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Investment Properties president denies ownership

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By Denyse Clark, Reporter

The listed owner of the night club property where a deadly shooting took place in Chester last week has denied knowledge of ownership.
J. Arthur Whedon, president of Investment Properties of Charlotte, also known as S&P Investment Properties, LLC, said Tuesday that he was unaware that his company was currently listed as owner of the property at 1452 J. A. Cochran Bypass in Chester.
“We have nothing to do with this property,” Whedon said.
He had no further comment.
According to information also obtained on Tuesday from the Chester County Tax Assessor's Office, the property at 1452 J.A. Cochran Bypass, where Studio 72 was located, lists S&P Investment Properties, LLC as the current owner.
The lettering on the glass doors of Studio 72 has been scraped off and signs are posted that read, “Keep Out” and “No Trespassing.”
On his Facebook page on Sept. 23 at 6:31 p.m., Chester County Sheriff Richard Smith wrote, “Studio 72 is shut down as of today. They have been evicted!!!”
The closing of the night club had nothing to do with the shooting, Smith said. The property owners, which he also identified as S&P Investment Properties, began the process to evict the club owners a few weeks prior to the shooting at that site, he said.
S&P Investment Properties purchased the property at 1452 J.A. Cochran Bypass, identified with tax map # 080-02-01-006-000, on May 13, 2009 for $935,000, according to information obtained from the Chester County Tax Assessor's Office. Court documents filed with Chester County Magistrate Dianne Moore's office show S&P Investment Properties filed eviction papers against G & M Social Club, the operators of  Studio 72 on July 23 for $4,000 in unpaid rent. Judge Moore ordered the eviction effective Sept. 21.
The local sheriff says the closing of this club will enhance the safety of the entire community.
“I think it's a relief to the community that this club has closed,” Smith said. “People shopping out there don't have to worry about being injured.”
S&P Investment Properties, established in 2004, is a private company of unclassified investors, according to information on their website.