The Downtown Spokane Partnership (“DSP”) has initiated a Request for Information (“RFI”) process to identify qualified and licensed commercial real estate brokerage firms (“respondent”) with experience in providing commercial real estate brokerage and advisory services, specifically tenant representation, to assist the DSP in leasing the appropriate commercial space for its administrative and field services functions. The selected respondent will be retained to represent the DSP in its pursuit of approximately 3,000-5,000 usable square feet of space(s) in downtown Spokane.
- RFI Issued: February 24, 2023
- Deadline for Responses: March 13, 2023
- Award/Notification: March 23, 2023
Scope of Services
DSP seeks a respondent with a deep understanding of the downtown office and light industrial markets and proven success in combining data analytics, institutional knowledge, and local market understanding. DSP’s office must be located within the BID geographical boundaries: from the BNSF viaducts to the south, Mallon Ave. on the north, Browne St. on the east and Walnut St. on the west (see map). In the future, the BID may expand south of the viaducts to I-90. With this in mind, DSP requires a central location and may continue to combine all operations in one location or separate administrative and field service operations, depending on space needs and availability. DSP additionally requires proximity to public transportation and public parking for staff, with nearby secure parking for 3 company-owned vehicles and 4 company- owned e-bikes.
The selected respondent will research and evaluate all appropriate options, including but not limited to, identifying options to relocate and lease a new office and operations space within the BID. DSP’s tenant transaction may be structured as a direct lease; a sublease with sufficient available term; or conversion of a non-office building.
The selected respondent will be responsible for providing support to the DSP staff in analyzing, negotiating, and closing on the lease of suitable office and operations space. The principal responsibilities of the selected respondent shall be to identify and qualify potential office space(s); conduct due diligence on each space; solicit term sheets from selected buildings; and negotiate the selected real estate transaction to minimize DSP’s overall occupancy costs. Specific services may include, but are not limited to, the following:
- Prepare an informal market study of available space options, along with an interpretation and assessment of relevant market trends;
- Conduct due diligence investigation of each potential site’s specific suitability for DSP’s requirements;
- Assist in determining appropriate shortlist of candidate space(s);
- Prepare and negotiate landlord lease agreement(s);
- Analyze initial term sheets received – both financial and non-financial proposed terms, as well as build-out cost and timeframe implications;
- Assist in selecting a primary and fallback location(s);
- Solicit draft transaction documents from selected landlords;
- Assist with lease negotiation process;
- Coordinate execution of all transaction documents, evidence of insurance, etc.;
- Other services as requested.
Interested brokers should provide information requested below and package in PDF format. Responses should be emailed to email@example.com no later than 5 p.m. (PT) on Monday, March 13, 2023. False, incomplete, or unresponsive statements in connection with a respondent’s information may be sufficient cause for its rejection by DSP. The DSP reserves the right to request additional information from any respondent to this RFI. Upon receipt of the written responses, the finalists may be invited to make a presentation before the DSP executive committee.
Submit all questions to:
Emilie Cameron, Downtown Spokane Partnership
10 N. Post Street, #400, Spokane, WA 99201 — 509.456.0580 — firstname.lastname@example.org