The New York company buys Oak View Mall in southwest Omaha
OMAHA, Neb. (WOWT) – The struggling Oak View Mall has got a new owner.
NP Dodge officials told 6 News that the mall was purchased for $ 7.5 million by a New York company, Kohan Retail Investment Group.
“The purchase includes the main commercial center, one of the four department stores and the detached Longhorn Steakhouse on 144th Street,” said Trenton Magid, executive vice president of NP Dodge.
The new owner of Oak View Mall owns dozens of shopping centers across the United States. No word yet on future plans for the southwest Omaha property.
Oak View has fought for years. The mall is almost 30 years old and has changed the way consumers shop.
“Closed malls have lost favor with shoppers and the biggest question is, ‘Where is retail going in the United States and in the world? ‘Said Magid.
The Kohan Group owns dozens of shopping malls across the country. According to their website, which lists Omaha’s Oak View Mall as one of their properties, the group sees the future of the aging mall as a place where more than just shopping can be found.
Closed shopping malls have fallen out of favor. Across the city, Omaha is witnessing the demolition of the old Crossroads Mall, which is being replaced by a half-billion dollar multi-purpose development.
“The location of Oak View Mall at 144th and West Center Road is very solid. It is a mile south of the newly developed Heartwood Preserve with some record prices on pad locations and land for all types of use. And here we have a great location, but we have an outdated type of retail product which is the closed mall. “
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