Statewide Marketing Session for March 2019
Submitted by Louise Norwood
The March Statewide Marketing Session was held on Wednesday, March 27, 2019 at the Matheson Education Suite at 168 South River Road in Bedford. Our sponsor this month was Debra Davis Thum of Bank of New Hampshire. Bank of New Hampshire has been committed to New Hampshire since 1831. They are the oldest and largest independent bank in New Hampshire.
Ned Raynolds of ReVision Energy serving the Portland, Maine, Upper Valley in NH down to North Andover, Mass. specializes in solar energy. Their company is 100% employee owned and operated. Ned is seeking long term relationships assisting clients to save with double digit returns. As Ned is a commercial solar consultant he can bring his expertise to the table.
Eric Kizak of SFC Engineering explained that their firm is a multi-disciplined engineering consulting firm located in Windham, New Hampshire. They do it all from roadway improvements, utilities and drainage design, building design and feasibility studies to name but a few. Eric commented that their sweet spot is small to midsize projects. SFC’s staff includes fourteen staff professionals including civil, structural and fire protection engineers registered throughout New England.
Matt Nastasia of Salem Five Bank comes with a long history of banking expertise with specialty financing for developers, commercial projects and C & I loan packages. They have the capacity to lend up to $40,000,000 with a sweet spot of one to five million. Matt tells us that the bank is very active in the state though they maintain a presence throughout the New England area as well as outside the northeast. They are currently buying out smaller regional banks to add to their ever growing portfolio of banking satellites. Along with their larger lending piece, they also are a preferred lender for SBA and 504 loan users.
Vincent Chestnut of Alpha Locksmith regaled us with many of his great quips saying that while bankers have lending limits he has no limitations when replacing locks and keys. Vincent also pointed out that each time a tenant vacates and is replaced by another, it is advisable to change the locking system. He can also repair doors that have closing issues making sure they are secure at any given time. With a mobile service, Vincent can be at any given location within a twenty-four hour period.
Dylan Jones of Salem Five Bank is also highly involved in the C & I lending realm offering some innovative financing solutions. He advised that now is a good time to purchase and/or refinance as the rates are relatively low. Since they are not publicly held and have no stockholders, they can make business decisions with a long-term perspective, building mutually beneficial relationships and maintaining a great degree of flexibility.
Heather Rowan of Kimball Furniture is a commercial contract furniture specialist. Heather has been in the office design arena for many years and has the pulse of the market offering design and fit up services to all types of clients whether office; educational; health care or any other commercial application but made it clear that she does not handle residential projects. On another level, Heather shared a recent experience with us that has left her with a lasting impression – she attended an event termed “Story First”. For more information on this life altering symposium, please contact Heather for additional details or to secure her services for her expert interior design services.
Lee Berard of Berard Martel Architecture, Inc. has been involved in a number of senior living projects and currently working on independent communities in both Bedford and Rye. They have run into a snag with the Rye project but hope to get the process back on track as the research shows that the facility is needed in the area and will have a positive impact on the community. Lee is well known in the Bedford area with his company fully engaged in supplying existing conditions inventory; master planning; project programming/facility feasibility; green design; agent/permit support and interior design programs.
Hayley Klein of Hirsch & Company pitched a 5,000 s.f. industrial/storage space she has listed at 419 Elm Street in Milford. As a former car dealership with one ground level loading door, the facility offers a wide range of uses on a well-traveled artery to the north. In addition Hayley offered information on a broker owned property at 3 Northern Boulevard in Amherst having two units comprised of 1,500 s.f. or the entire 3,000 s.f. can be available at $9.60 psf modified gross.
Lindsey Goodrich of Berkshire Hathaway Verani is working with a cash buyer seeking a three acre parcel suitable for a used car location willing to spend up to $3,000,000. Lindsey also touted her listing at 546 Amherst Street which is a former classroom environment comprised of 17,000 s.f. with 140 parking spaces. Presently the facility is for lease with Lindsey characterizing the location as a great redevelopment project. Please contact Lindsey for the particulars or log on to nhcpe.com.
Joe Friedman of Brooks Properties has a cash buyer seeking properties along the I-93/495 corridor up to Manchester in the 50,000 up to 150,000 s.f. range. Presently Brooks Properties have office leasing opportunities from 1,300 s.f. up to 40,000 s.f. with lease rates as low as $12 psf up to $25 psf NNN and their industrial portfolio with a minimum of 5,000 s.f. up to 40,000 s.f. with an average lease rate of $8.00 psf NNN. Additionally, Joe related that ownership is marketing a 50,000 s.f. property at 6 Wentworth Drive in the Sagamore Park at Exit 2 for $3,900,000.
Laura Nesmith of Colliers International let the attendees know that 15,000 s.f. of medical space will be coming to market at 2 Pillsbury Street in Concord. In addition Laura wished to alert everyone that she has a 1,222 s.f. business condominium available for sale at 169 South River Road in Bedford for sale at a purchase price of $185,000. Colliers is also the listing agent for 26 Whipple Street in Nashua for lease. The 104,000 s.f. R & D facility can be leased in increments of 12,000 s.f. up to 40,446 s.f. Much of the space is open with 20% office environment. Lease rates can be secured by contacting Bob Rohrer.
Jess Hepler of William & Reeves is a newcomer to CIBOR and the William & Reeves brokerage house. He was formerly director of development projects and vice president of leasing at a Boston firm. We look forward to having Jess join us again with some shared listing materials. In his prior life Jess assisted more than 500 restaurant users and franchise individuals logging in many air miles earning those frequent flyer points.
Stepfani Croteau of Allen & Major Associates, Inc. is a multi-disciplined engineering firm practicing civil and structural engineering; land survey; environmental and traffic engineering to name but a few. Stepfani pointed out that this is good time of year to obtain permitting; conceptual designs and switch uses if need be. Their goal is to remove the bottlenecks and bureaucracy, create space and deliver a better experience which exceeds expectations.
Matt Lefebvre of Elm Grove Realty is working with a cash buyer seeking multi-family properties anywhere from one half million up to $5,000,000 and will consider a turnkey scenario or a value added opportunity. His other cash buyer is on the hunt for a 6,000 s.f. up to a 10,000 s.f. office building preferably new construction. Matt has commenced marketing an (18) unit converted motel in Northumberland which was constructed in the 1960ties but has now been fully rehabbed being offered at a purchase price of $725,000. Also of note, Matt is marketing two buildings in the Hardy and Amherst Street district zoned as commercial and of medical grade. Lastly, two of their multifamily properties one of which is twenty-seven units and the other twenty-nine unit have both recently been reduced by $100,000. Please call Matt for the particulars.
Jay DelMonte of Masiello Commercial is a specialty business broker focusing on the hospitality arena. Jay has a number of businesses available offering a regionally recognized child care center in Londonderry for $649,900; a motel facility in Alton being marketed for $630,000 and a fine dining restaurant in Hillsborough County at a purchase price of $319,900 just to name a few of his listings.
Don McFadden of St. Germain Collins deals in environmental, EHS compliance and engineering. Their environmental risk assessment team is made up of twenty individuals that operate in the Portsmouth, Concord, Southern New Hampshire and Southern Maine vicinities. Having completed hundreds of Environmental Site Assessments, St. Germain ensures they’re in accordance with ASTM Standards. They have a long track record with banks, attorneys, land trusts and potential buyers of commercial properties who hire them to perform ESAs from small corner gas stations to parcels over 100,000 acres in size where aerial reconnaissance is necessary.
Ray Sirois of Service Master Disaster services most all of the New England states. They are experts in emergency fire and water restoration services with technicians who utilize advanced restoration techniques and state of the art equipment to completely restore property and contents. No task is too large to tackle even handling hoarding situations; mold remediation and salvage issues caused by a host of disaster situations. Service Master Disaster is a recognized and reliable business in their field of expertise.
Jamison Bibaud of Masiello Commercial specializes in tenant representation and office leasing. Jamison is marketing 10,828 s.f. of office product at 71 Spit Brook Road in Nashua at lease rates of between $11.16 to $12.62 psf modified gross. As the property is situated less than one mile to the Massachusetts border, the office spaces offer much convenience and a host of nearby amenities. Lastly, Jamison wished to advise the group of a 3,000 s.f. free standing, former Cumberland Farm facility located at 41 Main Street in Goffstown. It would lend itself well as a fitness center; bar or any number of retail uses. For lease at a rate of $12.00 psf.
Rose Culver of Masiello Commercial pitched a 2,300 s.f. mixed use property in Hudson. The three story building has easy highway access. In addition Rose is seeking a property location for a dance studio in Salem who she claims is in dire need – they would entertain a purchase or lease. Rose is currently marketing Ballard’s at a purchase price for the real estate and business inclusive at $550,000 or $499,000 without the business component.
Chris Pascucci of Masiello Commercial is seeking a medical office building (net leased investment) for an investor willing to purchase in the 2-3 million dollar range. Chris is in the throes of marketing Village Center Place at Indian Rock Road in Windham. With Enterprise as one of the anchor tenants, the move is on to attract high end retail and office users and in particular a restaurant use. Landlord will be aggressive with the initial tenancies. In addition Chris has listed 9 Madden Way in Derry which will be taken down with a year or more so a shorter term lease for this 2,500 s.f. high bay property is being sought to fill the time gap. And if you have a client seeking a salon, Chris has two businesses he is currently seeking buyers for one of which is located at 401 Daniel Webster and the other location is at 281 Daniel Webster in Merrimack.
Elliot Smith of The Provident Bank spoke of leveraging to obtain a cash flow up to $25,000,000. Elliot is available to meet with clients who wish to purchase businesses and in particular has an inventory of buyers looking to purchase businesses so keep this on your radar. Lastly, Elliot added that he can assist in new construction financing utilizing tax exempt bonds.
Zachary Brock of Warren Street Architects explained that their team has a diverse range of projects to their credit as far flung as Mississippi up to Maine and Vermont designing affordable housing projects to dental offices to municipal facilities. Their interior design staff have logged in much experience in all sectors from FF & E selection, landscape architecture, historic preservation and graphic 3D visualization.
Jay Lee of Berkshire Hathaway Commercial is working with several investors seeking anything from a one half acre of land to strip centers and retail projects. In addition Jay is also marketing two office spaces in a well-recognized building known as One Club Acre Drive up to 3,800 s.f. being marketed at $17.50 psf modified gross.
Brian Hansen of Team Engineering explained that they provide building engineering services solving problems for homeowners, property managers, condominium associations, insurance companies seeking assistance, attorneys and contractors. They not only have the capacity of conducting inspections but do property condition assessments, construction monitoring and capital improvement planning. Please see the testimonials on line that vouch for their reputation.
Murray Beaulieu of Boosted Profits (tax remediation) explained that the new tax law took away some of the business deductions though the government has incentivized developers and investors to invest wisely in the commercial real estate realm. To give everyone an example he pointed out that had a $2,000,000 real estate investor heeded his advice he could have saved that individual $230,000. In addition Murray can assist in providing additional cash flow to overcome overwhelming construction costs. Please keep him in mind when tax consequences are of a concern.
Nicole Canavan of Berkshire Hathaway Verani is working with a cash buyer wishing to purchase a six unit plus multi family with a 7% or better cap rate east of Elm, West or No. End of Manchester. She is also marketing a residential property at 740 Daniel Webster Highway in Merrimack that is sandwiched in between two auto body shoppes. Nicole has quite a background story to tell in that she was once a property manager in London and handled multiple positions in Iceland.
Deb Davis Thum of Bank of New Hampshire who was kind enough sponsor our breakfast meeting is also a new CIBOR affiliate. Our thanks and congratulations on becoming a new member. Deb handles commercial and C & I lending. With 1.5 billion dollars in assets, Deb explained that the Bank of New Hampshire can handle loans up to 21-22 million dollars. Their main focus is in New Hampshire, Maine and Massachusetts. Further, the bank can finance all types of real estate and offer lines of credit where need be. Lastly, Deb wished to point out that Bank of New Hampshire is the oldest and largest community bank in New Hampshire and postures themselves on building lasting banking relationships.
Nancy Parker of Resilient Buildings Group conducts energy audits, LEED consulting and certification along with commissioning and retro commissioning which can optimize your building and its energy system. She works closely with Liberty Utilities primarily on municipal projects. Nancy explained that the rebates are substantial and that they have the staff to assist with the paperwork. It is advisable to apply for those rebates preconstruction. Nancy has the resources and contact names to help your client swim through the paperwork, explain the codes and bring high efficiency to any project.
Amanda Savage of North Branch Construction concentrate their construction portfolio primarily in New Hampshire and Massachusetts. Case in point they have worked practically full time on contract work for Stoney Field Yogurt just finishing one project and moving on to another assignment. She was proud to state that they have been in business for some sixty years and have never failed to meet a contractual dead line. They also work on non profits namely “Community Bridges” assisting them with restoration projects. Lastly, they retain thirty carpenters on staff so there is no lack of man power.
Marie Degulis of Secondwind Water Systems handles the testing and remediation solutions for residential, business and public water system. With decades of experience the goal is to conduct testing by a certified water specialist and install failsafe systems. With spring’s arrival, many issues can surface from a winter’s worth of critters decaying in a water system. Marie wished to let everyone know that the next CIBOR education seminar will be held in Portsmouth on June 28th from 9:00 a.m. to noon.
Romeo Danais, private investor is “his own cash buyer” always on the prowl for industrial buildings only in the southeast quandrant of New Hampshire in the realm of a minimum of 40,000 s.f. upwards with an appetite to spend from $4,000,000 upwards to $10,000,000. Romeo is currently marketing for lease his former B.J.’s facility in Hooksett at Exit 10. The approximate 110,000 s.f. industrial building would be ideal for a warehouse facility as it is but a quarter mile off the highway. Romeo also has 29,000 s.f. of light industrial space with a 30’ clear ceiling height and three docks and drive in doors located at 101 E. Industrial Park at a lease rate of $7.25 psf NNN.
Ron Bowman of ASAP Fire deals in life safety products of all types including but not limited to fire extinguishers; automatic sprinkler systems; kitchen fire suppression systems as well as industrial, residential and commercial power washing & detailing (their process even has the abiliity to remove graffiti). Their headquarters are located in Tyngsboro and with a sixteen year service record, they have much expertise in their field. Ron can also provide on site inspections to assess what emergency equipment is required by code. The scope of locations where they operate span both New Hampshire and Massachusetts.
Mary Jane Ricker of The Provident Bank has been in the banking arena for many years and involves herself in the hospitality business; construction projects; C & I and franchises. She also touched on an import/export component to their financing platform. Mary Jane has a large following and bases much of her ongoing business through referrals and past partnerships. In addition Mary Jane finances businesses and new businesses to the marketplace. In the case of clients who have sold their enterprises, The Provident Bank has the ability to keep the monies in a business reserve account. Their local facility is located next door to the newly constructed Friendly Toast and Trader Joe’s. Their commercial financing packages can be offered at a fixed rate for twenty years.
Ryan Theil of A1 Exterminators with offices in Nashua and Dover advised that with spring’s arrival that this is the time to think about spraying for ticks which are so prevalent in our area. Ryan has offered to educate anyone on the dreaded Lyme disease if they are not familiar with their devastating effects. He was pleased to report that their company completed a job in a four unit commercial building in Nashua to exterminate bed bugs which for most vendors would be a four day process; they were able to complete in one day.
Scott Kingsley of Primary Bank primarily operates in the New Hampshire and Massachusetts playing field. Scott explained that Primary is very entreprenurial in their commercial lending approach whereas their team assists business owners to be more successful with terms and conditions that work in this economic climate. Scott also wished to announce that the second annual mixer will be held at Brookstone Park on August 11. Last year there were a total of 150 people who attended but now that Laura Nesmith of Colliers is adding on the CIBOR Cares component, 250 people are expected!
Jeff Boufford of Boyd & Boufford Insurance commented that he takes care of the coverage on two of the properties that were pitched at the session. One of his specialties is providing insurance to condominium associations as well as helping the tenants and/or owners with their individual insurance requirements. Jeff is also responsible for enrolling affiliates into the CIBOR fold and would be happy to assist anyone who wishes to become a member walking them through the application process.
Robert Clarke of Allen & Major Associates handles all facets of engineering including zoning, survey, civil and traffic. With comprehensive insight they give their clients the best decisions and mitigate their risk. They have recently been contracted and have successfully completed the project known as Paddock Estates in Boxborough, Massachusetts consisting of 244 units, clubhouse, dog park, basketball court and outdoor recreation area. They are currently working on Capital Place and have the ability to furnish quick fit up plans for a potential tenancy. Additionally Bob is working on a project on Route 125 in Plaistow which is a combination of retail, business office and self storage.
Bill Jean of Fulcrum Associates with headquarters located in Amherst, stated that their team can handle everything from Tenant Improvements to ground up development. They feel that early involvement taking advantage of their performa/cost assessment will save dollars in the long run. They have many successes from reconstructing the Pennichuck Junior High School to signature buildings like the Copper Door and LeBelle Winery as well as a host of medical facilities, Fulcrum gets the job done. They stake their successes on a high degree of integrity, expertise and excellent reputation.
Dale Abbot of VHB is well versed in assisting with site selection utilizing current demographics, geographic information systems and analytics to surface the highest and best uses. In addition Dale works on traffic studies to ascertain the volumes at any particular day and time. With the new drone technology and the presentation of three D renderings, a site can be evaluated with great accuracy and clarity.
Dave Fenstermacher of VHB further delved into their multi discipined services explaining that as part of their protocols they can provide wetland surveys; phase I environmentals; landscape architecture; curb cut studies as well as transportation engineering and access permitting. The integration of all their skill sets result in stronger solutions, faster approvals and reduced project management requirements for their clients.
Steve Mangekian of Alpha Building Inspections headquartered in Merrimack and a location in Portsmouth now has six full time inspectors and four support personnel. They cover the entire state and travel to other New England states with a recent case in point an inspection of a motel complex along the coast of Maine as well as a host of convenience stores. Steve has been reaching out to bankers as he wishes to attain a “preferred vendor status” wherever possible including bank draw downs. Their services include a wide array of applications from builder’s warranty home inspections, water quality, septic system inspections, VA pest inspections and Phase I environmental site assessements as well as a wide spectrum of other services.
Louise Norwood of NAI Norwood Group, Inc. passed out materials pertaining to investment properties listed by their firm. From retail opportunities to prime office invetment along with several medical “Clear Choice MD facilities” to industrial, there is a wide venue of product currently being marketed. In addition Louise pitched a high visibility, professional office space comprised of 2,878 s.f. at 169 South River Road at a lease rate of $13.50 psf NNN. Lastly, an attractive 2,520 s.f. business condo is for sale at the Pine Tree Place park at 360 Route 101 in Bedford at a realistic price of $259,000.
Again, we wish to thank Deb Davis Thum from Bank of New Hampshire who stepped up to the plate at the last moment to sponsor our breakfast meeting. We welcome Deb as a new member and recent sponsor. A great breakfast was enjoyed from Extra Touch Gourmet.
Much was gleaned from a good exchange of information from all of the affiliates and brokers alike. Our numbers are growing with good networking for all. Look forward to seeing everyone the fourth Wednesday of April.