21 September 2018
NHCIBOR, New Hampshire Commercial Investment Board of Realtors
Minutes of Seacoast Marketing Session which occurs every third Wednesday of every month.
Third Floor Conference Room
One New Hampshire Avenue
Pease International Tradeport
Portsmouth, New Hampshire
Thank you to Two International Group for providing this meeting space!
Barry Leonard, Wendy Rayno, & Jon Shapleigh with Northway Bank were the breakfast sponsors and Mezzanine Catering brought the great breakfast. Barry had been with Bank of New Hampshire for 8 years as the chief of commercial lending. Northway is a 960 million dollar bank with a 14 million dollar legal lending limit and 16 offices from Berlin to Manchester to Portsmouth. They are looking at 18% growth this year and have a 460 million dollar portfolio and are the 4th largest SBA lender in New Hampshire. They are a stock bank closely held by New England residents and are intent on staying in New Hampshire. Wendy is a commercial lender and has known many people at Northway for a long time. Jon is happy to be with Northway for these last 8 months. Jon and Wendy also shifted from Bank of New Hampshire.
Tony Fallon with Tony Fallon Architecture recently helped with a project at 175 Heritage Avenue where he had worked on a tenant fit up for Thermo Fisher Scientific many years ago. Tony assisted the owner Stu Levenson and DeStefano Associates Construction with this tenant fit up for the trucking company that services Bob’s Stores.
Bob Marchewka with One Commercial has an industrial client looking for 10K to 15K sf in the Seacoast from Seabrook to Portsmouth but close to the coast. They will also look at industrially zoned land in the 10 acre range.
Chris Mark from Restore My Floor says if you walk on it, we work on it. They provide cleaning, maintenance, and installation of carpet, vinyl, ceramic tile, grout, and wood floors.
Scott Forte with Century 21 (he has left Verani!) services Maine, Massachusetts, and New Hampshire. Scott has someone looking for an opportunity in downtown Dover or Newmarket in the 500K range.
Ryan Theil with A1 Exterminators of Lynn, Massachusetts lives in Dover and is helping them move into New Hampshire given his 5 years industry experience.
Bryan Dubois with Dubois Associates has a cash buyer looking for 5,000 sf of office in Epping and will consider other locations within 20 minutes.
Caitlin Burke with CBRE has a mixed use hunt with 2,000 to 3,000 sf needed for the owner up to 1.2M in Portsmouth. They are a landlord elsewhere so they can manage the tenants in the balance of the building.
Abby Morneualt with USB and UNH joined us for the second time. She is a senior at the Paul School and an intern at USB Wealth Management.
Jay Lee with Berkshire Hathaway has a buyer looking for retail value adds and gas stations. They are all revved up to spend 20M.
Steve Mangekian with Alpha Inspections has 6 inspectors and introduced Petie Cummins, their new marketing magnet who is freshly graduated from UNH.
Petie Cummins with Alpha Inspections is their outside marketing lead. Petie is also a KW agent in Portsmouth.
Joe Friedman with Brooks Properties is a cash buyer of industrial and warehouse space along the I-93 corridor.
Ethan Ash with KW Commercial is a buyer of commercial and multi-families up to a million dollars and down to a 7 cap.
Erin Pike with Saint Germain Collins is an environmental consultant who will help with the simple desktop analyses to full phase one detailed depictions.
Vincent Chestnut with Alpha Locksmiths can replace the condo door keys and keep all pleased.
Dan Stout with Chapman Construction builds projects from 500K to 15M specializing on tenant fit ups.
Kevin Raymond with Optima Bank wheels the cash in so you can cash out.
Ray Dugdale with Colliers Financial constructs your loan request picture clearly for shopping to banks and others for competitive pricing.
Travis Burrows with WS Development are retail landlords such as the Gilford Walmart and a site in West Lebanon, New Hampshire.
Lindsay Desmettre with WS Development has 90 shopping centers like Epping Crossing and Lafayette Crossing in North Hampton.
Bryan Wright with Colliers is looking for a lease but may consider buying 4,000 to 7,000 sf close to the highway in Londonderry or Manchester.
Kyle Kadish with Advantage Wealth can help with 1031 exchanges and other vehicles that deliver similarly.
Marie Bodi with CP Property Management is a 3rd party manager. Marie knows of a floral wholesaler looking for 25K sf of space in Manchester or within 25 miles thereof.
Joe Campbell with North Branch says the Portsmouth Circle liquor store will wrap up this year with a bow.
Wayne Semprini with Olde Port Properties has a client looking for 3 to 6 unit condo conversions in Portsmouth.
Andy Fleisher with NAI Norwood has an investor looking in Maine for 5M and under with a national tenant in the 6 cap range. This is a conservative investor.
Kate Bristol with NewVo Interiors has an event on 25 October 2018, Thursday, from 5:00 to 7:00 pm at their office at 60 Rogers Street in Manchester that offers some CEU for design. Mobile work stations, changing technology, and productive environments will be discussed while free refreshments will be distributed. Learn and be wined and dined. A door prize is another present.
Bill Jean with Fulcrum provides CM for tenant improvement and ground up. Bill knows of a developer or two looking for 90 unit and up land deals that are on their way to approvals.
Matt Bacon with NAI Norwood is looking for 10K to 40K sf under roof on 3 acres but would prefer 7 to 15 acres near Londonderry. Also, Matt is looking for a gas station, car wash, or other cash money businesses in Southern New Hampshire or Northern Massachusetts from 2M to 8M.
Dylan Cruess with TFM/MSC is celebrating 50 years of civil engineering, surveys, and site concepts for your pitching sales to sold.
Jeff Hiatt with Performance Business Solutions serves up segregation of costs succinctly for the new tax code and wrangles regulations to your benefit.
Mike Farinola with New Hampshire Commercial Appraisers appraises in New Hampshire and York County, Maine for commercial.
Mary Ellen Humphrey with Durham Economic Development would like feedback on the rates of rise for cost psf of construction.
Joe Cunningham with Cunningham Associates provides insurance. Give him a call to run the numbers on the deal you are doing.
Dan Barufaldi with DBIDA touted the great article on Dover in Business New Hampshire Magazine.
Bob Viel with Bean Group serves Maine and New Hampshire.
Al Silva with Silva Graphics sticks up signs in Maine, New Hampshire, and Massachusetts.
Dave Garvey with KW Commercial is looking for 15,000 sf of half commercial and half production space visible from a highway, on the Seacoast, and that is affordable. Chuckle.
Wendy Rayno with Northway Bank is an experienced SBA lender.
Jon Shapleigh with Northway Bank predicted that the Sox will trounce the Yankees.
David Choate with Colliers is looking for someone looking to purchase a 15,000 to 30,000 sf industrial building in the Tri City area only.
The Statewide NHCIBOR meeting is the fourth Wednesday of the month at Matheson Education at 166 South River Road in Bedford from 9:00 to 10:15 am.
Dave Garvey updated us on the awful abdication of local control to the federal EPA in the so-called “MS4” regulations. New Hampshire is now one of only two states in the nation to not handle storm water applications in state. Please call your legislators to bring this back home.
Scott Forte’s new similar broker networking event to this meeting is looking for a location in Haverhill to meet at. They may be meeting every other month in Haverhill and every other month at Sea Glass at Salisbury Beach.
On 17 October, at Manchester Fratello’s, the annual NHCIBOR Cares event will be held. Marie is hoping to keep the cost low with more sponsors and the attendance high.
Tony Fallon with Tony Fallon Architecture is on the board of White Horse Addiction Inc. in Ossipee, New Hampshire. This faith based addiction treatment organization is growing quickly and helping to provide some very good news with regards to a very difficult topic. Since White Horse opened its doors a few years ago, what was the USA epicenter of a crisis has seen a 4 to 5 overdose a week rate plummet to 1 to 2 a month. 30 acres of land are getting provided for a token lease that may turn into a straight gift to help this hope flourish. Those wishing to contribute to an effective solution of this significant challenge are welcomed.
Bob Marchewka with One Commercial has a former motorcycle dealership in North Hampton for sale for 675K.
Chris Mark from Restore My Floor is working on a couple of medical facilities, 160,000 sf, and the UNH Folsom Library.
Scott Forte with Century 21 has 4,000 sf build to suit in Hampstead and a Lawrence mill location that is perfect for a brewery.
Ryan Theil with A1 Exterminators can bring a canine in to do a bed bug inspection for your hospitality or apartment purchase due diligence. Cheap money begets pounds of peace of mind.
Bryan Dubois with Dubois Associates has1,800 sf at One Bayside with high end finishes and a kitchenette. This could be retail or office.
Russ Doyle with Two International Group has a listing across from Lonza with 23,000 sf along with a couple of smaller units such as a 3,400 sf space. The great rates are $16.50 NNN.
Caitlin Burke with CBRE has a group that is looking for their 5th restaurant location and are hoping to locate in Newburyport or Amesbury. Ideally they would find an existing restaurant site with all the hoods and kitchen extant.
Jay Lee with Berkshire Hathaway has a three bank sites for all the bankers to plunk all their cash. In Nashua there are 42,000 cars per day; in Londonderry, 26,000 cars per day; and in Salem, New Hampshire 40,000 cars per day. The locations are end caps and pad sites with drive ups.
Steve Mangekian with Alpha Inspections is going to sponsor some events.
Petie Cummins with Alpha Inspections is going to take a crack at doing these minutes for the next three months and maybe more.
Joe Friedman with Brooks Properties has commercial space offerings along the I-93 corridor and at Brookstone Park in Derry on 111.
Kathy MacKinnon with Masiello has an industrial/warehouse offering with 18 foot clear height covering 38,000 sf in Hudson that is going for 1.9M or $5.50 psf NNN
Ethan Ash with KW Commercial has a pad site in front of Frisbie Memorial Hospital in Rochester with 18,000 cars per day and maybe a future light. This 3,000 sf pad site has 34 parking spots.
Erin Pike with Saint Germain Collins meets your closing dates with environmental info.
Dan Stout with Chapman Construction has a lot on the plate this Fall, but can work you into their schedule this Winter. They currently are building in Downtown Portsmouth and are assisting Madbury with a new library.
Kevin Raymond with Optima Bank says the rates are slowly rising but they are more hospitable than historic rates. Optima is also hospitable to hospitality sector lending.
Ray Dugdale with Colliers Financial works with borrowers to create your loan package for competitive bidding on your loan from banks and other resources. They are allowed now to compensate for those you send their way and do so at the rate of 20% of their 1% which is of note.
Travis Burrows with WS Development has 33,000 sf in Gilford at the Walmart Plaza that can be broken down or leased altogether. They can be creative. Also, in West Lebanon where Petco is opening this week, WS has a former Sears spot that entails 18,000 sf and can be subdivided or you can lease the whole lot.
Lindsay Desmettre with WS Development has the former Staples at Lafayette Crossing in North Hampton. This 18,000 sf pad site is better to be leased as one enchilada. In Amherst, WS has 6,500 sf at the Meadowbrook Crossing on 101-A.
Bryan Wright with Colliers has a hunt for a full service group that will probably land with a high 20’s lease in the Nashua to Amherst area.
Kyle Kadish with Advantage Wealth recently enlisted some other parts of the tax code, similar to 1031 exchanges, for a build to suit that worked well.
Marie Bodi with CP Property Management is a 3rd party manager who enjoys taking on your headaches and buys a lot of Bayer. Recently, a client bought three properties in Manchester that were quite the scene. No leases were in place, the payments that were coming in were weeks late, and tenants had to be evicted. CP has been all over this and are rectifying the nightmare quickly. One of Marie’s long term clients is James Kenny.
Joe Campbell with North Branch says they are the largest CM in New Hampshire with 70 employees pursuing projects from 3M to 50M.
Wayne Semprini with Olde Port Properties has 2,500 sf on State Street that will probably wind up commercial, but could be residential.
Andy Fleisher with NAI Norwood has 40 Middle Street where the gas tanks have left as has the repair business and Elvis. This site that appears to be able to support one or two residences by right and might be able to get to 4 residences with some board dances. 490K says it’s yours.
Kate Bristol with NewVo Interiors has a lot of price points and affordable options and appreciates this strong referral network.
Heather Rowan with Kimball has joined Kimball recently as a manufacturer’s rep covering Maine, New Hampshire, and Vermont. One of their new lines that is creating a lot of buzz is modular cabinetry that serves up a 7 year write off instead of 30 year. This is gaining popularity in health care, multi-family, and office environments. No blocking is required in the walls.
Bill Jean with Fulcrum says they have been at it for 30 years with a wide range of project types and like to help you figure your construction budgets early on.
Matt Bacon with NAI Norwood has a former branch bank ready to go in Penacook with teller windows for drive up you can move right into for 15 dollars psf NNN. Matt also has 4,500 sf, 7,500 sf, and 12,000 sf at Granite Town Plaza in Milford, New Hampshire for $7 psf NNN. The facade has been spruced up and there is a new roof. A pad is available for your 3,000 to 5,000 sf restaurant and the parking lot is getting spiffed up too.
Dylan Cruess with TFM/MSC has 70 people in their Portsmouth and Bedford offices. They have assisted SNHU with a variety of projects.
Jeff Hiatt with Performance Business Solutions serves on the Newington Economic Development Committee and let us know of a retail open house event at the Stone Face Brewery on Thursday evening, 18 October 2018 from 5:00 pm to 7:00 pm.
Mike Farinola with New Hampshire Commercial Appraisers appraises in New Hampshire and York County, Maine for commercial.
Mary Ellen Humphrey with Durham Economic Development is a friend of developers and brokers assisting with board navigation and discovering off market beauties.
Joe Cunningham with Cunningham Associates was working with a transaction of David Choate’s where the seller refused to share what insurance losses had occurred at the property. This stunt made it impossible for the buyer to obtain a reasonable insurance quote for the asset they were about to purchase. Eventually the seller backed down and shared the information, but David wanted to alert all to this scenario so they can be sure to ask for information on any insurance losses up front during the period of discovery.
Dan Barufaldi with DBIDA says they have received awards for an age friendly community by AARP and World Health. They actively ask department heads what they are doing for all age groups.
Bob Viel with Bean Group has a rare property on Dover Point where there are two homes extant and an investor could make good income as is on this offering 6 minutes from Portsmouth. City water and sewer are on site and for you and this is 554.9K.
Al Silva with Silva Graphics can do a wide variety of interior and exterior signs.
Dave Garvey with KW Commercial has two land listings. In Epping, Dave has a back lot of 75 acres off of Diamond Hill Road for 90K. And along 107 at Jenness Pond with 1000’ of pond frontage, is a residentially zoned lot for 225K.
Wendy Rayno with Northway Bank started on Monday and so far so good.
Barry Leonard with Northway Bank let us know that they offer 10 year fixed rates to help with the upwardly mobile interest rates.
Jon Shapleigh with Northway Bank had a trivia question about Babe Ruth being traded to help fund the Broadway play, No No Nannette.
David Choate with Colliers has a sublease at 230 Commerce Way for 18 dollars psf plus utilities. There are a couple of offices, a conference room, and a break room with this two year opportunity that can come furnished or unfurnished.
Haves & Wants
Bob Marchewka with One Commercial has opportunities at Pointe Place in Dover from 1,200 sf to 4,000 sf.
Scott Forte with Century 21 is looking for a good hard money lender and some industrial land or buildings on Route 4 in Berwick.
Ryan Theil with A1 Exterminators would love to contact Bluebird Storage not knowing Bryan Dubois next to him is the contact. What a networking event!
Bryan Dubois with Dubois Associates can also appraise to your praise.
Russ Doyle with Two International Group has the former Molly Malone’s first floor finally available. At this 177 State Street, Portsmouth location they have two 850 sf suites for small retail or office on the first floor ready to go. Upstairs is looking up to be available soon.
Caitlin Burke with CBRE has a mixed use hunt for 2,000 to 3,000 sf needed for the owner up to 1.2M in Portsmouth. They are a landlord elsewhere so they can manage the tenants in the balance of the building.
Abby Morneualt with USB and UNH enjoyed being here.
Jay Lee with Berkshire Hathaway has 11,200 sf in Nashua and 22,000 sf in Salem with lease rates from 30 to 50 dollars psf.
Steve Mangekian with Alpha Inspections covers all of New England with commercial inspections. On the residential side, they cover York County and all of New Hampshire.
Joe Friedman with Brooks Properties helps you celebrate holiday parties with your own function or with their “More the Merrier” event with offices combining for festive festivities.
Kathy MacKinnon with Masiello has a new retail listing in Milford with two drive in doors. This is a clean listing at the Milford Oval with 14,000 cars per day and 21 parking spots worth their weight in gold and you can call it yours for 315K.
Ethan Ash with KW Commercial has an offering that now includes the real estate with an out building, two pad sites, and 50 units along with some storage. The owner could do some financing.
Vincent Chestnut with Alpha Locksmiths can help with commercial, residential, and your house.
Dan Stout with Chapman Construction builds corporate, educational, and non-profit among others. Dan saw an opinion piece opining that construction costs are up 5.63% since January.
Kevin Raymond with Optima Bank lends to non-profits too.
Ray Dugdale with Colliers Financial helps place your loans optimally and referral fees are not just rolled to brokers.
Travis Burrows with WS Development can be creative and have dropped some industrial into the back of some retail sites.
Lindsay Desmettre with WS Development has 1,600 sf at North Hampton Crossing with a grease trap and hood going for $15 psf NNN now.
Bryan Wright with Colliers has small to large spots at the Waterstone owned Seacoast Shopping Plaza with flexible rates bending from $15 psf NNN>
Kyle Kadish with Advantage Wealth shared that Jeff Boufford texted in to chide all who have not joined NHCIBOR to raise up off their behinds and get ahead as one of us.
Marie Bodi with CP Property Management had a gleam in her eye about keeping glass clean.
Joe Campbell with North Branch is working on a few condos near Phillips Exeter.
Andy Fleisher with NAI Norwood has 3.8 acres with some wetlands that will support a 4,700 sf industrial building that was going for 129K and is down to 80K and dropping.
Kate Bristol with NewVo Interiors can help with space planning and furniture.
Heather Rowan with Kimball says their modular millwork that brings the faster depreciation also brings appreciation in costing 2/3 less than standard millwork. Heather thanked Vincent Chestnut for securing a situation.
Bill Jean with Fulcrum shared that the Robbins Auto former site is beyond the hiccup of discovered tanks. In Newburyport, they have a mixed use development with a hotel component that seeks a restauranteur. It is not quite walking distance to the center but is on the trail.
Matt Bacon with NAI Norwood is on the board of Fellowship Housing Opportunities Inc. (fellowshiphousing.org) and would love to add you to their email newsletter. Fellowship Housing Opportunities, Inc. (Fellowship Housing) is an organization dedicated to promoting recovery from mental illness as a provider of high-quality, affordable housing, and client-centered behavioral services.
Dylan Cruess with TFM/MSC thanked Joe Friedman for a nice time at Brookstone Park and NewVo for good furniture.
Mary Ellen Humphrey with Durham Economic Development thanked Vincent Chestnut for helping with a lock.
Joe Cunningham with Cunningham Associates provides insurance from Portsmouth.
Dan Barufaldi with DBIDA distributed his monthly report.
David Choate with Colliers is looking for 1,000 sf for a yoga studio with wood floors preferred along with some parking and a good visible location in Portsmouth, Kittery or other abutting towns.
Note from Tony Fallon Architecture: These Minutes are what I understand people to have said at this meeting. Please contact people referenced to verify and clarify.
Next Meeting is 8:30 – 9:45 am on the third Friday, 19 October 2018
In the Third Floor Conference Room of Two International Group’s Building at
One New Hampshire Avenue, Portsmouth, New Hampshire, Pease International Tradeport.
Alpha Inspections will be the breakfast sponsor.