Seacoast Marketing Meeting Minutes January 2019

 

18 January 2019

NHCIBOR, New Hampshire Commercial Investment Board of Realtors

Minutes of Seacoast Marketing Session, which occurs every third Friday 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!

Michael O’Reilly and Michael Whitman with Bangor Savings Bank were the breakfast sponsor for this meeting. Their employees are their key assets. They are dedicated to nurturing an internal culture of excellence for each of their employees, and ensuring that it shows in every interaction. They strive to do what is right for their employees so that they, in turn, will do what is right for customers – not just today, but well into the future.

No matter how large or small, they are committed to serving and meeting their customer’s needs. They build genuine relationships that last for generations by providing customers with a differentiated experience, convenient technology, and personalized solutions.

Bangor Savings is dedicated to providing support to communities where their employees live and work. That is why last year, they invested over $2 million from the Bank’s Corporate Giving program and grant-making through the Bangor Savings Bank Foundation.

 

Cash Buyers

 

Frank Rossetti with Coldwell Banker Commercial currently has no cash buyers

Chris Blais with Plum Lending currently has no cash buyers. However, he has 25 years of financial services experience in New Hampshire and the New England region. He has worked in wealth management with Fleet Bank/Bank of America, commercial real estate banking and portfolio management with Hampshire First Bank and Optima Bank & Trust, and insurance at Nationwide.

Dave Garvey with KW Commercial has a cash buyer looking for 20k sf anywhere, preferably on a highway like 125. The seacoast area is not ideal, but he is looking for manufacturing building/space.

Bill Hendrick with Restore my Floor is part of the business development team. Even though our friend Christopher wasn’t at this meeting, we should still mention his slogan “If you walk on it, well work on it”. Also, Bill mentioned that they are looking for part time workers for their company.

Bryan Dubois with Dubois Associates has a cash buyer looking for a self-storage unit project in the Nashua/ Hudson area.

Catherine Williams with Strategic Spaces is their Senior Account Manager. Combining over 30 years of experience in the furniture industry, their team founded Strategic Workspaces in 2003, determined to make customer service paramount, and to intersect business strategy with the design of office interiors.

Scott Forte with Century 21 currently has 2 cash buyers. The cash buyers are looking for 15k sf and 25k sf. These spaces are being looked at as a gym, and the other as office space.

Ryan Theil with A1 Exterminators of Lynn, Massachusetts lives in Dover and is helping them move into New Hampshire given his 5 years industry experience. He thanked members of CIBOR for the business he has received over the past couple of months.

Paul Alfano with Allobar Strategies provides unparalleled personalized real estate tax consulting services to a broad range of commercial and residential clients in New Hampshire. They specialize in all commercial property types, including industrial; retail; multi-family and special use properties.

Erin Pike with St. Germain Collins is a scientist, Environmental Project Manager and Lender Services Manager on the St.Germain Collins team. Since 2005, her experience includes groundwater monitoring and reporting, tank removals, soil removal supervision, installation of monitoring wells, and project management

Heather Rowan with Kimball Furniture is the Market Sales Manager. At Kimball, they craft what’s next. They are always considering new possibilities, sharing ideas, blending technology with materials, and designing new solutions. They apply rich heritage to create workspaces that support an ever-changing world. They design the workspaces where the work gets done now – and in the future.

Nicole Canavan with Berkshire Hathaway Verani Realty has a cash buyer looking for 2 plus acres in the seacoast area. Additionally, she has a church group looking for 8k sf looking to buy in southern NH.

Bryan Goodwin with Berkshire Hathaway Verani Realty has an investor looking for residential or commercial properties in Manchester.

Andy Ward with Colliers International has a cash buyer looking for a medical office around 6k sf that is preferably an existing business in the seacoast area.

Tom Howard with John Turner Consulting currently has no cash buyers. Tom Howard is the Vice President of Business Development at John Turner Consulting. John Turner Consulting, Inc. (JTC) is a multi-discipline consulting firm founded in 1997, providing geotechnical engineering and consulting, environmental consulting, special inspections, utility inspections, highway inspections, materials testing, and structural and infrared evaluations. They have grown to a staff of over 100 professionals providing services throughout New England and the state of New York.

Ethan Ash with KW Commercial has a cash buyer looking to spend up to 1 million dollars for mixed used purposes.

Jeff Boufford with Boyd & Buofford Insurance provides insurance to Southern NH. They specialize in commercial real estate.

Marie Degulis with Secondwind Water Systems is a New Hampshire, family operated, woman-owned business.  Secondwind Water Systems opened their doors in 1989, and twenty-five years later serve over 10,000 residential and commercial customers, manage 130 small public water supplies and work with Engineers and the State of NH on over 100 gasoline contamination sites.  They designed unique treatment for each and every one. They are your regional water experts.

Kevin Raymond with Optima Bank currently has no cash buyers, but has up to 30 million dollars to lend out.

Steve Mangekian with Alpha Inspections has been an inspector since 2004. In December, the company will add its 6th inspector to the team and performs both residential and commercial inspections. He also teaches CEU classes at a variety of different offices around the state. If you are ever looking for one, let him know!!!

Lindsay Desmettre with WS Development currently has no cash buyers… but stay tuned because she has a ton of listings available.

Jason Settineri with Build It Construction delivers expertly planned interior renovations for both privately and publicly held companies.

Roxanne Barnes with Luxury Homes currently has a cash buyer looking to buy car washing companies and willing to spend up to spend 3 million dollars.

Chris Dunn with Keller Williams currently has no cash buyers.

Vince Chestnut with Alpha Locksmith brings professional security to your home or business.

Al Silva with Silva Graphics is serving the New England area with more than 20 years experience in the sign industry. They offer a large variety of products and service for all your sign needs.

Bill Jean with Fulcrum Associates provides CM for tenant improvements and ground up development.

Kate Bristol with NewVo Interiors provides unique office interior consulting. They focus on the concept of bringing the best value to their selected clients while achieving the look they require.

Ned Raynolds with Revision Energy is a commercial solar consultant. Revision Energy is 100% employee owned and operated. Their teams of in-house solar specialists have built over 7,000 solar energy systems in the region.

Joel Santos with Chapman Construction provides construction management services for projects large and small. In business for more than 30 years, they maintain long and successful relationships with their clients and partners. They pride themselves on our skilled and personable staff.

Pam Bishop with Federal Savings Bank has a cash buyer looking to buy up to an 8-unit property.

Matt Lefebvre with Elm Grove Realty has cash buyers looking for office space in the Epping/Newmarket area up to 2 million dollars.

Joe Friedman with Brooks Properties has a cash buyer looking for industrial office space on the I-93 corridor between 20k-100k sf.

Ute Luxem with Profile Bank is the Vice President of Commercial Lending. She has plenty of money to lend, but no cash buyers currently.

Marie Bodi with CP Management provides a comprehensive level of service with over a century of combined experience in various disciplines, including property management, construction management, development, maintenance, and in-house asset management.

Lisa Davis with Voyager Insurance Services currently has no cash buyers. At no cost to the employer, let Voyager Insurance Services meet with your employees to quote them out Home & Auto Policies where they can received an additional 10% credit on each policy just for being your employee.

Nicole Gorski with Office Works New England currently has no cash buyers.

Scott Kingsley with Primary Bank provides commercial, industrial, and residential loans.

Dylan Cruess with TFM Engineers provides full service developmental for retail, industrial, energy, office, institutional, and residential properties. They have been providing New England with engineering excellence since 1968.

Dan Barufaldi with Dover Economic Development works with the Dover Business and Industrial Development Authority to promote a strong, healthy and desirable business community in Dover. He also mentioned that Dover is working on opening up a sports complex.

Ray Dugdale with Colliers International is a Financial Services Advisor. He has over 30 years of experience in the commercial finance industry, honing a broad skill set which includes loan origination, financial analysis, loan structuring, and problem resolution for commercial, retail, and industrial properties.

Abby Morneualt with Colliers is 40% done with her licensing to become a real estate agent!!!

Caitlyn Burke with The Boulos Co. has a cash buyer looking for restaurant space in Newburyport Mass. Also, another cash buyer looking for 40k sf strictly for storage space purposes on the I-93 corridor.

Nick Grey with The Boulos Company attended his first meeting and is looking forward to future CIBOR meetings.

Michael Whitman and Michael O’Reilly with Bangor Savings have no cash buyers. However, they were this month’s sponsor for the meeting and we thank them for the delicious breakfast pizza they served!!!!

David Choate with Colliers has a cash buyer looking for an industrial building in southern Maine, anywhere between 10-25k sf. Additionally, a cash buyer looking for 5k-15k sq ft of industrial space in Maine to use as a marijuana growing facility.

Rick Rostoff with Linear Retail just acquired 7 properties in the last 6 months.

  • 19-21 School Street in Boston, MA. Valued at 5 million and is 8,131 sq ft.
  • 1197-1203 Walnut Street in Newton, MA. Valued at $7.9 million and is 17,400 sq ft.
  • 309-321 Walnut Street in Newton, MA. Valued at $3.3 million and is 5,860 sq ft.
  • 2-8 Pilgrim Street in Plymouth, MA. Valued at $7.95 million and is 19,631 sq ft.
  • 25 Waltham Street in Lexington, MA. Valued at $2.05 million and is 3,729 sq ft.
  • 1342 Main Street (HomeGoods) in Reading, MA. Valued at $5.5 million and is 30,00 sq ft.

They are looking to buy more properties anywhere in the range of $3M-40M. Properties they are looking for are strip shopping centers, urban retail, retail condominiums, freestanding retail, storefronts, and development parcels. They buy anywhere from Eastern Mass, Southern NH, Rhode Island, and Southern Maine.

 

Announcements

– There will be a professional development series, February 22nd, at Berkshire Hathaway Verani in Londonderry. Free to NHCIBOR members, but please register in advance.

– Next month’s sponsor will be Restore my Floor

– Next Seacoast NHCIBOR meeting will be Friday, February 15th, from 8:30- 9:45 am.

 

Listings

 

Frank Rossetti with Coldwell Banker Commercial currently has a listing on 81 Ledge Road in Seabrook for $615,000. At this time, the total property is available to purchase with the approvals for an 18,000 sq ft building with 3000 sq ft mezzanine or as industrial condos .  Proposed building will have 6 condo units for sale with 3,000 sq ft bays up to 18’ ceilings and a 500 sq ft office on mezzanine level included with each industrial condo. Restrooms will be in unit and additional restrooms on office level. $405,000 each 3,500 sf with 6 units available.

Dave Garvey with KW Commercial has a listing in Seabrook that is 5k sf, which is a commercial building valued at $599,000.  Also, another potential listing in Portsmouth that could be anywhere from 30-50 units.

Bryan Dubois with Dubois Associates has a listing for office that is 831 sf that is being leased at $12 per sf.

Scott Forte with Century 21 currently has a listing for a 40-condo complex in Wells, Maine that was formerly a motel.

Andy Ward with Colliers International wanted to mention that the coffee shop Breaking New Grounds in Portsmouth has been sold, and now that space will be used for the company Tuscan Kitchen to move in.

 Ethan Ash with KW Commercial has a couple listings available. The first is restaurant space located in Durham that is 1,400 sf that has a kitchen already built in, and is valued at $18 per sf triple net. The second listing is located in Rochester that is 3,300 sf and was formerly the Old Cadillac Restaurant, which includes basement space. This listing is valued at $16 per sf triple net. His final listing is another restaurant in Durham, which was formerly the restaurant Lexie’s, and is 3,800 sf. This listing includes a huge walk in kitchen and is valued at $20 per sf triple net.

Lindsay Desmettre with WS Development currently has numerous listings located at different shopping centers around the state. The first listings are located in the Epping Crossing shopping center. One of the properties is 2,001 sf on Route 125 and the other is 3,500 sf in the same shopping center. Both are located at the intersection of Route 101, which is midway between Portsmouth and Manchester, and both are visible from Routes 101 and 125.

Another listing of hers is 6,458 sf, located on Route 101A. It has a significant presence of national and regional retailers in the market. This is a Massachusetts shopper destination due to the favorable tax rates.

Last, but not least, she has 4 listings in the Lafayette Crossing shopping center located in North Hampton. The four listings consist of 10,613 sf, 1,984 sf, 2,361 sf, and 1,600 sf. Some facts about these listings are that this shopping center is located between Portsmouth and Seabrook, serves affluent communities of Rye Beach, Exeter, Hampton, and Seabrook. Lastly there are a variety of different businesses located in Lafayette Crossing with a strong soft goods retail mix.

Roxanne Barnes with Luxury Homes has a listing available on 65 Lafayette Road. Some keys facts about this listing are:  it is a class A professional office building; 5+ offices; 3,157 sf; the rent is $17/sf modified gross;, newly renovated, and has up to 120 parking spaces.

Joe Friedman with Brooks Properties has numerous listings available:

  • 23 Keewaydin Drive in Salem, NH. This is an office space for lease and the space available is anywhere from 2,500-37,582 sq ft.
  • 21 Keewaydin Drive in Salem, NH. This is an office space for lease and the space available is anywhere from 11,333-34,000 sq ft.
  • 19 Keewaydin Drive in Salem, NH. This is an office space for lease and the space available is 4,483 sq ft.
  • 13 Red Roof Lane in Salem, NH. This is an office space for lease and the space available is 1,500-2,146 sq ft.
  • 11 Red Roof Lane in Salem, NH. This is an office space available for lease and the space available is 1,300-4,326 sq ft.
  • 8 Industrial Way in Salem, NH. This is Industrial Space for lease and the space available is 4,290-20,290 sq ft.
  • 4 Northeastern Blvd Salem, NH. This is an office space available for lease and the available space is 17,500 sq ft.
  • 16 Rte 111, Building #4 in Derry, NH. This is an office space available for lease and the space available is 3,125-12,500 sq ft.
  • 16 Rte 111, Building #3 in Derry, NH. This is an office space available for lease and the space available is 2,550-14,550 sq ft.
  • 6 Wentworth Drive in Hudson, NH. This is an Industrial Building for sale valued at $3,900,000. It is 50,000 sq ft with two docks available and ceiling heights ranging from 9ft. / 14 ft.

Matt Lefebvre with Elm Grove Realty has two listings available. The first is a childcare center located in Merrimack, NH and currently has 68 students enrolled. The staff comes with the purchase and is valued at $960,000. His second listing is a 27 unit building in Manchester, NH on Elm Street. It has 4 offices and 23 apartments.

Caitlyn Burke with The Boulos Co. has a listing on 3 Pleasant Street, not for sale but for lease, and currently is occupied with a Bank of America.

David Choate with Colliers has a listing on 17 Production Drive in Dover, NH. This property is 30k sq ft and has manufacturing/warehouse space and about 4,000 sf of offices. It is only available for lease and has 2 docks, and is $7.00 triple net.

 

Note from Petie Cummins: 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, 15 February 2019, 
In the Third Floor Conference Room of Two International Group’s Building at
One New Hampshire Avenue, Portsmouth, New Hampshire, Pease International Tradeport.

Restore My Floor will be the breakfast sponsor.

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