24 July 2019
NHCIBOR, New Hampshire Commercial Investment Board of Realtors
Minutes of Statewide Marketing Session, which occurs the 4th Wednesday of every month January – November. No meeting in December.
Matheson Education Training Room, 168 South River Road, 2nd Floor, Bedford, NH
Marie Degulis with Secondwind Water Systems were this month’s sponsor and we thank them for the delicious breakfast provided. Founded in 1989, Secondwind Water Solutions is a full-service water treatment company, providing solutions for homes, businesses, schools and communities throughout New Hampshire, southern Maine, Vermont and Massachusetts.
Cash Buyers
Jess Hepler with William & Reeves is the Director of Retail Strategy and has a couple cash buyers. The first cash buyer is looking for 2,500-3,000 sf of office space to be used as a family consulting service, while at the same time combining two office spaces into one. He has another cash buyer looking for a pad site with a drive thru in Nashua, NH. Lastly, he has a cash buyer looking to purchase around 4,000 sf of retail space preferably in Manchester, NH.
Lindsey Goodrich with Berkshire Hathaway has a cash buyer looking for a retail strip center around 10-20k sf. The buyer is looking in the Sothern NH/ Mass area.
Joe Friedman with Brooks Properties has a cash buyer looking for development land in the I-93 Corridor.
Chris Pascucci with Masiello Commercial has a net lease investor looking to spend up to 2 million dollars on office space, preferably with tenants occupying the space already. He also explained that Masiello Commercial is now expanding by way of geography and strictly commercial real estate, which means it has branched out and no longer part of Better Homes and Gardens.
Bill Jean with Fulcrum Associates is a construction management firm based in Amherst, NH that has been building a solid reputation in the construction industry since 1989. He does have a cash buyer who is looking to purchase 100+ multifamily units.
Romeo Danais wanted to mention that last week he had a cash buyer sign a lease for 109,000 sf. However, he is still a cash buyer that is looking for industrial property in the southeast quadrant of the state. He is looking for “flag lots” not to far away from major highways.
Listings
Jess Hepler with William & Reeves is the Director of Retail Strategy and has 4 office spaces available for lease in Amherst, NH. The spaces vary in size from around 1,500- 3,000 sf, and 30,000 cars drive by daily.
Lindsey Goodrich with Berkshire Hathaway has a couple listings available. The first listing(s) is currently being built in Nashua and is known as “capital place”. The new development is anticipated to be 16,000 sf, and offers flexible floor plans ranging from 2,000 sf to 10,000 sf. Capital place is located on Amherst Street and surrounded by a bunch of other major retailers. Her other listing is 45 acres of mixed-use commercial land on Rockingham Road in Londonderry. The land is zoned for almost all retail and professional uses, while at the same time being visible from I-93 and RTE 28. The land has a traffic count of 70,000 cars per day.
Joe Friedman with Brooks Properties has a listing available on 4 Northeastern Blvd in Salem, located right off exit 2 on I-93. The listing is 17,500 sf and the lease rate is $17.50 per/sf. This is a large open space office with a kitchenette. Joe also has a few more listings available in Salem, so if you are looking for space in that area he is your guy to speak with!
Ron Perry with Berkshire Hathaway has a couple listings available. The first is 3,000 sf of retail space on Second Street in Manchester. He also has more retail space that varies greatly in size in Londonderry.
Kimberly Matson with Better Homes and Gardens is a licensed realtor in MA, NH, and ME. Her first listing is for a 6,390 sf commercial building in the heart of Claremont, NH. You can’t find a better location than this in Claremont and has a traffic count of 22,000 cars per day. It is valued at $394,000. The second listing is for a 6,554 sf commercial building in Swanzey, NH. This is a 3 story commercial building that is available for the first time in decades. It has a high traffic count and located just south of Keene, and is valued at $350,000.
Jamison Bibaud with Masiello Commercial has a few listings available with his business partner Chris Pascucci. The first is an industrial property for sale or lease on Lake Street in Nashua. There is anywhere from 4,500-12,500 sf available and the sale price is $500,000, compared to the lease rate which is $7.50 per/sf modified gross. This property has 8 loading docks, access to a freight elevator, and elevator access on each side of the building. His second listing is for 5,000 sf of retail space in Nashua, with a lease rate of $19.40 per/sf NNN. This is a primetime location in Nashua with great signage visibility and has a traffic count of 30,000 cars a day.
Laura Nesmith with Colliers International has a couple listings available with her business partner Doug Martin. The first is a 1,800 sf office condominium located in Bedford that is listed at $215,000. This property is comprised of a reception area, a conference room, kitchenette, a large open area, 3 offices, and 2 restrooms. Her second listing is professional office space on South River Road in Bedford (across the street from Bedford CIBOR location). This space is 2,000 sf and has a lease rate of $14.50 modified gross. The last listing available is for warehouse/distribution space located in Manchester. The building is 20,740 sf, has 4 loading docks, and has a lease rate of $5.95 NNN.
Chris Pascucci with Masiello Commercial has a listing available on Nashua Street in Milford, which is valued at $325,000.
Louise Norwood with NAI Norwood Group has a couple listings available on South River Road in Bedford (same street as Bedford CIBOR location). The first is a professional office suite that is 7,500 sf and priced at $865,000. The second listing is 2,878 sf of office space and has a lease rate of $13.50 per/sf NNN. Both of these listings are located in high traffic areas, have easy access to I-93 and I-293, and have ample parking. Her last listing is for office space on Cedarwood Drive in Bedford, which has 3 different units available. Two of the units are 5,639 sf of office space with a lease rate of $17.50 per/sf modified gross. The other unit is 1,655 sf with a lease rate of $16.75 per/sf modified gross. All of these units have ample parking, prime location, and performance zoning.
Haves, Wants, & Affiliates
Debra Davis Thum with Bank of New Hampshire is a Commercial Loan Officer and the Vice President of the company. At Bank of New Hampshire, they take the time to understand you, your goals, your current financial situation and your anticipated financial needs. Debra mentioned that along with cash management and commercial loans, she additionally gives lines of credit for equipment, machinery, etc.
Amanda Savage with North Branch Construction is a Business Development Manager. She mentioned that they have never failed to meet a contractual deadline. At this time she has no cash buyers, but North Branch is starting a 20 million dollar project in the upcoming months on Elm Street in Manchester. Lastly, in November she brought up the Plan NH Golf outing, in which she and a few other members are on the board. Seek Amanda for more information regarding the golf outing!!!
Anne Weidman with JSA Architects wanted to mention that their company specializes in accessibility and universal design. We should also mention that JSA Design sponsors Access Navigators, which is a non-profit organization that focuses on making buildings around New England ADA accessible for all. They visit local businesses with the goal of deterring: Is the entrance accessible? Is there an accessible restroom? Is there parking nearby? This is a great organization and we suggest checking out there website!
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. This is SFC Engineering 25th anniversary!
Steve Mangekian with Alpha Building Inspections is looking to speak with lenders about bank draw inspections. Alpha Building Inspections is a 6-inspector company that performs residential inspections all over the state of NH and Southern ME. Also, they perform Commercial Inspections all throughout New England.
Dylan Cruess with TFM Engineers provides full service developmental for retail, industrial, energy, office, institutional, and residential properties.
Marilyn Charbonneau with NBT Bank is a Business Development Officer. NBT Bank operates through a network of 150 banking locations with offices in NY, PA, VT, MA, NH, and ME. They know their customers, communities and the people in them and are proud to be partners helping them reach their goal.
Ben Brown with Landry/French Construction strives to provide an environment where their employees flourish. They pride themselves on Passion, Integrity, Accountability, and Safety. Ben mentioned that have an extremely low injury rate (0.65%) because their main goal is to get everyone home safely at the end of the day and back to their families.
Dave Fenstermacher with VHB is the Director of Land Development. VHB offers integrated services for land development projects in NH. They offer services such as land surveying, landscape architect, parking and roadway design, along with many other things. Check out their website for more information!
Chris Webb with Invictus Spray Foam is the owner of the company. Located out of Southern NH, Invictus Spray Foam is the number one source for spray foam insulation solutions in Sothern NH + ME, and Northern Mass. Applicable to both old and new construction, this environmentally-friendly, energy-efficient foam is a great choice for every structure.
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.
Chris Kelly with Red Thread’s furniture team has the expertise and vast portfolio of options to help you create high performance work settings.
Heather Rowan with Kimball Furniture wanted to bring to our attention a new trend they are seeing in the industry. A lot of companies are trying to create a more residential feeling in commercial spaces, due to the impact of millennial in the workspace. Kimball furniture can help you create a “soft commercial” space, or as they like to call it “sophisticozy”.
Vince Chestnut with Alpha Locksmith brings professional security to your home or business. He showed off his new door locks, which don’t require any keys. This can help all of us avoid “I’m halfway up to my lake house for the weekend and forgot my keys!!”
Richard Goulet with Berkshire Hathaway Verani Realty is an Advisor in the Commercial Division. This was his first CIBOR meeting and looks forward to future ones.
Marie Degulis with Secondwind Water Systems deals with water quality issues for all types of properties, because water quality matters for all different types of businesses. This is also their company’s 30-year anniversary.
Michael Farinola with NH Commercial Appraisals (NHCA) attended his first Bedford CIBOR meeting, after attending the Seacoast meeting for years. NHCA is a real estate appraisal company dedicated to providing accurate and affordable commercial real estate appraisals in a professional and timely manner. They are a veteran owned and operated company that strictly does commercial appraisals.
Murray Beaulieu with Boosted Profits offers tax remediation services. Murray is passionate about helping CPAs find more revenue from existing clients without spending additional time or resources. He works with top accounting firms who are frustrated with the commoditization of the industry.
Derek Lick with Sulloway & Hollis Counselors at Law is the chair of the Litigation Department. He concentrates his practice in litigation, including providing legal defense to insured parties sued in state and federal courts and representing clients in disputes involving personal injury matters, commercial disputes and disputes involving construction, development and real-estate projects, and construction payment and performance bond claims.
Nancy Parker with Resilient Buildings Group is the Energy Efficiency Program Manager. They provide customized consulting services to reduce your energy costs, improve the comfort and durability of your building, and reduce greenhouse gas emissions.
Leighton White with Leighton A. White INC offers complete site work services. When you choose them to complete your commercial, municipal, industrial or residential site work project, you get more than the job done right. Leighton mentioned the company is now getting involved with materials like sand, concrete, etc. They even shipped a ton of sand down to Boston recently.
Scott Kingsley with Primary Bank provides commercial, industrial, and residential loans with a lending limit up to 3.7 million. Primary bank has been in business 4 years and they are excited to announce a 3rd office opening soon. Scott has also been organizing the NHCIBOR summer mixer, which takes place August 8th from 5:30-8:30 at the Brookstone Park Event Center in Derry. He wanted to thank all the sponsors for their donations, along with Stefani Croteau for all the work she has done for the event. Buy a ticket; this is a great event with many silent auction prizes!!!!! All proceeds benefit CIBOR cares.
Drew Carter with RPF Environmental provides environmental testing and consulting services across New England. Their services include indoor air quality, mold inspection, industrial hygiene & safety, along with many other things.
Adam Johnston with Cambridge Trust offers private banking, wealth management, and commercial banking. They aim to deliver the most important return of all – trust!
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 9:00 – 10:15 am on the 4th Wed. of the month 28 August 2019, Matheson Education Training Room, 166 South River Rd., 2nd Floor, Bedford, NH
https://www.nhcibor.com/events/2019-07/