RFP/Q#2626-001 Waterfront Property Management Services

The City of Redondo Beach owns and operates a portfolio of waterfront commercial properties ("Property") along the Redondo Beach coastline, including: • Pier Plaza: (103 to 131 W. Torrance Blvd) • International Boardwalk (100 S. to 164 N. International Boardwalk) • Fisherman's Wharf (200 to 250 Fisherman's Wharf) • Kincaid's (500 Fisherman's Wharf) • Foss Maritime Company (161 N. Harbor Drive) • R/10 Social House (179 N. Harbor Drive) • Redondo Beach Marina Office (181 N. Harbor Drive) • Riviera Mexican Cantina (207 N. Harbor Drive) • Captain Kidd's (209 N. Harbor Drive) • California Surf Club (239 N. Harbor Drive) • California Surf Club North Grill (245 N. Harbor Drive) • Pier Parking Structure Storage Units (100 W. Torrance Blvd) The Property includes approximately 60 commercial tenants across restaurant, retail, and office uses, along with 24 supplemental storage units, and generates a minimum of approximately $3.6 million gross annual revenue. Leases for restaurants and retail are based on a percentage rent structure in which the tenant pays a base monthly minimum rent or a percentage of gross sales, whichever is higher. The estimated annual rent revenue provided above is based on the rent roll for the tenants' base minimum monthly rent, and it should be noted that actual revenue generated from these properties exceeds the annual rent roll. These properties collectively represent a significant source of revenue for the City's Tidelands and Uplands funds. The Property is located within the California Coastal Zone, over and adjacent to coastal waters, and are subject to the City's Local Coastal Program (LCP), the jurisdiction of the California Coastal Commission, and applicable federal and state water quality regulations including the City's Municipal Separate Storm Sewer System (MS4) National Pollutant Discharge Elimination System (NPDES) Permit. Compliance generally includes implementing appropriate best management practices to prevent pollutants from entering the storm drain system, properly managing waste and runoff generated by project activities, and maintaining documentation as required by applicable regulations. Additional information regarding the NPDES permit requirements can be found here. Many of the leases include percentage rent structures tied to tenant gross sales, requiring active lease administration and tenant reporting oversight. The City of Redondo Beach is seeking proposals from qualified property management firms to provide comprehensive day-to-day management, lease administration, financial reporting, and operational services for the Property. This includes routine maintenance, respective repairs, and stewardship of the Property's overall aesthetics to ensure a clean, safe, and inviting environment for tenants and visitors. The City's goal is to ensure transparent management that delivers reliable financial reporting, consistent revenue performance, proactive lease administration, and a well-maintained, thriving waterfront experience. Separately, the City is conducting a competitive process for Real Estate Brokerage Services and Marina Operations Management Services. The firm selected in this solicitation will not be responsible for brokerage activities, marketing efforts, tenant acquisition, or marina operations. Property management services solicited under this RFP/Q will require coordination with the City's designated Real Estate Brokerage and Marina Operations firms to support effective property management operations. However, the Marina Operations Management firm, the Property Management firm, and the Real Estate Brokerage firm shall each report directly to the City. Proposers may apply to this RFP/Q individually or in combination with the Waterfront Real Estate Brokerage Services RFP/Q (#2627-002) (RFP/Q Pending Release) and/or Marina Operations Management Services RFP/Q (#2627-003) (RFP/Q Pending Release). Proposals that demonstrate efficiencies or cost savings through bundled services or coordinated work across multiple RFP/Qs may be evaluated favorably for potential economy of scale.