NHCIBOR Statewide Marketing Session January 22, 2014 Minutes submitted by Chris Norwood, NAI Norwood GroupJanuary’s statewide marketing session was held at the offices of the Greater Manchester Nashua Board of Realtors at 166 South River Road and was generously sponsored by John Turner of Team Engineering. Thank you John for your great breakfast! Here is a quick wrap up of all that took place!
John Turner – Team Engineering – Sponsoring the event – Building Inspection and Design Services. Capital Planning Studies, Engineering Consulting, Inspection. Has a need for an engineer with skill set for reserve studies, consulting.
Tom Duffy – Prudential Verani – Industrial Investment, 114 Londonderry Turnpike $809,000; currently $75,000 NOI. Also have two industrial condos, one at Patriot Park 6000 at 10 Liberty Drive and one at 49 Harvey Road Londonderry NH.
Bill Jean – Fulcrum Associates – Construction Management. Fulcrum is involved in a 206 unit project as well as a large multifamily in Rochester. In addition they have done much work in 2013 on medical and special use. Presently Bill is seeking more locations for a gym concept, must be 22 clear, 12000-20000sf.
Gary Chabot – DRED – Gary reminded us about the State’s Economic Revitalization Zone (ERZ). There is a due date of February 10th for receiving tax credit, must have job growth, call Gary to find if the property is in the ERZ.
Joan Blais – Prudential Verani – Has an investor seeking larger multi families. In addition has a property in Hillsborough, land with potential 10 lot sub division $350,000. Additionally a 24 acre lot also in Hillsborough on the Antrim line potential for retail. Lastly mentioned that the Toys for Tots needs 5000sf for storage year round.
Nick Dziemian – White Columns Office Solutions – “Lowest Rates Across New England”. Present rates at $0.85 per kWh; 8 month minimum term after goes either renewal or back to utility.
Dave Grappone – KW Commercial Realty – Presented 265 South River Road, existing footprint from 1000 – 5000sf, seeking solon, dentist or any other professional. 8 Mohawk Drive Londonderry office for lease or sale.
Any Shaklee – Nutec Group – Architect – Some recent projects include Sig Saur at Pease Tradeport. Areas of past focus have been façade etc. Realization of potential of property. 75 Person firm.
Andy Fleisher – NAI Norwood Group – Seeking restaurant with or without real estate Manchester, Vegas, Nashua, Bedford. Presented Elliot Business Park, in Elliot Maine which is an 8.4% cape rate, a total of 51 Industrial Condos. Additionally is marketing a Retail Strip Center for lease in Portsmouth $10 – $18psf NNN 2800 Lafayette
Doreen Austin – North East Credit Union – Encourages you to have your clients prequalify with her team prior to going to the market.
Rob Shaffer – RA Schaefer & DM White Architects – specializes in housing/multifamily. Work in NH and MA.
Adam Johnston – St. Mary’s Bank – If you have smaller investors who are looking to purchase condo units talk to him about the Investor Non warrantable condo, portfolio the loans. His sweet spot overall are loans in the $300k – $2M
Heather Rowan – Office Resources – Some select clients include: Fidelity, Bottom Line Technologies, DYN, Common areas for multifamily. Free furniture estimates to understand total cost and delivery time.
Andrew Lomezelo – Control Audio and Video – “Smart Offices”, easy and simple solution. Fully update and install audio, video and sound for office space, enhance your office space.
Kim Reagan – RJ Finley – Seeking 35,000-40,000sf or larger for purchase; additionally multifamily preferably in the south west US. Presented 166 South River Road going through a major renovation. 160 South River Road in Bedford also has plans for improvements or additions if a tenant desires. Additionally she presented 70 Main Street in Peterborough, upgrading windows and HVAC to be finished in April. 1 Liberty Lane in Hampton, NH, 3000sf leased out to Unitil.
Robert Cruess – TF Moran – Quite busy, people are looking for retail sites A sites at B prices. Discussed the “Wayfarer Site” in Bedford five parcels of mixed use.
Ben Baroody – Baroody Real Estate – Cash buyer seeking Manchester property under $1M in for Investment. Presented 23,0000sf of Industrial space in Contoocook, combination office/warehouse $695,000. Looking for a garage, would like to have dealer plates.
Andre Tremblay – Franklin Savings Bank – 20 year term, potential for 25 year. 5 year rate, potential to lock to 7. Have borrowers seeking apartments to purchase for 30 plus units.
Larry Hirsch – Hirsch and Company – Seeking industrial space for a client with needs for 15,000-20,000sf, tech and start up. 2000sf of office balance for air conditioned warehouse. Presented clean 31,000sf industrial building 48 Powers Street in Milford, 2000amps of power for lease. Also has in Nashua industrial from 10,000-130,000sf $3.25 psf nnn starting rates.
Leighton White – Leighton White Inc. – Site excavation company. Presented a gas station and garage on Milford Oval, two apartments upstairs plus gas station $550,000. Working on the underground utility work at Whole Foods in Nashua, NH. Optimistic for 2014, bidding a tremendous work for this Spring.
Dan Barufaldi – Dover Economic Development – City Council tonight is seeking new police station and garage in Dover. Sig Saur has leased 141 Broadway in Dover. Urged us to review Senate Ways and Means Committee Senate Bill 335, gives BBT Tax Exemption up to 25% of total who donate time to vocational centers.
Courtney Moore – End Point – End Point can help your clients with their Due Diligence work. Has a client looking for warehouse space in Manchester area, 4000-10000sf.
Chris Norwood – NAI Norwood Group. Has a user seeking 20,000-25,000sf of industrial space. 30 minutes of Manchester must be 24’ Clear.