Denver Urban Renewal Authority (DURA) - Proposal Due June 16, 2023
The FULL RFP including Proposal Guidelines, Evaluation Criteria, Selection and Implementation Timelines are available at: https://renewdenver.org/rfp-procurement/
Responses must be prepared according to this Request for Proposals and delivered by electronic mail only to:
Contact Phone Number 303.534.3872
The Denver Urban Renewal Authority is seeking/searching for a Colorado-licensed Commercial Office Broker to support in identifying suitable options for office space in Downtown Denver, which is anticipated to be in the range of 5,000-10,000 square feet. The commercial office broker will report to the Executive Director but may also advise a wide range of other DURA leaders, including the Administrative Services Director, Director of Community Investment, Chief Financial Officer and DURA Board Executive Committee.
COMMERCIAL OFFICE BROKER SERVICES
DURA is accepting proposals to provide commercial office real estate brokers expertise. The commercial office broker should prepare a comprehensive market study of available space options, along with an interpretation and assessment of relevant market trends to locate DURA’s office space. Below are potential minimal deliverables expected from the commercial office broker:
1. A strategic analysis of DURA’s office needs
a) Analyzation of DURA space requirements and suggest any additional resources necessary to support DURA’s workplace strategy and optimal utilization (i.e., project management, workplace strategies consultant, architect recommendations, etc.)
b) Review and incorporate DURA's geographical parameters
c) High-level budget expectations and alignment with DURA for all anticipated costs (i.e., rent, construction, project management, architecture, furniture, AV, moving and cabling, etc.)
d) Project timeline with critical dates outlined
e) And options for office relocation identified by the commercial office broker
2. A strategic market analysis of the commercial real estate market in Downtown Denver
a) The identification of available office building(s)
b) Assist client in determining appropriate shortlist of candidate buildings
c) Coordinate and participate in space planning meetings
d) Obtain rough order of magnitude construction pricing from minimally three (3) reputable contractors for each option that is space planned
e) Advice regarding building and property rental valuation, including suitability for leasing
f) Outline of the necessary investments and timeline needed for its recommendations
g) Conduct due diligence investigation of each potential site’s specific suitability for DURA’s requirements as well as ownership financial strength
h) Demonstrated understanding of effects of local laws and building codes
i) Prepare presentations comparing alternatives to client
3. Translating analysis into actionable plans and support to realize DURA’s relocation needs.
a) Project plan for the relocation of the current DURA office into new turn-key offices, offices that require investment and renovations, or other outcomes based on analysis.
b) Prepare and negotiate request for proposals, proposals, and letter(s) of intent, as well as review and provide comments to landlord lease and/or building agreements for existing and future locations
c) Prepare and present financial analysis showing all anticipated costs to DURA for each round of proposals, counterproposals, and letter(s) of intent
d) Coordinate execution of all transaction documents, evidence of insurance, Non- Disturbance Agreements, etc.
e) Progress updates and maintain timely telephone and e-mail contact with assigned staff when there are active interests and transactions. A minimum bi-weekly telephone update is preferred.