[92] Chapel Hill Mall in January 2020 was foreclosed on by Summit County, Ohio for owing $753,732.82 in real estate taxes. I cant be penalized for a problem with one or two malls,Kohan said when contacted by phone Friday. 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. [39] Kohan later sold another Virginia Center Commons anchor building for $4.1 million to Impact Investments Group LLC in April 2020. ButKohans company currently owes back taxes onat leasttwo otherproperties. Every day I learn learn something new. [53] Montgomery Mall while in foreclosure was purchased for $55 million in November 2021. [34][35] Ashtabula Towne Square and other properties was purchased for $10.2 million in February 2020. [14] Macerich sold Rotterdam Square Mall to Kohan for $8.5 million on January 15, 2014. 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. But he doesnt want to tear down all or even portions of the mall. The mall owners are in arrears for more than $700,000 in unpaid taxes, and power was shut off to the mall last week. It's enough of a concern that the Town of Hamburg has filed an affidavit asking the court to reject the purchase. City officials in Kenner, La. It also alleges that Newmark, the real estate company contracted by McKinley's receiver, didn't sufficiently market the property to find additional bidders. Berkshire Mall in Massachusetts repeatedly lost power over unpaid utility bills and was almost seized over missed tax payments. Kohan did not return requests for comment. Kohan Retail Investment Group is excited to announce we have expanded our portfolio to include two stunning hotels in New York City. Feb. 15HARLINGEN Valle Vista Mall, purchased by the Kohan Retail Investment Group in 2018, is back on the market. Great Northern Mall in Onondaga County owed more than $3 million in back taxes as recently as last year. The has since sold to new owners. Ashtabula County not immune to U.S. teacher shortage, Auditors Office kicks off National Weights and, Brainard sentenced to 4 to 6 years in prison fo, EPA opens office near site of Ohio toxic train , CAMPAGNE, Veronica Jan 30, 1927 - Feb 27, 2023, BOWSER, Betty Jun 28, 1933 - Feb 22, 2023, MOORE, SR., Charles Jun 28, 1950 - Feb 24, 2023, Pennsylvania state police drop off disabled homeless man in Ashtabula, Ashtabula County Court of Common Pleas filings, What If? Sign up now to get our FREE breaking news coverage delivered right to your inbox. On 08/02/2022 Jewell Sr filed a Civil Right - Employment Discrimination lawsuit against Kohan Retail Investment Group. 2023 www.timesrecordnews.com. [5] Lake Square Mall was purchased in March 2014 for $13.28 million, but would be sold to Via Properties in September with Kohan remaining manager. Berkshire Mall closed indefinitely following $300K judgment on back taxes; Target, movie theater remain open. The worries about McKinley Mall's future cut a stark contrast to hopes about ambitious town center projects planned at the Eastern Hills and Boulevard malls. -Company understands work-balance and actually respects that. Kohan, who also goes by other names, including Mehran Kohansieh, said the shutdown didnt include the Berkshire Mall Regal Cinemas 10 and Target store. Join the Kohan Retail Investment Group team, Jul 8, 2021 - Director of Human Resources, Poor company with poor leadership and shady practices. [89][90] Tulsa Promenade was placed into receivership in July 2019 due to missed mortgage payments and maintenance issues. [54] NorthTown Mall was purchased for $49 million in February 2022. WebLocation of This Business 1010 Northern Blvd. Cali [32][33] Village Square Mall was sold to Durga Property Holdings in early 2020. Indeed, some Kohan-owned malls have operated without incident. Get Contact Info for All Departments. Derek Gee SUBSCRIBE: $1 for 3 months 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. [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. (renews at {{format_dollars}}{{start_price}}{{format_cents}}/month + tax). And the best part of all, documents in their CrowdSourced Library are FREE! Learn more about recent acquisitions, upgrades, and other information. Customers and employees become unhappy once they realize nothing will improve. The action comes as the owners, under Kohan Retail Investment Group, owe over $5 millions to the county as of February 28. First Amendment: Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances. At Great Northern Mall in Clay, New York, Kohan is nearly $3.1 million in arrears on his county, school and local property taxes, said Donald Weber, director of real property tax services for Onondaga County. Good company to work. -Friendly environment The county will now begin the process of taking ownership. They did not even have workers comp insurance at some of their properties even though they are legally required. [30] Towne West Square was purchased for $14 million in July 2019. Northland Mall in Minnesota, riddled with mold and roof damage, owed more than $140,000 in back taxes before the mall was sold in 2015. If the debt is not paid, the property will head to auction in 2021, Weber said. Nobody bid, so the local parish now owns the mall. [91] Kohan resumed ownership of the mall in September. (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). He owes $753,733 indelinquenttaxes to Summit County, said Mike Migden, chief deputy fiscal officer. 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. Email notifications are only sent once a day, and only if there are new matching items. All rights reserved. WebAbout us. 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. "They are searching for avenues but it is incredibly challenging.". The decline of the Southbridge Mall mirrors that of the Berkshire Mall, which had 100 shops and restaurants when it opened in 1988. News reports of Kohan-owned malls not paying taxes, losing stores and failing to attract shoppers date to at least to 2009. Read employee reviews and ratings on Glassdoor to decide if Kohan Retail Investment Group is right for you. WebThere is 1 job at Kohan Retail Investment Group Explore them all Browse jobs by location Salisbury, MD 1 job See all available jobs Rating overview Rating is calculated based on 4 reviews and is evolving. They primarily purchase endangered/troubled shopping malls. He is always talking about plans for the mall, and how he wants to make things right.. The company is very understanding and helpful when required. In Richmond, Ohio, developer DealPoint Merrill purchased an old Sears and 22 acres of parking lot at the Richmond Town Center Mall last year. Youll see most of the tenants are leaving the mall, he added. 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. Kohan paid the bill two hours before the deadline and was required to pay a $210,000 deposit. And while outlet malls tend to fare better than traditional malls during times of economic downturn, Fashion Outlets of Niagara Falls USA owner Macerich recently sought and received a three-year loan extension to put off payment until 2023. 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. 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. The Kohan group has purchased more than 20 malls nationwide, with a business plan to improve those properties and stabilize them financially. "Hundreds upon hundreds of regional malls no longer have the financial resources to make this type of transformation," Lindsey said. REQUEST FOR PRODUCTION (2ND) BY TO DEFT BY PLTF, REQUEST FOR PRODUCTION SUPPLEMENTAL TO PLTF BY DEFT, CERTIFICATE /CERTIFICATION OF AUTHORITY FOR MEDIATION BY PLTF, RESPONSE TO REQUEST FOR PRODUCTION BY DEFT, AMENDED NOTICE OF TAKING DEPOSITION OF ARNOLD LINK ON 10/13/22 @ 1PM, MOTION FOR ENLARGEMENT/EXTENSION OF TIME TO COMPLY WITH ADMINISTRATIVE ORDER NO 20-24 2ND AMENDED BY PLTF, ORDER SETTING HEARING FOR FAILURE TO COMPLY WITH ADMINISTRATIVE ORDER NO 21-24 2ND AMENDED - JUN 14 2022 @1:30PM - JUDGE STACY 5/9/22, SUMMONS RETURNED SERVED - KOHAN RETIAL INVESTMENT GROUP LLC ON 1/25/22, NOTICE OF UNAVAILABILITY BY COUNSEL FOR PLTF, DESIGNATION OF ELECTRONIC MAIL ADDRESS BY JAMES THOMAS GORDON ESQ OBO PLTF, SUMMONS ISSUED - KOHAN RETAIL INVESTMENT GROUP LLC, PHOTOCOPIED DOCUMENT OF CASE MANAGEMENT PLAN & ORDER, Cases involving other personal injury not classified elsewhere, 360, 1360, 2360, 2367, 3360, 3367, 4360, 4367, 5360, 5367, ARNOLD LINK -VS- KOHAN RETAIL INVESTMENT GROUP LLC, RESPONSE TO REQUEST FOR ADMISSION BY DEFT. A vacant storefront in the McKinley Mall. 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 county filed a tax foreclosure complaint against Kohanon Jan. 13. [31] Towne Square Mall was sold for $5.15 million to Towne Square Mall Holdings LLC in December 2019. [94] Adrian Mall in March 2020 was almost condemned due to electrical, roof, and structural issues. Both have lost anchors and other important stores, have high vacancy rates and have seen a steep drop in traffic. Officials say current tenants at the mall should not be immediately impacted. 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. No longer listed on the Kohan website as of November 2022. Public Records Policy. 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. Concern builds over McKinley Mall buyer's track record as Hamburg attempts to halt sale. [93] The mall also had electric and water payment issues the same month. Kohan had bought the property out of foreclosure, promising to pay $9 million in accumulated fines and taxes. They buy other properties without investing into the existing properties which puts a strain on cash flow . Kohan couldnt be reached for comment Wednesday. If you purchase a product or register for an account through one of the links on our site, we may receive compensation. [29] Berkshire Mall was sold to Durga Property Holdings for $1 million in July 2019. [42] Kohan purchased the Burnsville Center's debt at auction for $18 million in October 2020. 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. Hello, Chapel Hill Business Park. WebFinance Department. 5:20-CV-05378 | 2020-10-28, U.S. District Courts | Labor | [85] In September 2018, Southbridge Mall was sued by Cerro Gordo County for $177,324 in back taxes. [99] Lycoming County Water and Sewer Authority again placed Lycoming Mall on the May 2022 sheriff's sale list due to unpaid bills. The company needs to work on hiring people as sometimes lack of people can cause high work pressure and need to perform better yearly reviews. [95] It was later condemned in June 2020 due to numerous serious issues. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. Ideas include housing, agriculture, research and development or warehousing, as well as retail. Adrian Mall in Michigan was condemned last year but is still operating as repairs drag on. [8] The Orchards Mall, purchased in 2014, was sold to Durga LLC in late 2018. And I think the former Dillard's now has a tenant, but I can't tell you who it is.". 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