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W W W. M A I N E B I Z . B I Z 9 N OV E M B E R 2 8 , 2 0 1 6 Avenue, to 13 acres at 212 and 250 Canco Road. Greg Mitchell, the city's economic development direc- tor, told the Press Herald that the city is willing to sell all four acres to a single buyer, or sell it by the parcel. He added that because of its location and zoning, it will likely become a mixed-used development. "I think this is an opportunity of a lifetime," Mitchell told the Press Herald. "I think it would have a dramatic impact on spurring more investment in that area. Four acres is quite a piece of real estate in a downtown area. e redevelopment of that area could have a dramatic impact on setting a direction in an area." e Bayside neighbor- hood has been a popular spot for redevelopment in the city. Across from the 82 Hanover St. property is Bayside Bowl, which is undergo- ing an expansion that will add extra lanes, a rooftop deck and a mez- zanine level for event hosting, as Mainebiz reported in May. e recently opened Fork Food Lab, at 272 Lancaster St., is also nearby and the land is within walking distance from the site of Portland's ambitious 3.5 acre Midtown devel- opment site. To make sure you're choosing MEMIC, talk to your agent or go to memic.com. WE'RE RETURNING $ 20 MILLION IN DIVIDENDS TO MORE THAN 17,000 MAINE EMPLOYERS! Our excitement is driving us (literally) to hit the road to deliver policyholder dividend checks around Maine. JOIN US AT TOUR STOPS IN WELLS, PORTLAND, BANGOR AND PRESQUE ISLE. FOLLOW MEMIC ON FACEBOOK. FACEBOOK. MILLION TOUR DIVIDEND AHEAD A historic Bangor block changes hands in historic deal B A N G O R — One of Bangor's largest real estate deals of its kind — the purchase of a block of six historic buildings on Exchange Street — closed in late October. The buyer, Adam Moskovitz, who started ANM Properties in 2011, fi nalized his purchase Oct. 26 for an undisclosed sum. It was listed in July at $1.95 million. Moskovitz said he's already been contacted by quite a few potential tenants, and has held fi rst and sometimes second meetings. Most of the interest has been in the 33 State St. bank building and the Nichols Block ballroom building due to their signifi cant architectural heritage. One of the contacts has been from a Portland-based restaurant business and another a Bangor business. "That's really encouraging, because it reinforces every- thing I've been saying, that people are excited and see the buildings' potential," he said. Moskovitz, originally from Florida, spent eight years in the military, most recently having served in Iraq. After graduating from the University of Maine in 2008, he saw a need in the apartment business. "I saw the rental market was emerging a bit because, even though people were losing their homes, they were mov- ing into rentals," he said. In 2011, as ANM Properties, Moskovitz bought his fi rst property, built in 1878 and fi tting with his love of historical and architecturally signifi cant buildings. "They just don't make houses like they used to," he said. "Even though a house is maybe outdated on the inside, the bones are normally structurally indestructible." Moskovitz acquired over 30 units and two commercial buildings, primarily in Bangor and elsewhere in Penobscot County. He guts them, restores architectural elements like old moldings and fl oors and renovates to modern standards. The Bangor block, between State and York streets and comprising 52,945 square feet, was marketed as a pack- age by John Bonadio of Maine Commercial Realty and Pete Laney of C-21 Venture Ltd., who represented seller Eaton Tarbell Jr. Moskovitz was represented by his wife, Elizabeth Moskovitz, a broker with ERA Dawson Bradford in Bangor. "The reason I made the leap was, being a Bangor resi- dent, in the last few years I've seen a resurgence and that's exciting," Moskowitz said. "That encouraged me on buying this as an investment opportunity. But it also helps my city. Being part of something like that is in itself an incredible opportunity. My biggest idea is about how it's going to add value to Bangor, something that's going to make other people happy and feel that part of Bangor is coming back to life." — L a u r i e S c h r e i b e r P H O T O / L A U R I E S C H R E I B E R Six buildings sold in October for an undisclosed sum. The parcel was listed in July at $1.95 million.