Press Release 21 Congress St. Portsmouth

Portsmouth, NH – Andy Fleisher of NAI Norwood Group Portsmouth announces that Thirsty Moose Taproom & Pizzeria, LLC has leased the property at 21 Congress Street, Portsmouth, NH. Andy Fleisher of NAI Norwood Group represented the landlord, Wenberry Associates, LLC and Chris McInnis, Paul McInnis, Inc. represented the tenant.

The Thirsty Moose moved in May 1, 2012 and will be opening soon. Owners Joe Kelley and Carrie Stepien have given the place a face lift complete with a new bar and a replica of the Memorial Bridge inside. They will have an amazing 100 beers on draft to accompany an American Bar & Grille Menu featuring meats made in house from scratch and gourmet pizza. Joe Kelly and Carrie Stepien also own and operate Joe’s New York Pizza and Fat Belly’s in Portsmouth.

Property consists of 7,000± square feet of restaurant and kitchen space and a 2,000± square foot lower level space that is built-out for a bar, with area for music and/or dancing.

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 strong 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 http://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.

Andy Fleisher Leases 12,000SF

PRESS RELEASE Contact: Kelly Henson 431.3001

Portsmouth, NH – Andy Fleisher of NAI Norwood Group Portsmouth announces that EmersonMade, LLC has leased a portion of the property at 933 US Route One Bypass, Portsmouth, NH. Andy Fleisher of NAI Norwood Group represented Sarnia Properties and assisted EmersonMade, LLC. The 12,000 SF mixed use building will be used as warehouse and distribution for the high end women’s clothing manufacturer.

EmersonMade, LLC, also known as Emerson Fry, is described as “a company that believes in celebrating the uniqueness of the individual, the joy of being alive and all the smallness that makes up the Big Beautiful.” The company moved into the space on May 25, 2012.

The nearly 60,000 SF building on 3.51 acres used to be Portsmouth Paper Company and still has 32,000 SF available for lease. The building has been upgraded to accommodate a variety of tenants. To inquire about purchasing this investment property contact Andy Fleisher at (603)637-2001.

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 strong 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 http://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.

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How to Tenant Your Building in Today’s Dynamic

by Chris Norwood, cnorwood@nainorwoodgroup.com

Spring is here. The clocks have been set forward and the flowers are blooming. The Red Sox are dusting off from last season and the B’s and C’s are planning for the post season. As we look forward to some late season action, we got to thinking: How is tenanting your building much like a late season or post season sporting game?

At the end of the 2004 season, Terrell Owens at the prime of his career with the then NFC Champion Philadelphia Eagles was set to play the New England Patriots in the Superbowl. We all know that the Pats went on to win that game, but on the losing side of the ball, Owens played one of the more dramatic roles in a Superbowl loss. Owns snagged nine receptions for one hundred and twenty two yards in a loss, on a broken fibula. Win or lose it was the last game of the seasons so he went out there with a broken leg and played.

Game six of the American League Championship Series against the New York Yankees in 2004. In a must win scenario, Curt Shilling takes the mound for the Red Sox with his injured ankle. It was “do or die” and in those situations anyone is available. Any player, injury or not, rest or not is available to pitch or be in the field, because “there is no tomorrow”.

As bleak as “there is no tomorrow” may sound, it has its applications in real estate as well. When positioning your property to the market and to prospective tenants what are your realistic terms to get the property leased. Would you take a short term lease? What about the credit of the tenant you are seeking? Would you consider a gross lease? What about pricing? What role does your lender play? Often times properties are marketed like it is an early season baseball game. We will field our team and see what happens, if our pitcher gives up a few hits, we will leave him in and see if he can work out of it.

We feel that today’s market is much closer to a post season game. You want to leave some players warm in the dugout or in the bullpen, but make sure you put your best team on the field. Consider lowering the price, or furnishing the space. Not all lease negotiations are about the rental rate.If you would consider improving the space, why wait, do it now to attract the tenant or have a conceptual or a rendering done. It makes sense to have these discussions before the property is put to market and before the marketing has been created.

Most real estate plays out that a landlord will put property out there for lease and a tenant comes along and puts in an offer. The landlord, feeling he has some negotiating room puts in a counter offer, figuring that there is one more bite at the apple. But the apple never comes back, the tenant relocated to another building. Negotiations in today’s economy are one or two innings, not nine like they used to be.

Most importantly in today’s market, once a tenant is found and has some interest in the space, give Shilling the ball. Put your best foot forward, bloody sock and all, and give your best offer to the tenant. The Sox had a game seven that year and went on to win the World Series for the first time in generations. A landlord may not have the luxury of a game seven.

Increasing Cash Flow in a Declining Lease Market

INCREASING CASH FLOW IN A DECLINING LEASE MARKET

By Brian O'Brien

Times are tough, lease rates are trending downward. It is imperative that commercial property owners look for non-traditional ways to keep your properties performing at their peak maximized value. Here are a few tips to potentially add value without necessarily increasing rents:

Market Review: Re-examine your local market and get ahead of potentially declining market. Find out the most up to date comps in your market area to detect if there is a declining trend. You may want to re-negotiate with existing tenants early then waiting for their current leases to expire. Tenant retention is extremely important in a challenging market. Vacancy is expensive, not only are you potentially losing income stream but you are picking up additional operating expenses, tenant improvement dollars, and leasing commissions. “RETAIN IS THE GAME”.

Investigate a tax abatement: Is your property assessed accurately for the current market conditions? Don’t wait for a municipal Assessor to act to lower your assessed value, probably not going to happen. In most cases the Assessors are not working off current market information and it is important to keep abreast of your real estate taxes on an annual bases. A proper tax abatement specialist may be able to know only get you relief in a current year but may also go back to a previous year and years going forward.

Cost Segregation Depreciation: If you paid approximately $750,000 or more for your property you may realize significant savings and/or rebates through accelerated depreciation tactic called Cost Segregation Depreciation. Cost Seg is a form of depreciation where the components of a building are analyzed and broken down by individual depreciation schedule vs. standard straight-line depreciation method. The theory behind cost seg is that different building components have different life cycles. Carpets, HVAC equipment or moldings may have 7, 15 or shorter life cycles that traditional bricks and mortar. Thus, the property owner may accelerate the depreciation leading to significant rebates and or expense deductions, increasing your depreciation and increasing your after tax bottom line. Firms specializing in cost segregation can advise a property owner if it is feasible to do so.

Building Maintenance and Operating Cost Review: Have you re-bid your vendors lately? Have you explored new ways to operate your building more efficiently? Is your building energy efficient? Are there programs from your utility companies or tax incentives to upgrade your mechanicals to better energy efficient equipment? Now is the time to a conduct a top to bottom review of your building expenses and see if you r leaving anything on the table by not running your property at it’s maximize efficiency.

Financing: Interest rates are at historic lows. It is time to review your financing. You may be able to get a better rate, stretch your current amortization Schedule for better monthly cash flow. Reassessing your current financing for not only your interest rate but additional term and conditions could be another way to maximizing your bottom line.

These are 5 quick points a property owner can take, to ensure they are maximizing cash flow.