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Rhode Island Health and Educational Building Corporation·Rhode Island

RFP for Corporate Office Space

Closes 4/21/2026$750k – $1.5MRequest for Proposal
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Description

Rhode Island Health and Educational Building Corporation (RIHEBC) is soliciting proposals from qualified entities to lease or sub‑lease 5,000‑7,000 sq ft of corporate office space in Cranston or Warwick, RI. The space must include private offices, two conference rooms, break room, technology infrastructure, storage, utility room, and both staff and board‑meeting parking. Proposals must detail rent, lease terms, tenant‑improvement allowances, furnishings, signage options, and any rent concessions. Site visits are scheduled for late April, and the award is expected mid‑May.

Attached files

The solicitation documents live at the source — open the bid source above to download them.

Contact

Dylan Zelazo(Executive Director)

[email protected]

(401) 831-3770

Key dates

Opened
4/3/2026
Questions due
4/10/2026
Site visit
4/27/2026
Closes
4/21/2026
Projected award
5/1/2026

Last updated

Details

Type
Request for Proposal
Industry
Real Estate
NAICS
531120
Solicitation №
OFFICE2026

Budget estimate

$750,000 – $1,500,000

The revenue is derived from the annual rent paid by the lessee. Assuming market office rates in the Cranston/Warwick area of $30‑$40 per square foot per year, a 5,000‑7,000 sq ft space would generate roughly $150,000‑$280,000 annually. If a typical lease term of 5‑7 years is negotiated, total contract revenue could range from $750,000 to $2,000,000. Adjustments for tenant‑improvement allowances, rent‑free periods, or higher‑end finishes could push the high end higher, while a shorter lease or lower rent would bring the low end down.

AI estimate from the solicitation

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