Statewide Marketing Session for February 2017
Submitted by Louise Norwood
The February Statewide Marketing Session was held on Wednesday, February 22nd, 2017 at the Keller Williams Training Room at 168 South River Road in Bedford. This month’s breakfast sponsor was Bill Jean of Fulcrum Associates, Inc. of Amherst, New Hampshire. Fulcrum provides design-build and construction management. The major difference lies in responsibility for design: In Design-Build all design, civil, architectural, structural electrical and mechanical Engineering as well as all construction is carried out under the aegis of the Design-Builder. With over 27 years in the business and a 90% performance ratio under CM agreements, Fulcrum has established unparalleled management expertise in their field. They monitor your building’s performance for a year after move-in just to confirm that its performance is up to par. Thank you, Bill, for providing us with an excellent breakfast spread from “Extra Touch”.
Chuck Goss of NAI Norwood Group, Inc. is seeking 15,000 s.f. of retail/service either in Nashua or Manchester with parking for thirty vehicles. His client would also entertain additional space for a business related tenancy. Their preference is to purchase and would consider undertaking renovations. Chuck also has a land listing at Exit 17 off I-93 comprised of ten acres of land. The owner is eager to complete a land lease and with 50,000 cpd at the intersection of Routes 4 and 93 and neighboring Xtramart and a Dunkin’ Donuts, this should not be problematic. A family style restaurant would be a great addition to the area. Chuck also pitched his listing at 490 Laconia Road in Tilton which was formerly a restaurant and could remain so or have mixed use potential. Great location near the Tilton outlets and on the way to the lakes region. Priced at $295,000.
Andre Tremblay of Franklin Savings Bank specializes in the commercial real estate lending field. He currently has three active buyers for multifamily/apartment complexes with a minimum of (40) units. All three buyers would prefer southern New Hampshire and buy properties on a regular basis. Andre explained that Franklin Savings Bank can provide a twenty to twenty-five year fully amortized loan. They pride themselves on offering simple loan products which can be accomplished cheaply.
Tony Fallon of Tony Fallon Architecture announced that there will be fundraiser at Gunstock Ski area on March 18th at a price point of $125 per person with music, food and plenty of skiing. Tony reiterated that even if you don’t ski, just come along and enjoy the festivities. He has worked on many interesting projects from a martini bar/vegan restaurant in Hampton to a marijuana facility/sanctuary. Tony also regaled us with stories of the repeat customers he has worked with from Philly to New York to Dallas designing their homes here in New Hampshire.
Bryan Wright of Colliers International is working with an academy affiliation in the Manchester area. He is seeking an industrial type situation to lease in the 4 to 5,000 s.f. range. Bryan is also marketing a property at Candia Road in Manchester comprised of 6,500 s.f. office across from the entrance to the E. Industrial Park area. In addition Bryan announced that he and his company are working on retaining retail tenants on the first level of the Hilton Hotel with spaces in the range of 3,000 to 4,700 square feet. A restaurant and/or Fedex would be ideal tenancies.
Brian Hansen of Team Engineering explained that they offer their clients building inspections, design consulting services and offer solutions to improve the efficiency and structural integrity of building components. They also do much work to improve the life of charitable organizations such as Andy’s Group, etc. At Team, they provide review and refine construction design plans that need an engineer’s signature and seal in addition to providing structural or repair designs.
Don Marshall of Marshall Associates is the expert in marketing businesses. At the moment he is peddling a restaurant/pub business in ski country (Sunday River) which is most lucrative. Don dazzled us with his “two step” approach to selling a dance studio which grosses $500,000 and nets $230,000 of income. Additionally, Don has a great garden center sited on (22) acres of land housed in an attractive post and beam structure. A perfect time to take advantage of this seasonal business and is being offered at $700,000. Don pointed out to the attendees that belonging to CIBOR and getting involved with the various committees builds strong and lasting relationships.
Rick Mulvee of Tower Realty reiterated his need for environmentally contaminated buildings none too big for his long time investors. They are what Rick calls “patient money” and need an escape route at the end of ten years. They are not afraid to invest from 5 million up to $20,000,000. At the moment Rick has sold out of his inventory of property listings so we hope that he will have something to share with us this next month. Rick went on to say that he has a client seeking timberland anywhere in New Hampshire.
Jeff Brown of TD Bank explained that their lending institution can provide all of the resources to lend in the commercial/industrial arena and have many ancillary services to cover any type of loan package. TD Bank is strong in medical financing and has covered anything from doctor’s fit-up; veterian clinics; dental and sundry other medical uses. They can be very creative in providing a strong structure in all medical venues.
Christine LaPorte of KW Commercial sat in for Ron Fredette. Ron is looking for a day care center in the Nashua vicinity – his client is willing to consider a million dollar package. Christine commented that Ron handles all types of churches and has quite a client list in this specialized segment.
Chris Pascucci of KW Commercial has a cash buyer seeking multi families in the City of Nashua. Chris pitched his listing at 2456 Brown Avenue in Manchester which is a single tenant building comprised of 35,200 s.f. The lease rate is $6.00 psf NNN. The property was completely recabled in 2006 with a high degree of technological attributes; a back up generator was added and has a great location just one mile from the Manchester/Boston Regional Airport. In addition Chris has a well maintained listing at 348 Lincoln Street in Manchester having three units totaling 4,128 s.f. being offered at $229,000.
Steve Scheiner of St. Mary’s Bank explained that the credit union is the oldest in New Hampshire with ten locations in the Southern New Hampshire region. Steve explained that they can turn a loan application around very quickly as their underwriter sits just outside his office!
Tom Champagne of St. Mary’s Bank joined Steve at the meeting sharing that their credit union is capable of loaning from $100,000 up to $7,000,000 in construction funds. For loan packages over that amount they have associated investment lenders that will participate. They are most active in Southern New Hampshire but entertain lending in all parts of the state. They are receptive to listening to all types of business/commercial lending.
Joe Friedman of Brooks Properties has a wide variety of for lease space along the I-93 corridor with key locations being Keewaydin Drive and Red Roof Lane in Salem and 16 Route 111 in Derry. Joe went on to say that many of their buildings are suited for medical technology; businesses in need of a call center and can provide difficult to find clean rooms. Brooks Properties also has a host of available properties for lease in the Methuen and Lawrence, Massachusetts area one of which is for sale on 20 Ballard Way in Lawrence. This great user property is comprised of 24,250 s.f. – for additional information please contact Joe.
Kaylee Gendron of Office Interiors Ltd. of Dover joined us explaining that the firm has been in business for thirty-one years in the sphere of contract design and office furnishings. She explained that though office design and related furnishings are their main focus they recently completely an assignment for the VA Pharmacy redoing their seating in the waiting areas. This is a great resource for your clientele as Kaylee can provide layout and specialized planning services.
Scott Kingsley of Primary Bank here in Bedford has much expertise with more than twenty-five years in the banking industry. The new start up bank that is one and half years young will entertain any and all commercial/industrial lending. They also handle Small Business Administration lending; 504’s and work closely with the Business Finance Authority. Scott followed suit with the other attendees in thanking Bill Jean for the great breakfast.
Tim Wege of New Star Properties NH are in the property management field handling multi families and all types of commercial properties. With their own staff and back office management they can offer a menu of services to co-ordinate with reputable experts in the field of property care, clean up and maintenance. Their roster of quality work force differentiates them from other property management companies.
Matt Bacon of NAI Norwood Group, Inc. is working with an investor seeking multi families in the greater Manchester area who’s pocketbook can manage a minimum of $300,000 to a maximum of $500,000. Matt announced two listings that he has recently listed – the first 1,560 s.f. condo is located at 31 Lowell Road in Windham and is being offered at $11.00 psf NNN and the other 1,479 s.f. business condo which is located at 3 Overlook Drive in Amherst is being offered for sale at $170,000. Matt announced that the Granite Rose in Hampstead has been taken under contract. Please contact Matt if you have a buyer in the leisure industry including golf courses.
Doug Martin of Colliers International is working with a cash buyer seeking an office related building in the 10 to 20,000 s.f. vein. Doug and his team have a wide spectrum of mill properties available for lease including but not limited to the Sundial Center on Queen City Avenue; 60 Rogers Street which in the middle of the city and a viewsome 3,000 s.f. office overlooking the river at 186 Granite Street in Manchester. All have very good parking. Additionally, Doug has two attractive office suites located at 166 South River Road in Bedford one right off the first floor lobby most recently occupied by Sotheby’s and 4,800 s.f. on the second floor at $18.50 psf modified gross.
Jay Lee of NAI Norwood Group, Inc. has a cash buyer seeking a one half to a three acre retail site for a gas station use. His client can close within thirty days so please contact Jay with any upcoming high value retail sites soon to be marketed in your commercial property inventory. For those of you working with convenience/gas station clients, Jay has a great one located in Windham being offered at $600,000. And lastly Jay made everyone aware of a prime retail site for either a build to suit or ground lease located on Route 101-A in Amherst. Approvals in place for a 12,000 s.f. building.
Adam Johnston of Optima Bank and Trust has the capacity to lend up to four to five million dollars. Adam also wished to let everyone know that the NH CIBOR Cares awards event is fast approaching to be held on May 24th. Please alert all of the participating brokers to submit their largest transaction closed by year’s end in order to throw your hat into the ring. This will be the third gathering in this series. Contact Adam with any questions you may have in regards to CIBOR Cares or for your financing needs.
Ray Sirois of ServiceMaster Disaster joined us for the first time coming to us from the Massachusetts area but covering all of New England. Being in the business for twenty-five years, Ray has much expertise in major distaster clean up. For additional information on any type of environmental or catastrophic situation, Ray can assist.
Jeff Boufford of Boyd Boufford Insurance Agency prides their company with the expert handling of all types of property casualty brokerage. Their insurance products cover distressed property; vacant property and enviromentally challenged properties and add to that “Builder’s Risk Insurance”. Whether contemplating insurance policies for either a buyer or seller, Jeff is the go to person. Jeff offered this public service announcement that as the CIBOR membership chair, he is constantly reminding business owners to consider membership in CIBOR. Good businesses that network attract more business.
Bill Jean of Fulcrum Associates was our breakfast sponsor for this month. We appreciate Bill’s unwaivering support to CIBOR and being critically involved on so many fronts. Bill explained that Fulcrum continues to seek anything from Tenant Improvement assignments to ground up development. Among some of Fulcrum’s development projects are a 176 condominium project along with a club house in Norton, Massachusetts. This extensive project which is yet to be built will have the participation of a private equity group. There is much involved in this project with the final construction documentation coming into fruition. Bill continues to look for investor/developers needing the expertise of what Fulcrum can bring to the table. Other landmark projects to Fulcrum’s credit are the new Copper Door in Salem; a substantial addition for BAE Systems; additional enhancements for the Fisher Cats featuring a tiki bar lounge, picnic area and new comfortable seating. They are also credited with the fine construction of 238 residential and commercial units in Nashua and forthcoming restaurant and the Hannaford’s in Goffstown just hosted their recent ribbon cutting.
As to special CIBOR events, Bill announced that a three credit course is being offered on Friday, March 24th at the SERESC Center in Bedford with our own Don Marshall officiating. Should any affiliate wish to become more involved, please see Bill as this group is responsible for planning three to four after hours per year. He is always looking for sponsorships for these events as well.
Andre Tremblay also announced on behalf of CIBOR that anyone wishing to write a meaty article on real estate whether it be on insurance, environmental, appraising, lending, self-storage or any topic associated with real estate should submit their article to Allison Ropes who will transfer it to the Board of Directors for vetting.
Louise Norwood of NAI Norwood Group, Inc. pitched a listing for David Gambaccini of KW Commercial. Dave has a new listing at 25 Harvey Road in Bedford comprised of 2,100 s.f. This flex space can be joined to the abutting corner unit making for approximately 4,000 s.f. of hard to find Bedford flex space. The unit is being offered at $8.25 psf NNN.
Louise announced that the 3,778 s.f. property at 46 Route 101-A in Amherst has been reduced in price to $389,000. The property is also being offered for lease at a reduced rate of $12.00 psf and $11.00 psf modified gross. This classic office building has great visibility on a heavily travelled highway. NAI Norwood Group, Inc. has brought to market for sale a stand alone brick office building in Coldstream Park currently being occupied by a financial group. This two story, 7,500 s.f. property is sited on a six acre site held in common and being offered at $900,000.
Many thanks to Bill Jean of Fulcrum for providing a nourishing and delicious breakfast. It is much appreciated. Our next meeting will be held Wednesday, March 22nd. We look forward to your attendance and to an early spring.