There’s a new owner of the historic downtown building that’s home to PAve and the adjacent site for the rooftop bar and patio and Lewis Drug.

A holding company of Sioux Falls-based Cresten Capital bought the 12,000-square-foot building at 130 S. Phillips Ave. from Boomerang Investments, which had ties to Legacy Development. It dates back to 1911 and for years was Weatherwax’s Men’s Wear.

“Buying the building was kind of full circle for me,” Cresten CEO Kevin Tupy said. “My grandpa was a tailor for Weatherwax’s and spent his entire career there until he passed away in 1968, two days after I was born.”

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