19 September 2014 NHCIBOR New Hampshire Commercial Investment Board of Realtors Minutes of Seacoast Marketing Session
Jon Shapleigh and Lou Guevin with Bank of New Hampshire were the breakfast sponsors and White Apron of Dover was the caterer. Bank of New Hampshire is a large local bank that has 13 commercial lenders statewide and 21 branch banks. All decisions are made in Laconia and Jon enjoys being able to have face to face meetings with those making decisions on loan approvals. This is so much better than relying on correspondence and telephones with out of state review of applications. Bank of New Hampshire has 1 plus billion dollars in assets and has a legal lending limit of 17 million dollars for loans they handle alone. With participation they can go higher and they have been around longer than most any other bank getting their start in 1831. Lou announced that he is retiring at the end of the year and getting back into Commercial Brokerage. Bank of New Hampshire is open to expanding with additional banks but are not being set up for a sell out due to their structure.
Cash Buyers
Tony Fallon with Tony Fallon Architecture noted that he and his wife Erin had the perfect antidote to 9/11 this year with the celebrations of their 33rd wedding anniversary and 22nd business anniversary on the day after 9/11. 11-22-33, hike!
Bob Marchewka with One Commercial is looking for 6,000 to 8,000 sf or land to build a building of this size for a food manufacturer that also has a retail component in Dover, Somersworth, or Rochester.
Martha Baroody joined CBRE switching to commercial brokerage after a decade in the residential sector. Martha is on the board of the Matthew J. Rush Foundation and is an avid runner.
Julie Lapham with ENH Power joined us for the first time. Julie has worked in a number of business development arenas including Lindt and Baron as well as launching Turtledove. Julie is now working with an Inc 500 company that offers fixed rate only electrical brokerage contracts.
Jim O’Donnell with 2 The Top Marketing joined us for the first time. He works with his son in building up better web presences for people aptly and pleasantly worldwide. Jim and his son help you find the way to best be found.
Vince Chestnut with Alpha Locksmith has your key needs all locked up.
Jim Schwartz with Jewett Construction offers design/build services from their Raymond launch pad.
Mark Danie with People’s United Bank covers the Seacoast totally tidally.
Mary Ellen Humphrey with Durham Economic Development gladly is taking on her mission to bring Durham to a business friendly status and is not taking the challenge for granite.
John Konevich with Alliance Capital Funding serves up dough from a nationwide quiver of banks and non-banks.
Ute Luxem with Profile Bank has money to lend to people looking for money for real estate or real business opportunities or real equipment or real deals.
Al Silva with Silva Graphics signed that he sells signs.
Dallas Lagerquist with NBT Bank joined us for the first time. Dallas is facile at facilitating fast loans fluidly while being friendly.
Don Marshall with Marshall Associates helps handoffs happen happily with business transitions.
Nick Aube with Avery Insurance illustrated illuminated insurance with inspiration.
Rick Mulvee with Tower Realty Group has a buyer that is always looking for deals with hair on them. They are a true cash buyer and can move quickly but can be very patient and wait upwards of 15 years before moving out of a deal and harvesting their dough. Hazmat and vacancies they find sweet, not scary. Their standard range or sweet spot is 5 to 20 million dollars.
Mark Sullivan with Seacoast Asset Management talked up an event for Veterans Count. 95% of the funds raised makes it to the vets. Mark also thanked David for organizing these meetings and Tony Fallon for capturing the content as well as good humor with apt amplification of the latter. David Choate appreciates Tony keeping the whit whipped.
Ellen Bates with Office Interiors is just back from lovely Paris.
Heather Burr-Carey with ARS Restoration Specialists helps people plan protection and prevention as well as pick up problems.
Jay Dinkel at NBT Bank deals dough.
Timothy Sheedy with Phenix Title Services is tendering offers from the Red Sox for closing services.
Dave Garvey with KW Commercial has his apartment buyers upping the apartment ante to 250 to 300 apartments per deal dealt. Single sites are preferred but portfolios considered.
Marc Carbonneau with Georgetown Bank has a new loan production office that will operate much faster than it took to finish the space.
Bill Jean with Fulcrum Associates keeps costs and walls lined up.
Lou Guevin with Bank of New Hampshire lives in Laconia and is looking forward to returning to commercial brokerage after retiring from the bank.
Jon Shapleigh with Bank of New Hampshire helps with SBA many days and they are always changing interpretations and rules.
David Choate with Colliers has an investor that is not a 1031 buyer and so not in a hurry. They are looking for a place for 750 thousand dollars to be planted that promises promising growth. 10 caps are the target.
Announcements
The 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 24 October 2014 Don Marshall with Marshall Associates is giving a continuing education course on selling businesses that is approved for 2 NH CE credits. The time is 8:30-11:00 am at KW Commercial, 168 South River Road in Bedford, New Hampshire.
Listings
Tony Fallon with Tony Fallon Architecture says to remember the Vets at Starting Home! http://vethousecc.org and shared that he is doing some work for the Vishay factory in Dover by designing a new entry, cafeteria, and toilet rooms.
Martha Baroody with CBRE has a 4 unit in Rye on Route 1 with office, retail, and two apartments going for 689 thousand dollars.
Julie Lapham with ENH Power noted that they are locally based in Auburn, Maine and provide electricity brokering. What makes them different is that they only offer long term fixed price contracts that are level for the life of the contract.
Andy Ward with Colliers highlighted 53 Epping Street in Raymond which is a 10,000 sf warehouse with two docks and one drive in door. It is fully sprinklered, has three phase power, and 12 foot clear height along with good visibility. You can call this yours for $6.50 psf plus utilities.
Jim O’Donnell with 2 The Top Marketing helped a broker in San Diego reestablish their web readings after they moved so people wouldn’t head to the wrong locations. They also set them up with links to other sites that gave their web presence more authority and floated them to the top of the search pages.
Russ Doyle with Two International Group has a bunch of space in the adjacent building to where we were meeting that is topped with the green metal roof. The entire second floor comprising 32,000 sf can be taken intact or to the chop shop. They also have some smaller units on other floors starting as small as 1,100 sf.
Vince Chestnut with Alpha Locksmith shared the joke of a piano player and a locksmith in a bar with the key to the joke being keys clearly.
Laurie Smith with Officeworks is a dealer and space planner for office environments. She works out of the York, Maine office and they have a Burlington, Massachusetts office. They serve Maine, Massachusetts, New Hampshire, and partly into Vermont.
Jim Schwartz with Jewett Construction noted they also have a metal building division that not only puts up new metal buildings but also does repair and replacement of metal panels including switching in insulated metal panels.
Bill Cormier with Hourihane, Cormier and Associates Realty has 4,800 sf at 17 Signal Street for 429 thousand dollars. Bill also has 4,200 sf that is part of Vetter Foundation property with 20 foot high ceilings, big doors, on a secure site, that is good warehouse space near the Rochester Post Office for $4.50 modified gross.
Mark Danie with People’s United Bank does lots and lots of commercial loans in the Exeter and Hampton area for a half million dollars and less.
Mary Ellen Humphrey with Durham Economic Development shared the numbers from her new assignment, Durham. 72% of Durham residents have master’s degrees or more with an average income of 72 thousand dollars per year living in homes that average 300 thousand dollars. Mary Ellen reached out for suggestions and ideas for Durham and loves her new assignment.
John Konevich with Alliance Capital Funding is an independent commercial lending broker who can also help with government guaranteed, C&I and sub-prime loans. John also has a real estate lead. He has a party looking for 50,000 sf of space that is within 20 minutes of Woburn, has 16 feet clear height, and tile floors in a stand alone setting. This is a very active search.
Ute Luxem with Profile Bank has money for the lending to lend to those seeking lending. Ute noted that although bringing Durham to be a business friendly status can seem a distant reality, they are on the move in the right direction and have made some significant progress in the last few years.
Al Silva with Silva Graphics signified that he can help with signs from conception to installation.
Dallas Lagerquist with NBT Bank has some of the same products and resources as the big banks while being more accessible and responsive. She also shared getting a loan closed for a business in Londonderry in 6 weeks flat. Zoom.
Don Marshall with Marshall Associates offered up a sweet smelling offering of a florist for sale in the Seacoast. This business with a 25 year track record has annual sales of 400 thousand dollars and a 189 thousand dollar sale price. Don says it is time to stop, smell, and sell the flowers.
Nick Aube with Avery Insurance said they are looking to buy a small agency to continue their expansion beyond Wolfeboro and Portsmouth. But Nick wants you to tell Don about it first so you can get a commission.
Rick Mulvee with Tower Realty Group has a two story offering that is at a gateway for SNHU in Hooksett that is adjacent to a new 16 million dollar student housing building and a new Internet Education Center for SNHU as well as their School of Pharmacy. The well built building is solid and all the existing tenants are there at will and could be out in 30 days. Part of this great opportunity might do well with a Popovers or the like and Rick says you will like.
David Choate with Colliers noted that Brady Sullivan bought another Manchester building for 19.75 million in cash.
Mark Sullivan with Seacoast Asset Management is a dual citizen of both Ireland and The United States of America. Mark is gearing up to offer investors opportunities in Ireland and will only be representing the buyer side. Mark also talked up Veterans Count again.
Ellen Bates with Office Interiors fended off the teasing about her trip to Paris and shared their 28 year history of success as an office environment furniture dealer and space planning organization. Office Interiors is currently working with a large tenant at Pease whose lease is up in 2015, showing them fit plans of new spaces they are considering.
Ralph Pope with Coldwell Banker has 2,960 sf across from the Holy Grail that is ready to go with all the restaurant equipment and furnishings for 2,900 dollars per month or $239,900 to buy. Ralph also has 1,400 sf on the second floor of a building in Hampton going for 1,000 dollars per month plus electricity which offers good visibility.
Sean Grady with Prudential Financial has a lot of real estate holdings and can talk your talk as well as walk your walk as well as grow your dough.
Heather Burr-Carey with ARS Restoration Specialists informed us of a groundbreaking product they are selling to prevent future mold growth either after an incident or to keep down the incidence of incidents. This is a two step process applied to floor, wall, and ceiling finishes.
Laura Farago with Colliers has an offering at Weeks Crossing in Dover that is adjacent to the very busy Prompto Oil and consists of 1,100 sf going for 1,200 dollars per month. There is a parking lot, an illuminated sign, and good visibility.
Jay Dinkel at NBT Bank is excited about how committed the bank is to New Hampshire and Northern New England. They have recruited a good number of seasoned bankers to join them to serve you confidently. They are also setting up a loan production office in Portland, Maine and have 2% money available for owner occupied of 1 million dollars or more.
Timothy Sheedy with Phenix Title Services has 6 offices in New Hampshire, 5 in Maine, and covers from the Upper Valley in New Hampshire to Martha’s Vineyard with 6 attorneys and 45 other people. They can help quickly wherever.
Peter Gluckler with Masiello Better Home and Garden Real Estate has just listed the Cape Nedick Inn for 1.8 million dollars which has an annual gross sales for dinner only of 1 million dollars. This upscale restaurant has the feel of the Library Restaurant in Portsmouth. There is a huge kitchen and maybe the second floor could be an apartment.
Christine Soutter with City of Somersworth Economic Developmentpassed around a map of Somersworth showing the 79e area with an explanation of the 79e program of deferred assessment appreciation after renovation. Christine also shared a map of the last lot on Malley Farm that the City owns and has brought all services to for another industry to land. She additionally talked up the former Police Station that is right downtown with a brick façade and its own pocket park. They have two interesting proposals coming on this and are open to more.
Deb Lynch with KW Commercial recently made the switch to the commercial side and is working with Dave Garvey.
Dave Garvey with KW Commercial has a campground in Lee with 130 sites, 100 of which are seasonal. 15 are transient and there are septic plans for the other 15 sites. This location on Route 125 consists of 70 acres with 2000 feet of frontage on a pond, a disk golf course, and 180 thousand dollars of equipment. All of this is going for 1.25 million dollars. It is a 10 cap at that price. Dave also has 30 acres in Nottingham on Route 4 that the owner has said it is time for go and so halved the asking price from 250 to 125 thousand dollars. Wow! 18 acres are usable and the price is righter than right.
Marc Carbonneau with Georgetown Bank has a new office at Exeter Crossing whose address is 1 Portsmouth Avenue, Stratham, New Hampshire near Convenient MD and Lindt. Marc can assist with all aspects of construction loans and condo loans keeping developers comfortable.
Bill Jean with Fulcrum Associates has been in business for 25 years and provides the best value early on with budgets for your proformas.
Marie Bodi with CP Management offers 3rd party property management for commercial, residential, and condos. Marie also pointed our attention to a flyer that Kathy Rush had left.
Lou Guevin with Bank of New Hampshire noted that they are the largest independent bank in the state and are 100% New Hampshire based in company and individuals involved. Lou also runs their electronic services division and they can match any such service provided by any bank in New Hampshire.
Jonathan Shapleigh with Bank of New Hampshire is seeing a lot of activity on loans in the Seacoast.
David Choate with Colliers has a beautiful building near Target in Somersworth with 2,700 sf on the second floor of a 5,000 sf footprint building. David also has a new listing coming up in Victory Park in North Hampton with 2 units that have been on and off the market over the years. They are 2,000 sf each and will price out at 60 dollars psf for a sale price and 8 dollars psf for leasing.
Haves and Wants
Tony Fallon with Tony Fallon Architecture is also fishing for work for larger projects for Banwell Architects. Tony shared that, after only a year, The Ogunquit Playhouse received Planning Board approval for a new boarding house bringing their current site near the Chamber of Commerce from a 20 unit facility to a 50 unit resource.
Bob Marchewka with One Commercial relayed the story of David Choate and various Durham officials going into a bar in Durham at Happy Hour and how all were happy but for David Choate until one Durham official noted that he didn’t interpret the Happy Hour as happy and another found happiness to not be a permitted use. All kidding aside, Bob says come on over to Durham Business Landing for land lush along the wide and rolling Oyster River for an inspiring setting for your growing business.
Martha Baroody with CBRE has a developer looking for 5 acres or so in the Route 108 area of Stratham.
Julie Lapham with ENH Power rescued an animal rescue organization from a 3 thousand dollar spike in their electric bill. What was 1 thousand went to 4 thousand because they had gone with a low rate that was not fixed. Sign up with Julie for long term fixed rates and sound sleep.
Andy Ward with Colliers highlighted Unit 11 at 235 West Road in Portsmouth that is an end cap with 3,600 sf and is mostly office with a small high bay area going for $7.50 psf NNN. This is good for a budget conscience client that needs great access to highways and downtown along with 7 private offices, a conference room, and a kitchenette.
Jim O’Donnell with 2 The Top Marketing supports you with online strategies to climb to the top of search engine pages. Jim shared their success with getting a company with 20 retail stores all up and down the East Coast to the top of the search pages for all 20 locations.
Russ Doyle with Two International Group thanked Mark Sullivan for talking up Vets Count and noted that his girlfriend and boss, two different people, are both on the board of this great organization.
Vince Chestnut with Alpha Locksmith noted that, even for buildings with swipe card access, keys are still to be found in furniture, cabinets, and some doors.
Laurie Smith with Officeworks can help with green design and green furniture in a variety of colors.
Bill Cormier with Hourihane, Cormier and Associates Realty passed around a sheet for the American Medical Response building that another party wound up listing. Bill noted it ain’t over until it is over and wants to find a party interested in leasing it and reminded us that we get paid per diem or perhaps.
Mark Danie with People’s United Bank thanked Bank of New Hampshire for the 12 golf balls he won from them at an earlier meeting and allowed that they all have been equitably distributed around various golf course woods and hazards.
Mary Ellen Humphrey with Durham Economic Development assured us that her office is not an oxymoron and trotted out 72,500 sf of available space that Kent White with CBRE has the listing for.
John Konevich with Alliance Capital helps banks with turn downs in a manner that does not jeopardize the depository relationships.
Dallas Lagerquist with NBT Bank congratulated Lou on the pending retirement and reached out to all who may know a branch bank manager for their Portsmouth office.
Don Marshall with Marshall Associates parlayed the play on bar jokes with a joke showing confidentiality is nothing to joke around with.
Ellen Bates with Office Interiors has five interior designers and lots of furniture to sell and covers the covering of windows to boot with an experienced hand.
Ralph Pope with Coldwell Banker has a search on for a State Farm agency for 1,000 sf willing to pay 2,000 bucks a month. Ralph also has a listing at Drakeside Road consisting of 4612 sf with 1612 sf of office that can be bought for $549,900 or leased for $2,300 per month. There are two apartments and a barn.
Laura Farago with Colliers has 3569 sf on a second floor for $12.00 psf NNN with a nice lobby on the first floor but only stairs to the second floor. The offices are large and there is good parking as well as a break room.
Timothy Sheedy with Phenix Title Services, the lawyer in attendance, of course had to participate in the bar joke party and noted that the Durham bar happy hour situation had great potential for a work out along the non-conforming and grandfathered avenues.
Peter Gluckler with Masiello Better Homes and Garden Real Estate has two sites in Wells and two in York with two existing buildings along with an offering on Route One in Kittery near the outlets. On Route 236 near the future NAPA, Peter has a lot and he has a building to be torn down in North Berwick at 60 Elm Street. To top it off, Peter has a 94 unit approval for 55 and older in Eliot that is for sale for 800 thousand dollars. You get 38 acres and all permits and engineering.
Christine Soutter with City of Somersworth Economic Developmenttalked up life on the Malley Farm being not so laid back being good for the industry that needs services but not visibility.
Dave Garvey with KW Commercial shared that Gerry O’Connell is involved with the developing developments in Ireland that Mark Sullivan talked about and said it has great potential for investors akin to the Recoll Management deals. Dave knows of course this is fun for those with Irish kin or a kindred spirit or at bit of whit or gift of gab. Otherwise, just wear something green and you are all set.
Bill Jean with Fulcrum Associates mentioned a group he is volunteering for which connects moms with cancer with one week stays at vacation homes. Anybody with some waterfront or other type of a fun home within a couple hours of Portsmouth that would like to help these families and gain some tax deductions, please go to oneweekfoundation.org. Typically the gifts are for the just off peak times in the shoulder seasons.
Marie Bodi with CP Management illustrated her management magic with the appearance of backup chairs.
Lou Guevin with Bank of New Hampshire shared that they have done a lot of sharing with those in need via an annual auction in December. One of the beneficiaries is the New Hampshire National Guard Chaplain’s Relief Fund.
Jon Shapleigh with Bank of New Hampshire has been honored to help with this too.
David Choate with Colliers thanked Russ Doyle for the former conference room chairs that they donated to A Safe Place where David volunteers. David also spoke of NHCIBOR Cares. David is looking for a spot for Dot’s Flowers in the Exeter area but not downtown. David also has the Conproco building in Dover that is available for sale or lease.
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 17 October 2014 at One New Hampshire Avenue, Third Floor Conference Room Pease Tradeport
The sponsor will be CP Management