NEW YORK NY (WKZO AM/FM) – For the second time in three and one half years, the Crossroads Mall in Portage is under new management.
The Kohan Retail Investment Group has purchased the mall for about 25 million dollars.
The firm, based in New York, owns six other mall properties in Michigan, and over 50 in the US. Rohan is noted for purchasing malls and stores that are having issues, with the intent of turning them around.
The purchase price was about 10 million dollars less than the previous owner paid for the mall.
Crossroads is still dealing with reduced traffic due to the pandemic, and the loss of Sears and Burlington from the location.
