Statewide Marketing Session for May 2017
Submitted by Louise Norwood
The May Statewide Marketing Session was held on Wednesday, May 24th, 2017 at the Keller Williams Training Room at 168 South River Road in Bedford. This month’s breakfast sponsor was Steve Jones of Building Envelope Specialists which is a full service building envelope consulting firm that focuses exclusively on the building exterior. Their interdisciplinary firm applies extensive experience and professionalism in handling and managing exterior building envelope problems throughout the built world with sound, practical and effective solutions. From new construction to historic properties, they use decades of experience investigating building envelopes to solving problems along with providing appropriate solutions and managing the construction process. With their experience, technical excellence, professionalism and integrity, Building Envelope Specialists have earned an outstanding and distinctive reputation in their field.
Robert Cruess of TFMoran Engineers is seeking a 1031 exchange in the vicinity of $400,000 to $500,000. Robert announced that TFM will be holding their annual awards cookout on Thursday, June 8, 2017 from 5:00 to 7:30 p.m. at their home office at 48 Constitution Drive in Bedford. The Realtor of the Year and the Affiliate of the Year will be announced that evening – Robert is praying for a sunny evening void of rain. TFMoran was highlighted in the High-Profile Magazine touting their landscape architectural services and civil engineering expertise. A great article underscoring their menu of services all working in tandem to deliver the most efficient and professional development outcome.
Bob Viel of The Bean Group announced that he has a cash buyer for a sports bar along Layfayette Road in Portsmouth all the way towards Seabrook having the capability of investing $2,000,000. He is also seeking 2,000 s.f. in the New Market area for a retail pet supply store. Bob has a great development opportunity in Danville featuring 112 +/- acres having been conceptualized for a 46 lot subdivision priced at $950,000. The property has been logged and awaiting a developer to begin construction. In addition, Bob has a 21.56 operating ranch in Hampton Falls all beautifully maintained and being offered at 1.6 million dollars. His inventory also includes an 11 lot subdivision at 262 Dover Point Road with waterfront directly on the Piscataqua River with fabulous views and deep water access with deep water docks. Excellent investment.
Tami Mallett of The Bean Group piggybacked on Bob Viel’s description of the GayLee Stables in Hampton Falls. She provided the group with a extraordinary advertising piece displaying the interior of the house and barn with a host of descriptive and well worded amenities on 21.56 acre horse friendly acres.
Leighton White of Leighton White Inc. of Milford explained that he sometimes dabbles in commercial real estate but the real focus is site excavation. He commented that he has worked co-operatively with TFMoran for many years on industrial site work projects. As their company owns a quarry, they are a large supplier of sand, stone and gravel as well as stone dust for a variety of building uses. Leighton commented that one of the Centrix branch banks is currently available off of Route 13 in Milford.
Vincent Chestnut of Alpha Locksmith always carries his tools of the trade which includes his drop cloth to keep areas clean after drilling. He is a true neatnik! Vincent also commented to the brokers present that if they should misplace keys that his mobile unit is always ready to come to the rescue.
Kaylee Gendron of Office Interiors Ltd. explained that their company has now been in existance for 31 years having much expertise in the space planning venue. They specialize in the Hayward line of office furnishings but offer all brands and price points for your clients. Kaylee went on to say that many clients cannot visualize a finished space and that is where their forte is of real value to put a plan into a format that gives a three dimensional look.
Don Marshall of Marshall Associates operates his business brokerage primarily from Concord south. Currently he has a donut business that is underperforming on Route 1 at the Seacoast. He feels that anyone wishing to get into the donut business could more than double the dollars with the right type of marketing venue using social media. Don encouraged everyone to attend all of the CIBOR networking events including the statewide marketing sessions as the opportunities derived from intermingling with other professionals is invaluable. Don extended an invitation to attend a business brokers event at Pease International Tradeport on Wednesday, June 6th from 2:00 to 4:00. If you have any interest in attending, please contact Don. The business that Don pitched this month was a demolition company that generates $6,000,000 with an equipment valuated at $2,000,000.
Chelsea Rogers of Creative Office Pavilion is a commercial contract dealer providing renderings for your client to envision the end result. She currently has a brisk Realtor relationship assisting brokers with their office/commercial furnishing and design requirements. The renderings which are part and parcel of their planning process are very realistic and are the basis in client’s decision making.
Jeff Brown of TD Bank can provide a host of specialty financing including but not limited to auto dealerships; working capital for business improvements; all types of refinancing and even a brisk business in the RV dealership industry. Jeff was proud to announce that he took part in fourteen performances of Fiddler on the Roof as the “constable”.
Wes O’Bryan of People’s United Bank is a new comer to our group. Welcome Wes. Many of the bankers who attend work closely with investors and users which is much the case for Wes who is in search of a two bay garage for an auto repair user. People’s United is active in the SBA 504 realm and works closely with the New Hampshire Business Finance. They have much expertise in assisting with start up loans and are flexible in their capacity of small business lending. He feels this is a great time if your client is in the market for loan assistance.
Eric Crisman of Brookstone Builders would love to quote on your client’s building/construction projects. With thirty years in the construction industry, they have a portfolio of business accomplishments adding to their expertise in the field. He especially made note of the fact that they deal in historic renovations and are well versed in preservation.
Chara Gannett of Building Envelope Specialists assists Steve Jones who provided the delicious breakfast repast. She explained that their company is a full service building envelope consulting firm that focuses exclusively on the building exterior. Their firm applies extensive experience and professionalism in handling and managing exterior building envelope problems throughout the built world with sound, practical and effective solutions.
Steve Jones of Building Envelope Specialists who generously sponsored our breakfast meeting, spoke of their consulting expertise geared only on the exterior of buildings. They work closely with architects and do much in the governmental world. If a building needs a full diagnostic work up due to inefficiencies, they are the folks to call for your due diligence and ultimate correction process to ensure proper functionality. Steve spoke of one building in particular that had issues from its inception in 1989. After the owners replaced the roof three times and repaired flashing, Building Envelope Specialists found where the actual problem originated from. Due to improper window installation, the leaking persisted; however, they found the issue and remediated.
Rick Mulvee of Tower Realty is on the prowl for environmentally contaminated property or properties that his investors can receive added value to. His investor clients are cash only and can move quickly on a project. There would be no mortgage involved. Rick does not have any listings at this time but has access to a 40,000 s.f. industrial building in Concord being marketed at $70 per square foot. This State owned facility has 17′ ceiling height; a 150 car parking lot and is divided into three sections. It would make an excellent call center and is available for sale or lease.
Ron Fredette has a client seeking a retail or office investment in the one million dollar range. Ron has a very salable 20,000 s.f. industrial property in Raymond sited on approximately ten acres of land. He is looking into the possibility of tax credits being available for the next owner.
Tim Wege of New Star Properties deals in commercial property management. He works collaboratively with banks, brokers or owners making sure a commercial property is appealing both on the exterior and interior. He is actively out in the marketplace looking for new accounts to manage.
Guy Compagnone of Chapman Construction Design has a portfolio of Boston clients but has a serious interest in the New Hampshire sector. A partial list of high profile clients are BAE, UNH and Velcro. They are a full service ground up construction company/fit up contractors having the expertise of working on projects as modest as $5,000 up to $20,000,000. Guy went on to say that he does not come to the table to compete but to work in unison with other contractors in the region.
Jeff Lessard of NAI Norwood Group, Inc. is working with a client requiring a 3,000 to 3,500 s.f. space in Nashua and would prefer to be located north of D.W. Highway. Jeff is also marketing retail space at the Granite Town Plaza in Milford along with a 14,000 s.f pad site and is currently seeking local or regional retail tenants. Jeff has a small 700 s.f. space available to lease at 22 Eastman Avenue in Bedford. The 6,000 s.f. building was recently sold to a day spa – this very appealing office building was renovated and is conveniently located just off the South River Road corridor.
Jay Lee of NAI Norwood Group, Inc. announced the formation of a “brokers only” networking group that he is hosting at his home office at 116 South River Road in Bedford. Jay stated that he enjoys coming into a listing assignment as the “third broker” as there are no false expectations on the part of the owner. Jay is marketing a 5,000 s.f. body shop on South Willow Street in Manchester which is sited on 1.1 acres of land with an asking price of $650,000. Lastly, Jay proudly displayed his Trump tie as well as Jeff Lessard’s Trump signature tie saying that business is good and with that pronouncement touted a one acre pad ready site in Hooksett being marketed for 1.1 million dollars and another one acre pad site just off of Route 101-A in Amherst capable of accepting a 20,000 s.f. building. All approvals are in place and is available for a ground lease program or for sale.
Chris Pascucci of KW Commercial is marketing a build to suit piece of dirt at 1140 Hooksett Road in Hooksett. Plans are underway to construct a 12,925 s.f. retail location having four distinct units. Opening expectation is summer of next year. Chris also has under his wing a lovely old house at 401 D.W. Highway in Merrimack currently utilized as a salon/day spa being offered at $12 psf. Nicely appointed with exposed beams, roof top deck and full kitchen.
Suzanne Brunelle of Devine, Millimet and Branch explained that theirs is a full service law firm having multiple locations in Concord, Portsmouth and Massachusetts. Suzanne explained that she has just completed her first reverse 1031 exchange i.e. buying before selling in a 180 day time frame. In addition, Suzanne has seen a lot of leasing activity in the past few months and in particular unusual leasing uses such as a charter school. She is versed in drafting and reviewing leases as well as purchase and sales agreements. Their firm has paralegals on staff that handle title work with a quick turn around.
Scott Kingsley of Primary Bank stated that their bank handles commercial lending in Massachusetts, New Hampshire and Maine. Scott went on to say that much business can be accomplished via e-mail and phone conversations. He is now working on a second generation of deals!
Joe Friedman of Brooks Properties is continually seeking office or industrial/warehouse facilities along the I-93 corridor anywhere from 20,000 to 80,000 s.f. for the Brooks Properties owners who are cash buyers. Joe made us aware of several office buildings and flex facilities available off Exit 2 in Salem and the N. Salem district. Joe also reminded the group of their Brookstone event center which is ideal for wedding venues, class reunions, conferences or any group activity in a parklike setting. Three large rooms can adequately house your event conveniently located on Route 111. Joe sees the new marketplace buying and repurposing building for churches, schools and more warehousing along with additional manufacturing.
Joe Campbell of North Branch Construction is Concord based explained that one of their larger clientele is Car Max having just completed a project at the former Walmart in Manchester. The company has been in existence for 59 years with their average business projects being in the three million dollar range. Presently they are working on a major LEED certified construction job for the National Guard to the tune of $10,000,000.
Deb Johnson of Lake Sunapee Bank with offices in Concord, Nashua and Milford can underwrite transactions in the $30,000,000 to $35,000,000 range. This was Deb’s first meeting with us with the mission statement that their banking institution is seeking borrowers but stated that even cash buyers need banking products as well. We look forward to having Deb join us again in the near future.
Aaron Gill of Bank of New Hampshire says their lending institution always has cash available and as their board meets on a weekly basis their approval process is very expeditious. For larger loan sums they have active participation with other lenders. In addition their hurdle point is in the $20,000,000 at which point they will partner with others. They also participate in reverse 1031 exchanges.
Andre Tremblay of Franklin Savings Bank mentioned that they have worked with North Branch Builders over the years and commented that they are a top notch general contractor commercial company. Andre went on to say that Franklin can provide long term financing with a 20 to 25 term amortization. On another vein Andre is seeking individuals who are interested in writing articles on topics of their expertise. It would also provide great exposure and shared knowledge to the CIBOR members. He has a few banking clients in tow that are interested in the purchase of apartment buildings comprised of a minimum of 40 to 50 units. Should you have an existing apartment product, please contact Andre with the pertinent details and he will send along to his clients.
Tom Champagne of St. Mary’s Bank explained that they are the first credit union in the state and currently have seven locations some with very commodacious meeting rooms. Their credit union is capable of providing real estate loans in the $6,000,000 to $7,000,000 range and anything above that dollar figure would have active participation with a partner lending group. For an owner occupied investment, Tom can provide a term sheet within an hour’s time. Tom mentioned as did various others that he is looking forward to the annual TF Moran cook-out sponsored by Robert Cruess and his family.
Ray Sirois of Service Master Disaster services the metro west area of Boston but in his case he is based in Rochester, New Hampshire. Their menu of services are varied and very comprehensive including some of the following: 24 hour mold remediation, water removal, water damage mitigation, reconstruction, structural drying, decontamination and all types of resstorative services. He asked that we keep in mind that all of their employees wear uniforms, drive marked vehicles and undergo background checks.
Adam Johnston of Optima Bank and Trust explained that their lending institution is capable of lending up to 4.5 million dollars on commercial real estate projects. They can also entertain loans on business equipment and tenant fit-up construction. Speaking on behalf of CIBOR Cares, Adam announced that the third annual awards evening will be held on June 20th at the Event Center at Mill Falls. He was appealing to all of the bankers present that CIBOR Cares raises money for local organizations that benefit the needy and in the past especially the returning veterans.
Jeff Boufford of Boyd and Boufford Insurance stated that their firm can insure a wide variety of property assets from self storage facilities, apartment buildings and all types of commercial real estate. They also deal in auto insurance and all types of vehicle related insurance requirements. Jeff is also our affiliate membership chairman so please contact him if you have a desire to join our trade organization. And as always we thank Jeff for allowing us to utilize his copier for attendance sheets and setting up the meeting room for our monthly meetings.
Brian Hansen of Team Engineering is part of an amazing “team” that are top notch engineers in the due diligence/building inspection arena. They most recently moved to Bedford Heights in Bedford and now have an even greater presence in the community. Their mission statement is to assist clients to better understand their buildings through inspection and design consulting services and to prioritize repair and improvement objectives and to design solutions that improve the efficiency and structural integrity of building components.
Louise Norwood of NAI Norwood Group, Inc. pitched a listing that is a free standing retail/office for sale at 337 Route 101 in Bedford. This unique building is comprised of 8,939 s.f. on 1.773 acres with a 28 space parking field. Asking price is $725,000. In addition, Louise and Chris have listed a double office condo at 80 Palomino known as Bedford Heights. This well run park has excellent reserves and has been thoroughly updated including new parking lot, replaced all of the roofs and vinyl sided the exterior of the units. This 2,560 s.f. former medical facility with certified, handicapped stair lift is being marketed for sale at $295,000 or for lease at $12.00 psf NNN.
Thank you all for attending and a special thanks to Steve Jones and Chara Gannett of Building Envelope Specialists for providing breakfast. We look forward to seeing you again on Wednesday, June 28th. In the meantime have a great marketing season and enjoy the return of this brisk economic upsurge.