17 May 2019
NHCIBOR, New Hampshire Commercial Investment Board of Realtors
Minutes of Seacoast Marketing Session, which occurs every third Friday 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!
Wendy Fracassi Rayno and Jonathan Shapleigh with Northway Bank were this month’s sponsor and we thank them for the delicious breakfast provided. Today, Northway Bank is one of the largest independent commercial banks in the region, a preferred SBA lender, and a leading home lender in our markets. They proudly serve individuals, small businesses and commercial customers with 16 branches throughout New Hampshire and two Loan Production Offices in Bedford and Portsmouth.
Cash Buyers
Bob Marchewka with One Commercial Real Estate has a cash buyer looking for around 10 acres of land on Route 125; it doesn’t need to have an existing building on the land, but would be preferred. He has another cash buyer looking for a retail building close to Route 101 or I-95.
Caitlin Burke with The Boulos Company has a tenant looking for 6k sf of retail/restaurant space on the outskirts of downtown Portsmouth.
Abby Morneault with Colliers International has a cash buyer looking for 5-15k sf of industrial office space in the greater Portsmouth area.
Joe Friedman with Brooks Properties has a cash buyer looking to purchase an industrial building on the I-93 corridor between MA and NH.
Jay Lee with Berkshire Hathaway Verani Realty has a cash buyer looking for sites that can be used for redevelopment, office space, retail, and gas stations. The buyer is willing to spend anywhere between 20-30 million.
Andy Ward with Colliers International has a cash buyer looking for 100+ units of self-storage on 5-10 acres of land, 30 minutes from Seabrook. The buyer would like the location to be visible, but at the same time tier 2 locations.
Nicole Canavan with Berkshire Hathaway Verani Realty has a cash buyer looking to buy a restaurant/pizza location. The building can’t be in a strip mall, must have the ability to seat 50-100 people, and the town has a large population.
Scott Forte with Century 21 has a cash buyer looking for 4-5k sf that can be used as a brewery. Also, he has another cash buyer looking for a building in the Somersworth/Rochester area that is for mixed use.
Lindsey Goodrich with Berkshire Hathaway Verani Realty has a cash buyer looking for 10-15k sf for a retail shop. The buyer is willing to spend up to 5 million, but the building itself must be in a location where there are 30,000 people in a 3-mile radius of it.
Romeo Danais has a cash buyer looking for an industrial building in the Southeast corner of the state.
Kathy Rush with Berkshire Hathaway Verani Realty has a cash buyer looking for a strip mall that is willing to spend up to 1 million. She also has a bank that is trying to move into NH, but currently can’t find any opportunities.
Ethan Ash with KW Commercial has a cash buyer looking for multi-family units close to the Lakes Region. The buyer is looking to spend 1-2 million.
Wendy Fracassi Rayno with Northway Bank has a cash buyer looking for an office building in Exeter with tenants already occupying the space. Also, another cash buyer looking for self-storage units.
Jonathan Shapleigh with Northway Bank has a cash buyer that is looking to expand their business. They are looking for 5-7k sf in Rochester. The building would preferably have 1-2k sf of office space and a warehouse in the back.
David Choate with Colliers International has a cash buyer looking for a small multi-family building in the Dover/Tri-City area. The cash buyers are looking to spend anywhere from $400,000-$600,000.
Announcements
– Optima Bank/Cambridge Trust will be next month’s sponsor.
– June 21st is the next Seacoast CIBOR meeting.
– Scott Kingsley is looking for people to sponsor the August 8th annual summer mixer party.
-June 13th there is mandatory NHCIBOR orientation for all members who are Realtors and for affiliates it is optional. This will precede the annual TF Moran BBQ where the Realtor of the Year and Affiliate of the Year awards are presented.
******CHECK THE NHCIBOR CALENDAR FOR ALL DETAILS REGARDING UPCOMING EVENTS*****
Listings
Bob Marchewka with One Commercial Real Estate has a listing on 7 Holland Way, Exeter, NH and the building is 27k sf. He also has a listing for a 3-story building that is 3k sf, but there are plans to expand that to 5,200 sf. The location is 206 Court Street, Portsmouth and is valued at 1.3 million.
Caitlin Burke with The Boulos Company has a listing for a small flex office/condo around 1k sf. The property is valued $125,000.
Abby Morneault with Colliers International has a listing on 65 Main Street/6 School Street, Dover, NH. The building is 3,700 sf, with 3,100 sf of office space and around 650 sf of storage. The space will be available next Spring.
Russ Doyle with Two International Group has 3 spaces available in One New Hampshire Avenue, Portsmouth (Pease International Tradeport – the same building where Seacoast CIBOR takes place). The sizes of these spaces vary, but there is a private parking garage, gym on the first floor, and a café within the building.
Jay Lee with Berkshire Hathaway Verani Realty has a 5,400 sf freestanding retail building in Manchester. The building is a former Taylor Rental shop and is valued at $650,000. He has tenants to fill the space once purchased.
Andy Ward with Colliers International has a listing for a retail unit on Market Street in Portsmouth, that is 1,450 sf.
Nicole Canavan with Berkshire Hathaway Verani Realty has a listing for a nail salon on Second Street in Manchester. The building is 1,300 sf and the owner is willing to help out with the turnover because she is moving out of state. She also has a listing for 5+ units in Manchester.
Scott Forte with Century 21 has a listing for a restaurant in Seabrook that nets $250,000 a year.
Lindsey Goodrich with Berkshire Hathaway Verani Realty has a redevelopment site for lease on Amherst Street, Nashua, NH that is an old SNHU building. She and Jay Lee also have leasing opportunities in Capital Place, which is a shopping center in Nashua. It offers excellent signage opportunity on Route 101A, easy highway access, and 1,000 residential units within walking distance.
Romeo Danais has a listing for an industrial building that is 110k sf in Hooksett, NH. It has 550 parking spots and is off the I-93 Corridor.
Kathy Rush with Berkshire Hathaway Verani Realty has a listing for a mobile park home for sale in the Milford, NH area.
Ethan Ash with KW Commercial has a couple listings. The first is for an office building in Dover that is a single tenant 5-year lease. The other listing is also office space in Dover on Central Ave, and is 1,000 sf.
Dylan Jones with Salem Five has two groups of folks looking for 50-75k sf of industrial space along the southern border.
Lynne Merrill with The Merrill Bartlett Group has a 2.49-acre commercial lot on Route 125 in Kingston, NH. It is valued at $395,0000.
Wendy Fracassi Rayno with Northway Bank has a listing for 16-25k sf of industrial space for a machine shop in the Seacoast area.
Lindsay Desmettre with WS Development has leasing options in Lafayette Crossing in North Hampton for 10k sf of space for retail or medical use. She also has additional leasing options at Epping Crossing.
David Choate with Colliers International has a listing in Seabrook on 8 London Lane. The available space is about 3,300 sf of dead storage space, with 2 loading docks and a drive-in door for $10.50/sf absolute gross.
Haves, Wants, and Affiliates
Christopher Mark with Restore My Floor wanted to remind everyone “If you walk on it, we work on it”. Also, he mentioned his wife’s charity event – for more information about it, please contact Christopher.
Naithan Couse with Make a Difference Landscaping offers landscaping, irrigation materials, lighting, and property maintenance.
Mark Sullivan with Seacoast Asset Management wanted to share an article that he believes will be very helpful and could potentially save you lots of money.
Attached is an article I’ve sent to many CPAs, Attorneys and successful business owners who were unaware of the important differences between captive Registered Representatives (RRs) versus independent Registered Investment Advisors (RIAs), as do most investors. Like in real state, one is a “seller’s broker” who represents the interests of the seller (that would be the RR) and one is a “buyer’s broker” who represents the interests of the buyer (that would be the RIA). I think the example in the attachment is helpful because it actually quantifies the results using the two different investment standards- in this case, it meant an extra $92,000 to the fiduciary client. While this is a sizable difference, the disparity will often be significantly more in many cases depending upon how much is invested and for how long.
To take it from investing or real estate, let’s use a car purchase. As an RR, the ever-friendly salesman’s job is to take down information to purportedly get you the ‘best price’ on a proprietary vehicle manufactured by his employer. Unfortunately for you, the more expensive it is, the better for him, his sales manager and the owner of his dealership, so there is an obvious conflict of interest. That is because an RR is NOT required to do what is in the client’s best interests since he represents the interests of the seller, not the buyer, and is merely prohibited from doing something he knows to be wrong.
There is a substantial difference between what is actually ‘best’ as opposed to what is merely ‘not wrong’. This business model is called the ‘suitability’ standard, a caveat emptor (aka buyer beware) standard wherein it is incumbent upon the buyer to discern the merits, or lack thereof, of any investment advice, not the salesperson. This is Wall Street’s preferred model for obvious reasons.
On the other hand, an RIA is required to know better and must legally assume the burden of determining the merits of any investments on his client’s behalf. Also, an RIA cannot be paid more to recommend one product over another, a very significant difference, and all fees must be fair, reasonable and fully disclosed. To use the automobile purchase example, the advisor would have to search the entire automobile marketplace to find the most appropriate vehicle at the best price regardless of the manufacturer. That is because RIAs are governed by the higher ‘fiduciary’ standard, which is why judges ruling on awards to minors and incompetents will often insist that the assets be managed by an RIA.
Since money is so damn hard to save in the first place, please share this information first with those you care most about, then with those you’d most like to impress.
Jerry Bazata with Cambridge Trust has been in business since 1890. Throughout their history, Cambridge Trust has created real connections with their clients, their families, innovative businesses and the community. They have 2.1 billion in total assets as of 3/31/2019.
Stepfani Croteau with Allen & Major Associates is a multi-disciplinary firm specializing in civil and structural engineering, land surveying, environmental consulting, and landscape architecture. Established in 1973, A&M has three offices that provide services throughout the Northeast. With over 40 dedicated engineers, landscape architects, land surveyors, project managers, and support specialists, their team brings a wide range of expertise that comes from decades of experience in both the public and private sectors. It is their commitment of offering consistent, responsive, and reliable service that has kept A&M in business for nearly five decades.
Michael Farinola with NH Commercial Appraisals (NHCA) wanted to give Alpha Building Inspections a shout out for work he did with them recently. NHCA is a real estate appraisal company dedicated to providing accurate and affordable commercial real estate appraisals in a professional and timely manner.
Ron Bowman with ASAP Fire is looking to lease a building ranging from 100k-110k sf.
Jeff Boufford with Boyd & Boufford Insurance provides insurance to Southern NH. They specialize in commercial real estate.
Kyle Kadish with Advantage Wealth Solutions wanted to mention that 1031 exchanges are not the only options they have.
Vince Chestnut with Alpha Locksmith brings professional security to your home or business.
Al Silva with Silva Graphics is serving the New England area with more than 20 years experience in the sign industry.
Courtney Patrick with Market Square Architects was established in 2016 with a focus on providing great value to every client they serve. They have grown from a 2 employee company to 14 employees over the years and are licensed in 26 states. She wanted to remind everyone to invite them into the process early.
Kathryn Bristol with NewVO Interiors brought up how they are trying to expand and grow their office supply chain. She recommends trying them out because they can give you the best deal available.
Chris Kelly with Red Thread’s furniture team has the expertise and vast portfolio of options to help you create high performance work settings.
Daniel Jalbert with Comcast Business is a senior business account executive. He wanted to mention he could help provide Internet and cable analytics to realtors looking at properties.
Scott Kingsley with Primary Bank provides commercial, industrial, and residential loans. He is also looking for sponsors for the Summer Mixer on August 8th.
Jason Settineri with Build It Construction delivers expertly planned interior renovations for both privately and publicly held companies. Get them involved early!!
Anne Copp with Berkshire Hathaway Verani Realty is an advisor in the commercial division. She had taken a little hiatus from the Seacoast CIBOR meetings, but is excited to be back!
Sandra Hodge and Anne Weidman with JSA Inc. is an architectural design firm committed to a deep understanding of client needs and the buildings they construct. Their mission is to deeply engage with the world around and to understand the unique, diverse experience of each citizen, to design environments that make a positive impact on the lives and communities in which they all live, learn and work. They also have two upcoming events so contact them for more information!
Dan Barufaldi with the Dover Industrial and Business Development Authority wanted to mention how Dover is currently trying to change zoning rules in the town in order to be looking up to 50 years down the road.
Steve Mangekian with Alpha Building Inspections is looking to speak with lenders about bank draw inspections. Alpha Building Inspections is a 5-inspector company that performs residential inspections all over the state of NH and Southern ME. Also, they perform Commercial Inspections all throughout New England.
Ray Dugdale with Service Credit Union wanted to mention they have up to 30 million dollars to loan out.
Erin Pike with St. Germain Collins is a scientist, Environmental Project Manager and Lender Services Manager on the St.Germain Collins team. She works with a lot of petroleum-based companies so she can help assist any realtors who work with clients buying gas stations. Also she works with a lot of lenders.
Eric Kizak with SFC Engineering is a Licensed Professional Engineer with over 20 years of experience in structural design and assembling construction documents for the construction, repair, and renovation of a wide variety of building types.
Mark Whalen with NorthMarq Capital focuses on sourcing debt and equity opportunities that are structured and marketed to a targeted set of capital sources through the creation of financing summaries.
Note from Petie Cummins: 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, 21 June 2019, in the Third Floor Conference Room of Two International Group’s Building at One New Hampshire Avenue, Portsmouth, New Hampshire, Pease International Tradeport.
Optima Bank/Cambridge Trust will be the breakfast sponsor.