EXCLUSIVE: Southern Park Mall owner discusses plans for future of mall
BOARDMAN, Ohio - For the first time, The owner of Kohan Retail Investment Group is speaking about his hopes for the Southern Park Mall.
This goes days after paying a large portion of property taxes for the first half of the year, and paying the second half one month early.
Kohan said he hopes this can provide a sense of reassurance for those concerned.
“I know the mall means a lot for the community. That's why we have to do it in order for us, and for the community to have faith in us,” said Kohan.
Kohan added that developments at the mall make it one of the most unique properties that he owns.
“It’s probably one of the unique malls in our portfolio, especially having the soccer field, which I believe spent millions of dollars to build that, which attract a lot of people from different counties,” said Kohan. “Believe it or not, every time there is a game or a gathering, the businesses that we have, especially the food chains and restaurants, are making a great amount of business. And also, the mall obviously gets busy because they do not just come for the game, they come to shop and dine and to get together.”
His next steps are to fill the vacant spots left at the mall by speaking to local merchants, and tenants at other malls.
“We have connection and relationships within other malls, but they're not in this mall, but we are trying to pitch to come into this mall. But these are two different scenarios and two different directions that they are walking towards getting some of these vacant spaces filled up,” said Kohan.
Kohan is also planning to have events that would bring more people to the mall. While he was not specific on what the events would be, Kohan says plans are already underway.
“The more we do events, the more traffic we get to the mall, and our patrons are going to get the benefit of it,” said Kohan.
21 News previously reported about the former vacant Dillard’s Building, which is owned by the Cafaro Company. Kohan said he has spoken with the group in the past.
Because of the investments the group has put into the property, he believes the group will move something into the building. If they do, Kohan said his group will be there for support.
“But a box to sit vacant for someone who paid quite a bit… I don't think it's going to be productive because that's a liability,” said Kohan.
Kohan acknowledged that the group has a past of running behind on property taxes, but says that's not the model of his business.
“I bought very distressed malls. Malls that are at some point beyond fix. We went into this with a very limited backup at that time. You know, obviously some things are going to fall through the cracks,” said Kohan.
Despite the group's checkered past, Kohan said he is ready to make investments into the Southern Park Mall.
“We have a lot of money invested in these properties. So this is the biggest assurance that I could give. I mean if I didn’t have any stake in the game, then maybe it would have been something that I’m just talking on the air. But we have millions of dollars, tens of millions of dollars invested,” said Kohan.
You can watch the full interview with Kohan HERE.