Commercial Real Estate Broker Services

This state contracting opportunity is for Commercial Real Estate Broker Services issued by the Teacher Retirement System of Texas (TRS). TRS is seeking a broker to assist in locating and leasing multiple commercial office spaces for regional TRS office locations throughout Texas, with the first location in the South Texas region. The awarded contractor will be required to provide a range of services including market research, site identification, negotiations, and lease preparation. Proposals are due by June 5, 2024 at 3:00 PM Central Time, and TRS may conduct presentations or interviews with top-ranked respondents. The initial contract term is for 5 years, with options to renew as TRS opens additional regional offices.

The solicitation has a 25% Historically Underutilized Business (HUB) subcontracting goal, and all respondents must submit a HUB Subcontracting Plan regardless of whether they plan to subcontract or are HUB vendors themselves. TRS will evaluate proposals based on the qualifications and past performance of the respondent's key personnel, the technical approach, and the proposed fee schedule, which must be in a standard real estate industry format such as a percentage of the net lease. The solicitation does not appear to include any set-asides, incumbent vendors, or budget ranges.