STRATEGIC PRIORITY: Core
AGENDA DATE: June 25, 2025
COUNCIL DISTRICT(S): Citywide
DEPARTMENT: Department of Facilities and Real Estate Management
EXECUTIVE: Donzell Gipson
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SUBJECT
Title
Authorize a professional services contract for real estate consulting services with CBRE, Inc., in an estimated amount of $400,000.00 - Financing: General Fund
Body
BACKGROUND
This contract is being established in accordance with A.D. No. 4-5, Contracting, Paragraph 10.5.6 (A) for Special Need/Justification, which allows for consulting services to be contracted with a specific firm when the experience indicates one consultant can best provide the required service. CBRE, Inc. (CBRE) is uniquely positioned to provide the required services based on its extensive and recent experience with the City's real estate operations, portfolio and prior contractual engagement. Approval of this special needs request will allow for continuity of service and prevent delays in critical real estate initiatives.
CBRE has previously served as the City's real estate brokerage and advisory firm under a contract that included two allowable extensions, both of which were exercised. A new formal solicitation is currently in process, with the new contract potentially not in place until late summer or early fall of 2025. In the meantime, Department of Facilities and Real Estate Management (FRM) must continue to advance priority real estate efforts that align with the City Council and the City Manager directives. Several time-sensitive real estate projects require immediate and ongoing support. Delays in these efforts could result in missed market opportunities or diminished returns due to changing economic conditions. The key services CBRE provides but are not limited to real estate advisory and strategic planning, market research and valuation analysis, collaboration with departments, recommendations related to industry best p...
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