Bangor, ME Bangor Savings Bank’s newly built flagship campus has added another building to the home base. On February 11th, the bank purchased 36 Pleasant St., a 28,780 s/f waterfront office building from Gopher Hill Communications, LLC for $1.65 million. TC Haffenreffer from NAI The Dunham Group represented the seller. David Hughes from Epstein Commercial Real Estate and David Latulippe of CJ Developers Inc. represented the buyer.
The former home of Berry Dunn, 36 Pleasant St. is a turnkey owner/user office property.
“When we think about Bangor and what can benefit the region from an employment standpoint, we know that further development of our waterfront campus is necessary,” said Bob Montgomery-Rice, president and CEO of Bangor Savings Bank. “The purchase of 36 Pleasant St. works well with our long-term vision. As the bank grows across Northern New England, our need for Bangor-based employees to support that growth will continue. No matter where we go, however, our commitment to the Bangor region is steadfast and this investment reiterates our intention to remain a Bangor-based company.”
The multifamily market in Maine’s major cities presents a diverse range of opportunities for investors. We looked at the potential benefits and unique characteristics of three major submarkets in the state: Portland, Bangor, and Lewiston-Auburn. The information below is based on research done in CoStar and county registries, and focuses on multifamily properties that have four or more units.
As we all know, interest rates have been changing drastically, with movement in both directions, depending on the type and term of financing. The Federal Open Market Committee has taken drastic action in efforts to curb abnormally high inflation, but it hasn’t controlled labor cost growth to the extent that was intended.