McCoy Group has entered into a purchase agreement with leading global education company McGraw Hill for the office building at 501 Bell Street in Dubuque, Iowa.
The purchase is expected to close by June 2023. Pursuant to a lease that is part of the transaction, McGraw Hill will continue to occupy a significant space within the building while McCoy Group contemplates their expansion into the Port of Dubuque.
“This is an exciting time for the McCoy Group. The 501 Bell Street building will provide a great long-term strategic value to our group. We will be evaluating whether this building becomes our corporate headquarters sometime in the future or potentially just a good long-term investment for us. The facility gives us the opportunity to continue to add jobs and grow long term in Dubuque which is our desire and goal,” says Greg McCoy, president and CEO of the McCoy Group.
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Due diligence will be completed over the next 45 to 90 days and is conditional on state and local incentives, the company says.
The McCoy Group will also continue to investigate opportunities at their current Southpark Ct. location.
“We are confident that we can work with both the City and the State to create a win-win for all parties in Dubuque,” says McCoy. Both McCoy and McGraw Hill will work together to provide a seamless transition for all parties, including the other businesses currently leasing space at the location.