Fairlane Town Center sold again
This is not a good look. The new owners are notorious for not keeping up their properties. We shall see how this turns out.
Fairlane Town Center being sold again, this time to 'mall scavenger' Kohan
Quote:
Less than a year after Fairlane Town Center shopping center sold to Centennial Real Estate, the Dallas-based company is selling it to a Long Island-based investor dubbed by some as "the mall scavenger."Great Neck, N.Y.-based Kohan Retail Investment Group — which previously owned Eastland Center in Harper Woods along with 4th Dimension Properties LLC — is expected to close on its purchase of the Dearborn mall by the end of the month from Centennial Real Estate, CEO Mike Kohan told Crain's on Tuesday morning.
Kohan said the plan is to keep Fairlane Town Center operating as a mall, add new tenants and bring more foot traffic.
He also said a key goal is finding a new user or users for the Ford Motor Co. office space in the former Lord & Taylor department store. "It's a beautiful office building that can definitely be utilized," Kohan said.
Time will tell as Kohan Retail has a reputation for letting some of its properties fall into decay.
https://www.crainsdetroit.com/real-e...cavenger-kohan
