PSA with CBRE, Inc. a0i8- 33339
City of Miami Beach, 1700 Convention Center Drive, Miami Beach. Florida 33139,www_miamibeachfl.goy
Jimmy L. Morales, City Manager
Tel: 305-673-7010, Fox: 305-6/37782
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 -Suite 2 of the Anchor Shops Retail Space, consisting of
approximately 2,957 square feet of ground floor retail space, located at
1560 Collins Avenue, Miami Beach, Florida (Assignment)
In accordance with Section 2.2. 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,/
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Manager / ,-.)%d I, L .7,4?
Rafael E.Grenade,City Clerk
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NOTICE TO PROCEED RECEIVED AND ACKNOWLEDGED BY CBRE, INC.: 0 * . '
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Signature: MIn .pC .........TM';�o!
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Title: Szn.int' Nene.".Lai Q inr
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Date: Co '27112
APPROVED AS TO
FORM & LANGUAGE
&FOR EXECUTION
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