
Androscoggin Bank’s building at 30 Lisbon St. is on the market, but the company’s CEO says even if it’s sold, a bank branch would remain. Andree Kehn/Sun Journal
LEWISTON — Androscoggin Bank has listed its 30 Lisbon St. property for sale for $1.3 million, but the CEO said if it’s sold, the bank branch would remain through a lease. It’s all part of consolidating office space in the post-COVID years, he said.
Neil Kiely, the CEO of Androscoggin Bank, confirmed Wednesday that the company is “entertaining options” for consolidating its office space in Lewiston, which includes the potential sale of the 36,000-square-foot building.
Kiely said like many other businesses following the pandemic, the bank introduced a flexible work program giving employees a remote option. With two locations in Lewiston, including office space in the Bates Mill complex, he said they’re looking to consolidate in order to bring the in-person employees together.
But, he emphasized, Androscoggin Bank is committed to Lewiston and does not plan to move or close the Lisbon Street branch.
“The important message is Lewiston is the heart of the bank, our community, and we’re committed to Lewiston,” he said.
If the building is ultimately sold, he said, they would lease space from the new owner.
According to the listing by the Dunham Group, 30 Lisbon St. is two contiguous two-story buildings on 0.75 acres. The listing states the property features ample paved parking, a 6,864-square-foot heated underground garage with direct building access, and a drive-up ATM structure along Park Street.
Nate Libby, assistant director of economic and community development, said the decline in demand for commercial office space appears to mirror the same post-pandemic trend experienced by cities nationwide. At the same time, the demand for residential units of all types remains high.
“This mismatch in demand presents an opportunity for repurposing existing vacant office space for housing, particularly in the Bates Mill complex,” he said. “Projects to repurpose spaces like that for residential are still in the early stages.”
There are several examples of projects in the works to turn former office space into housing, including the Professional Building at 145 Lisbon St., where a developer has eyed 20 market-rate apartments.
Libby said the demand for industrial space and in particular for storage, freight and logistics also remains steady on the commercial side.
Mayor Carl Sheline said Wednesday that Androscoggin Bank has “been a long-standing and valued community partner.”
“Their commitment to Lewiston has not gone unnoticed and I appreciate their willingness to maintain the current downtown Lisbon Street branch for our businesses and residents.”
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