NAI Norwood Group Visits NAI Korea

Bedford NH - Jay Lee, from NAI Norwood Group, recently visited NAI Korea. We asked Jay to tell us a little bit about his visit.

(Left to Right: Richard Song, Jay Lee, and Steve Oh)

“I recently visited NAI Korea on June 17th, 2016.  The office is located in the middle of financial district in the Gang-Nam Area.  It's an open space with 1st class amenities which resembles a large stock market trading room with 60 working agents. 

I met with Shin Ko, COO, Ray Cho, Mark Lim, Richard Song and Steve Oh.  We discussed a variety of topics relating to commercial real estate in Korea and the US in order to fully understand and recognize the needs and reasons for Korean Investors to invest in the US market, some of which include:

• Stable market conditions create a favorable long term investment environment. 
• Predictable Return on Investment provides the place to "park money".
• The US real estate market offers value and service opportunities to the NAI Korea advisors because it differentiates from other brokerages and collaborates with US investors with Korean properties.

In addition, this a great opportunity for Korean investors to explore more prosperous investments than to what they are accustomed. Furthermore, the best part of this visit was a great lunch with the advisors.  Their hospitality was greatly appreciated.”

Thank you for sharing your experience, Jay. We will look forward to working with NAI Korea.

NAI Norwood Group has been bringing professional real estate services to their clients since 1968. The firm offers its clients specialized services in all aspects of the real estate spectrum from brokerage, consulting, development and outsourcing. Through their international affiliation with NAI Global, NAI Norwood Group is committed to serving New Hampshire, New England and the world.

NAI Global is the single largest, most powerful global network of owner-operated commercial real estate brokerage firms. NAI Global member firms, leaders in their local markets, are actively managed to work in unison and provide you with exceptional solutions to your commercial real estate needs.

NAI Norwood Group Sells Arrow Self Storage

LONDONDERRY NH – NAI Norwood Group is pleased to announce the sale of Arrow Self Storage in Londonderry, NH. The sale closed on September 27, 2014 in the amount of $2,000,000 according to the registry of deeds. Joseph Mendola, of NAI Norwood Group, represented the seller and assisted the buyer in this transaction. Mendola is the New England representative for the Argus Self Storage Sales Network. Argus is a national marketing organization that specializes in the marketing and sale of self-storage facilities across the country.

This self-storage facility is strategically located on RT. 102 in the heart of the Londonderry retail district. The buyer is a portfolio developer/operator of self-storage facilities in NH. The buyer is spending a significant amount on capital improvements bringing project up to current standards.

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.

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.