REQUEST FOR QUALIFICATIONS: COMMERCIAL REAL ESTATE BROKERAGE SERVICES

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June 30, 2022

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REQUEST FOR QUALIFICATIONS (RFQ)
COMMERCIAL REAL ESTATE BROKERAGE SERVICES 

SECTION I – INTRODUCTION: 

The DowntownDC BID (after this, referred to as “BID”) seeks a Commercial Real Estate Broker (after this, referred to as “Vendor”) to provide commercial real estate brokerage services. The Vendor will offer a range of real estate services, including strategic planning, lease acquisition, tenant representation, and lease/contract negotiation. The BID intends to award a single contract for these services.

Vendors are invited to respond by 5:00 P.M. ET Friday, July 29, 2022. Direct all submissions, in PDF, by email to Yohance Fuller at yohance@downtowndc.org. Electronic submission must be labeled “Statement of Qualification – Commercial Real Estate Services.”

Inquiries regarding this RFQ must be submitted, by email, to Yohance Fuller no later than 5:00 P.M. ET Friday, July 15, 2022.

The BID will respond to questions on or about July 22, 2022.

Vendor selection will be made on or about August 31, 2022.

All dates are subject to change at the BID’s sole discretion.

SECTION II – BACKGROUND: 

The BID is a private nonprofit organization that provides capital improvements, resources, and research to keep the BID area clean, safe, economically and environmentally strong, and accessible. The BID’s mission is to be a catalyst, facilitator and thought leader in diversifying the economy, promoting public/private partnerships, and enhancing the Downtown DC experience. The BID area encompasses 138 blocks, stretching from the White House to Union Station and the National Mall to the Walter E. Washington Convention Center. Specifically, these boundaries are 16th Street NW and the White House grounds to the west, North Capitol Street NW to the east, Constitution Avenue and Louisiana Avenue NW to the south, and Massachusetts Avenue NW to the north (including the area surrounding the Walter E. Washington Convention Center). Currently, the BID’s operations are located at the following locations:

Address Title Size
1275 K St NW, Washington, DC 20005 DowntownDC BID Corporate HQ 12,044 SF
1313 New York Ave NW, Washington, DC 20005 Downtown Day Services Center 6,440 SF
1229 New York Ave NW, Washington, DC 20005 Safety/Hospitality and Maintenance Ambassadors (SAM) Operations Office 3,706 SF

SECTION III – COMMERCIAL REAL ESTATE SERVICE NEEDS: 

The BID seeks a Vendor to provide the below services and any other services that the BID may have assigned within commercial real estate services. The BID anticipates the selected Vendor will assist the BID with managing the BID’s real estate portfolio.

  • Real Estate Consulting Services:
    • Strategic Planning for BID Space Needs
      • Evaluate the BID’s space and overall square footage to the BID’s workplace guidelines.
      • Identify areas of underutilization and opportunities for the reduction of lease space; and
      • Make recommendations for consolidation and lease renegotiation.
    • Reduction of Lease Costs
      • Review market factors and determine which locations and leases are above market rate.
      • Develop space utilization profiles for sites.
      • Recommend strategies for the BID to operate more efficiently to reduce cost and maximize space.
  • Real Estate Document Preparation:
    • Negotiate Leases/Document Preparation
      • Prepare and arrange real estate documents for lease acquisition and other real estate transactional tasks as assigned.
      • Provide additional staffing resources as needed to respond to fluctuation in workload and agreement timelines for the production of documents.
      • Work directly with the BID’s legal representation to prepare documents. The BID’s legal representation shall review documents for legal sufficiency and approve any documents produced by the Vendor.
  • Tenant Representation:
    • Site Location, Market Analysis, and Acquisition services –
      • Prepare lease proposal per applicable solicitation policies and procedures.
      • Review availability of existing space and new space.
      • Determine and analyze landlord proposals for the best value to the BID.
      • Research market for appropriate space alternatives.
      • Identify and address small and significant space needs across the BID for all types of uses and assist the BID in acquiring the pertinent leases.
      • Prepare market surveys that address the following:
        • Asking price and business terms of lease proposed for the site(s) selected and prepared an abstract of all the business terms of the recommended site.
        • List all the comparable sites evaluated and ask for terms.
        • Pertinent market data to justify the recommended transaction (including the negotiated terms of actual leases in similar properties whenever possible).
        • A report on the existence and condition at the recommended site of any known building or fire code violations, engineering, structural, or any other potentially hazardous situation.
        • Prepare cost analysis of rent and other costs of each site.
        • If more than one site satisfies the BID’s needs, the Vendor will recommend the most appropriate space upon a comparative financial analysis and best value.
      • Arrange an inspection of appropriate sites for the BID.
      • Determine whether the site is suitable for the BID’s needed (ex. adequate electrical power, HVAC, floor load, meets structural and parking requirements).
      • Provide information on landlord performance and related compliance.
      • Provide emergency lease support in case of a catastrophic event that requires immediate relocation.

SECTION IV – RFQ RESPONSE REQUIREMENTS: 

Vendors must submit responses no more than fifteen (15) pages total. Generic marketing and promotional material may be utilized, but responses tailored to this RFQ are strongly preferred.

  • Requirement One – Vendor Profile (not counted towards fifteen (15) page limit):
    • Provide full legal business name, street, and mailing address of its principal place of business and all locations from which work will be performed if different from the main office. Each Vendor must state whether it is registered or qualified to do business in the District of Columbia.
    • Provide background, including its founding and history, principal owners, number, and any other entity information Vendor would like the BID to know.
    • Provide the name, title, and contact information for the Vendor’s lead agent, directing and coordinating the work.
    • If the Vendor intends to partner with other entities to perform the work, including subcontractors, it must clearly explain this collaboration. The Vendor must provide the names and qualifications of such third parties and describe the relationship history and the intended responsibilities.
    • Identify any known related-party relationship between the Vendor (or its owners, officers, directors, agents, or primary members) and the BID.
  • Requirement Two – Experience and References:
    • Provide a statement certifying the Vendor is permitted to conduct business in the District of Columbia. The lead agent assigned will have the knowledge and expertise to meet expectations. The agents assigned will be licensed and in good standing with District of Columbia licensing requirements.
    • Describe Vendor’s relevant knowledge and experience specific to work in Section III.
    • Individuals assigned to the BID’s account provide their relevant experience, qualifications, licenses/certifications, and any knowledge of servicing government or nonprofit clients.
    • Provide a list of pending and completed commercial acquisition or leasing transactions within the past three (3) years overseen by the Vendor’s lead agent, specifically as a buyer/tenant representative. Also, identify the property’s location and square footage and the type of client represented either government, nonprofit, or corporate.
    • Provide three (3) references for business clients preferably of similar size and in a similar situation as the BID for whom the Vendor has provided comparable services. References from a government entity or nonprofit clients evidencing the Vendor’s research capabilities and the experience of proposed team members are highly desirable. Please provide contact information, a description of services offered, and a service date for each reference.
  • Requirement Three – Strategy/Approach:
    • Describe the approach to support the BID. Explain the methods and tools used for information gathering and communication with the BID, Vendor’s organization, roles, responsibilities, practice to keep the BID apprised of project status, and any other related details.
    • Provide samples of commercial real estate site location analyses and space needs assessment prepared by the Vendor. Include the table of content from these reports. If none, provide sample pages from another real estate advisory report completed by the Vendor along with its table of content.
  • Requirement Four – Commission/Fee Structure:
    • Describe the proposed compensation for services in Section III, including site search, brokerage, and negotiation services (e.g., commission, fee-for-service, hybrid). Specify which services are included in this compensation and which would require additional fees. Identify pricing assumptions. Unless expressly requested by the BID, the Vendor should not include a standard form of agreement or service terms and conditions.
  • Requirement Five – Declaration:
    • Provide details of any conditions that would adversely affect the Vendor’s performance under a contract with the BID.
      • Indicate whether the Vendor is currently for sale or involved in any transaction to expand or become acquired by another business entity. If so, explain the impact both in organizational and directional terms.
      • Provide details of all past or present litigation or claim filed against the Vendor.
      • Indicate whether the Vendor is currently defaulting on any loan agreement or financing agreement with any bank, financial institution, or other entity.
      • Provide a claims history under professional malpractice insurance for the past five (5) years for the Vendor, and any team member proposed to provide services.

SECTION V – FORMAT FOR RESPONSES: 

Vendor responses shall provide a concise description of the Vendor’s ability to meet the requirements of this RFQ. Emphasis shall be on the quality, completeness, clarity of content, responsiveness to the requirements, and an understanding of the BID’s needs.

  • Qualifications shall include the following sections:
    • Cover
    • Cover Letter
    • Table of Contents
    • Requirement One
    • Requirement Two
    • Requirement Three
    • Requirement Four
    • Summary
  • Cover shall include the RFQ title, Vendor name, and contact information.
  • The Vendor’s principal or any duly authorized entity representative shall sign the cover letter.

SECTION VI – AWARD:

The BID will use information obtained from the RFQ to determine, in its sole discretion, the Vendor that the BID Determines to be in its best interest. Price is an essential factor, but it may not be the only basis for the award.

SECTION VII – BID RESERVATIONS:

In addition to any rights set forth elsewhere in this RFQ, the BID reserves the right to take any of the following actions, at its sole discretion, at any time:

  • Accept or reject any or all submission, in whole or in part, and to award or not award a contract based on submissions received;
  • Waive any technical, informalities, irregularities, or non-material deficiencies in a submission;
  • Waive any non-material specification(s) that cannot be complied by any Vendor;
  • Waive any informality in the RFQ process if doing so, as determined solely by the BID, is in the BID’s best interest.
  • Conduct discussions with any or all vendors for clarification or modification of their submissions;
  • Arrange to receive work from other providers, or obtain or perform the work itself, sought under this RFQ;
  • Solicit additional or new submissions from anyone;
  • Clarify, supplement, modify, suspend, or terminate the RFQ in whole or in part, or withdraw and reissue a new RFQ with terms and conditions materially different from the RFQ;
  • Obtain information from any sources concerning a vendor that the BID considered relevant to the RFQ and consider such information in evaluating the submission;
  • Make a whole award, multiple-award, a partial award, or no award;
  • Disqualify any Vendor who conducts or submissions fails to conform to the requirements of the RFQ;
  • Set aside the original successful response if the BID determines that the Vendor cannot fulfill the BID’s needs for any reason. The BID may award the contract to a different responsible Vendor but is not obligated.

SECTION VIII – OUR COMMITMENT TO SUPPLIER DIVERSITY:

The BID is committed to maintaining a diverse supplier and vendor base and building relationships with suppliers and vendors that reflect the diversity of the District of Columbia, BID, its clients, and its communities. Vendors must demonstrate that ownership/leadership and personnel working on this engagement reflect the BID’s diversity objective especially racial and gender diversity.

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