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  5. ›Vertical Real Estate Management Pursuant WV Code 31G-5

West Virginia Department of Administration, Purchasing Division·West Virginia

Vertical Real Estate Management Pursuant WV Code 31G-5

Closes 5/27/2025$500k – $2MRequest for Proposal
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Description

The West Virginia Department of Administration, Purchasing Division is seeking a partner to provide management of the State of West Virginia's vertical real estate assets. The selected partner will be responsible for managing the state's portfolio of real estate assets, including towers, buildings, and other structures. The partner will be required to provide a range of services, including property management, leasing, and marketing. The partner will also be responsible for ensuring compliance with all applicable laws and regulations. The contract will be for a term of three years, with the option to renew for two additional one-year periods. • Management of vertical real estate assets • Property management • Leasing and marketing • Compliance with laws and regulations • Other related services

Attached files

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

Contact

Larry D. McDonnell(Purchasing Agent)

[email protected]

(304) 558-2063

Key dates

Opened
5/16/2025
Questions due
3/18/2025
Closes
5/27/2025
Duration
3 years

Last updated

Details

Type
Request for Proposal
Industry
Real Estate
NAICS
531311
Solicitation №
CRFP-0231-OOT2500000001-9

Budget estimate

$500,000 – $2,000,000

Based on the information provided in the RFP, it is difficult to estimate the exact budget for this contract. However, considering the scope of work and the fact that the state is seeking a partner to manage its vertical real estate assets, it is likely that the budget will be substantial. The state is looking for a partner to manage its portfolio of real estate assets, which includes towers, buildings, and other structures. The partner will be responsible for providing a range of services, including property management, leasing, and marketing. The contract will be for a term of three years, with the option to renew for two additional one-year periods. The budget will likely be based on a revenue-sharing model, where the partner will receive a percentage of the revenue generated from the management of the state's real estate assets. Given the complexity of the project and the scope of work, a reasonable estimate for the budget could be between $500,000 and $2 million per year, depending on the specific services provided and the revenue generated.

AI estimate from the solicitation

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