Investor Gerard Keating of Florida publicly announced Thursday, he paid $5.75-million for the iconic Gateway Computer campus in North Sioux City, South Dakota.
"Gateway was a great company," said Gerard Keating, Owner of Keating Resources. "We need to reposition the property to bring local and national companies back here to help them grow. The sooner we do that, the healthier it will be for the property, and the community."
"There was much success perfected in this building, anytime you have that good 'mojo' it's fun to build from that."
Keating says he's already sold parts of the property.
"Right now, we've got a great start with the companies that are here," adds Keating. "FIMCO, and our neighbors, Royal Canin."
Gateway Computer Company was founded in 1985 in Sioux City- before moving to North Sioux.
The 750,000 square foot building in South Dakota, was built by Gateway on the 77 acre site in 6 phases- from 1989 to 1997.
"The history of Gateway is very unique," said Keating. "How they took a technology, and became one of the largest computer sellers in the world."
An Atkinson, Nebraska native, Keating said it was a no-brainer to buy in Siouxland.
"The government has created a positive business environment, and there's a lot of great people. For me, it was, when I studied the facts, this is just a great place to invest, To find this property sitting here, was really a gift."
Upon closing, Keating already sold the far south 225,000 square foot building.
Keating said he hopes to keep the iconic Holstein cow pattern on at least some of the buildings.
He adds that within the next 30 days, activity will begin inside the building.