16 September 2016
New Hampshire Commercial Investment Board of Realtors
Minutes of Seacoast Marketing Session.
Jon Shapleigh with Bank of New Hampshire was the breakfast sponsor with Mezzanine Catering serving the great tastes. Jon is one of 14 commercial lenders with Bank of New Hampshire and teams up with Wendy Rayno to cover the Seacoast. Bank of New Hampshire has 24 offices statewide with the recent acquisition of Community Guaranty Savings in the Plymouth area. Bank of New Hampshire is flush with 1.4 billion dollars in assets and is the largest mutual bank headquartered in New Hampshire. They can handle loans up to 18 million dollars in house and partner on loans above. The lending Bank of New Hampshire provides spans term, equipment, working capital, line of credit, and commercial real estate. The latter takes up 60% of their lending. Jon started with the bank right out of college and is able to approve loans on his own up to 1.5 million. The loans above this threshold are reviewed in person in Laconia with their senior loan officers. Bank of New Hampshire is large yet nimble and quick.
Tony Fallon with Tony Fallon Architecture made lemonade out of lemons and turned a medical trip to Kansas into a road trip to see the country including stops in Nashville and Chicago. The Chicago visit was extended a few days to facilitate a meeting there with new clients who chose Tony enroute to design a lakefront home in Tuftonboro. In Kansas, Tony & Erin met Dorothy who is now waiting tables at Shredders, a great BBQ joint in Parsons, after a career driving trucks.
Jeff Boufford with Boyd & Boufford Insurance is facile with commercial property insurance including strip malls, self storage, industrial, and condos.
Bill Jean with Fulcrum Associates in Amherst, New Hampshire provides Construction Management services in all of New Hampshire and parts of Massachusetts and Maine including tenant improvements and ground up development.
Nate Cote with SW Cole provides environmental engineering and materials testing services. They just joined up as affiliate NHCIBOR members.
Chris Welch with Regus noted they have 3000 offices worldwide and can handle offices from 1 to 20 people at their Portsmouth location.
Tia Hagan with Regus brings commercial referrals back to the brokers once clients outgrow Regus. Their agreement letter is a simple one page format that is easy for all.
Nancy Carmer with Portsmouth Economic Development helps companies locate and expand in Portsmouth. Nancy invited GSA representatives who are seeking new offices for the federal agencies currently housed in the Thomas J. McIntyre Federal Building on Daniel Street in anticipation of the redevelopment of that site.
Mike Strobel with GSA is the Deputy Director of Leasing handling all of the leases for those agencies that will be rehoused from the McIntyre Building. The annual value of GSA leases across New England is 138 million dollars.
Shayne Doherty with GSA is also helping relocate the federal agencies from the McIntyre Building.
Pat McDermott with Hinckley Allen spoke about the best practices forum for towns and cities that will be held on Thursday the 27th of October at Brookstone Park. There will be a panel of speakers talking about Development, Permitting, and Board Reviews.
Jay Lee with NAI Norwood profiled his Trump tie that is as good as cash for buying properties and sends his regards to Andre.
Scott Kingsley with Primary Bank in Bedford lends in all types of commercial scenarios. You name it, they do it.
Ralph Pope with Coldwell Banker is looking for a mixed use project in Southern Maine and Southern New Hampshire. Any price point that makes sense is OK and they will also look at multi-families.
Michael J. Farinola, Certified General Appraiser Licensed in New Hampshire & Maine covers the Southern parts of both states.
Sandy Martin with Martin Family Enterprises has been accounting for 37 years and counting. They can act as your treasury department and they have an office building on Water Street in Exeter with some availabilities.
Brian Spielvogel with KW Commercial just joined Gerry O’Connell on the commercial side.
Scott Forte with Berkshire Hathaway Verani is looking in Maine, New Hampshire, and Massachusetts for climate controlled self-storage that has a good traffic count. They can work with vacant land or renovate and would like to be within 60 miles of Portsmouth.
Don Marshall with Marshall Associates is a general business broker. He happily takes on the headaches of transition and turns them to fun.
Jeff Brown with TD Bank is a portable banker who can travel with your customers to other states across the United States of America. Take Jeff with you.
Vince Chestnut with Alpha Locksmith responds at all hours.
Chris Ratte with SK Lawyers helps business buy businesses and real estate.
Peter Mikolajczuk with LighTec helps with energy assessments for building and administers some grants for the utilities like Eversource. They can look at HVAC and lighting for goodly savings.
Tony Donovan with KW Commercial has a buyer with 400 thousand dollars in cash that is willing to leverage up to 1.2 million dollars and is looking for something within 40 miles of Haverhill, Massachusetts.
Justin Mikolyski with Creative Office Pavilion helps you plan, design, and furnish work spaces well.
Gerry Mylroie with KW Commercial is looking for self-storage buildings or land for 1 or 2 story storage or 5 or 6 acres of land. They are looking for climate controlled from Manchester to the Seacoast. Gerry is also looking for mobile home parks or land for the same.
Sheryl Watson with CTI communicated that she helps with all things communicative like phone, voice, WIFI, and cabling and is now tied in with Fairpoint.
Erin Pike with Saint Germain Collins can help with phase one environmental studies along with other phases relevant to real estate.
Kristie Jorgensen with Coldwell Banker has a 687 sf condo office at 2425 Lafayette Road for $550 per month and a 1350 sf for $1125 per month or $1600 per month for both. They could also be purchased along with a third office.
Erik Crisman with Brookstone Builders offers CM, General Construction, and Design/Build from their Manchester offices.
Hank Beresin with First Street Brokers works with businesses to sell, valuate, and market their businesses in the Maine, New Hampshire, and Massachusetts.
Mark Sullivan with Seacoast Asset Management said if your top clients aren’t using a fiduciary for their investment management needs, they are doing business with a seller’s broker, not a buyer’s broker. The difference can be tens or even hundreds of thousands of dollars for the client without a single additional penny required. Suggesting a fiduciary for your client could go a long way to reinforce or elevate your status as a trusted resource, not only for commercial real estate but beyond as well.
Rick Mulvee with Tower Associates has a buyer lurking in the shadows that loves smelly deals with hair on them. They are an all cash buyer that are very patient money who view 7 or 10 year payouts as fine as long as they can see the exit. Big, old, empty buildings that are moldy, tumbling, pealing, leaking, listing, and/or with asbestos frosting are very attractive to them.
Greg Schena with Masiello Commercial has a medical group looking in Portsmouth for 2500 sf and prefers to lease.
Peter Gluckler with Masiello has a property for sale that might work for storage.
Dylan Cruess with TF Moran/MSC is part of a 61 person Civil Engineering, Land Surveying, and Landscape Architecture firm in Bedford and Portsmouth, New Hampshire. They recently worked on the Bedford Mall Whole Foods.
Matt Bacon with NAI Norwood has a couple of 1031 investors looking to place 320 thousand and 450 thousand dollars in multi-family or mixed use from Dover, Lee, & Northwood to Allenstown and Pittsfield.
Bob Viel with Remax Legacy serves in New Hampshire and Maine.
Kip Brooks with Berkley Building Company on Market Street has offices in Reading, Massachusetts too. Recent projects of theirs include British Beer Company, the BGR Bar, some apartments, and the new Bank of New Hampshire in Portsmouth. In Boston, they did a 9 story 32 unit condo near Symphony Court.
Andy Ward with Colliers has a challenging hunt on for a restaurant that needs to be in the city limits of Portsmouth, does not need a large commercial kitchen, but has lots of parking entailing 80 to 200 spaces.
Barbara Lizotte with Tobey and Merrill writes all types of lines in Maine, New Hampshire, Massachusetts, and Vermont.
Pam Lynch with NAI Norwood has an experienced restaurateur who is looking for a new restaurant opportunity anywhere in the Seacoast or Southern Maine.
Maxine Kenny with Colliers has a new client looking for 1000 sf to 1200 sf for high end high profile retail.
Nick Aube with Avery Insurance took his ear protection off which he wears so often now with the construction near his office.
Jon Shapleigh with Bank of New Hampshire is a commercial banker with a bank that provides a lot of support to non-profit organizations. They recently helped The Monarch School with their new facility.
David Choate with Colliers is looking for 1500 to 2000 sf for some therapists in Portsmouth.
The statewide NHCIBOR marketing meeting occurs on the 4th Wednesday of the month from 9:00 to 10:15 at the GMNBR training room at 318 South River Road in Bedford.
On 6 October from 5:30 to 7:30 at Fratello’s in Manchester, 155 Dow Street, NHCIBOR will have an after hours event with speaker Cami Baker who wrote Mingle to Millions sharing her wisdom about social media networking.
On the 28th of October there will be a professional development course at KW Commercial in Portsmouth.
Tony Fallon with Tony Fallon Architecture has known Kip Brooks for 15 years and recently enjoyed the great work Berkley Building and Kip did for a project at Strafford School that Tony designed. Tony enjoyed the Architecture Foundation sponsored tours in Chicago.
Jeff Boufford with Boyd & Boufford has rocketed to the top of NHCIBOR. On the same day he joined the membership committee, Andre Tremblay resigned and appointed Jeff to be the chair. Matt Bacon is the other member of this two person strong committee. That’s committee commitment!
Bill Jean with Fulcrum Associates is happy to help early on with budget peeks. They have done a lot of medical and multi-family.
Greg Schena with Masiello Commercial has an industrial condo in Seabrook built in 2006 with 20 foot ceilings that is large enough for an 18 wheeler to turn around in. They can break it down to 2000, 3000, 4000, or 8000 sf units.
Russ Doyle with Two International Group says that in addition to the nice high end space like this meeting room, they have some options for mixed use space at 200 International drive that would work well for back office or administrative space at a better value.
Nate Cote with SW Cole helps with materials testing and environmental. They recently helped with a warehouse in Greenland.
Chris Welch with Regus noted that they have 550 state side offices and they offer 500 dollar referral fees to non-brokers.
Tia Hagan with Regus talked up the 22nd annual Auction for Animals to be held at the Wentworth by the Sea on the 19th of November.
Nancy Carmer with Portsmouth Economic Development is jazzed about the 600 new parking spaces along with the mixed use aspects for the new parking garage at 165 Deer Street that is now progressing.
Mike Strobel with GSA is looking for new space for the FBI, IRS, and Social Security Administration. Come get your record cleared by providing some space! They pay their bills even during budget battles in Washington and seek 7 to 15 year leases which allows for a good ROI. They do have some security upgrades needed for the tenant improvements but it is reasonable. They would like to land in the central business district of Portsmouth but they might be flexible on that.
Tad Dziemian with Neighborhood Energy gains savings for natural gas and electricity. 90% of the time he can beat the utility’s price and 100% of his property owners and property manager customers are enjoying savings.
Patrick McDermott with Hinckley Allen shared that they are a regional law firm and help with real estate and land use among other things. They are rated tops in New England.
Jay Lee with NAI Norwood featured numbers 75, 85, and 95 near South Willow Street at the former Osram Sylvania plant in Manchester that have possible unit sizes from 1500 sf to 60,000 sf with rates from 6.75 to 8.5 dollars psf. One of the spots has a 6000 amp electrical service.
Scott Kingsley with Primary Bank lends dough to you in Maine, Massachusetts, and New Hampshire.
Ralph Pope with Coldwell Banker has two small businesses that are quite affordable. One is a hair dresser and the other one a beauty salon for 100 thousand and 140 thousand dollars respectively.
Michael J. Farinola, Certified General Appraiser Licensed in New Hampshire & Maine has a 5 unit for sale in Suncook, New Hampshire that has had pretty steady occupancies for the last 7 years.
Sandy Martin with Martin Family Enterprises has a small office at 127 Water Street in Exeter. He has 15 tenants and most under 1000 sf. 129 Water Street recently sold to Attorney Terrie Harman who does a lot of offer and compromise work with the IRS which may be a good synergistic opportunity with their accounting business.
Brian Spielvogel with KW Commercial has 1.9 acres and 400 feet of frontage on Exeter Road in Exeter which could be a great restaurant spot. Brian also has a plaza with an open plan going for 15.50 dollars psf and 1400 sf at 11 Maple Street in Downtown Exeter going for 285K.
Scott Forte with Berkshire Hathaway Verani has three opportunities on Great Works that are just commercial and comprise 800 and 1200 sf going for 800 and 1200 dollars per month modified gross.
Don Marshall with Marshall Associates has a lifestyle opportunity coming up near Sunday River that is a restaurant, pub, and fine residential income units. It’s yours for 899K and the profit looks like 140K.
Jeff Brown with TD Bank has lived in mobile homes and is an expert on financing mobile home parks. Jeff shared his distaste for the term cash buyer and wanted all those dodging the opportunity of leveraging, to at least stop on by for some estate management, line of credits, or treasury services.
Vince Chestnut with Alpha Locksmith noted that both buyers and lessees need keys.
Chris Ratte with SK Lawyers can help Florida snowbirds.
Rick Mulvee with Tower Associates has a new foreign investor who is looking for large timber tracts.
Peter Mikolajczuk with LighTec can help with the Eversource REGI program that includes audits on oil or propane furnaces.
Tony Donovan wth KW Commercial has a new Waterboro, Maine listing that is 20 minutes from Kennebunk. This 100 acre parcel has approvals for a 19 lot subdivision on 40 of the acres with 60 acres still under board review. There are some gravel resources here, the owner will consider lot releases, and the price is 595 thousand dollars.
Justin Mikolyski with Creative Office Pavilion talked up the After Hours NHCIBOR event at Manchester Fratello’s on the 6th of October from 5:30 to 7:30 that they are sponsoring.
Gerry Mylroie with KW Commercial has a house with two bedrooms and an 8000 sf barn on 3 levels that is now an antique business. Gerry also has a 1200 sf York Beach small storefront that is now a small restaurant.
Bill Cormier with Hourihane Cormier has 4 active listings in the heart of Rochester including Flanagan’s Irish Pub which can be scooped for 475K.
Laura Farago with Colliers has a couple of nice small offerings at 45 Allen Street in the Allen Street Industrial Park. There is 2000 sf with a large overhead door and 1000 sf of retail along with a mezzanine going for 7 dollars psf NNN. A service business would like this.
Sheryl Watson with CTI advised that the cabling and communication ordering be signed right at the beginning of a move or expansion since many of the lead times are 3 to 6 months.
Erin Pike with Saint Germain Collins says to call for environmental help.
Kristie Jorgensen with Coldwell Banker spoke again about 2425 Lafayette Road where there are 3 condos for sale or you can lease one or two.
Hank Beresin with First Street Brokers has a lucrative salon and spa in Southern New Hampshire that earns 225 thousand dollars a year and pretty much runs itself. The current owner is traveling extensively and the asking price is 1.3 million dollars.
Mark Sullivan with Seacoast Asset Management let us know about a 21st of November “Peas and Carrots” fundraiser for the food pantry.
Lee Berard with Berard Martel Architecture can assist with all types of Architecture including hospitals.
Ute Luxem with Profile Bank has money to lend in a more responsive manner with of course low, low rates.
Peter Gluckler with Masiello has 29 units in Norway, Maine 7.5 miles from the Oxford Casino going for 799K. Peter also has a seasonal food service event venue with liquor as well as entertainment licenses in York, Maine.
Dylan Cruess with TF Moran/MSC let us know they are participating in the canstruction food fundraiser where they are going to do an apple tree with a guy sleeping in it out of canned food. The cans are donated to food pantries after the creativity awards are awarded.
Matt Bacon with NAI Norwood has a small office at 10 Chestnut Road in Bedford that is a good owner occupied investment opportunity. There is some improvement potential at this lease or purchase deal off of 101 away from South River Road. Also, Matt has 13,000 sf of office that can be divided down to 4500 sf at 44 Franklin Street in Nashua with ample parking. This is attractive real estate with good numbers.
Mary Ellen Humphrey with Durham Economic Development has some available office space in Durham, but happily reports that all of the new and other retail space is 100% leased up.
Bob Viel with Remax Legacy has a brand new listing of a 12 acre development site with 400 feet on the Piscataqua River with deep water access along with city water and sewer to the site. The zoning seems pretty flexible. Also, Bob has 601 Central Avenue that is a 7.6 cap going for 839K with a two bedroom apartment and rented commercial space. At 660 Central Avenue in Dover, Bob has 1659 sf of professional office space for 159K that would be good for an attorney.
Kip Brooks with Berkley Building Company let us know that they have been up and running for 7 years with the first office in Reading, Massachusetts and that two years ago they landed in Portsmouth too. They are doing about 20 million dollars worth of work each year and it is a great company comprised of seasoned pros that have grown together. They have a lot of repeat business and focus on quality while working well with owners, architects, and users.
Wes Tator with eXp Realty has a 5 unit multi-family at 425 Middle Street in Portsmouth that was built in 1865 and comprises 5 units going for 1.375 million dollars.
Andy Ward with Colliers has listed the First Church of Christian Scientist, a Greek Revival building at 272 Rockland with a 1000 sf sanctuary and 3 floors. It will probably wind up being either another church or a single family residence and it is a 10 minute walk to downtown. The price is 885K. Andy also has three units at 170 West Road that have units from 9700 sf to 23,000 sf and this could all be contiguous. The rate is 6 dollars psf NNN.
Barbara Lizotte with Tobey and Merrill invited us to an event celebrating their relationship with the New England Patriots.
Pam Lynch with NAI Norwood has a fantastic new listing in Hampstead entailing 33,000 sf on 9.5 acres that could be medical, senior, drug rehab, craft beer, distillery, or a winery. There is an 8000 sf commercial kitchen and there has been 7 million dollars dropped into this property to date with first class everything. This centrally located asset surrounded by Interstates 495, 93, and 95 has the low low price of 2.699 million dollars. Wow.
Maxine Kenny with Colliers has a high quality listing off of Islington Street that reduced the rent to 12.75 NNN for the 4100 sf. It is one mile to Downtown and there are high ceilings, skylights, wood floors, and ample parking. Maxine is surprised this has not been snapped up.
Jon Shapleigh with Bank of New Hampshire talked up the owner occupied SBA loans that makes up 50% of the refinance notes with Bank of New Hampshire. 51% has to be owner occupied and 40% of the loan is SBA coming in now around 4% fixed.
David Choate with Colliers has the 2nd Floor of 30 Penhallow Street, the former Portsmouth Police Station, that had a snazzy updo some years ago. These 4500 sf used to be Pensco Trust and the rate is 20 dollars psf NNN. David also unveiled their offering of the SERESC Center in Bedford at 29 Commerce Way that covers 27,000 sf of space.
Haves and Wants
Tony Fallon with Tony Fallon Architecture also spent a week traveling to the Pacific Northwest for a 35th anniversary but timed all travel to the minute to take the Minutes.
Greg Schena with Masiello Commercial has a couple of 8000 sf units on Route 1 in Seabrook near Interstates 495 and 95 that are brand new and can be combined or kept separate that are for lease.
Mike Strobel with GSA works all over New England with 90% of their units being under 10,000 sf.
Tad Dziemian with Neighborhood Energy noted the delta of rates between utilities and Neighborhood Energy. You can pay 7 instead of 11 cents a KWH with Tad and 60 instead of 84 cents a therm with Tad. More than a tad!
Jay Lee with NAI Norwood has 6000 sf of office space at 23 Eastern and a full service funeral director offering at 46 Route 101-A that covers 3700 sf. Jay also has a couple of Class A office spaces.
Michael J. Farinola, Certified General Appraiser Licensed in New Hampshire & Maine talked up the Eagles Auction Veterans Count fundraiser at Service Federal Credit Union.
Sandy Martin with Martin Family Enterprises noted that their 127 Water Street offices are waterfront and they have a boat dock.
Brian Spielvogel with KW Commercial has a caterer looking for a brewery location. Something pastoral with an old house and barn would be great.
Scott Forte with Berkshire Hathaway Verani has 4 units in Newmarket for a 6 cap.
Rick Mulvee with Tower Associates has lots of office space in the Millyard with ample parking.
Peter Mikolajczuk with LighTec is an Eversource contractor and let us know about a 50% rebate coming to switch your T12 lights to LED.
Gerry Mylroie with KW Commercial has 2400 sf north of the Kittery Outlets that has a drive through.
Bill Cormier with Hourihane Cormier took us back down memory lane to the rough and tumble days of Portsmouth and compare it to the chic scene now. With that trajectory coming next to Rochester come on down and get a 1700 sf freestanding Downtown building for 159K!
Laura Farago with Colliers has 6200 sf at 53 Green Street in Portsmouth for 20 dollars psf. This contemporary space with huge windows facing the North Mill Pond is close to Downtown.
Mark Sullivan from Seacoast Asset Management with offices in this building we meet in offers the discipline and protection like a trust department as he follows the protocols mandated by his fiduciary license.
Peter Gluckler with Masiello has a convenience store and car wash in York and Eliot.
Matt Bacon with NAI Norwood has a confidential business only offering with no real estate in Merrimack and a 5 unit in Hillsborough with good cash flow.
Andy Ward with Colliers offered an update on the 2 Keewaydin Drive in Salem. There is 22,000 total square feet and in addition to the 5000 sf they were marketing, the additional 17,000 sf is now available too.
Maxine Kenny with Colliers has 2900 sf with lots of parking on the Route 1 Bypass a 1/2 mile to downtown.
Jon Shapleigh with Bank of New Hampshire appreciates the great job Mezzanine Catering does.
David Choate with Colliers has a self-storage and garage/used auto sales property at 57 Lafayette Road in North Hampton that has 300 feet of frontage on Route 1 that might work as an auto dealership. There are 31 self-storage units with excellent visibility and traffic counts. Rumor has it that Market Basket might be going in across the street.
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, 21 October 2016
In the Third Floor Conference Room of Two International Group’s Building at
One New Hampshire Avenue, Portsmouth, New Hampshire, Pease International Tradeport.
Neighborhood Energy will be the sponsor.