January 22, 2018
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Historic and long-vacant Bangor block gets another tenant

By Nick Sambides, BDN Staff

A financial services firm will come to Exchange Street as part of a developer’s plan to end decades of vacancy in downtown Bangor’s former financial block, officials said Tuesday.

Thompson-Hamel, LLC, which has offices on State Street and in Presque Isle, has signed a multi-year lease for 187 Exchange St.

The firm will move into the street-level space in November, ANM Properties CEO Adam Moskovitz said.

Exchange Street is among a half-dozen downtown streets that city officials have been working to revitalize since the 1990s.

Moskovitz bought six Exchange Street buildings, including the Nichols Block, as one 53,000-square-foot property for $1.95 million in October.

“As we continuously add more tenants, it just rejuvenates interest and draws people to the blighted buildings that once existed there,” Moskovitz said Tuesday. “These buildings haven’t been used in basically 20 years or so.”

Thompson-Hamel is his fourth occupant. The Bangor Symphony Orchestra will move into Nichols, the interconnected buildings at 187-193 Exchange St., in September. It will also sublet to Launchpad, a Bangor-based arts nonprofit, and Bangor Ballet, Moskovits said.

Brian Hamel, managing partner of Thompson-Hamel, said the firm will get a marquee storefront.

“Our highly visible space in downtown Bangor will be convenient for our clients and allow us to expand our services significantly,” Hamel said in a statement.

Moskovitz estimates that he has done about $300,000 worth of renovations to his buildings, and hasn’t finished yet.

The move to Exchange Street is Thompson-Hamel’s second expansion in Bangor. It purchased Farrington Financial Group and began operating out of Farrington’s State Street offices in November 2016, Hamel said.

 


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