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KEENE, N.H. (MyKeeneNow) A purchase agreement has been signed for the Main Street America Insurance property at 55 West St. in Keene, with developers Jack Franks of Avanru Development Group and Dick Anagnost of Anagnost Companies expected to acquire the property later this summer.
The asking price for the property was reportedly around $7 million when it went on the market in spring of 2025, although the parties involved declined to disclose the agreed-upon sale price because of a non-disclosure agreement.
Anagnost said no specific redevelopment plans have been finalized for the property at this time as the buyers continue the due diligence process.
The sale of the four-story, 130,000-square-foot office building has not yet closed. The transaction also includes two additional buildings and the surrounding lot.
Main Street America Insurance previously announced plans to sell the property because the company no longer needs as much office space following the shift to hybrid work arrangements that became common after the COVID-19 pandemic.
Company officials confirmed employees are moving from 55 West St. to the company’s building across the street at 100 West St. after the sale.
Janet Masters, a media relations representative for the company, said Main Street America Insurance still plans to maintain a presence in Keene following the sale.
Masters also noted that while many longtime residents still refer to the company as “Grange,” its current name is Main Street America Insurance.
The company was founded in Keene in 1923 as National Grange Mutual Liability Company before eventually becoming Main Street America Insurance and later merging with American Family Insurance in 2018.
Franks, whose Walpole-based Avanru Development Group has been involved in several development projects in the region, has recently focused on workforce housing and commercial redevelopment efforts across New England. The company is also constructing a new aircraft hangar at the Keene Dillant-Hopkins Airport that could eventually support an on-demand charter flight service.
Anagnost, a Manchester developer and owner of Keene’s Revo Casino, has expanded his investments in Keene in recent years, including plans to relocate the casino to the former Toy City building on Key Road.
The office building at 55 West St. was constructed in 1950 and has long been one of Keene’s most recognizable corporate properties.