4IN0191 OFOC - Redacted.pdf
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- Solicitation number
- 4IN0191
About this file
This document is a Justification for Other than Full and Open Competition for federal contract 4IN0191. The justification is for a lease renewal at the current location, as moving the agency would be cost prohibitive and disruptive. Market research was conducted, showing the anticipated renewal rate of $ per RSF is within the market range of $ to $ per RSF for similar properties in the area. The current lease rate is $ per RSF. Tenant improvement costs were also considered, which would bring the estimated rate at an alternate location to $ per RSF. Given this information, the anticipated cost for the renewal is determined to be fair and reasonable. An ad was posted on SAM.gov to solicit offers, but no responses were received. The long-term procurement during the renewal term will consider all buildings in the yet to be determined delineated area.
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5. DESCRIPTION OF EFFORTS MADE TO ENSURE THAT OFFERS ARE SOLICITED FROM
AS MANY POTENTIAL SOURCES AS IS PRACTICABLE.
After discussion with the GSA Property Management office, it was confirmed that the location is acceptable to meet the housing needs of the agency for the renewal period. An ad was also posted on SAM.gov to solicit offers from interested parties other than the incumbent and no responses were received. With that additional information it has been determined that inserting the renewal is in the best interest of the government. The long-term procurement to be conducted during the term of this renewal will consider all buildings that fall within the yet to be determined delineated area.
6. DEMONSTRATION BY THE CONTRACTING OFFICE THAT THE ANTICIPATED COST TO
THE GOVERNMENT WILL BE FAIR AND REASONABLE.
The current rate for this location is $ The anticipated rate for the renewal in the current location is $ per RSF. CoStar market research provided only three similar properties in the delineated area, showing rates between $ - $ per RSF, both of which were triple net.
A typical triple net lease is one in which the tenant is responsible for all of the property’s operating expenses, therefore tax and operating rates were added to generate fully service rates. The fully serviced market range is estimated to be between $ and $ per RSF.
This CoStar market range doesn’t factor in tenant improvement (TI) or move costs. TI was added in the chart below for comparison, the cost of which would bring the estimated rate at an alternate location to $ per RSF.
The anticipated rate is $ Based on this information, the anticipated cost for this renewal period falls within market range and well below the cost to move to an alternative location, and therefore should be found to be fair and reasonable.
Current Location Alternate Location
Shell Rent $ $
Operation Rent* (*as currently escalated)
Tenant Improvements $ $
Total Annual Rent $ $
7. DESCRIPTION OF MARKET RESEARCH CONDUCTED AND THE RESULTS.
A formal market survey was not conducted for this lease renewal as moving the agency for the term of this renewal would be cost prohibitive and disruptive to the agency but will be conducted
File details come from the government source that posted it. Updated .