Butler County's Clearview Mall came under new management Thursday as an affiliate of Kohan Retail Investment Group assumed ownership of the 762,768-square-foot complex from J.J. Gumberg Co.
“We're glad to be part of the community and will try to do whatever we can to help the community and the mall,” said Mike Kohan, a principal partner with the Great Neck, New York-based company.
The Center Township complex brings the holding company's total of Pennsylvania malls to three — joining Lycoming Mall in Pennsdale and Washington Crown Center in Washington. Nationwide, the investment group owns more than 40 malls in 16 states.
According to the company's website, Kohan Retail Investment Group sees a future in aging malls “as a place for more than just shopping. They are social settings where people interact with one another and small businesses can get a boost in a public and well-trafficked platform.”
Kohan said the transfer of the property was finalized Thursday as Kohan Retail Investment Group assumed a $25 million note owed on the property.
He said the company is exploring several avenues to revitalize the mall on Route 8 just north of Butler, including as a possible site for a future call center or entertainment space.
“We have to think about the next step,” Kohan said. “We can't wait for these spaces to be empty.”
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