October 5, 2017

ANM Properties adds retail business to Bangor’s Exchange Street

Courtesy / City Drawers
Courtesy / City Drawers
City Drawers, a Belfast-based women's wear and lingerie shop, is coming to Bangor's Exchange Street, with an opening expected by Nov. 1.

City Drawers, a Belfast-based women's wear and lingerie shop, is coming to Bangor. The six-year-old business has signed a long-term lease to set up shop in the block of buildings on Exchange Street purchased by ANM Properties last year.

City Drawers plans to open its Bangor store by Nov. 1 and is hiring staff to work there. The original Belfast location will remain open, although the store's Bath location has closed in order for City Drawers to expand into Bangor.

"Bangor is the epicenter for a number of our non-local customers," City Drawers owner Dee Bielenberg said in a news release. "With some larger stores leaving the area, there's a void in certain products and services, and we are looking to meet the demand and fill that void."

ANM Properties LLC is a Bangor-based property management firm specializing in luxury apartment rentals, design-build and commercial development.

"This is just more excitement coming to downtown Bangor," said ANM Properties CEO Adam Moskovitz. "We saw the hope and promise of the Exchange Street block of buildings when we first looked at it well over a year ago, and it's beyond exciting to see some of that vision take shape, bringing renewed enthusiasm to this side of Downtown."

Moskovitz, who started ANM Properties in 2011, finalized on Oct. 26 his purchase of a block of six commercial buildings in downtown Bangor that city officials saw as a cornerstone of continuing revitalization efforts. Although terms of the sale were not disclosed, the 52,945-square-foot block of buildings was listed in July at $1.95 million.

He told Mainebiz shortly after the acquisition closed that it was driven by the resurgence he's been seeing in downtown Bangor in recent years.

"That's exciting," he 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 that part of Bangor is coming back to life."


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