Advancing the University
Proposed Agreement with CBRE Group for Real EstateAdvisement, Marketing and Brokerage Services Economic Development Department | February 15, 2022
Advancing the University
Plan for Progress
June 8, 2020 University Subcommittee authorized staff
to draft a Master Development Agreement ("MDA") with
HomeFed for City Council consideration
Progress continues to be made towards an MDA and
go-to-market strategy
Assistance of a professional real estate consulting firm to assist in negotiations and provide trusted
advisement and marketing services
Real Estate Advisement, Marketing & Recruitment Services Economic Development Department | February 15, 2022
Phase III
Plan for Progress
Term Sheet
Negotiation &
Completion
Phase I
February
CBRE will assist City in
negotiations with HomeFed on a
Term Sheet and potentially an
ENA
MDA Negotiation &
Completion
Phase II
November
CBRE will assist with negotiating
a final MDA
Marketing &
Recruitment Services
With Phase I & II
Market to recruit eligible
institutions and industry partners
Economic Development Department | February 15, 2022
Uniquely Qualified
Largest and most successful
commercial real estate services firm
in the world
Significant resources including their
PIES business group
Advised over 100 non-federal
agencies and universities on high-
profile, highly complex projects
150+ years of combined experience
Public Institutions & Education RealEstate Solutions
Economic Development Department | February 15, 2022
Tom Turner
Vice President
Advisory & Transaction Services
Michael McShea
Executive Vice President
Public Institutions & Education Solutions
Thank You!
Questions?
Economic Development Department | February 15, 2022
Action:
To Adopt a resolution waiving the consultant selection process, approving a two-party agreement (“Agreement”) between the City and CBRE Group, Inc. for real estate advisement, marketing and brokerage services for the University-Innovation District, appropriating funds for the advisement and marketing services portions of the agreement in the amount of $653,500 and authorizing the City Manager to execute Agreement, and the brokerage services implementing exclusive listing agreement, all in final forms approved by the City Attorney.