Kohan Retail Investment Group has once again captured national attention as it continues its aggressive expansion into commercial real estate while facing persistent scrutiny over its business practices. The company, founded by Mike Kohan, is widely known for acquiring distressed shopping malls, but in recent years it has been diversifying into larger office and mixed-use properties. As of Fall 2025, the group stands at a pivotal moment, balancing bold acquisitions with ongoing controversy.
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Expanding Footprint in 2025
In 2025, Kohan Retail Investment Group (KRIG) announced several high-profile acquisitions. Among them was the purchase of a 65-story office tower in Chicago’s Loop, one of the most recognizable buildings in the city’s skyline. This move was significant because it marked KRIG’s strongest step yet outside of traditional mall ownership and into high-stakes office real estate.
At the same time, the group also finalized the purchase of multiple properties in Manhattan, including a cluster of buildings along Seventh Avenue and West 29th Street. This deal placed KRIG in one of the most competitive real estate markets in the world and fueled speculation about redevelopment possibilities, ranging from luxury housing to hotels.
These transactions show that Kohan Retail Investment Group is no longer content with only acquiring regional malls. The firm is pursuing iconic urban properties, signaling its intention to establish itself as a more diversified real estate player.
The Firm’s Business Strategy
Kohan Retail Investment Group’s approach to property ownership follows a consistent pattern. The company often acquires distressed or undervalued properties at discounted prices. After acquisition, the firm typically seeks to reposition or redevelop them, either by drawing in new tenants or restructuring their operations.
Key features of the strategy include:
- Buying low-value properties: Malls or office towers with high vacancy rates often sell at steep discounts.
- Minimal upfront redevelopment: In many cases, the group focuses on stabilizing operations before committing to long-term renovations.
- Revenue through creative leasing: Vacant spaces are often repurposed for nontraditional uses, such as event spaces, pop-up shops, or local businesses.
- Holding high-profile assets: By targeting notable properties, the group ensures it remains relevant in national real estate conversations.
This opportunistic method has brought both attention and criticism, especially when operations at acquired malls or centers face challenges.
Controversies and Challenges
Despite its high-profile acquisitions, Kohan Retail Investment Group is also known for controversies that stem largely from unpaid taxes, utility shutoffs, and tenant disputes. Several malls owned by the group have, in past years, experienced electricity disconnections, maintenance issues, or strained relationships with local governments.
Critics argue that the company sometimes prioritizes expansion over addressing outstanding financial obligations. For example, local officials in multiple cities have voiced concerns when tax bills remained unpaid or when utilities were at risk of being cut off. These issues have created tension between the group and the communities where its properties operate.
Additionally, the company has faced lawsuits and regulatory inquiries connected to labor practices, property conditions, and financial disputes. While some of these cases have been resolved, they contribute to the perception of a firm that is both ambitious and unpredictable.
Balancing Reputation and Growth
The dual image of Kohan Retail Investment Group is one of its defining features. On one hand, the company has been praised for saving dying malls from permanent closure, keeping retail spaces alive in towns where economic decline has threatened community hubs. On the other hand, critics point to a trail of unpaid bills, unfulfilled promises, and deteriorating facilities.
This tension makes KRIG one of the most closely watched private real estate companies in the United States. Every new acquisition is met with a mix of optimism—hoping for revitalization—and skepticism, fueled by past performance.
The Shift Toward Iconic Properties
What makes 2025 especially notable is the group’s shift toward major urban investments. The purchase of the Chicago office tower and the Manhattan properties signals an evolution. Instead of focusing solely on suburban malls, KRIG is targeting prestigious locations with broader redevelopment potential.
Analysts believe this strategy could either elevate the company’s reputation or magnify its challenges:
- If successful, these projects could transform the firm into a respected player in commercial real estate, opening doors to more institutional partnerships.
- If mismanaged, the same high-profile properties could draw even sharper criticism and potential legal battles.
The stakes are higher than ever.
Financial and Community Impact
The impact of Kohan Retail Investment Group’s acquisitions extends beyond the company itself. Communities often look to new owners for stability, redevelopment, and tax contributions. When properties are well-maintained, they can revitalize entire neighborhoods by attracting jobs, tenants, and customers.
Conversely, when issues arise—such as missed tax payments or utility problems—the burden can fall on local governments and residents. For this reason, city officials frequently monitor KRIG’s properties closely, seeking reassurance that commitments will be met.
What’s Next for Kohan Retail Investment Group?
As 2025 moves forward, several key questions remain:
- Redevelopment Plans: Will the newly acquired properties in New York and Chicago be redeveloped into mixed-use destinations, or will they remain primarily office and retail?
- Operational Improvements: Can the group resolve its history of maintenance and tax controversies to build greater trust with communities?
- National Expansion: Will KRIG continue to buy struggling malls across the country, or is it fully pivoting toward high-profile urban projects?
How the company answers these questions will determine its long-term trajectory.
Conclusion
Kohan Retail Investment Group is at a crossroads. Its 2025 acquisitions show ambition and a willingness to step into some of the nation’s most valuable real estate markets. At the same time, its history of controversies continues to follow it into every new deal.
The future of KRIG will depend not only on its ability to acquire bold properties but also on its willingness to address the operational and reputational issues that have shadowed it for years. For now, the group remains one of the most talked-about real estate investment firms in America, a mix of promise and risk that keeps communities, tenants, and industry analysts watching closely.
What do you think—are these bold acquisitions a turning point for Kohan Retail Investment Group, or just another chapter in a turbulent history? Share your thoughts below.
Frequently Asked Questions (FAQ)
1. What is Kohan Retail Investment Group best known for?
The company is best known for acquiring distressed shopping malls at discounted prices and attempting to reposition them for new uses.
2. Why does the group receive criticism?
It has faced criticism for unpaid taxes, utility shutoffs, lawsuits, and maintenance issues at several of its properties.
3. What new properties did the group acquire in 2025?
In 2025, the group acquired a major office tower in Chicago and several buildings in Midtown Manhattan, signaling an expansion into more prestigious urban markets.