Placement: Consent Agenda
Action Requested: Motion / Vote
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Award Contract #20250017 Real Estates Broker Services.
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Submitted By: Keith Stewart, CPP, Procurement Management Division (PMD).
Strategic Plan Link: The City's Goal of a diverse local economy and employment opportunities.
Summary Brief (Agreements/Contracts only)
1. Prepared by: Keith Stewart, CPP, PMD.
2. Parties: City of Port St. Lucie and Cushman & Wakefield U.S., Inc. ("Cushman & Wakefield")
3. Purpose: The City is currently evaluating all City owned property and identifying properties to be sold and/or leased. The Broker/Agent will provide integrated listing and marketing services.
4. New/Renewal/Modified: New.
5. Duration: Two years with an option to renew for three (3) additional one (1)-year periods.
6. Benefits to Port St. Lucie: To provide brokerage, marketing, advisory and other associated services for the sale of properties owned by the City and purchase of properties that support the City Council's Strategic Plan. The City's goal is to sell or lease properties for future development to create jobs and increase the City tax base.
7. Cost to Port St. Lucie (Annual and Potential): The commission rate for Cushman & Wakefield is 4% of sale or lease prices.
Presentation Information: N/A.
Staff Recommendation: Move that the Council award contract #20250017 for Real Estate Broker Services to Cushman & Wakefield.
Alternate Recommendations:
1. Move that the Council amend and approve the recommended proposal.
2. Move that the Council reject all bids and provide staff with direction to resolicit or cancel the Request for Proposals.
Background: The City issued a Request for Proposals (RFP) to solicit proposals from national, regional, and local licensed commercial real estate agencies that have the experience, nationwide network reach, infrastructure, and personnel to market, secure, and sell or lease real estate owned by the City. The professional real estate broker services r...
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