Statewide Marketing Session for April 2018
Submitted by Louise Norwood
The April Statewide Marketing Session was held on Wednesday, April 25, 2018 at our new location at The Matheson Education Suite at 166 South River Road in Bedford. It was a very informative forum with a few new faces along with the regular suspects! Our sponsor this month was Bill Jean and Niny Phommachanh of Fulcrum Associates. Fulcrum Associates is a family owned Construction Management firm located in Amherst, New Hampshire practicing high performance construction since 1989. Fulcrum applies a strong emphasis on pre-construction services collaborating with owners, design team and project stakeholders to evolve a project to meet performance requirements and budget expectations. Fulcrum performs over 70% of their work on a negotiated basis applying the core values of an exceptionally satisfied client, completion of a job that they are proud to affix their name to, a fair and equitable treatment of team members and stake holders and with a fair profit only after they fulfill all of the first three values.
Steve Mangekian of Alpha Inspection reminded everyone that today is National Admin. Day so just shouting out a friendly nudge to show your appreciation. Steve has five inspectors on staff and practices through the states of New Hampshire, Maine and Massachusetts. He currently has a pending report for a group of summer camp buildings comprised of twenty-eight separate structures in Rhode Island. He works on a variety of property types including prisons, C stores, medical and every conceivable category of property. Lastly, Steve gave his thanks to Scott Kingsley for referring him business.
Doug Martin of Colliers International is continually seeking value added and investment grade properties for his clients. Doug pitched two of their mill properties one of which is located at 150 Dow with 40,000 s.f. of available, contiguous space at $10.00 psf NNN. The other mill property is located at 60 Rodgers Street which is owned and operated by Tom DeBlois next to the neighboring, newish City of Manchester municipal building having 10,000 s.f. which is currently available at $6.00 psf NNN. In addition Doug is offering Class A office space at 1750 Elm Street with a full complement of varying sizes to fit your client’s requirements conveniently located right off the Amoskeag Bridge. Lastly, Doug announced there will be a ground breaking soon for the 39 Constitution address comprised of two floors for a total of 44,000 s.f. at $20.00 psf NNN. This new office building offering should be on line within eight months.
Larry Hirsch of Hirsch and Company is offering 12,000 s.f. at 14 Tinker Road in Londonderry that is comprised of two thirds office or R & D and 4,000 s.f. of warehouse which is fully air conditioned. Larry is also marketing 5,600 s.f. and 20,000 s.f. respectively at 26 Clinton Drive in Hollis which is only a four mile drive to the Everett Turnpike. The property is being offered at $5.95 psf NNN.
Hayley Klein of Hirsch and Company is marketing a fully functional restaurant in Nashua. This 4,000 s.f. eatery is situated at a highly visible, high traffic location with a 125 seating capacity, full liquor license and fully equipped kitchen. With 1.79 acres of land, there is a potential for expansion and is being offered at $700,000. In addition Hayley has the leasing responsibility for The Medallion Center at 22-24 Greeley Street in Merrimack. The available units are 1,198 s.f.; 2,274 s.f. and 1,917 s.f. respectively at a modified gross rate of $12.50 psf.
Ben Baroody of Baroody Real Estate introduced his guest, Steve Hinchee of TD Bank. Ben is currently marketing a 3,000 s.f. restaurant with outdoor patio front and center on Elm Street in Manchester. The patio has expansion potential and has ample parking of seventy-nine parking spaces. Ben also has a hard to find small 6,160 s.f. manufacturing warehouse at 231 Woodland Avenue in Manchester for sale at $750,000.
Steve Hinchee of TD Bank joined us as Ben Baroody’s guest. Steve announced that during the months of May and June that the appraisal fees will be waived on any loan under $1,000,000. We hope to see Steve again at future marketing sessions.
Scott Kingsley of Primary Bank covers the territories from Maine to Massachusetts. He is spearheading the special affiliate’s committee at a networking event scheduled for August 2nd between the hours of 5:30 to 7:30. With twenty-one members on the committee it should be quite the gathering given there are currently 550 members of CIBOR. Three facilities are being considered for the event so stay tuned to see where this social will ultimately be held. Scott touted the services of Steve Mangekian and declared that he is the “guy” for inspections.
Kent Buschle of Heartland specializes in credit card processing and payroll application. Kent demonstrated a hand held credit card machine that streamlines the eating experience at your favorite restaurant by tracking the initial order straight through to payment by utilizing a card imbedded with a chip which allows servers to be more efficient. Another innovative feature that Kent described is a plan for companies with at least 15 or more employees hiring veterans or a specific classification of individuals (speak to Kent for more details), a method of significantly reducing their payroll expense.
Lindsey Goodrich of Berkshire Hathaway is still acquainting herself with CIBOR and our marketing session. We hope she will continue to join us and have some listings to share.
Bill Jean of Fulcrum Associates provided us with an excellent breakfast along with a hand out of snap bracelets. Thank you Bill for the excellent breakfast. Bill expounded on his company’s practices which span from Tenant Improvement and ground up construction. In addition, he is seeking a multi residential land opportunity from 50 to 250 units anywhere in southern Maine down to the northern Massachusetts border. Fulcrum is a full service construction contractor that feels that their best solution to any project is to get involved early on in the process whereby they can provide upfront financial analysis and bring a finished product to the market at the most realistic budget price. Fulcrum is also working with a developer in the seacoast region who wishes to locate an experienced restaurateur in a second floor retail building in the Portsmouth ocean area. Bill spoke at some length re the CIBOR Cares arm explaining the matching funds program. Other CIBOR members involved with this great cause is Laura Nesmith and Doug Martin both from Colliers International.
Niny Phommachanh of Fulcrum Associates joined us for the first time. Welcome Niny! Niny is an amateur photographer who enjoys working with Realtors on this venture. At the moment this is a part time endeavor but hopes to build on her successes.
Matt Lefebvre of Elm Grove Realty has cash buyers for multifamily properties from a half million up to five million dollars within the geographic area of the Lakes Region to the south. Matt is seeking a free standing industrial building to purchase in the 10,000 s.f. range in the Nashua area. Elm Grove is still marketing the attractive 3,200 s.f. Victorian for a purchase price of $315,000. As the month to month tenancies move out, the opportunity for an owner user grows – keep in mind the signage offers great visibility.
Marilyn Charbonneau of NBT Bank explained that their institution now has 167 branches throughout New England with New Hampshire being ranked first for business overall and Manchester number two. Congratulations on such a track record. Marilyn went on to say that as the Business Development Officer she is always willing to sit down with potential clients to discuss their goals. The bank is now 160 years old with their headquarters being located in update New York. In addition Marilyn handed out flyers announcing a home equity line of credit at a low introductory rate of 0.99% fixed for the first six months. Lastly, Marilyn spoke about Neighbor Works, a non-profit training resource fund, which is a program designed to assist and educate would be home owners in the realm of affordable housing.
Jonathan Smith of Harvest SBF focuses on owner occupied property lending. Harvest is the largest SBA lender just having launched a 504 fund. Jonathan touched on a recent debacle with a dentist who owed two million dollars to the IRS which took some expertise to work through that challenge.
Laura Nesmith of Colliers International wished to bring to everyone’s attention a local charity that CIBOR Cares is currently working on namely the Bedford Food Pantry. Laura pitched a new listing of two contiguous office condominiums located at 904 Hanover Street in Manchester at a purchase price of $87,000 per unit. In addition Laura is also marketing several business condominiums at 835 Hanover Street in Manchester with various size increments of 1,911 s.f.; 1,925 s.f.; and 2,132 s.f. at a lease rate of $10.00 psf NNN all with ample parking. Also, contact Laura if you are seeking a day care center.
Roger Therrien of Service Credit Union explained their institution has the capability of loaning $30,000,000 for commercial ventures and at a fixed rate for ten up to fifteen years. Headquartered in New Hampshire since 1957 when they launched their business services they have now grown from 1.8 billion to 3.2 billion institution. Their growth has steadily brought additional satellites now with thirty-five offices throughout New Hampshire and Massachusetts as well as overseas servicing our military.
Nick Shea of Shea Commercial Properties pitched a high profile fast food restaurant comprised of 2,448 s.f. on busy 693 Lafayette Road (Route 1) in Hampton. This former national brand restaurant has coveted drive thrus with kitchen equipment intact and is being offered at a sales price of $1,250,000 or for lease at $34 psf NNN. Nick is also marketing a large retail/commercial investment at 142 Main Street in Salem for $3,200,000. This high profile plaza currently houses Rite Aid and a variety of other retailers. In addition Nick also has other retail offerings in the Salem vicinity for lease which are spelled out in greater detail on NHCPE.
Jay Lee of Vernai Realty is looking for strip centers in the Southern New Hampshire region preferably Manchester up to $10,000,000. Jay continues to market a great South River Road office suite located at One Club Acre Lane across from The Manchester Country Club being offered at a lease rate of $17.50 psf. Lastly, Jay is working with cash buyers who are seeking gas stations or sites in four different venues from one half acre up to ten acres of land.
Chris Pascucci of Masiello Group Commercial is working with a cash buyer who is seeking twenty to twenty-five units in New Hampshire. Chris also announced that he just listed the former Mobil gas station on the Milford oval. This 1950’s garage is situated on one quarter of an acre and is being offered to the marketplace at $315,000. He also continues to market a 2,700 s.f. second floor suite at 80 Canal Street in the mill district at $15 psf modified gross. As for land offerings, Chris has a 2.5 acre piece at a lighted intersection in Brentwood right off Route 101 with a price tag of $249,000.
Suzanne Brunelle of Devine, Millimet and Branch stated that their legal practice stretches from New Hampshire to Massachusetts to Maine. Suzanne’s real niche is small to medium real estate projects and especially likes to become involved in the Purchase & Sales process early on along with coordinating title reviews, zoning and planning. With seventy attorneys on staff there is always someone to handle all facets of the legal engagement right through their litigation department should something go awry. She warned of a new IRS scam that targets home residences saying that they owe a certain amount of money and threaten. IRS will never call a residence (ever). Lastly, Suzanne wished to let everyone know that the CIBOR Cares Board will entertain any worthy cause for consideration.
Robert Cruess of TF Moran Engineers is seeking an investment for a 1031 exchange in the range of $700,000 to $1,000,000 and needs to identify by June 1st. Please contact Robert with any property you think worthy. TF Moran has provided the survey, civil/site engineering, structural engineering, permitting and landscape architecture services for the redevelopment of the Bedford Land Rover dealership on South River Road. This standalone Land Rover dealership will be one of the first to feature the new Jaguar-Land Rover “ARCH” concept. Robert also touted the virtues of NBT stock which has served him well over the last thirty years. And of real interest to the crowd, Robert announced that their annual CIBOR barbeque will be held on June 14th at which time the Realtor of the Year and the Affiliate of the Year will be announced.
Tad Dziemian of Neighborhood Energy which is located in E. Hampstead deals in reducing energy costs in both the gas and electric arena. Tad’s firm can assist in monthly savings which he feels is unrivaled by other like type companies and will provide the customer with a monthly report displaying the savings. By keeping track of the monthly usage, a client will have firsthand knowledge of how well the system performs. Tad would appreciate any good referral in the form of a property owner or property manager to whom he can provide references to and prove out his premier services.
Marie Degulis of Secondwind Water is a key water specialist handling all types of water treatment no matter if the property be industrial or multi family. Her firm would be happy to evaluate any water situation and submit not only an analysis of the water quality but a report delineating the extent of a future capital investment. Marie is very enthusiastic about water quality, related equipment to remediate issues and is willing to examine all types of water problems whether residentially, commercially or institutionally.
Don Marshall of Marshall Associates who deals in business sales is currently working on projects from Keene to Portsmouth. In particular, Don is marketing a veterinarian clinic that has been operational for thirty years as well as a kennel on five acres of land capable of housing fifty dogs. In evaluating a business’ worth it is largely predicated on their financials and management aesthetics on their ability to acquire new business through grounded relationships.
Joe Friedman of Brooks Properties is continually looking for industrial space throughout the Salem to Manchester quadrant in the 50 to 70,000 s.f. range to purchase. As the Brooks family representative he is marketing their office spaces for lease from 1,200 s.f. up to 90,000 s.f. at lease rates from $7.00 psf NNN to $30.00 psf NNN for new construction. On the industrial spectrum, Joe has spaces as small as 900 s.f. at a lease rate of $6.00 psf NNN to 50,000 s.f. at a lease rate of $9.00 psf NNN. Joe also wished to bring to everyone’s attention the Brookstone Event Center located just off I-93 on Route 111 which can accommodate family reunions, weddings, conferences, office gatherings from 25 to 500 patrons. They are also seeking a small restaurant operator for the golf club which is part of the event center.
Ray Dugdale of Colliers International co-ordinates borrowers with the best source of financing for their commercial investment projects. He and his team made up of Don and Dave Eaton can put together the most efficient loan package inclusive of good interest rates and closing fees. They work with all of the financial institutions across the board to provide their clients customized loan term sheets saving them dollars. By understanding the property in question and analyzing the financials, they can offer the client much added value advice. As Ray was in the banking business for forty years and is more than familiar with all of the credit unions and financial resources, there is an incredible amount of knowledge and synergy between he and the Eatons. They can provide the best financial package available whether it be for self-storage, all types of commercial asset management or even bridge financing.
Jason LaCombe of SMP Architecture provides pre-sale services inclusive of project visualization; re-use planning and project phasing. They are a full design service company that can conduct site analysis. From budgeting and managing the construction right up to ribbon cutting, SMP often works in tandem with the folks at Fulcrum for preliminary site planning. The early visualization can save time and money and often times can bring the project in under budget. Jason is new to the group and commented on how he enjoyed the professional yet relaxed atmosphere that we have all become to know and enjoy at these sessions.
Matthew Taylor from the Town of Bow joined us for the first time explaining that Bow is offering tax incentives and wishes to encourage multifamily housing. They are definitely open for business. The town has created a TIF District which will be most beneficial to the town as well as business opportunities for incoming enterprises. In addition, the town has also brought to the fore a mixed use district offering higher density projects with great visibility. With so much happening in New Hampshire, Matt wished to give their Town a boost by coming to these CIBOR events.
Matthew Poulin of Reliable Insurance Solutions also attended on behalf of the Town of Bow. He has recently become a new member of the Planning Board and piggybacked on Matt Taylor’s summary that the TIF District is a great advancement for the town. As for his full time employment, Matt gave us a thumbnail sketch of his family run insurance company saying they are small and can provide reliable, personalized service. They continue to explore new markets just having provided coverage for a 72 unit complex in Saco and several in Concord. Welcome to both Matts and hope they will visit us again.
Matthew Bacon of NAI Norwood Group is currently marketing seven to twenty-two units in Southern New Hampshire which will require signing a confidentiality agreement. In addition, Matt is now overseeing the leasing responsibilities at Granite Town Plaza at 185 Elm Street in Milford. There are several units available from 750 s.f. up to 12,000 s.f. at lease rates that are running from $5.00 to $10.00 psf NNN. Matt is also on the membership committee for CIBOR so please feel free to contact him to run your questions and application processes by him.
Dylan Jones of Salem Five Bank stated that their lending institution is capable of lending 1 million to 30,000,000 dollars for all types of commercial properties and repositioning existing properties. His office is located in Georgetown, Massachusetts. From personal banking to all types of business services, Salem Five Bank has been offering 160 years of service to the greater Boston area. With 34 local stores and assets in excess of $4.7 billion, they offer a full suite of products and services at the best rates around. Salem Five also can meet the diverse financial needs of individual consumers, small businesses and middle market companies throughout the region.
Kathryn Bristol of New VO Interiors located at 60 Rogers Street in Manchester explained that their company carries fifty lines of office and medical furnishings to suit all types of environments and pocketbooks. Kathryn also explained that to avoid the high cost of hard walls that movable glass walls are now most popular as they do not require a lot of expense and are most flexible. New VO Interiors can offer deep discounts to the published pricing from high end brand names to the more moderate lines. In addition, they offer a substantial savings for office supplies which are touted to be cheaper than Staples and/or WB Mason plus they deliver. They have much expertise in designing an office space to better lay out an office configuration for the maximum of efficiency. From offices to schools to restaurants, VO Interiors has your furnishing requirements covered.
Andrew Robbins of Colliers International is marketing a 55 unit residential community in Tyngsboro being offered at $2.79 million dollars with municipal water and sewer. Please contact Andrew or Bob Rohrer of Colliers for further details. We look forward to seeing Andrew as one of our newest CIBOR members.
Eric Chabot of Turn Cycle Solutions elaborated on how their company can provide a full build out from frame to finish in the residential and commercial segment of construction. They can also provide better weather efficiencies saving the property owner high monthly costs while bringing more comfort to the occupants. Their firm is always seeking an introduction to developers and property owners to bid on tenant improvements from the smallest fit up – sweet spot is $250,000 but are willing to get involved on any level.
Vincent Chestnut of Alpha Locksmith states that if you have ever had keys made at a big box store you well know that in many cases they just don’t work. Vince will make sure that every key he provides will work, no questions asked. In addition, Vince explained in larger complexes a master key is often employed and cannot be duplicated; however, a locking system can be compromised in just one day. For all of your security key needs, Vince is the man for the job and where he has a mobile vehicle to come right to your door, he provides convenience, expediency and trustworthiness.
Tom Champagne of St. Mary’s Bank represents the oldest and most premier credit union here in Manchester. They have the capacity to lend in the six to seven million dollar range and if need be they can parlay with another lending institution for greater loan sums. Tom’s office is located on the west side neighboring the Catholic Medical Center but have other convenient banking options around the state and Massachusetts.
Ray Sirois of Service Master Disaster hails from Rochester and has been part of our group for some time. His company assists in restorations of any and all emergency situations. In the event that a new listing or any redevelopment project comes to the market that has mold issues, Ray’s company can correct this serious health problem. When disaster strikes your home or business, call the leader in restorative and cleaning services which has been in operation since 1994 as they can respond quickly and efficiently in any emergency.
Stepfani Croteau of Allen & Major Associates claimed that they have been extremely busy with a variety of projects with multi family in Concord; a sheet metal facility in Raymond; wrapping up the Infinity dealership in Nashua and lending their services at a facility in Plaistow. Allen & Major Associates, Inc. offers land surveying; civil & structural engineering; landscape architecture and permitting services. Stepfani highly recommends the Fulcrum firm as they have had much interaction with them as of late.
Leighton White of Leighton A. White Inc. is also a commercial broker in his own right which couples well with their excavation/site work projects. Their company runs the gamut of site work from water/sewer; drainage; and all types of specialty work not only in the residential and commercial arena but institutional along with civil/public development. With ownership of three gravel pits and a quarry, they have a host of rock and sand materials to accommodate the largest job. They handle communities from Bedford to Peterborough and will travel in all directions of the state to fulfill a job requirement.
Ron Richter, a developer/broker from the Concord area pitched a fully approved 5.5 acres of land for a project namely “Club 55”. The engineering has been complete and can be purchased or Ron can develop as the case may be. To ascertain additional information and details, please contact Ron at 738-5583 or email@example.com. Ron is a first time attendee and we look forward to seeing him more frequently.
Brian Hansen of Team Engineering outlined their company’s mission statement. They help their clients better understand their buildings through inspection and design consulting; prioritize repair and improvement objectives and provide design solutions that improve the efficiency and structural integrity of building components. Team Engineering has assembled an expert team to handle all of your inspection needs and avail the client of their expert advice in resolving property issues.
Fred Richards of Masiello Group Commercial is seeking 15,000 s.f. of retail showroom space off a well situated state highway for a client that has a budget of in the 1.5 million dollar range. Please contact Fred with anything you may have in your inventory or soon to be listed property that might fill the bill. For more specifics, please contact Fred.
Mike Turcotte of Turn Cycle Solutions is also on the hunt for a 4,000 s.f. mixed use retail property to house a tack/large animal feed store in the Concord area. The client is interested in purchasing but will consider lease property as well. Think Turn Cycle Solutions for all of your general carpentry needs and as your energy efficiency specialist.
Louise Norwood of NAI Norwood Group is marketing a three business condominium package at Coldstream Park in Bedford comprised of 6,000 s.f. and with a sales price of $750,000. The units can be leased as well or sold separately. In addition, she also has another three condo assemblage of record listing at 124 Bedford Center Road which the owner will separate into a 4,000 s.f. suite or in its total of 5,900 s.f. This impeccable property is on the market for $1,062,000 or at a lease rate of $14.00 psf NNN.
Another great meeting with many ideas exchanged and much information shared to the benefit of all who took the time to attend. Our next meeting will be held Wednesday, May 23rd. We wish to thank Bill Jean of Fulcrum Associates who provided us with an excellent breakfast spread. Look forward to seeing you then and enjoy “Spring” finally!