Gold's Building in downtown Lincoln sold, to be turned into hotel
The Gold’s Building, located at 1033 O Street, has been sold, and will be turned into a 110 room extended stay hotel.
The sale took place on Friday to Nebraska and Florida-based Keating Resources by Los Angeles-based Colony Capital for $2.3 million. The Gold’s Building is the largest privately-owned office building in Lincoln.
Keating Resources CEO Gerard Keating announced the interior of the 96-year-old six-story tower totaling 115,000 square feet which fronts O Street will be gutted to the original concrete shell and the interior will be rebuilt for a new 110 room extended stay hotel. The remaining 207,000 square feet (totaling four-stories and connected to the six-story structure) will be upgraded to serve existing office tenants including the State of Nebraska and others. The four-story structure fronts N Street between 10th and 11th Streets. Keating said the firm is considering all options for a hotel brand with a decision by March 1.
Keating Resources has hired Lincoln-based NAI FMA Realty to manage the building, who currently manages over one million square feet of office space in downtown. With the help of NAI FMA’s property management team, Keating Resources is eager to resolve tenant concerns and begin new capital improvements. The seller (Colony Capital) had recently invested over $1,000,000 to install a new air condition and fire monitoring system. All systems now meet city, county, and state code.