Statewide Marketing Session for January 2018
Submitted by Louise Norwood
The January Statewide Marketing Session was held on Wednesday, January 24, 2018 at our new location at the Matheson Education Suite at 166 South River Road in Bedford. With a packed house and standing room only, the group was treated to an excellent breakfast provided by VHB based right here in Bedford. Eric Gerade, Project Manager, of VHB represented this high profile civil engineering group sharing the many aspects of their business from due diligence research and analysis to traffic approvals and transportation planning and urban design. We appreciate VHB sponsoring this month’s marketing session.
Tony Fallon of Tony Fallon Architecture regaled us with a recent job completion for a branch bank in York, Maine which was the former home of the Chapel of the Assumption. This was an interesting assignment. Tony went on to say that he has been heavily involved with a faith based drug rehabilitation center in Ossipee, New Hampshire. Drug overdoses in the area were as high as one per day but two years later the count has dropped to one per month. An anonymous donor deeded some thirty acres which will now house overnight recovering individuals.
Scott Kingsley of Primary Bank specializes in commercial lending in Massachusetts and Maine as well as their home base here in Bedford. He has dealt in acquisitions since 1990 as well as SBA loans, commercial and business funding. Interestingly enough, Scott was able to connect one of the CIBOR brokers to one his banking clients with an ultimate $3,000,000 transaction. The flyers and sales packages are priceless commodities to bankers and their clientele.
Andre Tremblay of Franklin Savings Bank appreciates the leads received at this meeting in terms of properties being developed as he presents the listings to banking clients. He specializes in commercial lending for retail, office, development, subdivisions and self-storage. Presently he is searching out apartment complexes over fifty units for three borrowers. Andre wished to advise everyone that he has information on a thirteen unit motel in Northwood priced at $350,000 which could be utilized as is or repurposed for a development play. Lastly, Andre announced that Franklin does not burden borrowers with loan covenants.
Ray Sirois of Service Master Disaster is based in Rochester and has become one of our regulars. Their company services all of New Hampshire and northeastern Massachusetts. Ray underscored their mantra of “When disaster strikes, call us” and we will be there to reduce stress and save you money.
Tom Champagne of St. Mary’s Bank offers lines of credit from several hundred dollars up to seven to eight million dollars and if more funds are necessitated for a project, St. Mary’s will participate with other institutions. Tom went on to say that though they do not prequalify per se they will devise a term sheet within an hour to spell out an individual financing program. Suzanne Brunelle handles many of their closings and is highly thought of. Tom’s office is conveniently located at the facility on the West Side near CMC.
Steve Scheiner also of St. Mary’s Bank echoed Tom’s comments that they can turn a loan around very quickly in that all of their underwriting is done locally. Even if a loan package requires a signature from the Board of Directors, it can be done rather quickly. Steve went on to say that though commercial real estate is their main forte that they will extend lines of credit for business vehicles. Lastly, Steve pointed out that St. Mary’s commercial team offers competitive rates and ease of processing throughout the transaction.
Suzanne Brunelle of Devine, Millimet and Branch announced that she just became a share holder at the firm which now has 150 employees on staff. With offices in Manchester, Portsmouth, Concord and in Boston, Massachusetts, they are now the largest and most active business and litigation law firms in the region. Suzanne announced that as of January 1st, 2018 that the Power of Attorney form had changed. It would be advisable to contact Suzanne for more specifics. In addition the new federal tax laws imposed on January 1, 2018 have allowed for 1031 exchanges to continue; however, the personal property portion is no longer available under these new laws. Suzanne also sits on the New Hampshire CIBOR Cares board which is the non for profit arm of our trade organization. The next annual awards will be held in May so any favorite charity will be considered. The charity does not need to be institutional; a local need such a fire or flood will be considered.
Rick Vandenberg of Credere Associates, LLC specializes in redevelopment planning, engineering and environment sciences. They recently completed the remediation of a tanning site; an environmental assessment and remedial planning work for the former Eastern Fine Paper site in Brewer, Maine and another Brownfields project at the North Berwick Woolen Mill in North Berwick, Maine among others. Rick also explained that as environmental consultants they are part of the capital regional council that have $590,000 to loan for projects with very favorable terms. These funds will only be available until the end of September 2018.
Judd Newcomb also of Credere Associates spoke about grant funds that are available for phase I and phase II assessments. For more information on this program, please contact Judd. Credere specializes in assessing and managing the various environmental challenges that complicate cleanup, construction, adaptive reuse and Brownfields Redevelopment projects. They cover a wide range of geography from Massachusetts to Vermont up to Bangor, Maine.
Roger Therrien of Service Credit Union is designed for businesses that may not qualify for a traditional loan; funds from an SBA loan can be used for nearly any need your business may have. Roger went on to explain that they can fix the rate for ten to fifteen years with no prepayment penalty. Their business focus is not only in New Hampshire but have full coverage in both Massachusetts and Vermont. With thirty-five banks with fourteen in Germany and one in N. Dakota, they are well represented throughout the nation and abroad. They are a 3.2 billion dollars credit union with flexible terms.
Brian Hansen of Team Engineering deals both in commercial and residential site assessment as well as engineering and design services. Their clients include architects, designers, builders, remodeling contractors and developers. They review and refine construction design plans that need an engineer’s signature and seal in addition to providing structural or repair designs.
Chris Pascucci of KW Commercial is marketing a retail commercial site at Exit 11 in Merrimack. The property is currently a residential property but is zoned C-1 Limited Commercial and can be repurposed for office, retail, salon, insurance or real estate office. Listed at $349,900. Chris also has a landmark restaurant listed in Raymond known as The Pines situated on 2.82 acres of land for $495,000. Chris highlighted a property at 31 Elm Street in Manchester that is currently being renovated for lease. This 1,400 s.f. retail store front is being offered at $1,250 monthly. Chris has a cash buyer interested in the purchase of multi tenanted buildings up to $1, 250,000 with a cap rate of 7-7 ½% in New Hampshire but will not consider Manchester.
Mark Iannazzo of KW Commercial joined us for the first time and introduced himself as new to the business. We welcome him and hope he will be a frequent attendee.
Rick Mulvee of Tower Realty deals with properties that have hair on them i.e. old empty buildings in town that may have environmental issues. His investors are patient money and will hold up to ten years or beyond with a pocketbook of from five million to twenty million. He also is working with a group of investors who are seeking hotel portfolios throughout New England. They are cash buyers and can close quickly with a thirty day due diligence. Rick mentioned as an aside that he had worked for a year and half with a buyer who was to purchase a portfolio of ten buildings all located in New Hampshire. Unfortunately, for both Rick and the buyer, the purchaser was killed in a plane crash. Not a good story.
Robert Cruess of TF Moran is in the throes of developing a bank facility in Goffstown next to the Rite Aid. There are adjacent retail parcels also available for development opportunities. Their firm has been quite busy and as a result they are searching out project engineers in the structural vein. As Robert and his company are very entrepreneurial but equally as important are top notch engineers, they can be of assistance in site selection and future concept planning and may be able to connect you with a buyer.
Leighton White of Leighton A. White Inc. operates a site excavation business in Milford, New Hampshire with his son Dale. They have been operational for some forty years and will be moving into their new facility formerly owned by the Public Service where they will be able to house both their offices and garaging. They have an excellent reputation in service work for all types of industrial/commercial sites whether preparing sites, building retaining walls or rock walls. Their Wilton quarry provides much of their material while the two gravel pits provide every type of rock, gravel or sand for development projects plus they have their own trucking and equipment to get the job done. Leighton suggests that their web site be perused to see their laundry list of services.
Mark Lacoy of Allobar Strategies handles local and appellate real estate tax abatements for commercial real estate including industrial, retail, mixed use, special use and vacant land in New Hampshire, Massachusetts and Connecticut. The dates to remember for filing are March 1st in New Hampshire and February 1st in Massachusetts. Mark is the Senior Tax Consultant and explained that they work out a 20% referral fee arrangement. Consider Allobar Strategies as they are highly rated in their field with years of experience.
Matthew Routhier of Bedford Design Consultants is celebrating thirty years in the business specializing in landscape architecture, environmental services, engineering and surveying. They have the capability of providing conceptual site designs and schematics for your client’s review, obtain necessary permiting and deal with all types of environmental concerns.
Diane Lewis of TD Bank explained that their lending institution can provide financing for all types of commercial property. Diane’s specialty is in the health care industry assisting their clients with both business loans, funds for new facilities or retrofitting an existing medical center. In some cases there is a plan to obtain 100% financing for dentists, doctors and/or veterinarians. At present she is seeking a three acre site in the Hudson/Nashua vicinity to construct a 8-10,000 s.f. facility. Please direct any offerings to Diane.
Joe Campbell of North Branch Construction based in Concord wished to elaborate on the fact that they are about quality vs quantity and as they have been in the construction business for sixty years have a wealth of knowledge and expertise to offer. Their sphere of skills include construction management, design-build services, pre-bond services along with pre-construction services to evaluate a project, just to mention a few of their skill sets, paving a path for a successful end result. They are bonded up to $100,000,000 with a proven track record of completed projects on or ahead of schedule.
Aaron Gill of Northway Bank is newly employed at the bank and is looking to build a book of business with new clientele. We welcome Aaron and wish him well at Northway. Aaron stated that Northway deals in commercial lending and in particular really like income generating properties such as self-storage or any property that derives a steady cash flow.
Kim Matson of RH Thackston & Company is licensed in Vermont, New Hampshire and Massachusetts which she terms as the golden triangle. She is involved with several ski area owners that require conference centers for staff meetings and outsourcing to other corporations. Kim is marketing a prime commercial development location in Charlestown, NH having nine acres of leveled, stumped land ideally situated close to the lakes and mountains in a four season resort area priced at $199,900. As Kim travels a long distance to attend our sessions, she made a special point of her name and location base for us to take note of when thinking of doing business in that important tri state district.
Lindsey Goodrich of Berkshire Hathaway is new to this particular real estate group saying that this was her first time in attendance. She hopes to bring some new listings for our February session. Welcome, Lindsey.
Stepfani Croteau of Allen & Major Associates, Inc. explained that they have been working on an 1100 acre project in Middleborough, ten years in the making, endeavoring to bring to market a 50 + community with five miles of roadway. This gorgeous piece of land is being built in eight phases with stringent permitting oversight. Being in the business for forty-five years, their team is well heeled and much recognized in their field of expertise with many projects to their credit including the Silver Square Development in Dover, New Hampshire
Marie Degulis of Secondwind Water Systems explained that they can handle water treatment for both the residential and commercial sectors. They offer comprehensive technical management of small public water systems. In addition to providing 24/7 support and services, they act as your advocate, representing you and your systems in all matters concerning operation, health, water quality and compliance. One of their more recent projects was for a commercial water treatment center servicing a New Hampshire summer resort. Marie will be holding a credit course on water treatment as she is certified by the New Hampshire Real Estate Commission.
Deana Arden of NAI Norwood Group, Inc. touted a listing she is handling at 1015 Candia Road just off of Exit 6 comprised of 24,996 s.f. for lease at a rate of $5.85 psf NNN or for sale at $1,295,000. Deana is also handling two parcels of land one of which is in Hookset with 450’ of road frontage/2.27 acres at an asking price of $269,000 and the other is a two acre site located on Route 27 in Raymond being marketed for $159,900. In addition Deana has an off market twenty unit brick building which has been completely renovated with off street parking. Deana heads up our CIBOR educational committee and was good enough to provide the most recent update of courses coming up for 2018. For additional information, you can log on to the CIBOR web site, contact Allison Ropes or Deana Arden for more details.
Vincent Chestnut of Alpha Locksmith suggested that though the holiday season is behind us, a gift certificate for his services is always a welcomed gift. Vince went on to say that if you have recently transacted to purchase a building that would be time to rekey for future security. His motto is that professional security does not come cheaply so best to deal with a professional vs. having flimsy keys made at the hardware store.
Jason Settineri of Build-It Construction handles design inception to permit approvals working with their clients to provide full design, budget, municipal and logistics research. He highlighted the fact that by involving them early on is of real benefit to both parties to get the best possible outcome. Their mission is to align their client’s goals with an expertly planned, schedule conscious and cost effective process.
Eric Gerade of VHB, who was gracious enough to provide the group with an excellent breakfast, gave us background on their company’s long laundry list of services including but not limited to land development projects dealing with entitlements, zoning and permitting; enviroment assessment, mitigation and permitting; land engineering, civil engineering and utility coordination. Much of their focus is here in New Hampshire but they also spread their civil engineering wings all the way down the eastern seaboard. A partial list of their completed projects include the Merrimack Premium Outlets; the I-93 service area redevelopment in Hooksett and Bow; the Seabrook Commons Retail Development in Seabrook and integrated engineering services for CVS Pharmacies in many locations.
Blake Corbit of Boyd and Boufford Insurance introduced himself as Jeff Boufford’s newest protégé and is being tutored into the insurance world. This was Blake’s first meeting and we look forward to seeing him in the future. Best to you in your new career. You have a great mentor.
Jeff Boufford of Boyd and Boufford Insurance is now in his new business home across the street. Boyd and Boufford Insurance is locally owned and offers great coverage products for both the residential and commercial sides of the equation. Jeff also heads up the affiliate membership recruiting arm which he highly believes pays dividends in the form of not only friendships but in new business and ongoing business. Lastly, Jeff spoke about a great insurance coverage for older buildings that could be termed as “sick buildings” due to mold in the carpeting, wallpaper and duct work at a most affordable price.
Earle Rosse of Bank of New England deals in commercial real estate financing; C & I lending; investment development as well as large home subdivision funding from Boston to central New Hampshire. They can process a loan size up to $18.8 million with terms tailored to the specific transaction. Closings are typically 30 to 45 days after receipt of qualifying documentation accommodating a quicker close if necessary. This institution is locally owned and privately held celebrating over twenty years of commercial real estate lending.
Romeo Danais, a private investor, is working on completing a 1031 exchange for properties valued at $5,000,000 to $10,000,000. Romeo is also marketing one of his portfolio properties in Hooksett that has cross dock loading ideally suited for a trucking company. Please contact Romeo or his brother Dick Danais, a long time practicing commercial broker here in the Bedford/Manchester area. With the closing of several Sam’s Clubs the trucking is heading to the Seabrook area.
Ken Boyer of Turn Cycle Solutions is Nashua based with a business that deals with energy auditing and energy efficient construction. 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. Turn Cycle Solutions works in both the residential and commercial sectors for both energy efficiency and general contracting services.
Mike Turcotte of Turn Cycle Solutions added more insight into their overall business stating that they handle all types of renovations from painting & siding; finish carpentry; kitchen and bathroom restorations and even residential elevators. They are also seeking smaller, multiunit apartment buildings of five units or under in a less desirable condition in order to rehab. Their goal is to own fifty units within the next two years. Matt and his team just completed an ada compliant ramp for a local start up at 941 Elm Street in Manchester called “Boards and Brews”. He urged everyone to support this young entrepreneur.
Chris Wellington of Capital Regional Development Council deals in small gap financing handling anything from SBA 504 commercial real estate loans to direct small business loans and Brownfield loans; CRD has the expertise and experience to get the project financed. In some cases a loan can be secured with a 10% down payment or less. CRDC is a non-profit development corporation that provides a variety of economic development and lending services to businesses and local governments throughout New Hampshire. Lastly, CRDC works closely with the New Hampshire Community Development Finance Authority to identify and prepare funding applications, and administer projects that are suitable for Community Development Block Grants and financial assistance for same. Recent projects were the CVS near Bunny’s Superette using the SBA 504 vehicle and a building neighboring City Hall.
Matt Lefebvre of Elm Grove Realty is in the market for properties priced at one half to one million dollars situated in southern New Hampshire as far north as the central part of the state. Matt is also working with a client in need of between 2,500 to 3,500 s.f. to lease in Londonderry for a March 31st occupancy to buy or to lease. Additionally, Matt has a great North End investment of eight units filled with smaller, tenant-at-will leases which could be converted to a longer term. Asking price is $319,000. Elm Grove’s soon to be completed project on Pleasant Street in Concord will feature small office units for lease and a ground level retail space of 2,500 s.f. Contact Matt for more information on the mixed use property at the former Pearson Jewelry establishment on Elm Street and lastly, Matt is in need of securing 10,000 to 12,000 s.f. of industrial space for a gym user in Nashua.
Chris Prior of EnviroVantage located in Epping specializes in abatement, remediation and demolition. They deal with environmental hazards of all kinds be it asbestos removal, decontamination/infection control, duct cleaning, historical restoration, lead paint removal, mold remediation, PCBs removal or water damage clean-up. With over thirty-three years in the business and with bonding up to $25,000,000, EnviroVantage is a safe haven to remediate serious environmental issues and essentially operate 24/7 for any and all emergencies. And to their credit they have participated in many of New England’s most recognizable landmark projects winning the coveted Business of the Year award.
Max Rogers of GL Rogers Inc./Foundry Place LLC joined us explaining that they are in the throes of working on a large project on Deer Street in Portsmouth, NH. Their company deals in commercial real estate investment properties, management and development of high profile, large scale construction projects. Max joins us for the first time and we welcome him with the hopes of returning to future sessions.
Louise Norwood of NAI Norwood Group, Inc. introduced two of Joe Mendola’s selfstorage complexes one of which is a 74 unit facility comprised of 11,790 s.f. priced at $435,000 in Weare, NH and the other being a 118 unit offering totaling 19,000 s.f. listed at $850,000 in Naples, Maine. Please contact Joe at NAI Norwood Group for the particulars. Louise also pitched a property listed by Judy Nile-Simmons and Chris Norwood of NAI. This outstanding retail redevelopment opportunity is located at 20-30 Lake Street in Bristol, New Hampshire priced at $595,000 on .96 acres with two curb cuts. And, lastly, a newly vacated office suite has become available at Coldstream Park at 116 South River in Bedford on the second level comprised of 1,386 s.f. for lease at $15.00 psf gross (broker owned).
As always, some great information was shared with many old friends and new acquaintances highlighting the largest gathering we have had to date. Our new location may not accommodate us for the long run but we all agreed that the location is perfect; there is great parking and the furnishings easy to move. And though we were a bit crowded, we are hopeful that we can provide additional seating for overflow. Thank you for your patience as we work out the bugs on our new meeting place. I urge more brokers to participate as there is much to be gleaned from all those who attend. Please bring your marketing materials and any business literature to distribute. It will help immensely for all.
Have a great month and see you in February.
Think spring!