Thursday, June 22, 2017

NAI Norwood Group Takes Home 3 CIBOR Awards

Manchester NH – NHCIBOR held their 3rd annual awards ceremony on Tuesday, June 20th to benefit their chairty NHCIBOR Cares. NAI Norwood Group is pleased to announce three award recipients are part of their team. Judy Niles-Simmons and Perry Snow tied with Brian O’Brien for the 2016 Retail Transaction of the Year. Joe Mendola took home the 2016 Investment Transaction of the Year. Congratulations to everyone for their hard work.

Judy Niles-Simmons and Perry Snow have been working on the Center View Plaza project in Manchester, formerly known as Lowe’s. The 100,000+ SF Huse Road building has been subdivided and partially leased. Leases include Chunky’s Cinema and Cowabumga’s.


Brian O’Brien sold the former Walmart on Keller Street last July. The 118,000+ SF building incited a bidding war. Ultimately it was CarMax that bought the site for just over $11M.


Joe Mendola successfully brokered a transaction between Granite Clover Self-Storage and National Storage Affiliates Trust that consisted of a five property portfolio. The transaction was valued at approximately $28.8 million and consists of approximately 235,000 rentable square feet with approximately 1,900 self-storage units.


The mission of NHCIBOR Cares (NHCC) is to help assist various organizations and individuals in need during emergency situations.  Having been in existence for just a few years, NHCC has contributed to over almost two dozen local and statewide causes on behalf of the members who support the NHCC mission.  NHCC also awards a Community Service Award at the NHCIBOR annual dinner.  Past recipients include some of the pillars in our industry:  Judy Niles-Simmons, Michael Reed and Arthur Sullivan.  NHCC Committee membership is open to any Realtor or affiliate of NHCIBOR, and is encouraged. For more information please visit: https://www.nhcibor.com/advocacy/nhciborcares


NAI Norwood Group is an affiliate of NAI Global, the world’s leading managed network of independently owned commercial real estate brokerage firms.  Through this network of 400+ offices and more than 7,000 professionals, NAI Norwood Group is able to leverage their nearly 50 years of dedicated local experience around the world. With our extensive background and strong local contacts, we are able to assist clients in negotiating leases, sales, business brokerage, investments, relocation, site selection and development. For more information please visit www.nainorwoodgroup.com. Or contact one of our offices: 116 South River Road, Bedford, NH 03110, (603) 668-7000 or 28 Deer Street Suite 301, Portsmouth, NH 03801 (603) 431-3001.

Tuesday, June 20, 2017

JOSEPH MENDOLA OF NAI NORWOOD GROUP SELLS PROFILE SELF STORAGE IN HOOKSETT, NH.

NAI Norwood group is pleased to announce the sale of Profile Self Storage at 180 Londonderry Road in Hooksett, NH. Joseph Mendola, Senior Advisor of NAI Norwood Group, represented the seller in this transaction and collaborated with the buyer. Mr. Mendola is also the Argus Self Storage Sales Network representative of Northern New England. Profile Self Storage closed this transaction on June 15, 2017.


This self-storage facility is a state of the art facility. It has 53,950 rentable square feet and 507 self-storage units and it also has a separate lot that is for storing 80 vehicles in phase one of this sale. The property also has a modern office building on the property that houses the self-storage office but also other businesses offices. The facility services the Greater Manchester-Hooksett-Auburn marketplace.


NAI Norwood Group is an affiliate of NAI Global, the world’s leading managed network of independently owned commercial real estate brokerage firms.  Through this network of 400+ offices and 7,000+ professionals, NAI Norwood Group is able to leverage their 45+ years of dedicated local experience around the world. With our extensive background and strong local contacts, we are able to assist individual corporations in negotiating leases, sales, business brokerage, investments, relocation, site selection and development. For more information please visit www.nainorwoodgroup.com. Or contact one of our offices: 116 South River Road, Bedford, NH 03110, (603) 668-7000 or 28 Deer Street Suite 301, Portsmouth, NH 03801 (603) 431-3001.

Friday, June 16, 2017

Millennials are Changing the Face of Commercial Real Estate

Everyone is talking about millennials today. Economists, pundits, politicians and business people have all weighed in, as their generation became the largest proportion of the overall workforce in 2015.
What effect, if any, is this having on the commercial real estate market?
Many of the most significant effects are driven by this generation's dramatically different habits of work, play and travel. From alternative commutes to remote work, any business that employs millennials needs to address these factors and structure their organizations and real estate accordingly.
Image result for millennials
The rise of telecommuting
Simply put, millennials love telecommuting and working from home. Deloitte's 2016 Millennial Survey confirmed a few key insights about them:
     43 percent of millennials currently have the ability to work from home.
     75 percent would like to and think it would positively impact their productivity.
     88 percent want the opportunity to work with flexible hours, starting and stopping on their own schedule.
The practical effect of this is a reduced need for office space on any given day. In some cases, employees will share desks or rotate freely through dynamic, open-plan offices. Senior millennials in executive positions are equally enthusiastic about this dynamic - according to Deloitte, 56 percent of those in this category enjoy the ability to work remotely and on a flexible schedule.
Moving forward, scaling up an enterprise and hiring new staff won't necessarily obligate a business to acquire the same square footage they might have needed before. 
New priorities for location and lifestyle
Just because millennials don't prioritize office space the same way, however, doesn't mean that CRE professionals can't market to them effectively. One of the biggest differences between them and previous generations is their decreased willingness to endure long commutes.
Millennials just aren't as car-centric as their parents in general - in fact, a study from the University of Michigan showed that only 60 percent of 18-year-olds now hold a driver's license, down from 80 percent in the 1980s. An analysis of millennials' driving habits versus those of Gen X and Gen Y by a professor at the University of North Carolina found that the reasons for this were varied, but a changing - and largely negative - view of cars was responsible for as much as half of the decrease in total driving miles.
As a result, many young people must be willing to compromise in other areas, including the neighborhoods they live in and the size of their houses and apartments. A business that seeks to hire a significant number of millennial employees should take these factors into account.
In addition, increasing use of mass transit changes the favored location for an office significantly. Spaces near major commuting and transport hub may continue to rise in value, while those located farther afield in places where commuting by car is the best option may see demand drop.


How to tackle these changes
It's time to break with some of the conventional wisdom of how to manage partnerships seeking office space and commercial real estate. Increasingly, these businesses will be staffed, managed or even owned by millennial entrepreneurs.
It's critical to understand your local geography and get a grip on how people are commuting, where they prefer to work and how far they're willing to go.

The market may be changing in several key areas, but that doesn't mean opportunities are going away - you just need to know where to look.  

Sarah Carson, Marketing Director
scarson@nainorwoodgroup.com 
NAI Norwood Group 

Tuesday, June 13, 2017

NAI Norwood Group Leases Space to Olympia Chimney Supply

Manchester NH – NAI Norwood Group is pleased to announce the lease of 17,000+ SF to Olympia Chimney Supply. Aron Brown, of NAI Norwood Group, represented the landlord and Colliers International represented the tenant.


Olympia Chimney Supply is now located on Faltin Drive in Manchester in a building that was formerly associated with the OSRAM Sylvania facility. Olympia Chimney Supply Inc. is a leading designer and manufacturer of chimney venting systems, liners and accessories. To read more about their new location in New Hampshire visit their website: http://www.olympiachimney.com/press-releases.



NAI Norwood Group is an affiliate of NAI Global, the world’s leading managed network of independently owned commercial real estate brokerage firms.  Through this network of 355 offices in 55 countries, NAI Norwood Group is able to leverage their 45+ years of dedicated local experience around the world. With our extensive background and strong local contacts, we are able to assist individual corporations in negotiating leases, sales, business brokerage, investments, relocation, site selection and development. For more information please visit www.nainorwoodgroup.com. Or contact one of our offices: 116 South River Road, Bedford, NH 03110, (603) 668-7000 or 28 Deer Street Suite 301, Portsmouth, NH 03801 (603) 431-3001.

Monday, June 12, 2017

NAI Norwood Group Wins CoStar Award

Bedford NH - NAI Norwood Group is pleased to receive the CoStar Power Broker Award for being a Top Sales Firm in 2016.


At the end of each year, CoStar tallies the commercial real estate sales and lease transactions that closed during the previous year to determine the winners of the CoStar Power Broker Awards in each market. These awards are presented to both the firms and individuals who closed the highest transaction volume in commercial property sales and leases in their respective markets throughout the year.

Congratulations to all of those that worked so hard last year to achieve this award.

To view all recipients please go to: http://costarpowerbrokers.com/power-broker-award-winners/