In February 2024, the Kohan Retail Investment Group and Rocky Companies acquired the Lima Mall.

Originally 166,000 square feet in size, the mall was one of the first smaller, regional centers built by Edward J. DeBartolo, Sr. Lazarus was added as an anchor in 1971.

[2] Another anchor, a local department store called The Leader, was sold to Elder-Beerman in the mid-1970s.

[5] On October 21, 2015, parent company The Bon-Ton announced that it would close the Elder-Beerman in the mall in January 2016.

The building will be torn down and replaced with a brand new Target store, with an expected opening date of Summer 2026.