20 December 2013 NHCIBOR New Hampshire Commercial Investment Board of Realtors Minutes of Seacoast Marketing Session
Tom House with THA Architects was the breakfast sponsor today. THA operates out of Stratham, New Hampshire and has 25 years of experience. Tom serves mixed use and multi-family projects. One of the projects he worked on in Wilmington, Massachusetts won an urban infill Prism Award sponsored by NAHB. Tom recently worked on a 28 unit in Wakefield. Tom also works on smaller and commercial infill as well as senior housing.
Cash Buyers Bob Marchewka with One Commercial has a cash buyer who wants to do a deal in the greater Seacoast. They’ll do a build to suit for medical or office with some residual land. Could do some mixed use too. It doesn’t need to have a tenant in hand. They have a 25,000 sf industrial building in Portsmouth that they are willing to sell.
Maxine Kenny with Colliers is still looking for 3,000 to 5,000 sf with highway access in the Greenland, Stratham, North Hampton areas for Seacoast Family Promise.
Fred Attalla with Weichert PEYT has two builders looking for land that he could put up 2 or 3 lot subdivisions anywhere in the Seacoast.
Andy Ward with Colliers has an office buyer looking for 3,000 sf in the Rye to Newington area that has 7 or 8 parking spaces. Stand alone or condo is fine and they are on a 500 thousand dollar budget.
Ute Luxem with Profile Bank believes we are at the bottom of the interest rate swing and the rates will probably be climbing. So, if you have anybody who is on the fence, you might want to roll them off.
Ken Berry with Berry Engineering has a family business that has been up and running for 32 years providing surveying and civil engineering for the Seacoast.
Andre Tremblay with Franklin Savings Bank can help with construction lending and commercial mortgages. If you have something to sell, send him the info and he’ll pass it on to some of his borrowers. There was a deal in Portsmouth where Andre did this for a broker and three of his borrowers were interested. One is, in fact, closing on the deal.
Tom House with THA Architects does a couple of houses but mostly larger projects and master planning.
Sean Burke with NBT Bank is happy to help with construction financing, commercial real estate, business loans, and refinancing.
Marc Carbonneau with Georgetown Bank can help with all your commercial lending needs.
Robert Cruess with TF Moran was in New York City for the ICSC and noted an increased interest in retail deals for the first time in a number of years. 2014 looks good for retail.
Joe Friedman with Brooks Properties has a food manufacturer looking for 10,000 to 50,000 sf.
Katie St. Pierre at EnviroVantage provides environmental remediation services and they have been doing so for 30 years. They were the first lead abatement company in New Hampshire.
Pam Lynch with NAI Norwood has an investor looking for multi-family deals with 30 units and up. They are looking at a 100 unit one now and would top out around 6 million dollars. They are considering building too in the Greater Manchester to Seacoast areas.
Wes Tator with NH Real Estate has someone looking for 5000 sf with 3000 sf for restaurant and retail and 2000 sf for food production somewhere on the Seacoast with a good traffic count.
Ellen Bates with Office Interiors has been operating from Dover since 1986 and provides space planning and contract furnishings for the commercial market.
Mary Ellen Humphreys with Rochester Economic Development noted there are some interesting projects downtown and that, if you have investors who may be interested, to call her.
Al Silva with Silva Graphics provides signs and print services along with billboards and vehicle lettering.
Sean Peters with KW Commercial joined us for the first time.
Ralph Pope with Coldwell Banker has some buyers looking for a site for a small pub location in downtown Dover or Portsmouth.
Susan Miltner with Seacoast Business Machines has been in business for 30 years and thanks everyone for the business that has come from this meeting. They plan to do some security seminars in 2014.
Ben Langlois with President Construction showed up for his first meeting. They do general contracting and CM work for banks and corporate.
Christine Soutter with City of Somersworth Economic Development has a couple of buildings that are available. One is the former police station and they have an enterprise zone where town taxes are frozen for 5 years after an improvement.
Mark Danie with People’s United Bank serves the Exeter and Hampton markets in the million dollar loan value and below.
Diane Lewis with TD Bank services the Seacoast.
Al Haghdan with Santander Bank told about a restaurant deal where they broke it down into three different loans.
Susan Scanlon with Commercial Properties is looking for strip malls and plazas at 15 million dollars or so.
Butch Ricci with DeStefano Associates noted they are doing a project in Philadelphia. They can help from permitting through the toss of the keys.
Laura Farago with One Commercial Real Estate saw a small tenant fitup that THA designed which she liked a lot.
Pauline Maloney with Stony Knoll Realty serves clients in Maine, New Hampshire, and Massachusetts.
Adam Johnston with Saint Mary’s Bank says send your cash buyers on over.Mark Sullivan with Seacoast Asset Managementtalked up the Peas and Carrots food drive.
Renee Plummer with Two International Group graced the proceedings to honor the honoring of David Choate.Peter Whitman with KW Commercial has a cash buyer from the West Coast of Florida looking for significant deals in the 100 to 125 million dollar range.Alec Tarberry with WS Development is looking around New England for Retail Development opportunities.
Carol Estes with Optima Bank is a locally owned bank that serves up smiles and smarts.Dave Garvey with KW Commercial has a buyer looking in the 1.5 to 1.6 million dollar range with a 8.5 to 9 cap in industrial, retail, or anything commercial. However, they are not interested in office.Tony Fallon with Tony Fallon Architecture provides commercial and residential architectural services in New Hampshire, Maine, and Massachusetts.
Nic Dziemian with Neighborhood Energy can help with energy delivery for small businesses and homes with the lowest rates.
Tad Dziemian with White Columns Office Solutions offers great power rates for larger organizations.
Barbara Lizotte with Tobey & Merrill Insurance has a commercial client looking for a 20,000 sf and up industrial building in Seabrook.
Wendy Rayno with People’s Bank in Portsmouth helps with everything from startups to refinance arrangements.
Tracey Hartford with Windover Construction is based at Manchester by the Sea and does academic, banks, and development as well as high end residential. They are looking for land for multi-family projects in Southern Maine and Southern New Hampshire as well as North of Boston.
Marie Bodi with CP Management presented David Choate with a thank you present for organizing this Marketing Session in 1997 with a check for his annual trip to Anguilla and also over 1000 dollars that will be given in his name to NHCIBOR Cares. David also donned a necklace of Christmas Lights.
Sarah Davies with Colliersjoined us for the first time. She is interning with Colliers and her father, Chris Davies, is in the business (Great Bridge Properties)..
David Choate with Colliers is helping Maxine on the hunt in the Stratham area for 3000 to 5000 sf. Probably the bill will be filled by an oversized house with a barn.
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 7 February 2014 Neil Barrett from Colliers will be delivering a commercial core course from 9:00 to noon at KW Commercial in Bedford.August is available for breakfast sponsorships in 2014 (July was taken by St. Mary’s bank).Next month’s sponsor is Northeast Credit Union.
Listings Bob Marchewka with One Commercial has an affordable pair of listings in Portsmouth. One is a sublease of 3600 sf in the former police station on Penhallow for 15 dollars psf which is below market and they are willing to talk. At 30 Mirona Road, there is 1500 sf going for $1950 per month.
Maxine Kenny with Colliers has 40,000 sf of flex at 36 Industrial Drive in Rochester at exit 14 of the Spaulding Turnpike for $5.50 psf NNN and 250 parking spaces in this spot that is only 12 miles to Dover. The other benefit is a year’s free base rent (certain terms and conditions apply).
Fred Attalla with Weichert PEYT has 10,000 sf of space that is now owned by Mast Climbers who is willing to stay on as a tenant in a sale/leaseback. They can probably deliver the cap rate that Garvey’s buyer is looking for. Fred reached out to Ralph Pope’s restaurant search with the Fish Shanty in Dover that is going for 549 thousand dollars.
Andy Ward with Colliers has 5600 sf at Route 1 and 107 that is going for 599 thousand dollars. There is currently a chiropractor in the existing tenant mix at this Seabrook location.
Ute Luxem with Durham Economic Development noted that the large development deal that would have brought a research arm of UNH into downtown with incubators and mixed use has folded. They are looking for another use for the former fraternity in the heart of downtown now.
Ken Berry with Berry Engineering noted that the Shoreland Bureau is going to be seeking input for a tuning up of their rules.
Andre Tremblay with Franklin Savings Bank has a couple of buyers looking for apartments from in the 400 to 500 unit range. He has another one in the sub 100 unit range and has a mixed use buyer on the Seacoast looking for small to midsize apartments.
Tom House with THA Architects is working on a diner at Southgate Plaza with the Me and Ollie’s group and has been shortlisted for a Waterstone project in Seabrook.
Gerry O’Connell with KW Commercial has a large development site in downtown Wolfeboro with 2200 linear feet of lake frontage, 4 acres, and would be great for a high end hotel. This 15 Willow Street location is yours for 2.115 million dollars. Russ Doyle with Two International Group has the entire second floor becoming available at 2 International Drive, the green roofed building just before the blue roofed building in which we meet. This offering on 2 by 2 is too good to pass up.
Marc Carbonneau with Georgetown Bank can help with commercial and residential loans in traditional, secondary, and portfolio avenues.
Robert Cruess with TF Moran noted that they were on the cover of the New England Real Estate Journal for the 3rd time in the last year. This splash was for the 250,000 sf New Hampshire State Liquor Warehouse in Bow. Good warehouse space continues to be a rare commodity in New Hampshire.
Joe Friedman with Brooks Properties has a 24,000 sf 2 story building that would work for a call center or data center. They could also do smaller offices in the 2000 to 4000 sf range at this Brookstone Park location in the heart of Rockingham County. They recently leased out some space to the Granite State Arts Academy.
Katie St. Pierre at EnviroVantage provides commercial and residential environmental remediation for mold, lead, pcb, and all things nasty from a 25 year experience base. David Choate piped up and lauded EnviroVantage for a great job at the former Great Bay Community College in Stratham that he has listed where they did an amazing clean-up job.
Pam Lynch with NAI Norwood is interested in assisting with business brokering. As the end of the year gets people thinking about long term views, please toss her name to those thinking of transitions and she will be happy to toss referral fees back at you.
Wes Tator with NH Real Estate has 1950 sf next to Herbal Path at 835 Central Avenue in Dover and is thinking a café might be a good pick for this 25 dollars psf spot that is negotiable.
Ellen Bates with Office Interiors has 6 interior designers on staff and, with 28 years of business, has most of the major buildings in New Hampshire logged into their data base. They will probably have a digital plan of what you are looking at to quickly help with visioning.
Mary Ellen Humphreys with Rochester Economic Development acts in the role of advocate for the applicant to help shepherd your approval process and processors.
Al Silva with Silva Graphics can also help with bronze plaques for your buildings of note as well as trade show setups and ADA signage.
Todd Prescott with Prudential Verani has 3120 sf with 3 offices and 8 parking spots in Hampton that would be good for medical or law going for 339 thousand dollars.
Sean Peters with KW Commercial has 4.2 acres and 4.7 acres right off Route 125 in Barrington that is going for 750 thousand dollars as a package deal.
Ralph Pope with Coldwell Bankerreached out to multi-family buyers with his Rochester offering of two brick buildings entailing 25 apartments and 7 commercial units available for 1.6 million dollars. Ralph also has a 6 apartment building going for $337,500 with good numbers.
Ben Langlois with President Construction has quite a bit of experience with small and large office fitups. Call anytime.
Christine Soutter with City of Somersworth Economic Development kicked the famous boots and shared that they are about to have 4 million dollars poured into the Somersworth Downtown streetscape for a fresh freshening. Colliers has a bank listed in this upward acting area and there is a restaurant for sale by owner. Also there are some good multi-family offerings and tax incentives making investors interested and intrigued.
Mark Danie with People’s United Bank serves up dough to the Exeter and Hampton markets.
David Hodgdon with PCG and ClicknFix announced that their new Dover location is up and running. Bob Marchewka helped him find it, Al Silva helped with signage, and Tadd Dziemian helped keep the lights on for low dough.
Diane Lewis with TD Bank has 3 buyers looking. One is after 8,000 to 10,000 sf within easy access to the Seacoast. Another is looking for 5000 sf with room to expand to another 5000 in Dover or Rochester. A third is looking for land in Exeter for a showroom and warehouse.
Al Haghdan with Santander Bank has a business line of credit that is new as well as 30 year mortgages for commercial loans that can crank down the monthly money.
Susan Scanlon with Commercial Properties was lauded by David Choate for being a living legend in legendary Portland. Susan has 80,000 sf in Gardner and 25,000 sf in Portland that is right off the highway. If you have, or want any space in Portland town, call Susan. Susan also has a large warehouse in Easton, Maine which is way, way down East where the sun shines first.
Butch Ricci with DeStefano Associates allowed that they are now getting more into CM work for high end residential and have such underway next to the Cliff House in York, Maine. Butch continued the commercial saying they do commercial as well as well.
Laura Farago with One Commercial Real Estate reminded us of the Brentwood day care offering that is an industrial zone that could expand and has a lot that could handle a 40 by 40 building.
Pauline Maloney with Stony Knoll Realty has 2210 sf at Fern Crossing in North Hampton that could be office or retail and is all yours for 149 thousand dealing dollars.
John Konevich with Alliance Capital Funding operates an independent commercial capital brokerage firm accessing government guaranteed money, hard money, and useful money.
Adam Johnston with Saint Mary’s Bank covers all of New Hampshire with blankets of dough with a sweet spot in the 500 thousand dollar to 2 million dollar range. Their decision making group is small, nimble, and swift.
Mark Sullivan with Seacoast Asset Management talked up the charity Peas and Carrots at this pretty Pease location if you please. Mark thanked Renee Plummer and Russ Doyle for participating with Peas and Carrots too.
Bob Goodman with Coldwell Banker returned after running into David Choate. David illustrated Bob’s illustrious career with Liberty Mutual, Commercial Real Estate, Political Consulting, and now Residential Brokerage. Peter Whitman chimed in and expressed appreciation for Bob’s patience when Bob worked for Liberty Mutual and Peter was working for Joe Sawtelle seeking to move Liberty Mutual into the Dover mills. The conditions were a bit turbulent and Bob worked well with them. Bob has a 6 unit in North Berwick that should come in at an 8.5 cap. Bob also reached out to the bankers for a small investor that he has that is seeking to expand.
Alec Tarberry with WS Development has an out-parcel at the North Hampton Plaza with Home Depot, Shaws, and LL Bean that could handle a 5000 sf building.
Carol Estes with Optima Bank was prodded by David Choate to allow that they and every bank were the “SBA bank of the year” for one of the 365 categories. NBT, Georgetown, and TD also piped up about their similar awards.
Tony Fallon with Tony Fallon Architecture passed out Christmas cards and trolled for donors for the Waterville Valley Adaptive Sports Turkey Plunge which he had participated in. Thanks to those who chipped in after Tony went through the ice chips into the deep chill for the cause of enabling recreation for the restricted. More at: http://www.watervilleadaptive.com/
Nic Dziemian with Neighborhood Energy let us know that their website for small businesses and residential users is up at: http://neighborhoodenergyne.com/. They offer affordable rates for New Hampshire, Massachusetts, and Rhode Island.
Tad Dziemian with White Column Office Solutions talked up Nic’s business some more allowing that they are getting 7.6 cents per kwh.
Andy Fleisher with NAI Norwood thanked David for making this Session a success over the years and for being an inspiration to all. Andy finds David’s knowledge of the business and work ethic second to none. David thanked Andy and reminded us that we meet regardless of the weather conditions.
Wendy Rayno with People’s Bank has a client looking for 3000 sf of industrial space with one to five drive in bays. They want to be able to drive in big trucks.
Tracey Hartford with Windover Construction noted their website is: windoverconstruction.com and that they hail from Manchester by the Sea in Massachusetts and Florida.
Marie Bodi with CP Managementsuavely serves up 3rd party property management relieving owners of the mishmash challenges and headaches so they can enjoy the joy of all seasons. So you investor types that are tired of property pains, please pass them on. Marie hatched the idea of thanking David and shoveling some of the dough received to NHCIBOR cares. Thanks Marie!
Sarah Davies with Colliers will be updating the Colliers database as an intern.
David Choate with Colliers has 17 Production Drive in Dover where Conproco is relocating to Bow. This 30,000 sf of industrial space can be purchased for 1.8 million dollars or leased for 6 dollars psf NNN. It is a 16 year old building and has a couple of loading docks and 2 drive in doors. This will probably go for a purchase instead of a lease.
Haves and Wants
Bob Marchewka with One Commercial Real Estate has a buyer looking for a 30 or so room hotel in the Seacoast area for 2 or 3 million. They will buy quickly in the next few months.
Maxine Kenny with Colliers has a 9700 sf distribution warehouse at 27 Hancock Street in Rochester with 12 foot clear overhead and two drive up doors for 350 thousand dollars.
Fred Attalla with Weichert PEYT says his fellow Weichert agent, Kara Schaake, has 47 acres for you at the Seabrook dog track development. Fred reminisced about the early days of this Session with half a dozen people sitting around the table.Andy Ward with Colliers has the Fernald Lumber listing in Nottingham which has a number of options. There are lease and purchase options. Some buildings available. Some residential development potential. And one of the existing buildings has a large laydown yard for this scenic spot.
Ken Berry with Berry Engineering worked on two of David Choate’s listings recently.
Andre Tremblay with Franklin Savings Bank has a buyer for mobile home parks and pontificated about the pleasures and plusses of NHCIBOR membership.
Tom House with THA Architects can help with master planning.
Gerry O’Connell with KW Commercial has a 22 South Main Street listing in Rochester that entails two lots, lots of tax incentives, a vibrant value, and a price of 975 thousand dollars.
Russ Doyle with Two International Group talked up Two International floor two twice with terraces for the takers.
Robert Cruess with TF Moran dialed up the dire with dreams of roof collapses from a couple of feet of snow with the forecast of freezing rain. They have structural engineers to check soundness and send you to sound sleep.
Joe Friedman with Brooks Properties covers the Salem area Interstate 93 corridor with office and industrial offerings and has some new stuff.
Wes Tator also touts 2 B Green Profitably to help both the environment and building owners.Ellen Bates with Office Interiors offered up some projects that are just wrapping up in this season of wrapping. Office Interiors spiffed up the Harbour Place lobbies which are now bright and contemporary. They also did a 14,000 sf do-over.
Todd Prescott with Prudential Veranihas 18 units going for 850 thousand dollars at Hampton Beach.
Sean Peters with KW Commercial has 30 acres with permits in Stratham that is ready for groundbreaking for the dollar amount of 1.2 million.
Ralph Pope with Coldwell Banker has 1800 sf in Epping going for 350 per month or 229 thousand dollars. Ralph also has 9 acres in Somersworth that Christine kicked up previously at Malley Farm and Ken Berry has done some of the preliminary work for when David Choate had the listing.
David Hodgdon with PCG and ClicknFix illustrated the illustrative HP external flat screen that allows for dual displays for intimate presentations and can be added to your quiver for 130 bucks. David implored all to plug themselves into multiple backup means. He just had a client lose 6 years of data. David also plugged his place that Bob Marchewka is promoting with the first two month’s rent for free and the best IT support on the planet.
Susan Scanlon with Commercial Properties has lots of Class A space and “perdy” lots in Portland. Susan also serves as a tenant representative.
Bob Goodman with Coldwell Banker has a 10,000 sf place available to the left of the post office in Greenland. This could be attractive to banks.
Peter Whitman with KW Commercial has ½ acre on High Street in Somersworth that is zoned Commercial and going for 375 thousand dollars.
Marie Bodi with CP Management thanked all for serving up a large turnout to thank David Choate.
David Choate with Colliers has 402 State Street in Portsmouth across from the Library Restaurant that is just an eyelash under a million at 999 thousand dollars. This is a beautifully restored former medical office that has been an attorney’s office for years. Plug into Portsmouth and own a piece of the pretty pie.
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 January 2014 at One New Hampshire Avenue, Third Floor Conference Room Pease TradeportThe sponsor will be Northeast Credit Union