At the Washington Square Mall in Indianapolis, Indiana, Kohan paid $1.1 million in October to stop a planned tax auction, according to county officials there. 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. Rotterdam Square Mall in New York went dark after Kohan failed to pay a $300,000 bill. 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? He said he'll have results to present in April. Earlier, Kohan paid off a 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. WebFinance Department. The City of Lawton threatened to sue Kohan, claiming the company continued to collect rent from stores after the sale closed and the mall was owned by the city. A check written for an earlier payment had bounced. Email notifications are only sent once a day, and only if there are new matching items. Kohan Retail Investment Group employs 56 employees. Having problems? [75], Due to lack of payment on a $300,000 bill, Rotterdam Square Mall lost power on February 12, 2015. Ideas include housing, agriculture, research and development or warehousing, as well as retail. [66] Lincoln Mall was demolished starting in May 2017. Daniel Galvan, a Coldwell Banker commercial broker based in McAllen, is handling the sale. Benderson Development declined to comment. CEO Mike Kohan said they purchased the mall for $9.2 million earlier this month. [59] Fashion Square Mall was purchased at auction in September 2022 for $10.8 million. There was a problem saving your notification. Get hyperlocal forecasts, radar and weather alerts. We have grave reservations, Hamburg town supervisor James Shaw told the court. Phone calls to Kohan by the Times Record News for comment on his plans for Sikes Senter and his property problems have not been returned. There is a lot that we can learn. Hello, Chapel Hill Business Park. James Maher announces internship program, The largest looming threats to the world economy in 2023, per financial experts, Empire Hemp owners talk about finding employees. [100] Kohan paid almost $300,000 in unpaid bills and fees to avoid the sheriff's sale. "His companies have operated some regional malls successfully," Shaw said, referring to KRIG CEO Mehran Kohansieh, who also goes by the name Mike Kohanand uses several aliases. [79] VF Factory Outlet Mall closed in October 2017. [56] Fort Steuben Mall was sold by Kohan to Brookwood Capital in February 2022. [39] Kohan later sold another Virginia Center Commons anchor building for $4.1 million to Impact Investments Group LLC in April 2020. 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. Always pushing forward to develop the best. 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. If Kohan buys your mall RUN! 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. Glassdoor has 14 Kohan Retail Investment Group reviews submitted anonymously by Kohan Retail Investment Group employees. 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. No company is perfect. City officials in Kenner, La. 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. Like other malls, Sikes Senter has struggled in recent years with vacant storefronts. No longer listed on the Kohan website as of November 2022. [79] Kohan owed $627,789 in property taxes on the Washington Square Mall in 2017, and the mall was put up for tax sale. Though malls have long been on the decline, the Covid pandemic hit them hard. Parts of the property later went up for tax sale, were not sold, and the assets transferred to Jefferson Parish. (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). Winds SE at 5 to 10 mph.. Cloudy. Kohan owned the Rotterdam Square Mall near Schenectady, New York, for just about a year in 2014 and 2015. Its a regional priority, too, with the Berkshires chronically short of jobs. Kohan also owns the Great Northern Mall in Clay, N.Y., where he owes $3.4 million in delinquent taxes, with a tax auction looming in 2021 if the debt is not resolved, according to the Onondaga CountyProperty Tax Service records. Cali While hotels may seem to be a far cry from 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. Kohan couldnt be reached for comment Wednesday. 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. The Lawton incident was one of numerous legal entanglements Kohan has experienced. The mall was bulldozed in 2017. Douglas Development has similar plans for Boulevard Mall. The bill was paid the day electric was to be shutoff. Kohan finalized the purchase from Sure Fire Group LLC, a group of local investors, for $10.2 million on Tuesday, paying $4 million of the total price with cash, said Chapel Hill Mall in Ohio fell into foreclosure last year, owing $753,000 in back taxes. Berkshire Mall in Massachusetts closed four times following power cutoffs for non-payment. Why is this public record being published online? [79][19] Chapel Hill Mall almost had power disconnected by Ohio Edison due to unpaid bills in April and December 2019. I have been working at Kohan for a year now. Rick Kelley, Valley Morning Star, Harlingen, Texas, Lori Lightfoot becomes the first Chicago mayor in 40 years to lose re-election, Fiery Greece train collision kills 32, injures at least 85, A condition called POTS rose after covid, but patients can't find care, Drones fly deep inside Russia; Putin orders border tightened, Rep. Lauren Boebert Gets Absolutely Schooled By Jamie Raskin Using Trump's Own Words, SoCal storm timeline: More snow, heavier rain expected Wednesday, While California wearies of snowstorms, Northeast greets one, These 2 Summit County homes sold for $500,000 or more the week of Dec. 27, Jefferson Parish issues boil water advisory. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Advance Local. [84] Due to Kohan not paying Lycoming Mall's PPL electric bill, it lost power in late August 2018. 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. Kohan Retail Investment Group of Great Neck, New York, has purchased Montgomery Mall in a foreclosure sale for $55 million. We are absolutely happy to have investment and people taking an interest to develop our county, Thomas said. The shutdown came the same week the towns Baker Hill Road District won a court judgment against Kohan for $294,203. You have permission to edit this article. [12][66] Matteson, Illinois took over ownership in June 2014 and it closed in January 2015 after running out of money. Some of those properties have had some successes. None.. terrible job with no benefits, huge expectations for minimum wage. This case was filed in U.S. District Courts, WebKohan in March 2021 owed $320,000 in back taxes on The Esplanade. [67][66][68] At the malls closure, over $10 million in fines and taxes was owed to Matteson by Kohan. Community Rules apply to all content you upload or otherwise submit to this site. Sign up for our newsletter to keep reading. The affidavit says the town is concerned regarding Kohan's "financial wherewithal.". [38] Virginia Center Commons was sold to VCC Partners LLC and Shamin VCC LLC in early 2020 for $8.3 million. (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. for $17 million. Learn more about recent acquisitions, upgrades, and other information. Just an awful company, mall management is laughable as well. Some examples include: Woodville Mall in Ohio, purchased in 2009, was closed by court order in 2011 due to structural issues including holes in the roof, mold and mildew. A message was left with Kohan Retail Investment Group owner Mike Kohan. [23] Fort Steuben Mall was purchased for $10.75 million in December 2018. [21][78] Berkshire has also suffered from a series of power outages. The Feb. 15HARLINGEN Valle Vista Mall, purchased by the Kohan Retail Investment Group in 2018, is back on the market. Cancellation and Refund Policy, Privacy Policy, and We are looking at what parts of the property we can keep and repurpose.. [29] Berkshire Mall was sold to Durga Property Holdings for $1 million in July 2019. [28], Parts of Marquette, Michigan's Westwood Mall was sold to two different owners in February 2019, one being Kohan. The corporate office of Kohan Retail Investment Group is a great place to work at. It was demolished in 2017. [2][76] The mall was later sold to ViaPort USA for $9.25 million. - Great office location. WebManagment (Former Employee) - New York, NY - February 4, 2021. 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.. Kohan Retail Investment Group of New York, which acquires financially distressed malls at bargain basement prices, announced this month it is purchasing the mall in Wichita Falls. Check the latest closings and delays for schools, business, and churches around CNY and the Mohawk Valley. The mall was slated for demolition in 2012. Our county economically is doing fantastic, I really hope this sale is a sign of great things to come for the area.. The company has plans to redevelop the site with restaurants and hotels. The bill was paid the day electric was to be shutoff Mike Kohan acquisitions, upgrades, and around! Have Investment and people taking an interest to develop our county economically is kohan retail investment group lawsuit fantastic, i hope! 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