4.2.
Economic Development Authority (EDA)
- Meeting Date:
- 01/12/2023
- By:
- Sean Sullivan, Community Development
Title:
Consider Extension of CBRE Real Estate Listing Agreement for City Owned Land in COR
Purpose/Background:
The purpose of this case is to consider extending the listing agreement with CBRE for some of the City owned land held for resale. The City currently lists some of its own property utilizing Costar/Loopnet and MNCAR through the Anoka County access. City Staff has been satisfied with the work of Brian Pankratz with CBRE on the current listings and we communicate frequently. The proposed listing agreement with CBRE would be from February 1, 2023 - January 31, 2024.
There are currently two active purchase agreements and an LOI on CBRE listed parcels. Two purchase agreements have been from city generated leads (Cor Trust Bank, Hotel) and the third was collaboration between CBRE and the City to garner interest and ultimately an LOI (convenience grocer). CBRE has been working with many interested parties for the development of portions of Parcel 46 but some of the leads have been staff generated as well. Development interest has slowed for Parcel 50a due to the pending construction of the interchange on Hwy 10 at Ramsey Boulevard. Java Properties asked to terminate their PA due to this project. Having a reputable company like CBRE helps broadcast our available sites to a large group of contacts as noted in the 2023 City of Ramsey Land Review provided by CBRE.
There are currently two active purchase agreements and an LOI on CBRE listed parcels. Two purchase agreements have been from city generated leads (Cor Trust Bank, Hotel) and the third was collaboration between CBRE and the City to garner interest and ultimately an LOI (convenience grocer). CBRE has been working with many interested parties for the development of portions of Parcel 46 but some of the leads have been staff generated as well. Development interest has slowed for Parcel 50a due to the pending construction of the interchange on Hwy 10 at Ramsey Boulevard. Java Properties asked to terminate their PA due to this project. Having a reputable company like CBRE helps broadcast our available sites to a large group of contacts as noted in the 2023 City of Ramsey Land Review provided by CBRE.
The purpose of this case is to review the City's strategy for real estate management for City Owned Parcels.
The EDA met in January 2019 and also discussed at a Joint Work Session with the City Council on February 26, 2019. The EDA then met again on April 11, 2019 to discuss the matter further. On April 11, 2019, the EDA recommended that Staff work with CBRE to revise the current contract. Key points of discussion included, but were not limited to the following.
A proposed contract with revised language is attached for review.
Additional Background
The City has been engaged in a contract with CBRE since January 28, 2014 to list and market City owned properties in the COR and other areas. The City and CBRE have executed multiple amendments to the contract with the latest being a one year contract from July 31, 2018-July 30, 2019. Staff has found CBRE agent Brian Pankratz to be available, engaged, knowledgeable and helpful when it comes to marketing city owned parcels. CBRE utilizes many proven marketing methods such as:
Having a company like CBRE market city properties to its broker community and clients has its advantages. CBRE has a good reputation within the broker community. The maintenance and updating of marketing materials by CBRE including, signage and MNCAR listings is convenient for Staff and access to current market data is helpful. Based on city records the City has closed on nine properties, with four more pending that CBRE has listed for the City since 2014. A closing is scheduled for May 3 for Parcel 6 (Muni Site).
Currently, the City has seventeen City owned properties listed with CBRE including seven under contract. Eleven of these properties are in the COR and the rest are scattered across the community.
In late 2018, Anoka County has added a regional economic development presence to Anoka County as presented to the EDA last year. The City of Ramsey is included in this partnership and has the opportunity to list its properties on MNCAR at a nominal cost. This is a feature is also provided by CBRE as part of its listing contract free of cost. Anoka County does not provide signage on site for marketing and does not have the reputation or experience of a CBRE in the broker community at this time. It is difficult to fully compare CBRE to the new Anoka County Regional Economic Development Partnership. CBRE is a proven industry leader, but there are some cost advantages of utilizing the MNCAR service that Anoka County can provide that reach the same audience in similar ways.
The EDA met in January 2019 and also discussed at a Joint Work Session with the City Council on February 26, 2019. The EDA then met again on April 11, 2019 to discuss the matter further. On April 11, 2019, the EDA recommended that Staff work with CBRE to revise the current contract. Key points of discussion included, but were not limited to the following.
- Removing parcels outside of the COR from the listing agreement
- Adding language that would reduce, or eliminate commission for leads that were not generated by CBRE (Clear-cut City leads, etc.)
A proposed contract with revised language is attached for review.
Additional Background
The City has been engaged in a contract with CBRE since January 28, 2014 to list and market City owned properties in the COR and other areas. The City and CBRE have executed multiple amendments to the contract with the latest being a one year contract from July 31, 2018-July 30, 2019. Staff has found CBRE agent Brian Pankratz to be available, engaged, knowledgeable and helpful when it comes to marketing city owned parcels. CBRE utilizes many proven marketing methods such as:
- Real Estate signs on site,
- Online listings such as MNCAR (internet) and
- Connection to the broker community.
Having a company like CBRE market city properties to its broker community and clients has its advantages. CBRE has a good reputation within the broker community. The maintenance and updating of marketing materials by CBRE including, signage and MNCAR listings is convenient for Staff and access to current market data is helpful. Based on city records the City has closed on nine properties, with four more pending that CBRE has listed for the City since 2014. A closing is scheduled for May 3 for Parcel 6 (Muni Site).
Currently, the City has seventeen City owned properties listed with CBRE including seven under contract. Eleven of these properties are in the COR and the rest are scattered across the community.
In late 2018, Anoka County has added a regional economic development presence to Anoka County as presented to the EDA last year. The City of Ramsey is included in this partnership and has the opportunity to list its properties on MNCAR at a nominal cost. This is a feature is also provided by CBRE as part of its listing contract free of cost. Anoka County does not provide signage on site for marketing and does not have the reputation or experience of a CBRE in the broker community at this time. It is difficult to fully compare CBRE to the new Anoka County Regional Economic Development Partnership. CBRE is a proven industry leader, but there are some cost advantages of utilizing the MNCAR service that Anoka County can provide that reach the same audience in similar ways.
The purpose of this case is to review the City's strategy for real estate management for City Owned Parcels.
The EDA met in January 2019 and also discussed at a Joint Work Session with the City Council on February 26, 2019. The EDA then met again on April 11, 2019 to discuss the matter further. On April 11, 2019, the EDA recommended that Staff work with CBRE to revise the current contract. Key points of discussion included, but were not limited to the following.
A proposed contract with revised language is attached for review.
Additional Background
The City has been engaged in a contract with CBRE since January 28, 2014 to list and market City owned properties in the COR and other areas. The City and CBRE have executed multiple amendments to the contract with the latest being a one year contract from July 31, 2018-July 30, 2019. Staff has found CBRE agent Brian Pankratz to be available, engaged, knowledgeable and helpful when it comes to marketing city owned parcels. CBRE utilizes many proven marketing methods such as:
Having a company like CBRE market city properties to its broker community and clients has its advantages. CBRE has a good reputation within the broker community. The maintenance and updating of marketing materials by CBRE including, signage and MNCAR listings is convenient for Staff and access to current market data is helpful. Based on city records the City has closed on nine properties, with four more pending that CBRE has listed for the City since 2014. A closing is scheduled for May 3 for Parcel 6 (Muni Site).
Currently, the City has seventeen City owned properties listed with CBRE including seven under contract. Eleven of these properties are in the COR and the rest are scattered across the community.
In late 2018, Anoka County has added a regional economic development presence to Anoka County as presented to the EDA last year. The City of Ramsey is included in this partnership and has the opportunity to list its properties on MNCAR at a nominal cost. This is a feature is also provided by CBRE as part of its listing contract free of cost. Anoka County does not provide signage on site for marketing and does not have the reputation or experience of a CBRE in the broker community at this time. It is difficult to fully compare CBRE to the new Anoka County Regional Economic Development Partnership. CBRE is a proven industry leader, but there are some cost advantages of utilizing the MNCAR service that Anoka County can provide that reach the same audience in similar ways.
The EDA met in January 2019 and also discussed at a Joint Work Session with the City Council on February 26, 2019. The EDA then met again on April 11, 2019 to discuss the matter further. On April 11, 2019, the EDA recommended that Staff work with CBRE to revise the current contract. Key points of discussion included, but were not limited to the following.
- Removing parcels outside of the COR from the listing agreement
- Adding language that would reduce, or eliminate commission for leads that were not generated by CBRE (Clear-cut City leads, etc.)
A proposed contract with revised language is attached for review.
Additional Background
The City has been engaged in a contract with CBRE since January 28, 2014 to list and market City owned properties in the COR and other areas. The City and CBRE have executed multiple amendments to the contract with the latest being a one year contract from July 31, 2018-July 30, 2019. Staff has found CBRE agent Brian Pankratz to be available, engaged, knowledgeable and helpful when it comes to marketing city owned parcels. CBRE utilizes many proven marketing methods such as:
- Real Estate Signagesignage on site,
- Online listings such as MNCAR (internet) and
- Connection to the broker community.
Having a company like CBRE market city properties to its broker community and clients has its advantages. CBRE has a good reputation within the broker community. The maintenance and updating of marketing materials by CBRE including, signage and MNCAR listings is convenient for Staff and access to current market data is helpful. Based on city records the City has closed on nine properties, with four more pending that CBRE has listed for the City since 2014. A closing is scheduled for May 3 for Parcel 6 (Muni Site).
Currently, the City has seventeen City owned properties listed with CBRE including seven under contract. Eleven of these properties are in the COR and the rest are scattered across the community.
In late 2018, Anoka County has added a regional economic development presence to Anoka County as presented to the EDA last year. The City of Ramsey is included in this partnership and has the opportunity to list its properties on MNCAR at a nominal cost. This is a feature is also provided by CBRE as part of its listing contract free of cost. Anoka County does not provide signage on site for marketing and does not have the reputation or experience of a CBRE in the broker community at this time. It is difficult to fully compare CBRE to the new Anoka County Regional Economic Development Partnership. CBRE is a proven industry leader, but there are some cost advantages of utilizing the MNCAR service that Anoka County can provide that reach the same audience in similar ways.
The purpose of this case is to review the City's strategy for real estate management for City Owned Parcels.
The EDA met in January 2019 and also discussed at a Joint Work Session with the City Council on February 26, 2019. The EDA then met again on April 11, 2019 to discuss the matter further. On April 11, 2019, the EDA recommended that Staff work with CBRE to revise the current contract. Key points of discussion included, but were not limited to the following.
A proposed contract with revised language is attached for review.
Additional Background
The City has been engaged in a contract with CBRE since January 28, 2014 to list and market City owned properties in the COR and other areas. The City and CBRE have executed multiple amendments to the contract with the latest being a one year contract from July 31, 2018-July 30, 2019. Staff has found CBRE agent Brian Pankratz to be available, engaged, knowledgeable and helpful when it comes to marketing city owned parcels. CBRE utilizes many proven marketing methods such as:
Having a company like CBRE market city properties to its broker community and clients has its advantages. CBRE has a good reputation within the broker community. The maintenance and updating of marketing materials by CBRE including, signage and MNCAR listings is convenient for Staff and access to current market data is helpful. Based on city records the City has closed on nine properties, with four more pending that CBRE has listed for the City since 2014. A closing is scheduled for May 3 for Parcel 6 (Muni Site).
Currently, the City has seventeen City owned properties listed with CBRE including seven under contract. Eleven of these properties are in the COR and the rest are scattered across the community.
In late 2018, Anoka County has added a regional economic development presence to Anoka County as presented to the EDA last year. The City of Ramsey is included in this partnership and has the opportunity to list its properties on MNCAR at a nominal cost. This is a feature is also provided by CBRE as part of its listing contract free of cost. Anoka County does not provide signage on site for marketing and does not have the reputation or experience of a CBRE in the broker community at this time. It is difficult to fully compare CBRE to the new Anoka County Regional Economic Development Partnership. CBRE is a proven industry leader, but there are some cost advantages of utilizing the MNCAR service that Anoka County can provide that reach the same audience in similar ways.
The EDA met in January 2019 and also discussed at a Joint Work Session with the City Council on February 26, 2019. The EDA then met again on April 11, 2019 to discuss the matter further. On April 11, 2019, the EDA recommended that Staff work with CBRE to revise the current contract. Key points of discussion included, but were not limited to the following.
- Removing parcels outside of the COR from the listing agreement
- Adding language that would reduce, or eliminate commission for leads that were not generated by CBRE (Clear-cut City leads, etc.)
A proposed contract with revised language is attached for review.
Additional Background
The City has been engaged in a contract with CBRE since January 28, 2014 to list and market City owned properties in the COR and other areas. The City and CBRE have executed multiple amendments to the contract with the latest being a one year contract from July 31, 2018-July 30, 2019. Staff has found CBRE agent Brian Pankratz to be available, engaged, knowledgeable and helpful when it comes to marketing city owned parcels. CBRE utilizes many proven marketing methods such as:
- Real Estate Signagesignage on site,
- Online listings such as MNCAR (internet) and
- Connection to the broker community.
Having a company like CBRE market city properties to its broker community and clients has its advantages. CBRE has a good reputation within the broker community. The maintenance and updating of marketing materials by CBRE including, signage and MNCAR listings is convenient for Staff and access to current market data is helpful. Based on city records the City has closed on nine properties, with four more pending that CBRE has listed for the City since 2014. A closing is scheduled for May 3 for Parcel 6 (Muni Site).
Currently, the City has seventeen City owned properties listed with CBRE including seven under contract. Eleven of these properties are in the COR and the rest are scattered across the community.
In late 2018, Anoka County has added a regional economic development presence to Anoka County as presented to the EDA last year. The City of Ramsey is included in this partnership and has the opportunity to list its properties on MNCAR at a nominal cost. This is a feature is also provided by CBRE as part of its listing contract free of cost. Anoka County does not provide signage on site for marketing and does not have the reputation or experience of a CBRE in the broker community at this time. It is difficult to fully compare CBRE to the new Anoka County Regional Economic Development Partnership. CBRE is a proven industry leader, but there are some cost advantages of utilizing the MNCAR service that Anoka County can provide that reach the same audience in similar ways.
The purpose of this case is to review the City's strategy for real estate management for City Owned Parcels.
The EDA met in January 2019 and also discussed at a Joint Work Session with the City Council on February 26, 2019. The EDA then met again on April 11, 2019 to discuss the matter further. On April 11, 2019, the EDA recommended that Staff work with CBRE to revise the current contract. Key points of discussion included, but were not limited to the following.
A proposed contract with revised language is attached for review.
Additional Background
The City has been engaged in a contract with CBRE since January 28, 2014 to list and market City owned properties in the COR and other areas. The City and CBRE have executed multiple amendments to the contract with the latest being a one year contract from July 31, 2018-July 30, 2019. Staff has found CBRE agent Brian Pankratz to be available, engaged, knowledgeable and helpful when it comes to marketing city owned parcels. CBRE utilizes many proven marketing methods such as:
Having a company like CBRE market city properties to its broker community and clients has its advantages. CBRE has a good reputation within the broker community. The maintenance and updating of marketing materials by CBRE including, signage and MNCAR listings is convenient for Staff and access to current market data is helpful. Based on city records the City has closed on nine properties, with four more pending that CBRE has listed for the City since 2014. A closing is scheduled for May 3 for Parcel 6 (Muni Site).
Currently, the City has seventeen City owned properties listed with CBRE including seven under contract. Eleven of these properties are in the COR and the rest are scattered across the community.
In late 2018, Anoka County has added a regional economic development presence to Anoka County as presented to the EDA last year. The City of Ramsey is included in this partnership and has the opportunity to list its properties on MNCAR at a nominal cost. This is a feature is also provided by CBRE as part of its listing contract free of cost. Anoka County does not provide signage on site for marketing and does not have the reputation or experience of a CBRE in the broker community at this time. It is difficult to fully compare CBRE to the new Anoka County Regional Economic Development Partnership. CBRE is a proven industry leader, but there are some cost advantages of utilizing the MNCAR service that Anoka County can provide that reach the same audience in similar ways.
The EDA met in January 2019 and also discussed at a Joint Work Session with the City Council on February 26, 2019. The EDA then met again on April 11, 2019 to discuss the matter further. On April 11, 2019, the EDA recommended that Staff work with CBRE to revise the current contract. Key points of discussion included, but were not limited to the following.
- Removing parcels outside of the COR from the listing agreement
- Adding language that would reduce, or eliminate commission for leads that were not generated by CBRE (Clear-cut City leads, etc.)
A proposed contract with revised language is attached for review.
Additional Background
The City has been engaged in a contract with CBRE since January 28, 2014 to list and market City owned properties in the COR and other areas. The City and CBRE have executed multiple amendments to the contract with the latest being a one year contract from July 31, 2018-July 30, 2019. Staff has found CBRE agent Brian Pankratz to be available, engaged, knowledgeable and helpful when it comes to marketing city owned parcels. CBRE utilizes many proven marketing methods such as:
- Real Estate signs on site,
- Online listings such as MNCAR (internet) and
- Connection to the broker community.
Having a company like CBRE market city properties to its broker community and clients has its advantages. CBRE has a good reputation within the broker community. The maintenance and updating of marketing materials by CBRE including, signage and MNCAR listings is convenient for Staff and access to current market data is helpful. Based on city records the City has closed on nine properties, with four more pending that CBRE has listed for the City since 2014. A closing is scheduled for May 3 for Parcel 6 (Muni Site).
Currently, the City has seventeen City owned properties listed with CBRE including seven under contract. Eleven of these properties are in the COR and the rest are scattered across the community.
In late 2018, Anoka County has added a regional economic development presence to Anoka County as presented to the EDA last year. The City of Ramsey is included in this partnership and has the opportunity to list its properties on MNCAR at a nominal cost. This is a feature is also provided by CBRE as part of its listing contract free of cost. Anoka County does not provide signage on site for marketing and does not have the reputation or experience of a CBRE in the broker community at this time. It is difficult to fully compare CBRE to the new Anoka County Regional Economic Development Partnership. CBRE is a proven industry leader, but there are some cost advantages of utilizing the MNCAR service that Anoka County can provide that reach the same audience in similar ways.
The purpose of this case is to review the City's strategy for real estate management for City Owned Parcels.
The EDA met in January 2019 and also discussed at a Joint Work Session with the City Council on February 26, 2019. The EDA then met again on April 11, 2019 to discuss the matter further. On April 11, 2019, the EDA recommended that Staff work with CBRE to revise the current contract. Key points of discussion included, but were not limited to the following.
A proposed contract with revised language is attached for review.
Additional Background
The City has been engaged in a contract with CBRE since January 28, 2014 to list and market City owned properties in the COR and other areas. The City and CBRE have executed multiple amendments to the contract with the latest being a one year contract from July 31, 2018-July 30, 2019. Staff has found CBRE agent Brian Pankratz to be available, engaged, knowledgeable and helpful when it comes to marketing city owned parcels. CBRE utilizes many proven marketing methods such as:
Having a company like CBRE market city properties to its broker community and clients has its advantages. CBRE has a good reputation within the broker community. The maintenance and updating of marketing materials by CBRE including, signage and MNCAR listings is convenient for Staff and access to current market data is helpful. Based on city records the City has closed on nine properties, with four more pending that CBRE has listed for the City since 2014. A closing is scheduled for May 3 for Parcel 6 (Muni Site).
Currently, the City has seventeen City owned properties listed with CBRE including seven under contract. Eleven of these properties are in the COR and the rest are scattered across the community.
In late 2018, Anoka County has added a regional economic development presence to Anoka County as presented to the EDA last year. The City of Ramsey is included in this partnership and has the opportunity to list its properties on MNCAR at a nominal cost. This is a feature is also provided by CBRE as part of its listing contract free of cost. Anoka County does not provide signage on site for marketing and does not have the reputation or experience of a CBRE in the broker community at this time. It is difficult to fully compare CBRE to the new Anoka County Regional Economic Development Partnership. CBRE is a proven industry leader, but there are some cost advantages of utilizing the MNCAR service that Anoka County can provide that reach the same audience in similar ways.
The EDA met in January 2019 and also discussed at a Joint Work Session with the City Council on February 26, 2019. The EDA then met again on April 11, 2019 to discuss the matter further. On April 11, 2019, the EDA recommended that Staff work with CBRE to revise the current contract. Key points of discussion included, but were not limited to the following.
- Removing parcels outside of the COR from the listing agreement
- Adding language that would reduce, or eliminate commission for leads that were not generated by CBRE (Clear-cut City leads, etc.)
A proposed contract with revised language is attached for review.
Additional Background
The City has been engaged in a contract with CBRE since January 28, 2014 to list and market City owned properties in the COR and other areas. The City and CBRE have executed multiple amendments to the contract with the latest being a one year contract from July 31, 2018-July 30, 2019. Staff has found CBRE agent Brian Pankratz to be available, engaged, knowledgeable and helpful when it comes to marketing city owned parcels. CBRE utilizes many proven marketing methods such as:
- Real Estate signs on site,
- Online listings such as MNCAR (internet) and
- Connection to the broker community.
Having a company like CBRE market city properties to its broker community and clients has its advantages. CBRE has a good reputation within the broker community. The maintenance and updating of marketing materials by CBRE including, signage and MNCAR listings is convenient for Staff and access to current market data is helpful. Based on city records the City has closed on nine properties, with four more pending that CBRE has listed for the City since 2014. A closing is scheduled for May 3 for Parcel 6 (Muni Site).
Currently, the City has seventeen City owned properties listed with CBRE including seven under contract. Eleven of these properties are in the COR and the rest are scattered across the community.
In late 2018, Anoka County has added a regional economic development presence to Anoka County as presented to the EDA last year. The City of Ramsey is included in this partnership and has the opportunity to list its properties on MNCAR at a nominal cost. This is a feature is also provided by CBRE as part of its listing contract free of cost. Anoka County does not provide signage on site for marketing and does not have the reputation or experience of a CBRE in the broker community at this time. It is difficult to fully compare CBRE to the new Anoka County Regional Economic Development Partnership. CBRE is a proven industry leader, but there are some cost advantages of utilizing the MNCAR service that Anoka County can provide that reach the same audience in similar ways.
The purpose of this case is to review the City's strategy for real estate management for City Owned Parcels.
The EDA met in January 2019 and also discussed at a Joint Work Session with the City Council on February 26, 2019. The EDA then met again on April 11, 2019 to discuss the matter further. On April 11, 2019, the EDA recommended that Staff work with CBRE to revise the current contract. Key points of discussion included, but were not limited to the following.
A proposed contract with revised language is attached for review.
Additional Background
The City has been engaged in a contract with CBRE since January 28, 2014 to list and market City owned properties in the COR and other areas. The City and CBRE have executed multiple amendments to the contract with the latest being a one year contract from July 31, 2018-July 30, 2019. Staff has found CBRE agent Brian Pankratz to be available, engaged, knowledgeable and helpful when it comes to marketing city owned parcels. CBRE utilizes many proven marketing methods such as:
Having a company like CBRE market city properties to its broker community and clients has its advantages. CBRE has a good reputation within the broker community. The maintenance and updating of marketing materials by CBRE including, signage and MNCAR listings is convenient for Staff and access to current market data is helpful. Based on city records the City has closed on nine properties, with four more pending that CBRE has listed for the City since 2014. A closing is scheduled for May 3 for Parcel 6 (Muni Site).
Currently, the City has seventeen City owned properties listed with CBRE including seven under contract. Eleven of these properties are in the COR and the rest are scattered across the community.
In late 2018, Anoka County has added a regional economic development presence to Anoka County as presented to the EDA last year. The City of Ramsey is included in this partnership and has the opportunity to list its properties on MNCAR at a nominal cost. This is a feature is also provided by CBRE as part of its listing contract free of cost. Anoka County does not provide signage on site for marketing and does not have the reputation or experience of a CBRE in the broker community at this time. It is difficult to fully compare CBRE to the new Anoka County Regional Economic Development Partnership. CBRE is a proven industry leader, but there are some cost advantages of utilizing the MNCAR service that Anoka County can provide that reach the same audience in similar ways.
The EDA met in January 2019 and also discussed at a Joint Work Session with the City Council on February 26, 2019. The EDA then met again on April 11, 2019 to discuss the matter further. On April 11, 2019, the EDA recommended that Staff work with CBRE to revise the current contract. Key points of discussion included, but were not limited to the following.
- Removing parcels outside of the COR from the listing agreement
- Adding language that would reduce, or eliminate commission for leads that were not generated by CBRE (Clear-cut City leads, etc.)
A proposed contract with revised language is attached for review.
Additional Background
The City has been engaged in a contract with CBRE since January 28, 2014 to list and market City owned properties in the COR and other areas. The City and CBRE have executed multiple amendments to the contract with the latest being a one year contract from July 31, 2018-July 30, 2019. Staff has found CBRE agent Brian Pankratz to be available, engaged, knowledgeable and helpful when it comes to marketing city owned parcels. CBRE utilizes many proven marketing methods such as:
- Real Estate Signagesignage on site,
- Online listings such as MNCAR (internet) and
- Connection to the broker community.
Having a company like CBRE market city properties to its broker community and clients has its advantages. CBRE has a good reputation within the broker community. The maintenance and updating of marketing materials by CBRE including, signage and MNCAR listings is convenient for Staff and access to current market data is helpful. Based on city records the City has closed on nine properties, with four more pending that CBRE has listed for the City since 2014. A closing is scheduled for May 3 for Parcel 6 (Muni Site).
Currently, the City has seventeen City owned properties listed with CBRE including seven under contract. Eleven of these properties are in the COR and the rest are scattered across the community.
In late 2018, Anoka County has added a regional economic development presence to Anoka County as presented to the EDA last year. The City of Ramsey is included in this partnership and has the opportunity to list its properties on MNCAR at a nominal cost. This is a feature is also provided by CBRE as part of its listing contract free of cost. Anoka County does not provide signage on site for marketing and does not have the reputation or experience of a CBRE in the broker community at this time. It is difficult to fully compare CBRE to the new Anoka County Regional Economic Development Partnership. CBRE is a proven industry leader, but there are some cost advantages of utilizing the MNCAR service that Anoka County can provide that reach the same audience in similar ways.
The purpose of this case is to review the City's strategy for real estate management for City Owned Parcels.
The EDA met in January 2019 and also discussed at a Joint Work Session with the City Council on February 26, 2019. The EDA then met again on April 11, 2019 to discuss the matter further. On April 11, 2019, the EDA recommended that Staff work with CBRE to revise the current contract. Key points of discussion included, but were not limited to the following.
A proposed contract with revised language is attached for review.
Additional Background
The City has been engaged in a contract with CBRE since January 28, 2014 to list and market City owned properties in the COR and other areas. The City and CBRE have executed multiple amendments to the contract with the latest being a one year contract from July 31, 2018-July 30, 2019. Staff has found CBRE agent Brian Pankratz to be available, engaged, knowledgeable and helpful when it comes to marketing city owned parcels. CBRE utilizes many proven marketing methods such as:
Having a company like CBRE market city properties to its broker community and clients has its advantages. CBRE has a good reputation within the broker community. The maintenance and updating of marketing materials by CBRE including, signage and MNCAR listings is convenient for Staff and access to current market data is helpful. Based on city records the City has closed on nine properties, with four more pending that CBRE has listed for the City since 2014. A closing is scheduled for May 3 for Parcel 6 (Muni Site).
Currently, the City has seventeen City owned properties listed with CBRE including seven under contract. Eleven of these properties are in the COR and the rest are scattered across the community.
In late 2018, Anoka County has added a regional economic development presence to Anoka County as presented to the EDA last year. The City of Ramsey is included in this partnership and has the opportunity to list its properties on MNCAR at a nominal cost. This is a feature is also provided by CBRE as part of its listing contract free of cost. Anoka County does not provide signage on site for marketing and does not have the reputation or experience of a CBRE in the broker community at this time. It is difficult to fully compare CBRE to the new Anoka County Regional Economic Development Partnership. CBRE is a proven industry leader, but there are some cost advantages of utilizing the MNCAR service that Anoka County can provide that reach the same audience in similar ways.
The EDA met in January 2019 and also discussed at a Joint Work Session with the City Council on February 26, 2019. The EDA then met again on April 11, 2019 to discuss the matter further. On April 11, 2019, the EDA recommended that Staff work with CBRE to revise the current contract. Key points of discussion included, but were not limited to the following.
- Removing parcels outside of the COR from the listing agreement
- Adding language that would reduce, or eliminate commission for leads that were not generated by CBRE (Clear-cut City leads, etc.)
A proposed contract with revised language is attached for review.
Additional Background
The City has been engaged in a contract with CBRE since January 28, 2014 to list and market City owned properties in the COR and other areas. The City and CBRE have executed multiple amendments to the contract with the latest being a one year contract from July 31, 2018-July 30, 2019. Staff has found CBRE agent Brian Pankratz to be available, engaged, knowledgeable and helpful when it comes to marketing city owned parcels. CBRE utilizes many proven marketing methods such as:
- Real Estate Signagesignage on site,
- Online listings such as MNCAR (internet) and
- Connection to the broker community.
Having a company like CBRE market city properties to its broker community and clients has its advantages. CBRE has a good reputation within the broker community. The maintenance and updating of marketing materials by CBRE including, signage and MNCAR listings is convenient for Staff and access to current market data is helpful. Based on city records the City has closed on nine properties, with four more pending that CBRE has listed for the City since 2014. A closing is scheduled for May 3 for Parcel 6 (Muni Site).
Currently, the City has seventeen City owned properties listed with CBRE including seven under contract. Eleven of these properties are in the COR and the rest are scattered across the community.
In late 2018, Anoka County has added a regional economic development presence to Anoka County as presented to the EDA last year. The City of Ramsey is included in this partnership and has the opportunity to list its properties on MNCAR at a nominal cost. This is a feature is also provided by CBRE as part of its listing contract free of cost. Anoka County does not provide signage on site for marketing and does not have the reputation or experience of a CBRE in the broker community at this time. It is difficult to fully compare CBRE to the new Anoka County Regional Economic Development Partnership. CBRE is a proven industry leader, but there are some cost advantages of utilizing the MNCAR service that Anoka County can provide that reach the same audience in similar ways.
The purpose of this case is to review the City's strategy for real estate management for City Owned Parcels.
The EDA met in January 2019 and also discussed at a Joint Work Session with the City Council on February 26, 2019. The EDA then met again on April 11, 2019 to discuss the matter further. On April 11, 2019, the EDA recommended that Staff work with CBRE to revise the current contract. Key points of discussion included, but were not limited to the following.
A proposed contract with revised language is attached for review.
Additional Background
The City has been engaged in a contract with CBRE since January 28, 2014 to list and market City owned properties in the COR and other areas. The City and CBRE have executed multiple amendments to the contract with the latest being a one year contract from July 31, 2018-July 30, 2019. Staff has found CBRE agent Brian Pankratz to be available, engaged, knowledgeable and helpful when it comes to marketing city owned parcels. CBRE utilizes many proven marketing methods such as:
Having a company like CBRE market city properties to its broker community and clients has its advantages. CBRE has a good reputation within the broker community. The maintenance and updating of marketing materials by CBRE including, signage and MNCAR listings is convenient for Staff and access to current market data is helpful. Based on city records the City has closed on nine properties, with four more pending that CBRE has listed for the City since 2014. A closing is scheduled for May 3 for Parcel 6 (Muni Site).
Currently, the City has seventeen City owned properties listed with CBRE including seven under contract. Eleven of these properties are in the COR and the rest are scattered across the community.
In late 2018, Anoka County has added a regional economic development presence to Anoka County as presented to the EDA last year. The City of Ramsey is included in this partnership and has the opportunity to list its properties on MNCAR at a nominal cost. This is a feature is also provided by CBRE as part of its listing contract free of cost. Anoka County does not provide signage on site for marketing and does not have the reputation or experience of a CBRE in the broker community at this time. It is difficult to fully compare CBRE to the new Anoka County Regional Economic Development Partnership. CBRE is a proven industry leader, but there are some cost advantages of utilizing the MNCAR service that Anoka County can provide that reach the same audience in similar ways.
The EDA met in January 2019 and also discussed at a Joint Work Session with the City Council on February 26, 2019. The EDA then met again on April 11, 2019 to discuss the matter further. On April 11, 2019, the EDA recommended that Staff work with CBRE to revise the current contract. Key points of discussion included, but were not limited to the following.
- Removing parcels outside of the COR from the listing agreement
- Adding language that would reduce, or eliminate commission for leads that were not generated by CBRE (Clear-cut City leads, etc.)
A proposed contract with revised language is attached for review.
Additional Background
The City has been engaged in a contract with CBRE since January 28, 2014 to list and market City owned properties in the COR and other areas. The City and CBRE have executed multiple amendments to the contract with the latest being a one year contract from July 31, 2018-July 30, 2019. Staff has found CBRE agent Brian Pankratz to be available, engaged, knowledgeable and helpful when it comes to marketing city owned parcels. CBRE utilizes many proven marketing methods such as:
- Real Estate signs on site,
- Online listings such as MNCAR (internet) and
- Connection to the broker community.
Having a company like CBRE market city properties to its broker community and clients has its advantages. CBRE has a good reputation within the broker community. The maintenance and updating of marketing materials by CBRE including, signage and MNCAR listings is convenient for Staff and access to current market data is helpful. Based on city records the City has closed on nine properties, with four more pending that CBRE has listed for the City since 2014. A closing is scheduled for May 3 for Parcel 6 (Muni Site).
Currently, the City has seventeen City owned properties listed with CBRE including seven under contract. Eleven of these properties are in the COR and the rest are scattered across the community.
In late 2018, Anoka County has added a regional economic development presence to Anoka County as presented to the EDA last year. The City of Ramsey is included in this partnership and has the opportunity to list its properties on MNCAR at a nominal cost. This is a feature is also provided by CBRE as part of its listing contract free of cost. Anoka County does not provide signage on site for marketing and does not have the reputation or experience of a CBRE in the broker community at this time. It is difficult to fully compare CBRE to the new Anoka County Regional Economic Development Partnership. CBRE is a proven industry leader, but there are some cost advantages of utilizing the MNCAR service that Anoka County can provide that reach the same audience in similar ways.
The purpose of this case is to review the City's strategy for real estate management for City Owned Parcels.
The EDA met in January 2019 and also discussed at a Joint Work Session with the City Council on February 26, 2019. The EDA then met again on April 11, 2019 to discuss the matter further. On April 11, 2019, the EDA recommended that Staff work with CBRE to revise the current contract. Key points of discussion included, but were not limited to the following.
A proposed contract with revised language is attached for review.
Additional Background
The City has been engaged in a contract with CBRE since January 28, 2014 to list and market City owned properties in the COR and other areas. The City and CBRE have executed multiple amendments to the contract with the latest being a one year contract from July 31, 2018-July 30, 2019. Staff has found CBRE agent Brian Pankratz to be available, engaged, knowledgeable and helpful when it comes to marketing city owned parcels. CBRE utilizes many proven marketing methods such as:
Having a company like CBRE market city properties to its broker community and clients has its advantages. CBRE has a good reputation within the broker community. The maintenance and updating of marketing materials by CBRE including, signage and MNCAR listings is convenient for Staff and access to current market data is helpful. Based on city records the City has closed on nine properties, with four more pending that CBRE has listed for the City since 2014. A closing is scheduled for May 3 for Parcel 6 (Muni Site).
Currently, the City has seventeen City owned properties listed with CBRE including seven under contract. Eleven of these properties are in the COR and the rest are scattered across the community.
In late 2018, Anoka County has added a regional economic development presence to Anoka County as presented to the EDA last year. The City of Ramsey is included in this partnership and has the opportunity to list its properties on MNCAR at a nominal cost. This is a feature is also provided by CBRE as part of its listing contract free of cost. Anoka County does not provide signage on site for marketing and does not have the reputation or experience of a CBRE in the broker community at this time. It is difficult to fully compare CBRE to the new Anoka County Regional Economic Development Partnership. CBRE is a proven industry leader, but there are some cost advantages of utilizing the MNCAR service that Anoka County can provide that reach the same audience in similar ways.
The EDA met in January 2019 and also discussed at a Joint Work Session with the City Council on February 26, 2019. The EDA then met again on April 11, 2019 to discuss the matter further. On April 11, 2019, the EDA recommended that Staff work with CBRE to revise the current contract. Key points of discussion included, but were not limited to the following.
- Removing parcels outside of the COR from the listing agreement
- Adding language that would reduce, or eliminate commission for leads that were not generated by CBRE (Clear-cut City leads, etc.)
A proposed contract with revised language is attached for review.
Additional Background
The City has been engaged in a contract with CBRE since January 28, 2014 to list and market City owned properties in the COR and other areas. The City and CBRE have executed multiple amendments to the contract with the latest being a one year contract from July 31, 2018-July 30, 2019. Staff has found CBRE agent Brian Pankratz to be available, engaged, knowledgeable and helpful when it comes to marketing city owned parcels. CBRE utilizes many proven marketing methods such as:
- Real Estate signs on site,
- Online listings such as MNCAR (internet) and
- Connection to the broker community.
Having a company like CBRE market city properties to its broker community and clients has its advantages. CBRE has a good reputation within the broker community. The maintenance and updating of marketing materials by CBRE including, signage and MNCAR listings is convenient for Staff and access to current market data is helpful. Based on city records the City has closed on nine properties, with four more pending that CBRE has listed for the City since 2014. A closing is scheduled for May 3 for Parcel 6 (Muni Site).
Currently, the City has seventeen City owned properties listed with CBRE including seven under contract. Eleven of these properties are in the COR and the rest are scattered across the community.
In late 2018, Anoka County has added a regional economic development presence to Anoka County as presented to the EDA last year. The City of Ramsey is included in this partnership and has the opportunity to list its properties on MNCAR at a nominal cost. This is a feature is also provided by CBRE as part of its listing contract free of cost. Anoka County does not provide signage on site for marketing and does not have the reputation or experience of a CBRE in the broker community at this time. It is difficult to fully compare CBRE to the new Anoka County Regional Economic Development Partnership. CBRE is a proven industry leader, but there are some cost advantages of utilizing the MNCAR service that Anoka County can provide that reach the same audience in similar ways.
The purpose of this case is to review the City's strategy for real estate management for City Owned Parcels.
The EDA met in January 2019 and also discussed at a Joint Work Session with the City Council on February 26, 2019. The EDA then met again on April 11, 2019 to discuss the matter further. On April 11, 2019, the EDA recommended that Staff work with CBRE to revise the current contract. Key points of discussion included, but were not limited to the following.
A proposed contract with revised language is attached for review.
Additional Background
The City has been engaged in a contract with CBRE since January 28, 2014 to list and market City owned properties in the COR and other areas. The City and CBRE have executed multiple amendments to the contract with the latest being a one year contract from July 31, 2018-July 30, 2019. Staff has found CBRE agent Brian Pankratz to be available, engaged, knowledgeable and helpful when it comes to marketing city owned parcels. CBRE utilizes many proven marketing methods such as:
Having a company like CBRE market city properties to its broker community and clients has its advantages. CBRE has a good reputation within the broker community. The maintenance and updating of marketing materials by CBRE including, signage and MNCAR listings is convenient for Staff and access to current market data is helpful. Based on city records the City has closed on nine properties, with four more pending that CBRE has listed for the City since 2014. A closing is scheduled for May 3 for Parcel 6 (Muni Site).
Currently, the City has seventeen City owned properties listed with CBRE including seven under contract. Eleven of these properties are in the COR and the rest are scattered across the community.
In late 2018, Anoka County has added a regional economic development presence to Anoka County as presented to the EDA last year. The City of Ramsey is included in this partnership and has the opportunity to list its properties on MNCAR at a nominal cost. This is a feature is also provided by CBRE as part of its listing contract free of cost. Anoka County does not provide signage on site for marketing and does not have the reputation or experience of a CBRE in the broker community at this time. It is difficult to fully compare CBRE to the new Anoka County Regional Economic Development Partnership. CBRE is a proven industry leader, but there are some cost advantages of utilizing the MNCAR service that Anoka County can provide that reach the same audience in similar ways.
The EDA met in January 2019 and also discussed at a Joint Work Session with the City Council on February 26, 2019. The EDA then met again on April 11, 2019 to discuss the matter further. On April 11, 2019, the EDA recommended that Staff work with CBRE to revise the current contract. Key points of discussion included, but were not limited to the following.
- Removing parcels outside of the COR from the listing agreement
- Adding language that would reduce, or eliminate commission for leads that were not generated by CBRE (Clear-cut City leads, etc.)
A proposed contract with revised language is attached for review.
Additional Background
The City has been engaged in a contract with CBRE since January 28, 2014 to list and market City owned properties in the COR and other areas. The City and CBRE have executed multiple amendments to the contract with the latest being a one year contract from July 31, 2018-July 30, 2019. Staff has found CBRE agent Brian Pankratz to be available, engaged, knowledgeable and helpful when it comes to marketing city owned parcels. CBRE utilizes many proven marketing methods such as:
- Real Estate Signagesignage on site,
- Online listings such as MNCAR (internet) and
- Connection to the broker community.
Having a company like CBRE market city properties to its broker community and clients has its advantages. CBRE has a good reputation within the broker community. The maintenance and updating of marketing materials by CBRE including, signage and MNCAR listings is convenient for Staff and access to current market data is helpful. Based on city records the City has closed on nine properties, with four more pending that CBRE has listed for the City since 2014. A closing is scheduled for May 3 for Parcel 6 (Muni Site).
Currently, the City has seventeen City owned properties listed with CBRE including seven under contract. Eleven of these properties are in the COR and the rest are scattered across the community.
In late 2018, Anoka County has added a regional economic development presence to Anoka County as presented to the EDA last year. The City of Ramsey is included in this partnership and has the opportunity to list its properties on MNCAR at a nominal cost. This is a feature is also provided by CBRE as part of its listing contract free of cost. Anoka County does not provide signage on site for marketing and does not have the reputation or experience of a CBRE in the broker community at this time. It is difficult to fully compare CBRE to the new Anoka County Regional Economic Development Partnership. CBRE is a proven industry leader, but there are some cost advantages of utilizing the MNCAR service that Anoka County can provide that reach the same audience in similar ways.
The purpose of this case is to review the City's strategy for real estate management for City Owned Parcels.
The EDA met in January 2019 and also discussed at a Joint Work Session with the City Council on February 26, 2019. The EDA then met again on April 11, 2019 to discuss the matter further. On April 11, 2019, the EDA recommended that Staff work with CBRE to revise the current contract. Key points of discussion included, but were not limited to the following.
A proposed contract with revised language is attached for review.
Additional Background
The City has been engaged in a contract with CBRE since January 28, 2014 to list and market City owned properties in the COR and other areas. The City and CBRE have executed multiple amendments to the contract with the latest being a one year contract from July 31, 2018-July 30, 2019. Staff has found CBRE agent Brian Pankratz to be available, engaged, knowledgeable and helpful when it comes to marketing city owned parcels. CBRE utilizes many proven marketing methods such as:
Having a company like CBRE market city properties to its broker community and clients has its advantages. CBRE has a good reputation within the broker community. The maintenance and updating of marketing materials by CBRE including, signage and MNCAR listings is convenient for Staff and access to current market data is helpful. Based on city records the City has closed on nine properties, with four more pending that CBRE has listed for the City since 2014. A closing is scheduled for May 3 for Parcel 6 (Muni Site).
Currently, the City has seventeen City owned properties listed with CBRE including seven under contract. Eleven of these properties are in the COR and the rest are scattered across the community.
In late 2018, Anoka County has added a regional economic development presence to Anoka County as presented to the EDA last year. The City of Ramsey is included in this partnership and has the opportunity to list its properties on MNCAR at a nominal cost. This is a feature is also provided by CBRE as part of its listing contract free of cost. Anoka County does not provide signage on site for marketing and does not have the reputation or experience of a CBRE in the broker community at this time. It is difficult to fully compare CBRE to the new Anoka County Regional Economic Development Partnership. CBRE is a proven industry leader, but there are some cost advantages of utilizing the MNCAR service that Anoka County can provide that reach the same audience in similar ways.
The EDA met in January 2019 and also discussed at a Joint Work Session with the City Council on February 26, 2019. The EDA then met again on April 11, 2019 to discuss the matter further. On April 11, 2019, the EDA recommended that Staff work with CBRE to revise the current contract. Key points of discussion included, but were not limited to the following.
- Removing parcels outside of the COR from the listing agreement
- Adding language that would reduce, or eliminate commission for leads that were not generated by CBRE (Clear-cut City leads, etc.)
A proposed contract with revised language is attached for review.
Additional Background
The City has been engaged in a contract with CBRE since January 28, 2014 to list and market City owned properties in the COR and other areas. The City and CBRE have executed multiple amendments to the contract with the latest being a one year contract from July 31, 2018-July 30, 2019. Staff has found CBRE agent Brian Pankratz to be available, engaged, knowledgeable and helpful when it comes to marketing city owned parcels. CBRE utilizes many proven marketing methods such as:
- Real Estate signs on site,
- Online listings such as MNCAR (internet) and
- Connection to the broker community.
Having a company like CBRE market city properties to its broker community and clients has its advantages. CBRE has a good reputation within the broker community. The maintenance and updating of marketing materials by CBRE including, signage and MNCAR listings is convenient for Staff and access to current market data is helpful. Based on city records the City has closed on nine properties, with four more pending that CBRE has listed for the City since 2014. A closing is scheduled for May 3 for Parcel 6 (Muni Site).
Currently, the City has seventeen City owned properties listed with CBRE including seven under contract. Eleven of these properties are in the COR and the rest are scattered across the community.
In late 2018, Anoka County has added a regional economic development presence to Anoka County as presented to the EDA last year. The City of Ramsey is included in this partnership and has the opportunity to list its properties on MNCAR at a nominal cost. This is a feature is also provided by CBRE as part of its listing contract free of cost. Anoka County does not provide signage on site for marketing and does not have the reputation or experience of a CBRE in the broker community at this time. It is difficult to fully compare CBRE to the new Anoka County Regional Economic Development Partnership. CBRE is a proven industry leader, but there are some cost advantages of utilizing the MNCAR service that Anoka County can provide that reach the same audience in similar ways.
The purpose of this case is to review the City's strategy for real estate management for City Owned Parcels.
The EDA met in January 2019 and also discussed at a Joint Work Session with the City Council on February 26, 2019. The EDA then met again on April 11, 2019 to discuss the matter further. On April 11, 2019, the EDA recommended that Staff work with CBRE to revise the current contract. Key points of discussion included, but were not limited to the following.
A proposed contract with revised language is attached for review.
Additional Background
The City has been engaged in a contract with CBRE since January 28, 2014 to list and market City owned properties in the COR and other areas. The City and CBRE have executed multiple amendments to the contract with the latest being a one year contract from July 31, 2018-July 30, 2019. Staff has found CBRE agent Brian Pankratz to be available, engaged, knowledgeable and helpful when it comes to marketing city owned parcels. CBRE utilizes many proven marketing methods such as:
Having a company like CBRE market city properties to its broker community and clients has its advantages. CBRE has a good reputation within the broker community. The maintenance and updating of marketing materials by CBRE including, signage and MNCAR listings is convenient for Staff and access to current market data is helpful. Based on city records the City has closed on nine properties, with four more pending that CBRE has listed for the City since 2014. A closing is scheduled for May 3 for Parcel 6 (Muni Site).
Currently, the City has seventeen City owned properties listed with CBRE including seven under contract. Eleven of these properties are in the COR and the rest are scattered across the community.
In late 2018, Anoka County has added a regional economic development presence to Anoka County as presented to the EDA last year. The City of Ramsey is included in this partnership and has the opportunity to list its properties on MNCAR at a nominal cost. This is a feature is also provided by CBRE as part of its listing contract free of cost. Anoka County does not provide signage on site for marketing and does not have the reputation or experience of a CBRE in the broker community at this time. It is difficult to fully compare CBRE to the new Anoka County Regional Economic Development Partnership. CBRE is a proven industry leader, but there are some cost advantages of utilizing the MNCAR service that Anoka County can provide that reach the same audience in similar ways.
The EDA met in January 2019 and also discussed at a Joint Work Session with the City Council on February 26, 2019. The EDA then met again on April 11, 2019 to discuss the matter further. On April 11, 2019, the EDA recommended that Staff work with CBRE to revise the current contract. Key points of discussion included, but were not limited to the following.
- Removing parcels outside of the COR from the listing agreement
- Adding language that would reduce, or eliminate commission for leads that were not generated by CBRE (Clear-cut City leads, etc.)
A proposed contract with revised language is attached for review.
Additional Background
The City has been engaged in a contract with CBRE since January 28, 2014 to list and market City owned properties in the COR and other areas. The City and CBRE have executed multiple amendments to the contract with the latest being a one year contract from July 31, 2018-July 30, 2019. Staff has found CBRE agent Brian Pankratz to be available, engaged, knowledgeable and helpful when it comes to marketing city owned parcels. CBRE utilizes many proven marketing methods such as:
- Real Estate signs on site,
- Online listings such as MNCAR (internet) and
- Connection to the broker community.
Having a company like CBRE market city properties to its broker community and clients has its advantages. CBRE has a good reputation within the broker community. The maintenance and updating of marketing materials by CBRE including, signage and MNCAR listings is convenient for Staff and access to current market data is helpful. Based on city records the City has closed on nine properties, with four more pending that CBRE has listed for the City since 2014. A closing is scheduled for May 3 for Parcel 6 (Muni Site).
Currently, the City has seventeen City owned properties listed with CBRE including seven under contract. Eleven of these properties are in the COR and the rest are scattered across the community.
In late 2018, Anoka County has added a regional economic development presence to Anoka County as presented to the EDA last year. The City of Ramsey is included in this partnership and has the opportunity to list its properties on MNCAR at a nominal cost. This is a feature is also provided by CBRE as part of its listing contract free of cost. Anoka County does not provide signage on site for marketing and does not have the reputation or experience of a CBRE in the broker community at this time. It is difficult to fully compare CBRE to the new Anoka County Regional Economic Development Partnership. CBRE is a proven industry leader, but there are some cost advantages of utilizing the MNCAR service that Anoka County can provide that reach the same audience in similar ways.
The purpose of this case is to review the City's strategy for real estate management for City Owned Parcels.
The EDA met in January 2019 and also discussed at a Joint Work Session with the City Council on February 26, 2019. The EDA then met again on April 11, 2019 to discuss the matter further. On April 11, 2019, the EDA recommended that Staff work with CBRE to revise the current contract. Key points of discussion included, but were not limited to the following.
A proposed contract with revised language is attached for review.
Additional Background
The City has been engaged in a contract with CBRE since January 28, 2014 to list and market City owned properties in the COR and other areas. The City and CBRE have executed multiple amendments to the contract with the latest being a one year contract from July 31, 2018-July 30, 2019. Staff has found CBRE agent Brian Pankratz to be available, engaged, knowledgeable and helpful when it comes to marketing city owned parcels. CBRE utilizes many proven marketing methods such as:
Having a company like CBRE market city properties to its broker community and clients has its advantages. CBRE has a good reputation within the broker community. The maintenance and updating of marketing materials by CBRE including, signage and MNCAR listings is convenient for Staff and access to current market data is helpful. Based on city records the City has closed on nine properties, with four more pending that CBRE has listed for the City since 2014. A closing is scheduled for May 3 for Parcel 6 (Muni Site).
Currently, the City has seventeen City owned properties listed with CBRE including seven under contract. Eleven of these properties are in the COR and the rest are scattered across the community.
In late 2018, Anoka County has added a regional economic development presence to Anoka County as presented to the EDA last year. The City of Ramsey is included in this partnership and has the opportunity to list its properties on MNCAR at a nominal cost. This is a feature is also provided by CBRE as part of its listing contract free of cost. Anoka County does not provide signage on site for marketing and does not have the reputation or experience of a CBRE in the broker community at this time. It is difficult to fully compare CBRE to the new Anoka County Regional Economic Development Partnership. CBRE is a proven industry leader, but there are some cost advantages of utilizing the MNCAR service that Anoka County can provide that reach the same audience in similar ways.
The EDA met in January 2019 and also discussed at a Joint Work Session with the City Council on February 26, 2019. The EDA then met again on April 11, 2019 to discuss the matter further. On April 11, 2019, the EDA recommended that Staff work with CBRE to revise the current contract. Key points of discussion included, but were not limited to the following.
- Removing parcels outside of the COR from the listing agreement
- Adding language that would reduce, or eliminate commission for leads that were not generated by CBRE (Clear-cut City leads, etc.)
A proposed contract with revised language is attached for review.
Additional Background
The City has been engaged in a contract with CBRE since January 28, 2014 to list and market City owned properties in the COR and other areas. The City and CBRE have executed multiple amendments to the contract with the latest being a one year contract from July 31, 2018-July 30, 2019. Staff has found CBRE agent Brian Pankratz to be available, engaged, knowledgeable and helpful when it comes to marketing city owned parcels. CBRE utilizes many proven marketing methods such as:
- Real Estate Signagesignage on site,
- Online listings such as MNCAR (internet) and
- Connection to the broker community.
Having a company like CBRE market city properties to its broker community and clients has its advantages. CBRE has a good reputation within the broker community. The maintenance and updating of marketing materials by CBRE including, signage and MNCAR listings is convenient for Staff and access to current market data is helpful. Based on city records the City has closed on nine properties, with four more pending that CBRE has listed for the City since 2014. A closing is scheduled for May 3 for Parcel 6 (Muni Site).
Currently, the City has seventeen City owned properties listed with CBRE including seven under contract. Eleven of these properties are in the COR and the rest are scattered across the community.
In late 2018, Anoka County has added a regional economic development presence to Anoka County as presented to the EDA last year. The City of Ramsey is included in this partnership and has the opportunity to list its properties on MNCAR at a nominal cost. This is a feature is also provided by CBRE as part of its listing contract free of cost. Anoka County does not provide signage on site for marketing and does not have the reputation or experience of a CBRE in the broker community at this time. It is difficult to fully compare CBRE to the new Anoka County Regional Economic Development Partnership. CBRE is a proven industry leader, but there are some cost advantages of utilizing the MNCAR service that Anoka County can provide that reach the same audience in similar ways.
The purpose of this case is to review the City's strategy for real estate management for City Owned Parcels.
The EDA met in January 2019 and also discussed at a Joint Work Session with the City Council on February 26, 2019. The EDA then met again on April 11, 2019 to discuss the matter further. On April 11, 2019, the EDA recommended that Staff work with CBRE to revise the current contract. Key points of discussion included, but were not limited to the following.
A proposed contract with revised language is attached for review.
Additional Background
The City has been engaged in a contract with CBRE since January 28, 2014 to list and market City owned properties in the COR and other areas. The City and CBRE have executed multiple amendments to the contract with the latest being a one year contract from July 31, 2018-July 30, 2019. Staff has found CBRE agent Brian Pankratz to be available, engaged, knowledgeable and helpful when it comes to marketing city owned parcels. CBRE utilizes many proven marketing methods such as:
Having a company like CBRE market city properties to its broker community and clients has its advantages. CBRE has a good reputation within the broker community. The maintenance and updating of marketing materials by CBRE including, signage and MNCAR listings is convenient for Staff and access to current market data is helpful. Based on city records the City has closed on nine properties, with four more pending that CBRE has listed for the City since 2014. A closing is scheduled for May 3 for Parcel 6 (Muni Site).
Currently, the City has seventeen City owned properties listed with CBRE including seven under contract. Eleven of these properties are in the COR and the rest are scattered across the community.
In late 2018, Anoka County has added a regional economic development presence to Anoka County as presented to the EDA last year. The City of Ramsey is included in this partnership and has the opportunity to list its properties on MNCAR at a nominal cost. This is a feature is also provided by CBRE as part of its listing contract free of cost. Anoka County does not provide signage on site for marketing and does not have the reputation or experience of a CBRE in the broker community at this time. It is difficult to fully compare CBRE to the new Anoka County Regional Economic Development Partnership. CBRE is a proven industry leader, but there are some cost advantages of utilizing the MNCAR service that Anoka County can provide that reach the same audience in similar ways.
The EDA met in January 2019 and also discussed at a Joint Work Session with the City Council on February 26, 2019. The EDA then met again on April 11, 2019 to discuss the matter further. On April 11, 2019, the EDA recommended that Staff work with CBRE to revise the current contract. Key points of discussion included, but were not limited to the following.
- Removing parcels outside of the COR from the listing agreement
- Adding language that would reduce, or eliminate commission for leads that were not generated by CBRE (Clear-cut City leads, etc.)
A proposed contract with revised language is attached for review.
Additional Background
The City has been engaged in a contract with CBRE since January 28, 2014 to list and market City owned properties in the COR and other areas. The City and CBRE have executed multiple amendments to the contract with the latest being a one year contract from July 31, 2018-July 30, 2019. Staff has found CBRE agent Brian Pankratz to be available, engaged, knowledgeable and helpful when it comes to marketing city owned parcels. CBRE utilizes many proven marketing methods such as:
- Real Estate Signagesignage on site,
- Online listings such as MNCAR (internet) and
- Connection to the broker community.
Having a company like CBRE market city properties to its broker community and clients has its advantages. CBRE has a good reputation within the broker community. The maintenance and updating of marketing materials by CBRE including, signage and MNCAR listings is convenient for Staff and access to current market data is helpful. Based on city records the City has closed on nine properties, with four more pending that CBRE has listed for the City since 2014. A closing is scheduled for May 3 for Parcel 6 (Muni Site).
Currently, the City has seventeen City owned properties listed with CBRE including seven under contract. Eleven of these properties are in the COR and the rest are scattered across the community.
In late 2018, Anoka County has added a regional economic development presence to Anoka County as presented to the EDA last year. The City of Ramsey is included in this partnership and has the opportunity to list its properties on MNCAR at a nominal cost. This is a feature is also provided by CBRE as part of its listing contract free of cost. Anoka County does not provide signage on site for marketing and does not have the reputation or experience of a CBRE in the broker community at this time. It is difficult to fully compare CBRE to the new Anoka County Regional Economic Development Partnership. CBRE is a proven industry leader, but there are some cost advantages of utilizing the MNCAR service that Anoka County can provide that reach the same audience in similar ways.
The purpose of this case is to review the City's strategy for real estate management for City Owned Parcels.
The EDA met in January 2019 and also discussed at a Joint Work Session with the City Council on February 26, 2019. The EDA then met again on April 11, 2019 to discuss the matter further. On April 11, 2019, the EDA recommended that Staff work with CBRE to revise the current contract. Key points of discussion included, but were not limited to the following.
A proposed contract with revised language is attached for review.
Additional Background
The City has been engaged in a contract with CBRE since January 28, 2014 to list and market City owned properties in the COR and other areas. The City and CBRE have executed multiple amendments to the contract with the latest being a one year contract from July 31, 2018-July 30, 2019. Staff has found CBRE agent Brian Pankratz to be available, engaged, knowledgeable and helpful when it comes to marketing city owned parcels. CBRE utilizes many proven marketing methods such as:
Having a company like CBRE market city properties to its broker community and clients has its advantages. CBRE has a good reputation within the broker community. The maintenance and updating of marketing materials by CBRE including, signage and MNCAR listings is convenient for Staff and access to current market data is helpful. Based on city records the City has closed on nine properties, with four more pending that CBRE has listed for the City since 2014. A closing is scheduled for May 3 for Parcel 6 (Muni Site).
Currently, the City has seventeen City owned properties listed with CBRE including seven under contract. Eleven of these properties are in the COR and the rest are scattered across the community.
In late 2018, Anoka County has added a regional economic development presence to Anoka County as presented to the EDA last year. The City of Ramsey is included in this partnership and has the opportunity to list its properties on MNCAR at a nominal cost. This is a feature is also provided by CBRE as part of its listing contract free of cost. Anoka County does not provide signage on site for marketing and does not have the reputation or experience of a CBRE in the broker community at this time. It is difficult to fully compare CBRE to the new Anoka County Regional Economic Development Partnership. CBRE is a proven industry leader, but there are some cost advantages of utilizing the MNCAR service that Anoka County can provide that reach the same audience in similar ways.
The EDA met in January 2019 and also discussed at a Joint Work Session with the City Council on February 26, 2019. The EDA then met again on April 11, 2019 to discuss the matter further. On April 11, 2019, the EDA recommended that Staff work with CBRE to revise the current contract. Key points of discussion included, but were not limited to the following.
- Removing parcels outside of the COR from the listing agreement
- Adding language that would reduce, or eliminate commission for leads that were not generated by CBRE (Clear-cut City leads, etc.)
A proposed contract with revised language is attached for review.
Additional Background
The City has been engaged in a contract with CBRE since January 28, 2014 to list and market City owned properties in the COR and other areas. The City and CBRE have executed multiple amendments to the contract with the latest being a one year contract from July 31, 2018-July 30, 2019. Staff has found CBRE agent Brian Pankratz to be available, engaged, knowledgeable and helpful when it comes to marketing city owned parcels. CBRE utilizes many proven marketing methods such as:
- Real Estate signs on site,
- Online listings such as MNCAR (internet) and
- Connection to the broker community.
Having a company like CBRE market city properties to its broker community and clients has its advantages. CBRE has a good reputation within the broker community. The maintenance and updating of marketing materials by CBRE including, signage and MNCAR listings is convenient for Staff and access to current market data is helpful. Based on city records the City has closed on nine properties, with four more pending that CBRE has listed for the City since 2014. A closing is scheduled for May 3 for Parcel 6 (Muni Site).
Currently, the City has seventeen City owned properties listed with CBRE including seven under contract. Eleven of these properties are in the COR and the rest are scattered across the community.
In late 2018, Anoka County has added a regional economic development presence to Anoka County as presented to the EDA last year. The City of Ramsey is included in this partnership and has the opportunity to list its properties on MNCAR at a nominal cost. This is a feature is also provided by CBRE as part of its listing contract free of cost. Anoka County does not provide signage on site for marketing and does not have the reputation or experience of a CBRE in the broker community at this time. It is difficult to fully compare CBRE to the new Anoka County Regional Economic Development Partnership. CBRE is a proven industry leader, but there are some cost advantages of utilizing the MNCAR service that Anoka County can provide that reach the same audience in similar ways.
The purpose of this case is to review the City's strategy for real estate management for City Owned Parcels.
The EDA met in January 2019 and also discussed at a Joint Work Session with the City Council on February 26, 2019. The EDA then met again on April 11, 2019 to discuss the matter further. On April 11, 2019, the EDA recommended that Staff work with CBRE to revise the current contract. Key points of discussion included, but were not limited to the following.
A proposed contract with revised language is attached for review.
Additional Background
The City has been engaged in a contract with CBRE since January 28, 2014 to list and market City owned properties in the COR and other areas. The City and CBRE have executed multiple amendments to the contract with the latest being a one year contract from July 31, 2018-July 30, 2019. Staff has found CBRE agent Brian Pankratz to be available, engaged, knowledgeable and helpful when it comes to marketing city owned parcels. CBRE utilizes many proven marketing methods such as:
Having a company like CBRE market city properties to its broker community and clients has its advantages. CBRE has a good reputation within the broker community. The maintenance and updatin
The EDA met in January 2019 and also discussed at a Joint Work Session with the City Council on February 26, 2019. The EDA then met again on April 11, 2019 to discuss the matter further. On April 11, 2019, the EDA recommended that Staff work with CBRE to revise the current contract. Key points of discussion included, but were not limited to the following.
- Removing parcels outside of the COR from the listing agreement
- Adding language that would reduce, or eliminate commission for leads that were not generated by CBRE (Clear-cut City leads, etc.)
A proposed contract with revised language is attached for review.
Additional Background
The City has been engaged in a contract with CBRE since January 28, 2014 to list and market City owned properties in the COR and other areas. The City and CBRE have executed multiple amendments to the contract with the latest being a one year contract from July 31, 2018-July 30, 2019. Staff has found CBRE agent Brian Pankratz to be available, engaged, knowledgeable and helpful when it comes to marketing city owned parcels. CBRE utilizes many proven marketing methods such as:
- Real Estate signs on site,
- Online listings such as MNCAR (internet) and
- Connection to the broker community.
Having a company like CBRE market city properties to its broker community and clients has its advantages. CBRE has a good reputation within the broker community. The maintenance and updatin
Notification:
Notification is not required.
Observations/Alternatives:
The listing agreement is proposed to be extended 1 year to January 31, 2024. All other terms and condition remain the same as July 10, 2019 Listing Agreement The following changes (and current status) have been made to the properties on the attached listing agreement below:
Alternatives include, but are not limited to the following:
- Parcel 50a - 28-32-25-41-0024
- Parcel 47f -
- Parcel 46 - 28-32-25-22-0058 -Multiple Developers (Housing, Apartments, Single Family Housing) have expressed sincere interest in site (Working on Wetland information and COR Infrastructure project).
- Parcel 42a -7994 Sunwood Drive - 28-32-25-23-0012 (LOI Convenience Grover)
- Parcel 42b - 7990 Sunwood Drive - 28-32-25-23-0011 (Pt LOI Convenience Grocer)
- Parcel 42c - 7992 Sunwood Drive- 28-32-25-23-0013 (LOI Convenience Grocer)
- Parcel 48a -28-32-25-24-0017 (Pt. COR Trust Bank PA)
- Parcel 48c - 28-32-25-31-0025 (Muni Plaza Retail - Site on Market)
Alternatives include, but are not limited to the following:
- Recommendation to City Council approval of Listing Agreement as presented. (Recommended)
- Recommendation to City Council approval of Listing Agreement with changes.
- Something else.
Alternatives include, but are not limited to the following:
If approved, revisions would take effect August 1, 2019.
- Continue Contract with CBRE with existing language.
- Amend Contract with CBRE on the number of properties listed for specific properties, commission, look-back period, or other standards.
- Seek proposals from other real estate brokers.
- List and market properties utilizing City Staff.
- The following parcels have been removed from the listing contract dated June 7, 2018:
- Parcel 8 - Amoco Site - 25-32-25-43-0043
- Parcel 11- Water Tower site at 167th - 11-32-25-43-0004
- Parcel 37a - 14165 Ramsey Blvd NE - 27-32-25-33-0006
- Parcel 40 - Bookstore Site - 34-32-25-13-0005
- Parcel 51 - Cottages at the COR 28-32-25-14-0094 (SOLD)
- Parcel 52 - (Remnant end cap / keyhole) 28-32-25-13-0034, 28-32-25-24-0005
- Pt Parcel 45 - Remnant south of 146th Ave NW - 29-32-25-14-0013
- Parcel 6 - Old Muni Site - 28-32-25-41-0081 (Closing schedule for May 3, 2019)
- The Commission Schedule is outlined in Paragraph 10 (a)(b). Leads generated by CBRE will receive a commission during the term of the contract PLUS an additional 180 days after the contract expires for any prospect CBRE had negotiated with during the term of the contract (common in real estate contracts). Additional specifics can be found in the attached contract.
- Cancelation provisions found in Paragraph 19. Either party can cancel the Listing Agreement after 6 months with 30 day written notice.
- CBRE is entitled to a Minimum Fee. See Exhibit A, Section 3 and 4 3. Broker (CBRE) shall receive a minimum fee generally as follows:
- $1.50 per gross square foot for the sale of any industrial or office land
- $5,000.00 for the sale of any residential parcel of land
- $5,000.00 for the sale of any residential parcel of land greater than $45,000
- $3,500.00 for the sale of any residential parcel of land less than or equal to $45,000
- NEW: City Generated Sales Lead: If a potential prospect/buyer is generated by the City of Ramsey with no prior contact or discussions with/from CBRE than the commission will be reduced to 3% of the gross sales price to calculate commissions. If potential buyer generated by City of Ramsey has a cooperative broker, there will not be a fee reduction.
- Standard Commission found in Exhibit A. As to sales of real property, CBRE’s commission shall be five percent (5%) of the gross sales price. If a cooperating broker or salesperson procures the sale, the commission will be seven percent (7%) of the gross sales price.
If approved, revisions would take effect August 1, 2019.
Alternatives include, but are not limted to the following:
If approved, revisions would take effect August 1, 2019.
- Continue Contract with CBRE with existing language.
- Amend Contract with CBRE on the number of properties listed for specific properties, commission, look-back period, or other standards.
- Seek proposals from other real estate brokers.
- List and market properties utilizing City Staff.
- The following parcels have been removed from the listing contract dated June 7, 2018:
- Parcel 8 - Amoco Site - 25-32-25-43-0043
- Parcel 11- Water Tower site at 167th - 11-32-25-43-0004
- Parcel 37a - 14165 Ramsey Blvd NE - 27-32-25-33-0006
- Parcel 40 - Bookstore Site - 34-32-25-13-0005
- Parcel 51 - Cottages at the COR 28-32-25-14-0094 (SOLD)
- Parcel 52 - (Remnant end cap / keyhole) 28-32-25-13-0034, 28-32-25-24-0005
- Pt Parcel 45 - Remnant south of 146th Ave NW - 29-32-25-14-0013
- Parcel 6 - Old Muni Site - 28-32-25-41-0081 (Closing schedule for May 3, 2019)
- The Commission Schedule is outlined in Paragraph 10 (a)(b). Leads generated by CBRE will receive a commission during the term of the contract PLUS an additional 180 days after the contract expires for any prospect CBRE had negotiated with during the term of the contract (common in real estate contracts). Additional specifics can be found in the attached contract.
- Cancelation provisions found in Paragraph 19. Either party can cancel the Listing Agreement after 6 months with 30 day written notice.
- CBRE is entited to a Minimum Fee. See Exhibit A, Section 3 and 4 3. Broker (CBRE) shall receive a minimum fee generally as follows:
- $1.50 per gross square foot for the sale of any industrial or office land
- $5,000.00 for the sale of any residential parcel of land
- $5,000.00 for the sale of any residential parcel of land greater than $45,000
- $3,500.00 for the sale of any residential parcel of land less than or equal to $45,000
- NEW: City Generated Sales Lead: If a potential prospect/buyer is generated by the City of Ramsey with no prior contact or discussions with/from CBRE than the commission will be reduced to 3% of the gross sales price to calculate commissions. If potential buyer generated by City of Ramsey has a cooperative broker, there will not be a fee reduction.
- Standard Commission found in Exhibit A. As to sales of real property, CBRE’s commission shall be five percent (5%) of the gross sales price. If a cooperating broker or salesperson procures the sale, the commission will be seven percent (7%) of the gross sales price.
If approved, revisions would take effect August 1, 2019.
Alternatives include, but are not limted to the following:
If approved, revisions would take effect August 1, 2019.
- Continue Contract with CBRE with existing language.
- Amend Contract with CBRE on the number of properties listed for specific properties, commission, look-back period, or other standards.
- Seek proposals from other real estate brokers.
- List and market properties utilizing City Staff.
- The following parcels have been removed from the listing contract dated June 7, 2018:
- Parcel 8 - Amoco Site - 25-32-25-43-0043
- Parcel 11- Water Tower site at 167th - 11-32-25-43-0004
- Parcel 37a - 14165 Ramsey Blvd NE - 27-32-25-33-0006
- Parcel 40 - Bookstore Site - 34-32-25-13-0005
- Parcel 51 - Cottages at the COR 28-32-25-14-0094 (SOLD)
- Parcel 52 - (Remnant end cap / keyhole) 28-32-25-13-0034, 28-32-25-24-0005
- Pt Parcel 45 - Remnant south of 146th Ave NW - 29-32-25-14-0013
- Parcel 6 - Old Muni Site - 28-32-25-41-0081 (Closing schedule for May 3, 2019)
- The Commission Schedule is outlined in Paragraph 10 (a)(b). Leads generated by CBRE will receive a commission during the term of the contract PLUS an additional 180 days after the contract expires for any prospect CBRE had negotiated with during the term of the contract (common in real estate contracts). Additional specifics can be found in the attached contract.
- Cancelation provisions found in Paragraph 19. Either party can cancel the Listing Agreement after 6 months with 30 day written notice.
- CBRE is entited to a Minimum Fee. See Exhibit A, Section 3 and 4 3. Broker (CBRE) shall receive a minimum fee generally as follows:
- $1.50 per gross square foot for the sale of any industrial or office land
- $5,000.00 for the sale of any residential parcel of land
- $5,000.00 for the sale of any residential parcel of land greater than $45,000
- $3,500.00 for the sale of any residential parcel of land less than or equal to $45,000
- NEW: City Generated Sales Lead: If a potential prospect/buyer is generated by the City of Ramsey with no prior contact or discussions with/from CBRE than the commission will be reduced to 3% of the gross sales price to calculate commissions. If potential buyer generated by City of Ramsey has a cooperative broker, there will not be a fee reduction.
- Standard Commission found in Exhibit A. As to sales of real property, CBRE’s commission shall be five percent (5%) of the gross sales price. If a cooperating broker or salesperson procures the sale, the commission will be seven percent (7%) of the gross sales price.
If approved, revisions would take effect August 1, 2019.
Alternatives include, but are not limited to the following:
If approved, revisions would take effect August 1, 2019.
- Continue Contract with CBRE with existing language.
- Amend Contract with CBRE on the number of properties listed for specific properties, commission, look-back period, or other standards.
- Seek proposals from other real estate brokers.
- List and market properties utilizing City Staff.
- The following parcels have been removed from the listing contract dated June 7, 2018:
- Parcel 8 - Amoco Site - 25-32-25-43-0043
- Parcel 11- Water Tower site at 167th - 11-32-25-43-0004
- Parcel 37a - 14165 Ramsey Blvd NE - 27-32-25-33-0006
- Parcel 40 - Bookstore Site - 34-32-25-13-0005
- Parcel 51 - Cottages at the COR 28-32-25-14-0094 (SOLD)
- Parcel 52 - (Remnant end cap / keyhole) 28-32-25-13-0034, 28-32-25-24-0005
- Pt Parcel 45 - Remnant south of 146th Ave NW - 29-32-25-14-0013
- Parcel 6 - Old Muni Site - 28-32-25-41-0081 (Closing schedule for May 3, 2019)
- The Commission Schedule is outlined in Paragraph 10 (a)(b). Leads generated by CBRE will receive a commission during the term of the contract PLUS an additional 180 days after the contract expires for any prospect CBRE had negotiated with during the term of the contract (common in real estate contracts). Additional specifics can be found in the attached contract.
- Cancelation provisions found in Paragraph 19. Either party can cancel the Listing Agreement after 6 months with 30 day written notice.
- CBRE is entitled to a Minimum Fee. See Exhibit A, Section 3 and 4 3. Broker (CBRE) shall receive a minimum fee generally as follows:
- $1.50 per gross square foot for the sale of any industrial or office land
- $5,000.00 for the sale of any residential parcel of land
- $5,000.00 for the sale of any residential parcel of land greater than $45,000
- $3,500.00 for the sale of any residential parcel of land less than or equal to $45,000
- NEW: City Generated Sales Lead: If a potential prospect/buyer is generated by the City of Ramsey with no prior contact or discussions with/from CBRE than the commission will be reduced to 3% of the gross sales price to calculate commissions. If potential buyer generated by City of Ramsey has a cooperative broker, there will not be a fee reduction.
- Standard Commission found in Exhibit A. As to sales of real property, CBRE’s commission shall be five percent (5%) of the gross sales price. If a cooperating broker or salesperson procures the sale, the commission will be seven percent (7%) of the gross sales price.
If approved, revisions would take effect August 1, 2019.
Alternatives include, but are not limited to the following:
If approved, revisions would take effect August 1, 2019.
- Continue Contract with CBRE with existing language.
- Amend Contract with CBRE on the number of properties listed for specific properties, commission, look-back period, or other standards.
- Seek proposals from other real estate brokers.
- List and market properties utilizing City Staff.
- The following parcels have been removed from the listing contract dated June 7, 2018:
- Parcel 8 - Amoco Site - 25-32-25-43-0043
- Parcel 11- Water Tower site at 167th - 11-32-25-43-0004
- Parcel 37a - 14165 Ramsey Blvd NE - 27-32-25-33-0006
- Parcel 40 - Bookstore Site - 34-32-25-13-0005
- Parcel 51 - Cottages at the COR 28-32-25-14-0094 (SOLD)
- Parcel 52 - (Remnant end cap / keyhole) 28-32-25-13-0034, 28-32-25-24-0005
- Pt Parcel 45 - Remnant south of 146th Ave NW - 29-32-25-14-0013
- Parcel 6 - Old Muni Site - 28-32-25-41-0081 (Closing schedule for May 3, 2019)
- The Commission Schedule is outlined in Paragraph 10 (a)(b). Leads generated by CBRE will receive a commission during the term of the contract PLUS an additional 180 days after the contract expires for any prospect CBRE had negotiated with during the term of the contract (common in real estate contracts). Additional specifics can be found in the attached contract.
- Cancelation provisions found in Paragraph 19. Either party can cancel the Listing Agreement after 6 months with 30 day written notice.
- CBRE is entitled to a Minimum Fee. See Exhibit A, Section 3 and 4 3. Broker (CBRE) shall receive a minimum fee generally as follows:
- $1.50 per gross square foot for the sale of any industrial or office land
- $5,000.00 for the sale of any residential parcel of land
- $5,000.00 for the sale of any residential parcel of land greater than $45,000
- $3,500.00 for the sale of any residential parcel of land less than or equal to $45,000
- NEW: City Generated Sales Lead: If a potential prospect/buyer is generated by the City of Ramsey with no prior contact or discussions with/from CBRE than the commission will be reduced to 3% of the gross sales price to calculate commissions. If potential buyer generated by City of Ramsey has a cooperative broker, there will not be a fee reduction.
- Standard Commission found in Exhibit A. As to sales of real property, CBRE’s commission shall be five percent (5%) of the gross sales price. If a cooperating broker or salesperson procures the sale, the commission will be seven percent (7%) of the gross sales price.
If approved, revisions would take effect August 1, 2019.
Alternatives include, but are not limted to the following:
If approved, revisions would take effect August 1, 2019.
- Continue Contract with CBRE with existing language.
- Amend Contract with CBRE on the number of properties listed for specific properties, commission, look-back period, or other standards.
- Seek proposals from other real estate brokers.
- List and market properties utilizing City Staff.
- The following parcels have been removed from the listing contract dated June 7, 2018:
- Parcel 8 - Amoco Site - 25-32-25-43-0043
- Parcel 11- Water Tower site at 167th - 11-32-25-43-0004
- Parcel 37a - 14165 Ramsey Blvd NE - 27-32-25-33-0006
- Parcel 40 - Bookstore Site - 34-32-25-13-0005
- Parcel 51 - Cottages at the COR 28-32-25-14-0094 (SOLD)
- Parcel 52 - (Remnant end cap / keyhole) 28-32-25-13-0034, 28-32-25-24-0005
- Pt Parcel 45 - Remnant south of 146th Ave NW - 29-32-25-14-0013
- Parcel 6 - Old Muni Site - 28-32-25-41-0081 (Closing schedule for May 3, 2019)
- The Commission Schedule is outlined in Paragraph 10 (a)(b). Leads generated by CBRE will receive a commission during the term of the contract PLUS an additional 180 days after the contract expires for any prospect CBRE had negotiated with during the term of the contract (common in real estate contracts). Additional specifics can be found in the attached contract.
- Cancelation provisions found in Paragraph 19. Either party can cancel the Listing Agreement after 6 months with 30 day written notice.
- CBRE is entited to a Minimum Fee. See Exhibit A, Section 3 and 4 3. Broker (CBRE) shall receive a minimum fee generally as follows:
- $1.50 per gross square foot for the sale of any industrial or office land
- $5,000.00 for the sale of any residential parcel of land
- $5,000.00 for the sale of any residential parcel of land greater than $45,000
- $3,500.00 for the sale of any residential parcel of land less than or equal to $45,000
- NEW: City Generated Sales Lead: If a potential prospect/buyer is generated by the City of Ramsey with no prior contact or discussions with/from CBRE than the commission will be reduced to 3% of the gross sales price to calculate commissions. If potential buyer generated by City of Ramsey has a cooperative broker, there will not be a fee reduction.
- Standard Commission found in Exhibit A. As to sales of real property, CBRE’s commission shall be five percent (5%) of the gross sales price. If a cooperating broker or salesperson procures the sale, the commission will be seven percent (7%) of the gross sales price.
If approved, revisions would take effect August 1, 2019.
Alternatives include, but are not limted to the following:
If approved, revisions would take effect August 1, 2019.
- Continue Contract with CBRE with existing language.
- Amend Contract with CBRE on the number of properties listed for specific properties, commission, look-back period, or other standards.
- Seek proposals from other real estate brokers.
- List and market properties utilizing City Staff.
- The following parcels have been removed from the listing contract dated June 7, 2018:
- Parcel 8 - Amoco Site - 25-32-25-43-0043
- Parcel 11- Water Tower site at 167th - 11-32-25-43-0004
- Parcel 37a - 14165 Ramsey Blvd NE - 27-32-25-33-0006
- Parcel 40 - Bookstore Site - 34-32-25-13-0005
- Parcel 51 - Cottages at the COR 28-32-25-14-0094 (SOLD)
- Parcel 52 - (Remnant end cap / keyhole) 28-32-25-13-0034, 28-32-25-24-0005
- Pt Parcel 45 - Remnant south of 146th Ave NW - 29-32-25-14-0013
- Parcel 6 - Old Muni Site - 28-32-25-41-0081 (Closing schedule for May 3, 2019)
- The Commission Schedule is outlined in Paragraph 10 (a)(b). Leads generated by CBRE will receive a commission during the term of the contract PLUS an additional 180 days after the contract expires for any prospect CBRE had negotiated with during the term of the contract (common in real estate contracts). Additional specifics can be found in the attached contract.
- Cancelation provisions found in Paragraph 19. Either party can cancel the Listing Agreement after 6 months with 30 day written notice.
- CBRE is entited to a Minimum Fee. See Exhibit A, Section 3 and 4 3. Broker (CBRE) shall receive a minimum fee generally as follows:
- $1.50 per gross square foot for the sale of any industrial or office land
- $5,000.00 for the sale of any residential parcel of land
- $5,000.00 for the sale of any residential parcel of land greater than $45,000
- $3,500.00 for the sale of any residential parcel of land less than or equal to $45,000
- NEW: City Generated Sales Lead: If a potential prospect/buyer is generated by the City of Ramsey with no prior contact or discussions with/from CBRE than the commission will be reduced to 3% of the gross sales price to calculate commissions. If potential buyer generated by City of Ramsey has a cooperative broker, there will not be a fee reduction.
- Standard Commission found in Exhibit A. As to sales of real property, CBRE’s commission shall be five percent (5%) of the gross sales price. If a cooperating broker or salesperson procures the sale, the commission will be seven percent (7%) of the gross sales price.
If approved, revisions would take effect August 1, 2019.
Alternatives include, but are not limited to the following:
If approved, revisions would take effect August 1, 2019.
- Continue Contract with CBRE with existing language.
- Amend Contract with CBRE on the number of properties listed for specific properties, commission, look-back period, or other standards.
- Seek proposals from other real estate brokers.
- List and market properties utilizing City Staff.
- The following parcels have been removed from the listing contract dated June 7, 2018:
- Parcel 8 - Amoco Site - 25-32-25-43-0043
- Parcel 11- Water Tower site at 167th - 11-32-25-43-0004
- Parcel 37a - 14165 Ramsey Blvd NE - 27-32-25-33-0006
- Parcel 40 - Bookstore Site - 34-32-25-13-0005
- Parcel 51 - Cottages at the COR 28-32-25-14-0094 (SOLD)
- Parcel 52 - (Remnant end cap / keyhole) 28-32-25-13-0034, 28-32-25-24-0005
- Pt Parcel 45 - Remnant south of 146th Ave NW - 29-32-25-14-0013
- Parcel 6 - Old Muni Site - 28-32-25-41-0081 (Closing schedule for May 3, 2019)
- The Commission Schedule is outlined in Paragraph 10 (a)(b). Leads generated by CBRE will receive a commission during the term of the contract PLUS an additional 180 days after the contract expires for any prospect CBRE had negotiated with during the term of the contract (common in real estate contracts). Additional specifics can be found in the attached contract.
- Cancelation provisions found in Paragraph 19. Either party can cancel the Listing Agreement after 6 months with 30 day written notice.
- CBRE is entitled to a Minimum Fee. See Exhibit A, Section 3 and 4 3. Broker (CBRE) shall receive a minimum fee generally as follows:
- $1.50 per gross square foot for the sale of any industrial or office land
- $5,000.00 for the sale of any residential parcel of land
- $5,000.00 for the sale of any residential parcel of land greater than $45,000
- $3,500.00 for the sale of any residential parcel of land less than or equal to $45,000
- NEW: City Generated Sales Lead: If a potential prospect/buyer is generated by the City of Ramsey with no prior contact or discussions with/from CBRE than the commission will be reduced to 3% of the gross sales price to calculate commissions. If potential buyer generated by City of Ramsey has a cooperative broker, there will not be a fee reduction.
- Standard Commission found in Exhibit A. As to sales of real property, CBRE’s commission shall be five percent (5%) of the gross sales price. If a cooperating broker or salesperson procures the sale, the commission will be seven percent (7%) of the gross sales price.
If approved, revisions would take effect August 1, 2019.
Alternatives include, but are not limited to the following:
If approved, revisions would take effect August 1, 2019.
- Continue Contract with CBRE with existing language.
- Amend Contract with CBRE on the number of properties listed for specific properties, commission, look-back period, or other standards.
- Seek proposals from other real estate brokers.
- List and market properties utilizing City Staff.
- The following parcels have been removed from the listing contract dated June 7, 2018:
- Parcel 8 - Amoco Site - 25-32-25-43-0043
- Parcel 11- Water Tower site at 167th - 11-32-25-43-0004
- Parcel 37a - 14165 Ramsey Blvd NE - 27-32-25-33-0006
- Parcel 40 - Bookstore Site - 34-32-25-13-0005
- Parcel 51 - Cottages at the COR 28-32-25-14-0094 (SOLD)
- Parcel 52 - (Remnant end cap / keyhole) 28-32-25-13-0034, 28-32-25-24-0005
- Pt Parcel 45 - Remnant south of 146th Ave NW - 29-32-25-14-0013
- Parcel 6 - Old Muni Site - 28-32-25-41-0081 (Closing schedule for May 3, 2019)
- The Commission Schedule is outlined in Paragraph 10 (a)(b). Leads generated by CBRE will receive a commission during the term of the contract PLUS an additional 180 days after the contract expires for any prospect CBRE had negotiated with during the term of the contract (common in real estate contracts). Additional specifics can be found in the attached contract.
- Cancelation provisions found in Paragraph 19. Either party can cancel the Listing Agreement after 6 months with 30 day written notice.
- CBRE is entitled to a Minimum Fee. See Exhibit A, Section 3 and 4 3. Broker (CBRE) shall receive a minimum fee generally as follows:
- $1.50 per gross square foot for the sale of any industrial or office land
- $5,000.00 for the sale of any residential parcel of land
- $5,000.00 for the sale of any residential parcel of land greater than $45,000
- $3,500.00 for the sale of any residential parcel of land less than or equal to $45,000
- NEW: City Generated Sales Lead: If a potential prospect/buyer is generated by the City of Ramsey with no prior contact or discussions with/from CBRE than the commission will be reduced to 3% of the gross sales price to calculate commissions. If potential buyer generated by City of Ramsey has a cooperative broker, there will not be a fee reduction.
- Standard Commission found in Exhibit A. As to sales of real property, CBRE’s commission shall be five percent (5%) of the gross sales price. If a cooperating broker or salesperson procures the sale, the commission will be seven percent (7%) of the gross sales price.
If approved, revisions would take effect August 1, 2019.
Alternatives include, but are not limted to the following:
If approved, revisions would take effect August 1, 2019.
- Continue Contract with CBRE with existing language.
- Amend Contract with CBRE on the number of properties listed for specific properties, commission, look-back period, or other standards.
- Seek proposals from other real estate brokers.
- List and market properties utilizing City Staff.
- The following parcels have been removed from the listing contract dated June 7, 2018:
- Parcel 8 - Amoco Site - 25-32-25-43-0043
- Parcel 11- Water Tower site at 167th - 11-32-25-43-0004
- Parcel 37a - 14165 Ramsey Blvd NE - 27-32-25-33-0006
- Parcel 40 - Bookstore Site - 34-32-25-13-0005
- Parcel 51 - Cottages at the COR 28-32-25-14-0094 (SOLD)
- Parcel 52 - (Remnant end cap / keyhole) 28-32-25-13-0034, 28-32-25-24-0005
- Pt Parcel 45 - Remnant south of 146th Ave NW - 29-32-25-14-0013
- Parcel 6 - Old Muni Site - 28-32-25-41-0081 (Closing schedule for May 3, 2019)
- The Commission Schedule is outlined in Paragraph 10 (a)(b). Leads generated by CBRE will receive a commission during the term of the contract PLUS an additional 180 days after the contract expires for any prospect CBRE had negotiated with during the term of the contract (common in real estate contracts). Additional specifics can be found in the attached contract.
- Cancelation provisions found in Paragraph 19. Either party can cancel the Listing Agreement after 6 months with 30 day written notice.
- CBRE is entited to a Minimum Fee. See Exhibit A, Section 3 and 4 3. Broker (CBRE) shall receive a minimum fee generally as follows:
- $1.50 per gross square foot for the sale of any industrial or office land
- $5,000.00 for the sale of any residential parcel of land
- $5,000.00 for the sale of any residential parcel of land greater than $45,000
- $3,500.00 for the sale of any residential parcel of land less than or equal to $45,000
- NEW: City Generated Sales Lead: If a potential prospect/buyer is generated by the City of Ramsey with no prior contact or discussions with/from CBRE than the commission will be reduced to 3% of the gross sales price to calculate commissions. If potential buyer generated by City of Ramsey has a cooperative broker, there will not be a fee reduction.
- Standard Commission found in Exhibit A. As to sales of real property, CBRE’s commission shall be five percent (5%) of the gross sales price. If a cooperating broker or salesperson procures the sale, the commission will be seven percent (7%) of the gross sales price.
If approved, revisions would take effect August 1, 2019.
Alternatives include, but are not limited to the following:
If approved, revisions would take effect August 1, 2019.
- Continue Contract with CBRE with existing language.
- Amend Contract with CBRE on the number of properties listed for specific properties, commission, look-back period, or other standards.
- Seek proposals from other real estate brokers.
- List and market properties utilizing City Staff.
- The following parcels have been removed from the listing contract dated June 7, 2018:
- Parcel 8 - Amoco Site - 25-32-25-43-0043
- Parcel 11- Water Tower site at 167th - 11-32-25-43-0004
- Parcel 37a - 14165 Ramsey Blvd NE - 27-32-25-33-0006
- Parcel 40 - Bookstore Site - 34-32-25-13-0005
- Parcel 51 - Cottages at the COR 28-32-25-14-0094 (SOLD)
- Parcel 52 - (Remnant end cap / keyhole) 28-32-25-13-0034, 28-32-25-24-0005
- Pt Parcel 45 - Remnant south of 146th Ave NW - 29-32-25-14-0013
- Parcel 6 - Old Muni Site - 28-32-25-41-0081 (Closing schedule for May 3, 2019)
- The Commission Schedule is outlined in Paragraph 10 (a)(b). Leads generated by CBRE will receive a commission during the term of the contract PLUS an additional 180 days after the contract expires for any prospect CBRE had negotiated with during the term of the contract (common in real estate contracts). Additional specifics can be found in the attached contract.
- Cancelation provisions found in Paragraph 19. Either party can cancel the Listing Agreement after 6 months with 30 day written notice.
- CBRE is entitled to a Minimum Fee. See Exhibit A, Section 3 and 4 3. Broker (CBRE) shall receive a minimum fee generally as follows:
- $1.50 per gross square foot for the sale of any industrial or office land
- $5,000.00 for the sale of any residential parcel of land
- $5,000.00 for the sale of any residential parcel of land greater than $45,000
- $3,500.00 for the sale of any residential parcel of land less than or equal to $45,000
- NEW: City Generated Sales Lead: If a potential prospect/buyer is generated by the City of Ramsey with no prior contact or discussions with/from CBRE than the commission will be reduced to 3% of the gross sales price to calculate commissions. If potential buyer generated by City of Ramsey has a cooperative broker, there will not be a fee reduction.
- Standard Commission found in Exhibit A. As to sales of real property, CBRE’s commission shall be five percent (5%) of the gross sales price. If a cooperating broker or salesperson procures the sale, the commission will be seven percent (7%) of the gross sales price.
If approved, revisions would take effect August 1, 2019.
Alternatives include, but are not limited to the following:
If approved, revisions would take effect August 1, 2019.
- Continue Contract with CBRE with existing language.
- Amend Contract with CBRE on the number of properties listed for specific properties, commission, look-back period, or other standards.
- Seek proposals from other real estate brokers.
- List and market properties utilizing City Staff.
- The following parcels have been removed from the listing contract dated June 7, 2018:
- Parcel 8 - Amoco Site - 25-32-25-43-0043
- Parcel 11- Water Tower site at 167th - 11-32-25-43-0004
- Parcel 37a - 14165 Ramsey Blvd NE - 27-32-25-33-0006
- Parcel 40 - Bookstore Site - 34-32-25-13-0005
- Parcel 51 - Cottages at the COR 28-32-25-14-0094 (SOLD)
- Parcel 52 - (Remnant end cap / keyhole) 28-32-25-13-0034, 28-32-25-24-0005
- Pt Parcel 45 - Remnant south of 146th Ave NW - 29-32-25-14-0013
- Parcel 6 - Old Muni Site - 28-32-25-41-0081 (Closing schedule for May 3, 2019)
- The Commission Schedule is outlined in Paragraph 10 (a)(b). Leads generated by CBRE will receive a commission during the term of the contract PLUS an additional 180 days after the contract expires for any prospect CBRE had negotiated with during the term of the contract (common in real estate contracts). Additional specifics can be found in the attached contract.
- Cancelation provisions found in Paragraph 19. Either party can cancel the Listing Agreement after 6 months with 30 day written notice.
- CBRE is entitled to a Minimum Fee. See Exhibit A, Section 3 and 4 3. Broker (CBRE) shall receive a minimum fee generally as follows:
- $1.50 per gross square foot for the sale of any industrial or office land
- $5,000.00 for the sale of any residential parcel of land
- $5,000.00 for the sale of any residential parcel of land greater than $45,000
- $3,500.00 for the sale of any residential parcel of land less than or equal to $45,000
- NEW: City Generated Sales Lead: If a potential prospect/buyer is generated by the City of Ramsey with no prior contact or discussions with/from CBRE than the commission will be reduced to 3% of the gross sales price to calculate commissions. If potential buyer generated by City of Ramsey has a cooperative broker, there will not be a fee reduction.
- Standard Commission found in Exhibit A. As to sales of real property, CBRE’s commission shall be five percent (5%) of the gross sales price. If a cooperating broker or salesperson procures the sale, the commission will be seven percent (7%) of the gross sales price.
If approved, revisions would take effect August 1, 2019.
Alternatives include, but are not limted to the following:
If approved, revisions would take effect August 1, 2019.
- Continue Contract with CBRE with existing language.
- Amend Contract with CBRE on the number of properties listed for specific properties, commission, look-back period, or other standards.
- Seek proposals from other real estate brokers.
- List and market properties utilizing City Staff.
- The following parcels have been removed from the listing contract dated June 7, 2018:
- Parcel 8 - Amoco Site - 25-32-25-43-0043
- Parcel 11- Water Tower site at 167th - 11-32-25-43-0004
- Parcel 37a - 14165 Ramsey Blvd NE - 27-32-25-33-0006
- Parcel 40 - Bookstore Site - 34-32-25-13-0005
- Parcel 51 - Cottages at the COR 28-32-25-14-0094 (SOLD)
- Parcel 52 - (Remnant end cap / keyhole) 28-32-25-13-0034, 28-32-25-24-0005
- Pt Parcel 45 - Remnant south of 146th Ave NW - 29-32-25-14-0013
- Parcel 6 - Old Muni Site - 28-32-25-41-0081 (Closing schedule for May 3, 2019)
- The Commission Schedule is outlined in Paragraph 10 (a)(b). Leads generated by CBRE will receive a commission during the term of the contract PLUS an additional 180 days after the contract expires for any prospect CBRE had negotiated with during the term of the contract (common in real estate contracts). Additional specifics can be found in the attached contract.
- Cancelation provisions found in Paragraph 19. Either party can cancel the Listing Agreement after 6 months with 30 day written notice.
- CBRE is entited to a Minimum Fee. See Exhibit A, Section 3 and 4 3. Broker (CBRE) shall receive a minimum fee generally as follows:
- $1.50 per gross square foot for the sale of any industrial or office land
- $5,000.00 for the sale of any residential parcel of land
- $5,000.00 for the sale of any residential parcel of land greater than $45,000
- $3,500.00 for the sale of any residential parcel of land less than or equal to $45,000
- NEW: City Generated Sales Lead: If a potential prospect/buyer is generated by the City of Ramsey with no prior contact or discussions with/from CBRE than the commission will be reduced to 3% of the gross sales price to calculate commissions. If potential buyer generated by City of Ramsey has a cooperative broker, there will not be a fee reduction.
- Standard Commission found in Exhibit A. As to sales of real property, CBRE’s commission shall be five percent (5%) of the gross sales price. If a cooperating broker or salesperson procures the sale, the commission will be seven percent (7%) of the gross sales price.
If approved, revisions would take effect August 1, 2019.
Alternatives include, but are not limted to the following:
If approved, revisions would take effect August 1, 2019.
- Continue Contract with CBRE with existing language.
- Amend Contract with CBRE on the number of properties listed for specific properties, commission, look-back period, or other standards.
- Seek proposals from other real estate brokers.
- List and market properties utilizing City Staff.
- The following parcels have been removed from the listing contract dated June 7, 2018:
- Parcel 8 - Amoco Site - 25-32-25-43-0043
- Parcel 11- Water Tower site at 167th - 11-32-25-43-0004
- Parcel 37a - 14165 Ramsey Blvd NE - 27-32-25-33-0006
- Parcel 40 - Bookstore Site - 34-32-25-13-0005
- Parcel 51 - Cottages at the COR 28-32-25-14-0094 (SOLD)
- Parcel 52 - (Remnant end cap / keyhole) 28-32-25-13-0034, 28-32-25-24-0005
- Pt Parcel 45 - Remnant south of 146th Ave NW - 29-32-25-14-0013
- Parcel 6 - Old Muni Site - 28-32-25-41-0081 (Closing schedule for May 3, 2019)
- The Commission Schedule is outlined in Paragraph 10 (a)(b). Leads generated by CBRE will receive a commission during the term of the contract PLUS an additional 180 days after the contract expires for any prospect CBRE had negotiated with during the term of the contract (common in real estate contracts). Additional specifics can be found in the attached contract.
- Cancelation provisions found in Paragraph 19. Either party can cancel the Listing Agreement after 6 months with 30 day written notice.
- CBRE is entited to a Minimum Fee. See Exhibit A, Section 3 and 4 3. Broker (CBRE) shall receive a minimum fee generally as follows:
- $1.50 per gross square foot for the sale of any industrial or office land
- $5,000.00 for the sale of any residential parcel of land
- $5,000.00 for the sale of any residential parcel of land greater than $45,000
- $3,500.00 for the sale of any residential parcel of land less than or equal to $45,000
- NEW: City Generated Sales Lead: If a potential prospect/buyer is generated by the City of Ramsey with no prior contact or discussions with/from CBRE than the commission will be reduced to 3% of the gross sales price to calculate commissions. If potential buyer generated by City of Ramsey has a cooperative broker, there will not be a fee reduction.
- Standard Commission found in Exhibit A. As to sales of real property, CBRE’s commission shall be five percent (5%) of the gross sales price. If a cooperating broker or salesperson procures the sale, the commission will be seven percent (7%) of the gross sales price.
If approved, revisions would take effect August 1, 2019.
Alternatives include, but are not limited to the following:
If approved, revisions would take effect August 1, 2019.
- Continue Contract with CBRE with existing language.
- Amend Contract with CBRE on the number of properties listed for specific properties, commission, look-back period, or other standards.
- Seek proposals from other real estate brokers.
- List and market properties utilizing City Staff.
- The following parcels have been removed from the listing contract dated June 7, 2018:
- Parcel 8 - Amoco Site - 25-32-25-43-0043
- Parcel 11- Water Tower site at 167th - 11-32-25-43-0004
- Parcel 37a - 14165 Ramsey Blvd NE - 27-32-25-33-0006
- Parcel 40 - Bookstore Site - 34-32-25-13-0005
- Parcel 51 - Cottages at the COR 28-32-25-14-0094 (SOLD)
- Parcel 52 - (Remnant end cap / keyhole) 28-32-25-13-0034, 28-32-25-24-0005
- Pt Parcel 45 - Remnant south of 146th Ave NW - 29-32-25-14-0013
- Parcel 6 - Old Muni Site - 28-32-25-41-0081 (Closing schedule for May 3, 2019)
- The Commission Schedule is outlined in Paragraph 10 (a)(b). Leads generated by CBRE will receive a commission during the term of the contract PLUS an additional 180 days after the contract expires for any prospect CBRE had negotiated with during the term of the contract (common in real estate contracts). Additional specifics can be found in the attached contract.
- Cancelation provisions found in Paragraph 19. Either party can cancel the Listing Agreement after 6 months with 30 day written notice.
- CBRE is entitled to a Minimum Fee. See Exhibit A, Section 3 and 4 3. Broker (CBRE) shall receive a minimum fee generally as follows:
- $1.50 per gross square foot for the sale of any industrial or office land
- $5,000.00 for the sale of any residential parcel of land
- $5,000.00 for the sale of any residential parcel of land greater than $45,000
- $3,500.00 for the sale of any residential parcel of land less than or equal to $45,000
- NEW: City Generated Sales Lead: If a potential prospect/buyer is generated by the City of Ramsey with no prior contact or discussions with/from CBRE than the commission will be reduced to 3% of the gross sales price to calculate commissions. If potential buyer generated by City of Ramsey has a cooperative broker, there will not be a fee reduction.
- Standard Commission found in Exhibit A. As to sales of real property, CBRE’s commission shall be five percent (5%) of the gross sales price. If a cooperating broker or salesperson procures the sale, the commission will be seven percent (7%) of the gross sales price.
If approved, revisions would take effect August 1, 2019.
Alternatives include, but are not limited to the following:
If approved, revisions would take effect August 1, 2019.
- Continue Contract with CBRE with existing language.
- Amend Contract with CBRE on the number of properties listed for specific properties, commission, look-back period, or other standards.
- Seek proposals from other real estate brokers.
- List and market properties utilizing City Staff.
- The following parcels have been removed from the listing contract dated June 7, 2018:
- Parcel 8 - Amoco Site - 25-32-25-43-0043
- Parcel 11- Water Tower site at 167th - 11-32-25-43-0004
- Parcel 37a - 14165 Ramsey Blvd NE - 27-32-25-33-0006
- Parcel 40 - Bookstore Site - 34-32-25-13-0005
- Parcel 51 - Cottages at the COR 28-32-25-14-0094 (SOLD)
- Parcel 52 - (Remnant end cap / keyhole) 28-32-25-13-0034, 28-32-25-24-0005
- Pt Parcel 45 - Remnant south of 146th Ave NW - 29-32-25-14-0013
- Parcel 6 - Old Muni Site - 28-32-25-41-0081 (Closing schedule for May 3, 2019)
- The Commission Schedule is outlined in Paragraph 10 (a)(b). Leads generated by CBRE will receive a commission during the term of the contract PLUS an additional 180 days after the contract expires for any prospect CBRE had negotiated with during the term of the contract (common in real estate contracts). Additional specifics can be found in the attached contract.
- Cancelation provisions found in Paragraph 19. Either party can cancel the Listing Agreement after 6 months with 30 day written notice.
- CBRE is entitled to a Minimum Fee. See Exhibit A, Section 3 and 4 3. Broker (CBRE) shall receive a minimum fee generally as follows:
- $1.50 per gross square foot for the sale of any industrial or office land
- $5,000.00 for the sale of any residential parcel of land
- $5,000.00 for the sale of any residential parcel of land greater than $45,000
- $3,500.00 for the sale of any residential parcel of land less than or equal to $45,000
- NEW: City Generated Sales Lead: If a potential prospect/buyer is generated by the City of Ramsey with no prior contact or discussions with/from CBRE than the commission will be reduced to 3% of the gross sales price to calculate commissions. If potential buyer generated by City of Ramsey has a cooperative broker, there will not be a fee reduction.
- Standard Commission found in Exhibit A. As to sales of real property, CBRE’s commission shall be five percent (5%) of the gross sales price. If a cooperating broker or salesperson procures the sale, the commission will be seven percent (7%) of the gross sales price.
If approved, revisions would take effect August 1, 2019.
Alternatives include, but are not limted to the following:
If approved, revisions would take effect August 1, 2019.
- Continue Contract with CBRE with existing language.
- Amend Contract with CBRE on the number of properties listed for specific properties, commission, look-back period, or other standards.
- Seek proposals from other real estate brokers.
- List and market properties utilizing City Staff.
- The following parcels have been removed from the listing contract dated June 7, 2018:
- Parcel 8 - Amoco Site - 25-32-25-43-0043
- Parcel 11- Water Tower site at 167th - 11-32-25-43-0004
- Parcel 37a - 14165 Ramsey Blvd NE - 27-32-25-33-0006
- Parcel 40 - Bookstore Site - 34-32-25-13-0005
- Parcel 51 - Cottages at the COR 28-32-25-14-0094 (SOLD)
- Parcel 52 - (Remnant end cap / keyhole) 28-32-25-13-0034, 28-32-25-24-0005
- Pt Parcel 45 - Remnant south of 146th Ave NW - 29-32-25-14-0013
- Parcel 6 - Old Muni Site - 28-32-25-41-0081 (Closing schedule for May 3, 2019)
- The Commission Schedule is outlined in Paragraph 10 (a)(b). Leads generated by CBRE will receive a commission during the term of the contract PLUS an additional 180 days after the contract expires for any prospect CBRE had negotiated with during the term of the contract (common in real estate contracts). Additional specifics can be found in the attached contract.
- Cancelation provisions found in Paragraph 19. Either party can cancel the Listing Agreement after 6 months with 30 day written notice.
- CBRE is entited to a Minimum Fee. See Exhibit A, Section 3 and 4 3. Broker (CBRE) shall receive a minimum fee generally as follows:
- $1.50 per gross square foot for the sale of any industrial or office land
- $5,000.00 for the sale of any residential parcel of land
- $5,000.00 for the sale of any residential parcel of land greater than $45,000
- $3,500.00 for the sale of any residential parcel of land less than or equal to $45,000
- NEW: City Generated Sales Lead: If a potential prospect/buyer is generated by the City of Ramsey with no prior contact or discussions with/from CBRE than the commission will be reduced to 3% of the gross sales price to calculate commissions. If potential buyer generated by City of Ramsey has a cooperative broker, there will not be a fee reduction.
- Standard Commission found in Exhibit A. As to sales of real property, CBRE’s commission shall be five percent (5%) of the gross sales price. If a cooperating broker or salesperson procures the sale, the commission will be seven percent (7%) of the gross sales price.
If approved, revisions would take effect August 1, 2019.
Alternatives include, but are not limted to the following:
If approved, revisions would take effect August 1, 2019.
- Continue Contract with CBRE with existing language.
- Amend Contract with CBRE on the number of properties listed for specific properties, commission, look-back period, or other standards.
- Seek proposals from other real estate brokers.
- List and market properties utilizing City Staff.
- The following parcels have been removed from the listing contract dated June 7, 2018:
- Parcel 8 - Amoco Site - 25-32-25-43-0043
- Parcel 11- Water Tower site at 167th - 11-32-25-43-0004
- Parcel 37a - 14165 Ramsey Blvd NE - 27-32-25-33-0006
- Parcel 40 - Bookstore Site - 34-32-25-13-0005
- Parcel 51 - Cottages at the COR 28-32-25-14-0094 (SOLD)
- Parcel 52 - (Remnant end cap / keyhole) 28-32-25-13-0034, 28-32-25-24-0005
- Pt Parcel 45 - Remnant south of 146th Ave NW - 29-32-25-14-0013
- Parcel 6 - Old Muni Site - 28-32-25-41-0081 (Closing schedule for May 3, 2019)
- The Commission Schedule is outlined in Paragraph 10 (a)(b). Leads generated by CBRE will receive a commission during the term of the contract PLUS an additional 180 days after the contract expires for any prospect CBRE had negotiated with during the term of the contract (common in real estate contracts). Additional specifics can be found in the attached contract.
- Cancelation provisions found in Paragraph 19. Either party can cancel the Listing Agreement after 6 months with 30 day written notice.
- CBRE is entited to a Minimum Fee. See Exhibit A, Section 3 and 4 3. Broker (CBRE) shall receive a minimum fee generally as follows:
- $1.50 per gross square foot for the sale of any industrial or office land
- $5,000.00 for the sale of any residential parcel of land
- $5,000.00 for the sale of any residential parcel of land greater than $45,000
- $3,500.00 for the sale of any residential parcel of land less than or equal to $45,000
- NEW: City Generated Sales Lead: If a potential prospect/buyer is generated by the City of Ramsey with no prior contact or discussions with/from CBRE than the commission will be reduced to 3% of the gross sales price to calculate commissions. If potential buyer generated by City of Ramsey has a cooperative broker, there will not be a fee reduction.
- Standard Commission found in Exhibit A. As to sales of real property, CBRE’s commission shall be five percent (5%) of the gross sales price. If a cooperating broker or salesperson procures the sale, the commission will be seven percent (7%) of the gross sales price.
If approved, revisions would take effect August 1, 2019.
Alternatives include, but are not limited to the following:
If approved, revisions would take effect August 1, 2019.
- Continue Contract with CBRE with existing language.
- Amend Contract with CBRE on the number of properties listed for specific properties, commission, look-back period, or other standards.
- Seek proposals from other real estate brokers.
- List and market properties utilizing City Staff.
- The following parcels have been removed from the listing contract dated June 7, 2018:
- Parcel 8 - Amoco Site - 25-32-25-43-0043
- Parcel 11- Water Tower site at 167th - 11-32-25-43-0004
- Parcel 37a - 14165 Ramsey Blvd NE - 27-32-25-33-0006
- Parcel 40 - Bookstore Site - 34-32-25-13-0005
- Parcel 51 - Cottages at the COR 28-32-25-14-0094 (SOLD)
- Parcel 52 - (Remnant end cap / keyhole) 28-32-25-13-0034, 28-32-25-24-0005
- Pt Parcel 45 - Remnant south of 146th Ave NW - 29-32-25-14-0013
- Parcel 6 - Old Muni Site - 28-32-25-41-0081 (Closing schedule for May 3, 2019)
- The Commission Schedule is outlined in Paragraph 10 (a)(b). Leads generated by CBRE will receive a commission during the term of the contract PLUS an additional 180 days after the contract expires for any prospect CBRE had negotiated with during the term of the contract (common in real estate contracts). Additional specifics can be found in the attached contract.
- Cancelation provisions found in Paragraph 19. Either party can cancel the Listing Agreement after 6 months with 30 day written notice.
- CBRE is entitled to a Minimum Fee. See Exhibit A, Section 3 and 4 3. Broker (CBRE) shall receive a minimum fee generally as follows:
- $1.50 per gross square foot for the sale of any industrial or office land
- $5,000.00 for the sale of any residential parcel of land
- $5,000.00 for the sale of any residential parcel of land greater than $45,000
- $3,500.00 for the sale of any residential parcel of land less than or equal to $45,000
- NEW: City Generated Sales Lead: If a potential prospect/buyer is generated by the City of Ramsey with no prior contact or discussions with/from CBRE than the commission will be reduced to 3% of the gross sales price to calculate commissions. If potential buyer generated by City of Ramsey has a cooperative broker, there will not be a fee reduction.
- Standard Commission found in Exhibit A. As to sales of real property, CBRE’s commission shall be five percent (5%) of the gross sales price. If a cooperating broker or salesperson procures the sale, the commission will be seven percent (7%) of the gross sales price.
If approved, revisions would take effect August 1, 2019.
Alternatives include, but are not limited to the following:
If approved, revisions would take effect August 1, 2019.
- Continue Contract with CBRE with existing language.
- Amend Contract with CBRE on the number of properties listed for specific properties, commission, look-back period, or other standards.
- Seek proposals from other real estate brokers.
- List and market properties utilizing City Staff.
- The following parcels have been removed from the listing contract dated June 7, 2018:
- Parcel 8 - Amoco Site - 25-32-25-43-0043
- Parcel 11- Water Tower site at 167th - 11-32-25-43-0004
- Parcel 37a - 14165 Ramsey Blvd NE - 27-32-25-33-0006
- Parcel 40 - Bookstore Site - 34-32-25-13-0005
- Parcel 51 - Cottages at the COR 28-32-25-14-0094 (SOLD)
- Parcel 52 - (Remnant end cap / keyhole) 28-32-25-13-0034, 28-32-25-24-0005
- Pt Parcel 45 - Remnant south of 146th Ave NW - 29-32-25-14-0013
- Parcel 6 - Old Muni Site - 28-32-25-41-0081 (Closing schedule for May 3, 2019)
- The Commission Schedule is outlined in Paragraph 10 (a)(b). Leads generated by CBRE will receive a commission during the term of the contract PLUS an additional 180 days after the contract expires for any prospect CBRE had negotiated with during the term of the contract (common in real estate contracts). Additional specifics can be found in the attached contract.
- Cancelation provisions found in Paragraph 19. Either party can cancel the Listing Agreement after 6 months with 30 day written notice.
- CBRE is entitled to a Minimum Fee. See Exhibit A, Section 3 and 4 3. Broker (CBRE) shall receive a minimum fee generally as follows:
- $1.50 per gross square foot for the sale of any industrial or office land
- $5,000.00 for the sale of any residential parcel of land
- $5,000.00 for the sale of any residential parcel of land greater than $45,000
- $3,500.00 for the sale of any residential parcel of land less than or equal to $45,000
- NEW: City Generated Sales Lead: If a potential prospect/buyer is generated by the City of Ramsey with no prior contact or discussions with/from CBRE than the commission will be reduced to 3% of the gross sales price to calculate commissions. If potential buyer generated by City of Ramsey has a cooperative broker, there will not be a fee reduction.
- Standard Commission found in Exhibit A. As to sales of real property, CBRE’s commission shall be five percent (5%) of the gross sales price. If a cooperating broker or salesperson procures the sale, the commission will be seven percent (7%) of the gross sales price.
If approved, revisions would take effect August 1, 2019.
Alternatives include, but are not limted to the following:
- Continue Contract with CBRE with existing language.
- Amend Contract with CBRE on the number of properties listed for specific properties, commission, look-back period, or other standards.
- Seek proposals from other real estate brokers.
- List and market properties utilizing City Staff.
- The following parcels have been removed from the listing contract dated June 7, 2018:
- Parcel 8 - Amoco Site - 25-32-25-43-0043
- Parcel 11- Water Tower site at 167th - 11-32-25-43-0004
- Parcel 37a - 14165 Ramsey Blvd NE - 27-32-25-33-0006
- Parcel 40 - Bookstore Site - 34-32-25-13-0005
- Parcel 51 - Cottages at the COR 28-32-25-14-0094 (SOLD)
- Parcel 52 - (Remnant end cap / keyhole) 28-32-25-13-0034, 28-32-25-24-0005
- Pt Parcel 45 - Remnant south of 146th Ave NW - 29-32-25-14-0013
- Parcel 6 - Old Muni Site - 28-32-25-41-0
Funding Source:
There is no immediate or initial up front costs. CBRE is only paid at time of sale, and a commission is deducted from the gross sales price rather than an hourly rate. In addition, Staff negotiated a reduction of commission from 5% to 3% for City generated leads on CBRE listed property which continues in this Listing Agreement term.
Recommendation:
Staff recommends approval of the Listing Agreement with CBRE from February 1, 2023 - January 31, 2024 as presented.
Action:
Motion to recommend to the City Council approval of the attached Listing Agreement with CBRE from February 1, 2023 - January 31, 2024.
Attachments
- ACTION - Listing Agreement with CBRE
- Parcel Map of Listings in COR
- CBRE Property Listing Activity
- CBRE Sign locations
- CBRE Listing Agreement (Reference)
- CBRE 2023 Land Review
- MPLS Office Market
- MPLS Industrial Market
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| Sean Sullivan (Originator) | Sean Sullivan | 01/05/2023 10:52 AM |
| Brian Hagen | Brian Hagen | 01/05/2023 11:47 AM |
- Form Started By:
- Sean Sullivan
- Started On:
- 01/03/2023 08:02 AM
- Final Approval Date:
- 01/05/2023