Commercial Broker Services in Washington, D.C.

Background
The University of Texas System, a large public university system in the United States with a mission focused on education, research, and healthcare, is seeking proposals for Commercial Broker Services in Washington, D.C. The UT System currently operates the Archer Center in leased office space and aims to expand its presence in Washington, D.C. The contract will support the leasing and purchasing of office space as well as related real estate services.

Work Details
The selected broker will provide comprehensive commercial brokerage services including:

1. Representation for leasing or purchasing office space in Washington, D.C., Maryland, and Virginia.
2. Market analysis including tenant improvement allowances, concessions, comparable rents, and sales.
3. Periodic reporting on market conditions and property options every two months.
4. Analytical services to compare long-term costs of different sites.
5. Coordination with legal counsel and real estate officers during transactions.
6. Assistance with negotiations for accepted proposals.
7. Additional contingent services as requested by the University.

Period of Performance
The initial term of the agreement is anticipated to be two years with an option to renew for up to three additional years.

Place of Performance
Services will primarily be performed in Washington, D.C., with potential transactions also occurring in Maryland and Virginia.

Bidder Requirements
Proposers must have at least three years of experience as commercial brokers representing tenants and buyers in the Washington, D.C. area. Proposals must include a HUB Subcontracting Plan (HSP) demonstrating good faith efforts to utilize Historically Underutilized Businesses (HUBs) certified by the Texas Comptroller's office.