Two California businessmen paid $2.5 million for the Woodville Mall in Northwood, which they bought last month, Wood County auditor s office records show.
Prior to the sale, Toledo area commercial real estate agents said that the new owners, Jack Kashani and Sammy Kahen, planned to offer $5 a square foot for the 795,000-square-foot mall, which would have put the sale at at about $2.5 million. Mr. Kashani and Mr. Kahen had declined to reveal their purchase price.
The men bought the mall officially on Sept. 17, using the name Nationwide Toledo Real Estate Investment LLC. It was sold by Simon Property Group of Indianapolis, which had owned the 35-year-old mall since 1996, when it acquired it through a merger with the now-defunct DeBartolo Corp. of Cleveland.
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