17 June 2016
NHCIBOR
New Hampshire Commercial Investment Board of Realtors
Minutes of Seacoast Marketing Session.
Bill Stone, John Mercier, Scott Kingsley, James Goodhue, and Dallas Lagerquist with Primary Bank were the breakfast sponsors. James Goodhue and Scott Kingsley are vice presidents and commercial lenders , Dallas is the development diamond, John Mercier is the head of commercial lending, and Bill Stone is Primary’s primary. Primary Bank founders observed a trend of small banks being absorbed by larger banks and detected a lessening of responsiveness to small business needs. Seeking to rectify this situation and offer an option to small businesses of a bank with local management and ownership is the gist of their genesis. Primary operates in New Hampshire and Northern Massachusetts with a Bedford, New Hampshire headquarters. Primary has a commercial lending focus including real estate, businesses, lines of credit, construction, and multi-family. They have had a successful launch over the last 12 months with 421 investors who believe in this picture, a strong leadership team, and pleasant smiles. They hope to expand next to either the Seacoast or Nashua.
Cash Buyers
Tony Fallon with Tony Fallon Architecture says to call him for confidence in cost controlled, code compliant, creative construction, complete with compliments.
Bob Marchewka with One Commercial has a party looking over the next couple of years for 4,000 sf of space for active things like dance for purchase or lease along Route 33 from Greenland to Stratham. They can shift sooner if something crops up.
Peter Billipp with Kane has a medical group looking for a 2,000 to 3,000 sf condo close to Portsmouth Hospital. Something already fit up for medical is better but they will do fit up too.
Russ Doyle with Two International won the trivia contest for who John Mercier’s wife works for. The answer is People’s United Bank.
Arthur Pappas with Keller Williams is looking for a medical office in Massachusetts, New Hampshire, or Maine for 5 million dollars to land and the ugliest shopping center ever in the same three states.
Art Bonin with A R Bonin Companies has a party anxiously looking for a place to place up to 3.5 million dollars in good commercial, retail, office, or industrial down to a 7 cap in New England.
Don Marshall with Marshall Associates had a business owner yesterday awash in tears of joy when he painted the pretty picture of her stage left exit with valuable value and within a 6 to 9 month time period.
Ute Luxem with Profile Bank keeps clients from tearing up in fear with calm, cool, collected closings helping cash customers leverage up their scale.
John Mercier with Primary Bank noted that they can sweetly lend up to 3.5 million and pleasantly partner above that.
Christian Stallkamp with CBRE has a 1031 buyer in the 1 to 1.5 million dollar range looking primarily in Portsmouth, but Kittery would be OK. They are wide open on what type of asset class they would consider. Another party of Christian’s is looking for 50,000 sf of industrial from Seacoast to Epping.
Adam Johnston with Optima Bank lends to 4.5 million prior to partnering in business and real estate.
Vince Chestnut with Alpha Locksmiths clearly can rekey.
Erik Crisman with Brookstone Builders established last month that due to kids he has no cash for being a cash buyer but he can constructively construct in New Hampshire, Northern Massachusetts, and Western Maine.
Robert Cruess with TF Moran/MSC shared the news from their hosting the previous evening of the 20th annual NHCIBOR BBQ that Gerry O’Connell was awarded Realtor of the Year and Tony Fallon was awarded Affiliate of the Year. Good cheer was cheered.
Christine Burke with Burke ER Emergency Restoration keeps it clean after fire, mold, and smoke in Maine, New Hampshire, and Massachusetts.
Tony Donovan with KW Commercial in Portland and Portsmouth has a 300 to 400 thousand dollar buyer within 45 minutes of Haverhill, Massachusetts and leveraging is OK.
Bill Sullivan with KW Commercial in Portland, Maine is looking for multi-family packages from 75 to 500 units up to 12 million dollars from Portsmouth, New Hampshire to Freeport, Maine.
Dallas Lagerquist with Primary Bank lauds leverage and delights in deposits.
Wynne Levine with Daystar outlined their outsource resources for your tech needs.
James Betzer with SVN has 500 dollars looking to land within a half hour or 45 minutes of Portland, Maine for down to a 7 cap. They can move quickly and give an answer in a few days on any type of multi-family, industrial, retail, or office use.
Matt Evans with KBW Financial Staffing & Recruiting recruits accounting and financing people.
Lynne Bagby with Asset Preservation helps numbers line up for 1031s.
Andy Ward with Colliers has someone looking for a recording studio with 25 parking spaces from Hampton to Portsmouth. A quiet setting in an industrial area near a residential zone would be a good pick. 3000 sf is the target and they will lease or buy.
Scott Forte with Berkshire Hathaway Verani Realty is looking for a self storage building or land to build one. 40,000 sf on one floor or two floors within an hour of Portsmouth, New Hampshire is sought.
Doreen Austin with Optima Bank can make anything possible with the amazing creativity at Optima.
Rick Thackston with RH Thackston & Company Realtors is looking from Burlington to Boston for space and 30,000 sf in Keene.
Stu Arnett with Arnett Development Group helps with development and navigating municipalities as well as helping municipalities with outsourced economic development services and sourcing commercial as well as government funding and grants.
James Goodhue with Primary Bank launched into lauding leveraging dittoing Dallas.
Chris Melanson with Harrington & Reeves has a value add hunt for office space in the Portsmouth area in the 1 to 5 million dollar range.
Erin Pike with Saint Germain Collins helps with due diligence in Phase One and beyond for SBA loans and others. Erin is happy to talk about hypotheticals.
Jeff Brown with TD Bank tipped his hat to all the commercial bankers round the round table with whom he enjoys great relationships and partners happily. Their lenders live and work in their markets and TD is a regionally organized large commercial bank offering 30 million dollar lending limits prior to partnering, partner.
Bob Viel with Remax Legacy has a client looking for 2,000 to 3,000 sf of industrial for lease or buy for trucks and equipment to be inside of a building anywhere in Rockingham County.
Marie Bodi with CP Management based in Exeter, New Hampshire manages all property types nicely and timely.
Bill Cormier with Hourihane Cormier has reams of resources for investors in rocking Rochester.
Dave Garvey with KW Commercial is looking for an auto dealership site with Interstate 95 exposure but will also look along Lafayette Road and Route 33 maybe down into Rye. Dave is also hunting the multi-family bird with 5 to 7 caps and 75 to 150 feather units.
Barbara Lizotte with Tobey and Merrill insured us assuredly that insurance is salable from them to you and that the sand sculptures at Hampton Beach sponsored by them are worth a peek.
Amy Sharp with TD Bank in Dover is your dealer of dough.
Danielle Lape with King Real Estate has a 1031 search to place 2 to 5 million dollars into a office retail spot in Maine, New Hampshire, and Massachusetts with no minimum cap to rap.
Maxine Kenny with Colliers has a value add multi-family hunt on for under 2 million dollars circa Portsmouth and is always seeking net lease single tenants throughout New Hampshire.
Scott Kingsley with Primary Bank served the Portsmouth market for 8 years and is happy to be home for holidays, happy days, and work days too. David Choate and Scott hugged.
Bill Stone with Primary Bank sauntered into selling their deposit rates in this period of slim pickings. They do have a step up CD that allows for one bump up in the rate during the life of the CD if the rates go up 25 basis points. Their website is primarybanknh.com.
David Choate with Colliers and his associate Andy Ward are helping the First Church of Christ Scientist find 2,000 to 3,000 sf and they would prefer buying and staying in Portsmouth. They need a large meeting room and zoning should not be a big deal. Their timetable depends upon when a buyer is found for their existing church on Rockland St..
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.
Maxine and David have arranged to for an 18 July CIBOR After Hours at Zampa restaurant in Epping halfway between the Seacoast and Manchester. There will be door prizes with no hinges attached and gift certificates with beer and wine tastings from 5:00 to 9:00 pm. This 72 seat venue is for sale through Colliers and there are plans afoot for an expansion. The land and restaurant is for sale and the fixtures are negotiable at this facility with fabulous food at the corner of 27 and 125 of happy, hopping Epping.
The available sponsor slots for 2017 are January, June, July, and November.
New Hampshire Association of Realtors have a raffle to benefit SPCA and Families in Transition for which Bob Marchewka is selling tickets. There are 250 chances at 50 bucks a pop for one week in Palm Springs with golfing and 500 bucks for spending and another prize is a trip to an island with golfing and 1500 bucks of spending fun.
There is a move by CIBOR’s Public Policy Committee to eliminate agency disclosure for commercial properties so share your comments if you wish (UPDATE – members of the Committee met with the NHREC on 6/21 and a task force of CIBOR and NHREC members is being formed to try and hammer out a compromise proposal as outright elimination is not going anywhere with the current Commission).
Listings
Tony Fallon with Tony Fallon Architecture thanked all for the round of applause with the news of his being the Affiliate of the Year and was humbled with the honoring. Tony does try to be filial affiliate and filial architect. A week previous Tony drove to Philadelphia to help accelerate a design process for some clients for whom he designed a home in Wolfeboro 15 years ago that got splash in Yankee Magazine in October of 2003 and Inc Magazine. The owners bought some land nearby for the next generation accommodation and, when the original builder had an unexpected window in his schedule, wanted to catch the chance.
Bob Marchewka with One Commercial has two buildings available, one listed and one off-market. The listing is 8,800 sf of office space that would be a great 1031 going for 1.9 million and would be good for a user too. The off-market listing is 6,000 sf of single story wide open office that could be a recording studio.
Peter Billipp with Kane has a new listing in Dover entailing 80,000 sf of industrial space near UPS off of Route 16’s Exit 8W that includes rail access for 3.9 million dollars. There are not many large industrial offerings so get yourself on over.
Russ Doyle with Two International Group had new news with his announcing plans to construct 85 New Hampshire Avenue at Pease between 75 and 111 New Hampshire Avenue where Newmarket Software and Seacoast Media are located. This new 30,000 sf building is going to be similar to 25 New Hampshire Avenue and will go for 15 dollars psf NNN. It could work as a single user, corporate headquarters, or multi-tenant which is Two International Group’s bread and butter. 2017 occupancy is planned.
Arthur Pappas with Keller Williams has an off-market 24 unit apartment building for 3.8 million dollars that has had 100% occupancy for last 5 years in Biddeford, Maine going for a 6 cap. Also Arthur has a new 55 and over project to be built with 16 homes in Wells, Maine within walking distance of the beach. The project is for sale at 890 thousand dollars. In Rochester at Exit 14 off of Route 16, Arthur has lots that can be combined for up to 6 acres across from the NHDOT Park and Ride for 180 thousand dollars each.
Art Bonin with AR Bonin Companies has the former Pond View Restaurant in Kingston with a cascading price down 150 thousand dollars. This 10,000 sf restaurant on the water was purchased a couple of years ago but the owner ran out of dough. Also, Art has 3 parcels that are contiguous and could be sold individually or as one. Currently there is a car dealer, an Enterprise car rental dealership, and vacant land. The 2.1 acres with Enterprise franchise is going for 875 thousand dollars with the 8,000 sf building. The dealership on 2.5 acres is going for 1.5 million and the one acre lot is right across from Market Basket.
Don Marshall with Marshall Associates thanked David Choate.
Ute Luxem with Profile Bank lends lots of chips in New Hampshire and Maine.
John Mercier with Primary Bank is happy that they have no bank owned properties to liquidate.
Christian Stallkamp with CBRE is working with Russ Doyle on 25 New Hampshire Avenue at Pease. Come on over and have a look for this dandy offering for sale or lease which works well for medical. David Choate asked if there was any publicly available news on the former Franklin Pierce College building that Christian sold and the answer is still a firm “no”!
Adam Johnston with Optima Bank has a unique product custom constructed for residential builders. They have lots of portfolios and are happy to handle construction loans for the consumer who can then line up a mortgage to take the baton after construction is wrapped up. They are not shy to take on quirky things including houses in velocity zones up on stilts.
Jeff Lessard with NAI Norwood in Bedford has 13,000 sf of industrial flex space which has some floor drainage so maybe a combination brewery and day care would work well.
Vince Chestnut with Alpha Locksmiths can get you a superior product that stands up to lots of abuse for the same price you get after spending an hour lost in a big box store.
Erik Crisman with Brookstone Builders can be a valuable resource for tenant fit-ups and creating space for which to fit-up. Happy to help with restoration and demolition too.
Robert Cruess with TF Moran/MSC is the Business New Hampshire Engineering Firm of the year. Robert is pleased to win.
Christine Burke with Burke ER Restoration helps with restoration and recovery from mold in all its various colors. They can also help with sand blasting and soda blasting.
Tony Donovan with KW Commercial has 10 single family homes owned as a package that can be individually sold for 1.5 million or as a package for 1.25 million. They are nice homes north and south of Portland and are all rented. Most of them are nice and some could be bettered.
Bill Sullivan with KW Commercial has a 100% leased out offering with a mattress seller, Dunkin’ Donuts, Firehouse Subs, and sports store on Route 111 across from Market Basket going for 7.2 million dollars.
Dallas Lagerquist with Primary Bank shined with news of their having all the high tech banking gadgetry and portals to please depositors and borrowers.
Laura Farago with Colliers has two office units for lease at 1 Merrill Industrial Drive in Hampton, New Hampshire. The first floor unit is 1500 sf and the second floor is 1300 sf. There are 5 offices in one of them currently and ample parking along with storage units in the attic.
Wynne Levine with Daystar helps all companies and lots of new companies with managing their tech needs of secure information and cyber shielding with remote workers.
James Betzer with SVN has a new flyer with offices and retail on Route One and a restaurant space covering 4,600 sf.
Matt Evens with KBW Financial Staffing & Recruiting helps lots of clients find skilled talent.
Lynn Bagby with Asset Preservation talked of 1031 nuances of how long owners need to hold the holdings before the transaction and keeping the IRS happy.
Andy Ward with Colliers has two units above The Music Hall’s Loft at 10 Vaughan Mall that are going for $14.50 psf modified gross that are ADA accessible with an elevator and parking for 3 hours in the municipal open air lot adjacent.
Doreen Austin with Optima Bank lends into Maine and down to the North Shore with SBA 504 and other deals of lending sure to delight.
Rick Thackston with RH Thackston & Company Realtors is willing to help you find offerings to buy and offer things as offerings.
Stu Arnett with Arnett Development Group helps with Northeast economic development for municipalities on a contract basis throughout the 10 Northeast states. Stu is soliciting sponsorship for a gathering this Autumn.
James Goodhue with Primary Bank lends to all assets including hospitality, industrial, retail, and residential development. James has some things on the Seacoast up to Tilton, one in Massachusetts, and one in Maine.
Chris Melanson with Harrington & Reeves has a high bay on Route 101 in Raymond going up this Autumn and is looking for tenants or a buyer.
Erin Pike with Saint Germain Collins shared the story of a transaction where the buyer discovered that a Level One ESA report had omitted one of three buildings on a site. They quickly went in and reviewed the building that was missing from the original report.
Jeff Brown with TD Bank is jazzed about his daughter performing at the Garrison Players in Rollinsford.
Bob Viel with Remax Legacy has 15 Jackson in Farmington that entails 4 acres and is a container storage business with a 2,600 sf building. Also, Bob has 860 Central Avenue in Dover for $284,900 that entails two individual buildings that could become a 4 story 28,000 sf building with permitted plans ready for the excavator. This is a great location, high visibility, and directly across from Panera Bread.
Bill Cormier with Hourihane Cormier has 6,000 sf of light industrial for 4 dollars psf at the Gerrity Industrial Park that is good, clean space with no office as part of it as yet. Move right in next month.
Dave Garvey with KW Commercial has a gas station in North Berwick for 399 thousand dollars across from Pratt & Whitney. Also, Dave has 1,600 sf on the 4th floor of 9 Madbury Road in Durham, New Hampshire for 12 dollars psf.
Barbara Lizotte with Tobey and Merrill helped an aviation company get insurance in Auburn thanks to Tony Fallon’s Minutes. The owner was rooting around on line to buy and Barbara’s name and story in the Minutes popped up. Tony is happy to help and seeks only referrals for thanks.
Amy Sharp with TD Bank has low 3%, 25 year ARMs that are non-recourse for your course.
Danielle Lape with King Real Estate has 50,000 sf with two buildings at a major road in Portland, Maine with some limited visibility to I-295. They will probably lease quickly and have loading docks as well as overhead doors for 8 dollars NNN and low nets.
Maxine Kenny with Colliers has two office listings, one first floor covering 2,500 sf on the Route One Bypass, and the other 4,100 sf that is a second floor listing on Islington Street with a glass conference room. They are both gorgeous and available now.
Scott Kingsley with Primary Bank has 25 years of experience with C & I, Commercial Real Estate, and SBA 504 lending Scott knows lots of you and looks forward to meeting more as well as meeting the start-ups. Primary works as a group to give you a boutique experience to gain the financing needed enjoyably. They will let you know right away if it won’t be a fit and love working with other banks as well.
Bill Stone with Primary Bank shared that they are fast, flexible, and creative with remarkable non-recourse routes.
David Choate with Colliers was pumped about their awesome offering of the former Cabletron headquarters in Rochester, New Hampshire at 36 Industrial Way. This 63,000 sf sparkler on 9.58 acres with a 2nd building possible on the surplus land is going for 3.1 million dollars which is under 50 dollars psf. The building is about 45% occupied so it would make a great buy for an owner/occupant. David made Bill Cormier proud with how jazzed he was about Rochester and how it is the place to plunk your dough into assets now as the Safran/Albany International carbon fiber aircraft part juggernaut ramps up. Rochester is going to explode bountifully beautifully.
Haves and Wants
Tony Fallon with Tony Fallon Architecture delightfully designs designs. Tony is working on a Northwood Brewery at Johnson’s in Northwood, the White Horse Addiction Center in Ossipee, and a new mixed use residential/office/retail with Packy Campbell in Dover.
Bob Marchewka with One Commercial has 750 sf in Dover for retail/office that is high visibility at 456 Central Avenue at a stop sign for cheap money honey.
Peter Billipp with Kane has 7 acres at Granite State Business Park where Safran and Albany International are with a 40,000 sf approved building plan shovel ready if you shovel over 399 thousand smackers.
Arthur Pappas with Keller Williams has 3 acres at Seacoast Life Care.
Art Bonin with AR Bonin Companies has 4 acres of self-storage with a franchise on Route 111 for 450 thousand dollars. They had a couple of false starts with a business broker. This business actually has a property management business with a real estate license and a 150 thousand dollar a year cash flow going for 630 thousand dollars along with a 3 family property and a first floor office.
Christian Stallkamp with CBRE has an updated listing. Also, he is on the board of the Coastal Conversation Association that supports Big Brothers Big Sisters in an annual fishing event. Next year they are going to sell some sponsorship spots.
Jeff Lessard with NAI Norwood has 10,000 sf of industrial in Hudson for 5 dollars psf gross.
Vince Chestnut with Alpha Locksmith reminded us that ADA requires levers on doors in commercial construction.
Robert Cruess with TF Moran/MSC is busy like it was in 1988.
Christine Burke with Burke ER Restoration has professional staff with no tattoos or piercings present and everybody speaks English.
Tony Donovan with KW Commercial has a 1192 sf retail shop on 24 Congress Street in Portsmouth going for 5,700 dollars per month or a $54.38 modified gross.
Laura Farago with Colliers merchandised Merchants Plaza in Rochester with plenty of tinsel, jingles, and shining lights. At this intersection of Old Dover Road and Route 125, TD Bank owns a parcel and most things are tenanted. The uses are office, residential, and retail with 1200 feet of frontage, lots of exposure, and a low, low, low price of 1.25 million dollars.
Wynne Levine with Daystar has helped Hannaford Brothers.
Andy Ward with Colliers thanked Lynn Bagby and Mindy Messmer for helping on a couple of deals. Andy and David have an end unit at 170 West Road in Portsmouth that is 9,802 sf and can go down to 3,195 sf for 6 dollars psf NNN. The ceiling heights are from 16 to 19 feet with one loading dock.
Scott Forte with Berkshire Hathaway Verani Realty is working on two self-storage deals this year and four next year.
Rick Thackston with RH Thackston & Company Realtors has 30 acres of commercial land for subdivision in Troy, New Hampshire.
Stu Arnett with Arnett Development Group helps planners and developers interface with land use regulations and financial resources.
Bob Viel with Remax Legacy has a leased property at 903 Central Avenue that is 2,300 sf going for $10.50 psf NNN.
Marie Bodi with CP Management shared that the 100 Club is donating 1000 dollars for each new membership purchased to the Big Brothers and Big Sisters organization. Marie thanked Vince Chestnut and Barbara Lizotte for helping out on a couple of things nicely.
Bill Cormier with Hourihane and Cormier did the Rochester Rocks flash mob dance solo in gratitude from the bump from David Choate.
Dave Garvey with KW Commercial has a Moe’s Sub Shop with good numbers.
Barbara Lizotte with Tobey & Merrill says affiliate membership in NHCIBOR is assuredly worthwhile sales insurance.
Danielle Lape with King Real Estate has 6,500 sf on the second floor of 125 Brewery Lane in Portsmouth for 16 dollars psf NNN and 3,000 sf of flex space at 210 West for $6.50 psf NNN.
Maxine Kenny with Colliers reminded us of the 1,200 sf on the first floor at Hanover Street in Portwalk going for $32.50 psf NNN (the former NBT branch).
Scott Kingsley with Primary Bank serves up experience, expertise, and professional, delicate dedication.
Bill Stone with Primary Bank thanked all for all.
David Choate with Colliers has 2,500 sf of warehouse with two drive in doors at Crosby Road in Dover for 2,500 dollars per month plus utilities. The current tenant will be out on July 15.
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, as always, 8:00 – 9:45 am on the third Friday of each of all 12 months.
15 July 2016
In the Third Floor Conference Room of Two International Group’s Building at
One New Hampshire Avenue, Portsmouth, New Hampshire, Pease International Tradeport.
Colliers International and Tony Fallon Architecture will be the sponsors.