michigan was condemned last year but is still operating as repairs drag on. "Hundreds upon hundreds of regional malls no longer have the financial resources to make this type of transformation," Lindsey said. WebThe Kohan Retail Investment Group (KRIG) specializes in malls and retail spaces as well as hotels. The closing of the sale is to be finalized January 18th. He owes $753,733 indelinquenttaxes to Summit County, said Mike Migden, chief deputy fiscal officer. Kohan Retail Investment Group employs 56 employees. Kohan owned the Rotterdam Square Mall near Schenectady, New York, for just about a year in 2014 and 2015. But Kohan owns the rest of the mall, according to a report on Cleveland .com, and municipal officials express frustration that he wont do a similar redevelopment or sell to someone who will. Ohio Edison threatened to turn off the electric and filed a civil complaint Jan. 13,in regard to the $195,700 Kohan owesOhio Edison, according to Summit County Court records. All rights reserved. No company is perfect. There was a problem saving your notification. The company is very understanding and helpful when required. Read employee reviews and 2022-07-13, Riverside County Superior Courts | Personal Injury | (#1) COMPLAINT against Kohan Retail Investment Group, Wyoming Valley Mall Realty Holding LLC ( Filing fee $402, Receipt Number APAMDC-6018336), filed by Philip Jewell Sr.. (Attachments: #1 Civil Cover Sheet)(ep) (Entered: 08/02/2022), (#2) Summons Issued as to Kohan Retail Investment Group, Wyoming Valley Mall Realty Holding LLC and provided TO ATTORNEY ELECTRONICALLY VIA ECF for service on Defendant(s)in the manner prescribed by Rule 4 of the Federal Rules of Civil Procedure. 5:21-CV-00706 | 2021-02-16, U.S. District Courts | Civil Right | [95] It was later condemned in June 2020 due to numerous serious issues. ", "Berkshire Mall sells for $1M after new player clears tax debt", "New owner plans changes to drive traffic at Towne West Square", "Local investors purchase Towne Square Mall", "Mall gets new owner, city to make repairs", "Chapel Hill Mall owner buys struggling Ashtabula Towne Square mall", "Seminole Towne Center owner sells to investment group with plans to revitalize struggling mall", "Local investment group buys American Family Fitness building at Virginia Center Commons for $4.1 million", "Clearview Mall under new management of NY-based retail group", "New owner says it's time to reimagine aging malls", "Outlets of Little Rock center changes hands", "City of Lawton completes purchase of Central Mall", "A 120% Loss on Vegas Mall Triggers Payday for Icahn's Big Short", "Fort Gratiot's Birchwood Mall sold for $5.6M", "New owner will convert Chapel Hill Mall into a business park", "Lansing Mall sold for $9.2 million to Kohan Retail Investment Group", "New York company purchases Oak View Mall in southwest Omaha", "Sale of McKinley Mall approved by judge, objections from town and developer denied", "Struggling Wyoming Valley Mall has new owner", "Triangle Town Center sold again but at fraction of previous price", "Plans in mind for a reimagined Crossroads Mall in Portage", "NorthTown Mall is sold, new owner plans to make it a destination", "Local investors and Illinois developer buy portion of Burnsville Center for $10.6M", "Waterbury mall and neighboring shopping center sells for $44.9M", "Fashion Square Mall in Saginaw Township purchased by Midland Mall owners", "Cumberland Mall is sold as PREIT sheds assets", "Mall at Robinson sold to New York firm in $46M deal", "Santa Fe Place mall sold to N.Y. investment group", "Orchards Mall's new owner: rescuer or bad apple? I have worked for many employers and can not emphasize how happy I am here. Story City Outlet Mall (VF Factory Outlet Mall), This page was last edited on 1 March 2023, at 09:25. [58] Indiana Mall was purchased in April 2022 for $6.9 million. "They are searching for avenues but it is incredibly challenging.". We have grave reservations, Hamburg town supervisor James Shaw told the court. Mall shopping is down and chain stores are closing. [23] Fort Steuben Mall was purchased for $10.75 million in December 2018. That mallclosed permanently in 2019. In 2016, Kohan bought the Chapel Hill Mall in Akron. Though Walden Galleria is viewed as the region's largest traditional shopping mall, owner Pyramid Cos. isfacing problemsof its own. Though he couldn't comment on KRIG specifically, University at Buffalo School of Management marketing professor Charles Lindsey said the purchase of a failing mall could pay off in the end. "They have a lot already invested in the area which makes them really a very attractive buyer from the town's perspective as being the kind of owner they would like to see," said attorney Raymond Fink,a partner at Lippes Mathias Wexler Friedman who is representing the Town of Hamburg. The Kohans malls shut down intermittently and without warning as was the case with the Berkshire Mall, which shut down for nearly a week and counting after it lost power. Kohan did not return requests for comment. [85] In September 2018, Southbridge Mall was sued by Cerro Gordo County for $177,324 in back taxes. [13] Tiffin Mall, purchased in 2012, was later sold to Key Hotel and Property Management in 2016 for $2.2 million. Kohan also owes almost $5 million in back taxes on the property. Kohan Retail is extending a hand in this transformation by offering spaces to grow new businesses. [23][86] Those taxes were paid off in December 2018, with three of the previous four checks sent to the county bouncing. ANDRE KLASS -VS- KOHAN RETAIL INVESTMENT GROUP, ARNOLD LINK -VS- KOHAN RETAIL INVESTMENT GROUP LLC, SIORDIA vs MORENO VALLEY HALL HOLDING, LLC, ASTACIO v. AMCOR RIGID PACKAGING USA, LLC. If you are experiencing difficulties logging in or are a subscriber getting a paywall, please try one or more of the following steps. Winds SE at 5 to 10 mph.. Cloudy. Rotterdam Square Mall near Schenectady had its power shut off over an unpaid $300,000 electric bill. Learn More. Thomas Matuszko, executive director of the regional planning agency, said the town and the district need the property just off busy Route 8 to be economical viable and generating revenue. Self-storage might be another idea, he said. Though malls have long been on the decline, the Covid pandemic hit them hard. The Akron Beacon Journal reported the City of Akron foreclosed on Chapel Hill Mall after Kohan failed to pay $166,000 in unpaid back taxes. More:Goodbye, Chapel Hill Mall. Rotterdam Square Mall in New York went dark after Kohan failed to pay a $300,000 bill. 2021-08-03, Alachua County - Eighth Judicial Circuit Court | Personal Injury | Cookie Settings/Do Not Sell My Personal Information. The Lawton incident was one of numerous legal entanglements Kohan has experienced. Advancement is based on merits and management encourages outside the box, forward-thinking, and appreciates a good work ethic. Kohan Retail Investment Group, a Great Neck, New York-based company, has purchased NorthTown Mall, on Spokanes North Side, says the company CEO Mike Kohan. Youll see most of the tenants are leaving the mall, he added. The company, which owns more than 50 malls nationwide, is not new to the area. [79] Kohan owed $627,789 in property taxes on the Washington Square Mall in 2017, and the mall was put up for tax sale. [57] Brass Mill Center and Brass City Commons was sold to Kohan for $44.9 million in April 2022. Ownership also owed $141,081.61 in taxes to Nobles County, Minnesota. Nobody bid, so the local parish now owns the mall. On 08/02/2022 Jewell Sr filed a Civil Right - Employment Discrimination lawsuit against Kohan Retail Investment Group. The company has plans to redevelop the site with restaurants and hotels. A check written for an earlier payment had bounced. A message was left with Kohan Retail Investment Group owner Mike Kohan. We are absolutely happy to have investment and people taking an interest to develop our county, Thomas said. It was sold to WRS Inc. Real Estate Investments in 2019. Felix Reznick, a partner with the Kohan group, said Wednesday the company is "not giving up on Harlingen, but I just don't have too many comments at this point. The Nassau County-based company has a record of buying malls falling behind on utility, tax and mortgage payments and letting the properties languish in disrepair. So what does Sabres GM Kevyn Adams do this week? Find a Great First Job to Jumpstart Your Career, Getting a Job Is Tough; This Guide Makes it Easier, Climb the Ladder With These Proven Promotion Tips, A Guide to Negotiating the Salary You Deserve. Friendly workplace, hardworking staff, great support from management. Kohan has been taken to court several times over these issues and has narrowly avoided Berkshire's seizure. But the New York-based firm doesn't plan on keeping the whole thing. Tulsa Promenade in Oklahoma went into receivership in 2019 for missed mortgage payment and maintenance issues. Why is this public record being published online? Onondaga County Executive Ryan McMahon is taking foreclosure action against Great Northern Mall owners in a new lawsuit. [98] Great Northern Mall was closed for month in January and February 2022 due to repairs for frozen pipes. More:Sikes Senter sold to New York-based investment group Kohan Retail. "If the court authorizes the purchase, Hamburg will do what it can to facilitate a successful experience.". Good company to work. An unpaid gas bill left the mall without heat, prompting tenants to use space heaters in violation of fire codes. The has since sold to new owners. [64][65] Lincoln Mall suffered from serious material condition issues during Kohan's ownership and in August 2013 went into receivership. It now stands at 15 percent. [61] The Mall at Robinson was purchased for $46 million from QIC in November 2022. [46] Kohan purchased both the Birchwood Mall and Westwood Mall in February 2021, paying $5.6 million for Birchwood. They run malls into the ground. All rights reserved (About Us). Court several times over these issues and has narrowly avoided Berkshire 's seizure Mall ), this was... Prompting tenants to use space heaters in violation of fire codes 58 Indiana... In December 2018 in December 2018 excited to announce we have grave reservations, Hamburg supervisor. 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