DEPARTMENT: Transportation & Capital Improvements
DEPARTMENT HEAD: Mike Frisbie, P.E.
COUNCIL DISTRICTS IMPACTED: City Wide
SUBJECT:
On-Call Commercial Real Estate Brokerage Services
SUMMARY:
An ordinance authorizing the execution of three (3) professional services agreements with Providence Commercial Real Estate Services, Inc., Peloton Real Estate Partners San Antonio, LLC and CBRE Inc. for real estate brokerage services related to the acquisition, disposition or leasing of real estate for City needs. Each contract will be for a period of two years, with the City holding the right to renew the contracts with any or all of the firms for two additional one year options.
BACKGROUND INFORMATION:
The City has an ongoing need to acquire, dispose of and lease real estate, both for the City's use and for assets deemed surplus to the City. From time to time, the City real estate management strategy is enhanced if the services of an outside firm, knowledgeable in the local San Antonio market, are employed. Additionally, as provided by Chapter 253.014 of the Texas Local Government Code, the City may contract with a broker to directly sell real property instead of advertising for bids. The previous brokerage contract with Providence did not include this task as the contracts were awarded prior to the amendment of Chapter 253.014.
Services provided by the brokerage contracts may include:
1. Assisting City staff in locating and leasing building space for various City needs;
2. Identify purchase opportunities for land and building required for City needs; and
3. Providing marketing services for City owned property such as vacant land holdings in the downtown area, commercial and residential properties throughout the City.
Procurement of Services
A Request for Proposal (RFP) for On-Call Commercial Real Estate Brokerage Services was released November 18, 2015, with a Pre-Submittal conference held on December 4, 2015, with a su...
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