Statewide Marketing Session for October 2018
Submitted by Louise Norwood
The October Statewide Marketing Session was held on Wednesday, October 24, 2018 at the Matheson Education Suite at 168 South River Road in Bedford. Our sponsor this month was none other than long time CIBOR member Leighton White of Leighton A. White Inc. (site excavation and broker) from Milford, New Hampshire. Their business mantra and business mission is integrity, fairness, prompt and capable service and name recognition in the site excavation field.
Chris Kelly of Red Thread explained that their dealership is one of the leading retailers that carry Steel Case. They are adept at designing office space and have found that the new type of demountable walls are more attractive and economical for the long run with much flexibility. They partner with firms to satisfy every need and want bringing good price points to the table. As reception areas are the first impression, Red Thread can provide design services and build out the space with a variety of looks with efficiency and panache. Coming from the Hartford, Connecticut marketplace Chris brings knowledgeability; current trends and value added to the Manchester community.
Tad Dziemian of Neighborhood Energy has now been in business for some ten years lowering energy costs and has outperformed all of their expectations with consistency and a high degree of personal service. Tad was brought up to make his pennies scream so he is very cognizant of saving not only customer change but dollars. Unitil continues to raise their rates and the winter rates for gas is escalating as well. Tad advises that you sign a contract for at least an eighteen month period for electric and in the gas arena a five year contract is the way to go. As all of us agreed, Tad pointed out that the theme this month was “Share and Give” as much discussion was had re CIBOR Cares and other related New Hampshire charities.
Brian Hansen of Team Engineering deals with structural engineering inspections finding methods to remediate issues for all types of commercial and residential properties. Brian brought forth a favorite charity close to his heart which deals in assisting people who have had serious damage to their residence called the “worker bee fund”. He will be following up with an e-mail to all of the attendees with information as to how to contribute to the “Go Fund Me” site.
Laura Nesmith of Colliers International who on behalf of CIBOR Cares spoke of the most recent 10th anniversary event held at Fratellos in Manchester. The kitty collected that evening was $7,000 – anyone wishing to submit applications to Doug Martin to make a request for their favorite charity are invited to do so. Laura pitched on behalf of Doug Martin great mill space at 150 Dow Street from 2,500 s.f. to 80,000 s.f. with price points from $10 psf to $15 psf NNN. In addition Laura wished to alert the attendees that she has a group of small offices at 904 Hanover Street, Manchester should you have customers and/or clients looking for hard to find small units.
Joe Friedman of Brooks Properties leases, manages and provides tenant improvements for a high volume of flex and industrial properties along the I-93 corridor from Manchester to 495. Joe went on to say that Brooks Properties has flex/medical space in the City of Salem at Exit 2. Lastly and especially at this time of year, Joe announced that their event center known as “Brookstone Park” offers an excellent venue for not only weddings but a social center for upcoming Christmas parties; anniversary and birthday gatherings as well as any type of group function. Please contact Christy Bellamy of their office who is the event coordinator.
Chuck Thibedeau of IRR Real Estate now manages a host of properties all the way down to the Providence, Rhode Island vicinity. Chuck is handling the property management at 8025 S. Willow Street in Manchester letting us know he has 3,000 s.f. that can be delivered by January and will be serviced by a brand new elevator offered at very economical rates. In addition Chuck is working with Larry Hirsch in leasing up a 20,000 s.f. industrial building at 26 Clinton Street in Hollis with the smallest increment space at 5,600 s.f. with tail board loading.
Hayley Klein of Hirsch & Co. is marketing a successful operating restaurant with real estate in the greater Nashua area comprised of 7,000 s.f. with two acres allowing for ample parking and expansion being offered at a sales price of $700,000. Hayley also pitched an office space with residence located at 33 Bedford Road in Merrimack with has been the home office of a dentist for the past forty years on the market at a price of $575,000.
Larry Hirsch of Hirsch & Co. is seeking 5,000 s.f. of retail space in Londonderry for lease only. Larry is also marketing some light industrial units as small as 1,500 s.f. up to 3,000 s.f. being offered on a monthly basis at $1,200 per month with separate utilities. Medical use is also permitted at this park. Another one of Larry’s listings is located at 9 Executive Park Drive in Merrimack with two suites available for lease – 3,501 s.f. or 7,166 s.f. at an economical lease rate of $9.95 psf plus utilities which is quite a bargain for this attractive brick clad building.
Matt Lefebvre of Elm Grove Realty is seeking for his investor client a multi tenanted property from half a million dollars upwards to ten million dollars. His other investor client is focused in on Southern New Hampshire with a cash pocketbook of two million dollars. This buyer would consider car washes; motels or small strip malls. Matt is marketing a 5,600 s.f. retail space at the 102 Plaza in Hudson at a lease rate of $8.50 psf with cam charge of $2.50 psf. He is also looking for larger, credit tenancies to fill other retail locations. Matt went on to explain that Elm Grove has their own in house construction company as well as their own property management team. With their team in place, they specialize in multi tenanted dwellings with an inventory of these properties for three family, six family, thirteen family or up to twenty-six family units for sale. If you have specific needs, please call Matt as he may know of something coming to market.
Paul Alfano of Allobar/RETaxRefund.com handles both residential and commercial tax abatement services. Paul pointed out that he will compensate CIBOR brokers a 20% referral fee and only charges upon completion of a successful abatement. Paul is rolling out a new tool which concentrates on residential real estate housing. This free tool will be featured on Zillow with other enhancements. He is hopeful that the application which will provide comps, cover letters and associated materials to be ready for prime time by November 23rd if not sooner. Paul invited all to attend their open house at 4 Park Street in Concord Thursday evening, October 25, 2018 from 4 to 7.
Jay Lee of of Berkshire Hathaway Commercial made an observation that the big box stores/big developer types are seeking the services of New Hampshire based brokers now as they have the pulse of the marketplace. Jay has two cash buyers one of which is a veterinarian looking for at least 10,000 s.f. up to 15,000 s.f. of space in the Manchester vicinity; the other is looking for a variety of different properties who will complete his due diligence within thirty days and close quickly. Lastly, Jay has three sites suitable for a banking purposes – one in Nashua, one in Londonderry and one in Salem. Also, please keep in mind that Jay has a highly professional, 4,000 s.f. of office available across the street for The Manchester Country Club.
Suzanne Brunelle hails from the law firm of Devine, Millimet and Branch and is dedicated to helping clients from the Purchase & Sales, to the permitting process, financing and everything in between as it pertains to the legal aspect of a real estate transaction. As Suzanne has much knowledgeability on the LLC tax fronts, she frequently hosts seminars to acquaint individuals with these ever changing tax laws. Her work has led her to involved, complicated cases one of which she cited was a recent case for air space re the SUNH parking garage in Manchester.
Joe Campbell of North Branch based in Concord pointed out that as the labor force has thinned in New Hampshire they have taken part in career days at the Fairgrounds in New Boston hosting some 1,500 students. Joe was proud to say that they have been in business for sixty years with a staff of seventy employees among which thirty are carpenters. One of their more recent job accomplishments is Shooters Outpost in Hooksett. Their company handles large commercial, institutional portfolios with another recent undertaking being 388 units in Seabrook.
Leighton White of Leighton A. White, Inc. who graciously hosted our meeting has been in business since 1970 both in the real estate brokerage field as well as site excavation. Their team handles every type of aggregate in any size and form and in particular Leighton pointed out that they now have a new sand pit with copious amounts of septic sand. Septic sand is very scarce and makes for good winter sanding as it is free flowing and does not gum up the road crew’s plow trucks. During the course of their business life, they have done much work for Fulcrum – 95% of their work is focused on commercial/industrial with a strong presence in Concord South; Exeter West and the Keene area. For any questions, please call his son Dale.
Denise Barry of Top Sell Realty has been licensed for the past twenty-four years and while primarily practicing residential she owns commercial property in Nashua. She currently has a rehabbed condo which she is marketing in Southern New Hampshire for $150,000. She is currently working on a build out at a restaurant on Manchester Street.
Marie Bodi of CP Management represents the owners of a third party property management company providing management services for some 4,000,000 s.f. of property. Marie is also highly engaged with CIBOR Cares and is promoting that we as members all participate in this very worthwhile endeavor.
Ryan Theil of A1 Exterminators explained that the company has been in business for some sixty years and has a great track record in eradicating bed bugs which has plagued the apartment rental community over the past few years. Their practice takes them throughout the States of Maine, New Hampshire and Massachusetts. Their mission statement is that they employ highly ethical personnel made up of a team of six technicians. The company is a family based business exclusively owned and operated with a sterling reputation.
Kathryn Bristol of New Vo Interiors offers sixty lines of office furnishings from acoustical panels to any type of office piece needed in an office setting. Their 18,000 s.f. of high end showroom at 60 Rogers Street holds a treasure trove of viewing among which are demountable glass walls, Henry Miller chairs and ergonomic chairs. They have the capability of providing space planning for all configurations. They just held an event in Manchester for continuing education for designers to maintain their credits.
Heather Rowan of Kimball Furniture is a purveyor of a wide variety of office furnishings for tight budget clients, middle of the road and high end users. She deals on the manufacturing side so is neutral based. Heather offers a range of modular furniture and equipment for the health care industry as well as kitchenette and break room pieces. With new sustainable materials a company can expect a seven year write off – the clean look of today’s cabinetry is not only nice looking but has broken records in sales. Again, please keep in mind that Heather has a neutral opinion so deals with many product lines.
Mark Whelan of North Marq Capital joined us from 115 Federal Street in Boston. Mark’s main focus is sourcing debt and equity opportunities to be presented to a targeted set of capital sources through the creation of financing summaries which will include financial analysis of the subject property, project and market data and sponsorship information. They have established strong, long-term relationships with institutional providers of capital, including life insurance companies, Freddie Mac, Fannie Maw, FHA/HUD, Wall Street and local, regional and national banks. They just arranged financing for an investment in Naples, Florida for a Manchester based client. For an innovative solution to any real estate financing challenge, contact Mark at his office.
Bill Jean of Fulcrum Associates explained that they are a construction management team that have been in the market for a long term establishing relationship. They are actively engaged in both the commercial/industrial vein but funnel much time on retail projects. They continue to seek active sites at lighted intersections in Southern New Hampshire and Northern Massachusetts as well as multiple pad sites and acreage ten acres or larger. Bill was pleased to announce the fact that their company was recognized by the New Hampshire Builders Association with two awards. As for CIBOR Cares, Bill stated that Marie Bodi and Scott Kingsley are instrumental in providing donation forms to members wishing to apply for the funds to be directed to one’s favorite charity. Bill also agreed that access to the labor market is thin and that they are continually seeking skilled employees.
Steve Mangekian of Alpha Inspections is in the practice of both residential and commercial building inspections including Phase I environmental inspections. They work co-operatively with bankers and insurance companies and property managers. While they have four inspectors presently on staff they expect two more to come onboard and another being trained. Their menu of services are robust from HVAC, electrical, structural, roof, plumbing and due diligence review to name just a few. Though older buildings are quite the challenge, they most recently completely the inspection of two bed & breakfasts one of which was CIRCA 1700 and the other a group of five buildings made up of 16,000 s.f. These jobs were as a result of CIBOR referrals. Steve also made mention of the fact that he is seeking to acquire existing inspection companies either due to retirement, health or other reasons to grow his rapidly expanding business model.
Scott Kingsley of Primary Bank spoke about promoting a summer mixer to raise money for CIBOR Cares. At the same time these gatherings are a great resource for networking. Primary Bank really hit the ground running as it is only the second bank approved by the FDIC since 2010. Primary has generated national attention for its pursuit of re-establishing local community banking values and being very entrepreneurial in spirit.
Jamison Bibaud of Masiello Commercial Associates highlighted a new retail listing he has at 257 D.W. Highway consisting of 5,000 s.f. The property is the former Sticks Furniture adjacent to The Honey Baked Ham in Nashua. There is an abundance of signage so please contact Jamison for additional details. Jamison joined us for the first time and we welcome his participation in future meetings.
Louise Norwood of NAI Norwood Group, Inc. pointed out a new listing at Building D at Coldstream Park comprised of 1,250 s.f. quality office with two executive offices, large conference room and kitchenette. Attractively furnished and ready for occupancy at $1,800 per month gross. Filling in for Judy Niles-Simmons, Louise explained that NAI Norwood Group represents the Manchester-Boston Regional Airport in marketing approximately twenty-six sites for land lease in the towns of Manchester and Londonderry. This portfolio can be land leased on an individual basis some of which have municipal utilities. Lastly, while marketing individual offices has its limitations, it can also provide long range benefits as recently a suite of offices was leased and a business condo sold as a result of these smaller office listings.
We wish to thank Leighton White once again for his generous participation in providing a great breakfast and being a long time partner of ours through the CIBOR community of affiliates and commercial brokers. Look forward to the next month’s marketing session – please bring any materials relative to your firm and/or listings sheets to pass around to the attendees. The venue is a great platform to meet other like minded individuals and make new friends and business acquaintances.
Have a wonderful and safe Thanksgiving.