17 November 2017
NHCIBOR, New Hampshire Commercial Investment Board of Realtors
Minutes of Seacoast Marketing Session which occurs every third Wednesday of every month. One New Hampshire Avenue, 3rd Floor Conference Room, Pease International Tradeport, Portsmouth, New Hampshire
Thank you to Two International Group for providing this meeting space!
Marie Bodi with CP Property Management was the breakfast sponsor. CP Management is a 3rd party property management company that manages Two International Group’s holdings at Pease and Downtown as well as others totaling 4 million square feet across New Hampshire, Massachusetts, Rhode Island, and Vermont. Marie focused on food under her board member hat of the food pantry, Gather. Mark Sullivan helped start this effort 10 years ago and they are up to 800 visits per month for families. CIBOR Cares agreed to match funds collected today up to 500 dollars and we surpassed the 500 dollar target assuring the full match. Marie met a young military wife with kids in tow who has found Gather helpful in getting ends met. They were on their way to see their loved one returning from deployment.
Cash Buyers
Tony Fallon with Tony Fallon Architecture designs commercial and residential to your delight in Maine, New Hampshire, and Massachusetts. Tony became a grandfather recently.
Mark Sullivan with Seacoast Asset Management thanks everyone for the Gather drive contribution. Mark assists in the tri-state area and noted that the need is there with the average 401k for those retiring is at 83K. Mark knows of a party looking for 5,000 sf of retail space in the Exeter, Stratham, Greenland, Portsmouth areas.
Chris Mark with Restore My Floor has a 2 year and 6 month old at home and works on what you walk on.
Andy Ward with Colliers in Portsmouth has a couple industrial tenants looking for the standard 80/20 warehouse/office offerings in the 5,000 to 8,000 sf range along the Seacoast. The listings have been scoured so slip Andy your sweet off market offerings.
John Kageleiry with Verium Asset Management helps you know what you are paying and earn well.
Dave Garvey with KW Commercial has an investor looking for 10,000 sf anywhere on the Seacoast with 2 to 3 tenants in the 2.2 m range in a retail category. Investor is income focused.
Tad Dziemian with Neighborhood Energy brokers electricity and natural gas at reduced costs with no fees, like free.
Vincent Chestnut with Alpha Locksmith brings professional security to your door and won an award for how well laid out his van is.
Ellen Bates with Office Interiors did not design Vincent’s van interior but designer Ellen congratulated Vincent on the snappy van design. Ellen has had her Dover showroom and offices and been dutifully & delightfully designing since the 1980’s just for you.
Scott Kingsley with Primary Bank was primed to follow in a suitable suit offering up offerings in new construction, credit lines, and other ways Primary’s cash can keep your cash flow flowing fluidly with Scott’s friendly bright smile.
Jay Lee with NAI Norwood has a cash buyer for stripped down and fully fitted strip malls in the 2 to 5 million dollar range in Northern Massachusetts or Southern New Hampshire. Jay deftly delighted us with an offering to help owners negotiate great deals with our friendly bankers.
Jerry Bazata with Optima Bank noted that they are the fastest growing bank in the United States of America. Jerry had two new loan originators that were announced later in the meeting.
Jeff Brown with Cross Insurance was smiling in his shiny new uniform after his recent switch from banking to Cross Insurance. Jeff has a buyer of data centers anywhere across the United States of America and they buy them like candy. As for insurance, Cross can reach nationwide too and can even assist internationally. Cross Insurance is quite a large presence in New England.
Steve Geiger is now with Optima Bank and will offer you a security banquette of banking.
Amy Sharp with TD Bank announced a new feature TD is rolling out that provides a really robust valuation of your business that produces a 29 point valuation report so businesses can see what they need to work on to keep up the value of their business.
Jim Gove with Gove Environmental assists with wetlands surveys and inventories with boatloads of experienced experience.
Jeff Boufford with Boyd & Boufford Insurance is locally owned and is definitely deftly able to suit you with a suitable performing policy from great companies and carriers. Jeff helps you manage risks when buying a building, running a business, or managing properties.
Hal Kreider with Northwood Economic Development has two grandchildren and noted that Northwood’s high school, Coe-Brown, is rated number 3 in New Hampshire academically.
Aaron Bennett with Criterium Engineering helps inspect buildings for property managers and condos.
Robert Cruess with TFM/MSC reached out to nonmembers of NHCIBOR to reach in their pockets and benefit bounteously by joining on up.
Joe Campbell of North Branch Construction of Concord helps construct.
Doug Indelicato with Insurcomm of Portsmouth is an independently owned restoration company helping with mold, restoration, and material storage.
Caitlin Burke with CBRE has a small cash buyer looking for 5,000 sf of commercial condo in and around Newington.
Joel Santos with Chapman provides GC and CM services for commercial new and fit ups.
Al Silva with Silva Graphics designs, fabricates, and installs signs.
Gary Gletow with TD Bank piled on to Amy Sharp’s praises of their new business valuation program noting that is noted to have accuracy from 3 to 5 percent.
Hank Beresin with First Street is valued for helping sell companies across New England.
Greg Schena with Masiello has a buyer looking for 4 to 5 thousand sf of retail in the greater Portsmouth area with on-site parking. Either a condo or stand alone and leases may be entertained.
Tom Howard with JTC provides technical geotechnical timely support to be sure your buildings stand up over the test of time.
Chelsea Rogers with Creative Office Pavilion provides interior design and furniture sales.
Ethan Ash with KW Commercial has two buyers. One is looking for 15 acres plus in the Seacoast for commercial and another is looking for 10 to 15 acres from the Seacoast to Rochester, Lebanon, or Sanford for a mobile home park.
Diane Lewis with TD Bank is a solid small lender suited to benefit your borrowers.
Shannon White with Bean Group has a hunt on for 200 multi-family apartments in the Class B category.
Lynne Bagby with Asset Preservation assists across New England and the country with 1031 exchanges and all the nuance noodling that go with them. Lynne was delighted that it appears that a goodly portion of the 1031 program appears to be slated to survive recent legislation proposals.
Bill Jean with Fulcrum Associates from Amherst provides tenant improvement and new construction services across New Hampshire and parts of Maine and Massachusetts. Fulcrum has a developer always looking for land for 100 unit plus multi-family settings.
Peter Hoekstra with Peniel Environmental relayed they remediate mold, fire, and water damages in New England sans Rhode Island and Connecticut.
Marie Degulis with Second Wind specializes in achieving water that is well after the well.
Fred Richards with Masiello is looking for a mixed use Downtown with commercial on the 1st floor and apartments above in the 750K range anywhere in New Hampshire.
Michael Bergeron with New Hampshire Department of Business and Economic Affairs (NHBEA) helps companies expand in and land in New Hampshire.
Dennis Francoeur with RPF has a son with dogs but no grandkids yet. Dennis was not testy but can test your indoor air quality and other environmental factors from their Portland, Northwood, and Amesbury offices.
Kyle Kadish with Advantage Wealth assists with all aspects of 1031 appreciation appreciably.
Jason Settineri with Build-It offers construction management and pre-construction services. Jason has a client looking for 40 to 50 thousand square feet of flex space from Lexington to Billerica that is a purchase.
Kevin Raymond with Optima Bank works at the Pease branch and would love to see you and work with you. Kevin had been with Peoples.
Paul Alfano with Allobar Strategies helps lower taxes by negotiating lower assessed values. They look at your situation at no cost.
Liz Nolan with Allobar Strategies works with Paul and they are paid as a percentage of the savings gleaned. A 20% referral fee is afoot for NHCIBOR referrors.
Russ Doyle with Two International Group thanked CP Management for their fantastic property management over low these many years and oh these many properties.
Eve Hoefle with Two International Group additionally thanked CP Management for being a key component of value creation as well as being totally terrific.
Bob Viel with Remax Legacy has a hunt for multi-family settings up to 1 million dollars with an 8 cap or better.
Dan Barufaldi with DBIDA touted Dover’s rating as the fastest growing and finest find for sweet cities.
Barbara Lizotte with Tobey and Merrill is a certified insurance counselor for commercial lines. Barbara reached out and recognized Doug Indelicato for really truly fully helping a long time commercial client who recently suffered a fire.
Wendy Rayno with Bank of New Hampshire Portsmouth noted their noteworthy assist of non-profits with 1 million dollars donated over the years. Wendy says keep trying if not granted the grant at first.
Bill Johnson with PC Construction finds they’re famous for fine work due to due diligence afforded with employees who are all employee/owners. Bill has a serious and swift buyer of 150 unit pre-permitted mixed use projects.
Max Rogers with GL Rogers from York, Maine has a development going up on Deer Street in Portsmouth that will entail 300,000 sf of Class A space. Investors interested in purchasing some of this pie can ring up Max. There are also 35 parking spots that will be available for a while at 80 dollars per month on a month to month arrangement until the diggers start digging.
Mari Bodi with CP Management gathered that Gather and all have much to be thankful for.
David Choate with Colliers has a buyer looking for a 1,500 to 2,000 sf of cool office space with some wow factor and they prefer to buy. Portsmouth is the target location. Also, for those with investment buyers, he has an off market listing in Dover at 892-896 Central Ave. that is fully occupied and is located between Planet Fitness and Dunkin’ Donuts. A good long term redevelopment play for only $1.5M.
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.
The annual NHCIBOR Christmas Party is always worth the trip from anywhere for all and commences at 5:00 pm on 7 December 2017 at the Manchester Country Club.
Gerry O’Connell was installed as the president of the New Hampshire Association of Realtors. Also, John Jackman is the incoming president of NEREN so commercial brokers are well represented.
Listings
Tony Fallon with Tony Fallon Architecture has had the majority of his 2017 work in the commercial sector across a broad spectrum that constitutes a fun list. There has been still enough room in the schedule to design a home in Tuftonboro for a couple from Chicago. Also, Tony is assisting a developer seeking to solve the economic development problem of talent shortage caused by pricy abodes via mixed use developments with micro-units paired with cowork/cafe/retail. Tony is helping find locations and investors. The developer friend is a seasoned developer from Seabrook Beach who sees building sites of 200 or so units at a time nationwide.
Mark Sullivan with Seacoast Asset Management thanks everyone for the Gather drive contribution again. Mark, Two International, and CP Management launched this charity in 2008. Last year there were 33 companies participating that helped distribute 20 tons of food. This year 44 companies are pitching in. Call Mark to help assure that you take advantage of Vanguard because it is almost free and often overlooked.
Chris Mark with Restore My Floor is a family owned and operated business which has appreciated working around Pease.
Andy Ward with Colliers has a new listing of 6 acres of land in Epping on 125 with 21,000 cars daily streaming by a lighted intersection near the DMV/State Police and NAPA two miles North of Walmart
John Kageleiry with Verium Asset Management authored another article for the NHCIBOR newsletter intended for established brokers and their challenges. John advised calm with some interest rate upticks since the 10 year treasury hasn’t budged and some lending rates have remained the same.
Dave Garvey with KW Commercial has 31 units in York on 2 acres for 5.5M or a 6.82 cap that is nicely well done on a compact site.
Tad Dziemian with Neighborhood Energy has helped many save lots of pennies and millions of dollars and appreciates this forum. This setting helped him launch his business. What was 20 cents per therm this summer for gas is now 65 cents per therm. Neighborhood Energy can usually help you be 3 to 4 cents below the utility.
Vincent Chestnut with Alpha Locksmith suggested gift certificates from your favorite locksmith.
Ellen Bates with Office Interiors has enjoyed working with Optima Bank and likes their beautiful new Dover branch.
Scott Kingsley with Primary Bank appreciates this forum fully as a wonderful group and the lifeblood of commercial business in New Hampshire.
Jay Lee with NAI Norwood has a gas station at 17 Elm across from Elliott Hospital on 1/4 acre going for 729K that you could buy as a present for someone.
Jerry Bazata with Optima Bank pondered using something akin to the boot on parking scofflaws for some wily borrower’s buildings.
Jeff Brown with Cross Insurance has a great team behind him. So though Jeff is the new insurance kid on the block, his backstop is seasoned and sweet. Jeff assured us they can insure in all 50 states.
Jeff Lessard with NAI Norwood has some retail available in Milford and a client looking for restaurants. At Colebrooks, the co-broke is 2 dollars psf.
Steve Geiger with Optima Bank happily serves you from Happy North Hampton.
Amy Sharp with TD Bank enjoyed facing all the new faces.
Jim Gove with Gove Environmental let us know of regulatory changes that are significant. First is that one needs to have the 40 page or so general permit on site for wetlands and alteration of terrain. Second is that ownership changes have to get the notices of ownership change to both the Army Corp of Engineers and the State of New Hampshire. Jim has 4 grandkids.
Jeff Boufford with Boyd & Boufford Insurance helps protect you from the fireswamp of computer malware and viruses with both policies and prevention. Jeff alerted us to a recent ransom situation and what helped was that the client got in touch with the carrier quickly. The carrier was able to then rapidly resolve and gain the release of their frozen computer operations. Beware of document signing requests that are not legitimate.
Hal Kreider with Northwood Economic Development relayed that he recently had a phony request to sign something that he safely dodged.
Robert Cruess with TFM/MSC has the largest structural engineering office in New Hampshire with 12 engineers. They recently got some splash for a piano mill in Boston.
Joe Campbell of North Branch Construction is breaking ground on the new liquor store at the Portsmouth Circle that generates a million dollars a weekend in revenue and has to remain open throughout the build.
Bryan Dubois with Dubois Associates Real Estate and Dubois Appraisals appreciates appraising your appreciating assets both commercial and residential.
Doug Indelicato with Insurecomm works from Portland to Rhode Island to Worcester restoring from disasters of fire, water, and mold while also assisting with storage of good goods.
Caitlin Burke with CBRE has a new listing at 4 Merrill Drive in Hampton that can range from 300 sf to 5,000 sf. There is a new owner and the rates are 14 dollars psf modified gross. There is flexibility on lease terms and plenty of parking.
Joel Santos with Chapman is a project manager in their Manchester office.
Al Silva with Silva Graphics assists from banners to billboards.
Gary Gletow with TD Bank has a party seeking to parlay profits with apartments in the 1.2 to 3 million dollar range from Biddeford to Portland
Hank Beresin with First Street is wired into a caffeine coup with a coffee wholesaler that has e-commerce and two retail stores. Hank also has a headphone company that is 8 years old and doing amazingly well that seeks a cash infusion. Lastly, Hank has a child care in Nashua with 8,500 sf on 2.5 acres on a corner lot where the real estate is more valuable than the business and the business is able to continue to operate for 5 years or so.
Greg Schena with Masiello has a location in Seabrook with 1,500 to 23,000 sf of retail that could also be light industrial.
Tom Howard with JTC provides geotech and environmental services.
Chelsea Rogers with Creative Office Pavilion has offices around New England and New York.
Ethan Ash with KW Commercial has 5,000 sf going for 265K that is a retail offering at Somersworth Plaza with good traffic, good location, and where you can own instead of lease.
Diane Lewis with TD Bank has 4 clients looking for lease with option to buy opportunities. One is a dentist in Brentwood looking for 3,000 sf. One is a podiatrist looking for 2,500 sf. One is a wholesale retailer looking for storage/office from 2,500 to 5,000 sf. The fourth is a veterinary practice looking for 8,000 to 10,000 sf for 1.5 million dollars in the Hudson to Nashua area. They will build or buy something freestanding on 3 acres or so.
Shannon White with Bean Group has 24 industrial acres in Brentwood for sale. All due diligence has been completed including survey, wetland delineation, and test pits
Rick Ostroff with Linear Properties is an owner/operator of shopping centers and retail holdings. They own 86 properties including 20 in New Hampshire and have a pension fund for a partner. They do all cash purchases with quick closings on properties of 2 million dollars and up to no max. They generally buy 100 million dollars in assets per year and have only secured 40 million dollars in assets for 2017. So the hunt is on. They recently bought the Maple Tree Mall in Manchester and are redeveloping 50,000 sf with a new parking lot and some new pad sites on land to the right. Rates are 25 dollars psf in line and 35 dollars psf for the end caps with 6.50 psf for the nets. They are fine with buying things partially occupied that need some tuning up.
Lynne Bagby with Asset Preservation can help you with dancing around the tax filing deadline and gaining extensions for 1031 exchanges.
Bill Jean with Fulcrum Associates is breaking ground on 100,000 sf of self-storage that is 3 stories tall. They are also working on private student housing, 4 surgical suites, BAE, and some housing. Call for counseling on budgets.
Peter Hoekstra with Peniel Environmental is looking for field techs. They will train and need someone small and young that can amble around attics.
Marie Degulis with Second Wind says every building has water and they can keep it clean as wind driven snow. Let them evaluate your equipment and keep you in compliance.
Fred Richards with Masiello in Concord is looking for 3,000 to 4,000 sf of Class B office space in Concord for a cash buyer.
Michael Bergeron with NHBEA can provide confidential work with brokers to show incentives and analytics.
Dennis Francoeur with RPF thanked Bill Johnson who helped him get into the business in the late 1980’s.
Kyle Kadish with Advantage Wealth assists with 1031 exchanges, exits, passive, and removes uncertainties certainly.
Melinda McLaughlin with Build-It is an estimator and gave Marie Degulis kudos.
Jason Settineri with Build-It noted they are an 80 year old construction company and has worked with UNH, BAE, Velcro, and Catholic Medical Center.
Jo Jordan with KW Commercial used to work with FEMA and is enjoying this new venture.
Kevin Raymond with Optima Bank was a restaurant operator earlier in life and so can help with the wild wide world of hospitality financing in a facile manner and proper manners.
Paul Alfano with Allobar Strategies helps increase income on real estate by reducing assessments. In one instance, a 100K reduction occurred that translated to 25,000 more dollars for return on investment and a 1500 dollar referral fee. Paul and Liz are both attorneys.
Liz Nolan with Allobar Strategies gets lots of calls close to the deadlines so says to call in any month.
David Choate with Colliers sought to ally fears of too high taxes from recent valuations in Portsmouth by noting that Portsmouth has the lowest tax rate of any major city in New Hampshire.
Russ Doyle with Two International Group has two spots at their flagship Two International Drive at the gateway to Pease totaling 6,000 sf. Russ noted that back at the beginning of the redevelopment of Pease, Dan Plummer was thinking of starting at a different address and George Bald recommended the Two International site which was a brilliant suggestion.
Eve Hoefle with Two International Group has a lot of experience working with non-profits and can do some assisting with their finance studies.
Bob Viel with Remax Legacy has 125 acres at 547 Main Street in Danville with a conceptual for a 46 lot subdivision going for 950K.
Dan Barufaldi with DBIDA shared that the RFP for the waterfront is due on the 6th of December. Dover is a hot community.
Barbara Lizotte with Tobey and Merrill loves this marketing session.
Wendy Rayno with Bank of New Hampshire Portsmouth works with large and small projects and has participated in some hotel financing. Some loans are as low as 500K and a 51 million dollar deal was approved yesterday. Bank of New Hampshire recently received an SBA award for most improved lender.
Bill Johnson with PC Construction built on their building theme and abilities.
Max Rogers with GL Rogers thanked Wendy for being so good to work with on some of their recent loans and reminded us of their available parking spots and investment opportunities.
Mari Bodi with CP Management thanked Insurcomm and Second Wind for jobs well done and Doug for being a good golfer.
David Choate with Colliers has 14,000 sf in Dover at 131 Broadway for 5 dollars psf NNN. This is a high end woodworking shop with dust collection and spray booth, two docks, and one drive in door. Turn the key for your wooodworking enterprise here. David also has 2,500 sf for 20 dollars psf NNN at 1976 Woodbury Avenue in Portsmouth next to the Dunkin’ Donuts and Lo’s Oriental Market.
Catie Medeiros with Kane has 2,800 sf on the 3rd floor of Commerce Way ready, willing, and able to accommodate you completely.
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, 15 December 2017
In the Third Floor Conference Room of Two International Group’s Building at
One New Hampshire Avenue, Portsmouth, New Hampshire, Pease International Tradeport.
TFM/MSC will be the breakfast sponsor.