DATE: July 17, 2018
SUBJECT:
Title
RESOLUTION SELECTING AND AUTHORIZING AN AGREEMENT WITH RI PROPERTIES, INC., DBA RETAIL INSITE FOR COMMERCIAL REAL ESTATE BROKER SERVICES FOR THE SEAPORT VILLAGE SPECIALTY RETAIL CENTER FROM JULY 18, 2018 TO JUNE 30, 2021 IN AN AMOUNT NOT TO EXCEED $200,000, AND WAIVING BOARD OF PORT COMMISSIONERS POLICY NO. 114. ALL FUNDS REQUIRED FOR FUTURE FISCAL YEARS WILL BE BUDGETED IN THE APPROPRIATE FISCAL YEAR, SUBJECT TO BOARD APPROVAL UPON ADOPTION OF EACH FISCAL YEAR'S BUDGET
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EXECUTIVE SUMMARY:
At the January 9, 2018 San Diego Unified Port District (District) Board of Port Commissioners (Board) meeting, the Board directed staff to retain a commercial real estate broker to list and market any vacancies at Seaport Village Specialty Retail Center (Seaport Village), following the expiration of Terramar Retail Center, LLC's lease for Seaport Village on September 30, 2018.
On May 21, 2018, District staff issued a Request for Proposals (RFP 18-23ME: Commercial Real Estate Broker for Seaport Village Specialty Retail Center) (RFP) for the agreement to list and market retail space on the District's behalf for Seaport Village beginning July 18, 2018. Seaport Village consists of approximately 90,000 square feet of specialty retail, restaurants, outdoor entertainment, and parking on an approximately 14-acre bayfront site located at 849 West Harbor Drive in San Diego, CA (Site) (Attachment A).
The RFP was downloaded 30 times and, on June 18, 2018, the District received the seven proposals listed below, five of which were deemed complete and on time and as required by the RFP through Planetbids.
* RI Properties, Inc., dba Retail Insite (Retail Insite)
* Colliers International CA, Inc. (Colliers)
* SRS Real Estate Partners-SoCal, LP (SRS)
* Stream Realty Partners, LP (Stream)
* Voit Real Estate Services, LP (Voit)
* Provenzano, LLC (deemed incomplete)
* CBRE (received via email after deadline)
District staff from the Real Es...
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