Written by: Tony Fallon A r c h i t e c t u r e
501 Barn Door Gap, Strafford, New Hampshire 03884-6233, 603 269 3206 fax 603 941 0409
Thanks to the two Sponsors of this meeting:
David Choate with Grubb & Ellis Coldstream Real Estate Advisors is a full service commercial brokerage whose main New Hampshire office is in Bedford with a branch office that David works out of in Portsmouth. Grubb & Ellis Coldstream is focusing on trying to hire another person for Strafford County.
Doug Frizzell of UBS shared that they have a number investment programs that are FDIC protected with only $1,000 minimums. With these, if the stocks go up with the investment, the investors get what the increase is. If the stocks go down, the original investment is returned in full with no loss. If there is interest over 40%, then the issuing bank keeps interest over 40%. They also have currency CD’s that are 100% principal protected and last from 3.5 to 5 years.
Cash Board
Peter Taylor with Anchor Property Management has someone looking to invest 250 to 500 thousand dollars in a long term fully leased property. He is not sure if they would be game for using that to leverage up and buy something of greater value.
Bob Anderson with Prudential introduced his guest, Tony Silva.
Tony Silva with Amcorp Management works on cost segregation studies.
Jeff Hiatt with Performance Business Solutions also assists with cost segregation studies.
Ralph Pope with Coldwell Banker has someone looking for a space to accommodate an Expressive Dance Studio in the 350 thousand dollar range.
Joe Friedman with Brooks Associates is looking for sale/leasebacks with cap rates 8% and up in Southern New Hampshire and Northern Massachusetts.
Al Silva with Infinite Imaging can produce signs, print matter, and banners.
Christian Stallkamp with Kane has Suite 205, a medical condo at the Jackson Gray Office Building in Portsmouth on Borthwick Avenue, with a 4 ½ year lease and 12.36 cap rate. He also has a 16,692 sf Epping Road property in Exeter with 10 years left on the lease with a 9.72 cap rate tenant.
Rick Mulvee with Tower has a DC based international group that is interested in acquiring large retail portfolios anywhere in The United States of America. Very large.
John Konevich with Alliance Capital Funding has been able to assist banks with turn downs.
Bob Viel with Remax has someone looking for a mobile home park in Maine in the 2 million dollar range. Andy Fleisher with Shanley has an idea for Bob.
Bill Jean with Fulcrum is interested in doing tenant improvements.
Susan Miltner and Seacoast Business Machines have 27 years of experience serving the seacoast.
Tad Dziemian with White Column Solutions assists with saving companies with power, data, and telephone. They have saved one company in the 6 figures and another in 5 figures.
Steve Oles with MSC Civil Engineering is in a building for sale near Portwalk being offered by Grubb & Ellis Coldstream. They are a fully capable civil engineering firm and can handle surveys, subdivision layouts, septic plans, and site plans.
David Choate with Grubb & Ellis Coldstream has an HVAC contractor looking to purchase 5000 sf of industrial along the 95 corridor in New Hampshire. They can go down to 3000 sf. Please bring things forward particularly if it is not in the database.
Announcements
The Maine Commercial Association of Realtors is having its February Marketing Session on 25 February 2010 in Portland at the AAA building on Marginal Way at 8:30.
The CIBOR statewide marketing session will be on 24 February 2010 from 9:00 to 10:15 am at the Greater Manchester and Nashua Board of Realtors at 166 South River Road in Bedford, New Hampshire.
The Green Series next date is also 24 February 2010 at 9:00 at the PSNH Conference Room at the end of the Millyard. The presenter is Bill Jones.
Tony Fallon with Tony Fallon Architecture, whose wife and all three children have had Lyme Disease, thanked those who had encouraged their New Hampshire Representatives to pass the Lyme Disease Bill HB 1326. This bill addressed a difficult situation wherein doctors are harassed for diagnosing and treating for long term Lyme Disease. It also addresses the challenges with insurance companies endeavoring to define long term Lyme Disease out of existence so as to avoid paying claims. The 300 to 56 House vote overturned an 18 to 1 committee vote. The system can work! If you are game to voice support for this bill as it goes to the Senate, and hopefully to the Governor, that would be appreciated. Several people shared their experiences with this challenge after the meeting and we compared notes.
Bob Anderson with Prudential asked if anyone was interested in people getting the option of having streaming video of Educational Programs for 5 or 10 dollars per Education Session.
Bob Viel with Remax shared that Chris Norwood recently announced a CCIM 2 day class at the Holiday Inn by the Bay in Portland.
Listings
Bob Anderson with Prudential has 6000 sf Industrial space in Exeter with 16 foot ceilings and a ground level dock with 1000 sf of it in office space.
Ken Berry with Berry Surveying is on the board of directors for the Barrington Chamber of Commerce. He announced a 4 June 2010 golf outing at Nippo Lake for 90 dollars per.
Jeff Hiatt with Performance Business Solutions generally works through accounting firms to serve clients in cost segregation.
Sean Fitzgerald with Centrix Bank confirmed rates are around 6% or so for many commercial deals.
Marc Carbonneau with Ocean Bank has money to lend for something that works with the right cash flow and loan to values. He is prepping both owners and sellers for 10% to 20% lower appraisals than what is agreed upon price wise. Sometimes they meet half way with lower price and more money brought to the table.
Greg Gosselin with Remax has 4300 sf that was bank owned.
Ralph Pope with Coldwell Banker has a residence in Strafford with a separate catering business that is for sale.
John Crisp with Federal Savings Bank reported that they have had their appraisals coming in pretty close to the expected value of the deals.
Joe Friedman with Brooks Properties has 8900 sf on 111 in Derry near 93. They are thinking a wellness center for this second story space. There is also a nearby mini golf and event center.
Sandy Martin with Martin Family Enterprises has a green salvage yard that has been owned by the same family since 1954 that is for sale. The sale price is 1.6 million and separate price for the inventory currently on hand is an additional 600 thousand dollars.
There is 220 feet of frontage on a state highway and 19 acres.
Andre Tremblay with TD Bank noted that they were the only bank on the NYSE in The United States of America that is AAA rated. There are only three other banks worldwide that have achieved the same rating. They service most states between Maine and Florida and have seen that property values are still on the decline in general.
John Tuten with Profile Bank noted that they are getting more aggressive in lending with the addition of two more commercial lenders bringing the total to three. He is finding that his buyers and sellers are pre prepped for low appraisals.
Al Silva with Infinite Imaging can assist with logos too.
Ellen Bullard with CP Management has experienced property management teams for commercial and residential including HUD.
John DeStefano with DeStefano Construction does construction management for new and redo. They are working with Waterstone on the rebirth of the Southgate Plaza in Portsmouth. Additional tenants are being sought and you can go through John to find out about what’s available. The same client has a development in Epping near 125 and 101 where they are also seeking additional tenants. And another site they are seeking tenants for is the project about to get under way to replace the Kline’s building in Portsmouth.
Rob Spalding with Pensco Trust can help tap retirement dollars for investments. He and Doug Frizzell have teamed up on projects like individual solo k’s. They have upcoming seminars. There is one in Boston on June 10th and 11th. Also on every Wednesday they have wealth building webinars. And on 23 September 2010 in Boston they have a seminar on self directed investing.
Barb Dunnington with Coldwell Banker has a small concept multi unit near the Lee Circle for $350,000.
Rick Mulvee with Tower has listings in the Manchester Millyard for office, retail, and industrial.
John Konevich with Alliance Capital Funding has projects people are trying to get out of in Cambridge and Everett, Massachusetts as well as a self storage project to be built on 495.
Tracy Emerick with Masiello has 22,000 sf that would probably go for health care at 6 dollars per sf in downtown Laconia. Tracy also has a 5000 sf office with an apartment above in South Hampton.
Bob Viel with Remax has 1200 sf in Farmington for tanning and exercise with 34 parking spots as well as a 6 office spaces for 1175 per month.
Bill Jean with Fulcrum would be happy to help with cost estimates.
Andy Fleisher with Shanley has 122 State in Kittery that used to have a medical supply with 2200 sf. Andy also has 1500 sf available at 30 Mirona Road in Portsmouth.
Doug Frizzell with UBS plugged the seminar that Rob Spalding will be putting on noted above.
David Choate with Grubb & Ellis Coldstream has 14 Patterson Lane in Newington for sale or lease. It was originally built for Montgomery Ward and don’t get hung up on the pricing. There are 4 loading docks on 1.96 acres with 30,007 sf with 3,580 sf of that being office.
Needs & Wants
Tony Fallon with Tony Fallon Architecture knows someone who owns a large tract of land next to the high profile Lake Winnipesaukee Golf Club with preliminary approval for home lots. Owner is a contractor who lives on site, is planning a green development in a few years, and is casually looking for an investor to join in. Mountain Views too.
Bob Anderson with Prudential has 2200 – 4700 sf office in Raymond with gorgeous views attached to a historic older 2500 sf home. There are 6 parking spaces. The income residential unit is on the Lamprey River.
Tony Silva with Amcorp can assist companies with increasing cash flow.
Tom House with THA Architects has someone looking for 2 to 10,000 sf along the 95 corridor from Kittery to Newburyport to create a training school for weatherization. Tom also has someone who is putting a senior facility up in Plaistow who is looking for additional investors. 180 independent living, 80 assisted, 40 full care is the mix. The property has been purchased. Tom also knows of someone putting 9 commercial condos on 1.87 acres in Stratham.
Marc Carbonneau with Ocean Bank has a line on some environmental insurance for brownfield properties.
Greg Gosselin with Remax has a barn and house in Cape Neddick and the old wicker shop in Wells.
Ralph Pope with Coldwell Banker has an owner with a small lot on the Somersworth side of Weeks Crossing on Route 9 that is adjacent to two smaller lots that could be picked up although one of those just went back to the bank. Very high traffic area.
Joe Friedman with Brookstone has the former Court House in Exeter on 1 Hampton Road with the following space availabilities: 640, 1000, 1500, 3000, and 5000 square feet. Joe also represents a lot of space along the 93 corridor on both sides of the border of New Hampshire and Massachusetts.
Sandy Martin with Martin Family Enterprises has a marina for sale where the owner is willing to hold paper for this North Shore of Massachusetts 120 slip 5.5 million dollar deal.
Andre Tremblay with TD Bank can help with deals that need creativity such as floating rates over life of the loan.
John Tuten with Profile Bank noted they are a 102 year old bank.
Ellen Bullard with CP Management has a 24/7 maintenance staff and they can assist with lease negotiations too.
John DeStefano with DeStefano Construction would be happy to help with new construction fit ups and is doing HUD Green Housing Energy Audits.
Rob Spalding and Pensco Trust are in the old police station on Penhallow Street.
Rick Mulvee with Tower is looking for loan pools and bank notes.
John Konevich with Alliance Capital is looking to source hard money with rates of return of 14 to 16 percent and the deals range from 150,000 to 500,000 dollars. They are all real estate secured and one has one user. This is an immediate requirement.
Tracy Emerick with Masiello Group has a (4) 1 bedroom apartment and retail building that is in foreclosure. “What would you like to pay?” Tracy also has a 9 seat hair salon on Route 1 in Hampton.
Bob Viel with Remax has a 25 acre parcel on a Lake in Shapleigh, Maine. Could be many things including a marina.
Bill Jean with Fulcrum has someone looking to aquire 50,000 to 100,000 sf between Manchester and the border. They would prefer a stand alone situation and are looking to lease.
Tad Dziemian with White Columns Solutions can work with residential savings as long as the power is 150 kw demand minimum.
Steve Oles with MSC Civil Engineers offers to help your clients make money with a free initial site walk.
David Choate with Grubb & Ellis Coldstream has 41 Old Dover Road which contains 16,000 sf and is a former machine shop. It has been recently cleaned up and the price just dropped from 650 to 550 thousand dollars. The ceilings are a bit low but it is good flex space. David is also working with the Christmas Dove with 45 acres that they have at the intersection of Routes 9 and 125 in Barrington where you can spend the day! They are hoping to build out a planned town center and are looking for tenants or a developer with vision and creativity.
June, July, and August are available for those wishing to sponsor the breakfasts.
Note from Tony Fallon Architecture: These are what I understand people to have said at this meeting. Please contact people referenced to verify and clarify.
Next Meeting is Friday 19 March 2010 at
One New Hampshire Avenue Third Floor Conference Room
Pease Tradeport
