21 August 2015
New Hampshire Commercial Investment Board of Realtors
Minutes of Seacoast Marketing Session
Jim Pereira with Martini Northern Construction was the breakfast sponsor. When Jim first arrived in the area circa 1988, he was the City of Portsmouth’s economic development director and knows many people from that post. Martini Northern serves up Construction Management and Design Build services throughout Northern New England. A recent 32 million dollar plum is the Lifestyle Center across from Freeport Station. Other projects of note and of recent are a redo of the Abenaqui Country Club in Rye, 50,000 sf Elliott Medical in Londonderry, HCA physician practices, and Applecrest Event Center. The latter is an ICF constructed “barn” that allows Applecrest to operate a very nice restaurant that focuses inward on a courtyard come festival grounds. All of this also makes great settings for weddings. At the Elliott facility, Martini helped place a linear accelerator as well as Dana Farber and Elliott Cancer Centers. Jim also has been involved in NHCIBOR for years and served on the board with us previously.
Tony Fallon with Tony Fallon Architecture was inspired by the tropical downpours outside to remind all of a win win remedy for ice dams and that there are only 126 shopping days until Christmas. One will never see ice dams on an unoccupied barn and so the goal is to gain a similar uniform roof temperature from ridge to eave. The problem’s cause is snow melting at a warm roof middle that hits a cold roof eave. The win win solution is to add lots of insulation to gain an R.60 or so from eave to ridge. Katie Magnusson was the winner of guessing the additional benefit of lowering operating costs of heating and cooling and Robert Cruess correctly reminded to concurrently check the structure that, might gain some more loading. Tony notes that the structural challenge of increasing roof insulation is more of a concern for flat roofs but checking is good says the hockey player.
Bob Marchewka with One Commercial had lots of ice dams and thanked Tony for the tip. Bob has two or three parties looking for restaurants. The size range is 30 to 40 seats and 80 to 100 seats. They prefer existing New Hampshire or Maine Seacoast.
Peter Taylor with Anchor Property Management manages your properties to be pristine on the shining Seacoast.
Andy Ward with Colliers has an investor looking to place 2 million dollars within an hour of Portsmouth for multi-tenant, multi-family, or mixed use.
Katie Magnusson with Sweeney Title joined us for the first time from her Stratham home. Sweeney Title is an offshoot of a 3 generation legal firm in Nashua, Sweeney and Sweeney. Katie does closings for both residential and commercial at locations that suit you as well as their two local locations in the building we meet in and 155 Fleet Street, Downtown Portsmouth.
Maxine Kenny with Colliers has an investor looking for quality tenants and properties throughout New England in the 5 to 20 million dollar range. They can be flexible and would like to close soon. Maxine also has a group looking for a kennel in Southern New Hampshire along the 125 corridor in Brentwood, Epping, or Kingston. They could build on an acre or so.
Tia Hagan with Regus has move in ready office suites and private offices at 170 Commerce Way, their new Portsmouth location.
Tad Dziemian with Neighborhood Energy helps lower costs of the supply of Natural Gas and Electricity.
Carol Estes with Granite Bank announced her free agency negotiations have landed her back where she once was. Carol was with Portsmouth Savings which has ties to Granite. Carol has donned other jerseys over the years including Federal Savings and Kennebunk Savings. We will not take Carol for Granite!
Nick Aube with Avery Insurance had been in withdrawal after missing a couple of meetings and is happily fixed with his Marketing Session fix. Ahhhh.
Nina Cutts with the Institution for Savings has kept the same jersey for two years.
Don Marshall with Marshall Associates is a general business broker helping business owners find hidden buyers and hidden funding while keeping the transaction hidden until the appropriate time to pop the news. Don has a half dozen restaurants available and a number of kennels.
Kiersten Gerow with Exchange Authority can help with 1031 exchanges for businesses and properties.
Robert Cruess with TF Moran and MSC Engineering noted the fun time had by all at the Manchester Chamber cookout at their site which is so similar to the NHCIBOR annual BBQ.
Ute Luxem with Profile Bank has donned the Profile jersey for 6 years running and is happy to get your business going.
Michael Bergeron with NHDRED and nheconomy.com provides out of state recruitment with his teammate Cindy Harrington. Justin Avery works with retaining companies in our great state. Their whole crew is ready, willing, and able to partner with existing companies, prospective companies, developers, and brokers to land large and small companies the state of granite.
Al Silva with Silva Graphics relieved us all with comic relief displaying some relief lettering pointing in a particular directed direction.
Mary Ellen Humphrey with Durham Economic Development relayed that there is a lot of construction going on in Durham with both new residential and commercial winding to a finish. Several spots will be great for restaurants with lots of foot traffic afoot.
Craig Seymour with RKG Associates in Dover and DC assists with market feasibility studies, fiscal impact assessments, and other early stage studies all over. Craig has some office space in Dover to boot to be snapped up.
Sheryl Watson with CTI serves up communications, voice, data, wifi, and structured cabling from their one stop shop and cart.
Larry Zellers with Portsmouth Computer and Copy does have some ice dam problems and can help with computers, printers, and copiers.
Vince Chestnut with Alpha Locksmith has been sentenced to the lockup for 23 to life.
Ralph Pope with Coldwell Banker has several investors looking in Portsmouth for serious rehab opportunities.
Jim Turmelle with Profile Insurance Group joined us for the first time at the invitation of Ute Luxem. Jim can help with commercial, property, liability, and personal lines.
Joe Friedman with Brooks Properties has worn the Brooks Properties jersey for 10 years.
Jeff Brown with TD Bank recommended a client of his, Yankee Thermal Images, to see the holes in your insulation ahead of time to help bring your roofs and walls to uniform insulation and temperatures to help dodge ice dam jams.
Bob Viel with Remax Insight has no cash buyers but has a home that has had ice dams since before Tony Fallon was born and will talk to Tony to help.
Renee Plummer with Two International Group welcomed all to her meeting room and encouraged all to have fun.
Peter Gluckler with Masiello Better Homes and Garden Real Estate has no cash buyers but wants to talk about small businesses and restaurants later.
Laura Farago with Colliers has no ice dams and no cash buyers.
James Pereira with Martini Northern Construction was happy everyone was enjoying the great meal.
David Choate with Colliers has a buyer looking to place 1.2 million dollars with 400 thousand dollars of that being cash. David was sharing that there are pocket listings that are getting called out of the blue and being offered crazy high amounts of money.
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 13 September 2015 there will be a bike ride for charity from Concord to Manchester from 12:30 to 2:00.
All the slots for breakfast sponsorship are filled for this year and next year there are 4 slots open.
Bob Marchewka spoke about NHCIBOR committees always looking for volunteers. Go to the website, pick one out, and sign on up for fun, benefits, and helping.
One of the committees is helping Michael Bergeron and nheconomy.com. Unfortunately, the state has bought a booth space at a vital trade show that is coming up at CORENET Los Angeles but does not have the money to send our people. PSNH used to help fund some of these shortfalls and now NHCIBOR is going to step up and help do this. Industrial, Office, and Business brokers and owners will be there in force and New Hampshire needs to be luring with our allure as well.
Tony Fallon with Tony Fallon Architecture is working on another transitional housing project and this one is for families with kids that is in the works for Wolfeboro. Tony also has noticed a building that has long on the market on Bay Street in Wolfeboro near NAPA Auto Parts.
Bob Marchewka with One Commercial has 36,000 sf of new commercial office space next to the new parking garage that will be ready in a year or so.
Peter Taylor with Anchor Properties will pleasantly, peaceably, and properly manage your Portsmouth properties.
Andy Ward with Colliers has two contractor units at 89 Ledge Road in Seabrook that are 2280 sf each and you can take them both and have 4560sf! There are 22 foot high ceilings and mezzanine office space for 6.50 dollars psf NNN with 3.13 nets.
Katie Magnusson with Sweeney Title spoke of the intertwining solid family structure with both Sweeney Title and the law firm of Sweeney and Sweeney. Though the beneficiary of a third generation firm, 100 year old firm, Katie’s boss, Mr. Sweeney, is at his desk every day and a good worker who is easily available to his customers. The receptionist is Katie’s niece.
Maxine Kenny with Colliers has an exciting listing on the second floor on Portsmouth Avenue in Stratham above the Lindt outlet that is highly visible and replete with sweet wafting aroma. Park you and your taste buds there for 9.75 dollars psf NNN and 3.25 for nets with lots of parking.
Tia Hagan with Regus pays 10% commissions to brokers and has a current additional incentive of a 500 dollar Visa gift card. Regus is also working out a co-working offering where desk, phone, and internet are shared at 170 Commerce Way for 200 dollars or so per month.
Tad Dziemian with Neighborhood Energy brokers the supply of natural gas and electric for residential and commercial entities. One property manager customer with 6 million sf of holdings saved a million dollars in energy over three years. Tad will send you a monthly report of what you are spending and what you would have spent at standard rates.
Carol Estes with Granite Bank thanked all for the free agency razzing and shone as she shared their new loan product geared to solar energy equipment. These items don’t often show up on appraisals and so have trouble getting into the regular loans. Granite Bank is willing to set this off as a separate loan and take second position and fiddle.
Nick Aube with Avery Insurance attended the Preakness and enjoyed watching American’s Girl run.
Nina Cutts with Institution for Savings knows of a hunt for an asset manager who will do financial reporting in the student housing environment.
Don Marshall with Marshall Associates is a general business broker who dams the ice dams and offered up a garden center with a beautiful botanical display building for 975 thousand dollars annual gross and 150 thousand dollar cash flow.
Kiersten Gerow with Exchange Authority beamed as she said she will happily help with solar equipment vis a vis 1031 exchanges.
Robert Cruess with TF Moran and MSC Engineers alerted all to check their leases for unwarranted fees and escalators like fuel surcharges after the price of oil tanked.
Ute Luxem with Profile Bank said that after you figure out how to insulate your roof and keep it structurally sound, come on by for some money to get the job done.
Michael Bergeron with NHDRED and nheconomy.com can confidently confidentially help you draw them in close to the closing table.
Al Silva with Silva Graphics has served the likes of Lonza, Sig Sauer, and Great Bay Services and has enjoyed working with Martini Northern.
Mary Ellen Humphrey with Durham Economic Development has a couple of ERZ zones she talked up. One is Stone Quarry that Dave Garvey is handling and the other is the 100,000 sf Goss site at Technology Drive that is good and affordable space.
Craig Seymour with RKG Associates has space in his building on Central Avenue across from Federal Savings Bank that offers two high speed internet drops and a high speed copier along with a number of private entrances for the 8 different offices.
Sheryl Watson with CTI has a client in Scarborough that needs new space since they keep buying their employees cans of sardines to prove to them they could be packed tighter.
Larry Zellers with Portsmouth Computer and Copy can provide reports for what you are spending on equipment and supplies over time. Larry was able to save one group 800 dollars per month on toner.
Vince Chestnut with Alpha Locksmith offers padlocks that can be rekeyed. This helps with construction companies so that all their trailers and their main offices and warehouses can all have one key and to have them all easily changed when a disgruntled employee is let go.
Ralph Pope with Coldwell Banker has 22 acres in Newfields, New Hampshire that has good potential for a subdivision and is going for 400 to 450 thousand dollars.
Jim Turmelle with Profile Insurance Group noted they have been up and running for 5 years and just hired 3 new people. They are a smaller agency that can offer personalized attention.
Jim Friedman with Brooks Properties has plenty of properties to peruse from 4,000 sf to 80,000 sf and from 7 dollars to 30 dollars psf along the Interstate 93 corridor straddling New Hampshire and Maine.
Renee Plummer with Two International Group let us know that their almost wrapped up new offering at 25 New Hampshire Avenue is Gold Level LEED certified and populated with medical purveyors.
Jeff Brown with TD Bank relayed how he helped Rhymes take over Fred Fuller Oil in a 15 million dollar, very complex, multi-site, bankruptcy laden deal in 60 days just before his Disney World Family vacation. This good effort saved many families who had prepaid dough to Fred Fuller from loosing substantial deposits and being left out in the cold. The big risk and load that Rhymes took on with Jeff’s help paid off for Rhymes as they have gotten everything into the black and now Jeff is helping them figure out how to invest all the cash the company is now spinning off as well as help with processing credit cards.
Bob Viel with Remax Insight has a restaurant at 28a Third Street in Dover, the former Jake’s for $39,900 including equipment. This is near the Strand Theater that will soon have a redo. Bob has 903 Central Avenue where Hillary’s campaign recently pulled out of these 2698 sf and Bob is thinking if he can trump this. Also Bob has 660 Central Avenue that can be bought for 159 thousand dollars with income of $18,000 for an 8 cap spot with solid rent.
Peter Gluckler with Masiello Better Homes and Garden Real Estate has a 7 unit apartment for sale in Kittery with excellent numbers where the tenants pay all utilities and the debt service coverage ratio is 1.4.
Christine Soutter with City of Somersworth Economic Development who wins the shoes of the day prize at almost every meeting enjoyed seeing the Red Sox win last night. Chris says to come to Somersworth for ER and 79e Zones. Most of Downtown Somersworth has some tax incentives except for a small part of High Street. Things are bubbling around town with shovels hitting the dirt for new buildings in addition to the other updos downtown.
Laura Farago with Colliers has one bay of a 3 bay Allen Street Rochester offering available with high ceilings and two 16 by 16 doors. There is a deeded building wide security system and separate tenant security system all for 5 dollars psf modified gross.
Jim Pereia with Martini Northern Construction enjoyed working with Al Silva at Great Bay Services and doing a 15,000 sf deal in Exeter with David Choate as well as working with TF Moran on Structural Engineering. Martini also has a boutique hotel with 67 keys being developed next to the Mount Washington Auto Road by the same family that owns that road these last 109 years. They also do some smaller projects including the redo of DeStefano Architects and a tenant on a floor above them.
David Choate with Colliers has a pocket listing of a tenant that will go to Regus site if they find someone interested in their site at Nobles Island with 1659 sf in the first building developed there. Buy it for 390 thousand dollars or lease for $18.00 NNN. This is a great spot and a good location at the former Bank of New Hampshire offices.
Haves and Wants
Tony Fallon with Tony Fallon Architecture helps with digging dirt new deals or tenant fit up new deals or base building sprucing to catch the new deals as well as residential homes sweet homes.
Bob Marchewka with One Commercial has the Hodgdon Towers offering still available at 30 Mirona road that he has shown 100 times. Keep your computers happy and rent next to the IT Doc of PCG.
Peter Taylor with Anchor Properties can properly and promptly manage your properties throughout New Hampshire beyond Portsmouth too.
Andy Ward with Colliers is transitioning his offering at 472 High Street with 1729 sf on three floors to a lease deal with 10 dollars psf NNN and 5.20 nets. There is tons of parking and high visibility and a super high car count per day. The first floor is showing a lot but Andy is looking for those wanting the second and third floors.
Katie Magnusson with Sweeney Title in Nashua covers all of New Hampshire, Maine, and Massachusetts. Katie spends most of the day in her car coming to a closing site convenient to you.
Maxine Kenny with Colliers has at least 4,000 sf at 100 First Street in Downtown Dover overlooking the river with 32 high end apartments in the upper floors. The other 4,000 sf unit has been snapped up by a restaurant operator Jerry Bazata brought. Restaurant customers are right upstairs in this gorgeous building!
Tia Hagan with Regus can rent meeting rooms and virtual offices in their just opened facility that is already 40% occupied.
Nina Cutts with Institution for Savings has seen some investors call out of the blue and buy deals for 5 cap rates.
Don Marshall with Marshall Associates has a granite and marble counter shop that is doing 1.25 million gross per year with 250 thousand dollar cash flow that is available. The operation is doing very well and the owner is getting older and wants to pass the baton to some new blood.
Kiersten Gerow with Exchange Authority can help with both personal and business 1031 exchanges. Kiersten has a brochure to gear you up with the possible possibilities.
Robert Cruess with TF Moran and MSC Engineering has enjoyed working with Martini Northern over the years with whom they have won some awards. A project Robert is working on currently is the redo of Dover Honda where they helped with survey, civil, traffic, and structural engineering.
Ute Luxem with Profile Bank says that rates are low but ticking up so now is the time to close the deal.
Michael Bergeron with NHDRED has a new portal on NH economy.com that is almost up and will automatically upload NCPE listings. Go early, go often, to nheconomy.com!
Mary Ellen Humphrey with Durham Economic Development was happy to announce that the former town hall has sold and rehabbing of this is under way. There is a lot going on in Durham with many new projects constructed.
Craig Seymour with RKG Associates is happy to help you figure out real estate and planning nuances of your development deals.
Sheryl Watson with CTI says Tia Hagan is awesome to work with.
Larry Zellers with Portsmouth Computer and Copy helps a lot of bankers including one in Camden, Maine.
Vince Chestnut with Alpha Locksmith relayed the story of an attempted break in that was foiled by good locks.
Ralph Pope with Coldwell Banker has a great deal that has lingered and lounged too long in Hampton. Come on down to 200 Drakeside Road and buy this office with apartment over along with a separate Butler Building for 525 thousand dollars or lease it for a great rate. This is a tremendous spot and opportunity that can’t be passed any more by people in the know!
Joe Friedman with Brooks Properties has a function facility for up to 400 people that is going to soon see a full time restaurant added in that will have break out rooms on 111 in Derry.
Jeff Brown with TD Bank has a lending program particularly tailored to medical and dental deals. And Jeff says that they can do parts of deals with that program too.
Peter Gluckler with Masiello Better Homes and Garden Real Estate has a mixed use on Route 1 in York that could be an Inn, Bed and Breakfast, or upscale retail.
Christine Soutter with City of Somersworth Economic Development likes a lot of the Martini Northern projects including the gorgeous daycare on Epping Road where you don’t feel guilty at all to drop off your child and the Applecrest Function center. Chris also was wowed by Ute Luxem operating in one of her volunteer hats with a regional lending group. Chris also shared that there is some activity at the High Street Plaza where Empire Beauty is moving in and that land at Malley Farm with all utilities is ready for your shovels to hit the dirt and gain pay day.
Laura Farago with Colliers has a group looking for 1800 to 2400 sf along Route 1 or 236 in Kittery that is not at a plaza for a naturopathic pet supply place.
Jim Pereira with Martini Northern Construction thanked all for feasting on his feast.
David Choate with Colliers has a group looking for 10 acres for a CCRC that did look at Stone Quarry and the former McIntosh College site. They want a rural residential setting.
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 18 September 2015 at
One New Hampshire Avenue, Third Floor Conference Room
Pease International Tradeport
The sponsor will be Bank of New Hampshire