HomeMy WebLinkAbout4.a. Genz Ryan Listing Extension41)f-'*1SEM0U14T
EXECUTIVE SUMMARY
PORT AUTHORITY
Port Authority Date: April 16, 2013
AGENDA ITEM: Genz Ryan Listing Extension
AGENDA SECTION:
Old Business
PREPARED BY: Kim Lindquist, Deputy Director
AGENDA NO. 4.a.
ATTACHMENTS: Listing Extension, Executed Leasing
Agreement, Listing Report
APPROVED BY:
bi
RECOMMENDATION: Approve the listing extension for another 6 month period.
ISSUE
In September the Port Authority approved an extension of the listing agreement with CBRE, Inc.
for the Genz Ryan property. Mr. Palxniter will be available at the meeting to discuss what he sees
occurring in the marketplace.
In September there was brief discussion about placement of an affordable senior housing project by
the CDA on the Genz Ryan site. Staff has had several conversations with the CDA representatives
and another is scheduled for later this month. There are several sites being explored, one being the
Genz Ryan site. Staff is looking for a solution that will meet the needs of the City and County.
The extension recommendation is again for 6 months. The listing report is also included for
members' information.
RECOMMENDATION
Staff is recommending the Port Authority approve the listing extension for another 6 month period.
CBREAMENDMENT
TO LISTING AGREEMENT
CBRE, INC.
BROKERAGE AND MANAGEMENT
LICENSED REAL ESTATE BROKER
April , 20 13
This is an Amendment to the Exclusive Sales
Listing Agreement ( "Listing ") dated October 4 , 20 11 between CITY OF ROSEMOUNT PORT AUTHORITY
( "Owner') and CBRE, INC. ('Broker ") for the real property described as the southwest corner of Lower 147 th Street and
South Robert Trail, Rosemount. MN and is further described in the Exclusive Sales Listing Agreement
Owner and Broker hereby agree to amend the Listing as
1. That the Listing Term be extended for another period commencing May 1, 2013 and ending
midnight April 30, 2014.
2. All other terms and conditions remain the same.
As used herein the term "Owner' shall be deemed to include a tenant wishing to effect a sublease, lease
assignment or lease cancellation.
Except as expressly set forth in this Amendment, the Listing shall remain in full force and effect.
BROKER: OWNER:
CBRE, Inc.
Licensed Real Estate Broker CITY OF ROSEMOUNT PORT AUTHORITY
By:
By:
Richard C. Palmiter Jeff Weisensel
Title: Vice President Title: Chair
By:
Title:
By:
Title:
Address: 4400 West 78th Street Address: 2875 145th Street West
Suite 200 Rosemount, MN 55068
Minneapolis, MN 55435
Telephone: (952) 924 -4603
#13422/5217
Telephone: (651) 423 -4411
N:ITeam- &okeragelSupport BRKlaadatalBROKERAGAGREEMENTS 20131Rosemount Port Authority - AM01. doc
CB E
■ ■
EXCLUSIVE SALES LISTING AGREEMENT
CB RICHARD ELLIS
C3 RICHARD ELLIS, INC.
BROKERAGE AND MANAGEMENT
LICENSED REAL ESTATE BROKER
.2011
1. In consideration of the listing for sale of the real property hereinafter described (the' Property ") by CB RICHARD
ELLIS, INC. ( "Broker "), and Broker's agreement to use its best efforts to effect a sale of same, the undersigned ( "Owner ")
hereby grants to Broker the exclusive right to sell the Property for a period commencing October 10, 2011, and ending and
ending midnight October 9, 2012 (the "Term "), at a price and terms acceptable to Owner, provided, however, that Owner
may terminate this agreement at any time on ten days' written notice to Broker.
The Property is located at the southwest corner of Lower 147th Street and South Robert Trail, Rosemount, MN and
further described by the following PID numbers:
34- 24850 - 010 -10
34- 24850 - 010 -20
34- 03800 - 141 -30
34- 03800 - 142 -20
34- 03800 - 142 -30
34- 03800 -14 -225
References herein to the Property shall be understood to include portions of the Property.
Owner agrees to pay Broker a sales commission in accordance with Broker's Schedule of Sale and Lease
Commissions (the "Schedule "), a copy of which is executed by Owner, attached hereto and hereby made a part
hereof. This commission shall be earned for services rendered if, during the Term: (a) the Property is sold to a
purchaser procured by Broker, Owner or anyone else; (b) a purchaser is procured by Broker, Owner, or anyone
else who is ready, willing and able to purchase the Property at the price and on the terms above stated, or on any
other price and terms agreeable to Owner; (c) any contract for the sale of the Property is entered into by Owner;
(d) Owner removes the Property from the market or the Property is transferred due to eminent domain or the
threat thereof, foreclosure or conveyance in lieu of foreclosure; (e) Owner contributes or conveys the Property to a
partnership, joint venture or other business entity; (f) Owner is a corporation, partnership or other business entity
and an interest in such corporation, partnership or other business entity is transferred, whether by merger, outright
purchase and otherwise, in lieu of a sale of the Property.
As used in this Agreement the term "sale" shall include an exchange of the Property, and also the granting of an
option to purchase the Property. Owner agrees that in the event such an option is granted, Owner shall pay
Broker a sales commission in accordance with the Schedule on the price paid for the option and for any
extensions thereof. This commission shall be paid upon receipt by Owner of any such payment(s). In the event
such an option is exercised, whether during the Term or thereafter, Owner shall also pay Broker a sales
commission on the gross sales price of the Property in accordance with the Schedule. Notwithstanding the
foregoing, to the extent that all or part of the price paid for the option or any extension thereof is applied to the
sales price of the Property, then any commission previously paid by Owner to Broker on account of such option
payments shall be credited against the commission payable to Broker on account of the exercise of the option.
Owner further agrees that Owner shall pay Broker a commission in accordance with the Schedule if, within one
hundred twenty (120) calendar days after the expiration or termination of the Term, the Property is sold to, or
Owner enters into a contract of sale of the Property with, or negotiations continue, resume or commence and
thereafter continue leading to a sale of the Property to any person or entity (including his /her /its successors,
assigns or affiliates) with whom Broker has negotiated (either directly or through another broker or agent) or to
whom the Property has been submitted prior to the expiration or termination of the Term. Broker is authorized to
continue negotiations with such persons or entities. Broker agrees to submit a list of such persons or entities to
Owner no later than seventy -two (72) hours following the expiration or termination of the Term, provided, however,
that if a written offer has been submitted then it shall not be necessary to include the offeror's name on the list.
OWNER FURTHER AGREES THAT (a) IF A LEASE OF THE PROPERTY IS ENTERED INTO DURING THE
TERM TO ANYONE, OR (b) IF, WITHIN ONE HUNDRED TWENTY (120) CALENDAR DAYS AFTER THE
EXPIRATION OR TERMINATION OF THE TERM, THE PROPERTY IS LEASED TO, OR OWNER ENTERS
INTO A CONTRACT TO LEASE THE PROPERTY WITH, OR NEGOTIATIONS CONTINUE, RESUME OR
COMMENCE AND THEREAFTER CONTINUE LEADING TO THE LEASE OF THE PROPERTY TO ANY
PERSON OR ENTITY AS DESCRIBED IN PARAGRAPH 4 ABOVE, OWNER SHALL PAY BROKER A LEASING
COMMISSION IN ACCORDANCE WITH THE SCHEDULE.
Commissions shall be payable hereunder when earned or at closing of escrow, recordation of deed, lease
execution, or taking of possession by the purchaser or tenant.
Unless otherwise provided herein, the terms of sale shall be, at the option of the purchaser, either cash or cash to
any existing loan. Any offer may contain normal and customary contingencies such as those relating to the
condition of the Property, title report, and timing of closing.
Form No.5420.05 Rev 5/92
8. Owner and Broker agree that the Property will be offered in compliance with all applicable anti - discrimination laws.
9. Owner agrees to cooperate with Broker in bringing about a sale of the Property and to refer immediately to Broker
all inquiries of anyone interested in the Property. All negotiations are to be through Broker. Broker is authorized to
accept a deposit from any prospective purchaser and to handle it in accordance with the instructions of the parties
unless contrary to applicable law. Broker is exclusively authorized to advertise the Property and, exclusively, to
place a sign(s) on the Property if, in Broker's opinion, such would facilitate the sale of the Property. Owner and its
counsel will be responsible for determining the legal sufficiency of a purchase and sale agreement and other
documents relating to any transaction contemplated by this Agreement.
10. In the event the Property is removed from the market due to the opening of an escrow or acceptance of an offer to
purchase the Property during the Term, or any extension thereof, and the sale is not consummated for any reason
then, in that event, the Term shall be extended for a period of time equal to the number of days that the escrow
had been opened and /or the Property had been removed from the market, whichever is longer, provided that, in
no event shall such extension(s) exceed one hundred eighty (180) calendar days in the aggregate.
11. Owner agrees to disclose to Broker and to prospective purchasers and tenants any and all information which
Owner has regarding present and future zoning and environmental matters affecting the Property and regarding
the condition of the Property, including, but not limited to structural, mechanical and soils conditions, the presence
and location of asbestos, PCB transformers, other toxic, hazardous or contaminated substances, and
underground storage tanks, in, on, or about the Property. Broker is authorized to disclose any such information to
prospective purchasers or tenants.
12. Owner represents that it is the owner of the Property and that, except as may be set forth in an addendum
attached hereto, no person or entity who has an ownership interest in the Property is a foreign person as defined
in the Foreign Investment in Real Property Tax Act (commonly known as "FIRPTA ").
13. If earnest money or similar deposits made by a prospective purchaser or tenant are forfeited, in addition to any
other rights of Broker pursuant to this Agreement, Broker shall be entitled to one -half (1/2) thereof, but not to
exceed the total amount of anticipated commission.
14. To the extent permitted by applicable law, Broker is authorized to deduct its commissions from any deposits,
payments or other funds, including proceeds of sale or rental payments, paid by a purchaser or tenant in
connection with a transaction contemplated by this Agreement, and Owner hereby irrevocably assigns said funds
and proceeds to Broker to the extent necessary to pay said commissions. Broker is authorized to provide a copy
of this Agreement to any escrow or closing agent working on such transaction, and such escrow or closing agent
is hereby instructed by Owner to pay Broker's commissions from any such funds or proceeds available. Owner
shall remain liable for the entire amount of said commissions regardless of whether Broker exercises its rights
under this paragraph.
15. Owner acknowledges that Broker is a national brokerage firm and that in some cases it may represent prospective
purchasers and tenants. Owner desires that the Property be presented to such persons or entities and consents
to the dual representation created thereby. Broker shall not disclose the confidential information of one principal to
the other.
16. In the event that the Property comes under the jurisdiction of a bankruptcy court, Owner shall immediately notify
Broker of the same, and shall promptly take all steps necessary to obtain court approval of Broker's appointment,
unless Broker shall elect to terminate this Agreement upon said notice.
17. In the event that the Property becomes the subject of foreclosure proceedings prior to the expiration of this
Agreement, then this Agreement shall be deemed suspended until such time as Owner may reacquire the
Property within the Term. If this Agreement is suspended pursuant to this paragraph, Broker shall be free to enter
into a listing agreement with any receiver, the party initiating the foreclosure, the party purchasing the Property at a
foreclosure sale, or any other person having an interest in the Property.
18. In the event of any dispute between Owner and Broker relating to this Agreement, the Property or Owner's or
Broker's performance hereunder, Owner and Broker agree that such dispute shall be resolved by means of
binding arbitration in accordance with the commercial arbitration rules of the American Arbitration Association, and
judgment upon the award rendered by the arbitrator(s) may be entered in any court of competent jurisdiction.
Depositions may be taken and other discovery obtained during such arbitration proceedings to the same extent as
authorized in civil judicial proceedings in the state where the office of Broker executing this Agreement is located.
The arbitrator(s) shall be limited to awarding compensatory damages and shall have no authority to award
punitive, exemplary or similar type damages. The prevailing party in the arbitration proceeding shall be entitled to
recover its expenses, including the costs of the arbitration proceeding, and reasonable attorneys' fees.
Form No.5420.05 Rev 5/92
19. In the event that Owner lists the Property with another broker after the expiration or termination of this Agreement,
Owner agrees to provide in the subsequent listing agreement that a commission will not be payable to the new
broker with respect to transactions for which Owner remains obligated to pay a commission to Broker under
paragraph 4 or 5 hereof. Owner's failure to do so, however, shall not affect Owner's obligation to Broker under
paragraph 4 or 5 hereof.
20. Each signator to this Agreement represents and warrants that he or she has full authority to sign this Agreement
on behalf of the party for whom he or she signs and that this Agreement binds such party.
21. This Agreement constitutes the entire agreement between Owner and Broker and supersedes all prior
discussions, negotiations and agreements, whether oral or written. No amendment, alteration, cancellation or
withdrawal of this Agreement shall be valid or binding unless made in writing and signed by both Owner and
Broker. This Agreement shall be binding upon, and shall benefit, the heirs, successors and assignees of the
parties.
22. The parties hereto agree to comply with all applicable federal, state and local laws, regulations, codes, ordinances
and administrative orders having jurisdiction over the parties, property or the subject matter of this Agreement,
including, but not limited to, the 1964 Civil Rights Act and all amendments thereto, the Foreign Investment In Real
Property Tax Act, the Comprehensive Environmental Response Compensation and Liability Act, and The
Americans With Disabilities Act.
The undersigned Owner hereby acknowledges receipt of a copy of this Agreement and the Schedule.
ACCEPTED:
CB RICHARD ELLIS, INC.
LICENSED REAL ESTATE BROKER
Richard Palmiter
Title: Vice President
By:
Title:
CITY OF ROSEMOUNT PORT AUTHORITY
(Owner)
Jeff Weisensel
e: Chair
By:
Title:
Address: 4400 West 78`" Street Address: 2875 145th Street West
Suite 200 Rosemount MN 55068
Minneapolis MN 55435
Telephone: (952) 924 -4600 Telephone: 651 - 423 -4411
Form No.5420.05 Rev 5/92
CERE
CB RICHARD ELLIS SCHEDULE OF LAND SALE COMMISSIONS
CI3 RICI IARD ELLIS, INC.
BROKERAGE AND MANAGEMENT
LICENSED REAL ESTATE BROKER
FOR PROPERTY AT: The Property is situated within the State of Minnesota , and is further described as
The Property is located at the southwest corner of Lower 147th Street and South Robert Trail, Rosemount, MN and
further described by the following PID numbers:
34- 24850 - 010 -10
34- 24850- 010 -20
34- 03800 - 141 -30
34- 03800 - 142 -20
34- 03800 - 142 -30
34- 03800 - 142 -25
NOTICE: THE COMMISSION RATE FOR THE SALE, LEASE, RENTAL, OR MANAGEMENT OF REAL
PROPERTY SHALL BE DETERMINED BETWEEN EACH INDIVIDUAL BROKER AND ITS CLIENT.
As to all sales of real property, the commission shall be calculated on the basis of five percent (5% ) of the gross sales
price, six percent (6 %) if this is a co -op broker sale. This commission shall be paid at the time of execution and delivery of
the Deed; provided that if the transaction calls for a contract for deed, then upon execution of said contract. In the event a
joint venture agreement is effected in lieu of a sale, then the commission shall be calculated on the basis of the value of
the property as determined for purposes of the joint venture agreement and the percentage of interest thereof which is
being conveyed to the new joint venture partners and the commission in this event shall be paid upon execution of the joint
venture agreement.
The provisions hereof are subject to the terms and provisions of any Authorization of Sale, Exclusive Leasing Agreement
or other agreement to which this Schedule may be attached and which is executed by the parties hereto.
In the event Owner fails to make payments within the time limits called for herein, then from the date due until paid, the
delinquent payment shall bear interest at the maximum legal rate of the state of the CB Richard Ellis office executing this
Schedule. In addition, should it become necessary for CB Richard Ellis to take legal action to collect payments due
hereunder, and if CB Richard Ellis prevails in such action, Owner shall pay all reasonable attorneys fees and court costs
incurred by CB Richard Ellis in connection therewith.
The undersigned Owner hereby acknowledges receipt of a copy of this Schedule and further agrees that it shall be binding
upon the heirs, successors and assigns of the undersigned. The term "Owner ", when used herein, shall be deemed to
mean the owner of the property, a tenant under a ground lease, and any tenant desiring to effect subleases.
CB Richard Ellis, Inc.
Licensed Real Estate Broker
By: °K��uw dC NAA
Richard Palmiter
Title: Vice President
By:
Title:
Fonn No. 2040.15 (Minneapolis /St. Paul) Rev. 11/91
APPROVED this L01 day A (.JA'eA 2011
ROSEMOUNT PORT AUTHORITY
Owner
By:
Jeff Weisensel
Tit!
Chair
CBREAMENDMENT TO LISTING AGREEMENT
CBRE, INC.
BROKERAGE AND MANAGEMENT
LICENSED REAL ESTATE BROKER
September 19 , 20 12
This is an Amendment to the Exclusive Sales
Listing Agreement ( "Listing ") dated October 4 , 20 11 betwee
( "Owner ") and CBRE, INC. ( "Broker") for the real property described as
Owner and Broker hereby agree to amend the Listing as follows:
1. That the Listing Term be extended for another period commencing October 10, 2012 and
ending midnight April 30, 2013.
2. All other terms and conditions remain the same.
As used herein the term "Owner" shall be deemed to include a tenant wishing to effect a sublease, lease
assignment or lease cancellation.
Except as expressly set forth in this Amendment, the Listing shall remain in full force and effect.
BROKER:
CBRE, Inc.
Licensed Real Estate Broker
' 01-
By: CL `
Richard C. Palmiter
Title: Vice President
By:
Title:
OWNER:
CITY OF R SEMOUNT PORT AUTHORITY
;By: Jeff Weisensel
Chair
By:
Title:
Address: 4400 West 78"' Street Address: 2875 14e Street West
Suite 200 Rosemount MN 55068
Minneapolis, MN 55435
Telephone: (952) 924 -4603 Telephone: , (651) 423 -4411
#13422/5217
N:ITaem- &okeragelSuppor( BRKUaealaWROKERAGtAGREEMENTS 2012WOsemount Port AuMo* - AM0140c
LISTING REPORT
3/3/13
Listing:
Rosemount Commercial
Client:
City of Rosemount
Client Contact:
Kim Linquist
Acreage:
2.45 ac - 6 parcels
Location:
Hwy 3
Description:
Vacant /Redevelopment Land
Broker Contact:
Brian Pankratz, Richard Palmiter
Listing Price:
Best Offer
Listing Expiration:
4/30/2013
askslStatus
1
:p
List data on Loo net, Costar, MNCAR, CBRE's Internal HUB
D`_eatlhne
Co C`eCed
Completed
2
Install Onsite Si na a
Completed
3
113rochure
Completed
4
5
E- Marketing Cam ai n Logic Program) - Local LSG and CBRE databases
1/15/13
6
Analyze Campaign Logic Report
Completed
7
Update Brochure
As Needed
8
s
10
lOn2oing Inquiry/Lead Follow UE
Ongoing
Cor>wtact. ,
User /CPMP40" �..F,
Date. �
Comments. , ...
1
Sandy Barin
CBRE
11/2/11
Sent brochure
2
Tom Simon
CBRE
11/8/11
Sent brochure
3
John Ryden
CBRE
11/8/11
Sent brochure
4
Steve Nielson
Welsh
11/17/11
Discussed site - sent brochure
5
Luke Appert
Northmar
11/18/11
Discussed site - sent brochure
6
Jim DePetrio
CBRE
11/20/11
Discussed site - sent brochure
7
Nick Zie elmann
CBRE
11/20/11
Discussed site - sent brochure
8
Kari Gill
12/1/11
Discussed site - sent brochure
s
fJan
Just Kidding Around
12/2/11
Discussed possible daycare location - sent brochure
10
Don Twombl
12/22/11
Discussed possible carwash location - sent brochure
11
Kari Gill
Dakota Count
1/4/12
Discussed the site further - sent brochure
12
J. Decesare
1/10/12
Sent brochure
13
Mike Korsh
KAR Realty
1/24/12
Sent brochure
14
Ross Hedlund
Frauenshuh
2/9/12
Sent brochure
15
Matt Alexander
KAR Realty
2/16/12
Sent brochure
16
IJeff DeCesare
3/9/12
Seeking 1031 exchange properties - sent brochure
17
Eric Curtis
3/12/12
Sent brochure
18
Mike Byron
4/13/12
Discussed possible site options- sent brochure
19
Lee Henning
4/17/12
Sent Brochure
20
Patrick Stoffre en
4/17/12
Inquired about sites - discussed the properties - sent brochu
21
Ken Isaacson
5/23/12
Sent brochure
22
Molly Townsend
Cassidy Turley
5/23/12
Seeking Automotive site - Sent brochure
23
Peter Fooshe
5/31/12
Sent brochure
24
Robert Youngquist.
Cush Wakefield
6/4/12
Seeking site for small medical user - sent brochure
25
Ryan Strand
CBRE
6/19/12
Discussed site - sent brochure
26
Mark Dolsonz
6/27/12
Sent brochure
27 1
Brian
LPSI
7/12/12
Discussed site for MF user - sent brochure
28
John Studer
7/20/12
Discussed site - sent brochure
29
Dan Basil
7/26/12
Sent brochure
30
Tony Weinstine 1
Marquee MN 1
7/28/12 1
Sent brochure
31
Andy McConville ICBRE
1
8/7/12 1
Discussed site - sent brochure
32
Brian
LPSI
8/12/12
Discussed site - sent brochure
33
Chris Moe
HJ Development
8/13/12
Discussed site - sent brochure
34
Russ Krivor
Dolce Living
9/5/12
Disccussed site challenges - sent brochure
35
Ellis
nationwide Group
9/13/12
Seeking possible Multi-family sites - sent brochure
36
Chantily Maliba o
Cush Wakefield
9/27/12
Discussed site - sent brochure
37
lTom Martin
Cush Wakefield
9/27/12
Discussed site options on different parcels - sent brochure
38
1
ACC Tech
9/28/12
Interested in site - discussed it and sent brochure
39
Dan Re an
Air Lake Development
10/4/12
Sent brochure
40
Wally Rodger
Edina Realty
10/7/12
Discussed site- sent brochure
41
Chas
10/8/12
Loo net Inquiry - sent brochure
42
C. Meyer
Dollar General Store
10/8/12
Seeking sites - sent brochure
43
Nick Rukavina
Cushman Wakefield
10/17/12
Sent brochure
44
Kathy Anderson
10/18/12
Seeking site for Advanced Auto - sent brochure
45
Tim McShane
McShane Development
10/22/12
Advanced Auto re - discussed site
46
Paul Thomas
Pioneer Eng
11/1/12
Sent brochure
47
Roger Haxb
11/12/12
Sent brochure
48
Jay Jenson
The Waters Sr Living
11/16/12
Discussed site - sent brochure
49
Chris Simmons
Planet Fitness
11/26/12
Discussed site - sent brochure
50
Jamie Cohen
Dollar Tree
11/26/12
Discussed site - sent brochure
51
Gerald Driessen
CBRE
12/7/12
Sent brochure
52
Mary Burton
Zeller Realty Group
12/7/12
Seeking 6K sf for stand alone restaurant - sent brochure
53
Tim Bloom
CBRE
12/17/12
Discussed site - sent brochure
54
Josh Bloom
Bloom Realty
12/19/12
Discussed site - sent brochure
55
Jeff Carriveau
HJ Development
12/21/12
Requested brochure
56
Ran Krzmarzick
Colliers
1/17113
Seeking 30 -65K building space - sent brochure
57
Matt Friday
1/24/13
Inquired about restaurant possibilities - sent brochure
58
Sharmini Everett
Children of America
2/4/13
Seeking build -to -suit locations - sent brochure
59
Kari Gill
Dakota Count
2/4/13
Sent brochure and setting up a meeting to discuss site furth
60
Maggie Craft
IMH Financial
2/11/13
Sent brochure
61
Ran Hoveland
YABLO
2/12/13
Seeking restaurant pad - sent brochure
62
Andy McConville
CBRE
2/25/13
Discussed site - sent brochure
63
Ted Glasrud
Opportunity Advisors
2/28/13
Discussed site - sent brochure
64
65
66
67
Comments fi ;
1 Met with Port Authority - revising brochure/recommending pricing
Date: .
1/17/12
2
3
4