A New York company, Kohan Retail Investment Group, has confirmed it has purchased the Aroostook Center Mall in Presque Isle for $4.56 million.
The immediate plan for the mall is to attract new tenants, according to the owner. They want to start off by giving local businesses the opportunity to rent space to help out current mall tenants.
Retail isn’t the only option for Aroostook Center. In other malls owned by Kohan, he’s added hotels, apartments and other non-retail related businesses. Kohan plans to do a market study to see what will and won’t work here.
The current occupancy rate of the mall is just 55%
With the change in ownership comes a change of mall management.
Patti Kohan has taken over from Patti Crooks as the new mall manager. All interested tenants should contact her.