RFI - National Commercial Real Estate Market Data.pdf

REQUEST FOR INFORMATION (RFI)

National Commercial Real Estate Market Data

US General Services Administration (GSA) Public Building Services Office of Leasing Center for Lease Applications and Analysis

May 21, 2024

This is a Request for Information (RFI) only. This is not a solicitation or a request for proposal and no contract will be awarded from this notice. No solicitation or final specifications are available at this time.

Request for Information Objective The General Services Administration (GSA), Public Buildings Service (PBS), Office of Leasing is issuing this RFI to obtain responses from all interested and qualified vendors that can successfully provide the services described herein. The information provided in this RFI is subject to change and is not binding on the government.

The Government intends to utilize the information from this RFI to identify companies that can meet the Government’s requirements below, provide input on acquisition strategy, including proposed contract type, and acquisition planning schedule; the feasibility of the requirement, the contemplated NAICS code; the contemplated Federal Supply Schedule category (if applicable);

and any other industry concerns or questions.

The Government invites Respondents to submit ideas that could assist it in attaining its objectives. The Government will not reimburse Respondents for any expenses associated with responding to this RFI, though the Government sincerely appreciates Respondents' efforts and input.

Project Objective and Background

1.1. Purpose

The PBS Office of Leasing requires comprehensive real estate market data to use in the Lease Cost Relative to Market (LCRM) performance measure, Bullseye research and reporting for regions, and to calculate the savings on PBS’s Lease Optimization measure (LO). We are looking for national real estate data that provides assessments and forecasts of real market conditions for over 190 major metropolitan statistical areas, secondary markets, tertiary markets, and 1,800 submarkets nationwide. Historical and ongoing quarterly data, with up to 30 data fields including Historical Trends and Forecasts, Rents, Lessor free rent concessions, and Lessor TI concessions.

1.2. Objective

The objective of this acquisition is to procure the above services for a base year of twelve (12) months, to include four (4) twelve month option years for a total of five (5) years.

Procurement of the data is necessary to:

▪ Demonstrate to OMB, Congress and our external stakeholders that PBS secures leases at rates favorable to the government.

▪ Support the Bullseye market research tool for Central Office and the Regions

The real estate data services will:

▪ Provide office market data, building operations and tenant improvement information required to support performance measures for lease cost to market and building operations.

▪ Provide market operating expense data.

▪ Provide Historical Trends and Forecasts

▪ Provide shape files that describe market boundaries

▪ Provide quarterly market data reports

1.3. Background

PBS’s Office of Leasing has historically procured commercial real estate market data to assist in lease negotiations and in making informed decisions for the government. A current contract expires in 2024 and PBS is looking to procure comparable services / data to fulfill an ongoing, mission-critical need. This acquisition is necessary for market research products that are used in the LCRM and Bullseye market research and reporting for the office of PBS Leasing. In the past, PBS Leasing has used a mixture of market research, historical reporting and forecasting products to compare GSA leasing practices with general market costs. The subscription data is integral to the Bullseye reporting system that guides regions in their lease procurements. The data is required to augment LCRM performance reporting to OMB and Congress and to demonstrate to OMB, Congress and our external stakeholders that PBS secures leases at rates favorable to the government.

RFI Response Requirements All Interested parties shall submit the following minimum information:

● Name of company

● SAM Unique Entity ID (UEI)

● POC, Telephone Number(s), Address, and e-mail address

● Supporting narrative as applicable this RFI (10 pages maximum)

○ Features (Preferred) – Specific

○ Generic Cost Estimate

○ Additional Questions

Interested companies should submit their supporting narratives through email by 12:30pm Eastern Time, Thursday, May 30,2024. Please send your response to Collette Scott, Contracting Officer.

Features (Preferred) – Specific

PBS is looking for a service that can provide the information below:

▪ Office market and submarket rental rates for a wide range of markets across the

United States and its territories.

▪ Detailed tenant improvement concessions information and leasing commissions at the submarket level for office space broken out for both new leases and renewing leases.

▪ Detailed operating costs and rent concessions at the submarket level

▪ Raw data files that can be provided on a recurring (at least quarterly) basis at the sub-market level for office space with all rental, tenant improvement, and market concessions information

▪ Geographical “shape files” for mapping the individual office submarkets that are covered

1.4. The contractor shall provide full office market data to include but not be limited to the following:

▪ Office sector markets

▪ Secondary markets

▪ Tertiary markets

1.5. The contractor shall provide quarterly data files outlining specific concession and submarket fundamentals

1.5.1. These quarterly reports shall be transmitted to the GSA, COR via electronic spreadsheet by email or as otherwise determined by the COR

1.5.2. The contractor shall ensure that the quarterly report is transmitted to the GSA COR as follows:

First Quarter April 25th

Second Quarter July 25th

Third Quarter October 25th

Fourth Quarter January 25th

1.6. The contractor shall provide Submarket Mapping “Shape” File as necessary as their shape file is updated.

Generic Cost Estimate

1. Provide an estimated/anticipated cost to configure and implement the technical solution based on GSA’s requirements.

a. Please provide costs for years 1 through 5.

Additional Questions

1. What is your firm’s socioeconomic status?

2. Does your firm have a GSA Schedule contract, if so, what is your schedule contract number and category?