Auto dealer buys closed Kmart property near Bangor Mall
The Quirk family, owners of the Quirk Auto Group chain, has purchased property near the Bangor Mall that includes the Kmart store that closed last month and an Applebee’s restaurant that remains open.
The purchase price was not disclosed but the Bangor Daily News reported that the 9.3-acre property at 688 Hogan Road has an assessed value of $5.48 million. The deal between Gershman Properties LLC, a California real estate firm, and the Quirk family’s real estate company, QV Realty Trust, closed on March 23, according to filings with the Penobscot County Registry of Deeds.
Jack Quirk Jr., president of Quirk Auto Group, told the newspaper that the Hogan Road site is near several Quirk auto dealerships and was purchased for its future development potential. Sears Holdings Corp. retains the lease on the closed Kmart through spring 2018, the newspaper reported.
In a separate real estate transaction, the BDN reported that the Quirk family sold a pair of parcels along the waterfront to Bangor Savings Bank, which is planning to relocate its corporate offices with 350 employees to the site.
"Bangor's waterfront area has truly become a jewel for the city, and we believe it is the perfect location for a new Bangor Savings Bank campus," President and CEO Bob Montgomery-Rice said in January when the bank’s waterfront plans were unveiled. "For 165 years, Bangor has been our hometown, and investing in the downtown area was important to us. Providing our employees with the space and environment that enhances their ability to do their jobs will benefit our nearly 200,000 customers, which is always our primary objective."
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