BARTLESVILLE, OK -- The former May Brothers clothing store in downtown Bartlesville has a new owner.

Ownership of the May Brothers building was transferred on Thursday afternoon from Mike May to the Sare family.  The Mays and the Sares are both long-time Bartlesville families.

According to a news release, ownership was transferred for the purpose of stopping the final demolition order and saving the structure, along with the adjacent 1904 building, Right Way Hotel Annex.

Both buildings were damaged in a fire on August 31, 2009.

May confirmed that the purchaser plans to rehabilitate the lower two floors of the building.

May Brothers closed its doors in January of 2009.

Terms of the sale were not released.