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"They bid aggressively," Tuttle said of the Handys.
"The family is very proud to get this building," Joe Handy said soon after signing the papers for the transaction.
Six members of the Handy family three brothers, two sisters and their mother gathered in the boardroom of Merchants Bank in downtown Burlington on Monday to close their deal to buy the bank's historic buildings on College Street.
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The Free Press kept the building containing its printing press, on South Winooski Avenue, but the rest of the paper's operations will move next month to 100 Bank St.
Mike Tuttle, president of Merchants Bank, said the bank had been using a "small fraction" of the space available in its two buildings since the main operations of the bank moved to Kennedy Drive in South Burlington in the 1980s.
Brothers Investment Group, which owns convenience stores, commercial properties and other real estate mostly in Chittenden County, currently holds its meetings in a space above Handy's Service Center, the Shell station on South Winooski Avenue downtown, where the family began its business in 1969.
The Handys, who do business as Sisters and Brothers Investment Group LLP, will use the parking garage that came with the bank's buildings to provide parking for residences they plan to build in the other downtown real estate they bought recently: the Burlington Free Press buildings just across College Street.
Tuttle said the bank will move its downtown operations next door to the other building it sold to the Handys, leasing it back from them and continuing to offer banking services. He said there were other buyers interested in the bank's buildings.
Charlie Handy said his father emigrated from Lebanon to Vermont in 1965, going to work for his brother, Charlie Handy's uncle. The first Handy to come to the United States was Charlie Handy's great grandfather, Salamin Hindi, who landed in Newport in 1896, starting a business selling ice to dairy farmers to keep their milk cold by cutting the ice Converse Low Black Leather from lakes in the winter and storing it in barns, covered in hay.
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"My whole family worked there," Charlie Handy said. "When that one wasn't enough, we bought the Mobil across the street. We work hard. That's all we know to do is work, and we enjoy doing it."
siblings involved in Sisters and Brothers Investment Group LLP are Joan, Laura and Charlie Handy.
"My father hardly spoke English," Charlie Handy said. "He finished the third grade, but he could read Converse Dainty Ox Pink
It is "very hard to get parking in Burlington," he added.
"With the Free Press building we want to do some high end housing," Anthony Handy said. "People living there will want parking. We have a parking facility here for them."
Handy family adds Merchants Bank buildings to downtown Burlington real estate holdings
Anthony Handy said "national high end retailers" are interested in moving into the bottom floor of the historic bank building at 164 College St.; He declined to say who those retailers are. The siblings hope to keep the ornate boardroom, with its high ceilings and polished woodworking, as a conference room for their business.
and write in three languages. He would look at a deal and know right away if it was a good or bad deal. He was a street smart guy. He may not be able to read the lease, but he would know what's going on. That's why he had us: to do all the talking, reading and writing.".
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