DATE: 07/01/2026
TO: Honorable Mayor and City Council Members
FROM: Economic Development Department
2026-239
REQUEST FOR CITY COUNCIL ACTION
SUBJECT:
PROFESSIONAL SERVICES AGREEMENT FOR PROPERTY MANAGEMENT SERVICES AT THE HUB.
EXECUTIVE SUMMARY:
This staff report asks that the City Council approve a Professional Services Agreement with G&E Real Estate Management Services, Inc., dba Newmark, for Property Management Services at The Hub. The selected firm will provide comprehensive property management services to support the stabilization, operational efficiency, and long-term performance of this key City-owned economic development asset.
RECOMMENDED ACTION:
That the City Council:
a. Approve the Professional Services Agreement with G&E Real Estate Management Services, Inc., dba Newmark, for property management services for a term of five (5) years in the amount of $512,028, and waive any and all minor irregularities in the proposal.
b. Award Request for Proposals No. 26-017AS for The Hub Property Management Services to G&E Real Estate Management Services, Inc., dba Newmark, 18400 Von Karman Avenue, Suite 150, Irvine, CA 92612, in the amount of $512,028, and waive any and all minor irregularities in the proposal. c. Authorize the City Manager, or designee, to execute the Professional Services Agreement with G&E Real Estate Management Services, Inc., dba Newmark, in the amount of $512,028, including any non-substantive extensions, change orders, purchase orders, and amendments up to 10% of the contract amount ($51,202). d. Authorize the City Manager, or designee, to issue purchase orders annually to G&E Real Estate Management Services, Inc., dba Newmark, in the annual amounts outlined within the Professional Services Agreement. e. Authorize an appropriation in the amount of $96,000 in the Economic Development Department’s Operating Budget and an estimated revenue increase in the amount of $1,281,546 in the Corona Mall Property Fund (FD_1130) for FY 2027.
BACKGROUND & HISTORY:
The Hub (formerly known as South Mall) is a City-owned property in Downtown Corona that serves as a multi-tenant destination for retail, dining, and entertainment. The property includes indoor tenant spaces and a shared outdoor communal area, designed to support events and community gatherings.
On December 24, 2024, the City of Corona acquired The Hub (formerly South Mall) as part of its strategic downtown revitalization efforts, with the goal of activating the property, supporting local businesses, and enhancing the downtown experience.
ANALYSIS:
To ensure the effective operation and long-term success of The Hub, the City initiated a competitive procurement process to secure qualified property management services. The selected firm will be responsible for comprehensive property management functions, including lease administration, tenant relations, rent collection, maintenance coordination, vendor oversight, and financial reporting.
Request for Proposals (RFP) No. 26-017AS for Property Management Services for The Hub (South Mall) was advertised on December 23, 2025, pursuant to CMC Section
3.08.110 Non-public projects formal bidding procedure, and posted on the City’s bidding portal, PlanetBids. To encourage a more competitive solicitation process, and due to lower-than-anticipated interest, the City issued Addendum No. 2 on January 26, 2026, followed by Addendum No. 3 on February 10, 2026, which reopened and extended the Request for Information (RFI) deadline to February 17, 2026, and extended the proposal submission deadline to March 2, 2026. On March 2, 2026, seven (7) proposals were received through the PlanetBids.
In total:
249 vendors received notification of the RFP through PlanetBids; and 10 vendors viewed the RFP in PlanetBids.
The following is a summary of the proposal’s evaluation results:
Firm Name Location Total Points
(Maximum
out of 100)
Rank
G&E Real Estate Management Services,
Inc. dba Newmark
Irvine, CA 86 1
CBRE, Inc. Los Angeles,
CA
83 2
MAB Realty, Inc. Corona, CA 79 3
Ground Review, LLC Irvine, CA 76 4
Welcome Home Property Management
L.A., Inc.
Los Angeles,
CA
63 5
Frontline Facility Solutions LLC Lakeside, CA 56 6
A New Start: Financial & Social Services
Inc.
Davie, FL 52 7
Proposals were evaluated by a panel of three City staff members based on the following criteria:
Completeness of the response (pass or fail);
Qualifications of the firm (30 points);
Qualifications of personnel (25 points);
Work plan/Project understanding and approach (30 points); and Value (15 points).
Following evaluation and scoring, G&E Real Estate Management Services, Inc., dba Newmark, received the highest overall score and was determined to provide the best overall value to the City. Compared to other proposals, Newmark demonstrated superior qualifications, extensive experience managing similar multi-tenant commercial assets, and a comprehensive approach to property operations, financial reporting, and tenant relations. While several firms submitted competitive proposals, Newmark’s combination of cost structure, depth of resources, and demonstrated performance history positioned it as the most advantageous firm to work with the City.
Staff recommend that the top firm, G&E Real Estate Management Services, Inc., dba Newmark, be retained to perform Property Management Services for The Hub.
FINANCIAL IMPACT:
Approval of the recommended actions will result in an estimated revenue increase in the amount of $1,281,546 in the Corona Mall Property Fund (FD_1130) for FY 2027, assuming a phased lease-up period, as full occupancy of City-owned space is not expected to occur immediately. Revenue projections for future years will be evaluated and incorporated, as appropriate, through the annual budget process. In addition, approval of the recommended actions will result in an appropriation in the amount of $96,000 in the Economic Development Department’s Operating Budget within the Corona Mall Property Fund (FD_1130), for the first year of the five-year agreement. Future funding will be recommended through the annual budget process.
The proposed five-year agreement has a minimum of $512,028 based on Newmark’s guaranteed base management fees and staffing reimbursements. Actual compensation may vary based on a percentage of gross revenues generated at the property; however, the minimum amount provides a conservative and predictable cost basis for budgeting purposes.
The selected firm’s competitive fee structure, combined with its ability to enhance operational efficiency and tenant performance, is anticipated to maximize the financial performance of this City-owned asset over the term of the agreement.
ENVIRONMENTAL ANALYSIS:
This action is categorically exempt pursuant to Section 15061(b)(3) of the Guidelines for the California Environmental Quality Act (CEQA), which state that project is exempt from CEQA if the activity is covered by the common sense exemption that CEQA applies only to projects that have the potential for causing a significant effect on the environment.
Where it can be seen with certainty that there is no possibility that the activity in question may have a significant effect on the environment, the activity is not subject to CEQA. This action is to approve a Professional Services Agreement with G&E Real Estate Management Services, Inc., dba Newmark, and there is no possibility that approval of the recommended actions will have a significant effect on the environment. Therefore, no environmental analysis is required.
PREPARED BY: JOEL BELDING, ECONOMIC DEVELOPMENT DIRECTOR REVIEWED BY: JUSTIN TUCKER, ASSISTANT CITY MANAGER
ATTACHMENTS:
1. Professional Services Agreement with Newmark