Kohan Retail Investment Group paid the $319,539.06 bill just 25 minutes before the deadline on Wednesday afternoon.
the mall on Jonestown Road in Lower Paxton Township has terminated its sales agreement. The agreement was still in the due diligence phase and hadn’t been completed.
Ray Jackson, the principal of Stonewall Capital in Timonium, Maryland, confirmed to PennLive on Thursday morning that a deal with the Kohan Retail Investment Group, which owns the mall, was off but that doesn’t mean it might not happen eventually. He said he is still in communication with the mall’s owner and hopes to resolve some open issues to get the deal settled and start the redevelopment process.
Jackson previously said that a redevelopment of the mall could include retail, restaurants, apartments, for-sale condo units, a medical office building and a hotel.The deal only included the main mall building and not the Boscov’s building, the former Sears building and the five other buildings on the site, all of which are not owned by Kohan Retail. Boscov’s has previously confirmed that it will stay at the mall no matter what happens.
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