LEWISBURG — A Lewisburg banking landmark recently changed hands with a stipulation regarding future use.
Documents filed with the Union County Register and Recorder’s Office noted the $420,000 transfer of the former First Commonwealth Bank at Market and Third streets to SJ Holdings LLC and CLDC LLC.
Mehrad Jon Jahanshahi signed on behalf of the buyers.
SJ Holdings and CLDC each held a 50% share of the property which included a brick building behind the gray stone bank building. It had served until recently as the headquarters of the Lewisburg Downtown Partnership.
First Commonwealth halted lobby and ATM operations in December at the early 20th Century structure as part of a wide-ranging consolidation. Santander and Sovereign Bank were among previous users of the building which community leaders hoped would find a constructive new use.
A covenant in the new deed stipulated the former bank would not be used for sale, distribution, growth of marijuana, its byproducts or related services.
The First Commonwealth branch along West Branch Highway in Kelly Township remained open.
Recent seven-digit property transfers in Union County included 85 acres along Colonel John Kelly Road in Buffalo Township. The $1,357,735.18 sale was from the estate of Wendell E. Stahl to Alvin H. Zimmerman and Erma S. Zimmerman. Documents filed indicated the acreage bordered on Bunyon, Zimmerman and Baker private lands.
A $1.7 million transfer of land at 205 Bull Run Crossing, Buffalo Township, was also recorded from L2 Real Estate LLC to Store Master Funding XVI LLC of Scottsdale, Ariz. The 3.3-acre property bordering on lands owned by Tressler Lutheran Services Associates, BrookPark Village South, Farley Circle North and Bull Run Crossing North. It was previously conveyed to the Cornerstone Christian Fellowship.