Commercial Real Estate Broker Services

The Vendor is required to provide commercial real estate broker services sought may include, but are not limited to: portfolio analysis and strategy recommendations; pro-forma development and updates; market analysis; marketing of available space; tenant solicitation; site tours; status meetings and reports; and presentations.
- Due diligence
• Perform initial and ongoing analysis of the market. Review and assess city retail market context including similar and competitive properties, asking rents, vacancies, and recent transactions, among other information.
• Perform asset assessment including all review that a broker will typically conduct to understand the physical, economic, and legal characteristics of each of the subject properties it has been requested to market for lease, including personal inspection of the property and its environs.
• Obtain and organize due diligence materials after reviewing available information including authority files relating to the property and for the marketing and leasing of the property.
- Analysis
• Use methodologies generally recognized by brokers as necessary to find qualified and capable tenants in leasing comparable properties in city and which methodology is designed to meet authority objectives for leasing the property, considering authority requirements as communicated by the tjp authority a to respondent, as well as any conditions and restrictions benefiting or burdening the property and any unusual characteristics of the property.
• Market analysis to inform broker’s financial analysis and assessment of the financial returns to the authority for leasing the property with a focus on maximizing revenue to authority.
- Marketing materials
• Marketing or leasing plan for the property for authority review and approval.
• Offering or leasing memoranda and all essential marketing materials to canvass for tenants directly, through the brokerage community or via networking at industry events.
- Investor or developer/tenant solicitation
• Suitable investors, developers, or tenants for the leasing opportunities and, with authority approval, share those opportunities through outreach to stakeholders identified by authority, which may include neighborhood advisory committees and authority tenants, and assist in navigating the approval process.