Seacoast Marketing Meeting Minutes February 2016

19 February 2016
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.  Profile Bank branches are in the Seacoast including Rochester, Somersworth, Alton, and Sanbornville.  Ute worked for Strafford Economic Development Corporation prior to joining Profile Bank and is quite adept at working through business loans capitalizing on available resources to float your boat.  Profile is happy to dodge and weave around hoops and hurdles with you to achieve your goal.

Cash Buyers

Tony Fallon with Tony Fallon Architecture arranges construction to your liking for commercial and residential, new and redo, in New Hampshire, Maine, and Massachusetts.

Bob Marchewka with One Commercial has two buyers.  One is looking for retail in Portsmouth not necessarily on Route 1 with 5,000 sf.  They will buy something larger and lease out the rest with no problem.  The other buyer is looking for 5000 sf of office space around downtown and may be interested in leasing.

Nick Aube with Avery Insurance is located in Portsmouth and Wolfeboro.  Nick helps with commercial insurance and real estate insurance from their Portsmouth office.

James Goodhue with Primary Bank noted they are the first bank launched in the last 7 years and that they serve from Concord to Northern Massachusetts as well as the Seacoast to Maine and North Boston.  Primary can provide full services including all the electronic features that Bank of America can offer.  They can offer C&I, commercial real estate, and construction lending among others.

Maxine Kenny with Colliers has a 1031 investor looking for investment grade properties with quality net leases anywhere in New Hampshire and Massachusetts going for 5 to 10 million dollars.  Maxine is also looking for a 10,000 sf of warehouse with the picture of closer to Portsmouth the better for a million dollars or so.

Katie Magnusson at Sweeney Title offers law and title services from their Nashua offices and other branches including in this building where we meet.

Andy Ward with Colliers has a builder/investor looking for a value add opportunity.  Vacant and partial tenant is OK.  Something mixed use or self-storage in Northern Massachusetts to Southern New Hampshire for 1 to 2 million dollars would be great.

Dave Garvey with KW Commercial is looking for 25 to 48 apartment units in the Seacoast area.  They will drift down into 5 and 6 cap rates but not the fours.

Joe Friedman with Brooks Properties is looking for 20,000 to 100,000 sf of office and industrial space along the I-93 corridor from Salem to Manchester.

Adam Johnston with Optima Bank is based in their Bedford office with local decision making.

Mark Phillips with Black Dog Realty in Newington thanked Profile Bank for working with him on a storage building in Dover.  Mark has 73 acres in Berwick that have water and sewer and would make a good mobile home park.  Mark pays handsome referral fees.

Bryan Dubois with Dubois Associates Real Estate and Dubois Appraisals is looking for a downtown office that could have a full bath and bedroom for out of town guests.

Ben Baroody with Baroody Real Estate and Associates is looking for retail and office with one office being within walking distance of the Courthouse in Manchester.

Andre Tremblay with Franklin Savings Bank says they are a mutual bank serving New England with 25 year fully amortized loans with 5 to 7 years fixed.

Robert Cruess with TF Moran & MSC tooted that they were the engineering category Best of Business for the 4th year in a row with the New Hampshire Business Review.

Jeff Brown with TD Bank has an investor looking for a mixed use development in the Lakes Region for hotel, apartment, and retail.  They have a net operating loss of 11 million dollars they would carry forward and so will have a light tax load to start.

Ralph Pope with Coldwell Banker has an investor looking for something that makes sense in an 8 cap and up with mixed use being fine or fully tenanted retail up to about 3 million dollars.  Also, Ralph needs a small office in Portsmouth preferably downtown but it could be out of town entailing 700 to 1500 sf for lease or purchase.  It could be in a current residence for conversion.

Michael J. Farinola, Certified General Appraiser Licensed in New Hampshire & Maine, appreciates opportunities to appraise your appreciating assets.

Marc Carbonneau with Georgetown Bank likes Mike Farinola’s good work.  Marc serves up money from their Exeter office conveniently located next to Lindt Chocolate and Convenient MD.  This is a Massachusetts based bank that is facile with partnership buyouts as well as medical and dental practice financing.

Erin Pike with Saint Germain Collins reminded us that they do remediations in Maine, New Hampshire, Vermont, and beyond.

Peter Kiriakoutsos with Howe, Riley, and Howe countered with counting amounting to the number of offices, two.  They have their main office in Manchester and a second in Portsmouth.  They help businesses, non-profits, trusts, and estates and have won the accounting section of NHBR awards for 6 years in a row.

Susan Scanlon with SVN has a great private equity group with a statewide portfolio offering owners the ability to take some cash out of holdings.

Rick Vandenberg with Weston & Sampson says don’t see black about brownfields.  Give Rick a call at their offices on Perimeter Road at Manchester Airport.

Bill Jean with Fulcrum Associates from Amherst, New Hampshire can help with buildings from their hatching to their redoing in New Hampshire, Southern Maine, and Northern Massachusetts.

Butch Ricci with DeStefano Associates offers CM and Design/Build in New Hampshire, Maine, Massachusetts, Connecticut, New York, and beyond from the hatching to latching.  Butch shared a need for a daycare that was damaged by some frozen pipes and is looking for 10 classrooms to hold 10 kids each for 3 months until the repairs are made.

Hank Beresin with First Street Brokers spoke of a 6,500 sf light manufacturing transaction and 15,000 to 20,000 sf in Nashua.

Keith Keeler with Shamrock Consulting provides voice, data, internet, and video conferencing for companies that are fast growing and constantly moving.

Marie Bodi with CP Management provides white glove property management cheerfully.

Diane Lewis with TD Bank handles the loans from a million dollars and down with Jeff Brown handling the million dollars and up in the Seacoast.

Tony Donovan with KW Commercial with offices in Portland and Portsmouth as well as Vero Beach, Florida has an investor looking in the Vero Beach area that needs no financing.

Rick Mulvee with Tower Realty has a cash buyer that buys bank notes aggressively and Rick noted he has sold them 800 notes over the years.

Vincent Chestnut with Alpha Locksmith lightens your key load.

Barbara Lizotte with Tobey and Merrill sells all commercial line types in New Hampshire, Maine, Massachusetts, and Vermont.

Al Silva with Silva Graphics works in the Tri-State area and has worked with Lonza and TF Moran/MSC.

Nina Cutts with the Institution for Savings has money to lend with long term fixed rates for commercial real estate in the Seacoast.

Gerry Mylroie with KW Commercial has a buyer for 5 to 6 acres with or without building for self-storage in the Manchester/Bedford area and another looking for land for a mobile home park.

Peter Gluckler with Masiello was dreaming of a dreamy off market find for 15,000 to 25,000 sf of leasable retail from Market Basket to the Fox Run Mall.  K-Mart is already locked up.

Gerry Bazata with Optima Bank sported his shiny new uniform after jumping ship.

Naida Kaen with Mariner Realty has some Main Street Durham offerings.

Bob Viel with ReMax Legacy has a buyer looking for a bed and breakfast with a 6 cap or more.

Mary Ellen Humphrey with Durham Economic Development will help if you are working or living or buying or selling in Durham or planning to do any of the above.

Laura Cortese with NBT Bank is their new brand ambassador based in Nashua and covering all of New Hampshire.

Ute Luxem with Profile Bank offered up 2 acres next to their Somersworth branch to anybody but another banker.

John Hall with Profile Bank lauded their lots of cash stash that they would like to benefit you.

David Choate with Colliers has a retail buyer looking for 10,000 to 15,000 sf in the Stratham/Exeter area and preferably on Epping road.  Existing is better than building new and they could do a lease with option to buy too.  David mentioned that Molly Malone’s sold recently for 800 thousand dollars to the owners of Pickwick’s Mercantile.

Announcements

The statewide NHCIBOR marketing meeting occurs on the 4th Wednesday of the month from 9:00 to 10:15 at the GMNBR training room at 318 South River Road in Bedford.

On 2 March 2016 there will be an RPR educational program for REALTORS that will be particularly helpful for smaller firms.  The system reviewed provides maps with various layers that are information rich which can be used for putting together brokers marketing pieces.

On 15 March 2016 from 5:00 to 7:00 pm at the Neighborhood Beer Co. on Epping Rd. in Exeter there is a NHCIBOR after hours social.

On 25 March 2016 at the SERESC center in Bedford, Nobis Engineering is putting on a seminar worth 3 credits covering the topic of environmental engineering. This is the Spring quarterly meeting for CIBOR.

Adam Johnston talked up NHCIBOR Cares, the philanthropic arm of NHCIBOR.  They are looking for donations for dollars and items to be auctioned to help with the plan to donate 10,000 dollars back into the community.  Adam also spoke about the awards event coming up for brokers and, new this year, for affiliates.  Submit your recent deals for consideration.

Maxine Kenny let us know about a young professionals ski trip at Loon Mountain on 18 March 2016 which was greeted with great banter about the definition of young.  The answer is in you.

Rick Vandenberg with Weston & Sampson mentioned a talk down the road on May 12th at Eversource put on by the Environmental Business Council covering the topic of brownfields.

Listings

Tony Fallon with Tony Fallon Architecture talked up Lakes Region Adaptive Sports fundraiser at Gunstock on Saturday, 12 March 2016.  For 125 dollars, you get to ski all day, a couple of meals, and chances at prizes with the grand prize, for those who raise the most, being a trip for 4 for two days at  Sugarloaf with tickets and a slope side condo.

Bob Marchewka with One Commercial has a 4000 sf building which might be able to grow to 5500 sf and comes with parking.  It is currently a restaurant and you can buy it for 1.5 million dollars after you sign the non-disclosure agreement.

Nick Aube with Avery Insurance teased James Goodhue for taking notes on his paper plate instead of the competitor’s Profile Bank notebook provided to all.

James Goodhue with Primary Bank noted that in the 6 months they have been up and running, they have 5 subdivisions under way, a credit tenant deal, small multi-families, offices, owner occupied, and C&I projects.

Maxine Kenny with Colliers has a 50 thousand dollar reduction on Zampa in Epping on 125.  This current restaurant is in a great location, entails 1.5 acres, and is going for the low low price of 600 thousand dollars.  Maxine also has 2900 sf at 4 Cutts Street in Portsmouth, close to downtown, going for 12.50 dollars psf NNN.

Katie Magnusson at Sweeney Title shared that theirs is an 80 year old 3 generation family law firm and title company.  One and all are welcome to their Saint Patrick’s Day party at the Nashua Country Club on March 17th.  James Goodhue tossed kudos of efficacy to Sweeney.

Andy Ward with Colliers is leasing 2280 sf at 89 Ledge Rd. in Seabrook that is industrial space with 22 clear height and a mezzanine and one large door as well as an office for 6.50 dollars psf NNN.  Andy has two right next to each other and so you can double your pleasure.

Dave Garvey with KW Commercial has 1600 sf and a 2400 sf in Durham at 9 Madbury Road.  They both have a deck and are asking 12 dollars psf NNN with nets netting $7.20.

Joe Friedman with Brooks Properties has office and industrial space in the Salem area from 1,300 sf to 50,000 sf.

Adam Johnston with Optima Bank helps deliver dough for real estate deals and C & I.

Mark Phillips with Black Dog Realty shared Windsor Brook’s 395 thousand dollar listing of 4 acres across from Liberty Mutual’s Dover campus with all utilities that looks like it could support a 40,000 sf building.

Bryan Dubois with Dubois Associates Real Estate and Dubois Appraisals is looking for some retail or other building types that can be converted into self- storage with 22 foot clear heights and 50,000 sf minimum.

Ben Baroody with Baroody Real Estate & Associates has a listing with three businesses on 125 in Brentwood going for 850 thousand dollars.  One of the businesses which buys and sells handicap vans is for sale too here.  Ben also highlighted again the cutest office ever in Bow along the Merrimack River.  Ben has a restaurant with real estate becoming available in Rochester.

Andre Tremblay with Franklin Savings Bank helps with lots of development lending including, townhouses, medical, apartments, offices, retail, hospitality, and self-storage.  They are flexible and have simple loan applications.

Robert Cruess with TF Moran & MSC has 12 fancy single home lots in Bow with awesome views from Mount Kearsarge to Mount Washington to Gunstock.

Jeff Brown with TD Bank serves up regional commercial lending with local decisions in their Portsmouth office.  They can help with valuation for medical and dental practices and work well with hospitality and franchise deals.

Ralph Pope with Coldwell Banker has a former bank in the recently revitalized and sparkling downtown Somersworth.  There is a drive through and vaults that are yours for 450 thousand dollars.  Also, Ralph is looking for a 25 to 40 bed facility that could work for a medical detox center in the Portsmouth area.

Marc Carbonneau with Georgetown Bank is happy to make notes in Profile Bank notebooks and sponsor the Neighborhood Beer event in Exeter.

Erin Pike with Saint Germain Collins helps with bank requests for environmental reviews.

Peter Kiriakoutsos with Howe, Riley, and Howe in Manchester and Portsmouth can help with accounting outsourcing from bookkeeping to CFO services.

Susan Scanlon with SVN has 1500 sf of retail across from Starbucks in a gorgeous building in the Old Port on Middle Street in Portland.

Rick Vandenberg with Weston & Sampson talked about the Berwick Prime Tanning redevelopment they are helping with and noted that two beverage companies are interested.

Bill Jean with Fulcrum Associates likes to help early on with up to date construction cost data.

Butch Ricci with DeStefano Associates has 40,000 sf available at the Seabrook New Hampshire Crossing along with some space at Southgate Plaza in Portsmouth.

Hank Beresin with First Street Brokers has a light manufacturing company in Nashua going for 2.3 million dollars and a commercial landscaping company that could be yours.

Keith Keeler with Shamrock Consulting helped a 300 person firm in Nashua reduce their telephone bill by 1200 dollars.

Marie Bodi with CP Management managed to manage properties again over the last month.

Diane Lewis with TD Bank helps with lending dollars.

Laura Farago with Colliers has Merchants Plaza in Rochester accessible by both exits 11 and 12 off of the Spaulding Turnpike that covers three parcels covering 1.93 acres going for 1.25 million dollars.  TD Bank has a right of first refusal and one other former business there is Steve’s Ice Cream.  Yum.

Lynne Bagby with Asset Preservation covers the New England region as well as across the country with 1031 constructs.  No exchange is too small and they can help with delays and multi-assets.  Lynne advised strongly that deals with multiple owners be surveyed early on in a deal to be sure that all are in with an exchange so that closings close.

Greg Gagalis with Carey & Giampa has a 14 unit hotel at Hampton Beach with 120,000 income going for 699 thousand dollars.

Tony Donovan with KW Commercial has 3 lots in the 4 acre range under 400 thousand dollars at Bethel Station at the foot of the mountain next to the village.  They are looking for a hotel developer to come on Inn.

Rick Mulvee with Tower Realty has 6 retail units in the Millyard in Manchester over three buildings with units starting at 2,000 sf and going to 35,000 sf on the first floor with ample parking.

Rick Rostoff with Linear Retail Properties came here for the first time about a year ago and announced their plan to buy 100 million dollars of retail assets.  They have achieved their goal.  One of the things that they bought recently is the Barnes and Noble in Nashua where they now own the whole corner and two shopping areas to the right as well as the nearby Chilis and Unos.  They are looking to buy shopping centers and free standing banks as well as land for development.  Linear just bought a small asset in Hampton and is also interested in buying bank notes from 2 million dollars to no maximum.

Vince Chestnut with Alpha Locksmith helps you unlock what’s all locked up.

Al Silva with Silva Graphics helps with signs from design through installation.

Nina Cutts with Institution for Savings helps with commercial real estate with long term rates at 4.3% for 20 years which is down 1/2%.

Gerry Mylroie with KW Commercial has a 5 unit multi-family that is a 10 cap for 199 thousand dollars in the Springvale/Sanford area that is a great product.

Peter Gluckler with Masiello has the Cape Neddick Inn for 1.5 million dollars that has earned a million dollars over a 7 year period.  The owner has some health problems and so needs to move on.  There has been 350 thousand dollars put into the facility recently and they have increased the monthly income by 15 to 20 thousand dollars per month by adding a lunch business.  The atmosphere is very nice and like the Library Restaurant.

Gerry Bazata with Optima Bank is assisting the Plummers with raising 500 thousand dollars for the Farnham Center which will provide drug and alcohol rehab for vets.  The have 300K so far.

Naida Kaen with Mariner Realty has a couple of 400 sf units and a 200 sf office all inclusive with heat and electric at 900, 800, and 500 dollars per month.  There is also a 2,000 sf unit.

Bob Viel with Remax Legacy has an auto repair across from Planet Fitness on Lafayette Road for 6.50 dollars psf.  Bob has a commercial industrial offering on Route 11 in Farmington that has some auto repair and sales there currently.

Mary Ellen Humphrey with Durham Economic Development keeps an inventory of commercial and retail spaces.  There are now two prime retail spots in Durham of 1600 sf and 2000 sf.  One could be good for office and one would be good for food.

Laura Cortese with NBT Bank shared that they have five locations in New Hampshire and one in Portland, Maine.

Ute Luxem with Profile Bank says to not give up if you have been turned down by others and drop on in.

John Hall with Profile Bank relayed that in his 30 years of banking, he has seen a lot and has never seen such a tenacious advocate for applicants like Ute.

David Choate with Colliers has 22,000 sf of excess space not needed at a recent acquisition of 27 Production Drive in Dover.  This light manufacturing, warehouse space has 2 loading docks.  At Pease, there is 3,000 sf  of office space at Two International Drive on the first floor – nice space where an insurance company just departed.

Haves and Wants

Bob Marchewka with One Commercial has a small retail offering on a corner of Central Avenue in Dover entailing 900 sf and going for 1300 dollars per month.  Bob also has 10,000 sf of 24 foot clear height industrial space in Hampton.

James Goodhue with Primary Bank also does medical and dental practice financing.

Maxine Kenny with Colliers has a high visibility retail offering at 914 Central circa Weeks Crossing in Dover entailing a 1.4 acre ground lease and 25,000 vehicles per day.

Andy Ward with Colliers says that the Bernie Sanders offices at unit 11 in 235 West Road Portsmouth covering 3,462 sf is going to be available and has all offices built out.  It also comes with 750 sf of warehouse and is going for 7.50 dollars psf NNN, an attractive deal.

Joe Friedman with Brooks Properties highlighted their Brookstone Park which recently has shifted to an all function facility which is great for corporate events complete with break out rooms, great food, and a pastoral setting overlooking their 9 hole golf and mini-golf course.  Come take a well deserved break with break outs to golf and break dancing.

Mark Phillips with Black Dog Realty has two house lots in Milton that back in the day were going for 85,000 dollars and now can be scooped for 29,000 and 49,000 respectively.

Ben Baroody with Baroody Real Estate & Associates let us know that the offering he spoke of in a previous round also comes with an auto auction license too.

Andre Tremblay with Franklin Savings Bank donned the NHCIBOR membership beanie and effused the efficacy of being a member with a pretty painted picture of the bounteous benefits and how you will fully flourish with us.  Andre also suggested one of the affiliates might want to write an article for the NHCIBOR website on environmental regulations for real estate transactions geared towards brokers and bankers.

Erin Pike with Saint Germain Collins says they have an online order form for environmental assessments.

Peter Kiriakoutsos with Howe, Riley, and Howe says we’ve only got 59 more days to tax day!

Hank Beresin with First Street Brokers has several investors looking for car washes or land that could be car washes.

Marie Bodi with CP Management is off to a vacation on Sanibel Island.

Laura Farago with Colliers has a corner unit on Central Avenue in Dover with 1200 sf going for 1600 dollars per month and a 1600 sf for 1500 per month nearby.

Lynne Bagby with Asset Preservation encourages all to opt for options.

Tony Donovan with KW Commercial effused the efficacy of this meeting and minutes being emailed monthly to all previous attendees over the last 6 years each month.  With this vehicle, he has put 2.2 million dollars worth of unlisted real estate under agreement.  Thanks one and all.

Rick Rostoff with Linear Retail Properties happily pays brokers their fees for properties not on the market.

Nina Cutts with Institution for Savings offers long term fixed rate loans to 30 million dollars.

Naida Kaen with Mariner Realty thanked Mary Ellen Humphrey for great work and Ute Luxem for many helpful visits to her office.

David Choate with Colliers broadcast a public service announcement for the Pontine Theatre in Portsmouth which is being displaced from the West End and seeks a 500 to 1000 sf space in Portsmouth so as to let the show go on.

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 on the third Friday, 18 March 2016, at

One New Hampshire Avenue, Third Floor Conference Room Pease International Tradeport

The sponsor will be TD Bank

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