Statewide Marketing Session for January 2019
Submitted by Louise Norwood
The January Statewide Marketing Session was held on Wednesday, January 23rd, 2019 at the Matheson Education Suite at 166 South River Road in Bedford. Our sponsor this month was a coordinated effort by Stepfani Croteau and Robert Clarke of Allen & Major Associates, Inc. A great spread of breakfast delights were offered to the group. Allen & Major Associates, Inc. (A&M) is a multi-disciplinary firm specializing in civil and structural engineering, land surveying, environmental consulting, and landscape architecture.
Heather Rowan of Kimball Furniture is the Market Sales Manager servicing Maine, New Hampshire and Vermont. Kimball’s award winning furniture inspires productivity and collaboration with an emphasis on design and sustainability. Their modular cabinets are very popular for all types of office configuration. By utilizing these modular units, clients will experience a substantial cost savings as well as tax depreciation. With a shortage of contractors in the work force, this is a great alternative – give this product a four to six week lead time. Overall Kimball handles the design and implementation of required furnishings for the health care industry, educational, residential application and a host of businesses across the spectrum.
Stepfani Croteau of Allen & Major Associates, Inc. who generously provided us with this month’s breakfast explained that their firm was established in 1973 with offices in Manchester, Woburn, MA and Lakeville, MA. Some of their most recent endeavors is the landscape project for the New Hampshire Audubon Society at the McLane Center. To that end there will be an article in the New Hampshire Home Magazine highlighting the landscape project. In addition one of their flagship projects is the Marriott Hotel in Massachusetts. Our civil engineering services include construction consultation; due diligence; federal, state & local permitting; feasibility studies and grading/drainage design.
Robert Clarke of Allen & Major Associates, Inc. who partnered with Stepfani on the breakfast spread works on auto dealership projects and is seeking land for a local Bedford site. One of the many benefits that Robert and his team can provide is the study of building placement on a parcel of land – this quick fit can enable a buyer or developer to ascertain what can be constructed on any given site to local code.
Paul Alfano of Allobar Strategies specializes in property tax abatement and appeals. Though Paul deals in both the residential and commercial realms, he has found an avenue to channel the residential side to an online service. Allobar charges a contingency fee and only invoices if they are successful in retrieving an abatement. The take away from Paul is that by lowering the tax expense, one can increase the value of the asset.
Scott Kingsley of Primary Bank announced that the bank has plenty of cash and offers all types of financing whether SBA, working capital lines of credit, commercial construction loans and equipment lines of credit. Scott practices in both New Hampshire and Massachusetts. He also reminded all of the attendees that the second annual summer mixer combined with the CIBOR Cares arm will be held either the first or second Thursday of August.
Joe Robinson of NAI Norwood Group, Inc. announced that he and Don Marshall have joined forces in the business brokerage arena. They are seeking businesses in which owners wish to divest themselves and in some cases the real estate as well. A 30% fee will be paid to the sell side. Joe pitched a new listing at 39 South River Road which has great visibility with excellent signage and great exposure for tenants. The property is comprised of 1,450 s.f. and is available for immediate occupancy.
Amanda Savage of North Branch Construction joined us for the first time. Their most recent accomplishment was the thirteen million dollar Rockingham Village Apartment project. Throughout the retrofit all of the apartments remained occupied and the entire renovation was brought in on time and on budget.
Bev Donovan of the Derry Economic Development Branch has been holding several different workshops to discuss the rezoning of the Town welcoming any and all ideas. Bev wanted to make sure that everyone was aware of a 47 acre parcel of land on the Londonderry/Derry border with water/sewer and gas. The zoning is wide open for a variety of uses. Please call Bev to get the details.
Ray Dugdale of Colliers Financial Services explained that the financial arm is a separate entity from the brokerage house of Colliers International. The goal of their firm is to provide loan placement and match the client to the lending institution that will give the best terms and conditions. Their goal is to solicit banks and/or credit unions based on the client’s requirements, the lowest rates and best terms available. The entire process is treated with the utmost confidentiality.
Steve Scheiner of St. Mary’s Bank offers lines of credit with the capacity of loan values from $100,000 to $8-$9,000,000. Should the loan amount surpass, they will partner with a participating lending institutions. St. Mary’s is the oldest and most respected credit union situated next door to CMC in Manchester.
Lindsey Goodrich of Berkshire Hathaway Verani is seeking retail property from Manchester up to the Seacoast – the investor is capable of transacting a sale up to $2 million dollars. Lindsey is marketing the former SNU property at 546 Amherst Street comprised of 17,000 s.f. The building is currently configured with multiple classrooms but could be converted to office or retail. With 42,000 vehicles per day along that strip, municipal water/sewer and gas and with 500’ of road frontage, the listing offers a host of possibilities.
Paul Daley of Usherwood Technology explained that their home office is based in upstate New York and their local address is 1200 Elm Street in Manchester. They are in the business of printers, copiers and IT assist. Their brands run the full gamut from Xerox to HP and all the top of the line household names we are familiar with. We look forward to having Paul join us again to go into more depth of their product line and services.
Jamison Bibaud of Masiello Commercial pitched several property listings with the first being 3,000 s.f. of commercial office space/retail store front/restaurant located at 41 Main Street in Goffstown. The lease rate is being quoted at $12.00 psf NNN. Jamison is also representing a retail unit at 250 Daniel Webster Highway in Nashua adjacent to Honey Baked Ham and a wealth of high end retailers in the immediate vicinity with Jordan’s Furniture being a close neighbor. Great space at $19.40 psf NNN. Additionally Jamison announced that a new retail and office complex known as Village Center will be ready for occupancy by spring. The 12,600 s.f. building will command lease rates as low as $16.00 NNN up to $25.00 psf NNN.
Suzanne Brunelle of Devine, Millimet is a New Hampshire licensed attorney who also practices in Maine and Massachusetts. Suzanne works out of the Manchester office though they have other branches in Portsmouth and Concord. Her forte is zoning, title issues, leasing documents and anything that is associated with real estate. Her specialties include but are not limited to compliance with New Hampshire and Massachusetts conveyance and financing laws and zoning regulations. Lastly, Suzanne is still seeking four acres of land for a client who deals in heavy construction equipment close to the New Hampshire border.
Connor Crowley of Devine Millimet is a new associate with the firm having recently graduated from No. Eastern University. His focus will be mergers and acquisitions. Connor went on to say that Devine is a full service law firm handling a host of legal matters but highlighted estate planning and litigation work. Welcome, Connor. We look forward to seeing you at our future Statewide Marketing Sessions.
Fred Richards of Masiello Commercial is looking for an apartment complex for his investor with the parameters of a minimum of (20) units with some upside potential. Fred is also marketing a former 17,000 s.f. elementary school at the corner of So. Elm Street and Queen City Avenue. In its current state the building is essentially classroom sized spaces – the marketing strategy is to promote a conversion to multi family. The sales price is $600,000 – call Fred for additional details.
Jay Lee of Berkshire Hathaway gave Paul Daley a thumbs up encouraging membership to assist in growing his business. Jay has been working with three groups of investors who are seeking retail sites i.e. three acre minimum. The hurdle point is up to $20,000,000 – please contact Jay with any redevelopment sites you may have or coming to market.
Don McFadden of St. Germain Collins attended our networking group for the first time. Welcome, Don. Theirs is an environmental based firm with their office headquartered in Portsmouth. Their mission statement is “Consistently providing innovative solutions to complex environmental issues, while maintaining a cost-effective and individualized approach.” They work with businesses linked to manufacturing, oil dealerships and brewers/distillers to achieve and implement Best Management Practices (BMPs) which is a great connection between regulations and voluntary actions.
Chris Pascucci of Masiello Commercial brought his entire team to the meeting – welcome all. Chris is working in tandem with Fred Richards on the asset located at 4 Elm Street Manchester. An additional sixteen parking spaces are being sought and approved to add to the existing fourteen parking spaces. Zoned R3!
Laura Nesmith of Colliers International and CIBOR Cares President publicly thanked Scott Kingsley of Primary Bank for coordinating the annual mixer and all of his endeavors in giving CIBOR Cares an extra bonus. Laura announced that she has a new 1,222 s.f. office listing at 169 South River Road in Bedford for sale at $185,000. Her 4,800 s.f. office listing at 707 Chestnut Street in Manchester has been reduced from $550,000 to $500,000 with fifteen parking spaces and a goodly amount of off street parking.
Rex Norman heads up the Economic Development for the Town of Windham. Rex spoke of a mixed use project in Windham known as Gateway Park. A Dr. Sharma is the developer you will need to contact for additional information – his mini Tuscan Village has an approved site plan for a two story building. The same gentleman also has 100 acres of land on Route 111 without water and sewer.
Rose Culver of Masiello Commercial is new to the practice of commercial real estate with much value added in that she is a licensed attorney and was a police officer. Rose is marketing a property at 401 D.W. Highway just in front of the storage complex and fourteen acres of land on a state highway in Pembroke.
Kathy MacKinnon of Masiello Commercial is also new to the fold and is attending the Statewide for the first time. We hope she will bring her print outs next time to share with everyone.
Joe Delmonte of Masiello Commercial deals in business brokerage specializing in hospitality and all related industries. His practice includes business sales and about 30% of his business brokerage having associated real estate involved. Joe shared with us a restaurant opportunity that is on the market for $695,000 which throws off approximately $300,000 cash flow to owner. You can receive the whole package upon execution of a confidentiality agreement.
Murray Beaulieu of Boosted Profits spoke of “leaving money on the table”. Murray’s specialty tax remediation company offers incentives that normal CPA’s are not aware of or have knowledge of. Murray tutored us on the inner workings of cost segregation and how it escalates depreciation to better the bottom line re tax savings. Murray is open to meet with you on a one to one basis; your group or in any venue you wish using his skills for the ultimate tax savings allowed by law.
Cassie Farley of NAI Norwood Group, Inc. is seeking a stabilized investment up to ten million dollars or an industrial building with at least 75,000 s.f. of high bay capacity. Cassie announced that a portfolio of car washes out at the Seacoast will be going out to market soon at a price of $3.75 million with a cash flow of $600,000.
Marilyn Charbonneau of NBT Bank explained that they have four locations in New Hampshire and have been around for 160 years. Marilyn expanded a bit more on the health savings plan that NBT offers and the benefits it provides as well as the cost savings aspect. She is looking forward to the Special Olympics fund raiser which is fondly called “The Plunge” – she will attempt to go up to her knees!
Hayley Klein of Hirsch & Co. is marketing office suites at 22-24 Greeley Street in Merrimack better known as The Medallion Center. The property is conveniently located minutes from Exit 11. A variety of spaces from incubator on up to 4,191 s.f. and a medley of in between sizes are available for immediate occupancy. Hayley also pitched several industrial/flex units that are currently available in Amherst along Route 101-A (Broker Owned) for lease only.
Mark Whelan of North Marq Capital offers a complete range of financing options for all types of commercial real estate. They serve the entire New England region and can arrange commercial real estate loans for any property type through their unmatched network of lending partners. They have plenty of cash to lend and are anxious to do business. They just closed on a $25,000,000 mill renovation in New Bedford, Massachusetts using the Fannie Mae Group. Mark explained that they are capable of doing extremely large projects and the ability to amortize out thirty years.
Nicole Canavan of Berkshire Hathaway Verani is seeking multifamily investments for her buyer in the six to eight unit realm within the Elm Street zone. The property could have other mixed use associated with the asset. Nicole is also marketing a 7,000 s.f. church on Main Street in Amesbury, Massachusetts. The property consists of a three bedroom home and is sited on a one acre piece of land. The plan is to redevelop the parcel into two distinct lots.
Ryan Theil of A1 Exterminators feels that the good networking venues that he has been participating in have been helpful in creating additional business. He and his team have much expertise in the extermination of bedbugs, rats, mice and other pests. Ryan works closely with property owners; landlords and property managers to corral the varmints and get rid of the vermin and destruction they create.
Roger Therrien of Service Credit Union expanded on their brand having thirty-five offices throughout New Hampshire and Massachusetts and a host of overseas facilities servicing the military. They pride themselves on being top notch commercial lenders with an assortment of terms to satisfy a wide array of individuals and businesses with the added benefit of holding fixed rates up to ten to fifteen years.
Drew Carter of RPF Environmental specializes in eradicating all types of hazardous materials from asbestos to radon to lead. They have a twenty-five year tradition focusing on solutions and strategies to achieve full compliance with industry standard and government regulations. RPF services school facilities, health care facilities, manufacturing & industry and residential. Drew looks forward to forging more relationships with his membership of CIBOR.
Marie Degulis of Secondwind Water is a certified water specialist and a skilled consultant in water safety and treatment. Secondwind offers analysis of water quality whether it be well or public. For a no cost, upfront review, call Marie and her associates to have your water source tested.
Greg Johnson of HG Johnson Real Estate who hails from the Keene area is licensed in New Hampshire, Massachusetts and Florida. Greg was pleased to present a fine, operating restaurant that specializes in seafood. Its location on the outskirts of Keene draws a following and with a land area of five acres, there is much upside development potential. Please call Greg for details and pricing. Greg also represents the owners of the Fairbanks Plaza which is anchored by Kohl’s, Walgreens and Aldi’s – seeking tenancies to infill with some smaller retail units such as florist, pizza shop or of similar stature. Greg went on to say that Keene is a viable city attracting a labor force from Vermont so he is actively looking for prime land with municipal facilities to attract more industry and commerce.
Demitris Georgiados is a new associate now affiliated with Greg Johnson with an assignment of leasing office space near the college. This is Demitris’ first visit to a CIBOR marketing session and we hope he will be back to join us on another occasion. Welcome.
Duane Himes of Weston & Sampson covers the gamut of engineering disciplines with civil, mechanical and structural being their specialty along with energy & sustainability, landscape and environmental. The firm was established in 1899 at which time they established a tradition of engineering excellence. Today they are a full service environmental and infrastructure consulting firm with over 500 professionals all committed to excellence in their chosen fields. In addition they deal with Brownfields and associated funding. They most recently completed a cleanup contamination in Jaffrey removing 2 ½ million pounds of lead contamination.
Eric Kizak of SFC Engineering wears many hats but is especially keen on specializing in camp grounds dealing with their sewerage and well issues. Other services include fire protection engineering and building envelope assessment and remediation. With expert advice and analysis, their competent staff can be a cost savings for the long run. From code review, accessibility consulting and retaining wall projects, they do it all!
Lisa Reehl of KW Commercial is marketing a highly visible property at 483 Daniel Webster Highway in Merrimack comprised of 1,500 s.f. for lease at $10 psf NNN on a three year term. In addition Lisa has yet another property at 297 Daniel Webster Highway at Exit 11 for lease. Lisa has a potentially high performing two acre site in Rochester near Lowe’s and Kohl’s which would be ideal for a gas station location. Look for them on NHCPE.
Kate Bristol of NewVo Interiors explained that theirs is a privately owned operation and have the capacity to do large scale projects whether it be for educational facilities or restaurants. In particular they pride themselves on custom wall systems that make for a very flexible environment that can change the pattern of one’s business model overnight plus saving substantially on hard walls. Kate expanded on the glass wall partitions saying there are tax advantages that also add to the overall value as they offer aesthetics, convenience, maintain versatility and changing up office spaces are easily accomplished.
Doug Martin of Colliers International who is our newly elected CIBOR President welcomed everyone and went on to say that these networking events are a great resource for all members. Doug is also marketing a handsome 12,000 s.f. office building in the downtown environs having a plentiful parking field of twenty-eight spaces and is being offered at $9.75 psf NNN. He is also working on the newly vacated Toys R Us location. With 30,000 s.f. this redevelopment program can house one or two retailers at a lease rate of $20 psf NNN.
Chris Kelly of Red Thread deals in commercial furniture integrating architectural flair and design. Being located at 650 Elm Street, their showroom is a wow. Their approach is to provide their clientele with advisors who are constantly researching different avenues of expertise, workplace sustainability and the most cost effective and efficient work spaces. Their product line runs the gamut along with the highly regarded Steel Case brand.
Bill Jean of Fulcrum Associates has been with the firm for some thirty years of which nineteen years being a member of CIBOR. He can vouch for the viability of the organization and as he has been treasurer for several years he is currently seeking a replacement. Fulcrum is a full service construction firm from ground up to tenant fit up, they are a diverse construction group with a high ideals and matching credentials.
Phil Geiger of Facility Outsources stated that his mission is to enable companies in their relocation process to not just assist in furniture purchase but to be involved and stay involved start to finish locating the space, configure the space, offer the resources of various expertise including design and fit up right straight through to the client occupancy date. If a tenant’s lease is coming up, his initial role is to canvas the marketplace and upon selection; draft a development design plan or hand off that process to an engineer; and select the furnishings working with well-known dealers. Phil has the resources to involve all makes of office furnishings including but not limited to Herman Miller.
Chris Peckham of Teknion (furniture) partners with Officeworks of New England touted the fact that they are leaders in the design industry and interface with Officeworks to better service their client base. Their design lines cover a wide range of products from soft seating, lighting, freestanding screens, ergonomic accessories and organizational items.
Steve Mangekian of Alpha Inspections covers all types of property from residential to commercial and all types of applications including Phase I and bank drawdown work. They have built up a national client list and have offices situated in Merrimack and Portsmouth. Steve attributes CIBOR and its great networking to his ever expanding business. Steve continues to explore and attract more lending institutions to add Alpha Inspections to their approved/preferred vendor list.
Carsten Springer of KW Commercial joined us from the Portsmouth area stating that his practice includes manufacturing and retail sales and leasing but he is no stranger to transacting deals in the timber harvest sector. Carsten is also marketing several land parcels – a 16 ½ acre site at the coast; three lots along Route 111 which front along Rockingham Road sited approximately five miles north of the Massachusetts border. They have excellent access, are cleared and leveled. Lastly Carsten is seeking ten to eleven acres for a retail/medical use. Welcome to Carsten and hope we see you at future meetings.
Ben Brown of Landry/French Construction spoke of the various services their firm offers from pre-construction with estimators who are right on budget; construction management; design/build; general contracting and tackling projects that require a vast amount of knowledgeability and skill sets. Ben is seeking an interest for a 112 room hotel in Kittery (Route 1) being offered at $17,500 per unit.
Jeff Boufford of Boyd & Boufford Insurance is a purveyor of commercial insurance with 80% of his business derived from the commercial sector. Jeff covers a wide array of insurance venues from retail, business spaces as well as vacant properties. As it relates to CIBOR, Jeff is the affiliate membership chair. If any of the attendees wish to join or know of someone who has interest, contact Jeff as we are building the ranks of the organization.
Nicole Gorski of Officeworks is a full service office furniture purveyor providing space planning and test fits for your clients. They handle clientele through the New England states from corporate work, higher educational institutions and/or health care facilities. Their innovative architectural wall system is designed with clean, crisp lines to harmonize with building interiors.
Louise Norwood of NAI Norwood Group, Inc. is working with an investor user who has designs on locating somewhere between Exeter and Manchester. The parameters and desired property would be 4,000 s.f. up to 10,000 s.f. with tenancies in place or with vacant space suitable for a tenant. Louise also pitched several office suites that are currently available at Coldstream Park in Bedford – three office suites are ready to lease – 1,250 s.f., 1,386 s.f. and 3,169 s.f. suites showcase a variety of office configurations for professionals seeking occupancy in an atmospheric park setting.
Many thanks to Stepfani Croteau and Robert Clarke of Allen & Major Associates for hosting January’s meeting. With the ever expanding numbers of our group, it would be a real plus if you could bring literature on your company, property listing information or any flyers, etc. to better explain your skill sets/services for more accurate reporting and communicating to the attendees.
Thanks to all and keep warm.