Investors Buying Office Space in Bedford NH

Bedford NH - NAI Norwood Group is pleased to announce two recent office sales in the Bedford NH market. 10 Chestnut Drive is a 13,690+/-sf two story office building off the busy Route 101 corridor comprised of a number of small, local businesses. According to the registry  of deeds it sold for $790,000. 116 South River Road Building B was a 7500+/-sf two story, steel framed, brick façade condo that sold in the prestigious Coldstream Office Park at 116 South River Road. According to the registry of deeds it sold for $870,000.

“It is clear that these sales are a testament that a Bedford business address continues to be highly desirable.” Noted Louise Norwood, Principal at the firm. “With so much new development in town, along with the low interest rates, the demand remains high.”

“Both of these assets were sold to investors.” Added Chris Norwood, President of the firm, “With an additional sale of a small condo unit earlier in the summer, this marks our third investment product sale in Bedford in the last 60 days. While the owner occupant market is strong, the proof is here that investors are still seeking sound real estate as diversification to their other investments.”

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.

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.

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 

NAI Norwood Group Sells Office Condo Building in Bedford

Jeff Lessard

Bedford NH – NAI Norwood Group is pleased to announce the sale of 22 Eastman Drive in Bedford NH. Jeff Lessard and Jay Lee represented the seller of the four unit, 6000+/- SF office condo building. Acording to the Registry of Deeds the transaction was in the amount of $565,000 ($94.16/SF).

Jay Lee

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.

22 Eastman Drive, Bedford NH

NAI Norwood Group Leases 9,000+SF in Bedford

Bedford NH – NAI Norwood Group is pleased to announce the lease 9,377+/- SF of industrial/flex space at 21 Commerce Park North in Bedford NH. Chris Norwood and Jeff Lessard represented the landlord. Doug Martin of Colliers International represented the tenant.

This lease finishes the ground floor releasing of a former blight building that the landlord completely renovated. The asset will be the home for Lyophilization Services of New England as well as the existing tenant Cross Fit Amoskeag. NAI Norwood Group is looking forward to leasing up the remaining flex space on the site.

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.

NAI Norwood Group Sells Land to Bluebird Self Storage

Hooksett NH – NAI Norwood Group is pleased to announce the sale of 3+ acres in Hooksett to Bluebird Self Storage LLC. Joseph Mendola, Senior Vice-President of NAI Norwood Group represented the Seller and Scott Frankiewicz of Keller Williams of Nahua Represented the buyer in this transaction. The closing price on the land was $725,000 according to the Registry of Deeds.

Bluebird Self storage is a major developer of self storage in NH. With sites in Greenland and Dover, Bluebird has other self storage projects in Bedford and Manchester, NH. This land acquisition is their newest location in the northern end of Hooksett, NH. It will be about 80,000 gross square feet of space once completed.

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.

# # #

Renaissance of Route 101

BEDFORD NH - NAI Norwood Group, Inc. recently hosted a “Route 101 corridor” Open House showcasing the listing inventory of various commercial office and retail properties now available on the strip.  The event was held at The Granite State Kitchen facility with Rick Sawyer, Bedford Town Manager, detailing the completed projects and via power point announced the ground breaking of several new businesses coming to the marketplace.

To set the stage, Rick explained that Bedford has a land mass of some 32.8 square miles with a total inventory of properties assessed at 3.25 billion dollars.  Because of the growth pattern spreading out to the Routes 101/114 area, plans are coming to fruition for a five lane traffic expansion from Route 114 to Wallace Road in 2018-2019 with paving improvements from Wallace Road to the Amherst town line.

This Renaissance of Bedford has now jumped from the golden South River Road venue spilling over to Route 101 to keep pace with the commercial demands of the community.  Newly added buildings along the corridor are ….

•       144 Multi Family and Work Force Housing Units
•       The Copper Door
•       Bellweather Credit Union
•       CMC Family Medical Center
•       Wholistic Pet
•       Convenient MD
•       Primary Bank
•       Members 1^st Credit Union
•       Millennium Running

And coming soon ….

• The Bedford Village’s Inn new show stopper “The      Bedford Grand Hotel”Komma Veteriarian Clinic
• Murphy’s 22,265 s.f. Tap Room on the site of the former WeatherVane

The event was well attended by local commercial real estate brokers, bankers, state development planners and other interested parties. Bedford is having its greatest RENAISSANCE since the 1980s. Along with this continually growing economy, the medical community has grown exponentially along South River Road not to mention the extraordinary development of the Goffe Mill Plaza and Market and Main projects. 

We would be happy to provide you with the full e-mail slide presentation upon request along with our full selection of available properties in the Bedford area.

Written by Louise Norwood, NAI Norwood Group, louise@nainorwoodgroup.com 

Congratulations Karl Norwood

BEDFORD NH - NAI Norwood Group would like to congratulate Karl Norwood on receiving two awards at the 2nd Annual NHCIBOR Commercial Real Estate Awards. Karl was honored with the award for Suburban/Rural Deal of the Year which was for the disposition of the former Chester College in Chester, NH. The Industrial Sale of the Year award was given for the sale of 655 S Willow Street in Manchester NH. This was the former OSRAM Sylvania building which was comprised of 15 acres and over 300,000 SF.

NHCIBOR’s 2nd Annual New Hampshire Commercial Real Estate Awards were held on June 6, 2016 at The Puritan Backroom Function Facility in Manchester, NH. This event provides incredible recognition and publicity for the commercial real estate market and community in New Hampshire.  It is also a fundraising event for NHCIBOR Cares as a 501c3 organization.  Last year this event netted over $6,000 that was distributed to local non-profits throughout the state.

NAI Norwood Group Welcomes Jeff Lessard

BEDFORD NH - NAI Norwood Group is pleased to announce Jeff Lessard has recently joined the firm as a commercial real estate Advisor in the Bedford office. Jeff is a 2015 graduate of Saint Anslem College, graduating with honors as a member of the Dean’s list. While at Saint Anslem, Jeff was actively involved in numerous school activities, in addition to his active participation with local community & charitable organizations. Jeff initiated and spearheaded the efforts of Relay for Life, multiple St. Jude fundraisers and marketing foundations, as well as holiday food baskets for those in need.

As Jeff was interviewing with several other prominent commercial real estate firms, it became evident to Jeff that in order to succeed in this highly competitive business, as with high level athletics, the importance of surrounding himself with great teachers, mentors and coaches. “Going around to the other firms in the area, I recognized the importance of aligning myself with those that possess the same level of desire, passion and tenacity that I will bring to the firm. I met with a lot of great individuals, but to be honest, the level of dedication to training and one-on-one coaching is exactly what anyone new to this business needs to be successful over the long term. The Norwood family name is synonymous with New Hampshire commercial real estate. I am truly looking forward to great things with the Advisors and leadership at NAI Norwood Group. Something else that really impressed me is the level of comfort and family culture that is carried out by everyone at the firm,” said Lessard.

Jeff recognizes that since he is just starting what will be a long successful career in the commercial real estate industry, he needs to learn as much detail as he can about the differences between each sector of the industry in order for him to best serve his clients and fully understand and appreciate the nuances of each property type. Jeff looks forward to experiencing the depth and breadth of the Advisors experience he can always access at NAI Norwood Group, and the feeling is mutual. Said Karl Norwood, Founder and Principal of the firm bearing his name, “We are extremely proud to have Jeff join our Team. Along with two other recent additions to our Advisory Team, Jeff brings a level of enthusiasm and desire to learn that is refreshing and contagious by all! I’m confident our relationship together will be mutually gratifying and I am excited to follow the trajectory of Jeff’s personal and professional growth with our company.”

Jeff is actively involved in local and statewide business groups, chambers of commerce and other networking initiatives. He is extremely well versed at placing customer and client needs ahead of all else, having deep experience with customer service and exceeding expectations at his previous work related experiences.    

Jeff grew up locally and will initially focus his real estate activities in southern and central New Hampshire, bringing local business and community insight and tenacity to each assignment.

NAI Norwood Group Sells Land For a New Self Storage Facility

GOFFSTOWN NH – NAI Norwood Group is pleased to announce the sale of 4.6+/- acres of land located at 102 Mast Road in Goffstown for $300,000, according to the registry of deeds. NAI Norwood Group represented both the buyer, Mast Road Self Storage, LLC, and seller, Langley Trust, in this transaction.

This land was purchased by the buyer/developer to construct and operate a 61,250+/- sf two story state of the art climate controlled self-storage facility. The facility will have 46,250+/- sf of rentable space and 403 units. 21 units will be large units accessed from the outside of the building.

The developers are excited about this project as it will be the first fully climate controlled facility in the Goffstown, Bedford and West Manchester market. The facility will not have elevators, and each floor will be accessed at grade level for ease of storing. The facility will open in January 2015. It is between Goffstown center and Bedford and West Manchester center.

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.

Former Nashua Courthouse Back on the Market

This 28,621+/- SF asset is back on the market with a price reduction.

Click the link below to read Union Leaser's Avenues about the state building for sale.

Price dropped on downtown site of former Nashua courthouse

NAI Norwood Group Welcomes Bill Wagner to the Team

Portsmouth NH – NAI Norwood Group is pleased to welcome Bill Wagner to the Portsmouth team. Bill intends to use his expertise to help NAI Norwood Group clients reach their real estate goals, by leveraging his 35+ years of business ownership and consulting experience in real estate development in New Hampshire. Bill has developed a reputation for integrity, reliability, with a desire to accomplish goals for the client by providing professional guidance and advice through a high level of knowledge in the field.

Bill has experience in the real estate development process-from basic issues to the complex ideas and execution of plans, including the permitting process. He has real estate experience as a tenant, property owner, public servant, and has participated in the permitting and building of two office buildings at Pease International Tradeport and various other projects in the Seacoast area.

Bill’s community involvement includes: Past President of Portsmouth Chamber of Commerce, Past President of Seacoast Mental Health Center, Past Member of the Pease Development Authority, and Seven Term City Councilor of the City of Portsmouth (2 terms as Assistant Mayor). Bill is married with 5 children and 11 grandchildren.

We are looking forward to working with Bill as he continues his career by providing the services needed for his clients to succeed.

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.

How Economic Revitalization Zones Work For You

Recently the town of Bedford looked at the Economic Revitalization Zones (ERZ) that are administered by the State of New Hampshire. This year the State’s largest city, Manchester, is looking at their ERZ foot print and seeing if expansion should be in the cards. 

The ERZ is a tax credit program that is administered by the State to help foster growth in areas that are in need of economic assistance. While the program is nothing new, it has been around for years, the word is just getting out. A simple example of how it can work would be that a company moves into a vacant building that is in an ERZ. They spend money to improve the building for their use as well as bring in new hires. 

Based on the improvement amount and the number of jobs created this potential company could get dollar for dollar credits at the state level. Because of the subtle details of the program it is not a linear function. Anyone who has a potential project should contact the Department of Resources and Economic Development to really understand if the project qualifies as well as the savings potential. This raises the important issue that the ERZs are lot specific. Just because you and your neighbor share the same zone as it relates to the town (Commercial, Industrial, Performance) does not mean you both share the same as it relates to ERZ. Only the state can verify if your lot is within a zone. 

As the City of Manchester looks to expand its use of the ERZ other towns and cities throughout the state may as well. It is a great tool as business owners look to expand and grow their businesses.

MENDOLA OF NAI NORWOOD GROUP BROKERS SELF STORAGE FACILITY FOR $11.1 MILLION

Joseph Mendola, SVP of NAI Norwood Group in Bedford NH, has brokered the sale of 495 Storage at 545 Clark Road in Tewksbury, MA. NAI Norwood Group represented the sellers, 495 Storage, LLC in this transaction and assisted the buyer. The purchase price is $11.1 million. Mendola is the Argus Self Storage National Sales Network representative for the Northern New England region. Argus is a national sales network of brokers who specialize in the brokerage of self-storage facilities. There are Argus brokers in the 40 major real estate markets in the country. Argus is the largest listing organization of self- storage facilities in the country.

The sellers built a state of the art 90,000+/- SF climate controlled facility on three floors. The property has good visibility to I-495 at the Route 38 exit in Tewksbury, MA. It is also strategically located across from a community shopping center with Market Basket as an anchor tenant.

This acquisition of 495 Storage fits nicely into the buyer's plan to increase its presence in the New England self-storage market. 495 Storage is the fifth acquisition in the Greater Boston Market. Other acquisitions include facilities in Brighton, Boston, Stoneham and Medford Massachusetts. It also has facilities under management in Southern New Hampshire.

The self-storage industry has evolved over the last 20 years in New England into a service that is in high demand. This makes the self-storage asset a first class investment in real estate. The self-storage REITS produced the highest return on capital in 2013 compared to the other real estate REITS in the US.

This investment has gone from a question of are month to month rental contracts good collateral for a loan to an investment that is commanding ever higher purchase prices in the marketplace. This is partly due to the demographic shift that is taking place in the country today. There are 2 dynamics that are in play today that create a perfect storm for increased demand for well-located quality self-storage facilities. These 2 dynamics that are taking place today is the behavior of both the “Baby Boomers” and Generation “Y”.

The “Baby Boomers” are downsizing from their large colonial type homes to smaller housing in retirement. This is compounded by the fact that the Boomers’ children are taking longer to form their own families. This means Mom and Dad have to hold onto more stuff. The second dynamic is that Generation “Y”; the 20 to 35 year olds are not viewing the American Dream as being move to the suburbs and buy a house to start building their net worth. These people witnessed Mom and Dad either losing their home in the financial meltdown, having their parents’ home be “under water” with their mortgage balance, or just unable to sell their home due to lack of equity built up in it. So owning a single family home with plenty of storage space is not as appealing was it was in the Boomers generation. Either way these dynamics support the thesis of continued increased demand for quality run self-storage facilities in the future.

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.

NAI Norwood Group Sells 120 Unit Apartment Complex in Laconia

Laconia, NH – NAI Norwood Group is pleased to announce the sale of Lakeshore Estates in Laconia, NH. Andy Fleisher, CCIM, represented the seller, and assisted the buyer in the sale. Lakeshore Estates is a garden style apartment complex consisting of 4 buildings, 120 units and 118,032+/- SF. According to the Registry of Deeds the sale closed March 10, 2014 for $4,900,000.

The lead financing was handled by Andre Tremblay, Vice President and Commercial Loan Officer with Franklin Savings Bank in Bedford, NH. Secondary financing was with Sugar River Bank.  Andrew Prolman, an attorney with Prunier & Prolman P.A., in Nashua, NH, assisted the buyer in this complex transaction.  This was the first time this property had been available for purchase in over 30 years. The Property was 93% leased at the time of the sale, and consists of 4, three-story buildings and a recently renovated swimming pool. The new owners intend to continue to manage this complex as the previous owners had, and they will continue to upgrade the interior of the apartments as well as updating other aspects of the Property. 

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.

NAI Norwood Group Represents Cross Insurance

Exeter NH – NAI Norwood is pleased to announce Cross Insurance bought and moved to a free standing building on Portsmouth Avenue in Exeter. The 4,000+/- SF building is located at 82 Portsmouth Ave. John Mueller, of NAI Norwood Group, represented the buyer, Cross Realty, LLC, who will operate Cross Insurance in the new location .  Jean Kane represented the seller.

The buyer had worked with the Mueller for a couple of years, looking for the perfect opportunity to purchase a high profile location on Portsmouth Avenue in Exeter.  Located since 1894 in the historic center of Exeter, with roots as the DeMeritt Agency, Cross Insurance believes that the improved visibility, convenient on-site parking and easy access to Route 101 will make it easier to serve and satisfy their customers.  Current plans call for a move-in date of Mid May, 2014, at which time the community will be invited to experience their new, bright and modern offices.

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.

“Danger Zone” - New Legislation Requiring Notification for Zoning Use Changes

Imagine this…. You have a summer home at the lake. Abutting that home is a large tract of land. Someone buys that land and announces that they are going to build a casino on the property. Aside from that being all of the news in town and around the state, you as an abutter would receive a letter noting of a planning board (or zoning board) meeting for public discussion with the theory being that the proposed use could impact your summer home.

Notice is the key. The main reason we let abutters know about planning board meetings is that they are the most likely to be impacted by a change of use. Furthermore, in our example above sufficient notice would not be met unless mail had gone out to the abutters. Consider for a moment another cause and effect that could impact your property. What if there was a change in the zoning that would impact your property’s value. What if the zone where your lake home resided was being changed from residential to commercial, your property and others around it could now be redeveloped for retail. Would you not want to speak out about that change? In favor or against?

Currently towns are only mandated to place notice at town hall and in the local paper for zoning use changes. One could argue that a zoning change could have a larger impact than a development next door. However we still have a low threshold for notice. There is a Senate Bill 228 currently in front of state legislature that would require mail notice for a public hearing for a use change within a zone.  This is going to be a very important one to follow, not just for those who own property out of town but for your own house or office you may own. Not all of us hear about public notices, and this may be a good step forward for understanding impacts on your property’s value. 

Bill 228 Link: (http://www.gencourt.state.nh.us/legislation/2014/SB0228.html)

Written by Chris Norwood, NAI Norwood Group, cnorwood@nainorwoodgroup.com 

Brian O’Brien Named NAI Global Elite Top Performer

Portsmouth NH:  NAI Global, the largest, most powerful global network of owner-operated commercial real estate brokerage firms, today announced that Brian O’Brien, Managing Broker/RPA, of NAI Norwood Group was recognized in its annual incentives and recognition program, the NAI Global Elite. The program honors individuals placing multimarket business requirements with fellow NAI Members as well as top performers who are handling the highest volume of multimarket business among the NAI network. The awards were presented at the 2014 NAI Global Convention in Las Vegas.

“This award represents outstanding performance within the organization,” said Jay Olshonsky, President, NAI Global. “We are proud of Brian O'Brien’s success, and the dedication and commitment to service excellence he has shown. It underscores the power of the NAI Global network in building business, and showcases the deep local roots and professionalism of our brokers.”

About Brian O’Brien

Brian O’Brien is the Managing Broker of the Portsmouth office. His experience consists of over 25 years in the leasing and sale of office, industrial and investment real estate. He is an expert in 1031 exchanges and alternative real estate investments. Brian has sold over $50 million worth of institutional grade real estate investments to 1031 exchange buyers nationwide, and has been involved in the acquisition, redevelopment and repositioning of multi-building complexes on behalf of investment groups in NH.

About NAI Norwood Group

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.

About NAI Global

NAI Global provides a full-range of corporate real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain consulting and related advisory services.  NAI Global Member firms, leaders in their local markets, are actively managed to work in unison and provide clients with exceptional solutions to their commercial real estate needs. Founded in 1978, today NAI Global Member firms span 55 countries, with 400 offices and more than 5,000 local market experts on the ground, completing $55 billion of transactions annually. Supported by the central resources of the NAI Global organization, member firms deliver market-leading services locally and combine their in-market strengths to form a powerful bond of insights and execution for clients with multi-market challenges.

NAI Global was acquired in 2012 by C-III Capital Partners, a commercial real estate services company engaged in a broad range of activities, including primary and special loan servicing, loan origination, fund management, CDO management, principal investment, title services and multifamily property management.

Chris Norwood Named President of NAI Norwood Group

Bedford NH – Christopher Norwood, formerly Executive Vice President, has been named President of The Norwood Group, Inc. “I look forward to positioning the future of our business and living up to the high standards that has been the hallmark of our company mission statement,” stated Chris.

Chris, a graduate of Derryfield School and Babson College, joined the firm in 2003.  He is a past president of both the NE Chapter of CCIM and NHCIBOR. He is a board member of Manchester Community College.

The Norwood Group, Inc., founded in 1968 by Karl and Louise Norwood, celebrates 45 years in the real estate business.  Doing business as NAI Norwood Group, it is the largest commercial real estate brokerage firm in the state with offices in Bedford and Portsmouth.

Karl and Louise will remain active in the company:  "We are proud of our company team members and enjoy working with many colleagues within our industry."  In addition to brokerage Karl will continue to develop real estate projects along with other business ventures, including: TradeMed, an international medical device trading company, Ampenergo, which focuses on new energy technology, and other agricultural ventures.

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.

NAI Norwood Group Assists Lutheran Social Services Find a New Space

Manchester NH – NAI Norwood Group is pleased to announce the lease of 7,000+/- SF of office space for Lutheran Social Services (LSS). Jeanne Butler of NAI Norwood Group represented LSS in the search for their relocation site. Mike Reed of Stebbins represented the landlord. 

LSS will be moving to their new office space on November 1, 2013. LSS is consolidating multiple New Hampshire offices for better coordination between the different divisions. They are relocating from Manchester and Concord and will be occupying the 3rd floor at 340 Granite Street in Manchester. The landlord will deliver a newly renovated space to accommodate the different LSS divisions. 

“This was a difficult assignment as LSS needed to be on a bus line, in Manchester, with parking for 25+, handicap accessible and a tight budget. I was happy that we were able to find a space to fit all of their specific needs,” said Jeanne Butler. 

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.

NAI Norwood Group Represents Buyer in a 1031 Tax Deferred Exchange

Peterborough NH – Andy Fleisher, CCIM, of NAI Norwood Group, represented the buyer in this sale of investment real estate, as part of a 1031 Tax Deferred Exchange.  Bradley Vear, CCIM, SIOR, of Vear Commercial Properties, Inc. represented the seller, 125 Kublin Road, LLC, of East Moriches, NY.  John Bosen, attorney for Bosen & Associates, P.L.L.C., of Portsmouth, NH, assisted the buyer with this 1031 Exchange.

The sale was for a ground lease to a CVS Pharmacy, located at 125 Dublin Road in Peterborough, NH, adjacent to a Shaw's Grocery Store.  This location at Dublin Road is also known as the Peterborough Bypass, and NH State Route 101. The sale price was $2,985,000.  The property was built in 2008, and consists of 1.97 acres of land improved with a 13,167 square foot drugstore, with prescription drive-thru.  Andrew Fleisher, CCIM, is an investment real estate specialist with NAI Norwood Group, with offices in Portsmouth and Bedford, NH.  Also assisting in the sale was Michael Yuras, CCIM, of Cornish & Carey Commercial Newmark Knight Frank, based in San Mateo, CA.

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 40+ 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 100 Market Street Suite 200, Portsmouth, NH 03801 (603) 431-3001.