xml:space="preserve">
xml:space="preserve">
Advertisement

Orange County posts RFP for real estate representative services

Orange County is seeking a real estate representative to help with its purchase, sale and leasing of land, office and warehouse space, publishing a Request for Proposals (RFP) on Thursday.

This real estate representative service provider role has been filled by CBRE, Inc. since 2011, on a contract now expiring this Dec. 13.

Advertisement

The representative would be expected to provide comprehensive market review of target properties, prepare proposal comparisons and recommend "best fits" to the Real Estate Management Division, assist in planning space to maximize workflow, and negotiate lease and purchase terms on behalf of the county, among other duties.

Details on the level of experience sought by the city for this new contract opportunity, and a timeline looking forward.

The county plans to enter into a three-year term contract, with renewal clauses for two additional one-year terms for the real estate representative.

The county will evaluate applicants based on the qualifications of each firm and its staff, their proposed technical approach to real estate marketing, experience with similar sized clients, their desired commission rate and more.

In that expiring contract, CBRE had an agreement to take "a market brokerage commission" from only the tenant or purchaser portion of a brokerage fee when they represented the county in that capacity, and for only the landlord or seller portion of a brokerage fee when it represented the county in that role.

For new acquisitions (lease or purchase), CBRE's past contract gave it commissions paid by the lessor of 10 percent to 35 percent depending on the transaction size. On lease renewals it ranged from 10 percent to 50 percent paid by the lessor.

Proposals are due to the county's procurement division by Dec. 15 at 2 p.m. Questions can be directed to the county's procurement division manager Perry Davis through Nov. 29.

Materials for RFP no. Y17-141-PD can be found on the Orange County bids website.

Have a tip about Central Florida development? Contact me at bmoser@growthspotter.com, (407) 420-5685 or @bobmoser333. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.

Advertisement
Advertisement