The Savannah Mall at 14045 Abercorn St. has been sold for an undisclosed amount, according to a statement released on Tuesday.
The 940,408-square-foot mall was sold on Aug. 26 by SSF Savannah Properties LLC to Savannah Mall Realty Holding LLC, which is an extension of Kohan Retail Investment Group.
The Kohan group is based in Great Neck, N.Y., and currently operates more than a dozen shopping malls around the country.
The transaction was marketed and brokered by SRS Real Estate Partners.
“This was an excellent opportunity to own an irreplaceable piece of real estate in Savannah along the Abercorn retail corridor,” Kyle Stonis, senior vice president for SRS Southeast Investment Sales Team said in the release.
“The buyer has the ability and experience to come in and take advantage of an excellent opportunity to add long-term value to Savannah Mall by continuing to build upon the momentum established by the previous owners.”
A call seeking comment from Mike Kohan of the Kohan group was not returned on Wednesday, but Pierce Mayson, vice-president of SRS Atlanta office said there are no immediate plans to change or renovate the southside mall. Daily operations and management are continuing as usual.
“The new owner is a mall operator and will likely continue to lease-up vacancies and operate the mall normally for the foreseeable future,” he said.