Herlochers buy property at East College and South Pugh, say businesses will remain
STATE COLLEGE — A piece of prime property in the heart of the downtown retail district is changing hands.
Downtown businessman Neil Herlocher confirmed June 6 that he and his father, Chuck Herlocher, have signed an agreement to purchase 26,804 square feet at East College Avenue and South Pugh Street. The real estate listing address of the property was 114 S. Pugh St.
The mixed-used property includes nine commercial spaces and 16 apartments, with frontage on East College Avenue, according to the listing.
“My father and I are happy to be purchasing this historic area,” Neil Herlocher said in an interview with the Gazette. “Business there will continue as usual. There are no plans to make drastic changes to the properties, although we will do some renovations and improvements.
“We love downtown State College and we want to do whatever we can to make it a better place for everyone,” he said.
According to the Centre County assessor’s office, the property is listed in records under 134 E. College Ave. with a mailing address of 114. S. Pugh. It includes multiple buildings owned by Gentzel Corp. and has an assessed value of $804,120.
The Herlochers bought the property under the name of Cornelius LLC, the middle name of both Herlochers. Neil Herlocher said the paperwork has been signed for the purchase, although closing won’t happen for a couple weeks.
“We’re very lucky to have the financing institution on board that we do,” said Neil Herlocher. “Riverview Bank is great to work with, and they will be coming to State College soon.”
Businesses at the property include Spat’s Café, The Clothesline, The Apple Tree, Old Main Frame Shop, Rathskeller and Sadie’s. The apartment mix consists of nine one-bedroom units, three two-bedroom units and four five-bedroom units, according to the listing.
“We’re very invested in downtown State College,” said Neil Herlocher, talking on behalf of himself and his father. “We want to continue to see State College be a great place to live, work and raise a family.”