HUTCHINSON, Kan. — The Hutchinson Mall has been sold and a real estate investment company based in Houston, Texas is buying the property as well as three other shopping malls in three other states.
In addition to the Hutchinson Mall, RockStep Capital is buying the Imperial Mall in Hastings, Neb., Lakewood Mall in Aberdeen, S. D., and Thunderbird Mall in Virginia, Minn.
They say in the news release that they are a full-service investment firm that uses investor capital to acquire shopping centers in small towns throughout the U.S. They say they believe in small town values, in building long-lasting partner relationships and improving the communities in which they invest.
They have developed or acquired over four million square feet of shopping centers throughout the country.
We’ll have more on this later.