SANFORD, Fla. – In an exclusive interview, the new owner of Seminole Towne Center said he is going to move quickly to revitalize the struggling mall.
Felix Reznick said 4th Dimension Properties has big ideas for Sanford property after Kohan Retail Investment Group, which had a controlling interest in Seminole Towne Center, sold the majority stake for an undisclosed amount.
An email News 6 received from Kohan Retail Investment Group said, “This is to confirm that Felix and (his partner) have bought out Mike (Kohan’s) interest in Seminole Towne Square.”
The sale comes after the Seminole Towne Center went dark, literally, in February after the owner did not pay its Florida Power & Light Company bill.
Reznick said he is trying to lure a grocery store and a gym to the mall but has not ruled out a movie theatre and restaurants.
There is even the possibility of housing built at the mall or close by.
“I want the highest and best use, so either there or the 13 acres across the street from it, we own that, too,” he said.
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Reznick said he also wants to find a solution to the vacant Macy’s department store.
“I don’t think you are going to get a department store in the Macy’s, but you could get electronics, you could get a supermarket and you could get multi-family use,” he said.
Reznick said 4th Dimension Properties has an ownership stake in other malls across the country.
“4th Dimension Properties sees the future of malls as places for more than just shopping,” the company website said. “Shopping malls are social spaces where members of a community interact with each other, and where local businesses can prosper alongside national brands, in public high-traffic settings. Our goal is to transform shopping centers into community hubs where entertainment, shopping, and food all come together.”
Small local businesses will also be welcome to office space or kiosks, Reznick said.
Reznick said the key to the mall’s success will be a strong relationship with the city of Sanford.
News 6 reached out to Sanford city officials but has not heard back.