1.0 Introduction 1.1 Purpose This is an Request for Information (RFI) for a tentative requirement to provide market data, leasing data and comparable sale data (hereafter referred to as market data) which will allow the General Services Administration (GSA) to better determine the appropriate strategy for an asset based on its competitive position in the market as further defined in the attached Draft Statement of Work. As part of its market research, GSA is issuing this RFI to determine if there exists an adequate number of qualified interested GSA Schedule contractors capable of providing market data, leasing data and comparable sale data which will allow GSA to better determine the appropriate strategy for an asset based on its competitive position in the market and which can be used to cross-check appraisals to confirm that the projected rental rates and sales prices are comparable to recent market transactions and will also aid GSA in monitoring how well it is operating its owned buildings as further described in the Draft SOW. The Government may use the responses to this RFI for information and planning purposes. The Draft SOW describes only the currently contemplated possible scope of services and may vary from the work scope in a final SOW included in any Request for Proposals (RFP). The anticipated period of performance is a base year with four (4) one year options. The Contractor may be required to perform work at the Contractor's site and work will be accessed via the internet. This RFI is only for the purpose of identifying potential sources as part of GSA's market research. No RFP exists; therefore, do not request a copy of the RFP. Responses to this RFI are not proposals on which GSA can issue any orders. This RFI is issued for information and planning purposes only and does not itself constitute a Request for Proposal (RFP). The Government does not intend to award a Contract based only on responses to this RFI. All information received in response to this RFI marked "Proprietary" will be protected and handled accordingly. Interested parties are responsible for adequately marking proprietary or competition sensitive information contained in their response. Responses to the RFI will not be returned. Responders are solely responsible for all expenses associated with responding to this RFI. GSA will not pay for information received in response to this RFI. There is no commitment by the Government to issue an RFP, make an award or awards, or to be responsible for any monies expended by industry responses to this RFI. 1.2 Objective The information provided by this RFI is a valuable commercial real estate resource for various divisions and regions at GSA/PBS: • Office of Portfolio Management and Customer Engagement: The market data, leasing data and comparable sale data (hereafter referred to as market data) allows PBS to better determine the appropriate strategy for an asset based on its competitive position in the market. The information is used to cross-check appraisals to confirm the projected rental rates and sales prices are comparable to recent market transactions. It will also aid in monitoring how well PBS is operating its owned buildings. • Office of Property Disposal: The market data helps PBS validate independent appraiser valuations to ensure that GSA receives a fair price for properties that are selected for disposal. • Capital Investment Division: Provides knowledge of the local real estate markets to aid in ensuring that any new construction, major R&A or modernization projects will be cost effective. • Leasing and Analysis Divisions: Provides information of the rents and expenses in comparable buildings in local markets to ensure that the rents GSA charges to customer agencies, whether in leased or owned buildings, are consistent with the market. 1.3 Background GSA requires national comparable real estate market and property information to validate appraisal information it obtains from private sector appraisers. Market specific data includes inventories of space availability, new construction, changing trends in vacancy rates, and absorption and growth rates. Building specific information provided includes building characteristics and maintenance history, leasing history, and listings of specific building rentals and sales. Confirmed transactions, including sales prices, financing data, cap rates, and buyer and seller contact information are also tracked and continually updated. Graphic products provided consist of high-resolution digital images, including maps, floor plans, 360-degree visuals, interior and exterior photographs, and aerial photographs. Other benefits of this contract include: • The database provides market data on most of the markets in which major PBS assets are located. • Web based database gives PBS a quick way to determine comparable sales values for PBS-managed buildings. • Current provider is the market database product of choice among national real estate firms. GSA has not been able to locate another company that can provide the amount and depth of real estate market information. • GSA uses the data to confirm the Fair Annual Rental rates that it obtains by independent appraisal. GSA also uses the real estate information to evaluate current market conditions, and project rental rates two years in advance for agency budget purposes. • Web based database provides recent lease and sales data, and GSA uses the information to underwrite its building valuations, projected agency rents, and market rents for scoring proposed prospectus projects. The data service is an essential market source for commercial building owners, lenders, brokers, developers, property managers, and appraisers. The data base also provides up to date contact information for GSA to confirm the accuracy of the information in its reports. 2.0 Scope of Work GSA-PBS's Office of Portfolio Management and Customer Engagement and National Office of Leasing along with the regional counterparts are in need of internet-based computer accessible real property informational services. The Contractor shall provide a continuously updated data base of real estate market data/information to include: • a comprehensive market/submarket/building inventory, trends, and analytics, market and building size, and a variety of other data fields; • mapping and aerial photographs of buildings and comparable data; • building specific data including floor plate information, building photographs, and tenant floor-by-floor information; • Historic trend analytics including rent, vacancy and absorption. GSA-PBS requires a broad geographic and demographic informational base; • submarket statistics and boundary maps; a variety of interactive custom and demographic reports as well as quarterly major market overview reports of building vacancy and absorption by market and submarket; confirmed comparable sales transaction, comparable rental rates and lease expirations sort able by property type, property class, geographic location, dates of sale; • on-site system training, telephone and computer-based technical support with 24 hour 7 days a week access; • the ability for the Contractor to provide research on specific real property to include current and historical building specific rent rates, vacancy and major improvements; • the information be available nationally for the national offices and market specific within the GSA-PBS regions; • And all information directly accessible by GSA-PBS's employee or its Contractors. All GSA-PBS users are to have National Access -- GSA Central Office and Regional users require full access to the information described above for the full geographic markets available in the United States and its territories. 3.0 Specific Requirements or Tasks The Contractor shall provide a license and web access to each GSA user for its exclusive products and individual property data in all major metropolitan markets in the US, provide market and sub-market reports, comparable sales, lease offerings and transactions, and the ability to perform ad-hoc research on individual properties, sub-markets, markets, regions and nationally. Licenses: The individual licenses for the Authorized Users may be transferred to other designated employees or Contractors of GSA during the contract term, as needed. Condition: Contractor shall provide extensive training in the use of its service at no additional expense to GSA (including off-site trainings/workshops) to both Central Office and regional office staff for the life of the contract. 4.0 Deliverables The Contractor shall provide continuously updated commercial property information (e.g., rental rates, sales data, transactional data, property location, operating expenses, rent projections, vacancy rates, etc.) for major markets across the country. The information will be provided on the internet to a list of designated GSA employees who obtain access to the database/service through this contract. Delivery will be tracked on an ongoing basis by the COR using his own access, as well as soliciting selected users in each region to verify the website is active and functioning correctly. When providing responses to the RFI, Contractors should be able to provide answers to the following questions as they relate to the SOW: Do you currently have the capability, data and infrastructure to provide a state-of-the-art web based product that supply at least 5 years of researched and verified commercial real estate information (including lease offerings, lease transactions, sales transactions, and detailed descriptions) on individual properties in at least 135 specific major real estate markets throughout the entire USA? Does your market specific data (market and submarket descriptions and quarterly reports) include inventories of space availability, new construction, changing trends in vacancy rates, and absorption and growth rates for at least the last five years? Does your building specific information include building characteristics and maintenance history, transaction information, including tenant specifics, size and floor, build-out allowances, etc., leasing history, income and expenses for the specific building rentals and sales? Do your confirmed sale transactions, include sales prices, financing data, cap rates, and buyer and seller contact information that is also tracked and continually updated? Do your graphic products consist of high-resolution digital images, including maps, floor plans, 360-degree visuals, interior and exterior photographs, and aerial photographs? Does your reporting capabilities include comprehensive report formats, format flexibility, and downloads to PDF, Excel or Word? Do not submit pricing information in response to this RFI. Submit RFI responses to: Tyrone Dallas
[email protected] Tel 202-578-2205