Despite having been purchased in 2016 with high hopes for redevelopment success, and some progress in the intervening years, the six buildings that line the west side of Exchange Street in Bangor are once again up for sale.
The block of office and retail buildings, totaling 50,300 square feet, are listed with NAI The Dunham Group for purchase separately or together, and the listings were scheduled to go online Friday for sale for $2.7 million. ANM Properties bought the buildings in 2016 for an undisclosed sum, when they were listed at $1.95 million, MaineBiz reported.
Since 2016, the buildings have acquired several new tenants, including Black Bear Brewing Co., the financial planning firm Thompson-Hamel, several arts organizations and the lingerie shop City Drawers. Most of those tenants are in the southern half of the interconnected block, commonly known as the Nichols Block, which ends at York Street.
Friday’s listing includes 187-197 Exchange St., which was built in 1892 and referred to as the Nichols Block building, for $1.6 million; 205 Exchange St., built in 1930 and renovated in 2004, listed for $250,000; and 209-213 Exchange St., built in 1848 and listed for $455,000, MaineBiz reported.
The Nichols block has been listed for sale before, with recent sale listings that included a 2019 effort to sell the northern half of the block, which includes the prominent former headquarters of Bangor Hydro Electric Co. at the intersection of State and Exchange street. The 2019 listing offered the buildings for $1.6 million.
Besides the aforementioned new businesses, a new buyer would also inherit Bangor Arts Exchange, the home of the Bangor Symphony Orchestra, which moved into 187-193 Exchange St. in 2017.
The Nichols Block was the only building on Exchange Street to survive the Great Bangor Fire of 1911.