15 May 2015
New Hampshire Commercial Investment Board of Realtors
Minutes of Seacoast Marketing Session
Brian Tufts and Jonathan Shapleigh with Bank of New Hampshire were the breakfast sponsors. Jon shared that the yummy food served was by Sally Cobb of Mezzanine Catering in Dover. Bank of New Hampshire is a full service, statewide bank with robust, state of the art technology capabilities. They are facile with commercial real estate transactions, wealth management, acquisitions, working capital, hospitality, treasury, cash management, ACH Collections, fraud detection, sweeps, and term & equipment loans. They can handle very sizable companies and all decisions are made responsibly and responsively right here in Laconia, New Hampshire. Jon had some golf ball giveaways and the first winning answer was the name of Bill Belichick’s boat in Nantucket: V Rings.
Tony Fallon with Tony Fallon Architecture announced multimedia day and passed around an iPad with a movie of the interior of Carriage Hill Assisted Living in Madbury, New Hampshire. This project is under construction and the owners are signing up customers. Tony builds a digital model for all projects and the owner’s favorite part of their great new website are the four movies Tony created for them.
Dave Garvey with KW Commercial has a cash buyer looking for multi-families 100 units and up in New Hampshire only.
Michael J. Farinola, Certified General Appraiser Licensed in New Hampshire & Maine shared that the turnaround time for an appraisal is 4 to 5 weeks currently.
Tom House with THA Architects has a tenant fit up in Littleton, New Hampshire and works on a variety of types of projects.
Andy Ward with Colliers has a couple of investors looking for multi-tenant buildings within an easy drive to Portsmouth that have a 20 year entry to exit picture in the 4 million dollar range.
Tia Hagan with Regus has office space for rent that is move in ready as well as virtual office offerings at their new location at 170 Commerce Way that will be ready June 15th. They are leasing up nicely and the target is companies in the 1 to 30 person range.
Don Marshall with Marshall Associates has a party with a need for short term lease of 30,000 sf of warehouse space with lots of loading docks in the greater Portsmouth area.
Rick Mulvee with Tower Associates has patient money looking for 2 to 5 million dollar single or multi-tenant opportunities in New Hampshire only, not Maine.
Vincent Chestnut with Alpha Locksmith brings professional security to your doors.
Al Silva with Silva Graphics can sell you bronze plaques for buildings and colored logos to go.
Mary Ellen Humphrey with Durham Economic Development would love to help you or your customer with buying and selling in Durham. She would be happy to help you through the hoops to land or toss a listing up on their website for take off.
Jerry Bazata with Newburyport 5 Cents Savings Bank cheerfully shared that the Yoken’s Plaza sign is up in front of their bank in Portsmouth where the world famous restaurant and conference center used to be. The sign is the resorted original sign with moving tale and spouting light “water.”
Corey Colwell with MSC & TFMoran noted that they enjoyed working with the developers at that plaza and did the civil engineering for the Comfort Inn and others there.
Larry Zellers with Portsmouth Computer & Copy operates from Bangor to Portland to Portsmouth offering computer and copier sales as well as services.
Kyung Kim with Howe, Riley, and Howe shared that they are expanding from Manchester to Portsmouth and will be opening an office at Regus in June.
Lynne Bagby with Asset Preservation is celebrating their 25th anniversary and will happily help with any type of 1031 exchange to serve you up some change.
Tony Donovan with KW Commercial works a lot in Portland and Portsmouth. He has a multi-family buyer looking for a 1 to 10 million dollar buy and who has 1 to 2 million dollars in cash. They will qualify pretty quickly for the loan and the location sought is from Brunswick to Portland to Saco. After listing the Weathervane in Bedford, New Hampshire, Tony benefited from a connection at this meeting and had the property under contract in less than 30 days after Bill Jean hooked him up with a buyer. Tony thanked Bill.
Susan Scanlon with Commercial Properties has a buyer paying cash for pad sites in New Hampshire that will support 10,000 to 15,000 sf buildings. Salem is the target location and retail is the target type. They are not interested in leasing, just buying.
Gerry Mylroie with KW Commercial has a sake brewer that is looking for investors.
David Hodgdon with PCG and ClicknFix shared the festivity itinerary for celebrating their 20th anniversary.
Beth Chea with Wells Fargo serves up jingle in New England.
Sheryl Watson with CTI helps with voice, data, wifi, and cabling in Maine, New Hampshire, and Massachusetts.
Jenn Marsh with Rochester Economic Development shared some doings at the Rochester Fair Grounds including the Phantom Gourmet, Barbeques, and Music.
Ute Luxem with Profile Bank has money to lend if you have money to get.
Dan Barufaldi with DBIDA introduced Justin Avery with New Hampshire Department of Resources and Economic Development (NHDRED). Dan also shared that the former McIntosh College site redevelopment is now under way for approvals with high end assisted living, medical practices, hotel, and a bank at Exit 8 off of the Spaulding Turnpike.
Justin Avery with NHDRED helps with retention and recruiting and would love for you to call for him to help. Justin had been the branch manager for Profile Bank in Alton, New Hampshire. Editor’s note: Tony Fallon has known Justin for a number of years and finds him top shelf. Good score for New Hampshire.
Anthony Avrutine with Remax Bayside has a 1031 buyer looking for a 900,000 to 1 million dollar opportunity that is a good, long term industrial or warehouse tenant. Anthony introduced Russ Poirier.
Russ Poirier with Remax Bayside joined us for the first time. Russ keeps trying to retire but opportunities keep dropping in his lap.
Pam Lynch with NAI Norwood has a buyer looking to buy a business and take it to the next level. They are not interested in food or construction and look to spend up to 5 million dollars.
Bill Jean with Fulcrum Associates in Amherst, New Hampshire provides construction management for Southern Maine, Northern Massachusetts, and all of New Hampshire from tenant improvement to ground up.
Marie Bodi with CP Management in Exeter, New Hampshire is your favorite 3rd party property manager.
David Choate with Colliers has a buyer looking for up to a 10 million buy in this broader geographic area with a realistic cap rate. Industrial or office uses are preferred.
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 annual “more world famous than Yoken’s” barbecue at TF Moran in Bedford, New Hampshire will be held on 18 June from 5:00 until who knows when. A new member orientation will be at TF Moran from 3:00 to 5:00 with Marie Bodi at the front of the class. Also come see the Realtor and Affiliate of the Year awards presented at the picnic.
A quarterly meeting will occur on 26 June 2015 with a topic TBD. The committee is looking for ideas for topics for future meetings.
All the slots for breakfast sponsorship are filled for this year and next year there are 8 slots open.
Tony Fallon with Tony Fallon Architecture continued with multimedia day and passed around a Spotlight front page rendering of the building he designed on Commercial Alley that houses CAVA restaurant. Tony helped with the restaurant layout and suggested and sourced the glass floors that bring light to the Basement portion of the restaurant and retail space.
Jon Shapleigh with Bank of New Hampshire gave away some more goodies to the first person to guess the year the Patriots were founded. Rick Mulvee had the right answer of 1960.
Ralph Pope with Coldwell Banker has a new small office condo listing in the Rochester Professional Park. This 1250 sf has a small office and some exam rooms and can be yours for the sweet low price of 80 thousand dollars. Ralph also has a hotel and a former bank in Somersworth with the former going for 150 thousand dollars.
Dave Garvey with KW Commercial has 1162 sf at 9 Madbury Road in Durham, New Hampshire which has a large traffic count and will be available the end of August. Dave also has a true 10 cap campground going for 1.25 million dollars in Lee, New Hampshire.
Tom House with THA Architects also does master planning and can help with planning board appearances.
Russ Doyle with Two International Group has 14,132 sf of furnished office space at 1 New Hampshire Avenue that is going for 20 dollars psf gross and was built in 2006. This is ready for you to move right in.
Laura Farago with Colliers has 2400 sf of office on a 4th floor at 24 Front Street in Exeter going for 3800 sf per month gross that is going to become available in August. Every office has a window to historic Exeter.
Tia Hagan with Regus said they are good at helping companies who are not ready to pick a long term space or are waiting for finance approval and need something for 1 to 36 months. You can move right in!
Don Marshall with Marshall Associates is a general business broker with abundant experience and opportunities.
Vince Chestnut with Alpha Locksmith finds a lot of residential grade locks on back doors that have to be replaced since they are too flimsy.
Al Silva with Silva Graphics knows somebody looking for a downtown office space.
Mary Ellen Humphrey with Durham Economic Development maintains a list of available spaces in Durham. If you have a listing in Durham, get listed!
John Perrow with KW has a listing in Bow, New Hampshire with 7.5 acres and 3 buildings, one of which is a 3 family and the others are commercial/industrial of 4000 sf and 5000 sf. There is also room for yard storage and there is a 12 year history of solid rentals. Buy this bounty for 800 thousand dollars.
Jerry Bazata with Newburyport 5 Cents Savings Bank shared that the market is heating up and so they are offering a 48 hour turnaround on loan commitments for deals up to three million dollars of loan value with the caveat of the appraisals coming in appropriately.
Corey Colwell with MSC and TF Moran invited one, all, and friends to the colorful and cheerful Annual NHCIBOR BBQ hosted by TF Moran at their Bedford office. Bets were made as to how late the party would go and a request was made for buses and rooms at inns nearby. Come party!
Larry Zellers with Portsmouth Computer & Copy is running a 60 month zero percent interest deal and they will buy back your old clunky copiers to boot.
Kyung Kim with Howe, Riley, and Howe is not getting into brokerage but does have a client with 30,000 sf of available space in Antrim, New Hampshire.
Lynne Bagby with Asset Preservation says that investors are setting their sights on Southern New Hampshire since they are getting out bid in overbidding in Boston.
Tony Donovan with KW Commercial has a great deal on a 24 room hotel at Boothbay Harbor, Maine that is mostly seasonal, has a very motivated seller, serves up a strong cap rate, has solid financials, and is going for a bargain at 800 thousand dollars.
Susan Scanlon with Commercial Properties offered up an offering of a new pad site at the Maine Mall behind Starbucks and parallel to the Cracker Barrel that should fit an 11,000 to 15,000 sf building that might be good as office or medical. Visibility is enormous with I-95 being right there and the arrangement here is a 140,000 dollar per year land lease. There are not a lot of lots like these left in Portland.
David Hodgdon with PCG and ClicknFix parlayed the party theme into inviting one and all to their 20th anniversary celebration on Thursday 28 May 2015 that will blend into a Portsmouth Chamber of Commerce Business After Hours festivity. Blue Mermaid is doing the catering and there will be 5,000 dollars worth of give aways along with mini seminars. Dave opined that his party will last later than Corey’s.
Christine Soutter with City of Somersworth Economic Development shared that what Ralph served up is a perfect 79e tax freeze opportunity where improved properties keep their pre-improved valuation for property tax purposes for 7 years or so. Christine also touted the various regional development corporations that help with start-ups and things more of a challenge to finance as well as brownfield cleansing.
Beth Chea with Wells Fargo says rates are low on the SBA ticker.
Sheryl Watson with CTI voiced that she can help with routing and running routes for your commercial technology bits, bytes, and voice packets.
Jenn Marsh with Rochester Economic Development says we have all heard that Rochester is growing with one spot being the new Granite Ridge Plaza. Karen Pollard is off to the RECon in Las Vegas, the global real estate convention.
Ute Luxem with Profile Bank addressed a question of David Choate’s regarding people borrowing to get out of an SBA loan. Ute said this might make sense towards the end of an older note that was for a higher interest rate than is now available.
Dan Barufaldi with DBIDA has a group actively pursuing bringing back the Strand Theater to its original historic look and use. The only thing not quite totally original is that the Marquee will be LED powered. This same group redid a similar facility in Brunswick, Maine.
Justin Avery with NHDRED announced an export conference on 10 June 2015 from 4:00 to 8:00 at the McAulife Center in Concord that is targeted for defense and aerospace companies. This is shaping up to be a great event and the keynote speaker is someone from BAE.
Anthony Avrutine with Remax Bayside kept things flying with an offering near the Laconia Airport across the street from Paugus Bay. Anthony thinks this could be a condo opportunity too. It currently has a profitable 100 to 125 thousand dollar cash flow and they are looking to get a good buyer.
Russ Poirier with Remax Bayside has a significant offering at Weirs Beach in Laconia of 13 acres that was a former drive in movie theater. Russ painted the vibrant picture of Weirs Beach with the largest beach on Lake Winnipesaukee, TIFF & fast permitting support from Laconia, relaxed zoning, boardwalk, tourist train, and the discovery of Weirs Beach by Southworth Development of Newton, Massachusetts. Southworth has made a substantial development there and have more on the way.
Pam Lynch with NAI Norwood has a new listing on 101A in Amherst that is one of the last few offerings not redeveloped there. There used to be a real estate office on these .6 acres and it would be a good bank or insurance agency or about anything but a gas station, which is excluded by zoning. There are 27,000 cars per day passing by.
Joe Friedman with Brooks Properties has a variety of properties on the 111 and I-93 corridors. Joe welcomes prospective tenants and could offer up buildings for sale in the 4,000, 18,000, 30,000, and 50,000 sf ranges.
Mark Sullivan with Seacoast Asset Management can help with 1031 exchanges and arrange for property managers for mailbox landlords.
Bill Jean with Fulcrum Associates is happy to help early on with projects. On N Street at Hampton Beach, they worked from the start of a 20 unit condo and collaborated with the designers and developer to get things approved and on budget.
Marie Bodi with CP Management is adding 3 medical properties in Concord and Epsom to their portfolio.
David Choate with Colliers highlighted the huge, brightly lit sign in front of Target in Somersworth and the building it goes with. These 5,000 sf are down a 100 thousand dollars to 1.6 million at the moment.
Haves and Wants
Tony Fallon with Tony Fallon Architecture is working on a Mexican takeout going in at the Surf. The owner has also tied up the adjacent vacant lot of the former Happy Hampton and is having Tony look at building options there.
Jonathan Shapleigh with Bank of New Hampshire is looking for commercial lenders.
Brian Tufts with Bank of New Hampshire says what Jonathan says.
Ralph Pope with Coldwell Banker has a price reduction at 200 Drakeside Rd. in Hampton from $550,000-$525,000. There are couple of buildings with retail on the first and two residences as well as the Butler building with the dock in the door. In front are 3.89 acres and two other lots outback totaling 6.1 acres with good visibility going for 300,000 and $249,000.
David Choate with Colliers mentioned that the Verizon offering in Somersworth finally has a buyer which is the Key Auto Group which is going to do some auto refinishing there.
Tom House with the THA Architects works on a lot of apartment buildings, retirement facilities, and condos.
Andy Ward with Colliers announced an economic development seminar on June 3 at 7:30 at 55 Main St. In Newmarket. Andy also has the former Fernald’s Lumber property offering that is 2.5 miles from Route 4, has lots of lay down area, is close to Portsmouth and would be great for anybody in the wind industry. This could be retail, wholesale or distribution. Also, landscaping would work there well too. You can buy it all for $725,000 dollars or about $15.20 psf for 40,000 ft.² square feet of buildings.
Laura Farago with Colliers has space at 230 Lafayette Rd. going for $1200 dollars per month plus utilities. This is a split entry with easy access.
Tia Hagan with Regus shared that Rick Mulvee is a gold card member of theirs and likes this service very much. It allows Rick to hop in at any Regis office around the around the world as well as take advantage of airport lounges and discounts at Staples which are part of membership with Regus. Reimbursement to brokers is a 10% fee that is quickly paid by wire transfer for about an hour’s worth of work.
Don Marshall with Marshall Associates has a new listing coming on that is a distressed business that doesn’t need to be. They have to be out in 6 months and do 3 million dollars gross per year with a net cash flow of 300 thousand dollars and a business sale price of 300 thousand dollars which obviously will pay for itself in the first year. Anyone with some spare warehouse space will do well with this one.
Rick Mulvee with Tower Associates has a retail 35 by 100 foot space opening up that is currently a rental center.
Vince Chestnut with Alpha Locksmith has 3 lines of secure keys that can only be duplicated with authorization of the key originator.
Al Silva with Silva Graphics says he can help with trade show set ups.
Mary Ellen Humphrey with Durham Economic Development said they received 6 proposals for the ATO site in the heart of the downtown business loop. There are 3 finalists with one having Dave Garvey on its team.
Corey Colwell with MSC and TF Moran is happy to work with you on development sites and was pleased to share the one meeting approval of 40,000 sf of new medical near the new Army Reserve Center building on Lafayette Road.
Kyung Kim with Howe, Riley, and Howe can help if a bank is requiring audited statements as part of a loan approval.
Lynne Bagby with Asset Preservation shared that there can be some extensions for 1031 applications. 360 days is possible with an extension.
Tony Donovan with KW Commercial talked about how a lot of movie theaters took a financial hit when movies went to digital as it cost about 80 thousand dollars per theater. Tony also shared an offering in Bethel, Maine that is 14,000 sf with 10,000 sf of that being Class A office space. This location is located near the train stop in Bethel and there is a possibility of a 6 lot subdivision. 1.75 million dollars buys it all brightly.
Susan Scanlon with Commercial Properties is on the hunt on Route 125 in Plaistow for a national tenant that needs 15,000 sf to 20,000 sf and a great traffic count. Maybe a used car dealer might be the ticket.
Gerry Mylroie with KW Commercial is the former town planner in Kittery where he helped attract motels, hotels, and restaurants.
David Hodgdon with PCG and ClicknFix said their residential side, ClickNFix is going gangbusters. David would be happy to help anyone looking for Sonos solutions for their sound and can help on the business side with offices from 5 to 100 people.
Christine Soutter with City of Somersworth Economic Development shared that Scott Johnson of Certified Retail Solutions in Dover won the NH SBA Small Business Person of the Year award.
Beth Chea with Wells Fargo shared an unusual, but real, SBA loan where a franchisee used the money to improve a pool.
Sheryl Watson with CTI can help with voice, data, and cabling.
Dan Barufaldi with DBIDA noted that the small business award winner Christine spoke of, Scott Johnson, is an advisor for bizedconnect which connects businesses and schools helping the graduates be of greater value and wage for prospective employers. Scott has been a great help with that. Scott’s company, Certified Retail Solutions in Dover, is one of the fastest growing companies in Enterprise Park. They are just now expanding into an adjacent building of about the same size as their current one.
Justin Avery with NNDRED will cheerfully pave the way for you to New Hampshire as well as seek to keep you a happy camper.
Anthony Avrutine with Remax Bayside just sold a beautiful showroom on Union Avenue and it was immediately leased the same day. Anthony would be happy to do double deals on all transactions.
Russ Poirier with Remax Bayside has 25,000 sf in 3 stories that is good for high tech available.
Pam Lynch with NAI Norwood has several confidential restaurant listings from sandwich counters to breakfast bars from Nashua to the Seacoast.
Joe Friedman with Brooks Properties featured Brookstone Park in the heart of Rockingham County on Route 111 with its par 3 nine hole golf course and function facility along with a miniature golf set up as well as lots of office space. This unique campus can be a great setting for family reunions, anniversaries, and weddings from 20 to 250 people. It is a good venue with good food to boot.
Mark Sullivan with Seacoast Asset Management thanked David Choate for a quick helping hand with a quirky problem while Mark was out of the country in St. Croix.
Bill Jean with Fulcrum Associates answered a pricing query. The 20 condos on N Street at Hampton Beach are being built for 220 thousand dollars each. They are two bedroom and so have two parking spaces per unit on site.
Marie Bodi with CPManagement manages to manage properties properly.
David Choate with Colliers has a financial services office looking to plunk in Portsmouth to the tune of 1500 to 2000 sf. They are not looking for a retail setting but the more traditional office setting.
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 Friday 19 June 2015 at
One New Hampshire Avenue, Third Floor Conference Room
Pease International Tradeport
The sponsor will be Kennebunk Savings Bank