17 July 2015
NHCIBOR
New Hampshire Commercial Investment Board of Realtors
Minutes of Seacoast Marketing Session
Geoff Merrill and Barbara Lizotte with Tobey & Merrill Insurance were the breakfast sponsors. Geoff handed out their economy class hands free cell phone solution of a roll of duct tape so you can tape your phone to your face. Geoff alerted everyone to the launch of this new law that could affect your insurance good driver discounts if you are bagged too many times as an additional consequence beyond the obvious fines. Tobey and Merrill is at 20 High Street in Hampton and serve you with a staff of 11 and a quiver of 20 insurance companies from which to select. They are a full service agency offering auto, home, life, health, and business insurance. Geoff’s grandmother was working in Mr. Tobey’s insurance agency during WWI and she suggested to her husband to seave the Amesbury wooden car body factory to join the insurance agency. The risky step at the time has paid off nicely. Geoff and his brother are the third generation of Merrills managing the business and the Tobeys were bought out some time ago. Geoff says getting fitted for the right insurance is as important as getting fitted for the right set of golf clubs. Buying online for either is loopy. Come on in for a custom fit insurance package that will grow with you.
Cash Buyers
Tony Fallon with Tony Fallon Architecture explained his casual attire saying it fit with the summer office of Hampton Beach where he is working out of the family beach house where the Hampton River meets the Atlantic. Tony’s grandfather started the Rexall Drug Store on the block South of the Casino in 1926 and his family has enjoyed buying their commercial insurance from Tobey and Merrill over the years.
Bob Marchewka with One Commercial has a cash buyer looking for a strip center with a grocery store within an hour of Portsmouth. They may do a portfolio of properties and will spend up to 10 million dollars prior to the end of 2015 for this 1031 shift.
Maxine Kenny with Colliers has returned from her California stint and is looking for a net lease credit tenant investment in the 5 to 15 million dollar range in the retail, office, or industrial uses.
Ken Berry with Berry Engineering provides licensed surveying, professional engineering, and erosion control services with their family business that has been around for 50 years. They are busy, busy and have the 3 person crew slammed with work.
Beth Chea with Wells Fargo spoke of the benefits of insurance by relaying a story of a company that closed for two years and then took ten years to rebuild because of too little insurance.
Tad Dziemian with Neighborhood Energy from Hampstead, New Hampshire helps you optimize energy with lower costs from their choice of 9 suppliers.
Ralph Pope with Coldwell Banker has a hunt on for 3,000 to 5,000 sf of Class A office space that does not need to be high visibility. They are flexible on timing.
Tia Hagan with Regus serves up fully furnished offices with some staffing in a turnkey fashionable fashion. They offer a 10% commission and have an additional special of a 200 dollar Amex gift card. Send or bring them on over to the 2nd floor of 170 Commerce Way.
Kyung Kim with Howe, Riley, and Howe is happy to have been the first tenant in Regus’ space. Their 50 person office in Manchester used Regus for their new beachhead in Portsmouth.
Michael J. Farinola, Certified General Appraiser Licensed in New Hampshire & Maine, is seeing appraisals running at 4 weeks for turnaround.
Corey Colwell with MSC and TF Moran is Tia Hagan’s downstairs neighbor at 170 Commerce Way. They offer civil, structural, planning, landscape architecture, and traffic studies. Corey has a client looking for a couple of acres for a residential development in the Rye, Greenland, or Stratham areas.
Art Bonin with A R Bonin Companies has a party from New Hampshire looking for triple net lease opportunities that they can own in the form of pharmacies or gas stations across the USA. They prefer “new to the market” sites.
Don Spann with Remax Commercial has a number of listings at the former Brunswick Naval Air Station and joined us for the first time.
Bob Rocheleau with MRRA is managing the redevelopment of the former Brunswick Naval Air Station into Brunswick Landing, Topsham Park, and Brunswick Executive Airport. They are offering up 3,135 acres and 1.7 million sf of space to the lucky agreement signers. They do not have as large of a contingent of defense department employees remaining at their facility as there is at Pease with only one person in this role. For reference, Pease Tradeport has 4000 acres and 2 million sf of space to suit. Bob is a UNH grad and played varsity hockey there as a defenseman.
Al Silva with Silva Graphics signaled his facileness with signs for facilities.
Mary Ellen Humphrey with Durham Economic Development noted they have four major student housing construction projects rapidly wrapping up.
Jeff Brown with TD Bank reminded us that TD Bank is back in the investment real estate game bringing the power of a big bank to your delightful deals.
Adam Johnston of Bank of New England joined us for the first time with his new Bank of New England jersey on. He didn’t reveal details of his free agency negotiations but is happy to be with Bank of New England. Adam is also happy to look at your value add distressed deals and can easily lend to 13 million with the ability to go above that. Adam has a client in Maine looking to pick up a larger multi-family property in New Hampshire, Southern Maine, or Northern Massachusetts.
Marie Bodi with CP Management is a third party property manager properly performing to assure you profitability sans headaches.
Kathy Rush with Berkshire Hathaway Verani thanked Tobey and Merrill Insurance for sponsoring the MJ Rush Foundation for Children golf fundraiser that is in memory of her son.
Vince Chestnut with Alpha Locksmith brings professional security to your door directly.
Sam Glasgow with King Real Estate joined us for the first time from his Old Orchard Beach office.
Jack Mannix at EndPoint Environmental keeps your dirt clean.
Larry Zellers with Portsmouth Computer & Copy helps with copiers, computers, and printers and helps you be proactively protected insuring more continuous operation.
Sheryl Watson with CTI sounded confident with their ability to help your sounds travel over the wires. Call them for help with voice, data, and network details in Maine, New Hampshire, and Massachusetts.
Jerry Bazata with Newburyport 5 Cents Savings Bank will help not only borrowers prequalify but they will help properties prequalify to help things pop promptly.
Doreen Austin with Northeast Credit Union is a statewide institution that can lend in York County too.
Justin Avery with New Hampshire Department of Resources and Economic Development (DRED) provides an economic modeling software to help investors and incoming companies with site selection.
Ute Luxem with Profile Bank allowed that the rates, they are headed in an upward direction. Sign on up while we are circa 5%!
Peter Gluckler with Masiello Better Homes and Garden Real Estate has one cash buyer looking for 1 to 2 acre lots for retail.
Kiersten Gerow with Exchange Authority helps with 1031 exchanges from her Leominster, MA base. Kiersten has a background as an appraiser and an attorney so give her a ring for experienced and able navigation.
Dave Garvey with KW Commercial has a hunt on for land suitable for multi-families in the 100 to 150 unit range within 10 miles of Portsmouth. For another party, Dave is seeking 150 to 250 unit multi-families anywhere in New Hampshire.
Geoff Merrill with Tobey and Merrill Insurance can also help with group health insurance in a healthy manner.
David Choate with Colliers has a buyer looking to buy 5,000 sf of freestanding industrial between Exeter and Manchester
Announcements
The statewide NHCIBOR marketing meeting occurs on the 4th Wednesday of the month from 9:00 to 10:15 at 166 South River Road in Bedford.
All the slots for breakfast sponsorship are filled for this year and next year there are 7 slots open.
On 28 August 2015 from 8:30 am to 12:15 pm at the Seacoast Board of Realtors there is a core course featuring Neil Barrett.
Bob Marchewka announced that NECPE is getting tied into the State of New Hampshire’s system to automatically update the latter. Bob also spoke of another tool (RPR) that the National Association of Realtors is offering that provides a lot of good demographic tools.
Jeff Hiatt with Performance Business Solutions is offering a broker safety course at the Granite State Indoor Gun Range. These two hours and two credits are free and are not gun based defense. However, there is some time afterwards for those who want to enjoy the venue. There are a number of these sessions being offered.
Adam Johnston spoke about the great participation in NHCIBOR Cares this year with the 6 thousand dollars raised and the good publicity in the Union Leader as well as the New England Real Estate Journal.
Listings
Tony Fallon with Tony Fallon Architecture is working with a Chicago based architect on a 3000 sf tenant fitup to Wayside Commons in Burlington, Massachusetts. Tony also has designed a 1500 sf Mexican takeout restaurant in Hampton at the Surf and is working with the same owner on a possible redevelopment of the former Happy Hampton on the corner of A Street and Ocean Boulevard next to the Surf.
Bob Marchewka with One Commercial is going to have a 650 or 750 sf office become available on The Hill in Portsmouth in August or September.
Maxine Kenny with Colliers has a new high bay offering of 6908 sf at the former Portsmouth Paper & Jump On In site. This 18 foot clear height space has 4500 sf of warehouse with no docks or doors but the possibility of the same. There is full HVAC and the rate is 7.50 dollars psf NNN.
Ken Berry with Berry Engineering recently hired Ben Clark of True Site Media who used to be with the City of Dover Engineering Department. Ben brings a variety of new skills to Berry. They are working on the Paolini project on Dover Point with 6000 sf of office in front of some residential.
Beth Chea with Wells Fargo offers fixed rates for 25 years on the private side to run with the fixed rates the SBA offers. Exit the fix you are in with their fixed rates!
Russ Doyle with Two International Group has some more affordable offerings that are in the 15-17 dollar psf range at 200 International Drive on the second floor. You can get up to 13,000 sf there of nice space at an affordable rate.
Tad Dziemian with Neighborhood Energy says that the warmth of the summer is something you want to lock in now with great rates in energy. They are getting rates 20% to 30% better than last winter in current deals.
Ralph Pope with Coldwell Banker has a retail/residence/warehouse offering at 200 Drakeside Road in Hampton.
Tia Hagan with Regus has a couple of offerings that they are trying to particularly move that offer compensation of 10% plus a 200 dollar Amex card and another 500 dollar Amex card.
Kyung Kim with Howe, Riley, and Howe can help with outsourced accounting, bookkeeping, CFO services, and help with the nuances & needs of high net worth families.
Peter Kiriakoutsos with Howe, Riley, and Howe shared that they can help with recommending how best to set up your LLC so it is most advantageous for taxes. Although you might not think of it, there are a lot of choices in LLCs such as single member, multi-member, grouping, and multi-entities. Unitary filings can help too and groupings can cross state lines. Call Captain Peter to help navigate!
Michael J. Farinola, Certified General Appraiser Licensed in New Hampshire & Maine, is offering up a couple of his multi-families. There is a 4 unit in Rochester and a 5 unit in Farmington.
Corey Colwell with MSC and TF Moran highlighted the lightning quick approval process that they delivered with the new UPS building in Londonderry at the Manchester Boston Regional Airport. This 613,000 sf building that brought 400 new jobs and has 400 parking spaces took 60 days to get permitted versus what would have typically been a year.
Art Bonin with A R Bonin Companies has the former Coca Cola bottling plant on Route 28 in Salem that is now 45% leased and offering full real estate commissions. These units that are available could be retail, warehouse, or distribution and maybe a Dick’s Sporting Goods might be a good fit. And the biggest sleeper that Art has just got a great price. 9 acres in Newton, New Hampshire that are assessed for 1.1 million is on the market for 495 thousand dollars. There are upstairs offices and 9 bays of garages on the first floor. The zone is commercial but it can be residential/commercial. There is 3 phase power and individual HVAC. This is a phenomenal deal!
Don Spann with Remax Commercial Riverside has the former Brunswick Navy Exchange at 50,000 sf that has so far a hair salon, medical office, garden store, and department store that are going for 6 dollars psf. There are a couple of loading docks and the ceilings vary from 18 feet to 22 feet clear height. There is 3 phase power and the breakdown of space works well with 10,000 sf chunks in this location close to Route 1 and I 95. Don also has the 12,000 sf former police station for sale which is going for 649 thousand dollars or 5 dollars psf. This offering also has fee simple land versus a land lease.
Bob Rocheleau with MRRA thanked Don for the kudos on how fast the redevelopment is going with his guidance. Bob also noted another great offering they have which is their best industrial building which covers 35,295 sf and is going for 6 dollars psf NNN. It includes a ten ton gantry crane, welding booth, blasting booth, paint booth, 16 overhead doors, and direct access to the airfield. Bob thinks this will all go under agreement this year. The whole campus recently got switched to LED lighting which has saved 60% on the meter spin.
Mary Ellen Humphrey with Durham Economic Development says if you have a listing in Durham to let her know so she can help you find your customer.
Jeff Brown with TD Bank is happy to help you and to help other banks with partnering.
Adam Johnston with Bank of New England helps with commercial real estate. He is happy to consider a spec deal and navigate strategic needs.
Marie Bodi with CP Management manages commercial and residential in Rhode Island, Boston, Northern Massachusetts, Southern Maine, and all of New Hampshire.
Kathy Rush with Berkshire Hathaway Verani has a 500 sf and a 1000 sf office available in her building in Hampton on Route 1.
Vince Chestnut with Alpha Locksmith does residential and commercial locks you look at.
Sam Glasgow with King Real Estate has 15,000 sf at a plaza at exit 9 where they hope to land a grocery or dollar store for 12 dollars psf NNN.
Jack Mannix at EndPoint Environmental can plug those leaky gas tanks cleanly.
Larry Zellers with Portsmouth Computer & Copy has a 100 dollar off, zero percent, and 2,000 rebate deals on a variety of deals.
Sheryl Watson with CTI helps with your technical communication like cloud, voice, and data. They can move fast and show you the pros and cons.
Jerry Bazata with Newburyport 5 Cents Savings Bank shook up the meeting with laughter again by encouraging those with the stagnant warehouse offerings. In his side business of being a DJ, Jerry just got the word that a bride changed the venue for the third time in a year. After becoming disenchanted with the two successive venues, the father of the bride bought a warehouse and is going to create a customized wedding venue just for his daughter’s wedding. Jerry says if you have a languishing warehouse or industrial offering, take out an ad in Bride Magazine!
Doreen Austin with Northeast Credit Union is not new to lending and can do from 50 thousand dollar to 17 million dollar loans.
Justin Avery with DRED says if you have a client on the fence about coming into New Hamsphire to call him up to hook them in.
Ute Luxem with Profile Bank offered up the bank’s offering of land next to their Somersworth branch. These 2 acres are at flexible terms and pricing.
Joe Friedman with Brooks Properties offered up a more traditional wedding venue of Brookstone Park with dance floor, lighting, golfing, and a pretty pond. Joe also shared three offerings they have at the recently redone Exit 2 in Salem off of I-93. They have 50,000 sf, 30,000 sf, and 4,000 sf there ready for you.
Peter Gluckler with Masiello Better Homes and Garden Real Estate has 1500 sf for lease in Kittery adjacent to Subway and across from the Kittery Trading Post that is going for 2400 dollars per month with 1000 per month for the nets. Peter also has 27 acres in South Berwick that is going for 175 thousand dollars, a steal. Probably 6 homes could be built and maybe more if you give a conservation easement.
Kiersten Gerow with Exchange Authority helps with 1031 exchanges and capital gains management. Brokers can reap two commissions from the selling and buying of two different assets with one of these exchanges.
Dave Garvey with KW Commercial has a 9 unit with 3 commercial pieces that is a true 9.9 cap. It was going for 1.4 million and is now set at 999 thousand dollars. There are some steady eddy tenants of 15 years duration. Dave also is selling or leasing the Kokopelli Southwestern Jewelry building in Ossipee, New Hampshire on Route 16. These 12,000 sf are assessed at 1.34 million dollars and is on the block for 775 thousand dollars. There is retail, office, and storage space with lots of racking for retail.
Barbara Lizotte with Tobey and Merrill Insurance said that there are also tax ramifications for how you set up your insurance that they can help with.
Geoff Merrill with Tobey and Merrill Insurance rolled out their brand new wedding venue in a warehouse insurance policy. Talk about responsive!
Laura Farago with Colliers has a warehouse in Rochester that would be picture perfect for your next wedding or storage use. There are 3 overhead doors and one larger bay with this 4,323 sf offering. There are also 20 foot ceilings and two baths at Norm Vetter’s Foundations former business base that is going for 5 dollars psf modified gross.
David Choate with Colliers has 6B Roberts Avenue in Portsmouth across from Heritage Commons that is 4,575 sf of warehouse/office (and includes 1100 sf of mezzanine storage) with 25 feet at the peak and 17 feet at the eave. The asking lease rate is $7.00 NNN.
Haves and Wants
Tony Fallon with Tony Fallon Architecture submitted a proposal to help with 3D modeling and visualization for an industrial expansion to assist with environmental assessments.
Bob Marchewka with One Commercial is looking for an industrial building in the 5,000 to 15,000 sf range or land anywhere south of Portsmouth to the Massachusetts line that would allow the building of such a building.
Maxine Kenny with Colliers has the listing for a new restaurant space to be built on the Cocheco River in Dover at 100 First Street. This 8200 sf of space will have a patio overlooking the river with 32 residences above for built in clients. This gorgeous spot is going for 19.75 dollars psf NNN.
Beth Chea with Wells Fargo is an SBA lender and can also help with home improvement financing.
Russ Doyle with Two International Group has someone looking in Hampton for some office space that is a Regus type of offering.
Ralph Pope with Coldwell Banker has a new cadre of multi-family buyers looking for the 5 to 50 apartment sites.
Tia Hagan with Regus shared their virtual and small office offerings that go from 60 dollars to 300 dollars per month. Come on in for a custom fit!
Kyung Kim with Howe, Riley, and Howe serves a lot of small business clients, vets, rentals, restaurants, bakeries, marketing agencies, manufacturers, massage therapists, and the like are some of those she helps. They try to respond quickly.
Corey Colwell with MSC and TF Moran thanked all who attended the annual NHCIBOR BBQ and noted that they will be hosting a similar event for the Manchester Chamber on 20 August 2015.
Art Bonin with A R Bonin Companies has a new listing of 1.8 acres on a major state highway with 30,000 cars per day and 4 curb cuts as well as all utilities. The land is for sale but they would rather lease it. Art has been working with the former Seabrook Dog Track and they almost landed Rand Whitney who wound up going to Mast Road in Dover with Stonewall Kitchen and Brazonics.
Don Spann with Remax Commercial Riverside has plenty of land and buildings from 5,000 to 100,000 sf at Topsham Commerce Park and Brunswick Landing
Bob Rocheleau with MRRA has as Swedish company coming in that is going to wind up with a 50 million dollar facility. MRRA was able to help with the deal by doing some bonding. They have 67 businesses there already and 16 companies with 3 more coming on board.
Al Silva with Silva Graphics says when you call to say your sign fell down he can usually catch it before it hits the ground.
Mary Ellen Humphrey with Durham Economic Development says the ATO site will be further along by next month’s meeting. Mary Ellen climbs Mount Major once a week and has done so 500 times.
Jeff Brown with TD Bank climbs the back side of Mount Major with his dog so the dog can run free.
Marie Bodi with CP Management noted that the note taker Tony Fallon had donned the attire of Tobey & Merrill’s jingle about sandals, “You’re overdressed if you are not wearing sandals!” Marie also alerted us to the patent and 1031 legislative alerts that NHCIBOR distributed.
Vince Chestnut with Alpha Locksmith can help with rekeying the redoing of offices from large to small and small to large.
Larry Zellers with Portsmouth Computer & Copy said to call them when your screen goes blue to get them to resuscitate your digital gerbils.
Jerry Bazata with Newburyport 5 Cents Savings Bank spoke glowingly of the fireworks show he was DJ for at Ogunquit Beach.
Doreen Austin with Northeast Credit Union is on the NHCIBOR membership committee and encouraged non-members to get with the “in” crowd.
Justin Avery with DRED says to call on him to help you bring them in.
Ute Luxem with Profile Bank donned her Durham Economic Development hat and noted that there are 100,000 sf available at the Goss building with lots of parking going for 8.95 dollars psf.
Joe Friedman with Brooks Properties has 50,000 sf in Hudson going for 80 dollars psf purchase.
Peter Gluckler with Masiello Better Homes and Garden Real Estate has a price reduction from 1.8 million to 1.5 million dollars at the Cape Neddick Inn restaurant that grosses 900K annually for dinner only. Peter also has an Eliot, Maine 55 and over development for which he is seeking a developer/operator of assisted care and nursing home facilities to set up such on site.
Kiersten Gerow with Exchange Authority again asked people to defend the 1031 attack in Congress.
Barbara Lizotte with Tobey and Merrill Insurance is on the way to find her sandals and has benefited greatly from becoming a NHCIBOR affiliate member.
Geoff Merrill with Tobey and Merrill Insurance touted the New Hampshire Fisher Cats as a good family venue with many sideshows including fireworks. Tony Fallon designed and arranged for the construction of the manual scoreboard there.
Laura Farago with Colliers has a listing next to the Rochester Courthouse that is going for 179 thousand dollars, is bright, and has the original tin ceilings.
David Choate with Colliers has 4,000 to 6,000 sf of office space in Portsmouth and the former USNH buildings on 16+ acres at 15 and 25 Concord Road in Lee just west of the Lee Circle. The zoning does not permit residential. It must remain commercial.
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 8:00 – 9:45 am Friday 21 August 2015 at
One New Hampshire Avenue, Third Floor Conference Room
Pease International Tradeport
The sponsor will be Martini Northern Construction