(Spencer)– The Gateway North Mall in Spencer is about to get a new owner.
The board of trustees of Iowa Lakes Community College has agreed in principle to purchase the building in which the Spencer campus is located. A purchase price hasn’t been disclosed. The building is appraised at 1.284 million dollars. The board Tuesday authorized President Mike Hupfer to sign a purchase agreement.
First Management, Incorporated and Ed Schoening of Omaha have owned the Gateway North Mall since 1959.
The Spencer Jobs Trust assisted the college in the purchase.
Hupfer says they anticipate closing on the deal between June 1st and July 1st.
A news release states the transaction will not affect any of the leases at the mall. Those are held by Center Cleaners, Spencer Area Senior Center/Clay County Council on Aging; Spencer Bowl and the Northwest Iowa Alcoholism and Drug Treatment Unit.
The Spencer campus was started in the 1970’s on the mall’s lower level and eventually moved to the east wing of the building. The college purchased the west side of the mall in 1995 and extensively remodeled it. That facility houses classrooms, computer labs, Small Business Development Center, Retired and Senior Volunteer Program, Lakes and Prairie Center of Buena Vista University and Success Center. The college purchased academic programs from Spencer College in 1996. Another expansion took place in 2001 when additional medical courses were approved for the Spencer campus. It houses the Surgical Tech Program, Alternative High School and faculty offices. Facilities were just recently remodeled for the Massage Therapy Program.
The Spencer Campus also houses the Health Care Administration, Medical Assistant, Chiropractic Assistant and Medical Secretary Programs. The college has applied with the Iowa Department of Education to offer a Pharmacy Technician Program as early as this coming fall.
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