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Awarded contract·Covered California·California

RFP 2021-19 Real Estate Broker Services

Won by CBRE, Inc.$1MAwarded 3/28/2022Single Award
Contract source

Awarded vendors

  • CBRE, Inc.

Description

Covered California issued a competitive solicitation (RFP 2021‑19) to secure on‑call commercial real‑estate broker services for office space acquisition in Sacramento and Fresno. The award was intended for a single vendor; the Notice of Intent to Award names CBRE, Inc. as the prospective contractor. The contract term runs from early May 2022 through late June 2024 with a possible one‑year extension, and the maximum ceiling is $1 million. The work includes identifying, evaluating, and securing office locations, providing consulting support throughout transactions, and responding to ad‑hoc issues as they arise, all under a firm‑fixed‑price arrangement with no overtime or travel reimbursements. • Scope: On‑call broker and consultant for commercial office space purchases/leases in Sacramento and Fresno. • Budget ceiling: $1,000,000 (no advance payments; payment upon acceptance of deliverables). • Award: CBRE, Inc., with contract start 2 May 2022, end 30 Jun 2024, optional 1‑year extension.

Attached files

Key dates

Bids closed
3/16/2022
Intent to award
3/28/2022
Awarded
3/28/2022
Starts
5/2/2022
Ends
6/30/2024Renews
Duration
2 years

Last updated

Details

Award type
Single Award
Procurement
Full and Open Competition
Industry
Real Estate
NAICS
531210
Solicitation №
RFP 2021-19

Contract value

$1,000,000

The solicitation caps the total contract value at $1,000,000 and explicitly states that any proposal exceeding this amount will be rejected. Since the award is to a large, established broker (CBRE, Inc.) and the scope covers up to two real‑estate projects, the actual awarded amount is likely to be close to the ceiling but may be lower depending on the number and size of projects. A reasonable ball‑park estimate is therefore $850,000–$1,000,000; using the upper bound for safety, the contract is estimated at $1,000,000.

AI estimate from the award documents

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