Bagley and Company, 315 W. Superior St., was operated by the same Duluth family for 131 years before closing last summer.

A long-time downtown jewelry store has been purchased by a Texas-based developer with Hermantown roots who plans to turn the building into office space for Internet professionals and create a food and music venue where diamond display cases once stood.

The Bagley & Company Jewelers building, 315 W. Superior Street, was purchased earlier this month by Titan Premier Investments of Houston, Texas. The property includes three historic retail buildings, approximately 19,000-square-feet of space, several skyway storefronts and a turn-of-the-century tea room hidden in the middle of it all.