Dear CIBOR Members,
Thank you all for your support to make the 1st Annual New Hampshire Commercial Real Estate Awards Event a success. We would like to thank our sponsors, judges, the NH CIBOR board and again to all of you for your participation and support. Very special thank you to our media sponsors with the Union Leader and New England Real Estate Journal.
We were able to raise over $5,000 and the award recipients will be allowed to designate a non-profit to receive a portion of these funds.
Gold Sponsors: Union Leader, Eastern Bank, NewVo Interiors, St. Mary’s Bank and New England Real Estate Journal
Silver Sponsors: Devine Millimet, Colliers International, Alpha Locksmith, Optima Bank & Trust, R.J. Finlay & Co., Bank of New England and Strategic Benefit & Insurance Advisors, LLC
Bronze Sponsors: Cleveland, Waters and Bass, P.A., Michael Nesmith Photography and The Executive Court Banquet Facility
Judging Panel: Taylor Caswell, Executive Director of NHCDFA; Brian Gottlob, Principal of PolEcon Research; Cynthia Harrington, Business Development Manager for NH DRED; Steve Heavener, Executive Director of CRDC; Susan A. Manchester, Attorney at Sheehan Phinney Bass + Green, P.A.; Don St. Germain, EVP & Chief Lending Officer at St. Mary’s Bank.
Master of Ceremonies: Tom Duffy
Please see below for the list of award recipients and attached is the June 2015 Union Leader Article that ran covering the event. We will certainly be looking for feedback to improve for next year so please let us know of any comments or suggestions.
Thank you again and see you all next year!
Sincerely,
NH CIBOR Cares Board of Directors
Legacy Award: Karl and Louise Norwood
The Norwood Group Inc. was founded in 1968 by Karl and Louise Norwood.
Doing business as NAI Norwood Group, it is one of the largest commercial real estate brokerage firms in the state with offices in Bedford and Portsmouth.
Deal of the Year
Property: 52 Pettengill Road, Londonderry
Buyer representative: Michael Tamposi: CBRE/New England (buyer and tenant representative). Steve Clancy of CBRE/New England was also involved.
The deal: Pettengill Road in Londonderry was a land sale to Prologis — a national and international developer and owner of industrial buildings — for the construction of a 614,240-square-foot LEED-certified high-bay logistics center at 52 Pettengill Road adjacent to the Manchester-Boston Regional Airport.
The property will be managed by UPS for aircraft engine manufacturer Pratt & Whitney and is expected to bring in 600 new jobs.
Deal of Year: Runner Up/Honorable Mention
Property: Cellu Drive, Nashua
Seller Representative: Bob Rohrer and Lisa Campoli — Colliers
The property, which sold for $21.75 million in 2014, includes 227,000 square feet of space on 16 acres. It was formerly a corporate-owned manufacturing center and was 100 percent leased at the time of the sale by two long-term tenants.
Deal of Year:Runner Up/Honorable Mention
Property: 55 Executive Drive, Hudson
Tenant representative: JLL
Seller representative: Cushman & Wakefield
Industrial Lease of Year
Property: 52 Pettengill Road
Tenant representative: Michael Tamposi: CBRE/New England (buyer and tenant representative). Steve Clancy of CBRE/New England was also involved.
Industrial Sale of Year — Tie
Buyer representative: Michael Tamposi: CBRE/New England (buyer and tenant representative). Steve Clancy of CBRE/New England was also involved.
Industrial Sale of Year — Tie
Property: 55 Executive Drive, Hudson
Tenant representative: JLL
Seller representative: Cushman & Wakefield
The deal: This was a sale of 166,626-square-foot-building on 35.25 acres. This was a mixed-use office and industrial property owned by PressTek (manufacturer) located in an Economic Revitalization Zone. PressTek sold the property but remained in a smaller portion. About 111,100 square feet was converted by the buyer and leased to Comcast for an 800-person call center.
Industrial Sale of Year:Runner Up/Honorable Mention
Property: US Route 1 Bypass, Portsmouth.
Buyer Representative: Anne Copp — RE/MAX 1st Choice
Seller Representative: Anne Copp – RE/MAX 1st Choice
Other: Paul Ramsey, vice president engineering at Eversource/PSNH
The deal: Property was sold to Eversource to build a $5 million substation in Portsmouth to meet an increased demand for electricity.
Office Sale
Property: City Hall Plaza, 900 Elm St., Manchester
Buyer representative: Cushman & Wakefield listed as having procured the buyer.
Seller representative: Cushman & Wakefield
The deal: Brady Sullivan Properties acquired 219,000-square-foot City Hall Plaza for $19.75 million. At 19 stories at 275 feet high, the building is the tallest in Northern New England.
Office Lease
Property: 186 Granite St., Manchester
Landlord representative: Jim DeStefano, Doug Martin, Dan Scanlon & Laura Nesmith — Colliers International.
The deal: The property, a restored class A mill building, achieved full occupancy in September, when Southern New Hampshire University leased an additional $37,816 square feet of office space, increasing its footprint in the building to 73,166.
Investment
Property: 275 Portsmouth Ave., Stratham.
Buyer representative: Chris McInnis — Nautilus Realty Group
Seller representative: David Choate & Andrew Ward (secondary seller representative) — Colliers
The deal: The former Great Bay Community College is situated between Great Bay estuary and Stratham Hill Park. The three-story 100,000-square-foot building includes more than 30 acres of buildable land.
Tourism & Hospitality
Property: Lyme Inn, 1 Market St., Lyme
Seller representative: Charles Goss — NAI Norwood Group
The deal: The 17,500-square-foot lodging center, built in 1900 and renovated in 2008-2011, includes 14 guest rooms, three dining rooms, a tavern room and a banquet room. While the selling price was not disclosed, it was listed for $1.75 million by the NAI Norwood Group.
Suburban/Rural
Property: Lake Shore Estates, Sunset Estates Road, Laconia
Buyer representative: Assisted by Andrew Fleisher — NAI Norwood Group
Seller representative: Andrew Fleisher — NAI Norwood Group
The deal: Lakeshore Estates, a garden style complex consisting of four buildings, 120 unites and more than 118,000 square feet of space, sold in April 2014 for $4.9 million.
Suburban/Rural:Runner Up/Honorable Mention
Property: 49 Vose Farm Road, Peterborough
Landlord representative: Cushman & Wakefield
The deal: The submission was for a lease renewal in 2014 at a 144,000-square-foot industrial building.