21 July 2017
NHCIBOR, New Hampshire Commercial Investment Board of Realtors
Minutes of Seacoast Marketing Session which occurs every third Wednesday of every month.
Location: 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!
Barbara Lizotte & Dean Merrill of Tobey & Merrill Insurance were the breakfast sponsors. Dean let us know that their family business is becoming 4th generation with his daughter joining in. This 97 year old local business is delighted to be at the Seacoast Marketing Session and introduced one of their clients, Media Wing. Lindsey Mitchell with Media Wing is a pilot and used to be a captain for a plane service at Pease. Lindsey now coordinates the safety and compliance portion of the Media Wing drone business as well as flies drones. Their drones can collect all types of data far beyond photography and video. Media Wing is able to do 3D digital mapping of sites and buildings including getting the lay of the land beneath fully leafed tree canopies. This can help with surveying, engineering, and construction. They can help with data processing as well as video production, company overviews, and advertising campaigns or just pass on the raw data.
Cash Buyers
Tony Fallon with Tony Fallon Architecture swam in the sea for 20 minutes this morning in honor of the meeting name and shared a number of people sighting a whale from the beach recently.
Bob Marchewka with One Commercial is looking for 5,000 to 20,000 sf of space in the Greater Portsmouth area for an engineering firm that uses automation. It is an industrial kind of use but sort of office.
Chris Mark with Restore My Floor in Dover offers full service floor restoration from epoxy industrial to mobile homes.
Mark Sullivan with Seacoast Asset Management helps build portfolios.
John Kageleiry with Verium Asset Management is an investment and financial planner guidance guy from Dover. Chad is his brother.
Don Marshall with Marshall Associates is a general business broker who has an auto salvage for sale in the Upper Valley for 650K.
David DiPerri with Empire Business Sales is a broker for buying and selling small businesses in the 1/2 million to 8 million dollars of annual sales window. David has a buyer looking for a metal fabrication business in Southern New Hampshire with 8 to 15 people.
Matt Bacon with NAI Norwood has a buyer looking for mixed use multi-family and retail or office in the Manchester, Londonderry, and Bedford areas. The sought price range is under 1.2 million.
Adam Johnston with Optima Bank is happy to help with real estate and tenant improvement financing.
Jay Lee with NAI Norwood attended the ICSC in Boston and says that New Hampshire and Maine are targets for retail owner buys since the Massachusetts market is now over saturated.
Ben Brown with Fulcrum Associates says their typical projects are from 1 to 40 m and that they do both tenant improvement and ground up.
Kaylee Gendron with Office Interiors in Dover on Washington Street is a contract furnishings and design firm.
Tony Donovan with KW Commercial serves Maine and New Hampshire. Portland is crazy busy with 6 cranes and hotels going up everywhere. Tony has cash buyers that are looking for retail in a stand alone plaza in Southern New Hampshire or Maine. They are patient and looking in the 3 to 10 m price range.
Frank Carr with No Hype Consulting is a real estate developer. He recently repositioned a church with 25 market rate apartments and does a lot of work with Class A office space and multi-families.
Robert Cruess with TF Moran was also at ICSC noted that the event gets smaller every year and heard some concern of construction costs increasing during the course of a project.
Paul Botting with Pro Source Signs was invited by Matt Bacon and assists with interior and exterior signs. The former Granite Rose Function Facility is one of his clients.
Jeff Brown with TD Bank says TD is predicting four 1/4 % bumps up for a total of 1% by the end of 2018.
Chris Melanson with Harrington & Reeves serves Manchester and all of New Hampshire.
Jeff Boufford with Boyd & Boufford Insurance assists with commercial real estate, self- storage, Class A office, and warehouse insurance.
Hal Kreider with Northwood Economic Development is working to get the first 150 acres of their recently voted on 300 acre TIF online.
Mary Ellen Humphreys with Durham Economic Development says the redevelopment packets for 66 Main Street are back on the street with proposals due in early September.
Ute Luxem with Profile Bank let us know they are a commercial bank and that she pretty much agrees with Jeff but thinks it will be a slower drift up. The market is very liquid!
Chris Burns with Minuteman Security says they are a family business that works throughout New England and go into New York.
Peter Hoekstra with Peniel Environmental offers 24/7 restoration services in Maine, New Hampshire, Vermont, and Massachusetts.
Chelsea Rogers with Creative Office Pavilion helps with contract furnishings and interior design serving all of New Hampshire and New England.
Vince Chestnut with Alpha Locksmiths talked up taking your locksmith out to lunch.
Brian Moore with Daystar helps with networks from Newington.
Scott Forte with Berkshire Hathaway Verani serves Maine, New Hampshire, and Massachusetts. Scott has a cash buyer for 10,000 sf of space in Lawrence that has a 1st floor loading dock, and drive in with 3 phase power.
Jim Hayes with Northway Bank in Portsmouth in the KW building let us know they have 17 branches in New Hampshire with most being in the North.
Erik Crisman with Brookstone Builders let us know they are a GC, CM, and Design Build firm. Erik has a cash buyer of multi-family residential from Ogunquit to Hampton.
Mike O’Reilly with Bangor Savings says their 3.7 billion dollar bank is in Portsmouth now writing commercial loans.
Chris Perry with Bangor Savings covers from Portland to Portsmouth.
Laura Farago with Colliers has a dentist looking to buy 2,500 sf in Dover at a high traffic count site. They may lease to buy with last choice being a straight lease.
Dick Fay with Source One Energy Consulting provides utility coordination services and manages utility interactions.
Hank Beresin with First Street Brokers brokers the buying and selling of businesses.
Eric Beauregard with Bangor Savings joined us for the first time since switching banks.
Mike Whitman with Bangor Savings focuses on relationships based on a 4 billion dollar barrel of assets with 30 million dollar in house lending capability.
Chara Gannett with Building Envelope Specialists in South Portland provides full service building envelope analysis for existing or new buildings across New England.
Fred Attalla with Weichert Points East has a developer of Walmarts and Rite Aids looking to do something different in the seacoast area of New Hampshire, Maine, and Massachusetts. Maybe something that is industrial with a long lease or office that are newer products might be good. Also, someone looking for a partner could work.
Aaron Bennett with Criterium Engineering provides civil and structural engineering along with building assessments. Arthur Pappas suggested Aaron loop in to help boost his business launched in September.
Al Silva with Silva Graphics of Stratham provides design, fabrication, and delivery of signs.
Scott Kingsley with Primary Bank in Bedford, New Hampshire is lending in Southern Maine, Northern Massachusetts and all of New Hampshire.
Andre Tremblay with Franklin Savings Bank is lending in Southern New Hampshire primarily while doing a lot throughout and some beyond New England. 20 to 25 year fully amortized simple loans are found with Andre.
Bob Viel with Bean Group is a broker in Maine and New Hampshire. Bob has an investor looking for an 8 cap that would prefer office properties in the Manchester, Concord, and Seacoast areas or Portland to Portsmouth for around 500K.
Dan Barufaldi with DBIDA has the finalized development plans for the Dover Waterfront that has the park and docks going in. Dan thanked Media Wing for doing a great job on their self promotional piece that wound up highlighting some of Dover.
Anthony Avrutine with Remax Bayside has 800 thousand to 1 million dollars to place in a 1031 in October.
Bill Cormier with Hourihane & Cormier has great listings.
Wendy Rayno with Bank of New Hampshire has 24 offices and a 19 million dollar in house lending limit. Wendy has been in the banking business in this area for 20 years.
Marie Bodi with CP Project Management manages the building we meet in and Sundial in Manchester. Marie reached out to the bankers to nudge their borrowers to consider a property manager versus self-management.
Barbara Lizotte with Tobey & Merrill Insurance says life is short and let her help you be ready for hoops and hurdles.
Dean Merrill with Tobey & Merrill Insurance noted that their one office with 10 people has low turnover. Most people have been there for 15 to 35 years and so they can handle just about anything that comes across their desk. Dean says it is amazing what a drone can do.
Lindsey Mitchell with Media Wing takes pride in their safety protocol and record. Tobey and Merrill insures them. Media Wing sets themselves apart with how proactively they comply with the rules and safety guidelines of the FAA. That she is a pilot helps.
David Choate with Colliers has a buyer looking for 1,500 to 2,000 sf with character and would prefer Portsmouth. 20 Ladd St. (the former Media Wing offices) didn’t quite work.
Announcements
The Statewide NHCIBOR meeting is the fourth Wednesday of the month at the Keller Williams training room at 168 South River Road in Bedford from 9:00 to 10:15 am.
There is a NHCIBOR orientation run by Marie Bodi on 25 September 2017 from 1:00 to 3:00 pm at NHAR in Concord.
The next quarterly meeting will be in Portsmouth at the Courtyard by Marriott on 29 September 2017 and will discuss growing your business. Sponsors are sought for this event.
2018 is now open for breakfast sponsorships. Contact David Choate if you wish to sponsor in 2018 in January, July, or December (editor’s note: only December is now available).
Jeff Boufford and Matt Bacon recruited those non-members to remember to become members.
Andre Tremblay is seeking interesting articles you have written to be part of the newsletter.
There is an October after hours event in the offing. Sponsors and locations are sought and Heather Rowan will assist coordinating the fun. For short money get your biz a sparkling splash.
Listings
Tony Fallon with Tony Fallon Architecture optimizes composure, construction, costs, codes, and clarity. Tony has a potential client with signed contracts to provide therapy pool services once she builds her therapy pool buildings. The bankers all love her business plan and long experience in the field. Earnest money is the next piece of the puzzle. Investors seeking solid, interesting deals, should give Tony a call about Healthy Splash, LLC.
Bob Marchewka with One Commercial has a 6,000 sf single story available at 1950 Lafayette Road. This shares a lot with another building Bob sold 8 months ago. There is a 1,200 sf mezzanine and the price is 1.25 m.
Chris Mark with Restore My Floor says to take care of the first impression you offer to your prospective buyers.
Mark Sullivan with Seacoast Asset Management is celebrating 35 years in the business and 11 years of his independent business as of July 4th of this year.
John Kageleiry with Verium Asset Management uses a flat fee that he finds is more effective and focuses on planning first.
Don Marshall with Marshall Associates uses a variable fee that he justifies with high quality of service. Don has a 6 employee 5,000 sf auto repair in Derry grossing 1 m and earning 195K.
David DiPerri with Empire Business Sales is a broker for buying and selling small businesses and was invited by Matt Bacon.
Matt Bacon with NAI Norwood has 88 acres that could be a senior development or industrial. Matt also has two small buildings on Currier Road in Candia, and a 20 to 25 lot subdivision in Concord.
Adam Johnston with Optima Bank serves up great service.
Jay Lee with NAI Norwood has 100,000 sf of retail at 185 Elm Street in Milford that is going to be aggressively marketed. Tractor Supply has gone into this former IGA space along with a couple others, so there is 50,000 sf left for you. The owner is willing to spend up to a million dollars to help spruce things up.
Ben Brown with Fulcrum Associates says they help best early on with medical to education to multi-family residential assisting design teams and helping navigate approvals.
Kaylee Gendron with Office Interiors is helping with branches at Optima Bank in Dover and Federal Savings in Barrington.
Tony Donovan with KW Commercial has 4,000 sf at the historic custom house in Downtown Portsmouth that is all built out and is going for 15 dollars psf NNN. It has an elevator and a few parking spaces.
Frank Carr with No Hype Consulting has a multi-family with 20 units coming online by 2018 and is looking for joint venture partners.
Robert Cruess with TF Moran has 70 people between their Bedford and Portsmouth offices. They have 2,800 sf available in Bedford at a plaza where Walgreens and the Inside Scoop would be your neighbors. A florist is retiring.
Paul Botting with Pro Source Signs recently provided an entrance sign in Londonderry.
Jeff Brown with TD Bank sits on some boards and one cool one is the New Hampshire High Tech Council. If you know of a company that has a cool product or service distributed in New Hampshire and would like a chance at some cash and publicity from gaining a prize, look them up and apply by the August and September deadlines.
Chris Melanson with Harrington & Reeves is working on some brand new ground up high bay space in Raymond that will have up to 600,000 square feet and with no lead feet, one can get from exit 4 on 101 to I-95 in 16 minutes and 27 seconds.
Jeff Boufford with Boyd & Boufford Insurance assists with the lower volume specialty insurance like errors and omissions.
Hal Kreider with Northwood Economic Development pointed out that they are halfway between Portsmouth and Concord and are delighted to have Johnson’s Steak and Seafood doing the major addition that will bring The Northwoods Brewery to life. Hal thanked Tony Fallon for designing the asset.
Mary Ellen Humphreys with Durham Economic Development is happy that Hops and Grind at Madbury Commons is almost up and running. Mary Ellen is looking forward to the grand opening and block party.
Ute Luxem with Profile Bank talked up Somersworth as a land rich place to land. There is a bunch of land available behind Home Depot and Target that has municipal water and sewer.
Chris Burns with Minuteman Security assists with access control, alarms, cameras, and enterprise security systems around New England and New York.
Peter Hoekstra with Peniel Environmental likes meeting facilities managers.
Chelsea Rogers with Creative Office Pavilion helps commercial brokers provide visioning for space usage.
Matt Lefebvre with Elm Grove Realty has a buyer looking for mixed use and warehouse in the Amherst, Nashua, and Milford areas on 101 or 101-A under 1 million dollars.
Brian Moore with Daystar is helping with IT for growing or moving companies within 1.5 hours of Portsmouth.
Scott Forte with Berkshire Hathaway Verani serves Maine, New Hampshire, and Massachusetts. Scott has a 1,800 sf stand alone on Route 1 in North Hampton that could be an office or retail.
Jim Hayes with Northway Bank lives in Strafford and serves the Seacoast at Northway.
Erik Crisman with Brookstone Builders let us know they have a new website, brookstone.com, to check out.
Mike O’Reilly with Bangor Savings serves Portsmouth from their deep Maine roots.
Chris Perry with Bangor Savings covers from Portland to Portsmouth for this mutual bank that can do 30 million dollar in house loans and is the Southern Maine 1st place SBA lender.
Laura Farago with Colliers has a 3 bay car repair shop on Route 155 in Madbury at 309 Knox Marsh Road with very high traffic count, college traffic, two lifts, and 2,400 sf for $2,200 per month plus utilities.
Hank Beresin with First Street Brokers reminded us of the lovely award winning Plum Island restaurant with amazing views that generates from 1.4 to 1.8 million annually. The combined price of real estate and business has recently shifted from 2.2 to 1.95 million dollars. The operators may consider a sale/leaseback.
Dick Fay with Source One Energy Consulting provides software and a service platform for managing energy and maximum recovery.
Mike Whitman with Bangor Savings likes their LPO on Maplewood Ave. and is on the hunt for a retail spot on Market Square.
Chara Gannett with Building Envelope Specialists in South Portland worked on the Portland Customs House historic restoration. They have also worked on other historic properties including hospitals and apartments.
Fred Attalla with Weichert Points East has Carmen’s Restaurant for sale at 299K for land, building, equipment, and business. The value is 500K so this will go quickly. Fred has a Portsmouth waterfront business for sale coming up that is a restaurant. Fred did recently close on a 10 unit brownstone on Middle Street for 1.53 million dollars. It was designed by Gridley J.F. Bryant, the most commissioned architect in the history of Boston. At the height of his career he was juggling the most business in New England and this double house was constructed right in his prime in 1866 when Bryant was 50 years old. His client was William Flagg Parrot whose father was a US congressman and senator. Bryant delivered an exemplary French Second Empire brick confection with Brownstone trim and slate mansard roof.
Aaron Bennett with Criterium Engineering provides cost segregation studies and helps condo associations with reserve funds.
Al Silva with Silva Graphics makes sweet signs.
Scott Kingsley with Primary Bank in Bedford, New Hampshire is lending in Southern Maine, Northern Massachusetts and all of New Hampshire. Scott finds ways to get deals together.
Andre Tremblay with Franklin Savings Bank has 4 clients looking for larger apartment buildings. The inner city 6 families are not being pursued but rather something more on the outside of town in the 50 to 150 unit range in Southern New Hampshire. No new construction is being pursued and some of them will look at other areas and even larger blocks of units.
Bob Viel with Bean Group is a broker in Maine and New Hampshire. Bob has a 46 lot subdivision in Danville on 112 acres for 950K. Bob also brings you the Weeks Restaurant business only on Lower Square in Dover for 60K. The 500K annual gross nets 98K take home.
Dan Barufaldi with DBIDA shared his City Manager’s Report.
Anthony Avrutine with Remax Bayside has the best location in New Hampshire with 498 feet of frontage at the intersection of two state highways with owner financing and a great building for 800K.
Bill Cormier with Hourihane & Cormier has 899 feet of frontage for 36.5 acres going for just 150K with no zoning and a great traffic count in Lebanon, Maine on US-202.
Wendy Rayno with Bank of New Hampshire shared Bank of New Hampshire’s sharing 1 million dollars with local non-profits.
Marie Bodi with CP Project Management told of the wonders of networking. Last weekend Tony Donovan had invited Marie up to see the Porsche Rally in Portland and peek at the movie star drivers. After this fun event, Marie came upon a wallet and using her investigative skills went on Facebook and found that the wallet owner and she had a similar interest in the CAVA Restaurant in Portsmouth. Marie then called CAVA and talked with John Akar who allowed that indeed he knew Justine Marie Fallon and her father. Tony Fallon then received a call from his client for whom he had designed a restaurant and the building it is in and realized that he knew “Mrs. Bodi.” When his daughter met Marie to receive the wallet, Marie learned Justine was Tony Fallon’s daughter. Thank you networking, Saint Anthony, and Marie for helping Justine Marie!
Barbara Lizotte with Tobey & Merrill Insurance thanked White Apron Catering for a great breakfast spread and awarded Mark Sullivan a gift certificate for knowing that Tom Brady was drafted in 2000 and played his first game in 2001
Lindsey Mitchell with Media Wing takes pride in their safety protocol and record. Tobey and Merrill insures them. Media Wing sets themselves apart with how proactively they comply with the rules and safety guidelines of the FAA. That she is a pilot help
David Choate with Colliers has 106 Crosby Road where there is 2,664 sf of warehouse and office with 2,300 of it high bay and a drive in door. There is plenty of power and nothing like this on the Seacoast. It is yours for 2,500 dollars per month plus utilities. Also, David has the former prom store at Bowl-A-Rama, 599 Lafayette Road, that has been reduced from 16.50 psf to 15.75. This is a great place for retail and service businesses with Tuscan Kitchen nearby.
Haves and Wants
Matt Bacon with NAI Norwood has 60 units of self storage in Weare that could go to 134 units available for 435K. There could be some owner financing for the right buyer.
Tony Donovan with KW Commercial has two subdivisions in York County in the Waterboro, Maine area. One has 15 lots and the other has 20 and both are in the 500K plus range.
Frank Carr with No Hype Consulting has another church that he will be working on for multi-family or restaurant.
Mary Ellen Humphreys with Durham Economic Development has the recently vacated Pro Yo available.
Scott Forte with Berkshire Hathaway Verani is looking for a 1,200 to 1,800 sf spot in Durham for a Gyro Restaurant for something like 2K per month.
Fred Attalla with Weichert Points East has the former Hutchins Candy at 895 Lafayette Road that includes an apartment for 695K or reasonable offer. Maybe more apartments could be created
Anthony Avrutine with Remax Bayside has 711 Weirs Boulevard with views of Lake Winnipesaukee and 26 acres for 965K. This is the last large parcel on Weirs Boulevard.
Marie Bodi with CP Management is reviewing snow removal proposals for their 500 properties from the ocean to the lakes in the heat of the Summer.
David Choate with Colliers has the corner of Blackwater Road and Route 108 in Somersworth for lease (a sale would be considered by his client) near Cumberland Farms that entails 1.86 acres and could probably hold 14,000 sf of retail with 16,000 cars streaming by each day. Maybe a bank and a couple of restaurants might like?
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, 18 August 2017
In the Third Floor Conference Room of Two International Group’s Building at
One New Hampshire Avenue, Portsmouth, New Hampshire, Pease International Tradeport.
Franklin Savings Bank will be the breakfast sponsor.