Seacoast Marketing Meeting Minutes September 2015

18 September 2015
NHCIBOR
New Hampshire Commercial Investment Board of Realtors
Minutes of Seacoast Marketing Session

Jon Shapleigh with Bank of New Hampshire was the breakfast sponsor and Mezzanine Catering by Sally Cobb provided the sweet sustenance. Jon thanked David Choate for the best networking event in the Seacoast. Jon is one of 12 commercial lenders in New Hampshire and manages the Seacoast to Rochester area. They recently brought in Candice Miller from Citizens and Joanne Gagnon from Merrimack Valley Savings. Bank of New Hampshire is the largest mutual bank in the state and can assist with a broad range of services from retail transactions to wealth management. All lending decisions are made in New Hampshire and Jon hops in the car to drive to Laconia to gain approval for loans over a million dollars Their in house lending goes up to 17 million dollars and their asset pool is 1.2 billion dollars.

Cash Buyers

Tony Fallon with Tony Fallon Architecture can assist with commercial and residential Architecture in Maine, Massachusetts, and New Hampshire. Tony assisted the national chain Paper Source as well as their Chicago architect with its Burlington, Massachusetts Wayside fit up.

Mark Sullivan with Seacoast Asset Management figures if you do a web search on fiduciary and learn what it means you’ll probably be 100 thousand dollars the richer.

Bob Marchewka with One Commercial has a hunt on for land or building renovation for 12 to 16 housing units in Portsmouth or nearby. This might be either set up as condos or apartments.

Ute Luxem with Profile Bank is a commercial lender with a 110 year old bank based in Rochester, New Hampshire. They have money to lend in this area with low interest rates for another month. The Fed is likely to raise the rates this year.

Don Marshall with Marshall Associates is a general business broker who is facile with the delicacies of non-disruptive marketing. Don will carefully shield the buyer search from employees, customers, and competitors with confidence confidentially.

Nina Cutts with Institution for Savings serves up competitive interest rates including long term fixed rates.

Jim O’Donnell with 2 The Top Marketing helps you leap to the top of the search engine pile and then keep the ranking high as well as serving up lots of qualified customers.

Andy Ward with Colliers has a builder investor looking for a value add opportunity in the greater Seabrook area. They prefer industrial and the picture sought is something that maybe is 50% operating and 50% needing work.

Stacey Abel with Kane was welcomed to her initial meeting. Stacey has been doing property management at Kane for 4 years and is now shifting to the brokerage side and so is seeking leads.

Andre Tremblay with Franklin Savings Bank operates in New Hampshire and throughout New England with long term commercial mortgages & low fees and remains easy to work with.

Peter Kiriakoutsos with Howe, Riley, and Howe is part of the new beachhead their firm has landed in Portsmouth from their Manchester, New Hampshire headquarters. They have been enjoying the first three months and work frequently with small closely held companies, medium sized businesses, non-profits, and individual estate trusts.

Kyung Kim with Howe, Riley, and Howe let us know they are happy with the decision to set up shop here and it is working well.

Ben Baroody with Elm Grove Realty has two hunts on. A pub in Portsmouth and an income opportunity within 15 miles of Durham, New Hampshire.

Robert Cruess with TF Moran and MSC is working on a 100 unit assisted living project in Hampton and shared that there were 500 people at the services for Tom Fini’s wife. We share our thoughts and prayers for the Fini family.

Karen Pollard with Rochester Economic Development will be joining us more regularly in lieu of Jenn Marsh due to commuting convenience. Karen shared that Rochester has a pool of dough to help with businesses that need a boost but they have to land in Rochester to access this resource.

Ralph Pope with Coldwell Banker has a guy looking to downsize a machine shop and is seeking a smaller shop space in the Exeter to Hampton area for 300 thousand dollars or so. Ralph also has some land in Somersworth that looks like it would accommodate 25 units for 145 thousand dollars.

Al Silva with Silva Graphics has a friend with a music store in a strip mall that wants to go to a stand alone building.

Jerry Bazata with Newburyport 5 Cents Savings can lend in Maine and New Hampshire and is one of the few lenders unhappy that the Fed did not raise rates yet as he thinks it would help the economy overall.

Doreen Austin with Northeast Credit Union manages their commercial lending and has buckets and boat loads of money to bring.

Vincent Chestnut with Alpha Locksmith wants to help you master your life with master keys.

Bill Jean with Fulcrum Associates in Amherst, New Hampshire helps tenant improvement and new construction in Northern Massachusetts, New Hampshire, and Southern Maine.

Nick Aube with Avery Insurance shared details of a merger celebration party on October 20 at Atlantic Grille for the merging of SASS and A Safe Place.

Susan Miltner with Seacoast Business Machines brought in some of the next generation of dedicated service personnel from their organization, her son Terry and his friend Mike. Business is booming and their new Manchester, New Hampshire office is a good asset along with the next generation.

Mary Ellen Humphrey with Durham Economic Development has heard lots of good things about the project that Fulcrum just wrapped up in Downtown Durham, New Hampshire and invited all to come see the changed townscape oh so vibrant.

Dallas Lagerquist with Primary Bank is proud to be with the seasoned 47 day old bank based in Bedford, New Hampshire that Fulcrum built. Primary Bank’s genesis began 2 years ago with the gathering together of 350 local investors who joined up to serve and have fun.

Lynne Bagby with Asset Preservation navigates 1031 landscape for you and yours.

Tia Hagan with Regus has offices available with flexible terms for those with a holdover situation or single proprietor along with those seeking virtual, private, and shared offices.

Danielle Lape with King Real Estate helps with both commercial and residential in Maine and New Hampshire. Danielle has a current search on for development parcels in New Hampshire and Maine that would allow 10 or so homes. It is OK if there are no permits or lapsed permits.

Pam Lynch with NAI Norwood is both a commercial real estate and business broker. Pam has a buyer looking for a business that is not food, hospitality, or construction.

Adam Johnston with Bank of New England services strictly commercial real estate from Rhode Island to Portland, Maine.

Beth Chea with Wells Fargo touted the tiny boutique flavor with small intimate flavor of her behemoth bank.

Joe Friedman with Brooks Properties said they are brokers and developers in the Interstate 93 Corridor straddling the Massachusetts and New Hampshire border.

Jeff Brown with TD Bank has a buyer looking for sale/lease backs with medical operations across the fruited plane of the United States of America.

Bob Viel with Remax Legacy is eternally grateful to Alpha Locksmith for getting a property opened for a showing that closed the deal.

Dan Barufaldi with DBIDA passed around a nice article that Maxine Kenny with Colliers wrote about the delights of Dover for the New England Real Estate Journal.

Russ Lee with Creative Office Pavilion joined us for the first time. Russ was a broker in Colorado and so talks your talk while he helps your clients with interior modular wall systems that touch the ceiling and are way tech like.

Bruce Jones with Creative Office Pavilion delivers on the furniture side of your needs for interior fit ups with in house delivery, storage, and installation teams from 7 offices throughout New England.

Jim Turmelle with Profile Insurance Group can assist with commercial property, liability, and workman’s comp throughout Maine, New Hampshire, and Massachusetts.

Dave Garvey with KW Commercial is hunting for 150 to 200 apartment unit deals and land for the same in Portsmouth or as close as close can be.

Jon Shapleigh with Bank of New Hampshire let us know that the SBA rates are still at a touch under 5% and can be locked for 20 years. Jon recently has written three loans with this as a component.

David Choate with Colliers has investors looking to land 3 to 16 million dollars in New England or Upstate New York for offices or maybe hotels.
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.

Marie Bodi’s father passed recently and we keep Marie and family in our thoughts and prayers.

The next quarterly meeting is on the September 25 at SERESC and the topic is investment real estate. A few spots remain.

The Next Professional Development Series program is on October 30 – consult the CIBOR website for details.

Listings

Tony Fallon with Tony Fallon Architecture thanked Dave Garvey for referring him the tenant fit up in Pembroke for Next Level Church. Tony enjoyed seeing the Million Dollar Quartet last night at the Ogunquit Playhouse and his conversation with a property manager with Pilgrim Park in Waterbury, Vermont. She has gotten hooked on the true Broadway entertainment served up at the Playhouse and now comes down for a couple of overnights a couple of times a year to see a show.

Mark Sullivan with Seacoast Asset Management touted the golf outing for the Seacoast Food Pantry that will include the UNH Wildcat Varsity Hockey Team and their fearless leader, Coach Umile on 28 September 2015 at the Seacoast Golf Club at Pease. Get out to help the pantry up!

Bob Marchewka with One Commercial has a client that has purchased 21 Daniel Street in Portsmouth and has 2650 sf for lease on the second floor above Provident Bank. It’s yours for 4000 dollars per month which is 18 dollars psf modified gross. It is a great downtown location and the owners will be generous with the tenant improvement dollars.

Ute Luxem with Profile Bank mentioned 3600 sf for lease on Route 108 for 12 dollars psf next to Strafford Appliance.

Don Marshall with Marshall Associates is a general business broker and congratulated Karen Pollard on her accomplishments in Rochester that were highlighted in a recent New Hampshire Business Review article. The article touted Rochester for its business friendly modus operandi.

Nina Cutts with Institution for Savings has rates that can be kept for up to 20 years.

Russ Doyle with Two International Group will be listing 200 International Drive next month with 12,000 sf of office and warehouse/industrial. This flex building is about 50/50 office to high bay now and of course that percentage can be adjusted. Russ also beamed about their new website and lauded their new logo.

Jim O’Donnell with 2 The Top Marketing is your digital and online marketing agency with facile facilities to facilitate SEO and SEM. They can help you be seen seemingly simply but with all the bases of 1000 words per page and one keyword per page covered completely.

Andy Ward with Colliers has 56-58 Main Street in Raymond that is being positioned for investors with 4510 sf and 3 apartments for 355 thousand dollars.

Stacey Abel with Kane has 1066 sf for 16.50 dollars psf NNN at Orchard Park with tons of parking and nice exposure.

Andre Tremblay with Franklin Savings Bank has 3 active apartment buyers that remain on the hunt. 40 units and up in Southern New Hampshire, Southern Maine, and perhaps Northern Massachusetts is the picture perfect.
Peter Kiriakoutsos with Howe, Riley, and Howe said they are gearing up for the year end tax planning and will be happy to help.

Kyung Kim with Howe, Riley, and Howe will virtually build your outsourced bookkeeping and/or accounting unit within their walls. Of course they can do the traditional CPA role too.

Ben Baroody with Elm Grove Realty doesn’t often get excited about listings but this is one. Ben is just getting the listing together for a two story office facing the Merrimack River in Bow, New Hampshire that has a patio on the river side too. This is clean, beautiful, and has conference rooms facing the river on each floor.

Robert Cruess with TF Moran and MSC is now up to 10 Structural Engineers and so is one of the largest structural groups in the state. They can handle things like the 600,000 sf Pratt and Whitney building in Bow and take a look at your large flat roofs vis a vis their ability to hold up snow.

Karen Pollard with Rochester Economic Development thanked Don for the kudos and reached out to those having trouble finding land and buildings in the Portsmouth area to come on up to Rochester where they have lots of both available. They have sought and achieved a streamlined approval process with board approvals obtained usually in one or two meetings at the most. New buildings can go up very quickly in Rochester. Dave Garvey chimed in with how fast and easy his recent project went into the Granite State Business Park.

Ralph Pope with Coldwell Banker talked up Somersworth with the downtown’s rebirth bringing a much nicer looking place. Ralph has listings there for a three family, a former bank, and some land.

Al Silva with Silva Graphics can help with silkscreening for fabrics like bags and shirts.

Jerry Bazata with Newburyport 5 Cents gave us the lowdown on the wedding in a warehouse where the bride had tired of the service with two wedding venues and her father then bought a warehouse and had it outfitted for the festivities where Jerry spun the disks.

Doreen Austin with Northeast Credit Union serves up the full breadth of services that big banks do and is happy to work with you and yours.

Vince Chestnut with Alpha Locksmith can also simplify your lock scene with passcode locksets that can have different finishes on each side of the door and up to 20 codes to key in.

Bill Jean with Fulcrum Associates can assist early on.

Christine Soutter with Somersworth Economic Development said that things are starting to percolate and talked up Ralph Pope’s former bank listing.

Susan Miltner with Seacoast Business Machines provides free printing for non-profits.
Mike with Seacoast Business Machines noted they won a bid for Xerox recently for the City of Manchester, New Hampshire.

Mary Ellen Humphrey with Durham Economic Development said that in two of the really nice new commercial developments in Durham there are 2000 and 4090 sf units available that could be good for bakeries or restaurants.

Dallas Lagerquist with Primary Bank said that with their 30 million dollars in assets they can lend to 3.5 million dollars and they have lined up two great partners for participating on larger loans.

Laura Farago with Colliers has a new sublease listing with 12 private offices, 15 to 20 cubicles, two conference rooms, a break room, and a training room. The rate is 16.50 dollars psf modified gross and the location is Suite 300 at 230 Commerce Way.

Lynne Bagby with Asset Preservation underlined the important importance of ownership structure with regards to 1031 exchanges. She has seen too many that didn’t think about that until closing time and it is much better to verify that the owner(s) want to keep the same structure or would benefit from a rejiggered arrangement for optimal tax and earning benefits.

Tia Hagan with Regus is having an open house from 7:30 to 10:30 am on 22 September 2015 and would love to show you how you can work better from home. Their favorite tenant is Peter and Kyung.

Danielle Lape with King Realty has 3000 sf for 6.50 dollars psf NNN with 3.48 dollar nets with two offices on the first floor and a mezzanine with a couple offices and a bull pen at 210 West Road.

Pam Lynch with NAI Norwood has a new retail listing on Route One in Cape Neddick across from Pie in the Sky bakery. This beautiful 3000 sf barn has parking for 15 cars.

Adam Johnston with Bank of New England has special financing deals for strategic acquisitions up to 13 million dollars.

Beth Chea with Wells Fargo can do long term fixed rates up to 25 years and is facile with professional offices like opthamologists and veterinarians.

Joe Friedman with Brooks Properties has arranged for an open house at Brookstone Park on Route 111 with a lunch, limo tour of their properties, golf outing, and cocktails beginning at 11:30 on Friday 16 October 2015, just after the Seacoast Marketing Session. Fun learning!

Jeff Brown with TD Bank thanked Pete and Kyung for the referral of a dental practice in Newburyport that availed itself of their special professional financing line. TD is dedicated to working with the professional offices and is happy to cover that via participation for other banks.

Bob Viel with Remax Legacy has a motivated owner with a restaurant going for $39,900 in Dover, New Hampshire near the soon to be revamped Strand Theater.

Dan Barufaldi with DBIDA still has some great land in Enterprise Park with the rate of sale being 60,000 dollars per usable acre. Dan also passed around the quarterly Economic Action newsletter that included the City Manager’s Report where Dan shares that there is 100 million dollars of development under way.

Russ Lee with Creative Office Pavilion shared that they work in corporate, educational, and medical markets. Their modular systems allow for 7 year depreciation which is much faster than normal.

Bruce Jones with Creative Office Pavilion can provide 3d visioning of layouts for free.

Jim Turmelle with Profile Insurance Group shared the coincidence of hearing of Tony Fallon’s win win solution for ice dams last month and having the first thing he looked at back at his office be an article on how last years ice dams are going to spike up home owner’s insurance premiums.

Dave Garvey with KW Commercial has almost sold the Lee campground a couple of times and hopes this good deal is dealt soon. This 10.5 cap on 132 acres with water frontage, 132 campsites, and 15 more that might be added is going for 1.2 million dollars. Dave did shout out kudos to Rochester where the deals are usually fully vetted before they even make it to the Planning Board.

Jon Shapleigh with Bank of New England is actively looking for people and places to allow expansion in the Seacoast and Westerly sections of New Hampshire.

David Choate with Colliers has 1659 sf going for 18 dollars psf NNN (0r $390,000 to buy) at 500 Market St. in Portsmouth with the current tenant wanting to downsize to Regus.

Haves and Wants

Tony Fallon with Tony Fallon Architecture noted that the Ogunquit Playhouse is gearing up for a capital campaign to allow for the construction of a couple of projects that he has designed and for which he gained some planning and historic approval. Tony also helped out with some code navigation for a tenant fit up at 20 Spaulding Avenue in Rochester where a 10,000 sf grow operation is going in for a medical marijuana group. Tony shared that the owner really appreciated Rochester’s business friendly approach.

Mark Sullivan with Seacoast Asset Management said that the 100 thousand saved with a fiduciary might be doubled every 6 years.

Bob Marchewka with One Commercial has 4000 sf in downtown Portsmouth that might be expandable to 5500 sf. This can be housing or office and will go for 1.5 million dollars or so.
Ute Luxem with Profile Bank is on a board that can help bring some cash to get deals to the finish line.

Don Marshall with Marshall Associates thought the crowd was good for pitching a day spa offering laser wrinkle removal with a sweet earning spot of 250 thousand dollars per year.

Nina Cutts with Institution for Savings leant us a bright smile saying she knows she wasn’t in the crowd pitched.

Russ Doyle with Two International queried Jerry Bazata about the bride and if she was appreciative of the warehouse dad’s extensive efforts. Yes she was and yes it was a rocking time. Jerry said that lots of brides are looking for fun locations that caterers can be brought to.

Jim O’Donnell with 2 The Top Marketing delights in digital development for you.

Andy Ward with Colliers has a nearby high bay warehouse for lease with 4300 sf and a heavy duty concrete slab mezzanine at 6B Robert Avenue next to Keene Medical Supply opposite The Beach Plum Restaurant in Portsmouth that is going for 7 dollars psf NNN, with nets at $2.50.

Stacey Abel with Kane has 1300 to 1800 sf at Commerce Way going for 15.50 dollars psf to 16.50 dollars psf with plenty of TI money to boot.

Andre Tremblay with Franklin Savings Bank recruited fence sitters and newcomers to join NHCIBOR via the online easy portal.

Peter Kiriakoutsos with Howe, Riley, and Howe thanked Jeff for good service and quick loan closing for the dental client he sent his way in Newburyport.

Kyung Kim with Howe, Riley, and Howe says to call them if you are having trouble with responsiveness. They ask themselves daily what have they done for their clients today and endeavor to respond quickly.

Ben Baroody with Elm Grove Realty has two young people that have some backing to take over businesses in the Durham to Portsmouth area.

Robert Cruess with TF Moran and MSC can assist with conceptual plans for sites gratis.

Karen Pollard with Rochester Economic Development let us know that the second phase of Granite Ridge being developed by Waterstone is about to get under construction and join the first phase that is already under way.

Ralph Pope with Coldwell Banker followed on with the Rochester theme and let us know that the two brick buildings with 7 commercial and 24 residential units can still be got for 1.79 million and offers a 1.2 million dollar assumable mortgage. And Ralph said to bring your weddings to Drakeside Road in Hampton where he has a barn along with two apartments, a metal building, and some showrooms.

Al Silva with Silva Graphics can help with signs in Maine, Massachusetts, and New Hampshire.

Jerry Bazata with Newburyport 5 Cents has been in banking for 30 years and this Seacoast Marketing Session is by far the best networking ever. Jerry thanked David Choate for helping gain a client Jerry had been chasing for 6 years.

Vince Chestnut with Alpha Locksmith says to put his number in your phone so you will have it handy when you show your offerings and can’t gain access.

Bill Jean with Fulcrum is happy to help.

Christine Soutter with Somersworth Economic Development beamed about the shiny new downtown Somersworth and said to come on down on some bright sunny day to look at the former police station or bank as a possible wedding venue. Somersworth is a good place for destination businesses and there is an interesting variety of opportunities abounding. Christine thanked Timberland and City Year for doing three substantial volunteer projects recently.

Susan Miltner with Seacoast Business Machines says the Tri-City Expo for Nashua, Manchester, and Concord is coming up on 1 October 2015 and is worth the trip from anywhere.

Mary Ellen Humphrey with Durham Economic Development highlighted a report ranking Durham as one of the 6th safest college towns in the United States of America. Mary Ellen let us know they are on the hunt for a new building inspector since Tom Johnson is retiring at the end of the year.

Dallas Lagerquist with Primary Bank offers full commercial services along with local decisions for small to large loans.

Laura Farago with Colliers has 1200 sf to 57,000 sf in the Gonic Mill going from 3.50 dollars psf to 11 dollars psf that sports parking, an elevator, and 3 phase power.

Lynne Bagby with Asset Preservation says not to shy away with tossing her a couple of questions here and there if you are just trying to figure out what to do.

Tia Hagan with Regus shared the sharing they have of 10% commissions for brokers and a 50 dollar Amex card to boot. They also have an additional 500 dollar Amex card for the next office booking. Tia thinks Regus has a great location with free parking and close to downtown proximity.

Danielle Lape with King Realty has 12,000 sf for 375 thousand dollars or 6.75 dollars psf NNN and 2500 to 7500 sf that is not contiguous due to a hallway. There are skylights too.

Pam Lynch with NAI Norwood is looking for a restaurant in Downtown Dover that is in walking distance to upper and lower square and seating for 40 to 60.

Adam Johnston with Bank of New England says to keep them in mind for rapid response.

Beth Chea with Wells Fargo says SBA is a good way.

Joe Friedman with Brooks Properties thinks he has 25,000 sf opening up that is currently a data center with all kinds of broad band internet access. Maybe good for a bank operations center.

Dan Barufaldi with DBIDA found an article that noted that Dover was 34th in the nation for women owned businesses.

Russ Lee with Creative Office Pavilion says their panelized walls are good for bankers.

Bruce Jones with Creative Office Pavilion let us know that you are welcome to bring people by their 5000 sf Manchester showroom and their 9000 sf Portland showroom which is set up as a lab of sorts for all the latest and greatest in office arrangements.

Jim Turmelle with Profile Insurance Group assists with personal, home, and auto too. If you have had the same insurance for 20 years, you should have it looked at.

Jon Shapleigh with Bank of New England reached out on his search for people as well as places to plunk banks in the Seacoast.

David Choate with Colliers has a hunt for 2000 to 3000 sf of mostly warehouse with a loading dock and 500 sf of office in the Portsmouth or Seacoast area.

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, 16 October 2015, at
One New Hampshire Avenue, Third Floor Conference Room
Pease International Tradeport

The sponsor will be CP Management

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