16 October 2015
NHCIBOR
New Hampshire Commercial Investment Board of Realtors
Minutes of Seacoast Marketing Session
Marie Bodi with CPManagement was the breakfast sponsor and Take Away Catering from Kittery, Maine was the meal maker. CP Management is based in Exeter, New Hampshire and they handle all of Two International Group’s holdings at Pease and downtown. And of course they have many other properties across Maine, New Hampshire, Massachusetts, and Rhode Island. Marie welcomed new NHCIBOR members Stacey Abel with Kane, Greg Schena with Masiello Commercial, and Nicole Canavan with Century 21 North Shore.
Cash Buyers
Tony Fallon with Tony Fallon Architecture can assist with commercial and residential Architecture in Maine, Massachusetts, and New Hampshire. Tony can help with the cranial to the emotional, from codes to cinema walk throughs.
Bob Marchewka with One Commercial has a construction company looking for 1,000 to 2,000 sf of office with a garage for two trucks in Portsmouth to buy or lease within the next 6 to 9 months.
Tadd Dziemian with Neighborhood Energy from East Hampstead, New Hampshire outperforms the utilities.
Don Marshall with Marshall Associates serves all of New Hampshire helping businesses looking for the exit and entrance ramps confidentially with confidence.
Travis Ramsey with Creative Imaging Group joined us for the first time. With regards to the hockey tracker ticker, Travis shared after the meeting that he played varsity for University of Maine and recently retired from the pros. Travis can professionally help you score with marketing, advertising, direct mail, letterhead, business cards, and in all manner close the loop between marketing and print.
Christian Stallkamp with CBRE has a hunt on for a 10,000 to 20,000 sf industrial building in the Seacoast as well as a small 4 unit multi-family in Kittery, Maine.
James Goodhue with Primary Bank joined us for the first time. Just hatched 80 days ago, they are a new bank but with a staff that is seasoned as well as ready and willing to put some money on the street from Northern Massachusetts to Portland, Maine. James is a pre-construction lender.
Maxine Kenny with Colliers is looking to place 5 to 15 million dollars in retail or office properties and is also looking for a 40 unit multi-family in New Hampshire.
Jerry Bazata with Newburyport 5 Cents Savings rolled out his DJ take on the repeated offering of cash for deals likening it to a beautiful broken record.
Tony Donovan with KW Commercial has an investor from Haverhill, Massachusetts with 200K to 300K cash to add leverage to deals.
Nicole Canavan with Century 21 North Shore joined us for the first time. Nicole is looking for 3 acres with land on a lake to make a camp.
Robert Cruess with TF Moran and MSC Engineering has 60 people in house serving up civil engineering, structural engineering, surveying, and landscape architecture. They have worked with lots of realtors.
Ute Luxem with Profile Bank has lots of money to help you gain enough liquidity to float your project.
Andy Ward with Colliers is looking for 1500 sf of Class A or B space in Downtown Portsmouth beginning immediately or sometime in the next couple of years. They would rather buy and are a financial services company.
Michael J. Farinola, Certified General Appraiser Licensed in New Hampshire & Maine apprised us that he appraises.
Al Silva with Silva Graphics also can help with awnings and their colors and graphics.
Mary Ellen Humphrey with Durham Economic Development shared that there is a lot going on in Durham and to come on down to town.
Greg Schena with Masiello Commercial has an engineering background and recently launched his commercial brokerage career with Patti Visconte.
Ralph Pope with Coldwell Banker has a guy from Massachusetts looking for a machine shop in New Hampshire in the 1500 to 2000 sf range for under 300 thousand dollars.
Peter Gluckler with Masiello is looking for 1/3 to 1/2 of an acre in Plaistow with good access as well as some land or a tear down in Somersworth for 6,000 sf of retail warehouse.
Kyung Kim with Howe, Riley, and Howe is a partner in Portsmouth serving individuals, non-profits, and closely held businesses. They survived the 15 October deadline once again.
David Hodgdon with PCG and ClicknFix was networking to help you with your networks.
Kiersten Gerow with Exchange Authority is an attorney and can assist as an intermediary during purchases to achieve reverse exchanges.
Jeff Hiatt with Performance Business Solutions is happy to assist with cost segregation and depreciation solutions.
Danielle Lape with King Real Estate is looking for larger multi-family development sites in Southern Maine and New Hampshire.
Patti Visconte with Masiello Commercial returned after an extended hiatus and was warmly welcomed. Patti has a hunt going for multi-families in the 400 to 800 thousand dollar area with 20 units minimum.
Larry Zellers with Portsmouth Computer and Copy copied us on their capabilities.
Beth Chea with Wells Fargo is facile with SBA lending and can do some rate locking for their loans in addition to the SBA portion rate lock.
Jeff Brown with TD Bank has cash to share and has a machine shop coming to Rochester looking for 5,000 sf of existing to lease or buy, now like. Buy is better and although the focus is Rochester, you never know.
Peter Kiriakoutsos with Howe, Riley, and Howe noted they have a main base in Manchester and a new base in Portsmouth. They are happy to help with medium size businesses, trusts, estates, and real estate brokers.
Dallas Lagerquist with Primary Bank says that their 80 day old bank is the first bank to open in New Hampshire in the last 8 years. They are locally owned and committed to commercial.
Barbara Lizotte with Tobey & Merrill Insurance helps with commercial lines.
Wendy Rayno with Federal Savings brings confidence via 20 years of experience in commercial lending and SBA 504 programs.
Mark Sullivan with Seacoast Asset Management can help with the 1031 exchange workings and improve tax situations.
Dave Garvey with KW Commercial has two buyers who are similar both in the 3 to 5 million dollar range. One is looking for just commercial with no residential and 40,000 sf of building. The other is looking for 16 minimum units of multi-family existing or land for the same.
Russ Doyle with Two International Group thanked Marie Bodi and CP Management for being fantastic in all they do.
Marie Bodi with CP Management recommended those new to NHCIBOR and with retail needs to loop in with Robert Cruess to avail yourself of his retail knowledge and networking. Robert is a regular attendee at the ICSC, International Council of Shopping Centers, shows. Marie also shared other NHCIBOR benefits like the notes she gets from people sharing they love her, like Al Silva.
David Choate with Colliers has a buyer looking for small industrial in the 2500 to 3000 sf range. For reference, David shared an industrial condo transaction that sold in the 106 dollar psf range at 280 Heritage Avenue in Portsmouth.
Announcements
The statewide NHCIBOR marketing meeting occurs on the 4th Wednesday of the month from 9:00 to 10:15 and is being held at the offices of NAI Norwood Group in Bedford for the short term while the GMNBR renovates the building it just purchased.
On 30 October 2015 there will be a professional development series about real estate laws in New Hampshire at Verani in Londonderry from 9:00 to 11:45 with 2 credits available.
On 13 November 2015 Colliers’ Neil Barrett is doing a core course at Verani in Londonderry.
Tony Donovan recommended attendance at the MEREDA annual conference on 21 January 2016.
Listings
Tony Fallon with Tony Fallon Architecture does a lot of pro bono work including the Workforce Housing Coalition’s Barrington charrette as well as helping brokers deal deals. A formerly confidential listing, 355 Main Street in Ogunquit, Maine, is being marketed by Pam Lynch. Robert Cruess helped her with some site concepts and Tony was asked to create 4 retail units to go with this. To the delight of Pam and the owner, Tony drew a concept to create a 2nd floor inn to go over the retail.
Bob Marchewka with One Commercial has a second floor 2500 sf office space on Market Square in Portsmouth and 1500 sf at 30 Mirona Road for 1495 dollars per month with free parking, internet, and 5 years of free beer.
Tadd Dziemian with Neighborhood Energy noted the quoted rates for electricity are climbing and that he can usually do a penny or two better.
Don Marshall with Marshall Associates is a general business broker. Don has an owner operator that he sold a business to in Southern Vermont that is bringing it back to Don for him to sell now that it is time for him to move on. This seller actually didn’t spend much time on site with this antique sales site that 500 dealers rent space in. The business is going for 325 thousand dollars and cash flows 100 thousand dollars per year.
Travis Ramsey with Creative Imaging Group helps all types of commercial businesses. With the Camden National Bank’s purchase of the Bank of Maine, they helped with all the logo switching from letterhead to paper towels.
Christian Stallkamp with CBRE has a new listing at 3510 Lafayette Road in Portsmouth that is a multi-tenant office and was originally a Mexican restaurant. Part of this complex is an 11,000 sf flex industrial space with a house that the owner will sell and lease back for a short period at an 8.5 cap for a group that is moving to a new building it is constructing on Heritage Avenue.
Laura Farago with Colliers has 92 acres for sale in Farmington on Route 11 that might be of interest to loggers or forestry investors. It is a mile north of the new Granite Ridge retail site.
Maxine Kenny with Colliers has high visibility 1.46 acres in Epping that is currently a 2950 sf restaurant with brand new parking and is 1 mile from Brickyard.
Jerry Bazata with Newburyport 5 Cents Savings took a tour of 195 Broadway in New York City and saw a 75,000 sf office which only had one walled off office which was for the president.. Everything else was open concept and there are phone booths for telephoning. The conference rooms are small with just 12 seats and most gathering is via video conferencing. Beer, wine, and champagne flow on Friday afternoons.
Tony Donovan with KW Commercial would be in the phone booth all day. Tony has a lease for 1/2 of the building that the Weathervane Restaurant is in in Kittery, just across from the Kittery Trading Post. This nice 9,000 sf of retail will go for 18 dollars psf NNN and it is near Starbucks with lots of parking.
Nicole Canavan with Century 21 North Shore has 9950 sf on Main Street in Keene that encompasses a restaurant, office, 2 apartments, and a 2 story homeless shelter. The owner will sell all with the restaurant business too.
Robert Cruess with TF Moran and MSC is working on a project across fromCR’s in Hampton which is planned for a 100 unit assisted living facility. They recently received good reviews on some landscape architecture they designed for Southern New Hampshire University.
Andy Ward with Colliers has 56-58 Main Street in Raymond that is a good investor opportunity. A buyer could take some space in the two buildings. There are offices on the first floor and 3 apartments on the second floor at 56 Main. There was a 4th apartment that became an office and is now back to an apartment. This is an 8 cap and with the apartment leasing goes to over a 10 cap.
Michael J. Farinola, Certified General Appraiser Licensed in New Hampshire & Maine is working on something that is available on 3/4 of an acre on the Suncook River. There are 5 units consisting of one duplex and 3 motor cabins with nothing across the river going for 250 thousand dollars.
Al Silva with Silva Graphics can do vehicle dos with wraps, graphics, and magnets.
Mary Ellen Humphrey with Durham Economic Development says lots of construction is going on in Durham and there are two spaces for restaurants, one being 2000 sf and one slightly larger. There is a little more office and retail available but it is going fast.
Greg Schena with Masiello Commercial has a 3500 sf bakery on Portsmouth Avenue in Exeter going for 895 thousand dollars for just the real estate.
Ralph Pope with Coldwell Banker has a multi-family at 67 Elm Street in Somersworth, a bank in Somersworth, a multi-family in Somersworth, and 20 acres in Newfields that is in the Exeter School District going for 430 thousand dollars.
Peter Gluckler with Masiello Commercial has a mixed use on Route 9 in Berwick with a convenience store, apartment, and a mobile home along with a two story storage building.
Kyung Kim with Howe, Riley, and Howe can assist with year end tax planning. Contact them for the advantages offered.
David Hodgdon with PCG and ClicknFix has the area’s largest computer hardware stock including HP Lenovos going for 395 dollars all geared up with 4 megs of ram.
Kiersten Gerow with Exchange Authority has fun saving people money and noted that Laura Farago’s forestry offering can benefit from 1031 picturing of the standing timber.
Jeff Hiatt with Performance Business Solutions offers cost segregation and continuing education for both commercial and residential real estate people. He has classes coming up in a month or two ranging from two to four hours in the Seacoast and Hudson.
Erik Crisman with Brookstone Builders will happily help with estimating.
Danielle Lape with King Real Estate has 6000 sf at 125 Brewery Lane that was a gym and is going for 15 dollars psf NNN with $3.15 for the nets. There are 4 offices and a couple of open bullpens.
Patti Visconte with Masiello Commercial has the former NAPA building at 2875 Lafayette Road in Portsmouth. This has been sort of available for 6 years and is now really ready with 6200 sf of showroom, lots of signage, great traffic count, a Dunkin Donuts, and the great rate of 16 dollars psf NNN with 4.20 for the nets. Also, Patti has a great investment opportunity entailing 67,000 sf of industrial mix with 8 units and an 8 cap. The owner is willing to stay for a while at this family owned situation going for 3.9 million dollars.
Mindi Messmer with Barton & Loguidice can navigate messy scenes with property transfers at small gas stations and larger, complex, industrial deals. Mindi reminded all about the 22 December 2015 deadline for getting your underground tanks in line.
Larry Zellers with Portsmouth Computer and Copy talked of the Toshiba 0 percent deal and their lease/buy back offerings.
Stacey Abel with Kane has an Orchard Park offering going for 16.50 dollars psf that would be good for a medical use given the proximity to Portsmouth Hospital.
Beth Chea with Wells Fargo says all is well that ends well.
Bob Viel with Remax Legacy has the 2040 sf unit 4 on Central Avenue in Dover going for 10 dollars psf NNN with 3.49 for the nets and 1635 sf at 660 Central Avenue going for $159,900 serving up an 8 cap.
Jeff Brown with TD Bank has lots of money at low rates. Jeff also talked up TD’s sponsorship of the Rochester Opera House over the last 5 years and talked up the Opera House even more with free ticket offerings to help make you a believer.
Peter Kiriakoutsos with Howe, Riley, and Howe can do accounting outsourcing for your business and offer up simpler things like bookkeeping, bill paying, along with more complex things with a comptroller or CFO.
Barbara Lizotte with Tobey & Merrill Insurance tossed kudos to Jeff Hiatt and noted the great feedback she has heard from his continuing ed sessions they co-sponsor. Barbara is fluent in real estate and business insurance and recently did a beta test for an international insurer.
Wendy Rayno with Federal Savings Bank is a commercial lender and has a party that has all the approvals for a new 12 unit multi-family on Rochester Hill Road near Frisbie Hospital in Rochester going for 480 thousand dollars.
Mark Sullivan with Seacoast Asset Management has 32 years in the business and noted that the markets have averaged 10% in recent times while many funds have averaged 4%. Mark worked in a fiduciary department for a bank handling large personal assets and brings this same ficuciary dedication to those with smaller wells. Mark then welled up and said, “Go Patriots!”
Dave Garvey with KW Commercial has Country Place in Barrington that is a mixed use with residential and commercial complete with long term tenants going for $999,999. Also, in Sanford, Dave has a restaurant and function facility asking for any offer.
Russ Doyle with Two International Group has an older listing that used to be the Air Force Chapel and more recently Equinox. These 8900 sf are unique at Pease with lots of signage. It is a cool building.
Marie Bodi with CP Management also lauded Jeff Hiatt’s continuing education courses for not being dry, but rather great. Marie also thanked Tadd Dziemian for the pennies of savings that have piled high.
David Choate with Colliers has 57,000 sf at the Gonic Mill that goes from down and dirty warehouse to beautifully restored office space with prices from 3.50 dollars psf to 11.00 dollars psf plus utilities. This is a great building for office, warehouse, light industrial, and storage. David also has a new listing at 270 West Road in Portsmouth consisting of 3,450 sf of a 5000 sf unit that he sold 12 years ago. There is 1100 sf of office and 2350 sf of warehouse with loading dock for 7 dollars psf NNN.
Haves and Wants
Tony Fallon with Tony Fallon Architecture noted these notes.
Bob Marchewka with One Commercial has 4000 sf in Downtown Portsmouth that could be housing or a restaurant. There might be something that could be plunked in the attic. This confidential listing is going for 1.5 million dollars.
Tad Dziemian with Neighborhood Energy helps with natural gas too. He can get you into a 60 cent per therm deal now and it looks like the standard in November from the utilities is going to be around 78 cents per therm.
Don Marshall with Marshall Associates has a beer emporium with 800 different brands that cash flows 75,000 and is going for 350 thousand dollars.
Travis Ramsey with Creative Imaging Group shared that they can manage your social media sharing and drive customers to your nodes with direct mail.
Christian Stallkamp with CBRE has an office use looking for 15,000 to 30,000 sf with lots of parking in the Seacoast that can fast cash close in 30 days.
James Goodhue with Primary Bank has some off market opportunities. One is 141 units with 97% occupancy in Nashua. Another is a credit tenant deal in Fitchburg, Massachusetts. A third is a credit tenant 1031 exchange.
Laura Farago with Colliers has the 6300 sf former Robbins Auto Parts in Rochester going for 339 thousand dollars. This has both its own parking and some on street parking and is near the Police Station and Town Hall. It can be leased too.
Maxine Kenny with Colliers has 6900 sf of high bay warehouse 1.5 miles from Downtown Portsmouth on the Route 1 Bypass going for 7.50 dollars psf NNN. Also, Maxine has 2908 sf of new office for 12.50 dollars psf NNN. A third offering of note is a pair of 12,000 sf spaces with two loading docks.
Jerry Bazata with Newburyport 5 Cents Savings also was in New York for the premier wedding industry event rubbing elbows with tinsel town.
Tony Donovan with KW Commercial thanked Travis for great work. Tony has 11,000 sf in Wells at an antique mall that can be converted or operated as is. The price just descended from 975 thousand to 775 thousand dollars. There is a building, house, and barn. Also, Tony still has the super deal with a 25 room hotel in Boothbay Harbor, Maine that includes a heated pool and a plummeting price from 795 to 695 thousand dollars. Move in to where there are motivated sellers.
Nicole Canavan with Century 21 North Shore has a country farm stand in Chichester on Route 4 that could house many businesses and maybe a drive through. It is available immediately. Also Nicole has an office in Nashua that currently houses two attorneys and two paralegals.
Robert Cruess with TF Moran and MSC Engineering just bought another structural engineering firm with 12 engineers.
Andy Ward with Colliers has 40 Elmo Lane in Rochester that now has the 21,400 f building along with all 59 acres available going for 1.4 million dollars. There are two cleared lots that can be developed right off the existing drive and maybe 3 more lots if a spur road is completed. This would be great for a road contractor/investor and was recently rezoned to industrial.
Michael J. Farinola, Certified General Appraiser Licensed in New Hampshire & Maine is busy but the lead time is dropping.
Al Silva with Silva Graphics does love Marie.
Mary Ellen Humphrey with Durham Economic Development says for any listing in Durham to ring her up.
Greg Schena with Masiello Commercial has a high tech software client in Hampton looking for 4,000 to 5,000 sf on the first floor in Hampton to Portsmouth to Exeter.
Ralph Pope with Coldwell Banker has someone looking to purchase a site for a 25 bed rehab facility.
Peter Gluckler with Masiello Commercial has two commercial listings on Route 1 in Wells and 27.5 acres in South Berwick.
Kyung Kim with Howe, Riley, and Howe noted a dip in the New Hampshire business tax rates from 8.50 to 8.32 for the Business Profits and 7.50 to 7.20 for the Business Enterprise.
David Hodgdon with PCG and ClicknFix has a couple of new 20 seat clients along with Piscataqua Landscaping and Pilot Construction. Dave spoke of the new solid state drives.
Kiersten Gerow with Exchange Authority urged all to click onto http://1031taxreform.com and at the bottom send a letter to your senators and congress person quick and to tell your friends to also.
Erik Crisman with Brookstone Builders is part of a 30 year woman owned business.
Danielle Lape with King Real Estate has 3,000 sf of warehouse bay with 2 offices and overhead door at 210 West Road in Portsmouth going for 6.50 dollars psf with nets at 3.48. Also Danielle has 909 Islington with 2500 sf and high ceilings for 13.50 dollars psf NNN with nets at 3.50.
Patti Visconte with Masiello Commercial has 10,000 sf of warehouse in Hampton that is quite clean going for 5.50 dollars psf NNN with 1.40 nets. Another listing Patti has is a 12,000 sf mixed use with tons of power going for 699 thousand dollars. There was a lively exchange between Patti and David Choate about their respective gaffs of buttons and lions, oh my!
Mindi Messmer with Barton & Loguidice has a group looking for mom and pop gas stations. They move quickly and close in 2 1/2 weeks with cash on existing and new.
Larry Zellers with Portsmouth Computer and Copy will copy all your contracts for free at 270 West Road.
Stacey Abel with Kane has 1300 to 1600 sf at Commerce Way with TI money ready going for 15.50 to 16.50 dollars psf.
Bob Viel with Remax Legacy has buyers looking to finance a 10 cap multi-family in the Oyster River School District.
Jeff Brown with TD Bank made music about the current show, The Music Man, at the Rochester Opera House.
Dallas Lagerquist with Primary Bank says that although only 80 days old, they have not missed a beat with SBA lending. The do some commercial lending swaps too. Dallas also reminded all to stock up your local food pantry at places like the New Horizons Soup Kitchen in Bedford.
Wendy Rayno with Federal Savings Bank has a client looking for 4000 sf of office space and two bays. They will lease or buy and prefer Hampton or North Hampton and maybe Greenland.
Mark Sullivan with Seacoast Asset Management talked up the Peas and Carrots Food Drive.
Marie Bodi with CP Management says if you are new to keep on coming to these meetings because you never know. CP Management received their largest piece of business ever at one of these meetings.
David Choate with Colliers has a long standing listing that he would really appreciate some help with. It is the second floor of 111 New Hampshire Avenue where there is 14,000 sf of office space and they would consider almost any increment of that. The rate is 20 dollars psf full gross.
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 8:00 – 9:45 am on the third Friday of October, 20 November 2015, at
One New Hampshire Avenue, Third Floor Conference Room
Pease International Tradeport
The sponsor will be Newburyport 5 Cents Savings