Real Estate Advisory and Brokerage Services

The Vendor is required to provide real estate advisory services for the agencies.
- The Agency’s Executive Director is empowered by the Act to employ such officers, agents, and employees deemed necessary to operate the Agency efficiently.
- The Agency also operates programs that include down payment and closing cost assistance, pre-development loans, construction monitoring services, multifamily mortgage loan servicing and a wide range of other technical assistance services that are available to prospective homeowners, developers and to the Area at large.
- Objectives:
• Validate agency current and future space requirements
• Assess the condition, functionality and operating costs of the existing Property
• Estimate the market value of the Property, including highest and best use
• Evaluate leasing and acquisition alternatives within state
• Perform a comprehensive financial analysis of all alternatives
• Prepare a cost analysis of maintaining the vacant Property
• Develop a defensible Real Estate Strategic Plan
• Execute the selected strategy in compliance with state laws and District procurement requirements
- Review any existing workplace, telework or space utilization policies or guidance that have been formally or informally communicated to staff.
- Analyze existing floorplans to assess utilization, efficiency, and functional suitability.
- Assess co-location, adjacencies and departmental stacking requirements.
- Conduct an on-site visit to tour and observe existing space conditions and operations.
- Conduct one anonymous online employee survey. The Contractor shall administer the employee survey in a manner that ensures anonymity and confidentiality. Raw data and summarized results shall be provided to the Agency.
- Develop a value estimate for the Property for alternative uses, including under a best use scenario
- The financial analysis shall include at a minimum the following:
• Net present value (NPV) over a 15-year holding period
• Cash flow projections
• Operating costs
• Capital improvement costs
• Other occupancy costs
• Tenant improvement costs
• Relocation costs
• Sensitivity analyses
- Real Estate Strategic Plan
• Executive summary and recommendations
• Description of alternatives evaluated
• Market analysis findings
• Financial analysis and comparative evaluation
• Risk assessment
• Implementation roadmap and schedule.