Cheema Investments LLC, a Scottsbluff based investment company, has purchased the 29-acre Imperial Mall in Hastings.

The 1.1 million square foot mall space, including two outbuildings with an additional 90,000 square feet of retail space, sold for $340,000 in November.

Kuldip Singh with Cheema Investments said the company owns residential properties around the state, including Hastings. It was their familiarity with the area that led to interest in the property.

“We were looking for additional investments and this was close to I-80 so it was a good location,” he said. “We hired a property management company out of Lincoln that will operate the mall from now on.”

Singh said that as a developer he sees a lot of potential uses for the property. However, nothing has been set in stone yet. The property managers will be charged with recruiting potential businesses and other mall operations.

We're always interested in hearing about news in our community. Let us know what's going on!

Jerry Purvis is a reporter with the Star-Herald. He can be reached at 308-632-9046 or emailed at jpurvis@starherald.com.

Recommended for you

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.