Patricia Munson, owner of Platinum Conference and Event Center, said she plans to keep her business office in the building, but she will be closing her party space in late August.
“I had the option to leave and we’re very comfortable here,” she said. “I’m not relocating. Everybody that wants to stay can stay, or so I was told.”
Munson is one of seven tenants leasing space inside the building at 902 Central Ave.
Other tenants include Community Center for the Blind, advertising staff from the Bay Area News Group, Tracy Travel and Tracy Bridal and Alterations.
Mohammad Hatef, owner of the alterations shop, said he, too, intends to make sure his lease is upheld.
“I want to stay,” he said. “I have a lease for five years and I plan to stay for longer. The business has been there for maybe 10 years — it’s hard to relocate.”
The co-owner of Tracy Travel, Tracy Gangwer, declined to comment.
According to the building owner, Dennis Ward, anyone with a lease will be allowed to stay after the auction.
“It (the lease) doesn’t go away just because a change of ownership,” Ward said. “It’s ridiculous to think people are getting kicked out of the building. That’s not the case at all.”
Ward said he decided to auction off the building that he bought in 2004 due to the poor rental market.
“I hardly get calls anymore for rental space,” he said. “It’s been a struggle. The last couple of years, the bank, Bank of Agriculture and Commerce, worked with me and cut payments to match the income, but that’s got to end, too.”
Since his purchase, Ward said he has made more than $500,000 in renovations. He said his biggest investment was converting the former Opera House Restaurant on the third floor into office space.
The three-story, 24,000-square-foot building goes up for auction at 12:15 p.m. June 27 on the steps of the Canlis Administration Building at 24 S. Hunter St., Stockton The bidding starts at $2,515,047.58, which is the remainder of the money Ward owes on his loan.
The Opera House was originally constructed in 1928 with two floors and a small meeting room that occupied a small section of the third floor, according to Sam Matthews, publisher emeritus of the Press.
One of its primary tenants was the Masonic Temple, which vacated the building in the 1950s.
Then known as the Roberts building, it housed several businesses on the ground floor, including Turner Hardware, with office space on the second floor for dentists, attorneys and the Westside Irrigation District, Matthews said.
It wasn’t until 1982 that the building got its present name with the arrival of the Opera House Restaurant, after it was purchased by the Cose family and renovated. The restaurant remained in the building for 10 years until a fire on May 7, 1992, closed the structure’s doors for more than four years.
After being sold, the building was renovated and reopened to house several businesses.
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