Gateway Computer campus in South Dakota sold for $5.75M
SIOUX FALLS, S.D. (AP) — A real estate investment firm has bought the old Gateway Computer campus in southern South Dakota for $5.75 million.
Keating Resources purchased the 77-acre North Sioux City site last week at a fraction of the estimated $70 million that Gateway spent before being acquired by Taiwan-based Acer Inc.
“I’m very excited to invest in the Sioux City metro market,” said owner Gerald Keating. “It’s one of the strongest in the United States and for me, it’s especially rewarding to come back to an area where I grew up.”
Keating told the Argus Leader that they sold the southern part of the building to a local investor and have a pending long-term lease for a small remaining space. Keating said they’re marketing the vacant space to logistics companies interested in a Midwest location.
Keating plans to brand the facility as the Gateway Business Center. He said they’re preparing redesign options, including repainting the warehouse with the black-and-white cow pattern this year.
Keating said the investment is an opportunity to be closer to his hometown in Atkinson, Nebraska.
“It’s one more reason to come back to an area that I love and to work with people that I love,” he said.
Information from: Argus Leader, http://www.argusleader.com