Towne Square Mall Has Been Sold to New Owners
Towne Square Mall is under brand new ownership. The sale of the property took place a couple of weeks ago and the new parent company now has Towne Square proudly featured in its website property portfolio.
The new owner of Towne Square Mall is Kohan Retail Investment Group. Kohan is owner of 22 mall properties in the U.S. Those properties are located in cities like Indianapolis, Tulsa, Savannah, Akron, and Vero Beach. Owensboro is now on that list!
According to the company's website, Kohan Retail focuses on acquiring "aging malls" and sees the future of them as places of "mixed use that is more than just for shopping." In fact, Kohan's mission of rediscovering retail space proves promising for Towne Square Mall, which, as you know, has been struggling for years to maintain retailers and customer foot traffic.
But Kohan's approach to "mall" culture is seemingly different. The company says . . .
Malls are evolving, and as time goes on they are no longer just a tent to house box stores and chains, but are home to more local small- and medium-sized businesses of all stripes. Large spaces offer opportunity for fundraising events, festivals, farmers markets, miniature golf, dancing, concerts, banquets, theatre, and virtually any social gathering all under one roof with protection from the elements.
Okay! I'm intrigued. Let's do this, Kohan Retail! As someone who grew up in Owensboro and remembers the mall's glory years, I'm excited to see a new injection of life. We're ready for some new stores, new restaurants and new events. Take it from a local. If you build it, they will come. It's built. We just need some exciting new reasons to visit.
If you'd like to see the Towne Square page on the company's website and peruse the company's other retail properties, CLICK HERE!