Statewide Marketing Session for August 2016
Submitted by Louise Norwood
The August Statewide Marketing Session was held on Wednesday, August 24, 2016 at the GMNBR headquarters/training center at 318 South River Road in Bedford. This month’s breakfast sponsor was David Fenstermacher of VHB of Bedford, New Hampshire. VHB is a network of engineers, scientists, planners and designers across the East Coast. The company offers a full array of multidisciplinary services that enable the team to efficiently move real estate projects forward. They are a full service site/civil engineering firm providing environmental assessments and permitting to transportation planning and beyond. A delicious breakfast was enjoyed by all. We sincerely appreciate their sponsorship for our August meeting.
David Fenstermacher of VHB explained that their group provides a wide spectrum of services including civil engineering, site design, environmental studies, due diligence, sketches/schematics for quoting purposes and permitting on both a local and state level. Their firm was responsible for the implementation of the development at the Merrimack Premium Outlet Mall and the Hooksett Rest Area. They are currently wrapping up the CVS location on Nashua Street in Milford. The firm has much experience on a national level and understands the criteria involved to bring these projects to fruition.
Robin Bousa of VHB specializes in traffic studies along with land development as well as all facets of access permitting and driveway permitting. She works closely with the Department of Transportation and the community on both a public and private level. They recently completed a one half million square foot project in Seabrook. Robin went on to say that in addition to handling access studies with the New Hampshire Department of Transportation, VHB also handles air quality and noise issues. They pride themselves on bringing projects in on time and within the designated budget. By use of their expertise, VHB can expedite the permitting process. Robin also practices in the State of Vermont with their transportation people.
Bill Jean of Fulcrum represents a design/construction group based in Amherst doing entire ground up projects but also tenant fit up improvements. Their best value to offer a client is to employ them early on for a responsible pre-construction pricing package as they have current information available to them. A long laundry list of their most recent accomplishments are Temco in Manchester; (2) Hannafords one of which is located in Goffstown and the other in Manchester; a 34,000 s.f. medical facility in Newport; a 238 residential compound on Nashua’s riverfront; Dyn in Manchester; Southern New Hampshire’s medical center’s façade and ADA upgrades; two MRI installations; Siemens in Massachusetts; a four story facility for Dartmouth Hitchcock; improvements for Hitchner Manufacturing and a restaurant in Salem. Quite a list of accomplishments.
Steve James of Building Envelope Specialists operates from his home base in South Portland, Maine focusing on the six exterior sides of a building. He can nail down a scope definition and provide project management to any building. For buyers and buyer brokers this is especially important in vetting a building along with the examination of the cladding of its R value prior to signing a purchase and sales. He recently completed an exterior redo for a building in Goffstown which thoroughly changed the look and feel of the facility. Steve will be one of the presenters at the September 23rd quarterly educational program under the banner head of “What to Look for – Red Flags” which presently has three credits pending with the New Hampshire Real Estate Commission. Other issues which will be covered among others will be repositioning real estate assets, codes and what triggers what and environmental considerations.
Brian Hansen of Team Engineering came to the meeting in John Turner’s stead. Welcome, Brian. Brian noted that their firm has much experience in the due diligence realm along with engineering protocols and structural expertise.
Robert Cruess of TF Moran, Inc. commented on the recent Chamber event at their facility at 48 Constitution hosting a barbeque for some 200 chamber members with a visitation by candidates Kelley Ayotte, Chris Sununu and Rich Ashooh. Quite an evening. Robert announced a grand event to be held on Monday, September 12th at the Bedford Village Inn newest endeavor “The Bedford Grand” featuring tours by owner Jack Carnevale, President of The Bedford Village Inn. The open house will be held between the hours of 5:00 to 7:00 – more details will be forthcoming by Allison Ropes.
Scott Kingsley of Primary Bank explained that their bank handles everything from soup to nuts! Their institution is pleased to provide all services including but not limited to all facets of real estate lending including SBA loan packages. Add to the list – residential, business acquisitions, dental and medical lending not only in New Hampshire but down to Boston and up to Portland, Primary is ready to lend. Scott was quick to say that their bank puts deals together by “thinking outside the box”.
Don Marshall of Marshall Associates is a general business broker dealing directly with business owners focusing on all types of unique marketing to bring a transaction to a successful conclusion. Don explained that he has a relationship with a managed fund who can implement an installment sale of a business deferring the tax much like a 1031. Contact Don for more details on this exciting line of capital planning . Don is marketing a pizza/brew pub which is not a franchise but a nice concept priced at $750,000 with net take home pay of $160,000.
Vince Chestnut of Alpha Locksmith likens the feel of a front door knob to the overall quality of a building. He has all types of hardware to provide a building with not only good looks but with a good strong, protective feel. Vince explained that he can provide replacement keys for any U.S. Postal Service mailbox especially those cluster type mail boxes at business or residential condo complexes. Vince’s mobile operation can quickly and efficiently change out any failed lock with suitable keys very expeditiously.
Andre Tremblay of Franklin Savings Bank transacts business in Maine and Massachusetts in addition to their banking practice here in New Hampshire. They offer a full range of commercial and business lending for 20 to 25 year terms fully amortized. Andre went on to say that they will handle squirrely deals and would be glad to review any unusual deal and work it through the process. He is working with three clients who are on the prowl for apartment complexes. All three investors have interest in 40 units and above. They are all active buyers who have stipulated that their interests lie in the garden style/existing product so contact Andre with any and all appropriate listings.
Jay Lee of NAI Norwood Group pitched the many facets of the Faltin Drive properties on South Willow Street in Manchester. The various properties offer increments of 1,500 s.f., 8,000 to 9,000 s.f. up to 20,000 s.f. Jay also informed the attendees that he has listed a 6,000 s.f. free standing building in Bedford for $565,000. With new vinyl siding, new energy efficient windows and a newly paved parking lot, this building is a rare find in Bedford. Jay discussed an attractive 3,778 s.f. building he has listed for lease in Amherst with a traffic count of 27,000 per day. Lastly, Jay and his team have successfully leased 30,000 s.f. at the Ammon Center with only one 375 s.f. unit still available.
Jeff Brown of TD Bank who was in a former life a CPA now specializes in assisting business clients with their commercial loan requirements. Though the bank will process the smaller deals, they have put through a single loan transaction to the tune of $30,000,000. They cover a broad range of projects as well as land and building equipment. Jeff also sits on a board that vets high tech products and technology. Anyone interested in taking part in this high profile event which recognizes inventors, creators of new edge discoveries for software, computers or anything in the technology world, please contact Jeff as this program can spur a would be inventor to the forefront. Jeff’s goal is not only to service his clients through the financing process but to continue the relationship as a trusted advisor offering other merchant services in the field of wealth management for both personal and business financial goals.
Chris Pascucci of KW Commercial passed out marketing materials on a listing at 348 Lincoln Street which is presently occupied. As there are three sections to the building, a would be owner could utilize one space and rent out the other two portions deriving a decent income. The current owner will hold paper. The property would make an ideal motorcycle shop. Chris also has a space for lease at 35 Elm Street in Manchester. With four large display windows, this 1,400 s.f. retail space is an ideal location for visibility in a high traffic zone.
Rick Mulvee of Tower Realty has a long standing relationship with two excellent investors one having a very substantial source of capital in the realm of five million up to twenty million dollars. This party looks for value added deals. The other group of investors are true cash buyers in the two to five million dollar range who look for a long term hold with what Rick calls “an insurance mentality”. Rick has a great mill space at 150 Dow Street on the fifth floor between Script and HTA Engineers. This diamond in the rough mill space is being priced at $12.00 psf modified gross. Rick is searching out for his client a 30,000 s.f. retail/warehousing site requirement in Manchester, Hooksett or Bedford.
Joe Friedman of Brooks Properties can provide “build to suit” facilities for your client. Joe attributes many of his leads through the auspices of CIBOR. Brooks Properties large portfolio of properties extends all along the I-93 corridor with buildings ready for design, remodel or ready to move in condition. Their product is not only in the office realm but in the industrial/flex space sphere. Joe also wanted everyone to know that they have a 50,000 s.f. property available in the Sagamore Park section of Hudson. In addition, the Brooks people are selling a few of their assets so for more details on the specifics, please contact Joe. Their Brookstone Park facility is ideally set up for corporate outings for both small and large social venues.
Christine Burke of Burke Emergency Restoration deals in all types of restorative issues whether it be water damage, fire, smoke, mold, etc. categories. This is a family owned business that operates on a 24/7 basis in Southern central New Hampshire, Massachusetts and Maine. Much of their work is with mold issues. They can provide free analyses which will indicate the spore count, how toxic it is and how to remediate to a safe and healthy environment. Burke Restoration works with insurance companies to adjust in the case of fire damage. They recently became involved in a situation in Henniker as a result of a spontaneous combustion fire where they stepped in removing odor, soot, textile restoration and dry cleaning. The insurance companies both independents and large companies look favorably on allowing Burke to be involved with the process as soon as the episode has taken place.
Jeff Boufford of Boyd and Boufford Insurance Agency underwrites commercial insurance policies on a wide range of properties including commercial office condos along with vacant properties. Jeff can provide insurance products in the environmental realm which cover a host of these related issues. Jeff has much expertise in all facets of insurance delivered in a professional manner. Putting on his CIBOR hat, Jeff is part of the membership committee and explained how this trade organization can enhance your business whether as an affiliate or real estate broker. He would be happy to reach out to anyone who has interest in joining.
Clifford Harris of Global LBH has a 9,000 s.f. multi family on Clinton Street in Milford next door to the newly opened CVS by The Country Store (Edgewood Shopping Center). At a price of $175,000 this property represents good value for your apartment investor. Contact Cliff if you have any interest in showing his space.
Deana Theriault of NAI Norwood Group, Inc. recently listed an office condominium at Spruce Park at 109 Ponemah Road in Amherst. As the condo is fully leased with several individual office users in place, this pristine suite would make for a fine small investment at a price of $124,900. Unit H also located at Spruce Park is a highly desirable end cap unit which was recently occupied by a local attorney and is being offered either for sale at $163,900 or for lease at $10.00 psf nnn. Deana also presented a six unit multi family for sale at 8-10 Dutton Street in Manchester with a 7% cap rate and 10% cash on cash return; this property will require a 20% down payment. The property has some good upgrades so bring your apartment investors. Deana also has an affordable retail space for lease at 1134 Hooksett Road in Hooksett. This 2,500 s.f. space located in the same complex as Sherwin Williams is being offered at $12.00 psf NNN.
Louise Norwood of NAI Norwood Group, Inc. pitched two listings at 19 Kilton Road in Bedford. The 1,900 s.f. upstairs space is available for immediate occupancy on a full gross basis at $2,500 per month. The other space currently available is 5,050 s.f. most recently utilized as retail; however, office usage would be considered. As the building is strategically located in Bedford’s medical environment, the space could be medical in nature as well. The owner will consider subdividing the space and is being offered at $17.50 psf on a single net basis. With building sites at a premium, a one acre corner lot at 8 Ridgewood and Atwood with public water, sewer and gas available in the street is available for sale at $350,000.
Again, thank you to David Fenstermacher of VHB for a great breakfast and sharing information on your business tools. We look forward to seeing you all again for the September Statewide Marketing Session. Be sure to bring all related materials whether business skills and tools or real estate property listings for lease or for sale.
Have a great rest of your summer and enjoy a safe Labor Day week-end.