Long-shuttered Shopko building in Rapid City gets new owner

The well-maintained concrete facility will be available for occupancy by August 1.
The well-maintained concrete facility will be available for occupancy by August 1.(KOTA)
Published: May. 22, 2023 at 9:25 AM CDT
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RAPID CITY, S.D. (KOTA) - The sale of the former location of Shopko at 1845 Haines Avenue to Gerard Keating of Keating Resources, one of Rapid City’s largest vacant building spaces, was made public today by Council member John Roberts and President Lance Lehmann of the Rapid City Council.

Lehmann and Roberts indicate the 115,000-square-foot former Shopko building will be converted to a climate-controlled, multi-tenant building with spaces available from 10,000 square feet and larger for use with retail, showroom, advanced manufacturing, assembly, storage, and distribution opportunities as options.

According to Keating, the well-maintained concrete building will be ready for use on August 1. Lehmann and Roberts show the organization is working with Elevate Rapid City to source occupants for the office, quite possibly one of the biggest available facilities in Rapid City.

Keating Resources is a diversified national real estate investment firm that focuses on value-added real estate in South Dakota, Nebraska, Texas, and Florida. The company was established in 2004. The residential community in Lead known as Deer Mountain Village is one of the company’s ventures in South Dakota. Whitewood’s Spearfish Mountain Ranch community; the Milestone Club, a 27,386 square-foot gaming and diversion office set to open in Deadwood not long from now; and the Spearfish and Custer Hills Self Storage facilities.

The former Shopko location can be found in the Custer storage facility, while the Polaris Corporation building can be found in the Spearfish storage facility. Keating credited Roberts and Lehmann’s efforts and direction during the acquisition process of the Rapid City facility. Keating estimates that the Rapid City facility will significantly boost the economy and create at least 25 new jobs.

For more information, contact Gerard Keating at 402-925-5113 or Alec Keating at 630-648-9967.