Real Estate Brokerage Services

Bid Classification: Services Bid Type: RFP (non-binding) – short form Bid Number: RFP-330-2024 Bid Name: Real Estate Brokerage Services Bid Status: Open Bid Closing Date: Fri Mar 22, 2024 8:00:00 PM (EDT) Question Deadline: Mon Mar 11, 2024 2:00:00 PM (EDT) Duration in months: 36 Negotiation Type: Refer to bid document Condition for Participation: Refer to bid document Electronic Auctions: Not Applicable Language for Bid Submissions: English unless specified in the bid document Submission Type: Online Submissions Only Submission Address: Online Submissions Only Public Opening: No Description: PROJECT BACKGROUNDMPAC currently utilizes the services of an external Real Estate Brokerage acting as MPAC’s representative for all facility lease negotiations and transactions. PROJECT SCOPEThis Request for Proposals (RFP) is being issued to interested Respondents to engage a professional, qualified, and licensed real estate brokerage who is in good standing with the Ontario Real Estate

Association (OREA) and the Real Estate Council of Ontario (RECO) for the provision of the deliverables noted below to MPAC in a timely and efficient manner.MPAC makes no guarantee of any value, or volume of work to be assigned to any Successful Respondent. Generally, engagements for new lease agreements are for a five (5) year term and engagements for lease extension and amending agreements are for an additional five (5) year term. Term durations may vary at MPAC’s discretion. The agreement to be negotiated with a Successful Respondent, if any, will not be an exclusive contract for the provision of the described deliverables. MPAC may contract with other firms or individuals for the same or similar deliverables to those described in the RFP or may obtain the same or similar deliverables internally.PROJECT DESCRIPTION AND OBJECTIVE(S)The Successful Respondent will:1. During the Contract Term, only interact with designated MPAC representatives as identified by the Director, Facilities Management.2. Facilitate an annual meeting with designated MPAC representatives to provide a market update report specific to the municipalities within Ontario where MPAC currently has physical office space and provide context outlining past, current, and future market trends, related to Leasing.3. For each new facility lease project:a) Participate in a kick-off meeting with designated MPAC representatives to:i. Gain an understanding of the specific requirements for the existing and/or proposed new facility/space options.ii. Describe conditions that currently exist in a similar industry to MPAC and benchmark industry standards relating to real estate and office space accommodation.iii. Establish a selection criterion rating/weighting chart.iv. Provide a high-level preliminary survey of available facility/space options including discussions with existing Landlord.v. Prepare a preliminary high-level project schedule.b) Identify and analyze conceptual alternatives and provide a high-level market comparisons.c) Conduct site tours of recommended short-list facility/space options, with MPAC representatives, to assist in determining a minimum of four (4) preferred facility/space options.d) Provide a detailed audit of the minimum four (4) preferred facility/space options and the current location.e) Conduct follow up site tours of the preferred facility/space options with MPAC representatives.f) Prepare a Letter of Intent and/or an Offer to Lease, for review and approval of designated MPAC representatives.g) Conduct all lease negotiations (whether for an existing facility/space lease extension and amending agreement or for a new facility/space lease agreement). Utilize various negotiating strategies/exclusive models.h) Provide regular schedule updates inclusive of all critical dates.i) Negotiate and finalize all lease documents. Bid Document Access: Bid document preview, bid opportunity, and award notices are available on the site free of charge. Suppliers are not required to register for a bid opportunity prior to previewing unsecured bid documents. Please note, some documents may be secured and you will be required to register for the bid to download and view the documents. To obtain an unsecured version of the bid document and/or to participate in this opportunity, an annual or a per bid fee must be paid (annual fee - $418.95, per bid fee - $125.75). Trade Agreements: Show Trade Agreements [+] Canadian Free Trade Agreement (CFTA) Categories: Show Categories [+] Consulting Services - Professional Services Real Estate Leasing/Rental