Minutes from the NHCIBOR August 2018 Seacoast Marketing Meeting
17 August 2018
NHCIBOR – New Hampshire Commercial Investment Board of Realtors
Meetings take place on the third Friday of each month
Location:
One New Hampshire Avenue
3rd Floor Conference Room
Pease International Tradeport
Portsmouth, NH
Special thanks to Two International Group for providing the meeting space!
BREAKFAST SPONSOR this month was Ray Sirois with ServiceMaster Restore. ServiceMaster Restore is a disaster restoration company with a 97% Consumer Satisfaction Ratinge. Their main office is out of Wilmington, MA and they have a second location in Rochester, NH. They specialize in all types of restoration including fire, smoke, water, trauma and mold removal. They also are the people to call if your water heater goes. They can take care of that!
Cash Buyers
Catie Medeiros with The Kane Company has a cash buyer looking for approximately 2 acres of commercial land in Dover or on the border of Dover/Somersworth. Explored options online and looking for something that is off market that might work.
Bob Marchewka with One Commercial has a buyer looking for small commercial/industrial building with 1+ acres of land. The buyer needs to be able to park and house automobiles on the property. The closer to Newington, the better.
Dave Garvey with KW Commercial has a cash buyer looking for large apartment complexes, challenging properties with deferred maintenance or any larger industrial properties with environmental issues. Any price range up to $15M in the Southern NH area.
Ralph Pope with Coldwell Banker Commercial has a buyer looking for land to develop. Buyer is interested in existing commercial locations with multi-tenants, decent sites with a building rehab or the redevelopment of a multi-family property.
Tad Dziemian with Neighborhood Energy helps maintain energy costs for commercial and industrial clients.
Ellen Bates with Office Interiors specializes in interior design and furnishings for commercial spaces. Their office is located downtown Dover.
Romeo Danais is an investor looking to purchase industrial properties in the $3.5 – $8M price range, located in the Southern NH area.
Jay Lee with BHHS Verani Commercial has a cash buyer looking for up to 15 acres and has $50-$60M to spend on property located north of Boston. He also recommended Erin Pike from St. Germain Collins. He had a property in Nashua that she was able to help him turn around in a week.
Jamison Bibaud with Masiello Commercial has 3 years of commercial office leasing experience and is looking forward to growing with the commercial group.
Kathy MacKinnon with Masiello Commercial used to work in residential real estate and is currently transitioning into commercial.
Jay DelMonte with Masiello Commercial is happy to join the Masiello team.
Robert Cruess with TFM Engineers has offices in Bedford and Portsmouth, NH. They are very busy right now, but would love the opportunity to work with you.
Andy Ward from Colliers is working out of the Portsmouth office. He has a buyer looking for self-storage locations. They need vacant land with permitting. He also is looking for stabilized investment properties. The epicenter would be Seabrook and southern NH area.
Jeff Boufford with Boyd and Boufford works out of the Bedford office. They are an insurance agency and work all over from Nashua to Concord to the Seacoast. They will go even further for referrals. They help investors buy commercial properties including residential, commercial, Class A, multi-families, etc.
Erin Pike with St. Germain Collins are environmental consultants for lenders, buyers, owners, property managers, and brokers. When you are looking at real estate, they can help during the due diligence period.
Tia Hagan with Tech Needs Staffing can help with hiring. There are a lot of new businesses coming to NH and a low unemployment rate.
Vince Chestnut with Alpha Lock said his van is in the shop right now, making it a little more difficult, but he is still dedicated to serving his clients.
Kevin Raymond with Optima Bank has no cash buyers, but lots of money to lend.
Ute Luxem with Profile Bank has money to lend and encourages you to do business in Somersworth. It has great business parks and lots of commercial properties available.
Marie Bodi with CP Management is a property management company with an office out of Exeter, NH.
Peter Hoekstra with Peniel Environmental can help with your clean up of environmental problems.
Jeff Hiatt does cost segregation studies. It opens up a lot of benefits for your clients.
Bill Jean from Fulcrum Associates work with clients from South Portland to Massachusetts doing ground up building and interior tenant fit-up work.
Eve Hoefle with Two International Group is looking to purchase more property in the Seacoast for their portfolio. They are looking in the $5-$15M range.
Robin Comstock with Somersworth Economic Development wants you to come to Somersworth.
Murray Beaulieu with Boosted Profits advises on tax credits and will work with your CPA to get to the finish line on how to save the most money.
Dan Perakis with Building Envelope Specialists are restoration consultants and can identify potential issues with properties.
Stephen Jones with Building Envelope Specialists can help if you are looking at properties and run in to interior issues. Call them as they have seen it all. If you are kicking tires with an issue, one of their staff members can help.
Ben Baroody with Baroody Real Estate has a cash buyer in the need of a garage to park 4-6 vans and 2 trucks overnight with a drive-in door. Looking from Concord to Nashua and Epping area.
Joe Cunningham with Cunningham Associates has been in business for over 16 years, located in Portsmouth, NH. They work in Portland, Nashua and all over the Seacoast area. The family business has a lot of experience providing insurance to condos and older buildings.
Barbara Lizotte with Tobey and Merrill are certified insurance counselors offering commercial lines. They can write in Maine, Massachusetts, Vermont, Colorado and Texas.
Wendy Rayno with Bank of New Hampshire is the commercial bank of NH and Seacoast.
Ethan Ash with KW Commercial has a cash buyer looking for industrial properties with 10,000+ sf, located on the Route 16 corridor from Rochester to Ossipee. This would be a 1031 exchange deal.
Al Silva with Silva Graphics is located in Stratham, NH. They do design fabrication in Massachusetts, Maine and New Hampshire.
Scott Kingsley with Primary Bank is underwriting all over NH and from Boston to Portland.
Chris Kelly with Red Thread Steelcase Dealership is a Manchester, NH firm. They specialize in furniture and can help post construction. Recently moved to NH and looking to get involved with the state and market here. He moved to NH from Manhattan, NY.
Kent Buschle with Hartland is the largest credit card processing company in the world. They are #1 for payroll services. This is his first time attending a NHCIBOR meeting. He can talk to businesses going in that don’t want to do payroll themselves or plan to take credit cards.
Ray Sirois from ServiceMaster Restore will send out an email about their open house event on September 27th. It will have an open bar and excellent buffet. Event will take place at their home office in Wilmington, MA.
David Choate with Colliers is working with Andy Ward on a requirement for a client, Seacoast Learning Collaborative. They have been located in Brentwood for years and he was able to move them to a vacant former school space in the Gonic Mill last year, but they really need to be in the Chester, Fremont or Raymond area. Looking for land to build or a building they can expand. They need 20,000 sf, so let him know if you have any ideas.
Announcements
- The next NHCIBOR Statewide Marketing Meeting is Wednesday, September 26th at 9:00am in Bedford, NH.
- The September Breakfast Sponsor for the next Seacoast Marketing Meeting will be Wendy Rayno from Northway Bank (she has switched banks!).
- North Shore After Hours Networking Meeting is on Thursday, September 13th in Salisbury, MA at 5:30pm at the Seaglass Restaurant.
- The NHCIBOR 3rd Quarterly Meeting is scheduled for September 28th. The event will focus on building systems including electrical, plumbing, HVAC, etc. The event will be from 9:00am to 12:00pm. More details will be posted on the website soon.
- Scott Kingsley shared details on the success of the August 2nd first ever summer networking event. It was a beautiful night, with lots of beer, wine, a magician and door prizes. They raised over $7,000 for CIBOR Cares.
New Listings
Catie Medeiros with The Kane Company has a turnkey medical condo available for sale in Portsmouth, NH. The condo is being sold with an abutting residential condo for $275,000. Total sf is approximate 1,500 sf. She also has a 1,300 sf retail/office condo downtown Portsmouth listed at $495,000.
Bob Marchewka with One Commercial has a former motorcycle dealership on Route 1 in North Hampton for lease. There are 3 buildings on the property with up to 9,000 sf total. The entire property could be leased for $10,000/month. Property could be built out to suit one’s needs or might be for sale.
Gerry O’Connell with KW Commercial is listing 195 West Road in Portsmouth with 4,900 sf. There is a warehouse and property can accommodate smaller users. Many options with the different ways the property can be broken up. If a bigger user leases out the majority of the space, Owner would consider putting in an elevator. Gerry will be hosting another Open House event at the property on September 20th. He also has office space at 40 Pleasant Street available for lease.
Dave Garvey with KW Commercial is listing a 30-unit multi-family in York for $5,599,000 with a 7% cap rate. Property is in great condition and spits money. He also has an 11-lot subdivision that will be available the beginning of September. He will be doing a call for offers on that property; no price is set yet.
Ralph Pope with Coldwell Banker Commercial has a confusing Somersworth property for which he needs a buyer. The property used to be leased by an aluminum company, there is a 3-story barn – great space for functions or retail, a hair salon in the basement and is zoned for single family residential. The only use allowed by variance is the former 2,700 sf craft retail space in the barn.
Tad Dziemian with Neighborhood Energy gave a quick overview of energy. The makeup of electricity in NH in 2016 was 42% natural gas, 7% renewables and solar wind and 51% gas. The issue we have in NH is the capacity constraint in the winter months. Tad manages this with his clients and the spikes that can go into the double digits.
Ellen Bates with Office Interiors worked with a client to space plan and create renderings for space at Two International and, when they saw the drawings, they decided to sign the lease on it.
Romeo Danais is an investor who has 10 acres of land on Rockingham Road in Chester. It’s east of the Wellington Bypass on Highway 101 Exit 1 going north. The property is approved to build a 40,000 sf building, location is good for trucks and could be a build-to-suit.
Jay Lee with BHHS Verani Commercial has 3 bank pad sites available. One in Salem, NH with 40,0000 VPD, another in Amherst with 42,000 VPD and Londonderry on Rockingham Rd. Contact him for more information on these opportunities. He is also representing a developer for the Village Center Town Hall. 12,600 sf of office and mostly retail, $27 psf, a mile off Exit 3 from Route 93. Build-to-suit. Looking for a deli or food service.
Jamison Bibaud with Masiello Commercial is listing 351 Chestnut Street, the former police station. Space is located on the 3rd floor. Owner will get creative to make it work for the tenant.
Kathy MacKinnon with Masiello Commercial has a 5-unit property in Nashua located at 29 Hanover Street for $375,000 with a 9% cap. Another unit in Milford at 193 Union Square is available with 21 parking spaces.
Jay DelMonte with Masiello Commercial is working with buyers and sellers of restaurant businesses. He needs to have an NDA signed. He has a diner in Salem, downtown Manchester steakhouse and a sandwich shop in Concord for sale.
Robert Cruess with TFM Engineers is breaking ground in Goffstown on a property that has 20 townhouses, Franklin Savings Bank and Rite Aid and they are currently looking for a medical user for the last remaining parcels. Emergency care or medical office would be the best fit so please contact him.
Andy Ward from Colliers has a new listing in Salem. Industrial property with 16,800 sf. Very rare opportunity with 2,600 sf of office; rest of the space is warehouse, 5 loading docks, no drive-in doors, 16 ft clear height and available for October. No lease rate yet.
Jeff Boufford with Boyd and Boufford can insure vacant land with builder’s risk insurance. There are several big projects under construction in the $4M – $5M range that he is helping cover the owners while the property is under construction. There is a big market for this right now and he can help.
Erin Pike with St. Germain Collins can help with Phase 1 assessments. They also can do smaller desktop reviews if you have a client that doesn’t need a full Phase 1 assessment.
Tia Hagan with Tech Needs Staffing is located at the Pease Tradeport and they have some great people in the manufacturing and bio fields right now looking to be placed.
Vince Chestnut with Alpha Lock is the person to call when you are handed a large ring of keys and you have no idea what each key goes to. This happens usually after purchasing a new property.
Kevin Raymond with Optima Bank has a customer with a property for sale on Route 1 in Wells, Maine. The owner is motivated to sell.
Mike Costigan with KW Commercial has a property in the heart of downtown Portsmouth. The entire 3rd floor is ready to lease. They have smaller office space or one large space. Property is located at 40 Pleasant Street.
Fred Richards with Masiello Commercial has a commercial office condo downtown on South Main Street in Concord. 2,200 sf on the lower level of a 3-story brick building for $170,000.
Ute Luxem with Profile Bank still has money to lend that can help clients with cash flow which is very important to customers. Amortization helps with cash flow and please take this in to consideration with your deals.
Justin Mikolyski with Creative Office Pavillion has furniture to sell. Bring him in during the preliminary discussion so he can help clients budget the furniture. He also can get you numbers quickly to keep the process moving forward.
Marie Bodi with CP Management – Chris Pascucci recommended them for their great services and Marie went around with handouts for the group.
Peter Hoekstra with Peniel Environmental had a mill owner in Rochester call about getting rid of lead in the risers of a staircase. They do this type of work so if you have an antique staircase with lead, give them a call.
Jeff Hiatt with Newington Economic Development has an event in early October that he is inviting all the real estate agents to. Newington is open for business and they have land at the waterfront and want to talk about developing this land. More details to come about the event.
Bill Jean with Fulcrum Associates handles construction management, projected BA systems, stand-alone projects and more. They work in Portsmouth and regionally. They have current data on costs for a variety of projects, so they can give accurate projections and set the right expectations for clients. There is limited access to good contractors right now which can delay projects and increase costs.
Eve Hoefle with Two International Group has flex space for lease at $12.00 psf and approximately 7,000 sf total sf located at Pease.
Kathryn Bristol with New Vo Interiors is out of Manchester. They do furniture consulting and interior design. They are moving any type of commercial furniture you can think of and have access to many lines and discounts. They have small margins and are able to give you the same stuff as the bigger companies. They are available 7 days a week and will work with your interior designer to get you exactly what you want in the space.
Robin Comstock with Somersworth Economic Development said Somersworth is on the eve of the largest development project regarding open space. They are proposing a mixed-use structure in the center of the downtown Somersworth Plaza. She passed out some information on it for people to check out. RFPs are due soon.
Andrew Robbins with Colliers is licensed in MA. He has 2 industrial condos on Middlesex Rd in Tyngsborough that have 3 phase power, well water/sewer, 45 ft column spacing, 10,000 VPD, a mezzanine and clear height of 10’5”. Available at $406,250.
Murray Beaulieu with Boosted Profits works with real estate investors or business owners on cost segregation, cash flow boosts, tax law changes and tax rates changes. Deductions have less impact and they can educate people on that and what cost segregation can do for you. There is a 40% difference on the cash flow benefits based on timing. Don’t miss your window and every time you buy a building, the clock resets.
Bev Donovan with the Town of Derry has an RFQ for a public/private opportunity downtown Derry. They have an innovation and culinary training station, medical training center, tech plus co-working space. There is a public parking garage to be attached and they are looking for costs and help with the concept.
Dan Perakis and Stephen Jones with Building Envelope Specialists are out of South Portland. They brought on a new architect and structural engineer. The company has decades of experience and they keep growing. They want to help people solve their problems with exterior and interior commercial properties.
Mary Ellen Humphrey with Durham Economic Development provided an update on the business park that UNH is working on. They have a new “West Edge opportunity zone” and ERZ tax benefits. They are looking for companies with synergy to the college. They are hosting a meet and greet with agents and she will keep you posted on that date.
Joe Cunningham with Cunningham Associates insurance company in Portsmouth can help insure clients through transition periods. They will stick with their clients even if it takes time to get the client the results they need.
Barbara Lizotte with Tobey and Merrill will talk to you about a property and what it will become in the best light. She takes the risk in finding out what you need to know and presenting that to the carrier to get the best rate for her clients.
Wendy Rayno with Bank of New Hampshire is a commercial lender and here to support economic growth. There were a couple deals she did recently that added 11 new jobs to the Seacoast area.
Ethan Ash with KW Commercial has a new listing that will be on the market next week. The listing is in South Hampton, 10 Locust Street. Residential house and a 4,000 sf of commercial building with parking across the street. Two buildings priced at $1.2M. There is a Broker Open House coming up. It’s the perfect property for medical office and home.
Al Silva with Silva Graphics is located in Stratham, NH. He asked the group if anyone knew what happened to the Subway and antique shop building in Greenland. Catie mentioned it was sold by The Kane Company to a new owner for a Dunkin’ Donuts.
Scott Kingsley with Primary Bank does financing for commercial construction.
Chris Kelly with Red Thread Steelcase Dealership can help commercial brokers since they have a ton of research on how people are working and trends they see. They can share this information with the brokers to make them more knowledgeable. They also can space plan and create a visual rendering for clients as additional services they offer.
Kent Buschle with Hartland stated that, in the world of plastic, businesses pay 3% for the luxury of taking cards. It’s one of the top 4 expense line items. They are the least expensive on wholesale so if you know someone who takes plastic, give him a call. They also have hundreds of accounts and could be a resource to brokers.
Ray Sirois from ServiceMaster Restore has the deal for you; come to their open house event and enjoy the open bar and big buffet.
David Choate with Colliers has an investment opportunity that will soon be on the market in Somersworth. It is a medical condo on Marsh Brook Drive and is a net leased property until May 31, 2024 with a 7% cap. He has a NDA if you are interested. Asking price is $1,200,000.
Haves & Wants
Catie Medeiros with The Kane Company has great office spaces for lease on Commerce Way in Portsmouth. The Portsmouth Business Park includes Class A office space ranging from 1,800 sf – 3,000 SF. Lease rates are between $16.50 – $17.00 psf.
Gerry O’Connell with KW Commercial wants everyone to come to the NAR National Convention in Boston this year. There is a lot offered for commercial and is well worth people attending. Create nationwide connections. The event is from November 1st through 5th. Put it on your calendars.
Mike Costigan with KW Commercial has 156 High Street in Somersworth listed for $375,000. He is listing two properties for lease in Dover. One is at 95 Washington with first floor space that could be retail or office. 442 Central Avenue is also available and he has renderings for a sports bar.
Ellen Bates with Office Interiors welcomes you to come to her showroom located in downtown Dover next to the Thirsty Moose.
Romeo Danais is an investor who closed on a building and has about 25 pounds of keys. He will be giving Vincent a call to help with this.
Jay Lee with BHHS Verani Commercial is listing a property with 3,800 sf in Bedford, located across from the country club.
Chris Pascucci with Masiello Commercial is listing the Pines restaurant which could be used as existing or repurposed. Let him know if you have anyone interested.
Jamison Bibaud with Masiello Commercial has two buildings by the outlets in Tilton. Net leased and new construction. Buildings could be purchased together or separately.
Kathy MacKinnon with Masiello Commercial is listing 34 Amherst Street, $16 psf NNN, located within a 6-unit strip mall.
Jay DelMonte with Masiello Commercial is representing two national chains. One is a burger place going into the Mall of NH in November. He is looking for 2,000 sf in Portsmouth. He also has a pizza chain looking for space as well.
Robert Cruess with TFM Engineers hosted a great Chamber of Commerce cookout in Manchester with 150 – 200 people that came out for it. They are about to work on a large retail mall and have another one coming up. It shows you that retail is not dead. One of the malls is in Concord, NH. It’s a lifestyle strip mall.
Andy Ward from Colliers wants to highlight an old listing that is for sale or lease in Hampton. The building is over 4,000 sf on 4-levels, could be demised to two for about $25,000 – $30,000. They already have that estimate together. Lease rate is $13 psf NNN. Nets are $5.00 psf.
Jeff Boufford with Boyd and Boufford can help get new members of NHCIBOR on board if anyone has questions and wants to sign up.
Vincent Chestnut with Alpha Lock is the person to call if you give out your last key!
Kevin Raymond with Optima Bank – if it makes sense, he’ll make the deal work.
Justin Mikolyski with Creative Office Pavillion let us know the seats we were sitting in are Herman Miller and he can help upgrade your office space if you like the seat you’re sitting in.
Bill Jean with Fulcrum Associates can help with your construction needs.
Eve Hoefle with Two International Group wants to bring attention to the new building at 85 NH Avenue. They are almost done with the work and only a small amount of space is left to lease.
Kathryn Bristol with New Vo Interiors can help if your office needs glass walls or cubicles and they have high-end options. If you have an opportunity coming up, please talk to her.
Robin Comstock with Somersworth Economic Development reminded the group about the RFPs which are due soon.
Stephen Jones with Building Envelope Specialists worked with the US Navy on a low frequency issue at their communication center. The Navy spent 2 years trying to figure out the issues and BES was able to help them get to the bottom of it. Their company does what other companies cannot.
Ben Baroody with Baroody Real Estate has a gym buyer looking in southern NH who needs 9,000 sf, but will buy something bigger with parking for 85 to 75 cars.
Mary Ellen Humphrey with Durham Economic Development mentioned her house is for sale in Rochester if anyone can help sell it.
Joe Cunningham with Cunningham Associates is part of the Portsmouth Rotary and they are looking for donations of wheelchairs and crutches. He is happy to pick up the items. Last year they sent over 4,000 items to Africa. They also can lend items out to people locally who need them.
Kent Buschle with Hartland has two clients he works with who purchase properties to open convenient stores and liquor stores.
David Choate with Colliers has a new listing at 124 Heritage Avenue which is a 12,000 sf high bay warehouse. The current Tenant is moving to 175 Heritage Avenue by the end of the year.
Note from Catie Medeiros | The Kane Company: 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, 21st September.
In the Third Floor Conference Room of Two International Group’s Building at
One New Hampshire Avenue, Portsmouth, New Hampshire, Pease International Tradeport.
Wendy Rayno, now with Northway Bank, will be the breakfast sponsor.