ST. CLOUD -- DB Searles in downtown St. Cloud is changing ownership.

Owner Andy Barth says the three-story bar and restaurant on 5th Avenue ceased operations Thursday.

He says they have accepted an intent to purchase agreement with Inventure Properties.

Barth says he's not sure what's next for him, but he is looking forward to spending more time with his family.

Inventure Properties co-owner Doug Boser says they hope to have the business open again by August 15th, when the students return to St. Cloud State University.  He says the first floor will most likely remain as a bar.  The plan is to renovate the second and third floors, but he says it is way to early to know exactly what that means.  Boser would not comment on whether the building will keep the DB Searles name.

Boser says his company did not shut the bar down, it was going to close Thursday no matter what.  He says Inventure Properties decided to buy the building, so they could continue to do everything they can to make sure 5th Avenue in downtown St. Cloud is as vibrant as can be.

Earlier this month Inventure Properties announced the closure of Brothers Bar and Grill, and the plan for a new restaurant to take over that space.

Inventure Properties also bought and renovated the First National Bank Building on the corner of 5th Avenue and St. Germain Street.  That historic building is now home to the Downtown Council, the Greater St. Cloud Development Corporation, and the Kensington Bank.

The Barth family bought DB Searles in May of 2012.