LTC 063-2021 RFLI No. 2021-029-KB (Class A Office Space Development Lincoln Lane North) UPDATECity of Miami Beach, 1700 Convention Center Drive, Miami Beach, Florida 33139, www.miamibeachfl.gov
OFFICE OF THE CITY MANAGER
LETTER TO COMMISSION
TO: Mayor Dan Gelber and Members of the City Commission
FROM: Raul Aguila, Interim City Manager
DATE: February 12, 2021
SUBJECT: UPDATE - RFLI 2021-029-KB Class A Office Development
The purpose of this Letter to Commission (LTC) is to update the Mayor and City Commission
regarding Request for Letters of Interest (RFLI) 2021-029-KB, seeking expressions of interest in
developing Class A office space on Lincoln Lane North.
Last October, at the direction of the City Commission, the Administration released the above
referenced RFLI seeking expressions of interest from developers interested in developing Class
A office space on any or all of the three largest parking lots adjacent to Lincoln Road, which
include P25, P26 and P27, as highlighted below.
By first issuing an RFLI prior to any solicitation, the City Commission may gauge whether interest
exists among the real estate development industry for a potential public-private partnership on
these lots. The RFLI specified that interested parties were not to submit development offers or
proposals. Instead, if market interest exists in developing Class A office space on these lots, as
determined by the City’s receipt of expressions of interest, the City Commission may consider
issuing a Request for Proposals (RFP) to seek formal detailed proposals from interested parties.
A formal RFP would be necessary to seek development proposals, as the City Charter would
likely require voter referendum approval of any development on these lots.
LTC 063-2021
Letter to Commission – Update on Class A Office RFLI
February 12, 2021
Page 2 of 2
Following issuance of the RFLI in October, the due date for the submission of letters of interest
was extended from November 9, 2020, to February 11, 2021. This extension enabled the RFLI
process to gain momentum while the Administration invested $8,000 in an eight-week strategic
marketing plan targeting the development and business market. The Economic Development
Department collaborated with the Marketing and Communications Department to develop and
execute a marketing campaign which included digital ad placements in relevant trade
publications, programmatic display ads utilizing behavioral and content filters as well as
geotargeted ads in Florida and the Tri-State area. The Administration also worked with the Lincoln
Road Business Improvement District to publicize the RFLI resulting in mentions in publications
such as the Miami Herald and South Florida Business
Journal among others.
The deadline to submit letters of interest to the
Procurement Department was 3:00 PM on February
11, 2021. The City received letters of interest from
fifteen (15) entities prior to the deadline. Two (2)
additional letters of interest were received just after the
deadline for a total of seventeen (17) responses. See
Exhibit A (Receipt Log Sheet). The list of interested
parties includes accomplished real estate developers
and investors, known both locally in the region and
nationally.
Next Steps
The results of the RFLI will be discussed on February
19, 2021 at the Finance and Economic Resiliency
Committee (FERC) meeting as part of an existing
Economic Development item that includes
marketplace analysis depicting a resilient local office
market and continued interest among out-of-state
tenants. As the Administration is recommending action
be taken in light of these favorable conditions, the
FERC may recommend the City Commission
authorize preparation of an RFP. Firms invited to
participate in the RFP would include but not be limited
to respondents to the RFLI.
The RFLI stipulates that the Administration may hold
industry review meetings, following the receipt of
expressions of interest, in order to discuss questions
or concerns including any impediments to
development with interested parties. The objective of industry review meetings would be to obtain
information to ensure preparation of an RFP that best promotes the City’s interests while
maximizing benefits the City may receive from any development.
Please direct any questions on the foregoing to Rickelle Williams, Economic Development
Director (RickelleWilliams@miamibeachfl.gov).
13th Floor Investments
Mangrove Real Estate Partners, Tricera Capital,
Sasaki
Adler Group Northwood Acquisitions and Northwood Investors
Design District Management, Inc., D/B/A Dacra &
Adventurous Journeys LLC Oak Capital Group LLC
Andalex Capital R & B Realty Group, LLC
The Comras Company of Florida, Inc. & Terra Related Group (PRH Investments, LLC)
COO Premium Development, Inc.
RFR Holding LLC
(Received on 2/11/21 @ 3:39pm EST)
Sterling Bay, Place Projects, and Deco Capital Group
Galbut Family Office LLC
(Received 2/11/21 @ 5:40pm EST)
David Mancini & Sons, Inc.
East End Capital
Integra Investments & Starwood Capital Group
REQUEST FOR LETTERS OF INTEREST
RFLI 2021-029-KB
CLASS “A” OFFICE DEVELOPMENTS
Responses received by: _________________________________________________________ (Print Name and Sign)
Kristy Bada, Contracting Officer III
Company Company
February 11, 2021
3:00 p.m.