20 February 2015
NHCIBOR
New Hampshire Commercial Investment Board of Realtors
Minutes of Seacoast Marketing Session
John Hall and Ute Luxem with Profile Bank were the breakfast sponsors. John said it is a pleasure to sponsor the breakfast and noted that Profile Bank is a mutual bank based in Rochester. They have branch offices in Somersworth, Alton, and Sanbornville along with the retail bank lobby in Rochester that is part of the headquarters. This is a locally managed bank with a local board of directors and all decisions happen in the Rochester office. John and Ute do most of the commercial loan origination. Justin Avery in their Alton office is beginning to originate some commercial loans also. Profile does residential lending too and have one other arm that allows them to offer insurance.
Cash Buyers
Tony Fallon with Tony Fallon Architecture is licensed in Maine, Massachusetts, and New Hampshire and assists with commercial and residential, new and redo. Tony can help with tenant fit up look sees, lobby spiffing, and facade make overs. Tony plays hockey with Bill Green, an agent with Century 21 in Kittery whom Tony invited. Bill has a unique skill set including, Food Service, IT, Publishing, and Real Estate.
Bill Green with Century 21 Newson has had the former Queen of Peace Church in Berwick for sale for a couple of years. This church was originally a barn that was added onto and has a Mansard styled rectory with it. All of this is just across the street from the waterfalls and Somersworth. The site is just behind Kennebunk Savings Bank in Berwick and very close to the Prime Tanning site which is undergoing a lot of development proposals. Also, a waterfront park across the street is on a master plan. The parcel is for sale for 499 thousand dollars and Bill has done some redevelopment scenarios that would cost 1.5 million and need a loan of 1.2 million. Come be on the ground floor of the Berwick revival in earshot of the rushing water.
Bob Marchewka with One Commercial is looking for something very similar to what Bill has in Berwick, but the buyer wants to be in New Hampshire from Exeter to Somersworth in the general Seacoast of New Hampshire. The hunt is for 6,000 to 8,000 sf of restaurant, food service, and retail food sales space.
Nathan Dickey with KW Commercial is looking for smaller tracts of land to do 10 lot and up subdivisions from Wolfeboro south in New Hampshire. They are also looking for a smaller strip mall and will spend up to 10 million dollars.
Arthur Pappas with KW Commercial is looking for strip malls in Maine or New Hampshire up to 2 million dollars.
Ken Lambert with Exterior Designs with offices in Manchester, New Hampshire and Westport, Maine offers exterior finishes of synthetic stucco metal cladding, and siding along with steel studs and drywall.
Andy Ward with Colliers has someone looking to set up an auto detailing facility and Woodbury Avenue would be an ideal location. 3000 sf and 3 bays would be great along with 25 parking spots or so. They are willing to look anywhere on the Seacoast in a retail or commercial corridor.
Bryan Dubois with Dubois Associates Real Estate and Dubois Appraisals remains fishing and hunting for self storage facilities or land with approvals for the same.
Jim O’Donnell with 2 the Top Marketing helps you climb quickly to the top of the search engine summit.
Ralph Pope with Coldwell Banker has a specific search on for an older historic type building in Durham to house a nano brewery. David Choate suggested the Mill Pond Center.
Mary Driscoll with The Law Office of Mary Driscoll and Fleet Street Settlement is an attorney focusing on commercial real estate transactions who works wonderfully well for the buyer, seller, or bank in Maine and New Hampshire.
Robert Cruess with TF Moran recently merged with MSC Engineering in Portsmouth. Robert is looking forward to doing more in Portsmouth.
Jerry Bazata with Newburyport 5 Cents Savings Bank invited any investors interested in a new hotel concept coming to New England to attend an informational meeting at the 100 Club in Portsmouth on Thursday, 26 February 2015, from 9:00 to 11:00 am. The operator is Great American Hotels.
Vince Chestnut with Alpha Locksmith likes to make people happy by bringing professional security to your door.
Al Silva with Silva Graphics can help with your Springtime trade show booth. See exhibitors-handbook.com.
Ellen Bates with Office Interiors quickly assists with space planning and contract furnishings.
Bill Jean with Fulcrum Associates from Amherst, New Hampshire serves up Construction Management services in Southern Maine, Northern Massachusetts, and all of New Hampshire.
Vicky Gray with Federal Savings Bank announced her joining Federal Savings Bank and her joy at not having to commute to Massachusetts. After looking around for quite a while, Vicky found a great bank of which she is delighted to join the team.
Lynn Bagby with Asset Preservation Inc. assists with property 1031 exchanges throughout New England.
Nick Aube with Avery Insurance served up the story of the month in that he recently gave up white bread and so had to pass on the pizza for breakfast.
Susan Scanlon with Commercial Properties has a hunt on for strip malls in Portland as well as other locales in Maine and New Hampshire. The buyer is interested in ones with a national credit tenant and will go up to the 13 million dollar price point. They are also looking for pad sites and out parcels.
David Hodgdon with PCG and ClicknFix is seeing a bump up in business from all the snow. Unwanted water coming in from ice dams dancing on computers has caused havoc. PCG has been able to get some off site servers serving these situations.
Ray Dugdale with Optima Bank is Vice President of Commercial Lending and is enjoying this balmy weather.
Christine Soutter with City of Somersworth Economic Development trotted out the available former police station that could be a nice mixed use with commercial on the first floor and residential on the second floor. It comes with a cool pocket park perfect for plenty of plaza dining.
Michael Bergeron with New Hampshire Economic Development recruits businesses to New Hampshire and is happy to help join you in the allure of luring.
Tony Donovan with KW Commercial covers Maine and New Hampshire with beautiful brokerage.
Bettina Eames with Tighe & Bond heads up their environmental division. Call Bettina to help make your brownfields bright.
Don Marshall with Marshall Associates helped Nick Aube out when Nick didn’t know what P & C meant for Property and Casualty insurance. Don said that’s OK, it really means Pitchers and Catchers Day.
Jay Dinkel at NBT Bank still has the initial rate of 2% available on some loans that does drift up over the life of the loan but can help get somebody started.
Timothy Sheedy with Phenix Title Services is a closer.
Paul Alfano with Alfano Law Office & Lincoln Property Tax Services piped up about the essence of time and time being of the essence if you want to apply for an abatement prior to the Ides of March.
Butch Ricci with DeStefano Associates shared the funny story of being locked up in the former Somersworth Police Station for 10 hours once. They were doing some construction work on the place and somebody thought it would be funny to lock the GC in a cell. Problem was the only one who had a key was the chief who was on vacation. DeStefano Associates can help from napkin concepts to certificate of occupancies. They currently have projects stretching from Scarborough, Maine to Langhorne, Pennsylvania. DeStefano Associates is facile with fast paced and fast track retail projects and one of their frequent clients is Bob’s Stores.
Barbara Lizotte with Tobey & Merrill Insurance issues insurance for your issues of a commercial variety.
Gerry Mylroie with KW Commercial is the former planning director for Kittery and recently joined KW.
Dave Garvey with KW Commercial also is on the hunt for strip centers along Route One from Seabrook to Portsmouth. Dave is also hunting for multi-families in the 100 to 250 unit range in Southern New Hampshire.
Nina Cutts with Institution for Savings noted they have long term low fixed rates.
Bob Viel with Remax Legacy brokers buildings in Maine and New Hampshire.
Marie Bodi with CP Management invites all those buried in snow with too much snow on their roofs and ice dams dripping to delight her by handing her these headaches.
Ute Luxem with Profile Bank happily helps with building and equipment financing with low rates of 2.99% for 3 year notes and 3.99% for 5 year notes up to 250 thousand dollars.
David Choate with Colliers has a buyer looking for something in the off market world up to 5 million dollars for office, industrial, or retail anywhere in New Hampshire.
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.
There will be a quarterly meeting on 27 March 2015 from 8:00 to noon at the SERESC Building in Bedford with a presentation by Lynn Bagby of Asset Preservation.
David Choate mentioned that Bowl-A-Rama Plaza sold for 6.42 million dollars and Dave Garvey was the broker. He also said that, when Jim Giampa mentioned the property that was available at Depot Square in Hampton, it triggered something in his mind that somebody was looking for such an investment and they closed a few weeks later. This Seacoast Marketing Session works.
Listings
Tony Fallon with Tony Fallon Architecture can help keep ice dams from occurring next time and lower your heat bill all in one fell swoop. Condo owners, hotel owners, and all with sloped wood framed roofs, give Tony a call to learn about Continuous Insulation for roofs and Uniform Temperature roofs. Tony puffed up Bill Green again in that Bill is one of those people that remains positive and productive in negative situations.
Bob Marchewka with One Commercial has two offices next to PCG with free wifi and great computer support. Bob also has three single office spots downtown.
Tom House with THA Architects is working in Newmarket on a multi-family and on a mixed use with retail, apartments, and offices.
Nathan Dickey with KW Commercial has a package for sale that needs lots a love in a Northern New Hampshire town with 40 residential units in a number of buildings.
Arthur Pappas with KW Commercial has a Pizza Hut whose lease is up and whose drive up window can now be a drive up for cold hard cash with a bank operation. This 3800 sf is on Lafayette Road in Portsmouth. Also, Arthur has some land that could be 16 residential units near the Market Basket on 125 in Rochester and is going for 750 thousand dollars.
Ken Lambert with Exterior Designs said his company owner has a passing interest in finding some land for lay down space near Manchester, New Hampshire. They are doing lots of work in Boston and Cambridge on sites that are very limited and can’t accommodate a lot of material storage during construction.
Andy Ward with Colliers highlighted 472 High Street in Somersworth. The zoning is very flexible and the space too is very flexible. This would be good for an owner occupier and good for professional services. Leasing out part of it as an owner could help pay some overhead. 10 dollars psf NNN or $599,000.
Russ Doyle with Two International Group has 25 New Hampshire Avenue where Portsmouth Hospital is almost fully in and the second floor is available. This LEED Platinum building is geothermal and has a private underground parking garage. Rates are 18 dollars psf NNN.
Bryan Dubois with Dubois Associates Real Estate and Dubois Appraisals can help with Real Estate Appraisals from mobile homes to large commercial properties.
Jim O’Donnell with 2 the Top Marketing often is asked what is most effective. His answer is always websites that are optimized for search engines. The second most effective thing is making sure that the search engines are showing your correct contact information and location.
Ralph Pope with Coldwell Banker has a loss leader cheap cheap space that cheeps so much it is bringing Spring Springing. 1050 sf in Rochester at a corner lot with a lighted intersection is going for 500 dollars per month for the first year.
Laura Farago with Colliers has two flex spaces at 135 Lafayette Road with 2200 sf on two levels available for 9 dollars/sf or 130 thousand dollars. The second one is 925 sf and is going for 90 thousand dollars. Buy them both for 200K for a great play from this majorly motivated seller.
Mary Driscoll with The Law Office of Mary Driscoll and Fleet Street Settlement is all about you.
Robert Cruess with TF Moran has 8 structural engineers busy looking at roof structures under our unusually heavy snow loads. Robert can also provide Civil Engineering, Landscape Architecture and the smiling friendly face of Corey Colwell due to their merging with MSC.
Lynn Bagby with Asset Preservation Inc. exchanged further thoughts on 1031 exchanges.
Nick Aube with Avery Insurance is glad to know what Property and Casualty means thanks to Don Marshall.
Susan Scanlon with Commercial Properties has warehouses for lease or purchase all over Maine from Gardner to Brewer. In Bowdoinham, there is a developer who has 3 medical marijuana tenants on his site and is willing to do a build to suit to bring in more of the same. This brought some lively banter.
David Hodgdon with PCG and ClicknFix noted some of the notable clients they help like Hoyle Tanner and East Coast Bio.
Ray Dugdale with Optima Bank has good long term rates for mixed use, retail, and residential. Flexible terms are fine.
Christine Soutter with City of Somersworth Economic Development shared that Somersworth is offering up cash with the Great Falls Development Corp that can do some helping loans from 50 to 150K.
Gerry O’Connell with KW Commercial is this year’s NHCIBOR el presidente. Gerry has a small strip center in Western New Hampshire that is becoming available and will go for 1.9 million dollars. There is a 2nd adjacent portion with a New Hampshire Liquor Store that could be had for another 1.3 million.
Michael Bergeron with New Hampshire Economic Development is trying to get something set so that properties on Catalyst automatically get uploaded to the New Hampshire Economic Development site. This will be app driven.
Tony Donovan with KW Commercial shared info again about their new associate, Gerry Mylroie. Gerry was the Kittery Town Planner and has some Weathervane Seafood listings. One is the 10 acre, 260 seat, Weathervane in Bedford, New Hampshire which has 800 foot of frontage on 101. It also has a giant sign that may allow for some grandfathering for your sign to be giant.
Bettina Eames with Tighe & Bond shared again that she helps a lot with environmental redevelopment challenges and has a lot of parties that she is happy to connect from investors to authorities having jurisdiction to vendors. She is happy to help you navigate the hoops and hurdles with the connections she has gained over the years.
Jerry Bazata with Newburyport 5 Cents Savings Bank is serving up a solution for the snowball effect of all this snow with snow pushing vehicles getting beat up. Come on in for up to 5 million snow pushing equipment smackers for under 3%.
Al Silva with Silva Graphics serves signs and graphic needs in Maine, New Hampshire, and Massachusetts.
Ellen Bates with Office Interiors is currently designing 200,000 sf of space with 7 different clients.
Bill Jean with Fulcrum Associates likes to help early on with pro formas and can bring in design teams too.
Vicky Gray with Federal Savings Bank noted their 125 year history and local decisions.
Don Marshall with Marshall Associates said businesses are busy which makes his business brokering business busy too, totally.
Jay Dinkel with NBT Bank has branches in Manchester, Nashua, Londonderry, and Portsmouth.
Timothy Sheedy with Phenix Title Services has 6 offices in New Hampshire, 5 offices in Maine, and 1 office in Massachusetts. They are close to the closings.
Paul Alfano with Alfano Law Office & Lincoln Property Tax Services assisted the Walmart Distribution Center in Raymond with a tax abatement.
Butch Ricci with DeStefano Associates is working on a number of Bob’s Furniture Stores, IHOPs, Seabrook Crossing, and Granite Ridge in Rochester.
Barbara Lizotte with Tobey & Merrill Insurance has a list of ideas to help with the snow laden, icy, ice dammed, roofs.
Gerry Mylroie with KW Commercial is selling the current Weathervane Seafood company headquarters and small seasonal restaurant on Badger’s Island in Kittery for 2 million dollars.
Dave Garvey with KW Commercial has a Hooksett, New Hampshire development piece for commercial, residential, and multi-family properties. There is ZBA approval for 48 units and a requirement for the one or two of the commercial sites to be developed first. Come benefit from frontage on three streets with 3 acres for 1.5 million dollars.
Nina Cutts with Institution for Savings is on the board of the Coastal Economic Development Corp. Let them help bring your project past that last hoop.
Bob Viel with Remax Legacy has a new turnkey listing which is a salon with 8 stations, a massage table, and a pedicure station. Also, Bob has a hunt on for the Seacoast Family Food Pantry which has to leave their current spot. They need 3,000 sf and a loading dock near a Coast Bus Route and the rate has to be low enough to gain the landlord some tax write off benefits.
Marie Bodi with CP Management manages commercial and residential and is focusing growth in North Andover, Massachusetts.
Ute Luxem with Profile Bank noted that Durham is a community with character that has increased the commercial tax base by 8%.
John Hall with Profile Bank has an acre in Somersworth on Route 108.
David Choate with Colliers has the current Sports Medicine building available for a temporary sale/leaseback that sports a 10 cap while the new building is being built. It entails 11,000 sf and there is a grid of columns allowing a flexible layout on a 3 or 4 acre setting. The zoning is residential which is a bit tricky, but there may be some expansion possibility.
Haves and Wants
Tony Fallon with Tony Fallon Architecture does landlord side work for the Wilder Company of Boston and is happy to help you too.
Bill Green with Century 21 Newson noted that the Lady Queen of Peace Church he has for sale in Berwick was originally a barn and he sees it as a great restaurant and function facility with 10 or so guest rooms all across from the falls.
Bob Marchewka with One Commercial is looking for 12,000 to 15,000 of industrial space with 3 phase, 400 amp service, higher ceiling, and minimal office.
Tom House with THA Architects has projects in Newmarket and Portland, Maine.
Nathan Dickey with KW Commercial is looking in Meredith for retail or office. Size is not as big a deal as parking.
Arthur Pappas with KW Commercial has a hunt for 3,000 to 5,000 sf from Portland to Newburyport.
Gerry Mylroie with KW Commercial also works on a non-profit, keepsoundminds.org, that has a fundraiser coming up, Friday 10 April 2015 at 6:30 at the Portsmouth Gas Light Company with a Chicago Tribute band.
Andy Ward with Colliers highlighted the former Powerspan location at 54 Old Bay Road in New Durham, New Hampshire. This was the headquarters as well as the research and development sections of the company. These 19,000 sf can be purchased for 425 thousand dollars or 22 dollars/sf. The lease rate is $3.50/sf NNN. There are two loading docks and the owner is now willing to take on seller financing with a 5 year term with interest only. The owner will also lease back 6,000 sf for a year or two if you want.
Russ Doyle with Two International Group shared that the Seacoast Charter School in Kingston, New Hampshire is looking for 33,000 sf of new school space.
Bryan Dubois with Dubois Associates Real Estate and Dubois Appraisals can help scope out those overpriced tax assessments and appraisals.
Jim O’Donnell with 2 the Top Marketing had a line about online.
Ralph Pope with Coldwell Banker is looking for 2,200 to 3,000 sf in downtown Dover with a first floor location preferred. In Hampton, Ralph has a mixed use with office, showrooms, Butler building, and two apartments for 549 thousand dollars.
Laura Farago with Colliers has 30 usable acres of a 92 acre parcel on Route 11 in Farmington, New Hampshire that is mostly zoned commercial but has a bit of residential. This deal of deals is going for 282 thousand dollars.
Robert Cruess with TF Moran is happy to be expanding into the Seacoast with the MSC merger. Robert saw actor Michael Douglas once.
Jerry Bazata with Newburyport 5 Cents Savings Bank is fundraising for his kid’s swim team to go to Colorado.
Vince Chestnut with Alpha Locksmith recommends safes for keys at repair garages and valuable papers for everyone. He has a big job where a repair garage had a fire and the keys for all the vehicles on the lot got toasted.
Al Silva with Silva Graphics thanked Nina, Dave, and Bob for referrals and work.
Ellen Bates with Office Interiors is located on Lower Square in Dover in a beautiful old bank building and has 9,000 sf of showrooms and offices. Come on by!
Bill Jean with Fulcrum Associates has a 210 unit in Salisbury, Massachusetts and a privately developed student housing deal in Durham, New Hampshire under construction.
Vicky Gray with Federal Savings Bank is serving up jingle to McNabb Properties.
Lynn Bagby with Asset Preservation Inc. noted that there are some 1031 exchange opportunities for equipment like snow plows. Lynn also sounded loudly the alarm for some contemplated legislation in Concord that would burden investment in production tremendously.
Susan Scanlon with Commercial Properties has an investor from Boston who is looking to freshen up some places and flip in a couple of years. Price is not a problem and the hunting grounds are Maine, New Hampshire, and Massachusetts for this self managed operator/investor.
David Hodgdon with PCG and ClicknFix works from Portland to Manchester to Newburyport and reminded us again they are dealers for the delightfully sounds of Sonos wireless speakers.
Christine Soutter with City of Somersworth Economic Development talked up downtown again and the incentive of 79e which freezes assessments at pre improvement place for up to 7 years. One of the buildings available there used to be a church and it is really neat.
Gerry O’Connell with KW Commercial touted the strip mall in Western New Hampshire that is going for 1.9 million and is an 8.2 cap. Gerry also is marketing the Signal Street Plaza in Rochester that has medical space as one of the tenants and is going for 4 dollars/sf.
Michael Bergeron with New Hampshire Economic Development credits tax credits with their due positive impact.
Tony Donovan with KW Commercial whistled us to a stop as we considered rail developments. Tony has a lot of experience with these and said to give him a call if you have any interest in this, even if the rail line is almost at your site or the one that is there is very inactive. He has worked on these around New England and even as far away as Florida. In Springfield, Massachusetts, the old train station is being brought back to life with 81 million dollars and there is an 8 acre site adjacent as well as a casino.
Bettina Eames with Tighe & Bond can help with phase one and beyond site assessments with regards to environmental tidying up. They found some PCB quantities recently at a site that used to be a paint factory.
Jay Dinkel at NBT Bank has a commercial loan office in Portland, Maine that just opened up.
Timothy Sheedy with Phenix Title Services plugged Paul Alfano’s good work and recommended that purchasers put into P & S agreements that any tax abatements the purchaser negotiates go to the purchaser.
Paul Alfano with Alfano Law Office & Lincoln Property Tax Services works on a contingency basis but for a 250 dollar fee for gaining an assessment. Paul again mentioned his family’s property which is heading to the market on the shores of Lake Winnipesaukee in Wolfeboro. 1.6 million dollars buys 2.7 waterfront acres and 4 homes.
Butch Ricci with DeStefano Associates will be happy to get started on the Granite Ridge project in Rochester but for now is off to the ridges in North Conway to ski with the family on the family February vacation.
Gerry Mylroie with KW Commercial spoke of how nice a spot the Weathervane site on Badger’s Island is. Gerry has a degree in Landscape Architecture and practices landscape design in addition to the brokerage role.
Dave Garvey with KW Commercial has 2.65 acres and 3.97 acres for sale at Enterprise Drive in Somersworth off of Route 108. The latter is going for 200 thousand dollars.
Bob Viel with Remax Legacy has 660 Central Avenue in Dover which covers 658 sf and can be bought for $159,900 or rented for 1500 dollars absolute gross. Also Bob has 1200 sf for 1400 dollars per month absolute gross.
Marie Bodi with CP Management forecast more snow and said to send your snow headaches to marvelous Marie. Let Marie take your cares away!
Ute Luxem with Profile Bank said to enjoy the storm and to rest assured that Spring is around the corner.
David Choate with Colliers has a pediatric dentist looking in Dover in the range from 2,000 to 2,500 sf.
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 20 March 2015 at
One New Hampshire Avenue, Third Floor Conference Room
Pease Tradeport
The sponsor will be Office Resources