Statewide Marketing Session for March 2017
Submitted by Louise Norwood
The March Statewide Marketing Session was held on Wednesday, March 22nd, 2017 at the Keller Williams Training Room at 168 South River Road in Bedford. This month’s breakfast sponsor was David Fenstermacher of VHB of Bedford which is made up of a combination of (60) professional engineers, scientists, planners and designers across their East Coast footprint. Working together, they offer a full array of multidisciplinary services that enable them to efficiently move real estate projects forward – from civil engineering to environmental assessments and permitting to transportation planning and beyond. By delivering technical excellence, maintaining strong relationships and working alongside clients and stakeholders, VHB professionals help develop implementable solutions; expedite approvals; and plan and design quality facilities that attract retailers, tenants, employees, residents and visitors – as well as investment capital.
Bill Jean of Fulcrum Associates, Inc. announced their newest staff member, Ben Brown, who will be assisting in business acquisition throughout Southern New Hampshire, Southern Maine and Northern Massachusetts spreading the word in other regions. As always, Bill likes to point out that involving the services of Fulcrum earlier on in the process is the best way of handling a project more efficiently and more economically in the long run. Fulcrum runs the gamut with a diverse portfolio of projects from the Fisher Cats stadium updated improvements; a 22 million dollar contract with BAE; and a 220 unit mixed use center in Nashua and a new Copper Door facility in Salem. Bill encouraged any attendee who has not yet joined New Hampshire CIBOR to become a member and consider being active on any one of the committees. This month alone fifteen new members joined the ranks of NH CIBOR.
Jeff Boufford of Boyd & Boufford Insurance Agency offers insurance packages for all types of commercial properties and in particular he offers a Lessor’s Risk insurance program for industrial, office and vacant buildings. Jeff is also a purveyor of pollution insurance especially at the time of a purchase or a pending purchase for either the current owner or buyer. In some cases the abutters may be the problem factor so Jeff pointed out that this type of coverage may be a significant savings as well as heading off a potential problem down the road. A price for this type of policy is surprisingly affordable. Jeff went on to explain on an entirely different issue that 50% of all computer systems get hacked and for a small business that can be catastrophic. To correct each file could conceivably cost $250 per file. The pricing for this type of insurance is quite reasonable.
Chris Melanson of Harrington and Reeves introduced their newest sales associate, Scott Doyle. One of their newest assignments is the leasing of 27,000 s.f. at 540 North Commercial Street which is one of the most pristine mill buildings in the mill yard. The space can be split into three distinct office suites and offers a goodly amount of parking as well as available city passes. Lease rates range from $7.00 to $10.00 psf modified gross. Ownership is JCM Properties. Chris also pitched a great medical office space at Exit 1 in Nashua near the Sky Meadow Golf Course. This excellent space is being priced at $17.00 psf modified gross.
Scott Doyle of Harrington and Reeves stated that he joined the firm in July of 2016 and commented that it has been quite a ride thus far. Scott went on to say that he and Deane Navaroli are working on a new listing at 157 Main Dunstable Road with incremental space of between 1,500 to 4,500 s.f. of high efficiency space which will be completely build to suit. Ownership will be on site. Scott is also marketing two office suites at 9 and 11 Trafalgar Square in Nashua. The 2,600 s.f. second floor suite has great views to the courtyard that was just recently redone and the 1,300 s.f. suite offers many benefits as well. The suites are being offered at $16.50 to $18.50 psf.
Suzanne Brunelle of Devine, Millimet and Branch explained that they have offices in Boston, Manchester, Concord and Portsmouth. She will now be the chair person for the commercial real estate arm. Congratulations, Suzanne. In addition Suzanne is also on the board for the Manchester Development Corporation which oversees a pool of money up to $75,000 per project just for the City of Manchester to cover financing gaps for properties that are especially in need of retrofit. Suzanne’s forte is in title work but also deals in commercial leases and Purchase & Sales agreements. Her expertise in the legal arena of commercial real estate takes into account due diligence even suggesting that a prospective buyer be sure that the property they intend to purchase is not in an endangered species habitat.
Jeff Brown of TD Bank announced that the Feds have raised the interest rate which indicates that the economy is definitely improving. He does not anticipate any increases in the next quarter. Their lending institution can be most creative and will not impose any prepayment penalties and can offer fixed rates. Jeff reiterated as he has in the past that though TD is a large institution who has the ability to buy deep and can aggressively offer a full litany of services, they also have a small bank follow up and small town appeal. It is advisable to get TD Bank involved early on in the borrowing process so the purchaser can get the best advice and structure the best loan package.
Chelsea Rogers of Creative Office Pavilion is a commercial real estate office designer. Her interior design skills help leverage the best possible use of space with creativity and efficiency. Chelsea also spoke about the importance of ergonomic office chairs and how they can eliminate and/or soften back issues. Dealing with this aspect of comfort often keeps employee retention. Please think of Chelsea if in need of high quality office furnishings.
Justin Powers of Chapman Construction generally focuses in a geographic range of Lowell North. Justin has recently completed a 40,000 s.f. retrofit for Velcro. Justin commented that their project managers also act as estimators as well so have great hands on ability to get your prospective customer/client a good outline in a timely fashion.
Jeff Lessard of NAI Norwood Group, Inc. has a cash buyer for a one to two acre site in the Salem area with good funding. Jeff also has a retail lot on Route 101-A in Amherst well suited for a 12,000 s.f. building. With 38,000 cars per day, this is a great site for one of the fast food entities. Lastly, Jeff wished to inform the attendees that he and Matt Bacon have an attractive business condominium at Overlook Park in Amherst comprised of 1,479 s.f. with an asking price of $170,000.
Kaylee Gendron of Office Interiors Ltd. specializes in contract design work offering visual concepts in the form of a 3-D renderings. Kaylee would be happy to provide your prospective client examples of various spaces they have completed in the Manchester area.
Brian Hansen of Team Engineering performs a host of due diligence services from which a prospective client can select from including structural and site assessment as well as a host of other testing. The building surveys which Team can provide will not only give peace of mind but a confirmation of what needs to be done and what is operationally fit.
Joe Friedman of Brooks Properties is perpetually seeking office and industrial properties along the I-93 corridor down to the Massachusetts border on the order of 10,000 to 100,000 s.f. Joe explained that Brooks Properties has the most up to date, brand new space at Exit 2 – all first class, the space is awaiting your client’s choice of finishes. Joe has also seen an uptick in the flex market/manufacturing sector. With spaces as small as 5,000 s.f. to 30,000 s.f. in one facility and 2,500 s.f. to 25,000 s.f. in another facility, the product is ready to go at $8.50 to $9.50 psf NNN.
Robert Cruess of TF Moran in Bedford and Portsmouth is a full service civil and structural engineering firm. Robert also provided us with an excellent article on the topic of Market and Main, Bedford’s newest retail/office/residential commercial development. This fully integrated park is the former Macy’s site on South River Road which is better known as a life style center. Their firm is also involved with what is called New Town on the former 600 acre Woodmont Apple Orchard site in Londonderry. Robert announced that their annual barbeque will be held on June 8th which is earlier than usual as there are other competing events later in the month. He expects that 200 people will be in attendance. FYI – Robert is now the membership liaison replacing Andre Tremblay, and Jeff Boufford is the membership chair. Consider joining NH CIBOR for all of the business and friendship benefits derived by belonging to a high powered group of professionals.
Rick Mulvee of Tower Realty has cash buyers who are particularly fond of properties with hair on them i.e. environmentally contaminated facilities or worse. As long as there is an escape mechanism they are fine with that; very patient money and will hold for at least seven to ten years out. In addition, Rick has hotel buyers who will purchase almost any type of hotel facility and in his words “overpay” anywhere in New England. In addition Rick has buyers for bank notes (any loans you wish to sell) from five million up to twenty million dollars. This is an active purchaser.
Lisa Genrin of ServiceMaster Disaster is based in Rochester. She and Ray Sirois came to the meeting to represent their company and explain the various menu of services they offer in times of a major disaster. They not only service southern New Hampshire but Essex County in Massachusetts. ServiceMaster is the oldest franchise of its type headquartered in Stoneham, Massachusetts. They are continually acquiring more franchises and are able to tackle any type of situation.
Tom Champagne of St. Mary’s Bank is a top notch commercial loan officer with the ability of putting transactions together in the financial neighborhood of $600 to $700 million dollars. For larger sums St. Mary’s partner with other institutions on a participation basis. Tom explained that their lending practices include SBA whether for full commercial rehab projects or new construction. He also made mention that Suzanne Brunelle does much of their closing work.
Adam Johnston of Optima Bank & Trust is locally situated right here in Bedford and has a funding for any of your fit-up needs in the commercial realm. He pointed out that their lending institution is most aggressive and match almost any other lending package from their competitors. Adam has a variety of clients that he works with who are actively seeking different types of investments to add to their portfolios. Speak to Adam to find out the nitty gritty. Adam announced that the NH CIBOR Cares third annual awards event will be held June 20th. He is actively looking for sponsors for this noteworthy event.
Marie Bodi of CP Management of Exeter specializes in third party property management. She pointed out that she is not afraid to get down in the trenches when duty calls. CP is a full service; 24/7 professional property management with very high credentials with many years in this business field. Marie announced that there will be a new member orientation session at the New Hampshire Association of Realtors this coming Monday from 1:00 to 3:00. Please contact Marie for details as this is mandatory for new NH CIBOR members.
Tim Wege of New Star Properties operates a property management company primarily in the commercial realm. He has typically expanded his business at the time of a commercial property purchase and finds that over a period of time owners who have self managed become weary of the responsibility and seek out Tim’s expertise. He is most interested in acquiring condo management assignments that perhaps have also been self managed. Should you have newly acquired purchase transactions in need of management oversight, contact Tim for a menu of his services.
Don Marshall of Marshall Associates is in the general business brokerage arena finding appropriate buyers for a variety of business owners. He touted an unusual set of circumstances with a demolition/site preparation individual who has seen an 88% growth in sales. A good niche business for the right person. Don announced that he will be presenting a business brokerage course at the Quarterly meeting at the SERESC building in Bedford on Friday, March 24th from 9:00 to 12:00 noon offering three approved credits. He will be teaching the basic principles of business brokerage and the associated methodology of pricing a particular business. Thank you, Don, for giving of your time and expertise.
Peter and Denise Sandberg of Concord Awning explained that they provide not only exterior awnings but also coverings and window shades for both residential and commercial properties. They work closely with property managers not only for new installations but in maintaining and repairing same. In addition they align themselves with architects; property owners and contractors who need their expert advice for any given project. They are often called in to inspect some retail applications and reanchor some existing awnings that get compromised in heavy wind and related snow storms. With the warmer weather coming, Peter and Denise spoke of the use of patio awnings and their ability to bring accents of color and aesthetics to old mill buildings in concert with color co-ordinating the use of related materials for high ceilings at function centers.
Vincent Chestnut of Alpha Locksmith brings professional security to your door. Please advise your new property owners or new tenants that all doors should be rekeyed. Vince can make life easier for the Landlord with master key systems that provide good peace of mind and the utmost of security. Vince travels extensively between Manchester and Portsmouth for any of the CIBOR members’ needs. Vincent will also maintain and display his wares at the Made in New Hampshire exposition in Manchester. Please visit his booth should you be attending.
Katie Kudzman of VHB, co breakfast hostess for this month’s meeting, does much work in the Boston area in the due diligence realm and remediation of same. Katie also conducts Phase I environmental assessments stating that this is one way to eliminate that risk prior to a purchase. As she put it “mitigate and modify” and have all of the records searched from local town files up to the state environmental department. She went on to say that if need be, VHB can conduct Phase II environmental analysis to determine any suspicious issues so there is full compliance with state agencies. Their company offers a wide variety of programs and is an excellent resourse for all of the integrated services for commercial properties including new and redeveloped retail/mixed use sites. Thank you, Katie, for providing a great breakfast spread.
David Fenstermacher of VHB, co breakfast host for this month’s statewide marketing session, explained that their company handles many of the high profile national brands such as CVS, Jiffy Lube and Taco Bell. Their company is based here in Bedford, NH with a team of more than (60) professionals, supported by 1,250 engineers, scientists, planners and designers across the East Coast corporate footprint. They offer a full array of multidisciplinary services that enable real estate projects to move forward more rapidly. David pointed out that their services include under one roof if you will span the spectrum from zoning; permitting; geographic information systems; all types of engineering including utility co-ordination; development planning; survey; landscape architecture; parking and roadway design and transportation engineering and related permitting. By having all of these services under one roof is not only common sense but is cost effective for the big picture. Many thanks, David, for generously providing an excellent breakfast.
Scott Kingsley of Primary Bank deals in a wide assortment of lending products. Scott brings twenty-five years of experience to the table making him a great resource in the banking field dispensing sage and cultivated advice to Primary’s clientele. Scott has been and remains a staunch advocate of NH CIBOR and we appreciate his participation and attendance at these meetings. He and his competing banker friends are all professionals in their individual, institutional banking expertise and we appreciate their attendance and networking at these events.
Andre Tremblay of Franklin Savings Bank specializes in commercial real estate lending anywhere in the six state New England region whether it be in the development lending facet of commercial projects; mortgage lending or just simple banking practices. Andre is currently working with three clients seeking apartment complexes somewhere over the forty unit hurdle preferably in Southern New Hampshire. These active buyers will jump right on anything you have and will review the financials, etc. in an immediate fashion. Andre also announced that NH CIBOR is soliciting articles for the monthly newsletter on any types of real estate related topics whether in engineering, survey, title, remediation, commercial lending and any other resource that would be of interest to the membership. Consider it free advertising. All articles should be submitted to Allison Ropes who will bring it to the attention of the CIBOR Board of Directors for approval. A great way to toot your own horn so to speak!
Ben Brown of Fulcrum Associates is now Bill Jean’s teammate seeking additional business whether a full tenant improvement job or a ground up development project. Fulcrum can broaden the scope of the construction or rehab a project by utilizing the services of architects and with inhouse current pricing tools at their disposal which is everchanging in the marketplace.
Jay Lee of NAI Norwood Group, Inc. announced that he is creating a unique networking group which will meet once a month on a round robin basis between the various participants’ offices sharing listings and buyers and tenant needs. This will be limited to commercial assocites, advisors and brokers. Please contact Jay if you are interested in participating. Jay pitched a property at 44 Franklin Street in Nashua comprised of 13,000 available square feet being marketed at $10.00 psf NNN with the nets purported to be $4.25 psf. Jay also shared with the group that he has an off market group of apartment complexes and duplexes ranging from 150 to 200 units.
Robert Clarke of Allen & Major Associates is a full service architectural firm servicing all regions from Manchester to Woburn, Massachusetts offering concept designs for whatever project being contemplated for a particular site. Not only do they cover all commercial venues but residential as well. And if an ultra survey is required, their office can also provide as one of their skill sets.
Erik Crisman of Brookstone Builders echoed what so many other contractors have voiced. They prefer to come into the process early and keep the client informed as construction, whether labor or materials, continue to increase weekly and monthly. They can provide invaluable advice/services to bring the finished product in at the most economical and advantageous price point.
Dave Gambaccini of KW Commercial wishes to share a listing he has taken at 1 Leonard Avenue in Hooksett for sale. This 2,486 s.f. office/retail/professional office building has great visibility on Route 3 and is zoned to be inclusive of a wide variety of uses. As the building has both municipal water and sewer and several parking spaces, the selling price is a moderate $220,000. Contact Dave for additional details on this multi-faceted building.
Louise Norwood of NAI Norwood Group, Inc. informed the CIBOR attendees of a new listing at 124 Bedford Center Road in Bedford. This newly constructed 5,900 s.f. business condominium is actually three condos of record and are being marketed for lease and/or sale in various increments. Please contact either Chris or Louise for details. Also, new to the market for the first time since construction in 1986, NAI announced that they have placed on the market a two story Williamsburg type office building at the Coldstream Office Park at 116 South River Road in Bedford. This building is made up of four business condominiums of record but is being offered in its 7,500 s.f. entirety at $900,000. Also being marketed by Chris and Louise is a well laid out 2,520 s.f. business condo with full basement at 360 Route 101 in Bedford for sale at $275,000 or for lease at $7.50 psf NNN.
Thank you all for taking part in this month’s statewide marketing session and hope that you took away some valuable information and that your input has assisted others. By consistently attending these networking events, you will be rewarded not only by additional business but making some great friendships. We look forward to seeing you in April on the fourth Wednesday. Please be sure to bring all of your marketing materials to share and to help the scribe in getting the information out accurately.
Enjoy spring with hopefully better weather around the corner.