BDN's Bangor Home Sells for $13M, Seven Times Its 2019 Price
Winterport's Kittyhawk Properties paid $13 million for 1 Merchants Plaza, up from $1.85 million after nearly $9 million in renovations.
Kittyhawk Properties LLC, a Winterport real estate firm owned by Peter and Lisa Caron, bought the seven-story office tower at 1 Merchants Plaza in downtown Bangor for $13 million in April 2026, Peter Caron told the Bangor Daily News. The newspaper has run its operations out of the building since 2014.
The sale is the building's second change in ownership in less than ten years. Sky Villa LLC — the investment vehicle of Hampden developer David St. Germain — paid $1.85 million for the property in 2019 and later put roughly $9 million into renovations, Peter Caron said.
Kittyhawk Properties has not said how much it will spend on the building going forward, but Peter Caron said the firm plans some cosmetic upgrades, and Lisa Caron said Maine-based contractors will do the work. The firm does not intend to swap out tenants, she said. Engineering firm Haley Ward occupies five of the seven floors, while the newspaper's staff uses the ground floor.
Peter Caron said Kittyhawk Properties has been investing in Maine real estate for roughly 30 years, and Lisa Caron said the firm has grown gradually over the decades toward a purchase of this size. "[We] started very small and moved [our] way up the chain," Lisa Caron said.
This story was first reported by Bangor Daily News.
