Stock Exchange closes, new owner buys building

The Stock Exchange at 326 S. Campbell, Shavonne Downey’s 2 1/2-year-old used-clothing outlet, closed its doors in mid-May, and building owner Larry Hughes sold the location May 12 to Prudence Bone, owner of The Harem Boutique and Salon at 1907 S. Glenstone, Ste. D. Bone would not comment on the building purchase and said she is still considering her options on what she will do with the building.

Chris Ball is project manager for Jack Ball & Associates Architects PC, the firm doing the redesign. He said plans for interior changes have not been finalized.

On April 28, the Rebori’s Shoes building, immediately north of The Stock Exchange at 322 S. Campbell, was bought by Orlando and Shannon Merced for an undisclosed amount.

The buildings are immediately north of Rasta Grill on the corner of Campbell and Walnut.

The Stock Exchange wasn’t failing, Downey said, but it was time for a change – either expand or do something different. She knew as far back as March that Hughes was considering selling.

Rather than seek another location, Downey, who carried pre-owned men’s and women’s clothing, jewelry, hats, shoes and purses, as well as some hand-made consignment items, sold her inventory to spend more time with her 3-year-old daughter. She would not disclose revenues for 2003.

Downey, who was the only employee, rented her 1,000-square-foot shop from Hughes for $450 a month, she said. Hughes is a Realtor with Murney Associates.

While the learning curve was significant for Downey, who hadn’t owned and operated a business before, she said the experience may translate into running a similar retail business in the future.