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Inside Mall Scavenger Kohan's Shopping Spree for Struggling Malls

Inside Mall Scavenger Kohan's Shopping Spree for Struggling Malls
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Burnsville Center seeking green light on renovation plan

Burnsville Center seeking green light on renovation plan
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Burnsville Center seeking approval to aid in redeveloping struggling mall

Burnsville Center seeking approval to aid in redeveloping struggling mall
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What's Next for Burnsville Center? | Twin Cities Business

Despite a foreclosure and new ownership, the city remains hopeful about a new and improved downtown.
It’s common knowledge that 2020 was a trying year for retail businesses (to say the least). Burnsville Center was no stranger to those struggles. Numerous vacancies have popped up in the mall for about five years, most notably the closure of Sears in 2017.
Then 2020 came. In August, the mall went into foreclosure; then-owner CBL Properties, a real estate investment trust, cited vacancies and rent reductions as the primary cause of the default. By year’s end, New York-based Kohan Retail Investment Group had purchased the mall. ....

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New Burnsville Center owner with checkered past optimistic about mall's future

New Burnsville Center owner with checkered past optimistic about mall s future
Mike Kohan sees new chances for the mall, which was regaining traffic before COVID.
January 9, 2021 8:19am
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Mike Kohan has made a career of buying distressed shopping centers, including the recent purchase of the bulk of the struggling Burnsville Center.
Kohan, who leads New York-based Kohan Retail Investment Group, plans to again increase the number of tenants, partly by catering to smaller, local businesses.
Similar to plans at other Twin Cities malls, he also wants to recruit more entertainment options to Burnsville and possibly apartments to some of the land surrounding the mall. ....

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