The landmark building in Siouxland has a new owner.
The 750,000 square foot Gateway building in North Sioux City was sold to Gerard Keating for $5.75 million.
KCAU 9 had previously reported that it was in the process of being sold.
Gerard Keating is an Atkinson, Nebraska and Naples, Florida based investor, and owner of Keating Resources, which invests in industrial buildings throughout the U.S.
Keating said his decision to purchase the property “was made easier based on the outstanding work ethic of residents of the Sioux City metro along with the entrepreneurial pro-growth tax policies of South Dakota.”
Keating considered investing in the Sioux City metro after studying three years of commercial flights into the Sioux City airport.
After closing the sale, Keating sold 225,000 square feet to a local investor and that 101,000 square feet is pending for a long-term lease.
Keating said that he plans to repaint the building in the iconic Holstein cow pattern this summer.