15 December 2017
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!
Robert & Anne Cruess with TFM/MSC were the breakfast sponsors. TFM/MSC provides a wide range of engineering services including civil, survey, landscape, traffic, wetlands, and structural. They have you covered for figuring out your site and keeping the buildings plunked there plumb and true. Offices are in Bedford and Portsmouth, New Hampshire. The office is also known far and wide for their functional functions and barbecues.
Cash Buyers
Tony Fallon with Tony Fallon Architecture designs commercial and residential offerings for optimal optimization optimistically in Maine, New Hampshire, and Massachusetts.
Bob Marchewka with One Commercial has a party looking for 10,000 to 20,000 sf of office/industrial space in the Portsmouth area.
Andy Ward with Colliers had his hunter version of the ugly Christmas sweater on in prep for the competition later that day. Andy is also looking for a small industrial facility along Route 1 from Seabrook to Newington along with smaller investments. They do not need to be a great cap rate and value add is lovely for this group seeking to prosper properties.
Eve Hoefle with Two International Group shared that they are a value add buyer for all types of construction. Let’s deal!
Jerry Bazata with Optima Bank is optimistic about the opportunities wending their way to Optima in 2018. It’s looking very busy and the phone is ringing off the hook for deals all over New England.
Tom House with THA Architects mostly does commercial work including multi-family and senior housing.
Vincent Chestnut with Alpha Locksmiths brings professional security to your door.
Mark Sullivan with Seacoast Asset Management keeps things growing.
Bill Jean with Fulcrum from Amherst, New Hampshire has a developer looking for 100 unit and up multi-family opportunities in Southern Maine, Northern Massachusetts, and all of New Hampshire.
Don Marshall with Marshall Associates is a general business broker with a new listing of an optometry practice. This business that sports a nice team of optometrists and earns 202K is going for 299K. The 2,560 sf building is beautiful and going for 599K.
Tad Dziemian with Neighborhood Energy is a New England energy supply broker for commercial, industrial, and residential that saves you money with no cash out, just less cash out.
Anne Cruess with TFM/MSC is retired and assists with occasional cameo sales sweeps with Robert.
Robert Cruess with TFM/MSC just attended ICSC in New York City and saw lots of excitement with the tax bill’s detail that changes the depreciation schedule that gives a bump to the value of properties.
Justin Powers with Chapman is celebrating their first year of the New Hampshire office and is happy to help with budgets for building.
Margaret Dodge with Service Credit Union is working out of the Pease branch offering commercial business and real estate lending.
Michael J. Farinola, Certified General Appraiser Licensed in New Hampshire & Maine has a January slot open.
Jeff Boufford with Boyd & Boufford offers property and casualty insurance throughout New Hampshire from their Bedford offices.
Hank Beresin with First Street Brokers in Portsmouth assists in buying and selling of businesses along with valuation and tax plans.
Kevin Raymond with Optima Bank has cash on the table and is ready to deal from their Pease office.
Jim Ward with Equity Group deals development deals in the Upper Valley where the land costs are far less than Portsmouth while the lease rates fetched are on par with Portsmouth.
Fred Attalla with Points East Weichert has an investor seeking to plunk 2 million dollars in a buy or join deal in the seacoast area.
Rick Vandenberg with Credere cleans up after your dirty dirt and let us know that the Capitol Region Development Council has a brownfield fund with low interest loans and favorable terms that have to be let by 30 September 2018
Laura Brown with BDC Capital CDC New England can wheel a deal your way with 100% financing if it is 51% owner occupied. Talk to her about 504 buildings and profitable profits.
Peter Hoekstra with Peniel Environmental takes away the headaches of mold, water, fire, and asbestos with their restoration company.
Mike Whitman with Bangor Savings Bank has dollars dancing from their Portsmouth office.
Matt Bacon with NAI Norwood is looking for a facility for lease with rail access that is in Southern New Hampshire along the I-93 corridor. Bow or Manchester would be ideal.
Ethan Ash with KW Commercial has a 1031 hunt for a million dollars in the Seacoast capping at 6 or 7.
Scott Kingsley with Primary Bank works out of their Bedford office with a sleigh full of cash to deliver to New Hampshire, Maine, and Massachusetts good girls and good boys.
Chara Gannett with Building Envelope Specialists assists owners, architects, and property managers with buttoning up the exteriors of buildings and historic buildings.
Steve Mangekian with Alpha Inspections provides commercial and home inspections in Southern New Hampshire and Maine as well as Eastern Massachusetts. Steve thanked Jeff Boufford, Scott Kingsley, and Matt Bacon for recent referrals.
Mary Ellen Humphreys with Durham Economic Development is the leavening agent for businesses in Durham.
Sally Tobias with Durham Economic Council also helps with economic development. They seek to continue to rejuvenate downtown to make it better for residents
Al Silva with Silva Graphics serves up signs in New Hampshire, Maine, and Massachusetts.
Erin Pike with Saint Germain Collins announced that they have new offices on Maplewood Avenue in Portsmouth. Give Erin a call to help with your environmental due diligence for owners, buyers, and lenders.
Jeff Brown with Cross Insurance continues on his sector switch and is so happy he jumped. It was his best decision since proposing to his other boss. Jeff is learning quickly about their 3.2 m business and will give you white glove treatment.
Bill Johnson with PC Construction works out of their Manchester, New Hampshire office of the Burlington, Vermont based company. Bill has a cash buyer looking for P3 partnerships that has a lot of horsepower and is looking for opportunities for multi-family and mixed use.
Barbara Lizotte with Tobey and Merrill wishes all well for 2018.
Mark Burnes with Harriman has offices in Auburn, Portland, Portsmouth, and Boston with project sizes served from 1 m to 100 m. Tom Roy with Structure One invited him and Harriman has had great experiences working with Structure One.
Tom Roy with Structure One also has enjoyed working with Harriman as well as building up the New Hampshire book of business.
Andrew Robbins with Colliers has been working with them for two weeks. Andrew is a Saint Anselm College grad and played goalie for them. Like many hockey players he enjoys golf too.
Mari Bodi with CP Management gathered that Gather and all have much to be thankful for and sought donations again for Gather, the local food pantry.
David Choate with Colliers has a buyer looking for a 1,500 to 2,500 sf with character in Portsmouth to buy. If exactly right, they may lease. David tossed Dover kudos for proactive positive approvals noting that the Robbins Block development was approved in a single half hour planning board meeting.
Announcements
The Statewide NHCIBOR meeting is the fourth Wednesday of the month at the Keller Williams training room at 168 South River Road in Bedford from 9:00 to 10:15 am.
Assistant Portsmouth City Manager, Nancy Colbert Puff, is interested in hearing of challenges with hoops and hurtles navigating approvals and permits in Portsmouth.
Sally Tobias with Durham asked to let her know of similar experiences in Durham.
Listings
Tony Fallon with Tony Fallon Architecture has enjoyed a quite busy 2017 with the majority of the work on the commercial side. Tony is also grateful for joining the board of White Horse Addiction Center Inc. in Ossipee which has lessened the addiction rate there by a factor of 12.
Bob Marchewka with One Commercial has office/restaurant/retail space at Pointe Place at Dover Point. The 1,000 to 4,000 5,000 square foot units are very reasonably priced at 15 dollars psf plus utilities. One restaurant has signed up and Tony Fallon was instrumental with landing Lighthouse Physical Therapy by providing quick like fit up options.
Andy Ward with Colliers has 6.19 acres for 975K 2 miles up 125 from 101 at the light near the State Police and NAPA Auto Parts. Water and sewer are available at this lot zoned for highway commercial.
Eve Hoefle with Two International Group is grateful for the conversation about how to attract young people to New Hampshire and notes this as a vital need.
Russ Doyle with Two International Group has two spaces in 85 New Hampshire Avenue on the first floor that will be ready for occupancy in June or July. Rates are 18 dollars psf NNN with 7.50 for the nets.
Jerry Bazata with Optima Bank loves working with Laura Brown such as on the recent acquisition of an historic inn. Laura quickly wheeled more dough in to get things closed.
Tom House with THA Architects let us know that there are some 5,000 sf pad sites for restaurants coming available at Southgate Plaza, a Waterstone project.
Vincent Chestnut with Alpha Locksmiths needs you to know you need him.
Mark Sullivan with Seacoast Asset Management is buying another local fiduciary group and is looking for two advisors with 10 years or more experience to join him in his fiduciary based business which necessarily takes the client position first. Don’t forget to look at the U4 line on your investments!
Nicole Canavan with Berkshire Hathaway Verani won the prize for the smallest listing. A 10×12 office in Londonderry with internet, phone, and all utilities included is yours for 495 dollars per month.
Bill Jean with Fulcrum serves New Hampshire, Southern Maine, Northern Massachusetts with tenant improvement and ground up. Bill scored the Robbins Auto Block redo which has been christened the Orpheum and is happy to help early on.
Don Marshall with Marshall Associates has a kitchen and bath remodeling company for sale with 760K sales, 140K earnings, and 295K to buy.
Tad Dziemian with Neighborhood Energy makes your pennies scream with rates below the standard utilities.
Joe Friedman with Brooks Properties has offerings in and around Salem, New Hampshire and along the I-93 corridor.
Robert Cruess with TFM/MSC signaled that signing up as a member of NHCIBOR pays.
Justin Powers with Chapman agrees members gain great dividends for short money.
Margaret Dodge with Service Credit Union floats fixed rates for 15 years that are great for investors who also like the flexible terms from this local lender.
Jeff Boufford with Boyd & Boufford is gaining volume and offerings. Office space is what carriers love to insure and they can be quite competitive for this sector.
Hank Beresin with First Street Brokers has a specialty coffee chain for sale that encompasses both wholesale and retail. The owner is willing to stay on in this nice little company that seeks new blood.
Kevin Raymond with Optima Bank says everything is possible.
Jim Ward with Equity Group noted the Upper Valley’s vacancy rate is near zero.
Fred Attalla with Points East Weichert has 893 Lafayette Road in Hampton where the candy maker is retiring to Florida and this mixed use building has a price that slipped from 695K to the sweet new price of 650K
Rick Vandenberg with Credere tossed kudos to Tom House and Bill Jean.
Laura Brown with BDC Capital CDC New England thanked Gerry for the kudos and is happy to help you with your owner occupied opportunities and all your deals.
Peter Hoekstra with Peniel Environmental is celebrating his one year anniversary of extracting your environmental headaches.
Mike Whitman with Bangor Savings Bank announced their Portsmouth location will be 8 Bow Street and that, with their purchase of Granite Bank, they have 4 billion dollars in assets.
Ethan Ash with KW Commercial has a 1,400 sf office listing at Two Washington in Dover as a sublease for 1,600 dollars per month all in including internet. On Durham Road in Dover, Ethan has a few pad sites near the new Hannaford for 12 to 20 dollars psf of new construction. Bring your bank, restaurant, or medical office on home!
Jack Murray with IKAN Properties has 500 acres with soil data in Winchester for 750K and a 12 unit expired subdivision a mile west of the Lee Circle.
Matt Lefebvre with Elm Grove Realty has 7 to 8 units for 70 to 72K per unit that are earning 738K per year.
Matt Bacon with NAI Norwood has a gas station with two 8,000 gallon double wall tanks for 729K and a market with a 3 bedroom home for 249K where the owner may hold some paper. Also, in Allenstown, Matt has a 3,920 sf medical or professional office condo for only 95K or lease it for 8 dollars psf modified gross.
Scott Kingsley with Primary Bank works out of their Bedford office with a sleigh full of cash to deliver to New Hampshire, Maine, and Massachusetts good girls and good boys.
Chara Gannett with Building Envelope Specialists assists owners, architects, and property managers with buttoning up the exteriors of buildings and historic buildings.
Steve Mangekian with Alpha Inspections says they are up 25% this year after getting active in NHCIBOR again.
Mary Ellen Humphreys with Durham Economic Development wants to help you expand.
Sally Tobias with Durham Economic Council helps with economic development in Durham and hopes to glean feedback about navigating approvals in Durham. There is going to be a new development of the Town and Campus building.
Al Silva with Silva Graphics enjoys his job and has helped LL Bean.
Laura Farago with Colliers has a new listing in Dover at 577 Central Avenue. This is the new mixed use building at the former Saint Charles Church site. There are 42 apartments up and 3 commercial units on the first floor consisting of 978 sf, 1237 sf, and 1132 sf for 15 dollars psf NNN with parking behind.
Erin Pike with Saint Germain Collins helps you close your loans with gift wrapped phase one environmental studies.
Jeff Brown with Cross Insurance helps you shift away your risk including for those wily employees who behave other than optimally.
Bill Johnson with PC Construction enjoys the dedicated employees of their 1000 person ESOP company.
Ben Millick with Clark Insurance provides commercial insurance from their Portland, Manchester, and Lowell offices of their ESOP company. Ben lives near Portsmouth now.
Mark Burnes with Harriman offers architecture, landscape architecture, civil engineering, mechanical engineering, electrical engineering, structural engineering, and fire protection engineering. They really like to work with developments and developers and are working on the Mill Plaza development in Durham.
Tom Roy with Structure One noted they are also an ESOP and enjoying a great 2017.
Christopher Mark with Restore My Floor services and provides hard and soft floors.
Andrew Robbins with Colliers looks forward to getting going.
Mari Bodi with CP Management offers proper proactive professional 3rd party management of properties and graced David Choate with the annual festive blinking light necklace.
David Choate with Colliers has 1039 Islington Street just before the bypass with 3 condos totaling 2,970 sf going for a now reduced price of only 579K. This is rare space in Portsmouth with a motivated seller.
Haves & Wants
Bob Marchewka with One Commercial talked up the Pointe Place offering again.
Andy Ward with Colliers has two small commercial lots that can be sold together or separately at 96 and 98 Lafayette Road in Hampton Falls. There is an inventory component along with a building. A used car dealership might work. Andy thanked Alpha Inspections for good work.
Russ Doyle with Two International Group noted they are starting to gain some offerings outside of Downtown and Pease so don’t hesitate to call with your new to market listings.
Jerry Bazata with Optima Bank loves working with Laura Brown such as on the recent acquisition of a historic inn mentioned earlier. Laura quickly wheeled more dough in to get things closed.
Tom House with THA Architects thanked Rick Vandenberg for assisting with some brownfield work.
Mark Sullivan with Seacoast Asset Management suggested you and yours consider buying the Vanguard S&P 500 Exchange Traded Fund (ETF), which has no sales charges and annual fees of only 4 basis points.
Nicole Canavan with Berkshire Hathaway Verani has a hunt on for a space in the Manchester to Milford to New Boston swath that could accommodate a black smith shop and a martial arts studio.
Don Marshall with Marshall Associates has a demolition company for sale that only makes money. This cash cow earns 1.25 m and is going for 3.5 m which includes 1.5 m worth of equipment.
Tad Dziemian with Neighborhood Energy has a client looking for an experienced financial manager.
Joe Friedman with Brooks Properties has a 70,000 sf building in Hudson and an 80,000 sf building in Methuen.
Michael J. Farinola, Certified General Appraiser Licensed in New Hampshire & Maine is looking for sales figures for medical, vet, dental, and surgical facilities.
Jeff Boufford with Boyd & Boufford pitched the perks of NHCIBOR membership with a story. At this meeting a couple of years ago, Jeff suggested Jay Lee stop by Jeff’s client in Raymond, Tuckaway’s, to meet the owner. Jay did and this led to Tuckaways’s new restaurant in Durham, hop+grind, at Madbury Commons. All agreed this is a hopping, jam packed business that blossomed from this beautiful bounteous forum.
Hank Beresin with First Street Brokers has an 8 year old local headphone company with a very bright future where the founder will stay on if you like.
Fred Attalla with Points East Weichert has a Bow Street restaurant business for sale at 275K. This is up for sale due to health. Also, in Nottingham, at Merry Hill Road off of Route 4, are 34 acres that could possibly be combined with an adjacent 30 acres that are both pretty reasonably priced at 300K each. Dave Garvey has the listing for the 30 acres adjacent. At 174 Milton Road, Fred also has a subdivision lot for 1.2 million and has enjoyed working with Scott Kingsley.
Ethan Ash with KW Commercial thanked Alpha Inspections for work well done. Ethan also has two spots, 1,000 and 1,200 sf that are becoming available in Durham for office or retail going for 20 dollars psf modified gross.
Jack Murray with IKAN Properties thanked Tom House for helping visualize the possibilities for 15,000 sf of retail at an Epping site along Route 125.
Matthew Lefebvre with Elm Grove Realty has the hunt on for value add multi-families in the 500K to 5 million dollar range.
Matt Bacon with NAI Norwood has a search on for a heavy equipment repair location from Portsmouth to Seabrook with 6 acres although they might be able to work with as little as 3. 6,000 to 10,000 sf of building with high bays and high doors is the ideal building. Budget is not a problem. Matt talked up the wonderful world of NHCIBOR beneficial bounteous beautiful bustling breath taking benefits.
Mary Ellen Humphreys with Durham Economic Development wants you to expand your customer base with a NHCIBOR membership that is so remarkable.
Laura Farago with Colliers has 2,600 sf on Woodbury Avenue for 20 dollar psf NNN with lots of traffic next to Dunkin’ Donuts.
Jeff Brown with Cross Insurance thanked Tad Dziemian for helping lower his electric bill.
Robin Comstock with Somersworth Economic Development shared the story of her shifting to that role. Robin also let us know about the former Somersworth High School building that Chinburg Builders are going to convert to 34 homes. Robin also talked up the plaza renovation.
Mari Bodi with CP Management thanked all for helping Gather gather food for the needy. Marie also thanked Fred Attalla, Matt Bacon, and Tad Dziemian.
David Choate with Colliers has a Rockingham County wide search on for 5,000 sf of market rate warehouse with drive in door or dock that nobody else wants (this is a dirty use) and 15 to 18 foot height. Laura Farago is also working on this.
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, 19 January 2018
In the Third Floor Conference Room of Two International Group’s Building at
One New Hampshire Avenue, Portsmouth, New Hampshire, Pease International Tradeport.
Restore My Floor LLC will be the breakfast sponsor.