19 January 2018
NHCIBOR, New Hampshire Commercial Investment Board of Realtors
Minutes of Seacoast Marketing Session which occurs every third Wednesday of every month.
Third Floor Conference Room, One New Hampshire Avenue
Pease International Tradeport.
Portsmouth, New Hampshire
Thank you to Two International Group for providing this meeting space!
Chris Mark with Restore My Floor was the breakfast sponsor. Chris says if you walk in it, they work on it. Their company can help maintain and install a broad spectrum of hard and soft surfaces for strolling on through your beautiful building. A call for keeping clean came with a fun fact of 1.5 million skin cells dropping on a carpet from each person over the course of our meeting. Likewise cleaning grout lines was a line and Chris updated us with updated care that replaces stripping and waxing with a treatment that lasts two to five years with no yellowing. Please contact Chris to keep with or get a new plane to walk on, be it plain or fancy.
Tony Fallon with Tony Fallon Architecture shared the story of a trend reversal with a building becoming a church instead of a church becoming another type of building. The Parish of the Assumption recently celebrated the opening of the Assumption Chapel at a former branch bank in York, Maine which he designed.
Liz Nolan with Allobar let us know of deadlines to submit your tax abatements.
Mark Lacoy with Allobar shared that they help you negotiate lower taxation.
Andy Ward with Colliers has an investor looking in the 500K to 2M range within 30 miles of Portsmouth for a value add and no particular cap rate. They prefer retail.
Eve Hoefle with Two International Group let us know that they seek to purchase additional office buildings and are doing so beyond Pease and Portsmouth up to 25M.
Vincent Chestnut with Alpha Locksmith kept all in the Christmas spirit with offerings of gift certificates.
Matt Bacon with NAI Norwood is looking for something in downtown Portsmouth with a housing component for under 2M. Mixed use with some office or retail below and apartments above would fit the bill. In Manchester, Matt is looking to find a spot to plunk some 1031 cash and hoping to identify the spot by mid-February. 3M sans leverage is the pretty picture.
Joe Horvath with Optima Bank wheels cash to a wide variety of real estate buys and businesses from warehouse to industrial to office.
John Dal Santo with DSI recently bought 62 1/2 Lafayette Road in North Hampton where The Maids used to be. Need space? Call John.
Noah Behrend with HBL Insurance offers residential and commercial insurance from his Portsmouth office.
Carol Estes with Granite Bank shared that they are being acquired by Bangor Savings Bank.
Tom Howard with JTC helps with geotechnical, materials testing, and environmental topics.
Robert Cruess with TFM/MSC offers a full suite of site design services from Bedford and Portsmouth offices.
Peter Gluckler with Masiello has a buyer looking for 24 unit and up multi-family settings anywhere.
Scott Forte with Berkshire Hathaway Verani operates in Massachusetts, Maine, and New Hampshire. Scott has a search for 2 to 3 acres south of Portsmouth for storage and indoor climbing. Also sought is a retail plaza under 1.2M in the greater Seacoast area.
Jeff Boufford with Boyd and Boufford serves Southern New Hampshire and introduced his new associate Blake Corbit.
Kevin Raymond with Optima Bank touted the opening of their Dover branch due the 29th.
Mike Whitman with Bangor Savings sells cash.
Matt Lafebvre with Elm Grove Realty has a hunt for multi-families from 500K to 5M in central or southern New Hampshire that are in snappy or snapped shape.
Ray Sirois with Service Master is a restoration specialist bringing you back from big and small bumps. Ray has enjoyed the great work of Restore My Floor.
Joel Santos with Chapman has enjoyed this first year in New Hampshire where they have had a successful start. 2018 looks promising. David Choate and Dave Garvey chimed in with what a great job Chapman did on converting the yellow barn in Durham to a beautiful green barn.
Peter Hoekstra with Peniel Environmental abates asbestos and other nasty nasties in New England and New Hampshire.
Ellen Bates with Office Interiors in Dover provides space planning, design, and contract furnishings.
Margaret Dodge with Service Credit Union offers flexible financing fast.
Vicky Gray with Camden National Bank finances in Southern Maine, Seacoast New Hampshire, and Northern Massachusetts. They now have a loan production office coming in Portsmouth.
Erin Pike with Saint Germain Colliers are environmental consultants for lenders, buyers, owners, property managers, and brokers.
Andy Fleisher with NAI Norwood has three investors looking for opportunities in the 400K to 800K range in the Seacoast, Dover, and Portsmouth.
Eric Kilchenstein with Devine Millimet let us know they now have a beautiful Seacoast office.
Wayne Semprini with Olde Port Properties has a charitable organization seeking 3,000 to 4,500 sf along the coast route within 1.5 miles of Downtown Portsmouth.
Matt Preston with EnviroVantage achieves indoor air quality, mediates messes, and does demo.
Steve Jones with Building Envelope Specialists helps keep the outside outside.
Ralph Pope with Coldwell Banker has someone looking for a small mixed use in the 200K range that is a good deal. Ralph also has a party looking for a good opportunity in Dover with a mixed use and they are flexible on price.
Romeo Danais is an investor joining us at the invitation of Caitlin Burke. Romeo seeks to plunk 4M of 1031 cash or up to 8M with leverage in an industrial setting in Southern New Hampshire from Nashua to Manchester to Portsmouth.
Caitlin Burke with CBRE of Portsmouth has a tenant looking for 5,000 sf of industrial space in Portsmouth.
Justin Mikolyski with Creative Office Pavilion designs work spaces and fits them with furniture.
Erik Crisman with Brookstone constructs space constructively.
Al Silva with Silva Graphics was graphic about full services of signs inside and out, custom and off the shelf.
Ute Luxem with Profile Bank has money to lend.
Jeff Brown with Cross Insurance has construction insurance, builder’s risk, and other construction related insurance policies. They can also love property insurance and can write policies in all 50 states.
Dave Garvey with KW Commercial has a 2.2 million dollar chunk of 1031 cash that will close mid-February. They have a couple of options and would like to look at a couple more. The pretty picture being peeked at is a 6 to 7.2 cap NNN with single to three tenants in the Seacoast.
Bob Viel with Bean Group serves Maine and New Hampshire brokerage beautifully. Bob has an investor looking for 4,500 sf of office in specifically Dover or Portsmouth. They can go up to 5,500 sf and would like to move circa the first of June.
Scott Kingsley with Profile Bank works from their Bedford offices wheeling commercial cash to your delightful deals in Maine, New Hampshire, and Massachusetts. Scott is seasoned since 1990.
Dan Barufaldi with DBIDA announced the finalists for the 30 acre waterfront development being Cathartes, Summit, and Chinburg. This exciting mixed use resource and waterfront park is scheduled to be fully built out in five years.
Joe Campbell with North Branch offers CM and GC from their Concord offices. They are enjoying the exposure with the Portsmnouth Traffic Circle liquor store but have no free samples.
Ryan Theil with Ehrlich Pest solves pesky pest problems.
Mari Bodi with CP Management has offices in Exeter, Manchester, and Providence that offer third party management for properties properly. Marie brought our attention to NHCIBOR Cares, the philanthropic arm that has some money to share for your charity.
Andrew Robbins with Colliers has been at it happily for two months and is studying for the licensing exam.
Bill Jean with Fulcrum of Amherst provides construction services to New Hampshire, Northern Massachusetts, and Southern Maine. They have a multi-family developer that is quick to market and closing looking for near to approval or lapsed approval deals.
Christopher Mark with Restore My Floor can do a quick screen and finish or full sand and finish of your hardwood floors.
David Choate with Colliers has a 1031 buyer that lives down the street from him in Rye who is selling a property in Western Massachusetts and would like to find a single tenant NNN in Maine, New Hampshire, or Massachusetts in the 6 to 7 cap range.
The Statewide NHCIBOR meeting is the fourth Wednesday of the month at Matheson Education at 166 South River Road in Bedford from 9:00 to 10:15 am (NOTE CHANGE OF LOCATION).
Please email David Choate with preferences for 2019 breakfast sponsoring.
NHCIBOR Public Policy Committee is busy with the new legislative session. Matt Bacon spoke about the need to push back on the bill sponsored by the assessors that would mandate businesses open their books to municipal assessors. This is effectively double taxation as another income tax.
There is an ethics training class in February.
There is a similar marketing meeting getting going in Massachusetts at the Salisbury Sea Glass Restaurant on Thursday 8 February starting at 5:30 pm. Please contact Scott Forte who is spearheading.
Bob Viel shared a topic with regards to managing brokers and agencies with satellites where quite a bit has changed and compliance is tougher.
Really using CPE is a good idea.
Tony Fallon with Tony Fallon Architecture shared the story of having a parcel sold out from under White Horse Addiction Center on the way to zoning and how the Hand of God worked well. Tony started calling owners of larger parcels to see if any would want to donate some land. An anonymous donor has offered to assist and intends to donate 30 acres for a campus that will provide residential services along with training, education, and a chapel. White Horse has helped the overdose rate plummet in Ossipee from 6-7 per week to 1-2 per month in just two years. White Horse founder walked away from 2M in income and invested 2/3 of retirement nest egg. We welcome others wishing to oar in with this positive light succeeding in a rough arena.
Catie Medeiros with Kane has 1,300 sf for 550K or 38 dollars psf modified gross at 33 Deer Street.
Dave Schleyer with Chinburg will be moving in people to 60 apartments starting in February where there is also 20,000 sf of commercial space with 2,000 sf on the second floor available. Dave also has space in Dover and Newmarket.
Liz Nolan with Allobar let us know that partial tax abatements can be achieved for tenants in New Hampshire, Massachusetts, and Connecticut that can be applied for by either the owner or tenant.
Mark Lacoy with Allobar shared that they offer 20% referral fees and that vacant or under leased settings are good candidates.
Andy Ward with Colliers highlighted a new listing at 727 Lafayette Road in Seabrook that is a brick office that is 5,576 sf and 91% occupied. All of the tenants are “at will” and there are two anchor medical tenants. Seabrook Commons is across the street.
Russ Doyle with Two International Group has 1,500 sf to 13,000 sf contiguous for 12 dollars psf NNN with 7 dollar cams at 200 International Drive. This mixed use location is a nice rate and not too far from the higher price offerings.
Eve Hoefle with Two International Group says come talk to her about your low income tax credits.
Vincent Chestnut with Alpha Locksmith shows you how to show when you lost the keys.
Matt Bacon with NAI Norwood has an off market parcel of 8 acres that might hold 21 single family lots or 48 age restricted condos that is yours for 1M.
Joe Horvath with Optima Bank can do owner occupied lending.
John Dal Santo with DSI recently bought 62 1/2 Lafayette Road North Hampton where the 1,800 sf is available for 12 dollars psf NNN.
Noah Behrend with HBL Insurance offers property insurance for the higher risk settings.
Carol Estes with Granite Bank shared that they have SBA loans sub 5% for owner occupied.
Tom Howard with JTC let us know they are going through a rebranding and website redo as well as offering expanded services.
Robert Cruess with TFM/MSC shared a hotel project in Newington that has been on and off and is now on again.
Peter Gluckler with Masiello has a Kittery mixed use of 6,000 sf that could be office, retail, or maybe a mini-mall with 3 phase power for 799K.
Scott Forte with Berkshire Hathaway Verani has 40 cottage units and a house with 3-4 bedrooms along with an industrial laundry and workers quarters for 2.99M. Maybe it could do the condo two step with condos there going for 100K to 120K?
Jeff Boufford with Boyd and Boufford has some reasonably priced insurance lines for commercial property investors and customized fits.
Kevin Raymond with Optima Bank has a sale on money.
Mary Ellen Humphrey with Durham Economic Development announced the approval of the Riverwoods project on January 10.
Mike Whitman with Bangor Savings delivers dough.
Matt Lafebvre with Elm Grove Realty has 3,100 sf at 56 Prospect in Manchester where there are 8 office units with leases signed to 2019 garnering 44K per year and a net of 25K per year that is ripe for the picking at 319K. Also, Matt has 26 Pleasant in Concord with individual offices and 15 Pleasant with retail and both are available April 1st.
Ray Sirois with Service Master brings your building back in Northern Massachusetts, New Hampshire, and Southern Maine.
Joel Santos with Chapman says they have been up and running since 1984 and commercial interior fit ups is what they do hands down.
Peter Hoekstra with Peniel Environmental keeps you clean.
Ellen Bates with Office Interiors in Dover has a 9,000 sf office in Downtown Dover close to the exciting waterfront project. Come meet with their designers in their state of the art showroom and office.
Margaret Dodge with Service Credit Union lends across New England and is facile with lending to co-work spaces. David Choate noted that Colliers International just launched a co-work focused team in Dallas.
Robin Comstock with Somersworth Economic Development is sold on selling Somersworth.
Vicky Gray with Camden National Bank lends in mixed income finance 40B space.
Erin Pike with Saint Germain Colliers helps fill in the SBA loan form quadrants about environmental status.
Andy Fleisher with NAI Norwood has 40 Middle Road back on the market that could continue as auto repair or perhaps become 4 homes. Scoop it up for 520K.
Eric Kilchenstein with Devine Millimet is helping put together a parking garage near the Millyard for 55M and is looking for additional participatory lending for this deal.
Wayne Semprini with Olde Port Properties has 2,500 sf at 507 State Street, a former church.
Matt Preston with EnviroVantage is happy to look at your distressed mess.
Steve Jones with Building Envelope Specialists looks at buildings pre-purchase to check the perimeter.
Ralph Pope with Coldwell Banker sold one of the two Rochester mixed use buildings and has one to go which is a brick building with 16 homes and 4 commercial spots serving up a 9.5 cap at 995K. Yes, this can be yours.
Romeo Danais has an old listing which is a small medical condo across from Wentworth Douglass entailing 1,800 sf for 199K that you can zip right into.
Caitlin Burke with CBRE of Portsmouth has a tenant looking for 5,000 sf of industrial space in Portsmouth.
Justin Mikolyski with Creative Office Pavilion helps shift work stations from here to there.
Steve Mangekian with Alpha Inspections has 5 inspectors serving both residential and commercial from the Lakes Region and South and into York County. Alpha helps banks assure construction progressive payments are appropriate.
Erik Crisman with Brookstone springs from Manchester each day and their site is brookbuild.com.
Al Silva with Silva Graphics has been at it for 28 years and has helped Lonza and TFM/MSC.
Ute Luxem with Profile Bank shared that they hold all commercial loans in house and service all commercial loans in house.
Jeff Brown with Cross Insurance has insurance for the digital dangers. Jeff told a story of a hacker emailing falsely from one company officer to another requesting a shift of 40K to an account which was executed. There are insurance policies Jeff has that covers such thefts.
Dave Garvey with KW Commercial has a 30 residential unit with 1 commercial unit mixed use property on 2.58 acres in York serving up a 6.92 cap.
Bob Viel with Bean Group is a broker in Maine and New Hampshire. Bob has 112 acres at 567 Main in Danville at an old egg farm that will be a great site for a residential development. Bob has had a lot of activity there.
Scott Kingsley with Profile Bank meets you with money.
Dan Barufaldi with DBIDA let us know about an opportunity that doesn’t happen often. There are 14,700 sf at Enterprise Park in Dover that Dan is sure that it will go quickly. Kane has the listing.
Joe Campbell with North Branch is celebrating 60 years in business with a new site at nbranch.net.
Ryan Theil with Ehrlich Pest says don’t say “rats” about rats – call Ehrlich.
Mari Bodi with CP Management handles the calls about pests so you can rest.
Andrew Robbins with Colliers works out of the Manchester office.
Bill Jean with Fulcrum helps early on with early budgets and works in a broad spectrum of project types from chemical manufacturer to panel manufacturer to multi-family to self-storage.
Christopher Mark with Restore My Floor works on what you walk on.
David Choate with Colliers has a small 1,400 sf office on Nimble Hill above the New England Parts Warehouse where a General Sullivan Bridge construction field office has been. Affordably priced at 1,000 dollars per month gross with a couple of offices and plenty of parking makes this attractive.
Haves & Wants
Catie Medeiros with Kane has an old listing at 634 Central Avenue in Dover that just got a fresh coat of paint and brand new floors.
Liz Nolan with Allobar can help project tax exposure over the next 5 years.
Mark Lacoy with Allobar shared that they saved one party a couple million dollars.
Andy Ward with Colliers highlighted a 500K lot at 4 Rochester Neck Road. Andy thanked Robert Cruess for a conceptual site plan there showing a 85 unit multi-family setting. Andy got a text from Lynne Bagby thanking all for contacting reps about the 1031 legislation.
Russ Doyle with Two International Group talked up 200 International Drive again as nice space at a great rate.
Eve Hoefle with Two International Group is looking to buy office buildings and assists managing these assets.
Vincent Chestnut with Alpha Locksmith met a medical marijuana business owner on Martha’s Vineyard who seeks investors.
Matt Bacon with NAI Norwood has 88.86 acres of industrial land for development with good land, good soils, municipal water, municipal sewer, and natural gas in Hudson. They can serve up large or small parcels promptly.
Peter Gluckler with Masiello attended the annual MEREDA conference in Portland with 900 others. Some fun facts are the 1.25% vacancy rate and 7 dollars psf lease rate for industrial. Multi-family units are going for 103K per unit and there is not much inventory in Portland, but there is a ton of construction there. The design/construction pipeline cannot keep up with demand.
Mike Whitman with Bangor Savings shared that there are MEREDA presenter’s slides available online so all interested can peruse the fun statistics. There was lots of upside and excitement in the air.
Matt Lafebvre with Elm Grove Realty has an immediate need to purchase 2,500 sf to 3,500 sf in Derry or Londonderry.
Margaret Dodge with Service Credit Union has local decisions, flexible terms, and 30 year notes.
Robin Comstock with Somersworth Economic Development helps you show in Somersworth.
Wayne Semprini with Olde Port Properties has a suite of offices at 117 Bow Street that have been well rented and offer a 6.7 cap with the price of 1.275M. Zoning has indicated they might entertain converting some of the first floor space to residential.
Matt Preston with EnviroVantage is looking for office space at the 93/95/128 juncture in Woburn.
Ralph Pope with Coldwell Banker is gathering options for workforce housing sites in Rochester and Rollinsford that could be land or land with buildings.
Steve Mangekian with Alpha Inspections is happy to meet with brokers and affiliates with regards to optimizing search engine rankings via cross linking websites.
Dave Garvey with KW Commercial served up kudos for Chapman for the barn conversion in Durham and noted how 5 companies from this meeting worked on that project.
Bob Viel with Bean Group is a broker in Maine and New Hampshire and works out of Bean Group’s Portsmouth office.
Dan Barufaldi with DBIDA let us know that last year twenty new businesses moved to Dover and one moved out.
Mari Bodi with CP Management has a new account at Silver Square in Dover and has another new account entailing 65,000 sf of industrial in Haverhill.
David Choate with Colliers has the former movie theater at Pease next to Optima Bank at 30 International Drive where the top floor is becoming vacant. These 9,700 sf are receiving a new visioning plan by Ellen Bates and Office Interiors. A larger tenant looking for a single floor would be a great fit and the owner will do a build out to suit.
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 8:30 – 9:45 am on the third Friday, 16 February 2018
In the Third Floor Conference Room of Two International Group’s Building at
One New Hampshire Avenue, Portsmouth, New Hampshire, Pease International Tradeport.
Primary Bank will be the breakfast sponsor.