NEWS AND VIEWS

Kirk Butterfield joins Investcomm Commercial

Kirk specializes in the sales and leasing of commercial real estate properties in the Southern Maine and New Hampshire areas. A candidate for the prestigious Certified Commercial Investment Member (CCIM) designation, Kirk is putting his vast real estate and business knowledge to work in the local market.

Early in Kirk’s career he developed his real estate sales experience in Maine. He spent six years at Executive Search Group as a recruiter and Director of Business Development. Over the past 5 years, he served as President of ImpaKt Sports, a sport specific training and sports management company based out of York, Maine. He is knowledgeable when it comes to; overcoming business challenges, strategic thinking, solution-based selling, grass roots marketing and project management. He is also excellent at interpersonal relations and team building.

Kirk has three sons and is very active in the local schools. He is a board member and past president of the Kennebunk Clash Club Soccer Program. He is also a past board member of the Kennebunk Free Library, and is a long-time little league baseball coach and program volunteer.

Kirk is a graduate of Gorham High School, Brandeis University and Northeastern University’s MBA program. He looks forward to your call and the opportunity to serve you.

Construction ending; downtown Kennebunk poised for comeback

The new Mousam River Bridge is nearly done, the downtown revitalization is complete and the reaction, even from some early critics, has been positive. So how have the projects affected commercial real estate on Main Street?

"Every day there is more foot traffic up and down Main Street, more than ever before," said Town Manager Barry Tibbetts, "and naturally more pedestrian traffic is what attracts new business interest into any commercial district."

And despite the tough economy, John Anderson, president of Investcomm Commercial Group in the Lafayette Center, said business this year has been better than last.

"While the downtown improvements haven't been the sole reason for better business, this revitalization has been a positive move, generating inquiries for commercial space in the downtown from both residents and people from out of state," he said. Click here to read the full article by Angus Macaulay of seacoastonline.com

Investcomm Commercial Group Announces Sale at 84/76 Main Street, Kennebunk

Investcomm Commercial Group is pleased to announce the sale of a building located at 84/76 Main Street, Kennebunk to Edward Beckett. John Anderson of Investcomm Commercial Group represented the Purchaser in this transaction. The building will be undergoing extensive renovations over the coming year, housing a mix of commercial and residential tenants. The newest tenants include Main Street Barber Shop, a full service “traditional” barber shop, and The Hive, a dynamic artist’s collective featuring workshops, performances, lectures, independent film, artist’s gallery and craftsman market, with future plans for a framing design center and cafe. The public is invited to The Hive’s grand opening which will be held Saturday July 9th during the Kennebunk downtown revitalization ribbon cutting festival.

Marketing Specialist joins Investcomm Commercial Group

Investcomm Commercial Group is pleased to welcome Lisa Acciai as a marketing specialist. Lisa has a B.A. in graphic design/fine arts and has worked for more than 10 years as a designer for an advertising and web design agency (specializing in both print and web media). Lisa has designed and produced annual reports, advertisements, marketing brochures and complete websites for both fortune 500 companies as well as small businesses. As an aside, she has also worked in the field of interior design as a selection assistant. Her recent design/marketing projects include the design of Investcomm’s new logo and website enhancements.

National Association of Realtors® Mid-Year Meetings

John Anderson, President of Investcomm Commercial Group and Vice President of the Maine Commercial Association of REALTORS® just returned from the National Association of REALTORS® Mid-Year Meetings in Washington, D.C. John along with Peter Harrington, President of the Maine Commercial Association of REALTORS® met with Maine's Congressional Delegation to discuss the state of commercial retail, industrial, and investment statewide.

Heather Swanson, Realtor, joins Investcomm Commercial Group

Investcomm Commercial Group is pleased to announce the addition of Heather Swanson to their group of associates. Heather is a Realtor and licensed real estate agent, and has over 8 years of experience in real estate. She previously worked at Better Homes and Gardens The Masiello Group. She has been recognized for her excellence in the field of residential real estate with Leadership Circle Awards two years running (2004 & 2005).

A native to the area, and active in her community, Heather has over the years been involved. with the Kennebunk/Kennebunkport Chamber of Commerce, Kennebunk Portside Rotary, Kennebunkport Zoning Board of Appeals, Hospice of Southern Maine, FISH/Kennebunk Senior Center, and the Kennebunkport Conservation Trust. Currently Heather owns and operates her own property management business, Rentals of the Kennebunks, LLC.

Before entering real estate, Heather was a per diem licensed Paramedic with the Kennebunkport Emergency Medical Service (KEMS) and United Ambulance Service in Lewiston, and ran her own small business Lone Wolf Enterprises. Prior to that she was active duty military (USAF: 1987-1992), stationed at RAF Upper Heyford, England.

Heather is a member of the National Association of Realtors, Maine Association of Realtors, Maine Commercial Board of Realtors, and New England Commercial Property Exchange.

The Silver Lining

Although this is currently a challenging environment for both commercial real estate owners and investors, it is also an excellent time to consider relocation of an existing business or investment in an income-generating property. 

Landlords and sub landlords may be willing to consider leasing proposals today that they would have rejected out of hand a few short months ago. Qualified investors pursuing properties with solid ‘fundamentals’ should find financing available at reasonable terms and sellers who understand the nature of the marketplace.

$700 Billion and Counting

The Emergency Stabilization Act has been signed into law. Enacted at propping up the US financial system, this bill authorizes the government to purchase up to $700B in distressed mortgage-related assets from financial institutions. The ultimate result of this cash infusion should be a loosening of credit for both residential and commercial borrowers.

Sale-Leasebacks

At a time when it may be difficult for companies to raise capital through the usual sources, sale-lease of owned real estate may be the answer. Essentially, the company sells it’s real estate to an investor and, simultaneously, executes a lease with the investor to occupy the space. The exact terms are subject to negotiation, but are typically pure NNN, with the previous owner/tenant responsible for all operating costs and the investor/landlord receiving a reasonable rate of return on investment.

Energy Clusters

The Baldacci administration would like Maine to reduce its dependence on imported fuels and this winter will present its plan to accomplish that to the Legislature . Part of the answer, it believes, is the creation of an number of strategically-located ‘energy clusters’. 

These ‘energy clusters’ would bring together renewable energy sources and businesses that could utilize some or all of the energy created and/or . Additionally, the plan would result in the creation of thousands of jobs and billions of dollars in business investments.

According to an article in the Portland Press Herald by Tux Turkel, which reviewed the draft plan, the draft indicates ‘the overall result would be the largest economic development project in state history’.

It's Good to be Green

The Energy Policy Act of 2005 includes Section 179D which encourages energy efficiency in building construction by providing tax incentives.

Section 179D rewards upgrades from minimum ASHRAE standards for such items as interior lighting systems, HVAC systems or anything relating to the building envelope. In order to be eligible for the full deduction the upgrade must be at least 50% more energy efficient than the minimum standard. The deduction is the lesser of the cost of the improvement or $1.80 per square foot of related building area and applies to both new construction and building upgrades. Partial deductions are possible, depending upon lower levels of improvement or upgrade. Although this deduction is scheduled to expire 12/31/08 there is a good possibility that it will be extended. Consult your CPA for details.