Statewide Marketing Session for February 2018
Submitted by Louise Norwood
The February Statewide Marketing Session was held on Wednesday, February 28, 2018 at our new location at the Matheson Education Suite at 166 South River Road in Bedford. It was a good group and while not as packed as last month due to school vacations, we had an opportunity to get around the table three times exchanging some great ideas and positive networking. Sponsoring this month was Steve Mangekian of Alpha Building Inspections with an excellent spread from The Extra Touch Gourmet Deli. We are grateful to Steve for being our sponsor and providing us with a great breakfast.
Steve Mangekian of Alpha Building Inspections currently has five inspectors and operates throughout the New England states. For many years Steve did much work for the developers of the past and then branched out purchasing a franchise. Three years ago Steve created Alpha Inspections for home and commercial buildings. Since then the company has thrived with the majority of work being derived by relocation inspections, property preservation and bank draw downs. He is trying to establish being part of a preferred vendor list for phase 1 and bank draws in order to further the vibrancy of his company. He made mention of the fact that he does inspection management for fifty 7/11 stores. His commercial inspections cover a wide spectrum of inspection services including but limited to site features, roof, exterior, structure, interior, insulation/ventilation, heating/cooling, plumbing and electrical just to mention only a few of the wide range of due diligence elements. Steve touched on the fact that should a bank take back a property, he would like to be the go to company providing that function. Prompt service, meeting deadlines and having the capability of inspection expertise for all types of facilities are all key reasons to consider and choose Steve’s multipronged company. Steve gives CIBOR high marks in furthering his networking and furthering his business bottom line.
Jeff Boufford of Boyd and Boufford Insurance specializes in commercial insurance and is especially attuned to providing policies for rental properties. A Lessors’ Risk Insurance policy is easy to write even though there is much competition in the marketplace. Jeff is adept at writing quotes that will best tailor fit your insurance needs and is located right on the South River Road strip. Jeff also underscored how much CIBOR has enhanced his business and as he is involved with the membership committee can guide interested affiliates through the application process. As always, Jeff has always and continues to be a great helpmate in setting up and breaking down the meeting room for our monthly sessions. Much appreciated.
Nick Shea of Shea Commercial Properties comes to us for the first time. Welcome Nick. Nick and his Dad Harry Shea are long time members of CIBOR. As Nick concentrates his brokerage efforts in the Salem area he is continually looking for commercial properties for tenants and buyers both in Windham and in the Greater Salem area. Nick commented that Buyers like to buy low and Sellers like to sell high! We hope that Nick will join our group again sharing his listings and customer needs with us.
Max Rogers of GL Rogers/Deer Street Associates has now become a familiar face and hope that he will derive benefits by sharing his listing information. Nick explained that they currently have 5,300 s.f. available in the 80,000 s.f. professional/lab building in Exeter. The space is fit up for a laboratory with individual sinks, specialty venting, washable cabinetry and at least six dedicated 220 lines, a shower and an eyewash station. Two other smaller units can accommodate medical types or a customized fit up for an office tenant’s requirements.
Jeff Brown of Cross Insurance formerly of TD Bank, has now become fully immersed in the insurance profession and wishes to discuss all of your insurance needs. As Jeff explained, Cross has significant brain power with a variety of knowledgeability from others coming out of assorted professional careers. He feels that Cross can provide the insurance seeker with the best possible service at the best possible price. Jeff also wished to let us know that there is a No. Shore CIBOR marketing session and should you desire to attend, he can fill you in with the details. This venue is less structured and more of a cocktail after hours mingle.
Marie Degulis of Secondwind Water Systems deals in anything related to water whether it be drinking water standards, boilers, water treatment plants and cooling towers. One of the most focused areas of their business is centered around medical/surgical applications; lab reclamation/ filtering waste water as well as management of school water systems. As water touches everything, medical and dental equipment are vulnerable to the ravages of rust or contaminated water or mold deposits. They can provide the treatment resources to protect your equipment assets
Chris Wellington of Capital Regional Development Council explained that they are a very competitive source for creative and non-traditional financing for small businesses, real estate development and more. Their gap financing would enable a buyer to complete the transaction from SBA 504 commercial lending to direct small business loans and Brownfields loans – CRDC has the expertise and experience to get your project financed. They provide gap financing for between 10% and 50% of total project costs. They can assist with economic projects currently seeking high visibility downtown projects where CRDC’s capital can add value to an important community identified project, with a focus on the following communities: Claremont, Newport, Concord, Franklin and Manchester. Chris used to work for the City of Manchester so is well aware of the nuances involved with their politics.
Romeo Danais who is an investor is seeking industrial product specifically as he recently sold sixty homes to the tune of five million dollars. He is looking to expend four million dollars to purchase industrial only preferably in the Southeast corner of Nashua. Romeo and his brother Richard are well known investor owners in the Manchester and surrounding environs. Please keep Romeo in mind for any of your industrial listings that will be coming up for sale.
Tad Dziemian of Neighborhood Energy is located in East Hampstead with the goal of lowering your energy costs. Temperatures play into the equation obviously but as your trusted advisor he can guarantee budget certainty and can avoid escalated energy costs into the eight digits. Tad commented that he has been a member of CIBOR for ten years and feels by consistent networking and with the quality of those who belong and attend the networking functions that he has built a base of clientele. He is convinced that CIBOR is by far the best networking group that he has ever been involved with also mentioning that the Seacoast Marketing Session is held on the third Friday of the month at Pease. Tad can manage your utility bill and significantly reduce the cost for you by offering different alternatives. You can trust Tad as he is well versed in the energy arena.
Diane Lewis of TD Bank is a trusted commercial lender providing all types of financing and in particular can offer expert advice in the mixed use category and medical related properties. She has several clients that have specific requirements. To list but some of her investor/clients – 1.) a veterinarian practitioner looking for 8-10,000 s.f. in Hudson or 2-3 acres of land in the 1.5 million dollar range; 2.) A 2,500 s.f. office w/warehouse in the seacoast region on a major highway; 3.) A dental practice requiring approximately 4,000 s.f. in Brentwood or Epping; 4.) A podiatrist seeking 2,500 s.f. in the greater Seacoast region; 5.) A mixed use investor seeking properties in So. Maine to New Hampshire; 6) A dentist requiring 3 to 4,000 s.f. in the Amesbury area and 7.) A 5,000 s.f. industrial user seeking property also in the Seacoast region.
Joe Campbell of North Branch Construction has a friend/user/investor interested in securing 30-40,000 s.f. of office in Concord and though he is working exclusively with his own broker, Joe will field listings his way should you have something coming to the market or off market offering. Joe also explained that North Branch is involved with a wide portfolio of municipal projects ready to be voted on in the towns of Warner, Londonderry and New Boston. In celebration of their sixtieth anniversay, North Branch is rolling out their new web site so please check it out.
Ken Lambert of Red Thread/Steelcase specializes in workplace transformation from ergonomic chairs, adjustable height desks, control systems and video walls to demountable walls, raised flooring and sound masking, they are your one-stop-shop for all products required in today’s workplace – bringing you unparalleled value and streamlined service. With their main office in Boston as well as here in Manchester; their team can assist in your space planning needs. Their company is closely aligned with Steelcase as their primary manufacturing partner but have access to 175 other product lines. They excel in expediting a commercial construction fit up by the utilization of demountable walls without the mess of actual construction debris. Ken announced that a workplace event will be held towards the end of March of this year at the Seaport District in Boston showcasing the cutting edge in office furnishings and all office related products.
Stuart Arnett of ADG-Arnett Development Group LLC deals in planning and development work for municipalities assisting in project implementation. Stu discussed tax issues as it applies to the City of Lebanon vs Claremont, New Hampshire – Lebanon enjoys a tax base provided by 42% of non-residential property owners vs. Claremont only providing a tax base from commercial properties at 21 to 23%. Also, as Stu pointed out interestingly enough, regardless of the base, taxes will not go down; not the taxpayer’s fault and even with $177 million dollars added the tax rate still went up. Housing does not always equate to more schools as couples are having less children or none at all. Stuart is currently working with several towns assisting in drafting warrant articles for the upcoming town ballots for the towns of Stratham, Bow and Hopkinton part of which is defining TIF districts.
Bruce Cunningham of Service Credit Union handles accounts through the State of New Hampshire. They have the capability of offering fixed rates for a lengthy amortization period and have the resources to finance equipment, construction venues, investment properties along with business checking services and many time saving tools to manage cash flow. Their sweet spot is an owner occupied vs. occupied fully by a tenancy coupled with retaining the property for some length of time. In that way they can hold the rate for at least fifteen years. They are also a full service SBA lender. Credit union members purchasing in the state can take full benefit of their services and favorable rates that are designed for a New Hampshire business/property owner. Headquartered in New Hampshire since 1957, they have the responsiveness and personalized service that you can only get from a local, member-owned credit union.
Suzanne Courtemanche of VHB deals in the regulatory compliance process; site development; industrial wastewater discharge issues; air emissions/noise assessments; oil pollution control and above ground/underground storage tank management among a host of other testing processes. One of Suzanne’s specialties is in the field of medical, veterans’ clinics and hospitals. Often times they are tripped up with wastewater discharge and all types of medical waste which absolutely require what is called a zero permit. In addition to handling medical issues, they co-ordinate services for municipalities whether assessing existing permitting or establishing a framework to see that compliance with all obligations are maintained. Lastly, Suzanne made mention of the fact that they handle Phase I and Phase II environmental site assessments; testing ground water and tank removal. Their services are far reaching with their Bedford, New Hampshire team being inclusive of more than 60 professionals, supported by 1,250 engineers, scientists, planners and designers across the East Coast footprint.
Matt Lefebvre of Elm Grove Realty is working with an investor who has interest in purchasing properties from half a million dollars up to five million dollars from Manchester to the Lakes Region. Properties in consideration are distressed, turn key, multi family and mixed use – Matt also appealed to the group that anything off market should be submitted to him as well. Their construction arm is on the cusp of completing a project at 26 Pleasant Street in Concord offering small office suites from 200 to 400 s.f. at $300 to $600 full gross with shared kitchen. Their other project is at 15 Pleasant Street in Concord featuring a 2,300 s.f. retail unit at $20.00 psf modified gross coming to market on April 1st, 2018. Lastly, their other project is a 40 unit apartment building with one to three bedrooms in the heart of downtown Concord. Matt is also marketing an old Victorian at 66 Prospect Street in Manchester with several tenancies in place with off street parking with an asking price of $319,000.
Stepfani Croteau of Allen & Majors Associates explained that they have offices in both Manchester and in Woburn, Massachusetts with fifty surveyors, landscape architects and transporation engineers on staff. Allen & Majors can provide free cost estimates as part of their program to assist the client up front. One of their more recent projects was the Silver Square development in Dover, New Hampshire classified as a mixed use endeavor. Their assignment was to complete the land survey services including wetland flagging, an existing conditions survey, a condominium plan, an ALTA/ACSM Land Title survey, foundation certifications, and a final as-built survey. They are currently working on a 66,000 s.f. medical facility and a 2,900 s.f. bank that are part and parcel of this development project.
Ken Boyer of Turn Cycle Solutions explained that their company is involved with all sorts of weatherization and energy auditing offering a wide array of services based on making your home or commercial property more energy efficient. He is especially seeking out property managers and/or condominium associations that are in need of retrofit to improve their energy conserving capital and environmental resources. As he just recently became employed at Turn Cycle, some of his responsibilities are retrofitting with attention to LED bulbs and shower head replacements to name but a few of energy saving items. Ken touched on a great rebate plan that offers incentives up to $4,000 to assist both a home owner or commercial property owner to get up to speed in cost saving implementations.
Lindsey Goodrich of Berkshire Hathaway is new to the commercial sector of the brokerage business and hopes to be able to offer more in the way of listings in the near future. Currently she is working with a karate studio in No. Andover seeking an 8,000 s.f. facility for his studio. We hope with the assistance of CIBOR that she will build on her commercial book of business.
David Fenstermacher of VHB is the Director of Land Development with some of his areas of expertise being in due diligence reasearch and analysis as it relates to wet lands specifically environmental assessment, mitigation and permitting, geographic information systems, land survey along with parking and roadway design. The concepts they provide can assist developers and business owners alike in the development process – some of their preferred clients are Taco Bell and Jiffy Lube as well as a selection of C stores in and around Southern New Hampshire. Their skills and advice are extraordinarily helpful for all types of retail development/municipal work and educational both private and public. VHB employ individuals with a vast wealth of knowledge and skill sets to help navigate and maximize to a finished product.
Ben Brown of Fulcrum Associates explained that their company is a family owned business handling renovation projects to ground up development anywhere from $1,000,000 upwards. He emphasized that their involvement early on in the process will do much to keep the costs in check and a more accurate budget for planning purposes. They are involved in all types of constructin be it in the corporate world or educational arena. They recently completely two new medical suites for the New Hampshire Spine Institute along with several box users and dental facility projects.
Scott Kingsley of Primary Bank is a commercial lender who conducts business not only in New Hampshire but in Massachusetts and Maine as well. Their bank has become known as extremely entrepeneurial as they are out in the marketplace networking with the business people of the community. Scott feels that getting to know the various players has assisted greatly in not only helping brokers and their clients but the bank as well. He recently closed a $6,000,000 deal as a result of one of these marketing sessions. He is a great believer in getting to know the players in the commercial real estate community. To his point, please bring your marketing materials to these meetings so that your product opportunity will reach a host of other clients.
Andrew Robbins of Colliers International touted a high end residential development opportunity in Tyngsboro, Massachusetts. This 55 luxury unit project has approvals in place and will be available to your buyer investor via sealed bids. For more in depth information, please contact Andrew. As Andrew is licensed in the State of Massachusetts he will be taking on many of the marketing assignments along the Massachusetts border towns and beyond. As a new commercial broker to CIBOR, we welcome him as he embarks on his new career with Colliers.
Jay Lee of Berkshire Hathaway announced that he has several cash buyers interested in retail development sites including three gas station sites. In addition he is seeking one half acre up to 5-6 acres for his cash buyers up to $10,000,000. Jay also is marketing a 3,800 s.f. office suite in Manchester. More details can be found on his web site.
Kathleen Lambert of The Masiello Group is testing the waters in the commercial brokerage practice and has recently been engaged by an auto dealership seeking to locate property. She is looking forward to networking with others to further her resources and hopes to become involved with CIBOR.
Ray Sirois of ServiceMaster Disaster hails from Rochester, New Hampshire but conducts business from Southern Maine to Northeast Massachusetts. Ray described a new procedure that will greatly assist in the removal of mold using a freeze dried treatment. And in addition, Ray also has expertise in cleaning up crime scenes most recently with a murder scene in Winchester, Massachusetts. Am sure he has tales to tell. He has been extremely busy with the recent bout of freezing temperatures; as a local franchise owner he can draw from other franchise ServiceMaster resources across the country if necessary and in the case of any emergencies requiring multiple services.
Bill Jean of Fulcrum Associates discussed their ability to do projects involving tenant fit ups right straight through to large medical or manufacturing facilities and individual medical suites. In particular Fulcrum can provide a proforma to brokers and their clients paving the way to a smooth planning, permitting and construction process. Prior to Bill working with the Fulcrum people, he was in the architecture realm which has assisted him greatly through the years. He also reiterated Ben’s commentary that coming in early in the process is key. One of their more recent accomplishments was collaborating on the Silver Square project with the City of Dover. Reporting on the educational offerings, Bill let the group know that on March 30tieth a three credit course will be held on the practice of 1031 exchanges by Lynne Bagby of Asset Preservation. And on May 4th there will be another optional course dealing with SBA, fit ups and alternative financing. Please watch the notices that Allison so diligently sends out. As for the second quarterly meeting the plan at this point is to engage a panel of developers to speak. Lastly, Bill requested that anyone interested in sponsoring an educational event to speak with anyone on the educational committee.
Robert Cruess of TF Moran handed out a great announcement piece on the opening of Trader Joe’s at Market and Main in Bedford. They will be the first retail store to be built in the new 350,000 s.f. upscale mixed use center. TF Moran provided civil/site and traffic engineering, permitting, land surveying, and landscape architectural services for the commercial developer Encore Enterprises of Dallas, Texas. Robert also announced that his son Dylan Druess was one of the the recipients of the 2018 Under Forty professional award. TF Moran also provided design and permitting for the new Millyard parking garage which will provide up to 1,700 parking spaces in the southern end of the Millyard area. As announced in the New Hampshire Union Leader, TF Moran was voted Best of Business in engineering. Congratulations on all fronts. Robert also made mention that their annual CIBOR barbeque will be held at their facility in Bedford on June 14, 2018 which is always a great event.
Louise Norwood of NAI Norwood Group is looking for a 4 to 5,000 s.f. mill type facility to house a local, high end specialty coffee roaster. They are looking in the Manchester/Bedford area and are seeking a unique environment. She and Perry Snow have one of the last development sites comprised of two acres immediately off of the South River Road corridor with utilities to the site. Located just behind the CVS Pharmacy at the corner of 8 Ridgewood Road and 4 Atwood Lane here in Bedford, this corner piece is well situated for medical/mixed use/office. The existing structure could be utilized or razed – offered at $890,000. Lastly, Louise pitched a listing represented by Chris Norwood and Judy Niles-Simmons namely a retail development opportunity at 20-30 Lake Street in Bristol, New Hampshire on .96 acres with two curb cuts at a lighted intersection at a price point of $595,000. As a result of pitchng this listing, a showing was conducted today with another showing on the horizon.
Many thanks to all of you who took the time to attend the Statewide Marketing Session. We certainly hope that you gained much insight and made some new acquaintances and perhaps brought some new business in your direction. Again, much appreciation to Steve Mangekian who provided us with a great breakfast and elaborated on his Alpha Inspection services.