After being on the market for more than a year, the Lycoming Mall has been sold.

Mike Kohan, of Kohan Retail Investment Group, confirmed Tuesday his purchase of the mall near Pennsdale for $26.35 million.

The deal was finalized March 22.

Pennsylvania Real Estate Investment Trust, or PREIT, announced early last year that the mall was among five commercial properties it was hoping to sell.

Between 2012 and 2015, PREIT sold interest in 16 properties for more than $420 million, including the Nittany Mall near State College.

Kohan said he is hoping to take an aggressive approach toward revitalizing the mall.

“We are going to add some tenants and different programs to increase traffic,” he said. “We are going to fill out the empty spaces. We are going to be more aggressive than the previous owner.”

Kohan conceded many malls face challenges nowadays with fewer customers, thanks in part to more online shopping options.

But he said malls remain viable shopping venues and as places for people to go.

The Lycoming Mall, he said, is in a good location with national retail stores such as Toy ‘R Us nearby and a movie complex.

“I don’t think the location is challenging,” he said. “I think the location is great.”

Located at 300 Lycoming Mall Circle, the mall has more than 80 specialty stores and several department stores including Macy’s, Sears and JCPenney.

Kohan said the mall will be owned by Lycoming Mall Realty Holding, which is part of the Kohan Retail Investment Group.

PREIT officials confirmed the mall sale but were not available for further comment.

Headquartered in Philadelphia, PREIT reportedly operates 23 million square feet of space in properties in 11 states of the eastern U.S. with a concentration in the Mid-Atlantic region and greater Philadelphia.