18 September 2009
NHCIBOR
New Hampshire Commercial Investment Board of Realtors
Minutes of Seacoast Marketing Session
Thanks to the Sponsor of this meeting:
Lou Guevin, Amy Sharp, & Johathan Shapleigh of Laconia Savings Bank. Laconia Savings Bank is a Mutual Savings Bank with branches covering the State from Gorham to Dover to Bedford. Laconia Savings Bank is one of the largest SBA Lenders in New Hampshire and has two SBA champions on staff. Even in these challenging times, Laconia Savings Bank is experiencing growth with $225 million dollars loaned last year. Laconia Savings Bank can do loans up to 12 million on their own and can go up into the area of 30 million when teaming up with other banks. Laconia Savings Bank’s Electronic Banking is one of the best in the State.
Cash Board
Fred Attalla with Weichert has investors looking for $1 million to $1.5 million from Rochester to Seabrook.
Tony Donovan with Fishman has 2 buyers looking in the $500,000 range in Portland for a small business with 6 to 10 employees.
John Robinson with Magnusson Balfour has a group from the New York & Connecticut area looking for completed 100 to 1000 unit residential communities to buy and operate. They prefer the larger sizes and are fine with either affordable/workforce or private communities with features such as common rooms, swimming pools, and tennis courts.
John Konevich with Alliance Capital Funding mentioned that they do have some high risk capital available that usually runs in the 10% to 16% range for a year and then it is expected that the businesses will have enough track record to enter into standard financing. They are working on a product that would allow the transfer to standard financing to be three years out.
Tracy Emerick with Masiello has some people looking to start a day care business and they are looking for space to lease or buy in the Seacoast area in the 2 to 4 thousand square foot range. They are not particular about the location. It could be in retail or industrial area as far as they are concerned.
Dave Hamstead with Clifton Avery Insurance is a new affiliate member. Welcome!
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Rick Mulvee with Tower Realty Group has a group that is interested in purchasing notes individually and in pools. They are real and someone that Rick has a good track record with. So far they have purchased $50 million worth in New Hampshire. This group meets all FDIC Requirements and typically close the deals within 7 days. Rick also has investors looking for deals with hair on them. Environmentally challenged, low occupancy, Brownfields, in the $5 to $20 million dollar range in New Hampshire. They are not interested in deals in Maine although they have done a little in Vermont. This group operates nationally and are active in Florida, Texas, and Arizona.
Jonathan Shapleigh with Laconia Savings Bank Cash Management shared that Laconia Savings Bank can help with the Back End on Payables and Receivables. Some of their services and technology can save businesses considerable amounts of money.
Bob Marchewka with One Liberty Lane LLC (RJ Finlay) allowed that RJ Finlay is seeking to purchase Industrial & Office Properties that are not necessarily occupied, but do need to be in a good location. RJ Finlay also is looking to purchase un-built, approved residential subdivisions.
Christian Stallkamp with Kane has a new buyer looking for 5 to 7 thousand square feet with a loading dock and 3 phase power. It could be stand alone or a condo setup.
David Choate with Grubb & Ellis has someone looking for a 1 to 1.5 million dollar deal within an hour of Portsmouth. It is OK for it to not be optimal and could be only 50% occupied. David also has someone looking for a small 1000 sf space in Dover for an Insurance Business.
Announcements
The Statewide Marketing Session for CIBOR is on the fourth Wednesday of the month and so will be 24 September 2009 at the SMC Corporation in Manchester, New Hampshire from 9:00 to 10:15.
Maine Commercial Association of Realtors have a similar meeting in the AAA Building on Marginal Way in Portland on the Last Thursday of the Month beginning at 8:30. This months is 24 September 2009.
Bill Jean with Fulcrum Associates announced that the CIBOR Affiliates Green Series will continue next month.
Noel Graydon with Norway Savings Bank shared that the Maine Chapter of the US Green Building Council has some good events upcoming: http://www.maineusgbc.org/
David Choate welcomed word that The Kane Company will be joining CIBOR.
The new listing arrangement (NECPE) is liked quite a bit. Important to keep things updated and to let Dave LaFebvre know if there are questions or concerns. The customer support people have been found to be responsive and helpful. Comps are very important to include.
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Listings
Fred Attalla with Weichert has two acres adjacent to the Super Walmart in Rochester that would be great for a gas station or pharmacy.
Tom McGuirk with Weichert has Guido Murphy’s at Hampton Beach which is a seasonal business including a second floor restaurant and three retail spaces on the ground floor of Ocean Boulevard in the 2200 to 7000 sf range.
Shawn Shambo with Weichert announced that he is going through a name change operation and that we should just think of him as “The Alton Circle.” Shawn is jazzed about this 2 acre site with the sky high traffic count and the Gateway to Lake Winnipesaukee location. So far a liquor store and bank have considered the location as well as someone who thought about putting in a mini mall.
John Valyo with Winsor Brook has 6 Grove Street in Dover near the Train Station. This 30,500 sf mill building is in the heart of Downtown.
Tony Donovan with Fishman has the former Log Home Manufacturing site off of 295 near Portalnd in a new arrangement with the parcel available in pieces. The site qualifies for The Pine Tree Zone State of Maine business incentives.
Dudley Clark with Shanley is marketing Lupo’s in Hampton at North Beach. This is a year round business that is asking $979,000. Lupo’s shows a positive monthly cash flow, has some adjacent property available to purchase, and a gutted third floor that could be fitup for a owner apartment or condo.
Renee Plummer with Two International Group allowed that Great Bay Kids is looking for workers. She also had someone come looking for 3500 to 5000 sf of inexpensive warehouse space with an overhead door. She didn’t have anything to offer but in the event someone does … Renee also mentioned that the 4th Floor of Harbor Place is going to be set up for condos and she has pockets of 1200 to 2000 sf of space available at Pease.
John Robinson with Magnusson Balfour has a building near the Public House in the Heart of Portand that is opening up on the first floor with a successful business taking over the second floor. They are seeking some compatible businesses like a meat shop, coffee shop, or soup shop. John also has 5-10 Main Street in Saco with has a host of nearby chain fast foot restaurants. A small restaurant or take out would be ideal. $350K with 25,000 cars passing by per day.
Julie Porter with Weichert has a confidential listing of a small kitchen design center in Somersworth at 2200 sf which is for sale only at $299K. The owner will consider staying as a tenant for an investor. Julie also has three contiguous properties for sale in Rye near Memories Studios on Route 1.
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Mike Monks with Monks & Company has a 261,000 sf former Tyco building in Exeter. 103,000 sf of the building is single story. The owner is willing to accommodate a wide range of needs and wishes. The roof can be raised, the building can be expanded, the building can be shrunk. It would work for Office, R & D, Flex. Multiple Tenants or Owners could work with different entries and individual identities. Existing ceiling heights go from 12 foot to 26 foot clear.
Beth Shea with CIT shared that the SBA rules are slated to change on the First of October.
Nancy Carmer with City of Portsmouth Economic Development knows of a tree arborist who is looking for 2000 sf to own or lease which must be in the City of Portsmouth. Nancy also asked for patience with the upcoming reconstruction on State and Ceres Streets along with 33. It will be beautiful when accomplished and will make the locations much more desirable.
Noel Graydon with Norway Savings Bank announced, you heard if here first and it’s official, the recession is over. Noel pointed our attention to the Maine Real Estate and Development Association, http://www.mereda.org/ Their event on 28 January 2010 is very worth while. You can see details of this and other events at the website.
Tracy Emerick with Masiello has a health club available for $6 per square foot in Downtown Laconia next to a free 300 car parking garage.
Rick Mulvee with Tower Realty Group has a 40,000 sf Millyard Building in Manchester at 775 Canal Street. Uniquely, this comes with parking. The building was recently a furniture manufacturer and originally was a Locomotive Factory. The original use has resulted in wonderful interiors.
Susan Miltner with Seacoast Business Machines shared that the combined Concord/Manchester/Nashua Business Expo will be held from 3:00 to 7:00 at The Center of New Hampshire/Radisson in Manchester on Thursday 24 September 2009.
Lou Guevin with Laconia Savings Bank has a 14 acre Horse Farm with stables for sale.
Bob Marchewka with One Liberty Lane (RJ Finlay) spoke about the attributes of One Liberty Lane, the 100,000 sf former Fisher Scientific Headquarters. There are going to be 2 rooms set up for conferences with one of them 3000 sf which can hold 160 people. One room was set up as training room and one was designed for a function room. There is a day care center on site as well as a restaurant, fitness center, and heated garage.
Christian Stallkamp with Kane has 20 Commercial Drive in Brentwood which is 7000 sf with a very high clear height. There is no attached office building yet but the current owner is willing to build such to suit. The rate is $6 triple net.
David Choate with Grubb & Ellis has 1976 Woodbury Avenue next to Dunkin’ Donuts which is 2580 sf and is going for $14 psf at this 25,000 car per day counted in 2003 which is sure to be more now. The visibility is terrific.
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Needs and Wants
Fred Attalla with Weichert has the Samuels Mini Mart and Gas Station Near the old Yokens, Louis Georgopoulos’ site near the Lafayette Road Market Basket, a Route One Restaurant in Hampton, and The Seabrook Village Market all at good numbers.
Tom McGuirk with Weichert announced that Yankee Trader and Points East are going to merge all under the Weichert banner.
John Valyo with Winsor Brook has a 50,000 sf portion of the Mills in Dover that used to be a call center and has a wealth of communication lines and so would work very well as another call center or tech office. John also has 11 acres on Route One in Scarborough with 2 office buildings for $799,000.
Ralph Pope with Coldwell Banker has 3 small offices over the Page Restaurant. There have been a ton of inquiries. The offices are 550 to 1250 sf and are a great deal with taxes an utilities all included. Ralph also has a foundation in Rochester ready for someone to finish and a home near the ocean available in the Summer for $3,000 per week and for sale at $698,000.
Dudley Clark with Shanley has Market Square News in Portsmouth for sale. 800 sf for $80,000.
Renee Plummer with 2 International Place has 75 New Hampshire Avenue coming to completion which is green and LEEDS certified. There are 15,000 sf available on the left side on the first and second floor.
John Robinson with Magnusson Balfour has a development with 300 approved units, 189 of which could be built quickly. There is 2000 sf of lake front and 350 acres and up to $3.5 million of owner financing available of the $5.5 million dollar price. John also knows someone looking to buy branch banks that become available.
Julie Porter with Weichert is marketing 130 Central Avenue in Dover which will have 5,000 to 6,000 sf on first floor. The owner has hired Lisa DeStefano Architects to renovate and divide the building. Julie also has 172 acres for sale in Barrington that could possibly have a 40 to 50 home subdivision.
Mike Monks with Monks and Company has a start up company looking for 5000 sf of warehouse space in the seacoast. Tailgate dock is fine and tenant at will is the arrangement sought.
John Konevich with Alliance Capital has someone with 20,000 sf available for either a short or long term lease in Wilmington, Massachusetts near Andover.
Nancy Carmer with City of Portsmouth Economic Development shared that the Planning and Zoning Ordinance Update Hearings are being held and shortly the new regulations will be in effect. Particular attention was drawn to the Gateway Zones on Lafayette Road as well as Downtown and the Parking Credits.
Tracy Emerick with Masiello has a 2000 sf shop with 2 bed unit for sale in Northwood for $450,000 and 8 acres for sale in Chichester.
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Lou Guevin with Laconia Savings Bank announced that Laconia Savings Bank is interviewing candidates to be a Commercial Lender for Laconia Savings Bank in the Bedford & Manchester Area.
Bob Marchewka with One Liberty Lane (RJ Finlay) described the beauty of One Liberty Lane and announced the rate of $25 psf includes everything including taxes, common areas, air conditioning, heat, and parking.
David Choate with Grubb & Ellis is looking for a spot for Planet Fitness in the York/Wells/Scarborough area. The needed space is 10 to 12 thousand square feet with 13 foot clear. They don’t pay a lot but will sign a 10 year lease. David also has someone looking for 10,000 sf of space in the 125 Corridor.
Note from Tony Fallon Architecture: These are what I understand people to have said at this meeting. Please contact agents to verify and clarify.
Next Meeting is Friday 16 October 2009 at
One New Hampshire Avenue Third Floor Conference Room
Pease Tradeport
