On June 29th I attended NEREJ’s State of Commercial Real Estate Forum in Portsmouth. It was, as always, a beneficial forum with great presenters. I was delighted to know that six of the 12 panelists are NHCIBOR members. These experts raise the bar for us all in the depth of their knowledge in our industry and the importance of belonging to our organization.
NHCIBOR board has been busy the second quarter of this year. We finalized and voted to pass our strategic plan, setting in motion a series of lofty goals to reach this year and beyond. In addition to the goals handed to us by NAR, the top 4 goals are:
1. NHCIBOR will always be aware of the top three challenges are members face.
This is vital to our existence and will allow the organization to work on behalf of its members to help promote a healthy business environment in New Hampshire.
2. Consumers see NHCIBOR as the primary source for commercial real estate.
Marketing task force, will be formed to explore various methods to raise the level of the consumer as to the importance of hiring commercial specialists for their commercial real estate needs.
3. NHCIBOR would impact legislation rules and regulations at the local and state level to facilitate growth in the state.
We have have a very pro-active Public Policy committee that identifies issues, researches their impact on our industry, and recommends what action the Board should take in support of CRE needs.
4. NHCIBOR will have a designation requirement for realtors for the practice of commercial real estate.
A task force has been formed and is developing a program to achieve this goal.
On June 8th, Bob Marchewka, One Commercial Real Estate was presented with the NHCIBOR Realtor of the Year Award, and Bill Jean, Fulcrum Associates, the Affiliate of the Year Award at our annual BBQ. Congratulations to these dedicated professionals who also give their time to work so hard in our organization. Many thanks to TFMoran for, once again, sponsoring this great event. We raised over $1,200 for RPAC.
On June 20th NHCIBOR Cares presented their annual awards. We appreciate the sponsors and individuals that make this event possible. Thank you to all of the sponsors: Union Leader, Alpha Locksmith, Eastern Bank, Devine Millimet, Howe Riley Howe, Optima Bank & Trust, Office Resources/Knoll, Colliers International, Lake Sunapee Bank, Boyd & Boufford Insurance, St. Mary’s Bank and Fulcrum Associates.
We would also like to thank the Board of Directors for NH CIBOR Cares and NH CIBOR and the CIBOR community. Without your support and participation, this event would not be possible.
Congratulations to all the honorees. This clearly shows the strength of the N.H. commercial real estate community. Many of these deals would not have been possible without the experience and knowledge of these individuals.
DeStefano & Barrett Legacy Award Recipient: Mike Reed, Stebbins Commercial Properties
Deal of the Year: Sue Ann Johnson, Tom Farrelly and Denis Dancoes, Cushman Wakefield for 12 Continental Drive in Exeter, NH. This was a 106,280 s/f build-to-suit lease for Gourmet Gift Baskets with a deal value of $23.6 million.
Medical Deal: Bob Rohrer and Doug Martin, Colliers International: Leases totaling 28,925 s/f at 160 South River Rd. in Bedford, N.H. to Catholic Medical Center and Derry Medical Center with combined value at $9 million.
Office Deal (2 Honorees): Bob Rohrer and Doug Martin, Colliers International. Lease of 17,173 s/f at 25 Constitution Drive in Bedford to Sunrise Labs with value of $2.6 million.
Sue Ann Johnson, Tom Farrelly and Denis Dancoes, Cushman Wakefield: Lease of 23,000 s/f at 6 Bedford Farms Rd. in Bedford to blackbaud with value of $3.5 million.
Retail Deal (2 Honorees): Judy Niles-Simmons and Perry Snow, NAI Norwood Group. Sale of 140,000 s/f Lowe’s building in Manchester, NH for $7.95 million.
Brian O’Brien, NAI Norwood Group: Sale of 118,000 s/f Walmart building in Manchester, NH for $11.05 million.
Development Deal: David Choate, Colliers International: Sale of 181 Silver Street in Dover, NH with 19.46 acres, re-design of Route 16 intersection and roundabout for $3,175,000
Investment Deal: Joe Mendola, NAI Norwood Group: Sale of 5 self-storage facilities totaling 235,000 rentable s/f for $28.8 million.
Industrial Deal (2 Honorees): Bob Rohrer, Colliers International: Sale of 20 Executive Dr. in Hudson, N.H. with 75,288 s/f for $4 million.
Sue Ann Johnson, Tom Farrelly and Denis Dancoes, Cushman Wakefield: Sale of 248-254 Sheep Davis Rd. in Concord, N.H. with 50,000 s/f for $3.375 million.
Again, on behalf of the NH CIBOR Cares board of directors, many thanks for the support and participation to make this event a success.
Our third quarter will prove to be just as busy and exciting. Watch for announcements on upcoming educational sessions and special events.
Kathy DeMello is the 2017 president of the NH CIBOR, Bedford, N.H.