The Hooker-Fulton, Gleason and other related buildings were
officially sold to TUT Holdings, LLC on Friday.
Mike DePalma of Penn Laurel Realty said the deal for the
buildings was completed, and the buildings have gone on record as
being sold.
According to the Recorder of Deeds office at the McKean County
Courthouse in Smethport, two deeds changed hands to TUT Holdings,
LLC, on Friday. One was sold for ,205,000 by the Estate of Stanley
Gleason and Robert Gleason for the office building, theater and all
other buildings owned by the Hooker-Fulton Co. The other was sold
for ,45,000 by S.M. Gleason and Co. Inc., for the premises.
DePalma had said last week he was working with John Vigliotti of
Atlanta, Ga., to close the deal on the sale of the buildings. It
was reported in early May that Vigliotti, who grew up in Bradford,
had bought the Hooker-Fulton and Gleason buildings, the Bradford
Main Street Moviehouse, three Main Street storefronts and an
adjacent parking lot.
Vigliotti had said he was waiting to make a visit to Bradford
before he set his plans for the buildings. He did say any tenants
who have been in the buildings could remain and that space was
available for more tenants to fill the building. He also said with
the age of the building he was sure there would be some sort of
renovations.
A call placed to Vigliotti on Tuesday was not returned for
further comment on his plans for the building.
Calls placed to DePalma and Robert Gleason, spokesperson for the
Estate of Stanley M. Gleason or S.M. Gleason and Co., on Tuesday
were also not immediately returned.
Gleason announced in mid-April that the buildings, which housed
23 private practices and businesses, were up for sale and would
close Oct. 1. The announcement came after Gleason was informed last
year the local branch of the state Department of Public Welfare
would not renew its lease for their office in the Gleason Building,
citing “poor conditions” as the reason.
Gleason had said the Gleason Estate loses 40 percent of its
rental income for the Main/Boylston streets complex with the
assistance office moving and could not afford to maintain the
property using only the income from the remaining tenants.
Ed Myslewicz, press secretary for the state Department of
General Services, which handles state land and lease transactions
with various state agencies, announced in April the Commission of
Buildings and Grounds “approved a lease which provides for a
10-year term with three five-year options” for the construction of
a 12,000-square-foot office for the DPW at 56-58 Chestnut St.
The building project, which will cost a total of more than ,2
million, is expected to be completed by Jan. 31, 2008, according to
Ridgway-based developer Victor Aiello Jr., property manager for
Aiello Land and Development Group, a subsidiary of Victor C. Aiello
Family Trust.
Myslewicz said the DPW office would remain in the Gleason
building until January. He said the existing lease, which was set
to expire May 31, was extended.
The DPW was looking to establish a short-term lease with
Vigliotti until the new facility on Chestnut Street is ready for
occupancy, according to Myslewicz. He said Tuesday they’re still
working to move forward with establishing a temporary lease.
