March 20, 2015
New Hampshire Commercial Investment Board of Realtors
Minutes of Seacoast Marketing Session
Heather Rowan of Office Resources and Jonathan deGregoris of Knoll were the breakfast sponsors. Office Resources is a commercial furniture provider headquartered in Boston. Heather works out of the Manchester office. The company provides space planning for companies of all sizes and budgets. Jonathan deGregoris pointed out that companies are shifting their focus from cheap, cheap, cheap to “What do I need to offer to retain my employees?”. 60 years ago, an office worker required 140/sf, in 2017, this will be 100 sf. Quality of work space is an important aspect of an employee’s choice of where to work and Office Resources and Knoll can stretch your funds to make your space gorgeous and attract the best people at the same time.
Ute Luxem is a commercial lender with Profile Bank, a 107 year old community bank out of Rochester. She serves NH and Southern Maine. All decisions are made locally in a very timely fashion.
Bob Marchewka of One Commercial Real Estate pointed out that Portsmouth has a parking space shortage that impacts its attractiveness of being a hub where people love to life and work. A second reading for the building of a new parking garage will be held April 20. A very vocal minority tries to stop the project and had been successful on the first proposal. The business community should be on alert this time and not have it happen again. A defeat of the new parking garage will severely impact the ability to market any space in downtown Portsmouth in the future. David Choate added that the new parking garage is proposed to be located at Deer Street. It will be a 5 story, 600 parking space garage with retail and housing integrated into the project. The building will be nicely fit into the surrounding architecture.
Mark Sullivan of Seacoast Asset Management is helping people invest their assets smartly and getting a good return.
Russ Doyle of Two International Group has no cash buyers.
Andy Ward of Colliers International has a buyer who is looking for a 3,000 sf 3 bay garage and 1,000 sf office space from Dover to North Hampton. He can pay up to $5,000/month.
Sean Fitzgerald of Granite State Development Corporation is working with banks on SBA 504 deals. The latest SBA debenture fixed interest rates at 4.8% for 20 years on up to 40% of project costs.
Dave Garvey of KW Commercial has a buyer for apartment portfolios of 100 units or more. A second buyer is looking for gravel pits with a reserve of 1-5 million cubic yards left within 1 hour of Boston.
Bill Jean of Fulcrum Associates is offering engineering and project management services.
Kyung Kim of Howe, Riley + Howe Certified Accountants recently leased space for a new accounting office in Portsmouth. The company will start to offer its accounting and tax services soon.
Peter Kiriakoutsos (Peter K.) of Howe, Riley + Howe Certified Accountants will be joining Kyung at their new location and is looking forward to doing business in the Seacoast.
Larry Zellers of Portsmouth Computer Copy will make your copy needs a pleasant experience.
Tad Dziemian of Neighborhood Energy will help you lower your energy costs.
Jim Schwartz of Jewett Construction is representing a well-known and established construction company that will address your needs in the most professional fashion. Jewett Construction was established in 1972.
Robert Cruess of TF Moran and MSC Civil Engineering and Land Surveying has a client looking for gas station sites around the State of New Hampshire.
Jerry Bazata of Newburyport Bank writes publications and blogs. He is surveying the group today about recent FED publications.
Vince Chestnut of Alpha Locksmith offered some fun to listen to but very real warnings of what can happen when the wrong person is getting hold of your keys.
Al Silva of Silva Graphics provides signage that makes your business seen and recognized.
Mary Ellen Humphrey of Durham Economic Development announced that the long awaited Request for Proposal for the redevelopment of 66 Main Street is open and available on the UNH web site. The property encompasses 66 Main Street, Hetzel and Alexander Hall, C-lot and the 2 town parking lots on Pettee Brook Lane.
Jen Marsh of Rochester Economic Development announced that Rochester will host its next manufacturers’ only networking event on April 11, 2015. This event is open to all manufacturers in the region and a great opportunity for them to network and find suppliers/customers locally. Please pass on the information to any manufacturer you know.
Ship Bright of Coldwell Banker joined us today. Welcome Ship. Ship is a licensed broker in Maine and NH.
Tina Gagne of SIS is a commercial banker working out of the Portsmouth office.
Butch Ricci of DeStefano Associates works on the Waterstone redevelopment which has rental space available in Seabrook. He designs an IHOP with 2,000 sf and a Marshalls and PetSmart on Route 11 in Rochester. There is a Petco with 20,000 sf going in to Southgate Plaza.
Tom House of THA Architects works on a wide variety of projects including mixed use, development of a Master Plan, and a Seabrook project. Tom provides excellent services and stellar designs.
Susan Scanlon of Commercial Properties Inc. has an investor for up to 15-20 million for strip malls and multifamily investments in NH and Maine.
Art Bonin of A. Bonin Co. has an investor who is looking for apartments in NH, MA and Connecticut up to 2 million.
Laura Farago of Colliers International did not have any cash buyers.
Martha Baroody of CBRE did not have any cash buyers.
Kathy Rush of BHHS Verani Realty did not have any cash buyers.
Dallas Lagerquist with NBT Bank has a customer who needs to enter into a P&S within the next 90 days. The customer is looking for a retail, industrial, warehouse investment within $750,000 and 1 million, preferably between NH Seacoast and Mid-Maine.
Adam Johnston of St. Mary’s Bank, a credit union, visited the Seacoast to offer his commercial lending services.
Suzanne Brunelle of Devine Millimet Attorneys announced that this Manchester headquartered firm is in the process of opening a branch in Portsmouth.
Chris Soutter of Somersworth Economic Development is marketing the Somersworth Police Station. The City is eager to find a dedicated developer and revitalize its downtown.
Nick Aube of Avery Insurance is always happy to attend CIBOR meetings. For your insurance needs – see Nick!
Peter Gluckler of Masiello Group did not have any cash buyers.
Don Marshall of Marshall Associates is a general business broker and provided a brochure outlining 6 steps a business should take when considering selling.
Beth Chea of Wells Fargo is a commercial lender offering her services. Some commercial real estate deals come with a 25 year fixed rate.
Tim Sheedy of Phoenix Title has a client who would like to purchase a restaurant in either Manchester or Portsmouth.
Jeff Hiatt of Granite State Indoor Range and Gun Shop provides cost savings studies and is currently working with the City of Rochester. He is offering a professional development series on cost segregation savings on April 25, 2015. He offers networking events on shooting ranges rather than the golf course which gives the bankers in the room a different clientele to network with.
Nate Dickey of Keller Williams Commercial manages properties from Burlington to Boston.
Dan Barufaldi of Dover Economic Development mentioned that a well-known Dover Company, Certified Retail Solutions, won an SBA award.
The parking garage with 300 additional parking spaces in downtown is well underway.
Bob Viel of Remax Insight did not have any cash buyers.
Anthony Avrutine of Remax Commercial in Laconia has a restaurant for sale.
Scott Knowles of Remax Bayside is new to commercial lending and is currently shadowing Anthony. Welcome to commercial real estate, Scott.
Marie Bodi of CP Management is a dedicated property manager who answers the phone at 10:00 pm at night if a tenant complains their water looks like tea. She solves such problems right on the spot. Any property management needs? See Marie!!!
Jonathan deGregoris of Knoll has experience in shooting range networking.
Heather Rowan of Office Resources offers a variety of fit ups that fit everybody’s budget. She carries a task chair in her car which she will deliver right after the meeting. The company does outfit large corporate offices oversees too. Unfortunately, Heather was not chosen to go to Japan to check out how the product came out.
David Choate of Colliers International does not have any cash buyers.
The statewide NHCIBOR marketing meeting occurs on the 4th Wednesday of the month from 9:00 to 10:15 at 166 South River Road in Bedford. The next meeting will be held March 25, 2015.
There will be a mandatory new member orientation held on March 23, 2015. Talk to Marie Bodi or Allison if you are a new member and not signed up yet.
On March 27 will be a quarterly meeting at SERESC at 29 Commerce Drive in Bedford . Topic will be advanced 1031 transactions. The meeting will be held from 8:00am- 12.30pm.
A professional development series will be held on April 23, 2014 in Portsmouth. Tad Dziemian of Neighborhood Energy will be the sponsor.
Heather Rowan mentioned the 3rd quarterly meeting which will be organized by the Affiliates Committee. She is asking for real estate broker input on what topics would be of interest. Please email Heather of Allison with your suggestions. David mentioned the need for another “Stay out of Jail” course.
There will be an April Business After Hours.
There will be a CIBOR Awards Event on 6/1 at 5:30 PM at Executive Court in Manchester with CDFA, NHDRED and other state economic development organizations attending.
There will be a “Veterans Count Radiothon” on March 25, 2015.
Kathy Rush mentioned the charity golf tournament at UNH on August 10 in memory of her son.
Bob Viel noted that Maine Governor LePage wants to eliminate itemized deductions for real estate and possibly the home mortgage deduction from state income taxes in order to balance the State budget.
David Choate voiced concerns about the NH Republican budget proposal that would slash DOT funds to a level that the department could no longer function adequately. The Dept. of Health and Human Resources is also slated to be slashed in the same way. He encouraged the business community to become engaged and contact their Republican representatives. Don Marshall noted that the CIBOR Political Advisory Committee should take a position.
The Affiliates Committee is looking for after hour hosts. Please contact Heather or Allison if you are interested in hosting such event.
Ute Luxem is a commercial lender with Profile Bank. Ute is happy to finance your project and does not shy away from difficult deals and/or construction projects.
Bob Marchewka of One Commercial Real Estate has the former Café on the Corner in Dover listed for lease. The business is located at 456 Central Avenue; $3,700/month + utilities.
Bob donated 3 tickets to the Globe Trotters to any interested party that has time to go tonight.
Mark Sullivan of Seacoast Asset Management is helping high net worth individuals achieve their investment goals. Successful people with high net worth are usually borne by the right parents, hardworking, active, but always extremely focused.
Russ Doyle of Two International Group has a vacancy in his 2 International Drive building which he would like to fill with the right company(ies).
Andy Ward of Colliers International has Fernald Lumber for sale or lease. It consists of 14 buildings, 7 of which are leased. It is 2.5 miles from Route 4 and close to the Lee Circle. $725,000 sale price and reasonable lease rates.
Sean Fitzgerald of Granite State Development Corporation explained that a project qualifies for SBA 504 if 51% of an existing building is owner occupied. Permitted uses can allow the SBA to finance 40% of a project for 20 years on a fixed interest rate. Banks usually finance the first 50% which requires the business to come up with 10% equity only. The last debenture was 4.8%.
Dave Garvey of KW Commercial has space to lease in Durham in a building located at 9 Madbury Road. He is brokering a 6.4 acre property in Somersworth too.
Bill Jean of Fulcrum Associates is offering professional input on projects early on in the process. The earlier engineering is considered in the planning process the more efficient the developer can work.
Kyung Kim and Peter Kiriakoutsos (Peter K.) of Howe, Riley + Howe Certified Accountants mused they will be working till midnight today because it’s tax season and their fellow accountants are already working overtime to get all tax returns taken care of before 4/15.
Larry Zellers of Portsmouth Computer Copy is offering an efficiency assessment that can save operating costs of up to 30%.
Tad Dziemian of Neighborhood Energy informed us that PSNH is now Eversource. Eversource will sell its power generating facilities. Other power providers that do not generate their own power saw winter rates go up to 15 cents/kilowatt hour. There is concern this can happen to Eversource too. David volunteered that Eversource has a solution to the next power outage – simply add an “N” to the front of the name and the issue is taken care of…
Jim Schwartz of Jewett Construction noted that the company offers metal buildings and has a dedicated steel crew.
Robert Cruess of TF Moran and MSC Civil Engineering and Land Surveying noted that TF Moran received the “Best Engineering Company in NH” award from NH Business Review – AGAIN!!! Congratulations, Robert, to you and your team.
Jerry Bazata of Newburyport Bank continued with his survey. We are looking forward to his blog.
Vince Chestnut of Alpha Locksmith let us know that a savvy thief can make an imprint of your keys right with his hand. Do not trust the valet service!
Al Silva of Silva Graphics will repair and upgrade your sign after this rough and long winter.
Mary Ellen Humphrey of Durham Economic Development has compiled a list of open business spaces for lease/sale in Durham. Please contact her for your searches and let her know of any new listings.
Jen Marsh of Rochester Economic Development announced that Rochester will have 5 major festivals at the Fairground this year. Stay tuned!
Tina Gagne of SIS is a commercial banker working out of the Portsmouth office.
Butch Ricci of DeStefano Associates is heavily involved with the First Street development in Dover.
Tom House of THA Architects reiterated the concerns many voiced about the proposed cuts to the DOT budget and provided a flyer for Ralph Pope’s listing which is a 1,128 sf commercial condo in Stratham Plaza for sale. $110,000 clear or $140,000 including FF&E. The space is currently used as a dog grooming business.
Susan Scanlon of Commercial Properties Inc. looks for places on where to grow medical marijuana in NH.
Art Bonin of A. Bonin Co., has a property in Salem, NH on Route 38; 8 acres, plan for a 30,000 sf facility. Second facility is a Coca Cola bottling plant that has 40,000 sf left; ideal for commercial, industrial and/or retail @ $8-$12/sf.
Laura Farago of Colliers International has an office listing in Exeter at 24 Front St. Top floor space, nice views, 2400 sf available in the Fall.
Martha Baroody of CBRE listed a 10 unit rental property on Summer Street in Dover.
Kathy Rush of Verani Realty has 2 offices for lease.
Unit 1: 500 sf on first floor with additional storage for $500 + utilities
Unit 2: 400sf on second floor for $400 + utilities. Both offices are located on Lafayette Road in Hampton.
Dallas Lagerquist with NBT Bank offers good deals for special buyers.
Adam Johnston of St. Mary’s Bank informed attendees of the bank’s residential home buyers seminar.
Suzanne Brunelle of Devine Millimet Attorneys announced that several of their attorneys will be moving to the Seacoast.
Chris Soutter of Somersworth Economic Development provided a list of properties available in Somersworth.
Nick Aube of Avery Insurance is offering excellent insurance services.
Peter Gluckler of Masiello Group will soon list a great building in Exeter with great parking.
Don Marshall of Marshall Associates is brokering a great Irish Tavern 20 miles west of Portsmouth.
Beth Chea of Wells Fargo announced that her son loves bow ties after getting to know Tony.
Tim Sheedy of Phenix Title has many locations.
Mindy Messmer recommended buyers and lenders start environmental evaluations early in the closing process. There once was that underground storage tank now forgotten in the ground.
Dan Barufaldi of Dover Economic Development mentioned a nice Washington Post Article about the quality of life in NH. He has copies for everybody interested.
Bob Viel of Remax Insight has a new listing right across from McDonalds in Dover. Used to be an eye doctor’s office but would be great for any medical or retail use as it has high visibility. $2,500 sf @ $11/sf.
Anthony Avrutine of Remax Commercial in Laconia has something at 73 Daniel Webster Highway in Belmont. $1,850,000, independent appraisal is available.
Jim Gove of Gove Environmental mentioned new wetland buffers that may deter development of many properties.
Marie Bodi of CP Management is offering excellent property management service for any property owner who wants to sleep at night knowing the tenants are well managed and taken care of.
Jonathan deGregoris of Knoll explains that friendly work spaces are important to keep talented employees. Losing a good employee can be very costly.
Heather Rowan of Office Resources reiterated Jonathan’s findings. Her company has industry studies of what companies need in this field and can adapt those findings to the needs of each individual business customer.
David Choate of Colliers International has the former McIntosh College (the white building between Exits 7 and 8 on Route 16) in Dover listed for $2.5M. It is over 26,000 sf and is also for lease at $7.50 NNN.
Haves and Wants
Ute Luxem offered support for a CIBOR initiative focusing on predictable budgeting in NH and keeping the DOT and other state agencies functioning.
Bob Marchewka of One Commercial Real Estate has 2 manufacturers. One is looking for 7,000 sf and the other for 10,000-12,000 sf in the Seacoast area.
Mark Sullivan of Seacoast Asset Management would like you to forward the attachment for the Veterans to your friends and social network(s).
Andy Ward of Colliers International has a warehouse with 12 ft high ceilings on 63 Epping Street in Raymond. 9,720 sf, 2 docks, $6.50 + utilities.
Dave Garvey of KW Commercial gave kudos to Tina Gagne for a deal he recently did.
Bill Jean of Fulcrum Associates offers many construction programs.
Kyung Kim and Peter Kiriakoutsos (Peter K.) of Howe, Riley + Howe Certified Accountants will be your new home for taxes and accounting services.
Larry Zellers of Portsmouth Computer Copy has an IT division and offers Dell systems.
Tad Dziemian of Neighborhood Energy recommended to lower your energy costs.
Vince Chestnut of Alpha Locksmith recommended pad protected keys.
Ship Bright of Coldwell Banker offers to find you a place in the Caribbean should the weather not improve soon.
Tom House of THA Architects is experienced with health care facilities.
Art Bonin of A. Bonin Co. is involved in a ministry action to help the homeless and wonders how NH can receive such high ratings on the Places to live in scale.
Laura Farago of Colliers International is doing a search for a company in the Portland area that needs about 3500 sf, of which 70% is office and 30% is warehouse.
Adam Johnston of St. Mary’s Bank has a customer in Hooksett looking for something in the $350,000 range.
Suzanne Brunelle of Devine Millimet Attorneys noted the company is a full service law firm.
Chris Soutter of Somersworth Economic Development noted there is a legislative reception Monday morning at Frisbie Memorial Hospital in Rochester and people can still sign up. Talk to your politicians in person.
Don Marshall of Marshall Associates noted that the NH House passed a bill that would make bank referral fees for commercial property deals legal. Anybody with an opinion contact your politicians.
Mindi Messmer offers high quality environmental assessments.
Dan Barufaldi of Dover Economic Development noted that the City posted its Third Street development RFP. The quarterly Economic Development newsletter is now available.
Bob Viel of Remax has a listing at 660 Central Avenue. 660 sf for $159,900 for sale. Property is ADA compliant.
Jim Gove of Gove Environmental informed attendees that there is a 750 ft buffer around vernal pools proposed. 30 days of the 60 day public comment period is over. If you have concerns, make it known in Concord.
Jonathan deGregoris of Knoll and Heather Rowan of Office Resources thanked everybody for coming and volunteered the remaining food.
David Choate of Colliers International has 2 companies looking for 3,000 – 4,000 sf with loading dock in Portsmouth.
Next Meeting is 8:00 – 9:45 am Friday 17 of April, 2015 at
One New Hampshire Avenue, Third Floor Conference Room
The sponsor will be Tad Dziemian of Neighborhood Energy.
Disclaimer: these notes are taken as I understood everybody. For details and clarification, please contact the individual attendee directly.