Anchor Building & Movie Theatre in Downtown St Johnsbury Sold

Anchor Building & Movie Theatre in Downtown St Johnsbury Sold
St. Johnsbury, VT The building that houses the Star Theatre and other popular retail and business establishments in downtown St Johnsbury was sold this week, along with the movie theatre business.
The property, located at 17 Eastern Avenue was owned by Recreation, Inc. and successfully owned and operated by the late Bill Costa, Orlando Costa, Jim Heath and the Costa family. Jim Heath, owner/manager of the Star Theatre said, "After many years of providing entertainment to the greater St. Jay area, we felt it was time for us to pass the torch onto a new owner. It has been our pleasure to be a part of this community, and we know that the new owner will continue to serve the area."
The building was purchased by Alexander Bulay. Bulay owns four theatres in upstate New York and is looking forward to operating the Star Theatre, his first venture into New England. "I have been in the movie theatre business for years and am always looking for new opportunities to expand, and this was a terrific opportunity for us." He added, "We have already been working closely with Jim Heath to learn the local operation which will allow us to hit the ground running. We do have some new ideas planned for the theater that have worked well for us in our other locations and will plan to introduce them over the coming months. We are look forward to continuing to show the latest movies at a fair price for the area residents."
Mary Doherty and Steve Horan of Peabody & Smith Realty, Inc. represented Recreation Inc., and assisted Mr. Bulay in this transaction.
Peabody & Smith Realty, Inc., is a full service residential, land and commercial real estate company with offices in Franconia, Littleton & St. Johnsbury. Its Commercial Division is based in Franconia and includes of four brokers: Ken Mosedale, Mary Doherty, Steve Horan and broker/owner Andy Smith, who focus on commercial properties and business brokerage opportunities throughout New Hampshire and Vermont.
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