Town Center mall in Kennesaw is under new ownership after being foreclosed on, according to court records.
The mall was sold in a public auction last week to an LLC tied to Atlanta-based Ardent Cos. for $51.75 million, records show. Its previous owner, New York-based Kohan Retail Investment Group, was forced to sell the property to pay back debt owed on a $46.7 million loan it took out against the mall.
The ownership change is just one of many struggles the mall has faced in recent years as it and other malls across the country see declining revenues and foot traffic…