REBusinessOnline

Keating Resources Purchases Industrial Facility in North Sioux City, South Dakota for $5.7M

NORTH SIOUX CITY, S.D. — Keating Resources has purchased the Gateway Computer campus in North Sioux City for $5.7 million. The 750,000-square-foot industrial facility is the largest building in the state of South Dakota, according to Keating. The building was constructed for Gateway in six phases from 1989 to 1997 for an estimated cost of over $70 million. The building, which is 61 percent occupied, will be repainted in the summer of 2018 with a cow pattern paying homage to Gateway’s brand. The building will be rebranded Gateway Business Center, and located within the Gateway Business Park, which was developed by Berkshire Hathaway and is owned by MidAmerican Energy. Chris Bogenrief of NAI United, Jere Hench of Colliers International and Robert Litz of Farmers National Co. were the brokers for the transaction.

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