Statewide Marketing Meeting Minutes May 2016

Statewide Marketing Session for May 2016

Submitted by Louise Norwood

 

The May Statewide Marketing Session was held on Wednesday, May 25, 2016 at the GMNBR headquarters/training center at 318 South River Road in Bedford.  This month’s breakfast sponsor was TF Moran with offices in Bedford and Portsmouth, NH.  TFMoran is a full service engineering and survey firm having professionals with over two centuries of combined experience across a broad range of disciplines, offering unparalleled knowledge and expertise.  Their professional team includes licensed surveyors, engineers, landscape architects, wetland scientists, LEED professionals, along with certified storm water specialists.  We appreciate the support TFMoran continues to offer CIBOR affiliates and broker members always volunteering either expertise; business after hours; sponsorships and providing breakfasts at our Statewide Marketing Sessions.  Thank you, Robert, for your ongoing generosity.

Robert Cruess of TFMoran announced that the Business NH Magazine named TFMoran as the recipient of the 2016 Best of Business (BOB) award in the category of Engineering.  TFMoran is honored to have received this award for the fourth consecutive year.  Congratulations, Robert.  Robert also made membership aware of ten (10) executive lots with wide panorama views in Bow.  The lots will have covenants in place to protect them in perpetuity in preservation for the heirs of the fortunate buyers.  He hopes to have the lots on the market by mid-July.  A great place from which to commute with the Concord capitol only a fifteen minute drive away.  The lots will be in the price range of $200,000 down to $75,000 with private wells and septic.  Lastly, Robert is excited that the Whole Foods project is now a reality with the former Macy’s site now going forward and promises to be a nucleus of fabulous stores, restaurants and high end office space.  The annual TFMoran barbeque will be held Thursday, June 16 at their offices at 48 Constitution Drive in Bedford from 5:00 to 7:30 at which time the Realtor of the Year and the Affiliate of the Year will be announced.  Good weather has been promised.

Leighton White of Leighton A. White, Inc. focuses on site excavation but also dabbles in the buying and selling of real estate.  He was pleased to share with us that they have quarried a large amount of stone with the smallest being 3/8” in diameter up to 3’.  They can provide stone for walls or to assist in erosion control.  They recently shipped 1,000,000 tons of product which is no small feat.  One of the projects they are presently working on is the new CVS on Nashua Street in Milford.  Their firm has the biggest back log of work they have ever had since the inception of their business.  Other services they provide are drainage; upgrades to playing fields and parking lots; street access; and improvements in loading docks which is only a small listing of what they are capable of doing.  Please go online to view the full menu of services.

Tad Dziemian of Neighborhood Energy brokers electricity and natural gas both in the residential and commercial arena.  His team can add value to all facets of the industry by price shopping and offering sound advice.  He has his finger on the pulse announcing that EverSource will be more competitive as it gains momentum in the marketplace.  Tad also mentioned that this is a very good time to install solar panels if you are so inclined.  He went on to say that they can offer concierge services in the form of tailor made consultations, strategies and customized reports.

Art Bonin of ARBonin Companies, LLC is in the market for properties for his investor looking for triple net leases up to $5,000,000 with a 7 ½% cap.  Art has two great listings one of which is the Pond View Restaurant being a well known landmark in the Town of Kingston.  The tale is that a family member made some substantial improvements to the tune of $100,000 without first seeking town approvals.  This one of a kind property is comprised of 10,000 s.f.  being directly on the water, take out, brewery possibilities and within a two minute drive to a large RV Park all priced at $895,000.  Art also has a great RV Park situated on 11 acres with a new pavilion, new swimming pool and new laundry for sale in Kingston (yes, one and the same) with a 95 to 98% occupancy and low management oversight. The owners are retiring – asking $1,050,000 with great cash flow.  Contact Art for more details.  Lastly, Art is marketing property on the Haverhill/Plaistow line across from MacDonald’s with a count of 40,000 cars per day – this would be ideal for a franchise.

Adam Johnston of Optima Bank and Trust which is headquartered in Portsmouth with other new locations amongst which is Bedford where Adam is located.    Adam offers a common sense approach; is versed in the SBA loan area and commented that the bank does not charge ATM fees.  A great new bank in our locale which can aggressively handle all your banking needs with loan opportunities.  Adam also chairs the New Hampshire CIBOR Cares committee and underscored that the second annual awards event will be held at the Puritan Back Room on June 6th from 5:00 to 8:00.  There are several sponsorships still available should anyone have interest.

Vincent Chestnut of Alpha Locksmith offers mobile services from his fully fit up vehicle and can come directly to the property  and perform most services right on site.  Vincent commented that in many instances customers want services and product that are exactly opposite of what they should be receiving.  He offers sage advice and credible recommendations from his past experiences and expertise in the field.

Rick Mulvee of Tower Realty has a cash buyer who can invest from 5 to 20 million dollars and will even consider a 2 million dollar investment.  He likes to hold the property for a four plus year term or conceivably up to ten years though he requires an escape plan.  In summary – patient money, aggressive, flexible and likes to keep his monies in the New England area.  Rick is now marketing eight (8) units in the 420,000 s.f. 150 Dow Street mill building.  The units are as small as 515 s.f. on up to 4,200 s.f. and have been priced for lease as low as $7.50 to $8.50 psf modified gross net of cleaning and electricity.  This is the final marketing of lease units.  Rick continues to market 101 Canal Street which is attached to Gold’s Gym.  The space was previously utilized as a prison facility so has many of the accouterments associated with a jail and are presenting a few challenges in marketing!

Don Marshall of Marshall Associates operates in New Hampshire assisting business owners who may or may not include their real estate as part of the business sales package.  Don emphasized that the marketing needs complete confidentiality for any number of reasons including competitors, employees and/or vendors.  Don provides the conduit for a business buyer’s due diligence and assists in offering an exit policy.  Don believes there are anywhere from 20 to 25% of business owners looking to sell their businesses.  Presently he has several types of businesses being offered to the marketplace – a kennel and dog training establishment; a gun shop and a furniture and equipment dealer specializing in educational product.

Deana Theriault of NAI Norwood Group is offering an office/retail property for lease at 1134 Hooksett Road comprised of 2,500 s.f. on the first floor at a lease rate of $12.00 psf nnn with the nets at $2.50 psf.  The high profile Sherwin Williams is a prominent tenant at this retail strip mall.  In addition Deana has a 2.29 acre lot at 1396 Hooksett Road in the performance zone being marketed at $350,000 with municipal services at the street.  Zoning provides for multiple uses at this site.

Jeff Lessard of NAI Norwood Group announced a new listing located at 21 Commerce Drive North in Bedford termed as an industrial flex building with 15’ clear ceiling height, with a full sprinkler system and fully air conditioned.  Lease rates in the $10 to $11 psf range.  In addition Jeff is marketing various office spaces at 175 Ammon Drive right on the airport tarmac at a rate of $14.00 psf gross with ample parking.

Jay Lee of NAI Norwood Group, Inc. has two cash buyers with the first seeking a business condominium with a tenant in place willing to spend from $300,000 to $500,000 and the other buyer being in the title arena looking for a standalone building from $600,000 to $800,000.  Jay also pitched 75, 85 and 95 Faltin Drive in Manchester near the U-Haul on South Willow Street.  Made up of three separate buildings, 75 Faltin is comprised of 18,805 s.f. with heavy power and is fully air conditioned; 85 Faltin is a 16,000 s.f. facility with a 16’ ceiling height multi or single tenanted and lastly 95 Faltin is made of up 17,662 s.f. with 18’ ceiling clearance and ten docks.  Additionally,  Jay is marketing 46 Route 101-A in Amherst which is an attractive standalone building comprised of 3,778 s.f. which can be subdivided – great visibility; great signage and boasts of 27,000 VPD.

Stu Arnett of Arnett Development Group specializes in planning and development on a community level.  Their mission is to provide solutions so that communities discover; implement and realize their better future by using their collaborative skills in land-use planning, community and economic development, site-planning and key-property re-development.  In addition they work with private foundations and trusts – they recently implemented a program related investment LLC known as L3C for socially oriented projects which can be regarded as a non for profit by the IRS.  Stu and his team provide development services for any and all community projects; advisory assistance in regards to state land use policies and will can also be called on for free presentations.

Doreen Austin recently joined the ranks of Optima Bank and Trust.  She is covering the area from the seacoast to the upper north shore of Massachusetts.  Doreen stated that the bank is a very creative, full service institution that will find solutions to your loan requirements and problematic issues.  Doreen generously offered two free tickets for the Fisher Cat game this week-end.  Hope someone took her up on her offer.

Bill Jean of Fulcrum Associates is a construction management company.  They can take on projects from $50,000 up to $35,000,000.  Their value is to become involved early in the process.  That along with a tremendous data base of various up to date construction and product costs, they can offer the consumer an exact cost analysis.  Add that to working with their in-house designer, a client/customer has the best of all worlds in realizing their fit-up and/or construction vision.  They have been very busy of late with a 30,000 s.f. medical facility; a large project for the Dyn Company in the millyard and were awarded recognition for their involvement in the Hannaford’s in Goffstown.

Chris Melanson of Harrington and Reeves announced their company’s open house being held Thursday, May 26 at 9 and 11 Trafalgar Square in Nashua catered by the Tide Water Co. with plenty of great door prizes.  Chris pitched the company listing at 207 Meetinghouse Road in Bedford comprised of 2,705 s.f. of Class A office space being marketed at $12.00 psf NNN having exceptional highway access.  An excellent location for either an office or medical user.

Tim Wege of New Star Properties provides property management oversight for condominium complexes, multifamily properties and/or all types of commercial facilities.  He personally likes to focus on projects where there are challenges and delving into solutions to overcome the issues at hand.  Tim went on to explain that New Star is a turnkey operation with talented specialists and should the need arise, he will partner up with colleagues in the real estate community or in the trades to achieve the desired goal.

Eric Crisman of Brookstone Builders is presently involved in a large federal project at the Pease Tradeport in Portsmouth.  This $500,000,000 (yes, you read it right) is highly confidential so there are no photos to display their work program.  In that it is a military undertaking, they need to remain under the radar.

Jeff Brown of TD Bank likes to present his banking talents in the form of case studies and his mission statement is being a trusted advisor to banking clientele.  In Jeff’s previous life, he not only was a CPA but also spent many years as a comptroller which he feels has had much impact on shaping his present role at the bank being sensitive to the needs of others.  TD also has ancillary services such as credit card processing.  Jeff finds that there are abundant opportunities for he and his colleagues to assist clients and increase efficiency for all involved.  Lastly, Jeff commented that we will see an increase in the interest rates!

Marie Bodi of CP Management drove down from Portsmouth to join the group.  Their property management team manages 4,000 apartment units and over 4,000,000 s.f. of real estate.  They still seek out other opportunities to become involved in new and exciting projects.  Marie did a shout out to Tad Dziemian for his extraordinary assistance in the energy cost savings field for CP’s clientele.

David Fenstermacher of UHB deals  in the civil engineering field including traffic studies and environmental oversight just to name a few of their in-house practices.  Additionally, they get involved in the permitting process doing a cross section of their business with national retailers with one of their specialties being the placement of the building on the actual site with his most recent project being the CVS project on Nashua Street in Milford.

Beth Chea of Wells Fargo SBA has a great portfolio of services to offer in the SBA field for both the term of the loan but also in the rates that can be offered.  They have the capability to provide businesses affordable financing.  Contact Beth for their full range of services.

Robert Helminen of Paxor Construction is a commercial general contractor and does much in the retail and restaurant venue along with smaller fit-ups.  We welcome Robert and hope that he will continue to join us ….

Jeff Boufford of Boyd & Boufford Insurance Agency with offices in Bedford and Amherst, is in the practice of general insurance brokerage.  Jeff explained that they will cover vacant buildings and have much knowledgeability for insurance protection in the self-storage facility field.  In addition to the insurance coverage for properties, Boyd & Boufford also cover individuals in the legal, architectural, plumbing, and real brokerage fields.  They can tailor make most any form of coverage and are highly specialized.

Brenda Litchfield of Concord Commercial has an investor interested in any type of property even including a mixed use venue with a budget of up to $500,000.  Brenda also has a very unique property on Hanover Street in Manchester known as the brick octagon building comprised of 9,000 s.f.  This gorgeous former home now has three apartments, some office along and with six parking spaces being offered to the marketplace for $450,000.  Lastly, Brenda is marketing 1.85 acres of land at 43 Fisherville Road in Concord at an asking price of $440,000.

Steve Labbe of Paradigm PHAC, Inc. owns an 11,280 s.f. free standing industrial building on 3.6 acres of performance zoned land.  The building has been recently refurbished with 1,800 s.f. of office and 14’ ceiling clearance in the warehouse section. With a large fenced in yard; serviced with public water and sewer and natural gas, this property priced at $1,100,000 will not last long on the market.  Steve also went into some detail in regards to the Liberty Utility Company who is offering an incentive program with a potential savings of $3,400.  In order to take advantage of the rebate program, customers need to do so during the summer months while the program is still valid.

Louise Norwood of NAI Norwood Group, Inc. pitched 24 Depot Street in Manchester which is directly across the street from the Verizon Center.  This lovely brick building was most recently the home to Zaboo’s Bar and Restaurant and is being offered to the marketplace for $674,900.  A hard to find office building investment is now available at 10 Chestnut Drive in Bedford.  This 13,690 s.f. building has well over 50% occupancy with an upside potential on the vacant units.  This hidden gem can be purchased for $895,000 – multiple units are currently being marketed for lease at $14.75 psf modified gross.  Lastly, 1234 River Road in Manchester also known as the “Stark House” situated on 2.14 acres is being offered for sale at $600,000.  Many redevelopment opportunities can be realized at this facility.

Thank you all for joining us at our monthly session and hope to see you again at the June meeting which is always held on the fourth Wednesday of the month.  And many thanks go to Robert Cruess for the fine spread from Panera Bread.

Have a safe and enjoyable holiday remembering all those who gave their lives so we may enjoy ours.

Leave a Reply

Articles and comments do not necessarily reflect the opinions of NHCIBOR or its members. For detailed information regarding the terms of use of this website, please click here.