NORTH SIOUX CITY — Sioux City developer Bart Connelly has acquired the Argentina building, a 225,000-square-foot building on the former Gateway campus in North Sioux City.
Connelly was identified Thursday by Gerard Keating, who announced Wednesday that he had purchased the 750,000-square-foot campus from Taiwan-based Acer Inc. for $5.75 million. After the sale closed Wednesday, Keating then sold the Argentina to Connelly, president of Connelly Development Inc.
Connelly's plans for new building are still under wraps, but Keating hinted the new use would be something positive for the region.
“Bart and his investors are going to reposition that — and that’s a story on its own — but it’s exciting and it’s going to be great,” Keating said.
Alorica, a Chino, California-based contract services company, had leased about 100,000 square feet on the first floor of the Argentina before shutting down its North Sioux City operations in May, eliminating 260 jobs.
Over the years, Connelly has led a plethora of development projects, from restoring historic buildings on Sioux City's Historic Fourth Street to, more recently, constructing commercial buildings in Dakota Dunes and Sioux City's Sunnybrook retail development
Keating is CEO of Keating Resources, which has offices in Naples, Florida, and Atkinson, Nebraska,
Keating also confirmed he has reached an agreement with a tenant to lease 101,000-square-feet of office space on the second floor of the campus. Keating declined to identify the company but said it is a local tech company and that it will use the space to host servers.
With the addition of the new tenant, the former Gateway complex, which has been renamed the Gateway Business Center, will have an occupancy rate of 61 percent, Keating said. The iconic black-and-white metal buildings will be repainted this summer in the same pattern resembling spots on a Holstein cow.