Commercial and Retail Real Estate Brokerage Services

The Vendor is required to provide commercial and retail real estate brokerage services for include:
- Transaction management services
•    The broker will serve as the exclusive listing representative for the subject parcels depicted on attachment b-2 at airport. 
•    The broker is expected to provide strategic marketing for lease of the subject parcels and any facilities located thereon. 
•    The broker will provide status updates and activity reports to the director of airports upon request.
•    Broker will appoint one or more broker employees, as mutually agreed to by the director, as a transaction manager to supervise and coordinate all transaction related services (“transaction manager”). 
•    The transaction manager shall supervise and coordinate transactions and advise and make recommendations to the director with respect thereto.
•    The transaction manager will coordinate transaction strategy, resource allocation, and process consistency on transactions.
•    Broker shall formulate a marketing plan for the advertising of the subject parcels.
- Brokerage services
•    Monitor and analyze comparable transactions and market value. 
•    Assist with determining the highest and best use. 
•    Perform market and feasibility analysis to identify potential commercial retail businesses that may be suitable for tenancy on the airport; 
•    Provide quarterly reporting on activity status, marketing campaigns, and other tasks as requested. 
•    Develop marketing strategies to assist in attracting viable and suitable prospective retail businesses to enter into lease agreements with the trust and to promote airport will rogers international airport and create market awareness; 
•    Perform outreach to prospective tenants, developers, investors, other real estate brokers and agents, and other interested parties. 
•    Familiarize prospective tenants with the trust’s standard leasing terms and conditions 
•    Timely present any offers to the director or counter offers to a perspective tenant including transactional key terms.
•    Draft or assist airport staff with the preparation, evaluation and analysis of any requests for proposal, request for bids, or other pro forma related to the leasing of the subject parcels. 
•    Facilitate negotiation and drafting of leases that is agreeable to the director and prepared with sufficient detail for presentation to the trust and city. 
•    Facilitate the negotiation of letters of intent. 
•    Perform any necessary due diligence review of the premises to be leased or the prospective tenant. 
•    Collection of any applicable earnest money. 
•    Recommend lease rental rates and other appropriate fees for each transaction. 
•    Coordinate with legal counsel designated by trust. 
•    Provide summary report of transaction for final review and approval by trust in conjunction with execution of documents. 
•    Coordinate and obtain any necessary appraisal. 
•    All other services normally provided by brokers and leasing agents within the commercial real estate services industry in the region in which the relevant facility is located.
- Appraisal services
•    Broker, on behalf of and for the benefit of the trust, shall help to coordinate and secure confidential qualified appraiser(s) as necessary to establish a fair market value for the leasing of airport property or to determine equivalent sales data.