February 2014 Seacoast Marketing Meeting Minutes

21 February 2014 NHCIBOR New Hampshire Commercial Investment Board of Realtors Minutes of Seacoast Marketing SessionChris Prior with EnviroVantage was the breakfast sponsor.  David Choate had occasion to sit near the fish that is thrown on the ice at UNH Hockey after the first goal and noted that if there isn’t a score in the first period, the odor factor is high.  Chris shared what they do and don’t do.  EnviroVantage can refer to testing agencies to ascertain if there are any hazardous materials present but EnviroVantage does not do the testing.  If there are adverse materials afoot, EnviroVantage is fleet of foot in the feat of removing the lead, mold, mildew, asbestos, PCB, mercury, and all things scary or fishy.  EnviroVantage received kudos from a number of those present and I have had a good experience with them also.  EnviroVantage is also one to think of for general and selective demolition.  They can take away not only scary things but the non-scary.  Also they can isolate the area of removal from ongoing operations so as to minimize noise, dust, and dirt distractions. Cash BuyersTony Fallon with Tony Fallon Architecture cheerfully serves up Architecture for new as well as renovations and additions in both the commercial and residential arenas.  Hockey is fun!Nina Cutts with Institution for Savings announced her jump to this new ship.  Nina is delighted with the 1.6 billion dollar size of the new bank.  They have money to lend at great rates and are hoping to lend lots of dollars for commercial deals.  Nina offered to play the violin for the next meeting but deferred on other entertainment requests.Robert Baldwin with STF Development has a buyer looking for a long term, one tenant, NNN lease in the Seacoast of New Hampshire or nearby in Maine or Massachusetts.Doug Frizzell with UBS has been coming to these meetings for 10 years now and would be delighted to work with you to protect your IRA or 401K by rolling them over into investments that are government guaranteed making the only way to go be up.Maxine Kenny with Colliers has a multi-family buyer in the 2 million dollar range for deals that have a positive cash flow, any number of units over 4, and are located in New Hampshire, Maine, or Massachusetts.Andy Ward with Colliers has a wider area under consideration for the age restricted multi-family.  They will now locate in Southern New Hampshire, Northern Massachusetts, and Western Massachusetts.  They prefer sites with municipal sewer, but will consider sites that need septic systems.  The building contemplated is a 50,000 sf footprint with 3 stories for a 150,000 sf building in total.   James Schwartzkopf at North Branch Construction is facile with projects from 1 million to 60 million dollars.Carol Estes with Optima Bank noted that Optima is the fastest growing bank in New Hampshire and is happy to help you and yours with commercial loans.Ralph Pope with Coldwell Banker is looking for a 2000 sf Class A site for a cremation business that includes a display area.  They prefer a stand alone set up and hope to do a purchase down the road.  The search area is Dover and the price is whatever.Russ Doyle with Two International Group has a host of beautiful offerings at Pease and in pretty downtown Portsmouth.Jim Schwartz with Jewett Construction noted that Jewett Construction has been up and running since 1972 and launch out of Raymond each morning to serve in construction.Ben Baroody with Baroody Real Estate has a cash buyer that might be interested in something Coach Fred Attalla has listed.  Ben has enjoyed attending these Seacoast Marketing Sessions and introduced us to his new associate, Linda DiSilvestro.Linda DiSilvestro with Baroody Real Estate had been in real estate some time ago in Arlington, Massachusetts and, with her husband, is returning to the business.  Joe Friedman with Brooks Properties has cash buyers looking for food processing facilities that are a minimum of 15,000 sf, are in Southern New Hampshire, and close to I-93.Marc Carbonneau with Georgetown Bank has money to lend for commercial projects in Southern New Hampshire or Massachusetts.Jamie Clifford with Georgetown Bank focuses on residential lending for Georgetown Bank and with that assists with condo developments as well.Mary Ellen Humphreys with Rochester Economic Development has lots of services that she can help brokers with in moving their listings including placing them on their website.  Mary Ellen will also shepherd applications through, Planning, Zoning, and Building Permits to keep the sailing smooth.Bob Viel with Remax Insight loves, loves, loves distressed single or multi-family properties with leaky roofs, leaky pipes, mold, mildew, lead, PCBs, asbestos, and structural failure.Al Silva with Silva Graphics serves up signs, printing, reprographics, and wraps.Ben Langlois with President Construction recently signed deals for two more bank projects.  They are doing Eastern Bank in Plymouth and the Lynn corporate office redo. Susan Miltner with Seacoast Business Machines sells and services sharp and Xerox multi-function machines.  They have grown a lot and gained many clients from attending these meetings over the last 10 years.  It has helped a lot.Don Marshall with Marshall Associates is a business broker who can guide properly through the landmine of due diligence one finds in transferring businesses.  Don assists owners with proper pricing and smooth navigation.  Welcome back, Don! Marie Bodi with CP Managementmanages all property types with offices in Portsmouth, Exeter, Lebanon, and Providence.  Got headaches?  Marie wants them!Alec Tarberry with WS Development buys, sells, and operates shopping centers.  WS is always in the market to buy shopping centers that can use some sprucing up.  They own and operate Market Street in Lynnfield and do ground up shopping centers now too.Bill Cormier with Hourihane Cormier Realty from the shining starlet of the Seacoast (Rochester) has a small financial institution that is looking for a tiny spot in downtown Portsmouth.  Maybe a bank might allow a kiosk in their lobby?!Andrew Shakely with Nutec Corp provides full service architectural and engineering services and can assist with quick visualizations of layouts.Christine Soutter with City of Somersworth Economic Development focused her comments on downtown Somersworth with a new round of 79E tax incentives that allow owners to fix up properties and have the assessed values remain at pre-improvement status for five years.  Christine also mentioned that there are some places for sale that aren’t listed such as Labelle Bridals and other great opportunities.John DeStefano with DeStefano Associatescan assist with all phases of construction, from feasibility to occupancy.  Some recent projects are the Portsmouth Music and Arts Center (PMAC), a restaurant downtown, and a restaurant at Southgate Plaza that has a former train car as the setting.  John introduced Scott Stevens and Steven Mallory of Groundroot Restorations of Cape Neddick, Maine.Scott Mallory with Groundroot Restorations can assist with all historic structures and determine what they are and how they evolved as well as how to properly fix.  They can also guide with historic adaptations.Steve Mallory with Groundroot Restorations let us know that they can guide owners through historic tax credit applications and assist in determining what level of historic certification is worth pursuing.  Groundroot can assist with identifying the character defining features and work in both residential and commercial projects.Bryan Dubois with Dubois Associates Real Estate and Dubois Appraisals has a cash buyer for self storage with retail type locations.  The size preferred is 60,000 sf and above and they will buy existing or build.John Konevich with Alliance Capital Funding lends to the industrial and commercial borrowers from a nationwide network of banks and non-banks.  Alliance can do private and government guaranteed loans, C & I, and hard money.  Also Alliance has a line on stated income loans which are making their way back into the market.Sean Burke with NBT Bank provides loans for commercial real estate in the Portsmouth and Northern Massachusetts areas.  He likes to help buyers with loans.Ray Dugdale with BDC Capital & CDC does one of the highest volume 504 lending in New England.  With their two companies, they have some unique tools to help things come together.Nick Aube with Avery Insurance has you covered with coverage. Jay Comstock with Real Property Management services both residential and commercial real estate and seeks to acquire property management accounts from brokers who would rather focus more on sales and leasing.  Eric Stone with Stone & Stone is getting into development and just bought a mixed use building in Sanford.Wendy Rayno with People’s United Bank focuses on Portsmouth and the Seacoast providing for any lending needs.Ute Luxem with Profile Bank is a commercial lender serving the Seacoast and Southern Maine.Bill Jean with Fulcrum Associates offers up GC and CM services from their Amherst location.  They do projects in New Hampshire, Southern Maine, and Northern Massachusetts.  They have a development partner looking to do new gym concept that needs a 15,000 to 20,000 sf building, 22 foot clear height.  The target is older buildings ready for repositioning in the use sense.  They get to stay in the same location.Chris Prior with EnviroVantage brings the guys in the white suits when your building is feeling a little crazy.David Choate with Colliers has a party who wants to buy 3500 sf of industrial space in Portsmouth.  They have seen all the listings, so just contact David if something is not listed.  Going up to 5000 sf will work and they need a drive-in door.AnnouncementsThe 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. On 7 March 2014 there is a quarterly presentation for licensees at SERESC  in Bedford on Commerce Way.  The topic is how to be a licensee and stay out of jail.  David Choate and Ralph Pope went to a similar NHAR presentation and the big complaint is insufficient broker supervision of his/her licensees.The NHCIBOR networking opportunity at the British Beer Company in Portsmouth has been rescheduled to 13 March 2014 from 5:30 to 7:30.  NBT Bank is the sponsor.August is the only available breakfast sponsorship for this year.Bill Jean reported that the affiliate membership is up 14%.ListingsTony Fallon with Tony Fallon Architecture is participating in transitional housing for homeless vets in Ossipee at the former Carroll County Nursing Home which is now vacant.  This project entitled “Starting Home” will provide training and short term digs to assist vets with deploying to life.  The non-profit organization is still organizing and waiting for its 501(c)(3) tax exempt number.  Please let Tony know if you or yours are looking for write offs to off load cash to and gain lower taxation.  Please contact Tony Fallon or Dorothy Solomon at litlady@ncia.net for more information.Nina Cutts with Institution for Savings is commercially orientated and noted that this is heart health month.  Nina learned that the biggest thing one can do to help with heart stuff is to reduce stress. Robert Baldwin with STF Development does a lot of redevelopment in Dover.  Any building, large or small warrants a call.Doug Frizzell with UBS assists with complete financial planning and has some incredibly credible programs.Maxine Kenny with Colliers has 2 suites available in downtown Dover.  One has 610 rentable sf and another 1860 rentable sf in this building where the Barley Pub recently closed.  23.25 dollars psf is the rentable gross.Andy Ward with Colliers has a 2006 industrial building with an office component for 4.50 dollars psf NNN with nets at 2.13.  This Rochester location can be purchased for $1,270,000.James Schwartzkopf at North Branch Construction can start bringing benefits with pre-construction estimating.  They have found EnviroVantage to be a professional organization.Carol Estes with Optima Bank noted that there is some legislative back and forth for some requirements with 504 that required tying up personal resources.Ralph Pope with Coldwell Banker shared that the Town of Greenland has no public sewer system and that fact has not held them back from gaining an ERZ Zone.  Ralph has had a tenant default on the 2400 sf of high bay space that he has in Greenland that is immediately available and going for 1700 dollars per month.  Ralph also has 1,800 sf for lease there too.Russ Doyle with Two International Group has the former Air Force Chapel for lease.  This funky cool space is now, and could be, another medical office.   This 19 Rye Street location has 8500 sf.Jim Schwartz with Jewett Constructionnoted that Jewett has relationships with 3 pre-engineered metal building companies and has its own steel erection crew.  They just built a 20,000 sf boat storage building in Maine. Ben Baroody with Baroody Associates has a funeral home in Candia on Route 47 downtown.  This can be sold with or without the business and has an outdoor pool.  Ben also has a food processing plant.  The current owners needed more space and just bought another building.  This plant is 2 minutes from 101 and 293.  The equipment includes 3 walk in coolers and freezers can stay.  They want to get rid of it quick.Linda DiSilvestro with Baroody Associates has 3 commercial spaces that are from 2000 sf to 6000 sf.Joe Friedman with Brooks Properties let us know about some recent activity with Brookstone Park in the heart of Rockingham County, about a half hour from Exeter.  They recently leased space to a Charter High School and still have plenty to lease with free golf for any lease.Mary Ellen Humphreys with Rochester Economic Developmentannounced another round of prizes and contests for business startups.Bob Viel with Remax Insight has 83 Charles Street in Rochester that is going to close soon due to a divorce.  They will do lease, lease to buy, or buy and are going to shut things down at the end of February.Al Silva with Silva Graphics helps with signs and printing, tri-folds, calendars, and business checks.Ben Langlois with President Construction provides GC and CM services for interiors and office fitups of any size.Todd Prescott with Berkshire Hathaway Verani has a former medical office that recently went through a price drop of 40K and landed at $299,900.Don Marshall with Marshall Associates from Exeter is seeking to help with transitions for any business of any size with a positive cash flow.Marie Bodi with CP Management wants to redo a building in Portsmouth by taking off aggregate panels and installing metal panels.  Calling all contractors!Laura Farago with One Commercial Real Estate noted that they have a building on The Hill in Portsmouth with a 400 sf office that comes with a parking space, all for 750 dollars per month.Alec Tarberry with WS Development has leased up most of the plaza in North Hampton although there is a 5000 sf restaurant pad site.Wes Tator with NH Real Estate has 2000 sf near the Herbal Path in Dover and is looking for 5000 sf for a restaurant anywhere on the Seacoast.Bill Cormier with Hourihane Cormier Realtyhas been in business for 42 years.  Bill has two properties that banks own that had been looked at for operations and are not needed any more.  One is in Rochester and the other is in Somersworth.Dave Garvey with KW Commercial has 10 acres on 125 north of the Lee Circle that will probably fit a 15,000 to 20,000 sf building on it.  This lot has 3 phase power available and is going for 215 thousand dollars.Andrew Shakely with Nutec Corp helps with architecture and engineering for industry, food and beverage, and life science projects.Christine Soutter with City of Somersworth Economic Development let us know that they are having some RFPs coming up for the parking plaza the city owns in the downtown area.John DeStefano with DeStefano Associates listed some projects they are involved with that have some space for lease.  In Epping, there is 5000 sf near the 101/125 intersection.  There is 30,000 sf available at the Southgate Plaza in Portsmouth and, in Methuen Massachusetts, they have 25,000 sf left to lease.  They have projects in Seabrook and Rochester too.Scott Stevens with Groundroot Preservation noted that often the town has the most restrictions for historical preservation.Steven Mallory with Groundroot Preservation let us know that they have been able to move some buildings that were listed and not getting any offers.  For one property, after the owners came to them for help, they got the word out and within two weeks had a full price offer with two backups.Bryan Dubois with Dubois Associates Real Estate and Dubois Appraisals has the middle unit available at 1 Bayside Road that is coming to market.  Bryan also has a small single family that is bringing in $1500 per month and is an 8 cap.John Konevich with Alliance Capital Funding assists owners and buyers with commercial and industrial as well as general purpose and single purpose. Jay Comstock with Real Property Management does not do sales and so when the owners are ready to sell assets, Jay will send them back to you.Eric Stone with Stone & Stone recently bought 20,000 sf in Sanford that is going for 2 dollars psf and has 13 foot ceilings.Wendy Rayno with People’s United Bank has somebody looking to stay in Portsmouth and are looking for 3000 sf and 1 to 5 bays for industrial.Ute Luxem with Profile Bank put on her Durham Economic Development hat and let us know that, as part of one of the student housing deals in Durham, a barn is offered for free to whomever will come take it apart for rebuilding somewhere else. Bill Jean with Fulcrum Associates is celebrating their 26th year in business and thinks their best value is early on helping with pro forma.  They’ll help with redevelopment and ground up.Chris Prior with EnviroVantageshared that they bought a demolition robot that can do the work of 10 guys and takes up the size of one table.David Choate with Colliers has a listing in Somersworth that currently has Mortgage Specialist as the tenant. This 5,000 sf footprint, which has 7,750 sf on two floors and a full basement, would be a great bank location.  Lease rate is 22 dollars psf NNN and $1,800,000 for sale.  There is a large sign that could probably be replaced with the same size.Haves and Wants Tony Fallon with Tony Fallon Architecture is good with more than minutes.Nina Cutts with Institution for Savings provides construction loans and owner occupied, commercial loans, Robert Baldwin with STF Development is looking in Exeter, Lee, and Epping for land for development or land with approvals approved.David Choate with Colliers thinks Exeter Road in Exeter is taking off.Maxine Kenny with Colliers has the 10,400 sf Temple Israel in Dover for sale with 21 acres for 735 thousand dollars.  It is also for lease at $5.00 plus utilities. Andy Ward with Colliers has a 3,075 sf space left at Plaza 800 that he wants out the door with somebody coming in the door.  14.75 dollars psf NNN with 3.71 nets.James Schwarz with Jewett Construction builds municipal, commercial, industrial, manufacturing, and food processing.Ralph Pope with Coldwell Banker has 20 units in Rochester on South Main Street for $1,095,000 and $1,600,000 for 14 units.  Ralph also has a corner lot on Route 125 in a high traffic area with two acres at a lighted intersection. Russ Doyle with Two International Groupthanked Maxine Kenny and Andy Ward for jobs well and enjoyably done on two recent leases.Jim Schwartz with Jewett Construction offers design/build, GC, and CM from their Raymond epicenter.Ben Baroody with Baroody Associates has some downtown Manchester office locations along with a couple of pocket restaurant listings.  Each restaurant grosses a million bucks annually.  Glorious!Linda DiSilvestro with Baroody Associates has a Chinese restaurant operator with 4 restaurants who is looking for one in the Portsmouth area.Joe Friedman with Brooks Properties covers the I-93 corridor south of Manchester with office and industrial space including some new office under construction.Marc Carbonneau with Georgetown Bank would love to talk about wheeling up some dough to your commercial or industrial location whether it’s owner occupied or not. Jamie Clifford with Georgetown Bank is in the same office as Marc and serves up jingle for residential and condos.Mary Ellen Humphreys with Rochester Economic Development talked up the Seacoast’s up and coming Rochester where there is a lot of great stuff going on.Bob Viel with Remax Insight has 2.17 acres just off 108 where there is a foundation for a 50 x 70 foot building.  This is a multi-zoned lot that was permitted for a crematorium and is yours for $95,500.Ben Langlois with President Construction serves up GC and CM from Danvers, Massachusetts.Susan Miltner with Seacoast Business Machines will help save you money on color copies and help organize your document flow with no draino.Don Marshall with Marshall Associates brokers businesses from Boston to Montreal.Marie Bodi with CP Managementlet us know that David Choate recently received an award from Colliers.  Marie remembers the beginnings of this Seacoast Marketing Session that was sparse and Spartan.  David chimed in and shared that the Boston region of Colliers is doing very well in their worldwide operations with 4 or 5 brokers beating out others in New York and Los Angeles and London.  The top Colliers producer in the world is Boston’s Ron Perry who used to play basketball for Holy Cross. Laura Farago with One Commercial has a 7200 sf offering in Brentwood with a first floor tenant who has a long term relationship with this location and is willing to stay.  650 thousand dollars buys this along with the available office space.Alec Tarberry with WS Development has a small, 2000 sf space near Walmart and Home Depot in Raymond where a Quiznos used to be.  There is signage on 101 to boot.Wes Tator with NH Real Estate has a successful bakery café looking for 5000 sf in the Seacoast area.Bill Cormier with Hourihane Cormier Realty has an 800 sf sublease to Holy Rosary Credit Union in the Upper Square of Dover that is available for 1500 dollars per month and they are more interested in getting a simpatico tenant than the rent amount.  This is nice space.  At 436 High Street in Somersworth, Bill has an acre of land for sale that could be a anything from a coffee shop to a crematorium or maybe even both with walk ins welcome!Dave Garvey with KW Commercialhas two spots in Durham.  One is 1500 sf and the other is 2400 sf.  The lease rates have taken Olympic grade dives and the 1500 sf one has a patio that overlooks wonderful downtown Durham.Andrew Shakely with Nutec Corp can give a picture of how to bring things to code along with tenant fit up concepts. Christine Soutter with City of Somersworth Economic Development announced that they have an intern who is helping get broker’s listings onto the http://www.somersworth.com/ website.  Christine also said that she, Dan Barufaldi, Mary Ellen Humphreys, and Nancy Carmer are working together a lot to jointly draw businesses to the region.  This is fun and effective.John DeStefano with DeStefano Associates is working on a project in Dover that will need a couple of restaurant operators.  John also has a restaurant owner looking for 5000 sf to 7000 sf in Portsmouth or Boston or Nashua.  In Plaistow, one of John’s clients has a couple of 5000 sf units for lease.Bryan Dubois with Dubois Associates Real Estate and Dubois Appraisals looks forward to apprising you of the appraisal of your property of interest.John Konevich with Alliance Capital Fundinghas seen a bump up in activity and is getting a lot of hard money and bridge money into the market to gel the deals.  Bridge money can be delivered within a week to 10 days but building bridges takes a little longer.Sean Burke with NBT Bank allowed that attending the 13 March 2014 NHCIBOR networking event at British Beer Company will help lower heart attacks by reducing stress.Eric Stone with Stone & Stonehas 6000 sf in Sanford that could be a retail, office, commercial, or maybe a brew pub.  Totally a deal at 3 dollars psf.Ute Luxem at Profile Bank has money all piled up in her wheelbarrow ready to go.  On the Durham front, Ute noted that they have redone the Zoning to make it so there won’t be any more student housing on the outskirts of town and it will be difficult in the downtown area.  The town feels that with all of the new construction of this sector there is going to be over saturation.Bill Jean with Fulcrum Associates works with somebody who buys and builds strip centers from 10,000 sf on up.  They want to have at least one tenant with national presence.  This is a cash buyer and they can move quickly.  This hunt is on for Southern Maine, Northern Massachusetts, and the New Hampshire Seacoast.  Bill also has someone looking for a piece of land just north of 101 in Epping that could house 14,000 sf of retail and an 8,000 sf restaurant.David Choate with Colliers has 30,000 sf in Dover currently occupied by Conproco that is going to be available at the end of March.  This is beautiful space with 22 foot ceilings and is available for 6 dollars psf NNN or 1.8 million dollars.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 March 2014 at One New Hampshire Avenue, Third Floor Conference Room Pease TradeportThe sponsor will be Office Resources