REQUEST FOR QUALIFICATIONS
COMMERCIAL REAL ESTATE BROKERAGE FIRMS/COMMERCIAL REAL ESTATE
BROKERS
Procurement No. 05-13
June 23, 2014
Dear Brokers:
The CareerSource Broward Council of Elected Officials and the Broward Workforce Development Board, Inc., through their administrative entity, CareerSource Broward (CSBD) is issuing this Request for Qualifications ("RFQ") for Commercial Real Estate Brokerage Services. CareerSource Broward is seeking proposals from licensed commercial real estate brokerage firms or brokers with experience in providing commercial real estate brokerage and advisory services regarding commercial leasing and/ or purchase transactions. The selected broker will represent CareerSource Broward in its pursuit of approximately 16,000 – 18,000 usable square feet which may be retail space, office space, strip mall, mall or taxpayer type space to house the CareerSource Broward North One-Stop Career Center. CSBD is considering both purchase and lease options.
Additional details regarding the space and location may be found in the specifications included as a part of the Request for Qualifications (RFQ). The RFP is electronic and can be accessed from the CSBD website http://www.careersourcebroward.com. Interested proposers will need to register in order to be able to download the RFP so that they can also see all RFP questions and answers.
RFQ responses must be received by July 31, 2014, 4:30 p.m., after which date CSBD will not accept proposals.
The RFQ is structured as a yes/no, fill in the blank application to make it easy to complete and apply. Responders are also requested to submit some exhibits.
ATTN: Legal Department
CareerSource Broward
6301 NW 5th Way, Suite 3000
Fort Lauderdale, FL 33309
Sincerely yours,
Mason C. Jackson
President/CEO
INTRODUCTION
CareerSource Broward (CSBD) is the administrative entity for the Broward Workforce Development Board, Inc. (BWDB), and the CareerSource Broward Council of Elected Officials (Council). The BWDB is a majority private sector board appointed by the Council.
CSBD receives federal and state grants to provide workforce and employment services in the Broward County area. Many of these services are provided through one-stop career centers mandated by the grants.
CSBD is seeking approximately 16,000 square feet in an existing building to be used for the Career Center. Interested brokers can visit any of the three one-stop centers to get a better idea of the use and type of space needed and to determine whether this assignment is within their experience and abilities. The addresses are listed on the CareerSource Broward website.
Ideally, the space would be within the following boundaries in Broward County, Florida:
South / of Wiles RoadWest / of I-95
North / of Atlantic Blvd.
East / Of University Drive
However, CSBD will consider space that is outside the boundaries, but is still in the north part of the county and meets the other criteria established for the space.
SPECIFICATIONS
A. Broker Minimum Requirements
CSBD will accept and evaluate proposals only from brokers that meet ALL of the following four (4) requirements:
1. Licensing: All real estate professionals responding to this RFQ must be real estate brokers ("brokers") licensed pursuant to Florida Statutes Chapter 475 and in good standing in the State of Florida as of the date of submittal of their Application. Only one submittal will be accepted from each firm, organization, or company.
2. Broker Profile: Brokers must provide real estate brokerage services to Broward County commercial clients from an office within Broward County. Only one submittal will be accepted from each firm, organization or company; competing "branch" offices or competing teams from the same corporate entity may not submit separate proposals. In calendar year 2013, the total value of all leasing deals completed by broker in Broward County must have been at least $1,000,000 and the total value of all purchase/sale deals completed in Broward County must have been at least $10 million.
3. Broker Experience: The account executive(s) / lead brokers who will be assigned to the CSBD account must each have a minimum of five (5) years experience in providing commercial real estate brokerage services to clients. Within the last three (3) years, these brokers must have represented tenants in a minimum of ten (10) completed leasing or purchase transactions of at least 10,000 useable square feet each for Class A or B commercial office or retail space in the Broward County area.
4. Conflict of Interest with CSBD: The brokers who will be assigned to the CSBD account must not currently have a listing engagement with the CSBD current landlord, Savitar, Inc., who is the lessor for the North One-Stop Center. Nor can the broker have a listing engagement with Delma Properties, Inc., the lessor for the CSBD administrative offices. Additionally, broker must disclose any conflicts of interest with CDBD board members or elected officials. The list of board members and elected officials can be found on the CSBD website.
B. Purchase/Lease Goals
1. CSBD is interested in the lease or purchase of a building as described below:
a. CSBD conducts its one-stop career center operations in the north, central and south parts of Broward County. Two of the centers are in state owned buildings. The third center, the north center, is leased from a private owner. This is the space for which CSBD is seeking broker services for a lease or purchase.
b. The north one-stop center houses about 55 staff and they see about 20,000 visitors annually.
c. Locations in a strip mall or shopping center are options CSBD would like to explore as this would offer sufficient parking. A copy of the previous Request for Proposal specifications for the space is posted on the CSBD website as a part of this RFQ. None of the responses received when the RFP was released earlier this year were ideal in meeting the CSBD space requirements. CSBD would like to expand the type of properties to be considered and the boundaries listed in the introduction.
d. The north office lease expires in September of 2014 and CSBD has negotiated a six month extension. The space is 16,409 square feet of usable area on street level, which is CSBD’s preference.
2. To accommodate staff and visitors approximately 100 parking spaces are desirable. CSBD does not anticipate any substantial changes to its functions in the space in the foreseeable future
C. Future Office Space Considerations
1. CSBD also has an administrative office located of I-95 and Cypress Creek Road in Fort Lauderdale, Florida. The CSBD current lease for its administrative offices expires in December 31, 2016.
a. CSBD may use the Broker procured under this RFQ to assist in acquiring new space if the current lease is not renewed or if a decision is made to lease space for the North Office, to secure the purchase of a building for the administrative offices.
b. The administrative office houses about 50 staff in individual offices spread across about 20,000 square feet and includes several small and one large conference room the of which is sufficient to hold meetings of a 33 member governing board.
2. Such other space as may be needed during the life span of this RFQ.
D. Scope of Services to be Provided Under the Contract
1. The selected broker will be responsible for providing support to the CSBD staff and Board in analyzing, negotiating, and closing on the lease and/or purchase of suitable space for the north one-stop career center.
2. The principal responsibilities of the selected broker shall be to identify and qualify potential buildings; conduct due diligence on each building; solicit term sheets from selected buildings; and negotiate the selected real estate transaction to minimize the CSBD’s overall occupancy costs.
3. Specific services may include, but are not limited to, the following:
a. Visit and review the space in the 3 one-stop career centers to better understand the CSBD space needs so as to be able to identify appropriate building and locations.
b. Review the CSBD geographical parameters.
c. Identify all suitable available space options.
d. Assist CSBD in determining a shortlist of candidate buildings if applicable.
e. Review and assist in the negotiation of landlord lease and/or building purchase agreements.
f. Assist in analyzing initial term sheets received - both financial and non- financial proposed terms, as well as build-out cost and timeframe
implications.
g. Be able to compare the alternatives for CSBD.
h. Assist CSBD in selecting a primary and fallback locations as applicable.
i. Solicit draft transaction documents from selected landlords and/or sellers.
j. Assist CSBD and their legal counsel with lease and/or purchase negotiation process.
k. Assist with the negotiation and placement of a mortgage in the event of a purchase.
l. Coordinate execution of all transaction documents, evidence of insurance, non- disturbance agreements, etc.
m. Other services as requested.
E. Contract Pricing
Compensation for the entire scope of services as indicated in this RFQ, including information gathering, marketing and any additional/specialty support services related to potential sale, purchase or lease transactions shall be through commercial real estate brokerage commissions based on sale price, purchase price or total rental consideration, as follows:
1. Purchase Commission - Should CSBD complete a transaction for the purchase of any real property, CSBD expects that broker will be entitled to a brokerage commission paid by the seller of the building, pursuant to a commission split agreement between the CSBD broker and seller's broker, in accordance with standard market practice. Broker will warrant that this is the case, and/or state other commission scenarios for consideration, if any, that it feels may be relevant.
2. Leasing Commission - Should the CSBD complete a transaction for the lease of office space, CSBD expects that broker will be entitled to a brokerage commission paid by the owner/landlord of the building, pursuant to a commission split agreement between broker and landlord's broker, in accordance with standard market practice. Broker will warrant that this is the case, and/or state other commission scenarios for consideration, if any, that it feels may be relevant.
3. Broker will warrant that brokerage commissions paid by parties as stated above are the only compensation (direct or indirect) that will be received by the individuals/firm from transactions contemplated under this RFQ. In the event that no transaction occurs as a result of this engagement, broker shall not be entitled to compensation or reimbursement.
4. One of CSBD’s primary goals is to extract the maximum value both in terms of reducing occupancy costs and monetizing its transactional leverage. Please include in your proposal any creative ideas for maximizing CSBD’s financial outcomes.
GENERAL INFORMATION and APPLICATION CRITERIA
1. Accessing the RFP Document and Attachments
Interested brokers or firms must access the RFP from the CSBD website http://www.CareerSourcebroward.com. Applicants are requested to register their agency and contact information (agency name, address, phone, fax, email, etc) as instructed on the website. Applicants are responsible for checking the website for additions, modifications, as well as questions and answers concerning this RFQ.
2. Application Due Date And Review Process
Below is the schedule and dates for the submission and award process
Event / Date – Time – LocationRFQ Open to the Public / Week of June 23, 2014
Deadline for Posting Written Questions / July 25, 2014
Deadline for Proposal Submission / July 31, 2014 By 4:30 P.M.
CSBD Administrative Offices
Application Review Committee / August
Contract Start / August
3. Proposals should be submitted to:
CareerSource Broward
6301 N.W. 5th Way, Suite 3000
Fort Lauderdale, Florida 33309
Submittal of a proposal shall constitute an irrevocable offer for 120 business days following the deadline for its submission. Reference to a certain number of days in this RFQ shall mean business days unless otherwise specified.
4. The RFP Response Package
a. The RFQ response package consists of the completion of the Application, and all submission of the requested Exhibits.
b. Applications must be completed using the form provided.
c. The Application and exhibits must be submitted in loose leaf/three (3) ring binders only, (not folders). Each copy of the Application and exhibits must be in its own binder.
d. Please submit one (1) complete application with original signatures and all exhibits and seven (7) complete copies with all exhibits for a total of eight (8) sets each in its own binder. The package containing the original and all the copies of the Application should be securely sealed and clearly marked outside: “Broker RFQ,” submitted by “Name of your Agency.”
e. Submittals should include all Exhibits and should not direct reviewers to general brochures, marketing materials or websites to obtain information related to the specific submission requirements. Submittals that utilize references to external materials as an answer will be considered non-responsive. Hard copy brochures and marketing materials may be included as a supplementary exhibit.
5. Inquiries and Questions about the Application
All questions should be transmitted to CSBD as instructed on the website. All questions must be submitted by July 25, 2014. CSBD will post the questions and responses on its website. Applicants should check the website often.
6. Applicant/Broker References
Applicants must submit three (3) letters of references from clients for whom they have closed deals in the past three (3) years.
7. Selection Criteria
a. All Applications submitted will be evaluated against all other proposals using the rating criteria, which is a part of this RFQ package, and ranked by a review committee.
b. In general the highest ranked Application is selected but other factors which may be considered include but are not limited to relevant experience and qualifications, or financial viability and stability of the agency.
c. CSBD reserves the right, at its sole and complete discretion, to short list Applications.
d. Following the initial review and screening of the written Applications, using the selection criteria described below, several applicants may be invited to participate in the final selection process, which may include participation in a formal presentation and/or submission of any additional information as requested by the CSBD.
e. CSBD reserves the right to determine the suitability of proposals on the basis of a applications meeting administrative requirements, technical requirements, the review team's assessment of the quality, performance and cost of the proposed broker.