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Mall’s new owner lands tenant for former JCPenney space

| July 20, 2023

NEW PHILADELPHIA (WJER) (July 19, 2023) – New Towne Mall’s new owner has filled one of its largest vacancies as an Ashley furniture and mattress store is set to open later this year in the former JCPenney location.

Mall General Manager Tori Noah says that 51,000-square-foot space has been empty for just over five years, except when the seasonal Spirit Halloween store would move in for a few months each year.

“We are just really excited to add this new concept to the center’s lineup especially when we are talking national tenant. This is something big that is happening. It hasn’t happened in a few years here at New Towne, so it’s going to be a great addition.”

Noah says this is a big move for the mall’s new owner – Kohan Retail Investment Group.

“They are eager and excited to take over the property. We have quite a few different tenants in mind and some national tenants that we’re trying to get some deals through, so it’s a very exciting time for us.”

County real estate records indicate an LLC headquartered at Kohan’s address at Great Neck, New York, purchased New Towne Mall for $10 million on March 30.

Noah says the mall is 82 percent full. The new tenant will combine an Ashley Store with an Ashley Outlet.

“[Ashley] is definitely going to be one of our anchor stores. That just leaves one of the anchors vacant right now, which is the old Elder Beerman, so we are on the search to make sure we move forward and get that anchor space filled as well.”

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