Statewide Marketing Session for August 2018
Submitted by Louise Norwood
The August Statewide Marketing Session was held on Wednesday, August 22nd, 2018 at the Matheson Education Suite at 166 South River Road in Bedford. Steve Jones of Building Envelope Specialists graciously sponsored the meeting with a fine array of breakfast treats. BES is a full service envelope consulting firm specializing in the analysis of exterior building facades. Their interdisciplinary firm applies extensive experience and professionalism in handling and managing exterior building envelope problems throughout the nation with sound, practical, and effective solutions. Their experience, technical excellence and integrity makes BES an outstanding and distinctive firm. BES has become the go to consultant for architects, engineers, developers and facilities managers. They handle a broad range of municipal and private projects including town halls, fire stations, businesses, educational institutions, justice facilities, libraries, churches and large residential facilities.
Dan Perakes of Building Envelope Specialist is a restoration expert in the investigation and remediation of masonry to fully make a property water repellant to the elements yet breathable. To be done properly a compactible adhesive material needs to utilized with the existing wall product. Dan pointed out that the largest impact to a property is the exposure that a building receives in the form of leaks and cracks. Their forte is know the best, strongest and compatible material needed for any application whether vinyl, plastic, a specific concrete or what have you to make the resultant job completely sealed for the future integrity of the building.
Nicole Gorski of Officeworks New England provides full service contract furniture sales. They are able to assist with test fits and space planning when working with clients. She can offer your client methods of space layout by utilizing removable wall systems, cabinetry to accentuate and organize and combine an acoustical system that will enhance the office environment. A great testimony to their expertise is the implementation of acoustical materials that can solve any sound issue.
Duane Himes of Weston & Sampson explained that their company is a multi-disciplinary engineering company in the civil, mechanical and electrical realm but also participates in construction and in particular the handling of waste water projects. As they are especially versed in rectifying environmental issues, they can clean up and dispose of contaminants in mill environments or any older facility from an engineering stand point. As another adjunct to their services, they have high marks in the renewable energy field whether it be wind, solar, hot water, etc. They wear many hats and wear them well.
Jeff Boufford of Boyd and Boufford assists investors get binders for all types of property. As Jeff is licensed to practice and sell all over New England, he can underwrite any policy throughout the states including workmen’s compensation. The rates are especially competitive now – Jeff would be happy to meet with you to give you the best possible quote for your needs. Jeff pointed out that the PFOA issue is not going way anytime soon so protect your office/industrial/residential environment – he highly recommends that you purchase a pollution policy. There again the rates are coming down with more policy holders in the marketplace.
Scott Kingsley of Primary Bank handles commercial lending in New Hampshire, Maine and Massachusetts. He not only deals in SBA financing but all types of construction loan packages. As Scott has been actively practicing in the banking industry since 1990, Primary is now the preferred SBA lender. Please keep them in mind when seeking lending for your clients and customers.
Hayley Klein hails from Hirsch & Company in Merrimack. Their company represents the leasing of The Medallion Center at 22-24 Greely Street in Merrimack. The building consists of small incubator office spaces as well as 4,000 s.f. of professionally managed office space. Great location at Exit 11 in Merrimack.
Hayley also pitched a for sale property at 33 Bedford Road in Bedford consisting of a 5,000 s.f. residence with a 1,100 s.f. former dental office on .81 acres situated in a high traffic location on Bedford Road. The home has many upgrades and has ample parking for any home grown business.
Laura Nesmith of Colliers International pitched a listing at 36 Bay Street comprised of 4,280 s.f. of medical/office with fourteen onsite parking spaces for lease at $10 psf NNN. Though it is currently fit up as a medical office, it can easily be converted to professional office, salon or spa. Additionally Laura announced that Doug Martin of their office is also marketing for lease three contiguous warehouse/flex units with loading docks at 30 Lamy Drive in Goffstown. The 3,600 s.f. configuration can be subdivided into 1,200 s.f. units being marketed at $6.25 psf NNN. Laura also has a great 3,700 s.f. office building at 360 Route 101 in Bedford better known as Pine Tree Place on the market for sale at $355,000 with an additional bonus that the owner could lease back a portion of the building.
Lindsey Goodrich of Berkshire Hathaway is working with a passive investor seeking a two million dollar investment for his portfolio. Lindsey also has another passive investor in the million dollar range looking for property in northern Massachusetts or southern New Hampshire.
Steve Scheiner of St. Mary’s Bank explained that they can lend from as low as $100,000 up to $8-$9,000,000 partnering with a participating lending institution. Steve tells us that their turnaround time is relatively quick re their decision making process. St. Mary’s Bank is the nation’s oldest full service credit union that offers checking, lending, mortgages, business banking and financial planning.
Matt Lefebvre of Elm Grove Realty is currently working with a cash investor with a half to $5,000,000 seeking multifamily properties having a profile in the A and B range. His other multifamily investor is in the market for 100 to 300 units of Class A, B or C properties willing to spend on the low of $2,000,000 up to the high of $5,000,000. Matt has recently listed a Diver’s Den Shop inclusive of both the real estate and the business for $459,000 with everything included. There is a combination of retail along with two apartments providing additional income. This PADI certified asset also has an in ground pool for classes and is located at Exit 8 at Mammoth Road. In addition Matt let everyone know that his large portfolio in the Town of Pittsfield has been reduced to $3,247,000 with a strong cash flow. Lastly, Matt is three off market listings waiting to go live in Manchester – A six unit; a three unit and a twenty-seven unit.
Murray Beaulieu of Boosted Profits explained that their firm stimulates growth to the economy and gets a client/customer an excellent tax benefit through cost segregation using an aggressive depreciation mechanism. He feels that the small business owner can profit greatly taking advantage of his specialty tax planning; these strategies are not generally known by the average CPA. Murray can bring value to clients – he is always happy to sit down with your client/customer to discuss the advantages of utilizing his tax savings platform. As an antidotal message, Murray spoke of a friend of his by the name of Scott Baker whose mission is to underscore the benefits of living in New Hampshire. To that end Scott has a web site called 603 and me toasting the virtues of New Hampshire. Contact Murray for more details.
Ken Lambert of Red Thread offers first class office furnishings and related services. The have the most touted Steel Case furniture and everything in between including sound masking. He recently visited an architectural firm in greater Boston with forty designers on staff with plans on the drawing board to hire another twenty more. All of this is the sign of the times which will trickle up to New Hampshire. Red Thread offers customers access to the latest innovations in the workplace and integrated interiors. One of their fortes is a flexible alternative to traditional construction with the use of the modular office walls providing superior acoustical performance for increase productivity. Reasons to use modular walls: Privacy; technology, flexibility, ecosystem and sustainability.
Robert Cruess of TFM Engineering operates from both Bedford and Portsmouth – their engineering firm handles site, structural, survey and a long laundry list of services from A to Z in the development arena. Robert reiterated that they are happy to work up a conceptual layout to assist in bringing some clarity to any development project. Robert passed around a plan depicting an existing Rite Aid; work force housing project and a Franklin Savings Bank satellite breaking ground September 10th. He is looking for other uses to fill this 3.1 acre project in Goffstown situated at a traffic intersection. As always, brokers are protected. Robert recently hosted one of the largest Chamber of Commerce events by way of his annual barbeque attended by some 150-200 guests. As a last tidbit, Robert mentioned that their firm has now been in existence for fifty years!
Jay DeMonte of Masiello Commercial concentrates on business brokerage. Historically he has handled almost exclusively restaurants, pizza parlors and bistros. As of late he has noticed that organic oriented businesses have cropped up with health benefits. He is currently marketing an “organic” shop for $129,000 with a cash flow of $75,000. As Jay does so much in the business sales realm, he would like to widen is sphere of influence by getting his name and business cards out to business friendly banks that are SBA oriented.
Kathy MacKinnon of Masiello has just recently transitioned into commercial from residential. She is now marketing a former gas station which was built in the 1950ties right on the Milford Oval sited on .028 acres of land with public water and sewer having parking for 21 cars and priced at $315,000. Lastly, Kathy announced that she also has a five unit multifamily property at 29 Hanover Street in Nashua with a cap rate of 9% priced at $375,000.
Fred Richards of Masiello explained that they have offices in Concord, Bedford, Hampton and Keene. Fred is marketing a 2,200 s.f. condo next to the Capitol Center of the Arts in Concord for $170,000. Prior to going into brokerage, Fred was an appraiser and can now apply those skills with his financial analysis background which is invaluable in this business.
James Bibaud of Masiello Commercial who most recently was employed by John Flatley has joined the growing team at Masiello.
Chris Pascucci of Masiello Commercial announced that he is in the throes of listing 12,600 s.f. of high end retail space in Salem yet to be constructed. Chris also has a very unique listing at 351 Chestnut Street in Manchester with plenty of onsite parking some of which is covered. To boot, there is a finished firing range which could be used by a gun club. All types of configurations can be had at the former Manchester Police Department property. In addition Chris spoke about some net leased properties he has listed in Tilton one of which yields a 7-8% cap; yet another brand new listing with a 200’ frontage and yet a third housing a twenty year old business which is not currently on the market though all three buildings could be purchased as a total package.
Jay Lee of Berkshire Hathaway has an investor who is seeking a redevelopment site in the ten million dollar range. In addition Jay has three bank sites for ground lease out in the marketplace as follows – In Londonderry with 25,000 cpd; in Salem with 42,000 cpd and in Nashua with 40,000 cpd. Lastly, Jay has a beautiful office listing right on South River Road; the two suites are 1,200 s.f. and 2,600 s.f. respectively or all of the 3,800 s.f. could be leased to one party at $17.50 psf modified gross.
Joe Campbell of North Branch introduced his guest Jason Achmoody of Ledyard Bank who is a relationship manager. Welcome Jason. North Branch is one of the largest construction companies in the state of New Hampshire. From schools, healthcare, municipal and state, religious and historic renovations, North Branch does it all. Joe touted the fact that their company has been in the business community for some sixty years. And even though there is a labor shortage, they have thirty carpenters on staff so they are constantly rotating these skilled workers to a variety of onsite construction jobs.
Jason Achmoody of Ledyard National Bank explained that their bank is relatively young being established in 1991. They manage in the neighborhood of 1.5 billion dollars in their portfolio and have just recently taken occupancy in the Concord area with a soon to be announced retail location. They hope to make their presence known in the southern tier of the state as well as keeping their established base in the Lebanon/Hanover locale. Here’s hoping we see more of Jason at our future meetings.
Leighton White of Leighton A. White Inc. explained that they are excavation contractors along with being purveyors of any kind of gravel, sand and alike. They can provide all sizes and species of rock as they own a local gravel pit and quarry in the Milford area. 95-95% of their work is in the commercial/industrial arena doing refurbishments of parking lots; underground utility work and drainage projects.
David McConville of NewVo Interiors explained that they are a full service to midrange design specialist concentrating on Swiftspace which is a mobile meeting booth which offers a great solution for groups of up to six people offering privacy and mobility. This creative design really changes up today’s office requirements in just minutes as it folds, has casters for flexibility and has a cost savings component that is welcomed in today’s fast paced society. The technology is fascinating and offers a host of options for any type of office application. They also have the capability of liquidating a customer’s current office furnishings.
Drew Carter of RPF Environmental removes nasty hazards from buildings including asbestos, lead and a variety of materials that are problematic. Drew went on to explain that the state has what is called a New Hampshire Safe Law which is most important for a multifamily property. His firm can do the inspection and produce a lead safe certificate once the property is free of that hazardous substance.
Steve Jones of Building Envelope Specialist, our sponsor for this month’s marketing session was kind enough to provide a great breakfast spread. Their firm focuses only on the exterior of buildings and work in tandem with architects, contractors and masonry experts to provide the best solutions to make the exterior of any type of building impervious to the elements. He recently attended a course at the University of Wisconsin receiving his commissioning in the building envelope designation. Steve added that they were proud to have completed a very difficult assignment with the US Navy i.e. a low frequency project. They were given only (45) days to locate the leaks and remediate the situation. Their service was provided well within the confines of the (45) days with no leaks whatsoever and with a follow up report that the project is performing very efficiently. They are currently working on the exterior of a large condominium complex that has intrusions into the buildings due to the age of the structures. They are working with the condo association implementing a new design to re-clad the buildings.
Ray Dugdale of Colliers Financial explained that their group can assist brokers in providing the best financial resources for their clients and customers. Further, Ray explained that they work with any borrowers supplying the buyers and/or brokers a financial application for a wide spectrum of lending institutions. By availing yourself in working with their team your buyer will receive the best lending terms, a more competitive rate and in addition be more flexible in processing a given loan. Brokers are compensated for their referrals and will be thanked by their client for giving them that extra service. And of course the entire transaction is treated with the utmost confidentiality. Lastly, Doug mentioned that he has worked successfully with Bill Jean of Fulcrum and Jeff Boufford of Boyd Boufford assisting in transacting successful loan transactions.
Ben Baroody of Baroody Real Estate is working with a buyer who is seeking a gym in the neighborhood of 12,000 s.f. from Milford to Hooksett with enough parking to accommodate (70) cars. This buyer is well heeled with deep pockets so contact Ben with anything you have or coming to market. Ben is also marketing a free standing 6,160 s.f. cold storage, flex building on 231 Woodland Avenue in Manchester. This hard to find space is priced at $670,000 and is conveniently located one mile from Routes 293 and 101.
Brian Sowers of Belfor Property Restoration explained that their company has 163 offices throughout the United State and are able to handle any major disaster of any size including fire, floods, bio-hazard and document recovery. They recently handled a multi-unit flood crisis at the Hilton in Boston; restored the documents from a New Hampshire law library that suffered a major blow from a tree landing on the roof. They work closely with brokerage firms including CB Richard Ellis and Colliers International. Brian reiterated that they have the capability of handling small projects or large disasters in the residential or multifamily arena as well.
Mark Lacoy of Allobar Strategies expounded on the services that they provide. As a property tax consulting firm which was founded by attorneys committed to promoting fairness in taxation among property taxpayers, their group can provide tax abatements across the board. They are currently working on the September 1st deadline appeal cycle operating in Massachusetts, New Hampshire and Connecticut. Mark pointed out that they can negotiate tax abatement terms for multiple years three to four years out. Allobar Strategies works on a contingency basis for all qualifying property tax abatements and appeals.
Vincent Chestnut of Alpha Locksmith gave us the typical rendition of purchasing a key for the local hardware store. The key making process is extremely loud and when you finally get back to your destination to utilize the key, you find that it doesn’t work. First of all, their machines are not calibrated often enough and often times the staff making the keys is not properly trained. Vince’s keys “work”. And in the case of security keys which cannot be duplicated but sometimes get lost, Vince also has the skill to replicate such a key. Vince maintains his wheel keeping everything sharpened and calibrated for accurate key making.
Dave Grappone of KW Commercial has a number of office units located at 288 South River Road in Bedford. The office space was recently occupied by a high profile occupant and to further sweeten the pot, the Landlord is offering four months of free rent. Dave is seeking an industrial investment in the two million dollar range from Manchester north to the central portion of the state. In addition Dave has a 4,000 s.f. industrial space for lease at 13 Rebel Road in Hudson being marketed at $10.50 psf modified gross. Lastly, Dave announced that CIBOR Cares will be holding their annual event at Fratello’s in Manchester on October 17th and are looking for auction items as well as sponsorships.
Eric Chabot of Turn Cycle Solutions specializes in tenant improvements for commercial applications typically working on projects from $250,000 or lower. Their other specialty is weatherization where they interface with the home owner or commercial property owner assisting them in obtaining energy rebates up to 50%. A worthwhile endeavor. Their mission is to better improve the environment, while guiding businesses and homeowners to conserve capital and environmental resources, while attaining the highest level of customer service.
Stephanie Morrison of Morr Interiors offers a full range of design services including commercial interior design as well as residential applications. Morr can add value to the design process for Clubhouses, Amenities Centers and Common Areas. They will review floor plans, offer architectural reviews, talk about the aesthetics and discuss opportunities to better the project. This step has been proven to be very instrumental by eliminating costly construction changes down the road.
Bill Jean of Fulcrum Associates who is based in Amherst concentrates their business plan throughout New Hampshire and So. Maine applying their skill sets to ground up construction as well as Tenant Improvement work. By involving Fulcrum early on, your client can identify the true construction costs up front. Their current and up to the minute knowledgeability on construction product costs and construction costs are invaluable when planning the whole project to the end game. Bill welcomes the opportunity to interface with any broker with client requirements.
Steve Mangekian of Alpha Inspections is down an inspector due to an unfortunate bee hive accident though he just hired a sixth inspector to help lessen the load. His team not only works on residential and commercial inspections but bank draw downs as well. In addition, their expertise covers environmental Phase 1. Steve tells us that business is very robust and commented that they have received so many referrals from being part of the CIBOR organization.
Louise Norwood of NAI Norwood Group, Inc. posted a want/need with the following criteria – trucking company in need of 10 to 15,000 s.f. in the Greater Manchester area; four docks and a field of parking to accommodate six tractor trailers and delivery vans. Filling in for Chris Norwood and Joe Robinson – they are marketing for sale or for lease an industrial asset located at 7 Tallwood in Bow. There are a variety of flex condos available for either a user or an investor. A great opportunity to purchase the majority of a well located condominium complex and sourcing your own tenants on this partially leased property. Sale price is $1,250,000. Lastly, filling in for Judy Niles-Simmons and Chris Norwood for their listing at 337 Route 101 in Bedford – the two story 8,939 s.f. retail/office building has been reduced from the original sales price to a very marketable price of $550,000. Please contact them with any questions and/or showings.
We wish to thank Steve Jones of Building Envelope Specialists for the fine breakfast everyone enjoyed. The attendance has increased substantially and everyone seems to enjoy bringing their business and properties to the table. Look forward to seeing everyone on the fourth Wednesday of September.
Enjoy the rest of these glorious summer days.