PSA with CBRE, Inc. 020i8- 3o 33 g
City of Miami Beach, 1700 Convention Center Drive, Miami Beach,Florida 33139,www.miamibeachf.gov
Jimmy L. Morales, City Manager
Tel: 305-673-7010,Fax.305-673-7782
June 14, 2018
Shay Pope
Senior Vice President
CBRE, Inc.
777 Brickell Avenue
Miami, FL 33131
Re: Professional Services Agreement (PSA) between the City of Miami Beach,
Florida (City) and CBRE, Inc. (CBRE) for Real Estate Brokerage Services,
pursuant to RFQ 2016-152-WG
Subject: Notice to Proceed — Real Estate Leasing Services for Approximately 7,722
square feet of ground floor retail space at the Pennsylvania Avenue parking
garage, 1661 Pennsylvania Avenue, Miami Beach, Florida (Assignment)
In accordance with Section 22. of the above-referenced PSA, the City hereby requests that you
commence with this Assignment, effective as of the above date of this letter, for a period of
twelve (12) months, after which point this Assignment will terminate. Should the City wish to
continue listing the property further, a new Notice to Proceed will be issued. Notwithstanding,
the City shall have the option to terminate this Assignment at any time upon providing thirty (30)
days written notice.
Within fifteen (15) days following the expiration or sooner termination of this Assignment, CBRE
shall provide the City with a list of all prospects with whom CBRE was engaged in active
negotiations with respect to this Assignment. Such active negotiations must be demonstrated
by a written proposal, received by the City or issued to the prospect, prior to the expiration or
sooner termination date. If, within 180 days after such expiration or sooner termination date, the
City enters into any lease agreement, with a prospect contained on such list and for which a fee
would have been earned under the PSA, CBRE shall earn the fee provided for under the PSA to
the same extent as if this Assignment had not expired or terminated.
Upon expiration of the 180-day period, CBRE may present, for consideration by the City, an
extension of the fee protection period for any existing transactions which remain active and
imminent. City shall not be obligated to extend such period, but the parties may negotiate in
good faith a fair compensation arrangement, in the City's absolute and sole discretion, for the
work performed by CBRE prior to expiration or sooner termination. This paragraph shall survive
the expiration or sooner termination of this Assignment.
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Should you have any questions, please do not hesitate to contact Mark Milisits, Office of Real
Estate, at (305) 673-7000 ext. 6443.
Si cerely, '
li �•--- ATTEST:
my Mo of s
• Manager Jam(, S, Zci I?
1 E.Grenade,City Cleric
cc: Mark Milisits, Division Director
NOTICE TO PROCEED RECEIVED�/'A11VEA OWLEDGED BY CBRE, INC.':
Signature: v r^
Print Name: (T�9kl1r om 1 ins\1.rccrA 111.
Title: .le .Or (Yt:ne 0..1 7 reeks
Date: to r�a'7 1 1� 'J
APPROVED AS TO
FORM & LANGUAGE
& FOR 5XECUTION
City Attorney AT)ti IV Date
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