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City of Kenner hires maintenance team for neglected Esplanade Mall

Kenner Mayor Ben Zahn insists he s not looking to pick a fight, but he is looking at the grass. Lawn patches near the once-bustling Esplanade Mall were standing higher than he liked a few days ago. So he made some calls.City leaders didn t want to wait any longer for the property s operator, Kohan Retail Investment Group, to manicure the property. They hired a private landscaping firm, H&O Grounds, to manicure the property Saturday. Unkempt property is going to draw rodents and things that are worse, and we don t need that, Zahn said. If the mall can t take care of themselves, we have to step in and take care of it for them. The City of Kenner s intervention marks the latest chapter in the Esplanade Mall s bumpy history. When the site first opened in 1985, stores and restaurants filled its two-story plan ― and customers followed. But many factors led the venue to bottom out: the rise of Metairie s Lakeside Shopping Center; fading interest in brick-and-mortar shopping; clo ....

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Mall Short-Sellers See Big Payout With Nevada Mall Auction

A big payout has arrived for investors including Carl Icahn that shorted a retail-heavy commercial real estate debt index. ....

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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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Akron seeks to rezone, redevelop struggling Chapel Hill Mall

Akron seeks to rezone, redevelop struggling Chapel Hill Mall
Updated Feb 08, 2021;
Posted Feb 08, 2021
The city of Akron is seeking to rezone the Chapel Hill Mall to allow for private redevelopment. (Robin Goist, cleveland.com)
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AKRON, Ohio – One year after Summit County began foreclosure proceedings against Chapel Hill Mall, the city of Akron is moving forward with plans to rezone the property with the hope developers can repurpose the mostly vacant structure and expansive parking lot.
City Council on Monday considered a zoning change for the mall at 2000 Brittain Road to go from a “retail business use district,” allowing for retail and residential use, to be a “unified planned development district,” which expands the zoning to also allow for some commercial use. ....

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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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