Belknap Mall's new owner is... just who, exactly?

BELMONT — Town officials say they haven’t yet spoken with the new owners of the Belknap Mall, the town’s largest taxpayer and a potential economic generator for the region. In fact, the documents filed to record the sale of the property lead to some confusion about who now owns the beleaguered retail facility.

On April 9, the Belknap County Courthouse recorded that OCW Retail, which does business as The Wilder Companies, sold the mall for $4.25 million, less than a quarter of its assessed value. The buyers were listed as Belknap Realty LLC, listed on the deed as the 95% owner, and Belknap Nassim LLC, the minority owner. Both limited liability companies were created on March 26 of this year, and both of have a mailing address in Great Neck, New York, a small town on Long Island.

But neither of those addresses match the address on the deed. That address, also in Great Neck, New York, is associated with a third company, also created last month. That third company, Belknap Mall Realty Holding, has a listing with the Secretary of State’s office that lists Mehran Kohansieh as the manager of the company. Kohansieh goes by various names, one of which is “Mike Kohan.” The address listed on the website of Kohan Investment Group matches that recorded on the deed for the Belknap Mall.

However, when Kohansieh was contacted on Monday, he would only say, “I did not buy that mall,” before saying good-bye and ending the phone call.

Meanwhile, a public relations representative for Mason Asset Management said that company is the new owner of the property, and that Nadmar Realty Group will manage the mall. Those parties, which also own and manage the Steeplegate Mall in Concord, were not immediately available for an interview.

At Town Hall, administrator Jeanne Beaudin said she will be sending the tax bill to the address on the deed – which would put it in the mailbox for the Kohan Investment Group. The mall is the town’s largest single taxpayer, and the next six-month bill, which will be sent out in about a month, will be for $228,258. The property is currently assessed for $18.25 million.

Town Planner Dari Sassan said he hasn’t heard from the new owners – Beaudin hadn’t, either – but said he was looking forward to hearing what they had in mind for the mall.

The last several years have been hard on smaller, regional shopping malls, and the Belknap Mall was no different.

“We certainly look forward to having a dialogue with the new owner,” Sassan said. He noted that there are national chains which don’t currently have a presence in the Lakes Region, that might find that spot attractive. And there’s also the possibility that other uses, such as residential, could be mixed into a redevelopment plan.

“I think there is a lot of opportunity there,” Sassan said. “We’re always looking for opportunities to lend a hand as far as community development goes. Any new owner presents potential new opportunities.”

Wilder bids adieu

Wilder’s principal owner, Andy LaGrega, had suggested in previous articles that such a mixed-use redevelopment could be considered for the Belknap Mall. The company had made such changes in other properties it owns. But, after 13 years of ownership, Wilder decided to sell earlier this month, and explained in a statement that the property could be best served by a new management team that could better focus its energies.

“We certainly enjoyed being a part of the Belmont community all these years and look forward to seeing the continued redevelopment/ improvements that the Belknap Mall deserves,” said LaGrega.

Paige Quigley, former mall manager and Wilder’s current vice president of asset management, said, “I enjoyed all my years being headquartered at the mall where I made many friends both within the center and throughout the Lakes Region. I am sad about the leaving the area but feel that this change is a good thing for everybody.”