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  5. ›Property Leasing Services for the Intermodal Facility

Awarded contract·City of Spokane·Washington

Property Leasing Services for the Intermodal Facility

Won by Goodale & Barbieri Company$100kAwarded 4/24/2024Single Award
Contract source

Awarded vendors

  • Goodale & Barbieri Company

Description

The City of Spokane issued an RFP to secure a professional firm to manage all leasing activities for its Intermodal Facility—a 30,000‑sq‑ft historic building that houses Amtrak, Greyhound, and retail tenants. The selected vendor will provide 24/7 tenant support, lease administration, brokerage for new and renewal leases, compliance monitoring, and full accounting/reporting services. The contract is for three years with the possibility of two one‑year extensions, and compensation is based on percentage brokerage fees plus reimbursable expense categories. • Scope includes tenant relations, lease execution, rent collection, and monthly financial reporting. • Vendor must be Washington‑state licensed and have at least five years of commercial property‑leasing experience. • Compensation is fee‑based (percentage of lease value) plus reimbursable costs; no fixed dollar ceiling is disclosed.

Attached files

Key dates

Bids closed
6/12/2023
Intent to award
4/24/2024
Awarded
4/24/2024
Starts
8/1/2023
Ends
8/1/2026Renews
Duration
3 years

Last updated

Details

Award type
Single Award
Procurement
Full and Open Competition
Industry
Real Estate
NAICS
531190
Solicitation №
RFP 5917-23

Contract value

$100,000

No monetary amount is disclosed in the solicitation. Estimating based on a 30,000 sq ft intermodal building, assumed average market rent of $20‑$25 per sq ft per year yields annual gross rent of roughly $600,000‑$750,000. Typical commercial lease‑management fees range from 3‑5% of gross rent, plus a modest brokerage fee for new leases (often 2‑3% of lease value) and reimbursable costs. Assuming a 4% management fee (~$24,000‑$30,000 per year) and minimal brokerage activity, the annual cost to the City would be roughly $30,000‑$35,000. Over the base three‑year term, this suggests a contract value in the vicinity of $90,000‑$105,000. Therefore a reasonable ball‑park estimate is about $100,000 total.

AI estimate from the award documents

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