NAI Norwood Group Takes Home 3 CIBOR Awards

Manchester NH – NHCIBOR held their 3^rd annual awards ceremony on Tuesday, June 20^th 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.

Office Space For Sale or Lease - Suitable for Headquarters

Rare opportunity for a growing corporation to economically purchase its own headquarters with significant room for growth and existing tenants to off set expenses.

This building also has office space for lease. Please contact Brian O'Brien for more information at bobrien@nainorwoodgroup.com or 603-431-3001.

NAI NORWOOD GROUP SELLS OSSIPEE CAR WASH

Ossipee NH - NAI Norwood Group announces the sale of the Top Cat Car Wash property located at 760 Rt# 16 in Ossipee, NH. The unique property consisted of a car wash and a 5,000 sf commercial bldg situated on 29 Acres. The team of Brian O'Brien, VP Managing Broker and Greg Whalen VP, both of NAI Norwood Group, represented the Seller in this transaction.

"The property had the unique aspects of a combination of an ongoing car wash business, an existing commercial building and additional acreage for potential development,” said O’Brien.

According to the registry of deeds the sale was completed in August and sold for $890,000.

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.

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.

NAI Norwood Group Announces Sale at Pease

Portsmouth NH - NAI Norwood Group announces the sale of 68 NH Ave. Portsmouth, NH (Pease Tradeport). One of the first buildings built at Pease in 1998, this 18,500 SF Industrial building on 3.5+/- acres was originally built for Landovia Corp. and most recently owned by Wencor, a Utah Corporation. The sale closed on December 20, 2013 for $1,100,000 according to the Registry of Deeds.

“In conjunction with Pease Development Authority, we were able to rezone the lot to suit the end use. It was a great opportunity to work together and have a favorable outcome for all.” O’Brien said.

The property was purchased by an Investment Group 68, NH Ave., LLC where they intend further develop the property for possibly new tenants. Brian O'Brien, RPA Managing Broker of NAI Norwood Group's Portsmouth office represented the Seller (Wencor Corp.) in the transaction.

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 Relocating Portsmouth Office

Portsmouth NH – NAI Norwood Group, New Hampshire’s largest commercial real estate firm, is pleased to announce the relocation of their Portsmouth office. NAI Norwood Group will continue to be in downtown Portsmouth. The newly fit-up office is located at 28 Deer Street, across from the Sheraton.  

“We are very excited to make the move to 28 Deer Street. Not only do we have the opportunity have an important client as our Landlord; it also provides the growth for our new team who will be expanding into the southern Maine market place, and diversified services, such as business brokerage,” said Brian O’Brien, Managing Broker of NAI Norwood Group’s Portsmouth office.

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 28 Deer Street Suite 301, Portsmouth, NH 03801 (603) 431-3001.

NAI Norwood Group Sells 120,000± SF Retail Building in Derry NH

Derry, NH (March 22, 2013) – NAI Norwood Group is pleased to announce the sale of the former Walmart retail property at 30 Manchester Road in Derry NH. The 120,000± SF on 15 acres became a surplus property when the new super Walmart Center opened in late 2012. Brian O’Brien, VP/Managing Broker of NAI Norwood Group Portsmouth, represented the seller in the transaction. Ocean State Job Lot bought the property and plans to occupy a portion of the building and redevelop the balance into a multi-tenant retail center. NAI Norwood Group is slated to stay on as the leasing agent.

“This was an excellent opportunity for NAI Norwood Group and NAI Global to come together in a successful transaction for a large corporation like Walmart,” said O’Brien.

Walmart left the property on 30 Manchester Road to move across the street to their new Super Walmart location at 154,551± square foot facility. Located just 2.6 miles off Route 93 this corridor has seen a momentum of retail action. In 2011 Woof Meow, a pet company moved in adjacent to the new Panera Bread in newly developed Pinkerton Place. Both deals were brokered by NAI Norwood Group. Soon the road widening will be done, giving a smoother drive and a much cleaner look to one of Southern New Hampshire’s newest retail corridors.

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.

American Medical Imaging Relocating to Portsmouth

Portsmouth NH - Brian O'Brien Vice President/ Managing Broker of NAI Norwood Groups Portsmouth office announces that American Medical Imaging has leased 4,478 SF at 100 Griffin Rd., Portsmouth, NH.  Brian O'Brien of NAI Norwood Group represented the Landlord JFF Real Estate Ltd., and Thomas Farrelly of Cushman Wakefield of NH represented the Tenant, American Medical Imaging. American Medical Imaging’s choice to relocate to Portsmouth is a testament to the desirability of the business climate in Portsmouth and the Seacoast area. During these challenging economic times companies are analyzing in-depth potential expansion and relocation decisions. The Seacoast area and Portsmouth in particular, offers the perfect combination of growing demographics, superior quality of life, and attractive business climate to continually attract new business to the area.

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 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.

Panera Bread Company Leases Space at Pinkerton Place in Derry

DERRY, NH - NAI Norwood Group is pleased to announce that Panera Bread Company has entered into a lease agreement for a 4,100 +/- SF free standing building with drive thru at the retail development project "Pinkerton Place" in Derry, New Hampshire. Pinkerton Place, located at 19 Manchester Road, has received full approvals for 49,000 +/- SF of retail space on approximately 8.5 acres and is currently under construction. According to construction manager, Randall LaClaire, Panera Bread should be open for business this summer. Pinkerton Place is a well located retail project at the corner of Route 28 (Manchester Road) and Ashleigh Drive in front of a new Wal-Mart Supercenter, scheduled for completion in 2012.

Brian O'Brien and Chris McMahon of NAI Norwood Group's Portsmouth, New Hampshire office represented the Landlord, Boomer Wolf, LLC in this transaction. Harmon Lewis of National Commercial Brokers represented PR Restaurants, LLC a Franchisee of Panera Bread Company. NAI Norwood Group is the exclusive broker for the remaining available retail space available at Pinkerton Place.

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 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.

NAI Norwood Group Successfully Leasing Space at Woodbury Corner in Newington, NH

Portsmouth, NH – NAI Norwood Group is pleased to announce two recent lease signings at 2001 Woodbury Avenue in Newington, NH. Horizon Group, an authorized Batteries Plus Franchisee, has leased 3,600 +/- square feet and Wireless Link, LLC, an authorized Sprint Dealer, has leased 1,300 +/- square feet of retail space.

Brian O'Brien, RPA and Chris McMahon of NAI Norwood Group represented the Landlord in both transactions. Strategic Retail Advisors represented Wireless Link, LLC and Charles Zoulias of Perfecta Real Estate represented Horizon Group.

The newly re-developed retail strip center on the corner of heavily traveled Woodbury Avenue and Gosling Road is prime real estate. Prior to re-development, 2001 Woodbury Ave, was home to one of Tweeter, Etc.'s New Hampshire locations. The re-development of this high profile retail property has brought with it the opportunity for national, regional, and local retail tenants to position themselves well in the Newington / Portsmouth NH retail market. The property is owned by Riverside Properties, Inc. based in Wellesley, MA. Additional retail spaces from 1,900 +/- SF to 4,475 +/- SF are available at Woodbury Corner.

TMS Architects, located in Portsmouth, was chosen to revamp the old building inside and out. Jason Bailey at TMS Architects commented, “The main purpose was to break the space into four suites and maximize street frontage. The colors and architecture chosen utilize a traditional approach to contemporary architecture, creating a more timeless look. It’s no longer the Tweeter building, it’s a new entity.”

Malt House Construction, also located in Portsmouth, was chosen as the building contractor to carry out the design set forth by TMS Architects. Sandy Dewing, President of Malt House Construction had this to say about working on the project: “It was challenging, but it was a good project for our company. It definitely improves the intersection. With the support of the owners and a great design from TMS the project has gone smoothly”.

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 325 offices in 55 countries, NAI Norwood Group is able to leverage their strong local experience around the world. Whether your commercial real estate needs require local expertise, or you need brokerage consulting around the world, the firm is here to help. 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 please contact us at one of our offices: 116 South River Road, Bedfrod NH, 606-668-7000 or 100 Market Street Suite200, Portsmouth NH, 603-431-3001.

Written by Chris McMahon and Sarah Carson of NAI Norwood Group
Quotes submitted by Sandy Dewing of Malt House Construction and Jason Baieley of TMS Architects

To contact Chris McMahon: cmcmahon@nainorwoodgroup.com
To contact NAI Norwood Group Marketing Dept: scarson@nainorwoodgroup.com

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.