New Study Shows Bangor Area Commercial Real Estate Holding on Strong
Some good news about commercial real estate in the Bangor area.Every two years there is a survey done on what’s being added or removed.A new report shows the area is holding on strong, with many retail shop slots filled and new development like the Bangor Arena.The report says steady is the best way to describe the Bangor market and it’s mainly because of the area’s role as a service center.”You still get this feeling of, oh we’re really slow or things aren’t moving as fast as they should. But, the reality is that the Bangor market is steady. We’ve had some successes in spite of the recession. We haven’t become nearly as vacant as some of the other spaces. Our retail never hit a 10% vacancy, in larger metropolitan areas those numbers were in the double digits,” said Broker, Bev Uhlenhake.The hope is that these findings will encourage prospective businesses from picking the Bangor area as a place to set up shop.