Though there are no plans to make any immediate occupancy changes to the Unisys building located next to Bismarck State College, the school’s foundation is in the process of buying the building from Bismarck Industries, BSC Foundation Executive Director Gordy Binek said.
Two tenants — Unisys and Fredrikson and Byron law firm — currently fill the building. Binek said the foundation plans to honor their leases, which have the option to extend for 16 and 20 years, respectively.
“We have no intent on displacing those folks,” he said. “We need their rent to pay the mortgage.”
If space one day becomes available, he said the foundation would offer it to the college.
Binek said the foundation must pay taxes on the property as long as the current tenants remain. If the college were to use the building, it would be exempt from paying property taxes, he said.
He declined to say how much the building cost, citing a provision in the purchase agreement that prevents disclosure. The deal should be finalized by the end of the month, he said.
Reach Amy R. Sisk at 701-250-8267 or email@example.com.
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