The sale of the Indiana Mall closed last week, with the owner now a retail investment group out of New York state.
Indiana Mall Manager Sherry Renosky confirmed that the Kohan Retail Investmennt Group out of Great Neck, New York has taken over as the new owners of the Indiana Mall facility. The mall was sold in an online auction through the Ten-X website. The mall was built in 1979 by Johnstown-based developer Geroge Zamias.
The mall was sold to Kohan at a total purchase price of $6,901,875. Renosky said that mall tenants were notified of the sale and that she would remain as the mall’s manager.
Kohan has fifty-five other properties across the United States, including five properties in Pennsylvania. Owner Mike Kohan said he purchased the mall as an opportunity to expand the company’s footprint in the state, but he also recognized the importance the mall has to the community.
Audio PlayerKohan added that he was in talks to acquire more stores for the mall, including two anchor stores. The names of those stores have not been released as the agreements have not been reached yet.
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