STATEWIDE MARKETING SESSION for MAY 2015
By Louise Norwood
The May statewide marketing session was held on Wednesday, May 27, 2015 at the GMNBR conference room at 166 South River Road in Bedford.
This month’s breakfast was sponsored by Heather Rowan of Office Resources. A fine spread from The Purple Finch was enjoyed by all. Many thanks for providing a great breakfast fare.
Russ Poirier of Re/Max Bayside of Meredith, NH joined the group and announced his affiliation with ReMax in the Lakes Region. He is presently working on a landmark listing in the heart of Weirs Beach and the T.I.F. district none other than the historic drive-in theater. With water views, great visibility commercially zoned and a host of potential uses, these 12.62 acres is being offered at $2,500,000. Contact Russ for the parameters of the building requirements for that site. Laconia would love to see a new resort on that piece of dirt. Additionally, Russ has an investor desirous of a 10% return on a commercial/industrial investment in the three million dollar range.
Anthony Avrutine also joined us from the Re/Max Bayside group in Meredith. Anthony is marketing a 48,012 s.f. property for sale in the Lakes Region which is fully occupied by Wilcom Industries. The occupant would entertain a sale lease back. Please contact Anthony to get more details on this facility which is priced for $1,850,000 on seven acres. Also, Anthony is offering a motel with 24 rooms in five separate buildings at an asking price of $925,000 which cash flows at $110,000 for five months’ worth of work. Great potential.
Leighton White of Leighton A. White Inc. is back from Florida and has made a remarkable recovery. Welcome home Leighton. His company’s main thrust is preparing sites for construction in the heavy excavating field. They are presently working on a new quad for the Southern New Hampshire College. Check them out on Facebook. Leighton is working with Robert Cruess of TF Moran for a sixteen unit project for 55 and older residential housing on Route 122 (the Hollis Road) in Amherst.
John Turner of Team Engineering is in the throes of deciding to move his headquarters from Goffstown to the Bedford area. The main emphasis of his business is consulting on existing buildings. This winter’s weather brought so many heavy load snow events that he is still working on plus a wide variety of small projects. As for his monthly report on the Villa Augustine in Goffstown, it has not closed as yet but is nearing the finish line.
Jay Lee of Berkshire Hathaway/Verani Realty has two cash buyers as follows. One investor is looking for a 25,000 to 50,000 s.f. high bay industrial warehouse with the other investor being of Korean descent capable of a purchase in the 20 million dollar range with a high yield. Jay gave special thanks to Bill Jean for his expert opinion on an industrial site that he is listing. Bill took much time and effort with the project and continually does so for all friends and customers. Jay is also marketing a property at the corner of 101-A and Elm Street in Milford – the property is a three story building being marketed at $500,000 on a half-acre of land. Traffic count is 30,000 per day.
Deana Theriault of Berkshire Hathaway/Verani Realty is partnering with Jay Lee as a commercial agent. Deana is also on the CIBOR educational committee and urged brokers in particular to weigh in with Allison Ropes, Administrator for CIBOR, for educational suggestions in order that credits can be approved by the NH Real Estate Commission.
Heather Rowan of Office Resources with offices in Portsmouth, Manchester and Massachusetts specializes in the sales of commercial office furnishings. They have the capability of marketing all over the world. Their realm of expertise starts with working with a client providing them with generic plans for their individual requirements. Much can be gained with an introduction meeting to speed the process along. Their mission is to become indispensable to clients while helping to maximize the investment they make in their work environments. As for Heather’s CIBOR responsibilities, she is soliciting other affiliates to host after hours at a low out of pocket investment say with finger foods at a local restaurant. Many thanks to Heather and Office Resources for once again extending sponsorship to the Statewide Marketing
Kim Reagan of R.J. Finlay & Co. who owns the building at 166 South River Road where the marketing sessions are held announced that they have 180,000 s.f. available on the upper level at 160 South River Road in Bedford but can also provide spaces as small as 2,500 s.f. They are happy to provide test fit options for consideration. With recent common area upgrades and in a great, convenient location, this property is a stellar offering. Kim brought to everyone’s attention that CIBOR Cares is holding its first ever Awards Event on June 1st at the Courtyard Events Center from 5:30 to 8:30 at a cost of $40 per person. All proceeds will go back into the CIBOR Cares fund for a variety of worthwhile causes. The winners will be able to direct their winning funds to the charity of their choice.
Dan Barufaldi of the Dover Economic Development provided Dover guide books displaying all that the community has to offer. The Cochecho Waterfront Development Advisory Committee has published their feasibility study for a public park, retail and residential housing and offer smaller pods for development. Dan also handed out the latest May economic development report. Further, the zoning board of appeals has approved the project at Exit 8/Silver Street in Dover for a high end assisted living/medical center with coffee shop and assorted retail. Dan stated that as a result of a lead at the Seacoast Marketing Session a successful transaction took place so worth attending.
Rick Mulvee of Tower Realty has two key investors. One group has capital in the two to five million dollar range for long term investments up to a twenty year hold. He is very patient. The other is a five to twenty million dollar client who will purchase contaminated properties. This gentleman always needs an escape plan and usually sells out after a five to seven year hold. This investor is a true cash buyer. Rick will be listing a premier 3,500 s.f. end cap space at the Gold’s Gym complex in downtown Manchester at a rate of $12.50 psf NNN. An ideal spot for a spa/hair salon.
David Grappone of KW Commercial NH is handling the marketing of the former Dunkin’ Donuts at 4 Main Street in Manchester being offered at $3,500 per month NNN with 1,700 s.f. on less than one quarter of an acre. Dave also is leasing space in Hooksett next door to Giovanni’s – this warehouse, retail, office space is being marketed at $11.00 psf modified gross.
Lynne Bagley of Asset Preservation, Inc. joined us hailing from Massachusetts. Lynne specializes in 1031 exchanges and has a high degree of expertise in her field.
Paul Marin of Marin Real Estate Services, LLC covers Vermont, Massachusetts, New Hampshire and Connecticut in his quest to satisfy the needs of commercial real estate investors. He primarily deals in triple net, single tenant offerings. Paul has listings for several properties – in Newport he has 21,463 s.f. of retail/office development with 8,000 s.f. on the ground floor and 10,000 s.f. on the second floor. Rent can be negotiated. And in Claremont, he has a one acre piece for sale at a signalized corner for a retailer. With a drive through amenity, excellent location and with a converted Lowe’s now occupied by Runnings down the street, this is sure to be a winner. Paul also has a small retail offering in a new strip center in Claremont next door to Subway’s at $1,500 per month. Lastly, Paul has investors who deal strictly in the purchase of drug stores i.e. CVS, Rite Aids and Walgreen’s. Please contact him with your buyers and/or listings.
Robert Cruess of TF Moran announced that the annual barbeque is on for June 18, 2015. IT WILL NOT RAIN! Robert also advised all that TF Moran has merged with MSC Engineers in Portsmouth now offering a host of full services in the Seacoast area. In discussing the new development at the former Wayfarer site, Robert informed us that there will be a Whole Foods; Provident Bank; two restaurants and (73) apartments.
Wes Tator of New Hampshire Real Estate services prospective lessees and buyers by his wide range of advisory programs to educate his clients. He and Brandt Atkins have teamed up as the dynamic duo.
Brandt Atkins of New Hampshire Real Estate is working on a 1031 exchange for an investor seeking a three to ten million dollar industrial or office investment or retail. He prefers to be in a well populated area but has no interest in a residential project. His second investor can avail himself of from two to ten million dollars with primary interest in retail strip centers or industrial land. Brandt is also working on a forty unit town house project in the southern environs of Rochester near the aerospace center.
Tad Dziemian of Neighborhood Energy deals in the virtual energy department with most of his clientele being in the medium to large commercial business sector. He counsels clients on energy rates basing their decision making on comparing the various sources of energy – his focus is specialty services for commercial property owners and property managers. New Hampshire businesses and residents can still plan on very high utility rates for the remainder of 2015 and for 2016 although there will be some reprieve during the summer months. Don’t expect to see much in the way of lower energy prices until 2018 when hopefully natural gas will be more prevalent.
Vince Chestnut of Alpha Locksmith claims that no job is too big or too small and has expertise in all types of security locksmith issues. In addition he has the capability of salvaging older locking systems up to today’s standards should a client wish to do so.
Christine Burke of Burke Emergency Restoration deals in all types of damaged property issues including but limited to fire, water and ice dam damage. They have the capability of mitigating mold by drying the affected areas behind walls where the moisture has collected. To ascertain the scale of damage, they can come to the premises and offer an estimate free of charge or go further with an air testing program at the cost of $125. An independent lab will perform tests and provide a report of their findings. Christine handed out the “do’s and don’ts” of Mold which was extremely eye opening. In addition they can remediate smoke, soot and biohazard problems. They service from the north in York County, Maine to the south in Northern Massachusetts on a twenty-four hour basis/seven days a week.
Bill Jean of Fulcrum Associates, Inc. represents a full service construction company that handles from the ground up building to handling fit up projects as well. The earlier they can become involved in the planning process, the better off the client to plan the overall financial needs of the building project. They are currently working on a wide spectrum of projects – a medical facility on Route 101 in Amherst for the folks at Southern New Hampshire medical; they are also working on the New London Hospital; medical units in Salisbury; student housing in Durham and another in Maine as well as multi-family units in Exeter and Hampton. Bill also mentioned that the winners of Realtor of the Year and Affiliate of the Year will be announced at the annual TF Moran cook-out in June. A wonderful time to network with both old friends and meet new acquaintances.
Louise Norwood of NAI Norwood Group, Inc. is currently looking for up to 3,500 s.f. for lease in the Concord area for a nursing group with headquarters in Bedford but wishing to expand. Also being marketed is a 2,540 s.f. end cap unit at 18 Constitution Drive in Bedford best suited for medical and/or a professional group at a lease rate of $13.95 psf NNN. Multiple units are being offered at 9 Cedarwood Park in Bedford with units as small as 1,125 s.f. up to 4,400 s.f. at a modest lease rate of $8.00 psf NNN.
A great turn out and again many thanks to Heather Rowan for a delicious breakfast. Enjoy this lovely weather and see you in June.