[20][21] Richmond Town Square was purchased for $7.25 million in November 2016. 212, Great Neck, NY 11021-5320 They just take from the property without any investment back into it. The mall also recently underwent a power outage, with sources saying the mall owes National Grid more than $800,000. It is looking into restructuring its $715 million debt on its Syracuse mall, Destiny USA. 2023 Advance Local Media LLC. Every day I learn learn something new. A message was left with Kohan Retail Investment Group owner Mike Kohan. CEO Mike Kohan said they purchased the mall for $9.2 million earlier this month. Authorities in Vero Beach, Florida,threatened to cut off power to Kohans Indian River Mall after the company failed to pay its electric bills for three months. We are absolutely happy to have investment and people taking an interest to develop our county, Thomas said. Valle Vista and its 651,000 square feet of retail space on 30 acres opened as a regional mall in 1984 and has served since as a key block in the city's economic foundation, especially when it comes to retail. Read employee reviews and (Attachments: #1 MJ Pltf Pack) (ep) (Entered: 08/02/2022), Docket(#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), Seminole County Courts | Contract | Hart Lyman company said a vacant mall was part of the agreement, but Kohan Retail Investment Group hasn't upheld their end. He owes $753,733 indelinquenttaxes to Summit County, said Mike Migden, chief deputy fiscal officer. Self-storage might be another idea, he said. In Glen Allen, Virginia, Henrico County authorities fined Kohan in October after the ventilation system failed at his Virginia Center Commons. They primarily purchase endangered/troubled shopping malls. He does have a way of coming through with the money at the very last moment, she said. Kohan Retail Investment Group is excited to announce we have expanded our portfolio to include two stunning hotels in New York City. Winds light and variable. Read employee reviews and ratings on Glassdoor to decide if Kohan Retail Investment Group is right for you. The closed Canadian border cut off a flow of customers that malls like the Walden Galleria and the Fashion Outlets relied upon. All rights reserved (About Us). 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 Akron Beacon Journal reported the City of Akron foreclosed on Chapel Hill Mall after Kohan failed to pay $166,000 in unpaid back taxes. It was demolished in 2017. [32][33] Village Square Mall was sold to Durga Property Holdings in early 2020. Website. Kohan Retail Investment Group is in the business of buying troubled malls. [9][10] Lincoln Mall was purchased during foreclosure for $150,000 in June 2012, with millions owed in fines and taxes from its previous owners. In 2016, Kohan bought the Chapel Hill Mall in Akron. 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. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. 2022-12-14, Seminole County Courts | Personal Injury | While hotels may seem to be a far cry from Benderson owns the McKinley Plaza across from the mall, and parcels on the mall property including its two former Macy's stores. Mark W. Siegars, attorney for the Baker Hill Road District, which built and maintains roads near the mall, said Tuesday that the district is still evaluating its next steps. Sikes Senter sold to New York-based investment group Kohan Retail, Goodbye, Chapel Hill Mall. [29] Berkshire Mall was sold to Durga Property Holdings for $1 million in July 2019. He said hes in talks with a marijuana entrepreneur. "Now, in fairness, they buy distressed properties and those properties are challenging," Fink said. New York-based shopping mall investment company Kohan Retail Investment Group has purchased the Wyoming Valley Mall in Wilkes-Barre Twp. A vacant storefront in the McKinley Mall. - Great office location. Kohan owned Central Mall in Lawton until January 2021, when the group sold it to the city, whose FISTA Development Trust Authority is repurposing it into a center for retail and high-tech training. Jewell Sr. v. Kohan Retail Investment Group et al. List of properties with unclear ownership. Correction: An earlier version of this story incorrectly attributed information about how much money Kohan owes to National Grid. But the New York-based firm doesn't plan on keeping the whole thing. And the best part of all, documents in their CrowdSourced Library are FREE! Even its biggest stakeholders don't agree, Eastern Hills Mall owners, Clarence agree to reduced assessment that saves $2.4M in taxes, Amherst kick-starting Boulevard Mall overhaul via 'urban renewal', Niagara University President Rev. 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. The shutdown came the same week the towns Baker Hill Road District won a court judgment against Kohan for $294,203. 2023, Charter Communications, all rights reserved. None. [99] Lycoming County Water and Sewer Authority again placed Lycoming Mall on the May 2022 sheriff's sale list due to unpaid bills. It also has a history of being criticized for the way it runs them. [59] Fashion Square Mall was purchased at auction in September 2022 for $10.8 million. At Berkshire Mall, the town and the Baker Hill District brought in the Berkshire Regional Planning Commission to come up with redevelopment plans. Despite Kohans protestations, the power remained off and the mall remained closed Wednesday. As it is a small company, we get to wear different hats and learn different things. Glassdoor has 14 Kohan Retail Investment Group reviews submitted anonymously by Kohan Retail Investment Group employees. We are looking at nontraditional uses of that property, he said. Nobody bid, so the local parish now owns the mall. 5:21-CV-00706 | 2021-02-16, U.S. District Courts | Civil Right | And I think the former Dillard's now has a tenant, but I can't tell you who it is.". [67][66][68] At the malls closure, over $10 million in fines and taxes was owed to Matteson by Kohan. City officials in Kenner, La. The Editorial Board: Local developer Benderson should have chance to submit a bid for McKinley Mall, McKinley Mall sale is approved, sidelining Benderson and Town of Hamburg, Walden Galleria owner in danger of defaulting on mortgage, What's the future of the McKinley Mall? Must-read local business coverage that exposes the trends, connects the dots and contextualizes the impact to Buffalo's economy. Daniel Galvan, a Coldwell Banker commercial broker based in McAllen, is handling the sale. The suit was filed against mall owner Michael Kohan of Great Neck, N.Y., Chapel Hill Mall Realty Holdings LLC, Southbridge Mall Realty Holdings LLC, and Kohan Retail Investment Group LLC. The Lawton incident was one of numerous legal entanglements Kohan has experienced. [22] Kohan purchased six malls in 2018 for $46 million. High 52F. At that point, management of the mall was taken up by ProEquity Asset Management Corp. before the sale to the Kohan group. We are looking at what parts of the property we can keep and repurpose.. Get up-to-the-minute news sent straight to your device. It now stands at 15 percent. Kohan couldnt be reached for comment Wednesday. (NOTICE TO ATTORNEYS RECEIVING THE SUMMONS ELECTRONICALLY: You must print the summons and the attachment when you receive it in your e-mail and serve the complaint on all defendants in the manner prescribed by Rule 4 of the Federal Rules of Civil Procedure). A further $100,000 was owed toward an overdue water bill, which was paid minutes before the city was scheduled to shut off the spigot. Finally, one place to get all the court documents we need. 5:20-CV-05378 | 2020-10-28, U.S. District Courts | Labor | ", "It's a strategic move to sell it," he added. [38] Virginia Center Commons was sold to VCC Partners LLC and Shamin VCC LLC in early 2020 for $8.3 million. Kohan says the company bought it from Brookfield Properties LLC, another New York-based real estate investment company, for $49 million in a transaction that was completed Feb. 11. [53] Montgomery Mall while in foreclosure was purchased for $55 million in November 2021. Leaders hope to redevelop the property for better use. This is a great time for businesses to consider large spaces that can be transformed into localized shops or venues at affordable prices. ButKohans company currently owes back taxes onat leasttwo otherproperties. Valero denies these allegations and there has been no finding You have permission to edit this article. Berkshire Mall in Massachusetts closed four times following power cutoffs for non-payment. In addition, the owners have been assessed a penalty fee with interest that stands at $23,508.79 as of Wednesday. [23] Fort Steuben Mall was purchased for $10.75 million in December 2018. A look inside the former mall. Copyright 2022 WIBW. I grew up the daughter of a steelworker in North Tonawanda. Public Records Policy. Indeed, some Kohan-owned malls have operated without incident. The Buffalo News reported officials in the Town of Hamburg, N.Y.,were so concerned about Kohans track record they filed an affidavit asking a court to reject the purchase of McKinley Mall. The mall has been appraised at $203 million. Later the property was put up for sale at sheriffs auction when Kohan was $300,000 in arears on taxes. An unpaid gas bill left the mall without heat, prompting tenants to use space heaters in violation of fire codes. [93] The mall also had electric and water payment issues the same month. 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. [1][7] The mall had previously declared bankruptcy in August 2011. WebAttorneys have filed a proposed class action lawsuit alleging that Philips knew well before the recall about the risks associated with these devices and that consumers are now on the Join the Kohan Retail Investment Group team, Jul 8, 2021 - Director of Human Resources, Poor company with poor leadership and shady practices. This case was filed in [56] Fort Steuben Mall was sold by Kohan to Brookwood Capital in February 2022. [4], The Crossroads in Portage, Michigan was purchased by Kohan in January 2022 for $25 million. 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. In time, redevelopment plans emerge, but with someone other than Kohan in the drivers seat much to the relief of local officials who still, even in the internet age, depend on real estate tax revenue generated by retailers. The company is very understanding and helpful when required. The decline of the Southbridge Mall mirrors that of the Berkshire Mall, which had 100 shops and restaurants when it opened in 1988. A look inside the former mall, Your California Privacy Rights / Privacy Policy. An individual is expected to work independently and adhere to a code of ethical conduct. (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. 2023 www.timesrecordnews.com. Kohan was also sued for failure to pay contracted workers and for not paying a $245,000 snowplowing bill. He said he'll have results to present in April. Mall shopping is down and chain stores are closing. (#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. Holdings in early 2020 for $ 8.3 million $ 753,733 indelinquenttaxes to Summit County, Thomas said District..., which had 100 shops and restaurants when it opened in 1988 Commission... 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