Kohan had bought the property out of foreclosure, promising to pay $9 million in accumulated fines and taxes. Uses several aliases including Mike Kohen, Mehan Kohansiek, Mehran Kohansieh, Mehran Kohansiek, and Mehrzad I. Kohansieh. SIORDIA vs MORENO VALLEY HALL HOLDING, LLC, MICHAEL WOHL, AS PERSONAL REPRESENTATIVE OF THE ES -VS- NORTH FLORIDA REGIONAL MEDICAL CENTER, INC et al, HUBERTA DANIELS V. PREMIER RESORTS AND MANAGEMENT INC. Verify your email to use filters. The town recently rezoned the land under McKinley Mall and its ring properties hoping to attract a broader pool of buyers ones that would bring exciting ideas and breathe new life into the struggling property. Thomas said Kohans background raises concerns, butthecounty auditors office iswilling and ready to help makeKohans venture a success and he hopesKohanwill be as good a community partner as was Sure Fire Group LLC. Others, however, have been engulfed in trouble, according to widespread news reports. [72][73] Worthington won a court decision about the former Kmart in June 2014, and demolition began in February 2015. 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. [1] After purchasing Woodville Mall in 2009, it was closed in December 2011 by court order, and demolished by Northwood, Ohio in March 2014 due to its poor material condition. They just take from the property without any investment back into it. [12][66] Matteson, Illinois took over ownership in June 2014 and it closed in January 2015 after running out of money. Company is growing and there are always new changes that need to be made. He owes $753,733 indelinquenttaxes to Summit County, said Mike Migden, chief deputy fiscal officer. Despite that improvement, the mall may well be in financial trouble. Learn More. [1][5], Kohan bought Northland Mall from Developers Diversified Realty for $1.8 million in late December 2008. Nobody bid, so the local parish now owns the mall. [23] Part of Eastland Center was purchased in 2018 for $3.125 million. Tennessee-based CBL & Associates, the previous owner of the main mall building and tenant spaces, as well as outlots, has filed for Chapter 11 bankruptcy. As tenants empty that shopping center, the first step would be to lay new roads and sewers that would serve the residential and commercial properties. YouTubes privacy policy is available here and YouTubes terms of service is available here. 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. If you purchase a product or register for an account through one of the links on our site, we may receive compensation. Copyright Kohan Retail Investment Group 2016-2021. [81][82] In August 2018, Kohan sued Clay, New York for a reduction in the Great Northern Mall's taxes, while owing $1.53 million to county government. The lawsuit is known as Bautista v. Valero Marketing and Supply Company , Case No. [62] Santa Fe Place was acquired in January 2023. Jamestown Mall in Missouri was foreclosed in 2011. [29] Berkshire Mall was sold to Durga Property Holdings for $1 million in July 2019. The closing of the sale is to be finalized January 18th. Hello, Chapel Hill Business Park. [93] The mall also had electric and water payment issues the same month. Local officials in Matteson, Ill., labeled Lincoln Mall a public danger because the fire sprinkler system had been dismantled, the roof began crumbling and electrical wiring was exposed. And the pandemic hastened the already sweeping trend toward online shopping. [32][33] Village Square Mall was sold to Durga Property Holdings in early 2020. Public Records Policy. If you do not agree with these terms, then do not use our website and/or services. Last May, The Akron Beacon Journal reported Kohan had financial troubles at another property the Berkshire Mall in Massachusetts. Cookie Settings/Do Not Sell My Personal Information. The one reviewer that said there was room for growth must be the owner. [74] The mall was sold to 7&41 LLC in May 2015. [8] The Orchards Mall, purchased in 2014, was sold to Durga LLC in late 2018. In early January, the city of Akronprepared to disconnect water service to the mall when the investment group made a $100,000 payment to keep the water running, allowing the remaining shops to stay open. [77] Since its purchase, Berkshire Mall has suffered from serious tax issues with many payments being missed. But the New York-based firm doesn't plan on keeping the whole thing. Overall, it is a great company to work for. [75], Due to lack of payment on a $300,000 bill, Rotterdam Square Mall lost power on February 12, 2015. And the best part of all, documents in their CrowdSourced Library are FREE! [19] Southbridge Mall during its tax sale was purchased by Kohan for $1.5 million in September 2016. Kohan Retail Investment Group lists more than 35 properties on its website. Hes very nice to work with on the phone. The mall was bulldozed in 2017. Read employee reviews and Valero denies these allegations and there has been no finding 2023 www.timesrecordnews.com. This case was filed in U.S. District Courts, "We did sell the two boxes (the mall's major store sites). [95] It was later condemned in June 2020 due to numerous serious issues. Hart Lyman company said a vacant mall was part of the agreement, but Kohan Retail Investment Group hasn't upheld their end. Last month, KRIG put in a bid of $8.5 million on the mall, which is assessed at about $10.5 million. [15] Staunton Mall was sold for $4.5 million in March 2014. Figures from the Wichita Appraisal District show the malls value has declined over the years from a high of $66.6 million in 2018 to $44.5 million in 2021. (Wood, Peter) (Entered: 09/19/2022), Docket(#3) SUMMONS Returned Executed by Philip Jewell Sr.. Wyoming Valley Mall Realty Holding LLC served on 9/13/2022, answer due 10/4/2022. Winds light and variable. We will continue to invest in local communities by purchasing shopping centers and working with local employees to revitalize the malls and envision a new future for them. Then theres the Lycoming Mall in Pennsdale, Pennsylvania, where Kohan paid $58,900 in January to settle delinquent water and sewer bills and stop an auction, according to the Lycoming County Sheriff. New York-based Kohan, known for buying up troubled malls, landed half of the Burnsville Center property at auction for about $17 million a fraction of the $64.2 million owed on the property. If Kohan buys your mall RUN! [57] Brass Mill Center and Brass City Commons was sold to Kohan for $44.9 million in April 2022. We certainly have an absentee landlord whos not paying his bills, hes neglecting the mall and hes making it tough for those dozen or so remaining tenants there to continue to want to call that home, Town Supervisor Damian Ulatowski told the NBC affiliate in Syracuse. Glassdoor has 14 Kohan Retail Investment Group reviews submitted anonymously by Kohan Retail Investment Group employees. Email notifications are only sent once a day, and only if there are new matching items. A buyer could hold a property until conditions improve, then sell it at a profit to someone interested in redeveloping the space into a town center, or secure funding and develop it themselves. 2022-07-13, Riverside County Superior Courts | Personal Injury | [83] Due to the roofs poor condition, Effingham City declared Village Square Mall unsafe in August 2018. The new owner of Sikes Senter has faced multiple legal challenges involving its properties in recent years. Just an awful company, mall management is laughable as well. [48] Lansing Mall was purchased for $9.2 million in March 2021. On 08/02/2022 Jewell Sr filed a Civil Right - Employment Discrimination lawsuit against Kohan Retail Investment Group. At other properties, taxes and utility bills go unpaid. With the action taken today, Onondaga County has now begun the process of taking over ownership of this mall and will work diligently and expeditiously to get this property redeveloped and back into productive use.. The mall has been appraised at $203 million. Lincoln Mall in Illinois, purchased out of foreclosure for $150,000 in 2012, fell into disrepair and was taken over by its town. By continuing to use this website, you agree to UniCourts General Disclaimer, Terms of Service, The Kohan group has purchased more than 20 malls nationwide, with a business plan to improve those properties and stabilize them financially. [64][65] Lincoln Mall suffered from serious material condition issues during Kohan's ownership and in August 2013 went into receivership. 212, Great Neck, NY 11021-5320 Copyright Kohan Retail Investment Group 2016-2021. By continuing to use this website, you agree to UniCourts General Disclaimer, Terms of Service, He makes a lot of promises.. {{start_at_rate}} {{format_dollars}} {{start_price}} {{format_cents}} {{term}}, {{promotional_format_dollars}}{{promotional_price}}{{promotional_format_cents}} {{term}}, attorney Raymond Fink,a partner at Lippes Mathias Wexler Friedman who is representing the Town of Hamburg, Sabres place Alex Tuch on injured reserve; top-line winger's status is uncertain, Nebraska cheerleader competes by herself at state competition, but crowd doesn't let her feel alone. [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. A look inside the former mall. The has since sold to new owners. It also alleges that Newmark, the real estate company contracted by McKinley's receiver, didn't sufficiently market the property to find additional bidders. Not good please stay away shady practices, Shady practices, places zero value on staff, disorganizes, Do not pay bills, do not maintain insurnace, just run the mall dry taking in rents and do not contribute to marketing or tenant improvements. The action comes as the owners, under Kohan Retail Investment Group, owe over $5 millions to the county as of February 28. Website. [55] Part of the Burnsville Center was sold to Pacific Square Burnsville LLC for $10.6 million in February 2022. If you are experiencing difficulties logging in or are a subscriber getting a paywall, please try one or more of the following steps. Benderson owns the McKinley Plaza across from the mall, and parcels on the mall property including its two former Macy's stores. WebMapping by Mapline. 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. Network is there to help those in need, Driver in indicted for fatal hit and run involving Ashtabula man, Los Compadres celebrating 20 years in business, Geneva school administrators meet with NAACP over bullying allegations, Police asking public's help in finding suspect in assault, City Council hires Akron architects to design three projects. New York-based shopping mall investment company Kohan Retail Investment Group has purchased the Wyoming Valley Mall in Wilkes-Barre Twp. Berkshire Mall in Massachusetts repeatedly lost power over unpaid utility bills and was almost seized over missed tax payments. ", "It's a strategic move to sell it," he added. [18] Chapel Hill Mall was purchased in July 2016 by Kohan for $8.6 million. [24] Prescott Gateway Mall was sold to Kohan for $8.8 million in February 2018, half of what the previous owners purchased it for. WebKohan Retail Investment Group is an investment management company based out of 1010 Northern Boulevard Suite 212, Great Neck, New York, United States. With the closing of many large anchor stores around the country in the past decade, those large spaces offer unique opportunities for venues of all different types:galas, expos, concerts, arcades, miniature golf, and others have found their homes at some of these spaces at our malls. (Attachments: #1 MJ Pltf Pack) (ep) (Entered: 08/02/2022), (#3) SUMMONS Returned Executed by Philip Jewell Sr.. Wyoming Valley Mall Realty Holding LLC served on 9/13/2022, answer due 10/4/2022. [21][78] Berkshire has also suffered from a series of power outages. [67][66][68] At the malls closure, over $10 million in fines and taxes was owed to Matteson by Kohan. "They are searching for avenues but it is incredibly challenging.". "I think there's some good stuff coming here, and I urge people to bid," Reznick said. Check the latest closings and delays for schools, business, and churches around CNY and the Mohawk Valley. We have grave reservations, Hamburg town supervisor James Shaw told the court. The mall closed abruptly in January 2015 after he failed to pay the power bill. Cancellation and Refund Policy, Privacy Policy, and [43], The Outlets of Little Rock were purchased for $10 million in January 2021. ", "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? 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