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Awarded contract·City of Edgewater·Florida

RFQ 19-GS-014 - Professional Real Estate Services - rebroadcast

Won by The Barnett Group, Inc. +2 more$1.5MAwarded 10/7/2019Multiple Award
Contract source

Awarded vendors

  • The Barnett Group, Inc.
  • Redevelopment Management Associates
  • Higgenbotham Auctioneers International, Ltd., Inc.

Description

This contract awards professional real‑estate broker services to three qualified firms for the City of Edgewater, Florida. The broker(s) will negotiate purchases, sales, leases, and related transactions for City‑owned parcels; prepare and obtain required documentation; advise City staff; attend closings and public hearings; and provide any additional real‑property services the City may request via task orders. The agreement is a three‑year initial term with the possibility of three one‑year extensions, and compensation is based on a fee schedule (commission rates, leasing fees, etc.) proposed by each vendor. • Scope includes acquisition, disposition, leasing, title work coordination, appraisal assistance, and advisory services for municipal real‑estate assets. • Evaluation emphasized local market knowledge, proximity to Edgewater, completeness of the qualification package, and the proposed fee schedule. • All three firms were recommended and authorized for award on October 7 2019; the City may allocate specific projects among them.

Attached files

Key dates

Bids closed
9/6/2019
Intent to award
10/7/2019
Awarded
10/7/2019
Contract modified
8/28/2019
Starts
10/7/2019
Ends
10/7/2022Renews
Duration
3 years

Last updated

Details

Award type
Multiple Award
Procurement
Full and Open Competition
Industry
Real Estate
NAICS
531210
Solicitation №
RFQ 19‑GS‑014

Contract value

$1,500,000

No dollar amount is disclosed in any of the documents. Municipal broker services are typically compensated via commissions (e.g., 2‑5 % of purchase price) plus modest fees for lease work and consulting. Assuming Edgewater will engage the broker for roughly 3‑5 property transactions per year with an average transaction value of $3 million, a 3 % commission yields about $90,000 per transaction, or $270,000‑$450,000 annually. Adding lease and consulting fees (~$50,000 per year) brings the annual spend to roughly $320,000‑$500,000. Over the three‑year base term this suggests a contract value in the range of $1.0‑$1.5 million. A midpoint estimate of $1.5 million is reasonable for budgeting and comparison purposes.

AI estimate from the award documents

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