Paulucci complex sold for $7 million
Business North is reporting, via Finance & Commerce, the Paulucci Building at 525 S. Lake Ave. in Canal Park was sold in November for $6 million.
The buyer: Star PB LLC
The seller: Etor Properties LLC
The story notes that “in a second related transaction, Star PB LLC paid $1 million to Buckeye Corp., another private investment entity, for a 16,000-square-foot retail and office building next door, at 501 Lake Ave. S.”
The Paulucci Building is named for the late Duluth businessman Jeno Paulucci. It was built in 1915 by Gowan-Lenning-Brown, a wholesale grocery firm. The neighboring structure was built in 1909 as the Buckeye Building for National Biscuit.
Vikre Distillery is the most prominent business operating out of the two buildings.
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