By Michael Hooper
Kohan Retail Investment Group, of Great Neck, N.Y., has agreed to purchase West Ridge Mall in Topeka.
Mike Kohan, founder and CEO of Kohan Retail Investment Group, confirmed that his group is buying West Ridge Mall for $6,025,000.
Kohan, reached by telephone, said his group owns Town West Square in Wichita.
"We try our best to revitalize these properties," he said. "Sometimes they are beyond our capabilities but we always try to improve through leasing and development."
He said he will know more information about plans for West Ridge after closing on the property occurs on Jan. 14th 2022.
WIBW's Kimberly Donahue first reported yesterday that Kohan Retail Investment Group is the buyer of West Ridge Mall. Her source was Topeka city councilman Mike Lesser.
On its Web site, Kohan Retail Investment Group, says, "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. The retail landscape has changed, but many shopping malls have not. We believe the future of these large indoor spaces will be more of a hybrid of entertainment, food, and retail than the past model where retail reigned supreme. 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. This is a great time for businesses to consider large spaces that can be transformed into localized shops or venues at affordable prices."
Kohan Retail Investment Group owns hotels and malls around the country. The company's web site lists 52 malls owned by Kohan.
On Dec. 1, Kohan announced it had purchased Temple Mall in Temple, Texas, Triangle Town Center in Raleigh, N.C., and Montgomery Mall in North Wales, PA.
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