16 March 2018
NHCIBOR, New Hampshire Commercial Investment Board of Realtors
Minutes of Seacoast Marketing Session which occurs every third Wednesday of every month.
Third Floor Conference Room One New Hampshire Avenue
Pease International Tradeport. Portsmouth, New Hampshire
Thank you to Two International Group for providing this meeting space!
Lori Hults, Ute Luxem, and John Hall of Profile Bank were the breakfast sponsors. Ute and John handle most of the commercial loans and have some others originate with Scott Littlefield in the Alton branch and Justin Avery in the Sanbornville branch. Profile Bank has been in business for 107 years and is a mutual bank headquartered in Rochester with a local board of directors made up of local business people. John finds Ute is a wonderful representative in the community and is a tremendous advocate for customers. John rarely says no to Ute’s loan deals. Lori is delighted to attend her first meeting and was happy to see a couple people she knows such including Tony.
Cash Buyers
Tony Fallon with Tony Fallon Architecture designs pleasing places. Tony also shared an oft missed requirement in New Hampshire as an add on to the code that has now become a native code requirement with Massachusetts with their January adoption of the 2015 ICC suite of codes. Entry doors in New Hampshire of any commercial space 1,000 sf and up are to have a power operated opener at the entry door. Grandfathering only works if there is no upgrade to the interior space. Upgrades to interior space have to dedicate 20% of the renovation budget to ADA upgrades until full compliance is achieved. The push pads can be wireless but, of course, a power feed to the door opener/closer is needed. For the installed equipment sans electricity, figure 2K and one vendor that Tony likes is Northeast Door at (603) 225-7826.
Bob Marchewka with One Commercial has an Exeter office user looking to relocate to Portsmouth, Hampton, or Exeter into 4,000 sf for lease. They may consider buying. Bob also has an office user looking for 2,000 sf in Exeter, Newmarket, Durham, and Dover.
Bryan Dubois with Dubois Associates has a search for 5,000 sf of retail with water and sewer from Dover to Manchester.
Scott Forte with Berkshire Hathaway Verani deals in New Hampshire, Maine, and Massachusetts. Scott has a multi buyer looking to spend up to 200K to 2M from Portland to Portsmouth to Rochester with no particular cap rate. Also, Scott has a search for 800 to 1,200 sf of retail on Bow, Market, or Congress Streets in Portsmouth.
Ethan Ash with KW Commercial has a motivated buyer of 3,000 to 8,000 sf of retail/industrial from Portsmouth to Portland in the 500K to 1M range. They would rather buy but may lease and this location should have some traffic on the road.
Dave Garvey with KW Commercial is looking for 10,000 sf of industrial semi-retail in Dover to Somersworth to Lee and possibly Newmarket. Also, Dave is looking for 15,000 of industrial with two drive-in doors and two loading docks anywhere on the Seacoast.
Eve Hoefle with Two International Group shared that they are now buying beyond the bounds of Pease and Downtown Portsmouth. Think of Eve if you would know of multi-family and office opportunities.
Justin Powers with Chapman let us know that they implement sustainable practices as standard practice on all projects. They build a lot of health care, corporate, and education deals.
Caitlin Burke with CBRE Portsmouth has a buyer looking to place 1M to 1.5M in Portsmouth.
Andy Ward with Colliers has a buyer looking at no particular cap rate for 500K to 2M that is comfortable with retail but may look at other uses within 30 minutes of Portsmouth.
Mark Lacoy with Allobar assists with tax abatements in Maine, New Hampshire, and Connecticut.
Robert Cruess with TFM/MSC gave a shout out to Profile Bank with whom he has a very good relationship. They are worth talking to for money.
Jeff Boufford with Boyd & Boufford from Bedford shared his commercial about commercial insurance including protecting your company from the Wild West of cyber assault.
Marie Degulis with Second Wind keeps confidence in your cup.
Kevin Raymond with Optima Bank has cash to lend and offers full services including C&I.
Matt Lefebvre with Elm Grove has multi-family buyers. One is looking for deals from 500K to 5M that range from turnkey to turkeys in New Hampshire only.
Chris Ratte with SK Lawyers helps with purchasing real estate and businesses.
Robin Comstock with Somersworth Economic Development has lots of industrial space and noted that there are 24,000 cars a day on High Street and 30,000 a day on 108.
Ray Sirois with Service Master cleans up in New Hampshire, Maine, and Massachusetts.
Jim Gove with Gove Environmental shared the New Hampshire Wetlands rules that are floating about with HB 1104. There are adjustments to the length of time that the state has to review proposals and a wild card if the local conservation committee oars in.
Bill Jean with Fulcrum Associates in Amherst serves the tristate area and has a cash buyer looking for 100 unit and up multi-family opportunities that are approved plans and another party looking for 30 or so units that are existing or approved for construction.
Peter Hoekstra with Peniel Environmental offers disaster relief from mold, fire, water, and asbestos.
Matt Bacon with NAI Norwood seeks one large retail or Class A Office asset from 9M to 14M in Southern New Hampshire or maybe Northern Massachusetts. They are fond of the Seacoast. Also, Matt has a hunt for a mixed use in Downtown Portsmouth with one or two retail/office and 5 or so residential units.
Lynne Merrill with Merrill Bartlett has a buyer looking for 15,000 to 25,000 sf with some distribution and showroom South of 101 and East of Manchester.
Noah Behrend with HBL Insurance can insure industry.
Justin Mykolyski with Creative Office Pavilion has some quick ship options.
Julian Scala with Office Resources announced their new offices on Deer Street.
Jamie Thompson with Kennebunk Savings serves up loans hospitably for hospitality from their large footprint in New Hampshire and Maine.
Lynne Bagby with Asset Preservation helps with deals across The United States of America and around the world.
Mike Whitman with Bangor Savings Bank is a commercial real estate lender in Portsmouth and shared that their purchase of Granite Bank will close on 6 April. They are starting to do residential lending in Massachusetts.
Erin Pike with Saint Germain Collins helps with phase one due diligence.
Jeff Brown with Cross Insurance has a person looking for data centers 5M and up in all 50 states.
Peter Gluckler with Masiello in York is here to help.
Beth Chea with Atlantic Capital let us know that the SBA is expanding the fixed rate length to 25 years starting in April for 504 loans. Beth joined Atlantic recently.
Laura Farago with Colliers is looking for industrial space within 20 minutes of Exeter in the 5,500 sf to 8,000 sf range that is for sale or maybe for lease. One to two docks are needed with no particular power needs.
Al Silva with Silva Graphics serves three states. Guess which ones?
Barbara Lizotte with Tobey and Merrill noted that they have been up and insuring since 1920 in all three states focusing on commercial lines. They are close to the coast and are happy to write near the wind and waves.
Erik Crisman with Brookstone is a GC hailing from Manchester serving all three states.
Lori Hults with Profile Bank has been managing the Somersworth branch for a while and is now in charge of business development. Lori is happy to show how deftly Profile can manage your deposits and cash management.
Ute Luxem with Profile Bank shared their lending limit has risen to 3.3M and they are happy to look at loan requests. SBA loans are still under 5% but the tide is rising so off the fence now.
David Choate with Colliers has a buyer looking for 20,000 to 30,000 sf north of the General Sullivan Bridge.
Announcements
The Statewide NHCIBOR meeting is the fourth Wednesday of the month at Matheson Education at 166 South River Road in Bedford from 9:00 to 10:15 am.
Please email David Choate with preferences for 2019 breakfast sponsoring. July, August, October, November, and December are open.
There is a similar marketing meeting getting going in Massachusetts at the Salisbury Sea Glass Restaurant on Thursday 12 April starting at 5:30 pm. Please contact Scott Forte who is spearheading. Sponsorships are just 150 bucks.
30th of March is the date for a quarterly class offering 3 credits with Lynne Bagby on 1031s at the Falls Event Center in Manchester from 8:00 am to 12:15.
There is a great deal of concern about the proposal to allow for unlicensed people to operate in New Hampshire for a short period of time. What started as a move to gain more nurses in a pinch has cascaded to quite a disaster for all professions. Join on in to quash this mush.
Listings
Tony Fallon with Tony Fallon Architecture celebrated Saint Patrick’s Day by saying hello in Gaelic which translates, Jesus, Mary, and Joseph be with you.
Bob Marchewka with One Commercial has 202 Court that was once the fire station and has been a repair garage for 90 years. There is 5,000 sf and a 2,000 sf attic with parking. Showings are just once a week and the price for you is 1.25M.
Bryan Dubois with Dubois Associates has 1 Bayside in Greenland with multiple units from 400 sf to 5,000 sf contiguous for 10 dollars psf modified gross.
Scott Forte with Berkshire Hathaway Verani has 26 acres in Brentwood that was set up for a single family home development that is off market.
Ethan Ash with KW Commercial has 2,200 sf in Durham for office at $12 psf on Jenkins Court. Also, Ethan has a moving company for sale with good numbers for the good number of 300K for business and assets. The real estate might go on the block too as a separate number.
Dave Garvey with KW Commercial has a 30 unit in York that is seeing a lot of activity and is a phenomenal deal with great cash flow and it is well worth the 5.59M. Also, in Perkins Cove Dave has some retail and residential for 2.9M.
Catie Medeiros of Kane has 2,500 sf of industrial condo in Portsmouth for 309K and a downtown office or retail spot for $38 modified gross or buy it for 550K.
Russ Doyle with Two International Group has 5,000 sf and 9,100 sf for $16 NNN at 15 Rye Street.
Eve Hoefle with Two International Group welcomes you to Pease.
Justin Powers with Chapman is helping with a crisis center in Concord along with Fulcrum.
Caitlin Burke with CBRE has a listing in Hampton that is flex on the 1st floor and an office upstairs for $14 modified gross where your dog is welcome in 100 sf up to 4,000 sf. Also, Caitlin has 1,600 sf that was a chiropractic office on Winnacunnet Road in Hampton that could be retail or office for $12NNN and it has parking and signage.
Andy Ward with Colliers lauded lumber with the leasing of the former Fernald Lumber in Nottingham. One of the buildings is getting demised into 1,500 sf units that should go quickly. Also, there are 55 units of luxury condos in Tyngsborough Andy is working on.
Mark Lacoy with Allobar can still help even though deadlines are passed.
Robert Cruess with TFM/MSC has been working at the old Macy’s site on the new food capital with Whole Foods, Trader Joe’s, Fresh Market, and Hannaford all close by each. They also are working on a 6 story parking garage in the Millyard covering all engineering.
Jeff Boufford with Boyd & Boufford said that even though rates are going up with the weather, bidding can keep you even, so call Boufford to bid.
Marie Degulis with Second Wind noted that Exeter is working through a water problem.
Kevin Raymond with Optima Bank was happy to announce their 920 Central Avenue Dover office opening.
Matt Lefebvre with Elm Grove has a client looking for medical offices between Exits 5 and 7 in Nashua in the 5,000 to 7,000 sf range for purchase. They may consider leasing.
Chris Ratte with SK Lawyers has two offices in Florida too.
Robin Comstock with Somersworth Economic Development has a jail for sale.
Ray Sirois with Service Master attends to ice dam damage.
Jim Gove with Gove Environmental shared that the New Hampshire Wetlands rule changes is generating a lot of concern and rightly so.
Bill Jean with Fulcrum Associates is happy to help with the lack of inventory.
Matt Bacon with NAI Norwood has 73 Elm Street that needs some love. This service station could become a C-Store. There are now two pumps and it is full serve. They might lease but would rather sell. Also, Matt has a 1,200 sf of industrial condo for 125K with a 10 foot door that will go quickly.
Lynne Merrill with Merrill Bartlett has a hunt on for 2.5 to 25 acres on 125 from Brentwood to Plaistow. Lynne also has 35 acres for a new 220,000 sf industrial condo building.
Noah Behrend with HBL Insurance can insure in three states.
Justin Mikolyski with Creative Office Pavilion is on the Northwood Planning Board.
Julian Scala with Office Resources offers space planning for commercial and residential.
Rick Rostoff with Linear Properties is an owner operator of retail and shopping centers. They have 20 in New Hampshire and recently rebranded the former Maple Tree Mall in Manchester to the North End Shops. They are looking for stand alone retail and centers and are all cash from 2M and up to no max. See how quick they move.
Jamie Thompson with Kennebunk Savings has 6 branches and 4 commercial lenders in New Hampshire with the latest branch located in Stratham.
Lynne Bagby with Asset Preservation helps save resources right at the closing table if people forget their homework that the dog ate. They can get documents out in 20 minutes and you get a higher commission. Watch out for that slap on the back!
Mike Whitman with Bangor Savings Bank wheels the deals.
Erin Pike with Saint Germain Collins can help with the purchase of gas stations.
Jeff Brown with Cross Insurance can bring value to your friends and clients with 150 carriers.
Peter Gluckler with Masiello has a Route One Bypass redevelopment in Kittery 1 mile north of the Sarah Long Bridge going for 900K. An extended stay might be the optimal pick on these 1.6 acres. Also, Peter has two business condos that are $1,500 each modified gross with 1,000 sf warehouse lower and 9×12 doors along with upstairs office.
Beth Chea with Atlantic Capital likes franchises.
Laura Farago with Colliers has 1,500 sf of industrial at 45 Allen Street in Rochester for $7.25 NNN with 3 bays and 15 foot height. This is well maintained and was built in 2003. There is a drive-in door and an office up front.
Al Silva with Silva Graphics can help with custom shaped signs.
Barbara Lizotte with Tobey and Merrill noted the Red Cross is 1,000 units of blood behind.
Erik Crisman with Brookstone is a GC you see.
Lori Hults with Profile Bank says location is everything and your location is where they will come to help with online collection, ACH origination, and lots of other solutions.
Ute Luxem with Profile Bank shared kudos to Robin Comstock for her rapid ramp up and 160 mph mode of operation.
David Choate with Colliers has 892 and 896 Central Avenue in Dover for 1.5M where there are 3 buildings on a couple of acres that ring in an 8 cap.
Haves & Wants
Tony Fallon with Tony Fallon Architecture played off Ray’s ice dam line by sharing that increasing attic insulation can be a “twofer” by decreasing heat costs and eliminating ice dams. Do check in with your friendly structural engineer to assure the additional snow accumulation will stand up.
Bob Marchewka with One Commercial talked up Pointe Place in Dover where there are two new buildings with 50 apartments each over 1st floor commercial that so far have Edward Jones, a restaurant, a credit union, and Lighthouse Physical Therapy designed by Tony Fallon. They are looking for a barber shop or salon and there will be 150 more apartments across the street.
Bryan Dubois with Dubois Associates apprised us they do appraisals too.
Scott Forte with Berkshire Hathaway Verani has an app Jack. It helps with productivity and goal management in a snap.
Russ Doyle with Two International Group says come see 15 Rye Street and thanked Tony for the wearing of the green.
Eve Hoefle with Two International Group suggests the vanilla box helps deals.
Justin Powers with Chapman can help early on and all the way through construction.
Caitlin Burke with CBRE is working with Sola Salon on 30 spots of their 5,000 overall that will land in Strafford and Rockingham Counties. They do not need Class A and can be on the outskirts. They just need some TI allowance.
Andy Ward with Colliers has a development site in Rochester at 4 Rochester Neck Road across from 1st City with 12 acres for 500K. There is no boundary or wetlands flagged but it looks dry and TFM/MSC did a sketch.
Robert Cruess with TFM/MSC agreed to check the structure after adding insulation to dodge the ice dams man. Also, come to their CIBOR cookout on the 14th of June.
Marie Degulis with Second Wind can bring CEUs to you.
Kevin Raymond with Optima Bank says everything is possible.
Matt Lefebvre with Elm Grove has a client looking for 10,000 sf to 20,000 sf between Exits 5 and 7 in Nashua.
Matt Bacon with NAI Norwood has a buyer looking for 5,000 to 15,000 of industrial along 95 and maybe over to Exeter. They only need 5,000 and would lease the balance and may think about a 5,000 to 8,000 sf lease.
Lynne Merrill with Merrill Bartlett has 3,000 sf of Class A office in Kingston ready to go.
Justin Mikolyski with Creative Office Pavilion helps with office and residential.
Rick Rostoff with Linear Properties buys some notes from bankers.
Lynne Bagby with Asset Preservation says call her about all of the 1031 details so you don’t miss the opportune opportunity.
Laura Farago with Colliers has 1,000 sf of new retail Downtown for $13 NNN next to Nail Time and Shear Hair. This is for lease only. Some of the upstairs is for sale.
Erik Crisman with Brookstone shared that New Hampshire was second only to Massachusetts for the quantity of Irish decent descent.
Lori Hults with Profile Bank is looking for a talented retail banker to serve up the green in Rochester.
John Hall with Profile Bank had the green pants and wished all a Happy Saint Patrick’s Day.
David Choate with Colliers has a hunt for 6,000 to 7,500 sf of Class AAA office space for a financial services company.
Note from Tony Fallon Architecture: These Minutes are what I understand people to have said at this meeting. Please contact people referenced to verify and clarify.
Next Meeting is 8:30 – 9:45 am on the third Friday, 20 April 2018
In the Third Floor Conference Room of Two International Group’s Building at
One New Hampshire Avenue, Portsmouth, New Hampshire, Pease International Tradeport.
Peniel Environmental will be the breakfast sponsor.