Oxnard—During its Tuesday, Dec. 17 meeting, the City Council unanimously approved its Professional Services Agreement with CBRE (Coldwell Banker Richard Ellis) for real property services in the City of Oxnard.
CBRE and the City of Oxnard have worked together since 2019, including property evaluations, listing, representation, and negotiations for potential acquisition and disposition by the City and its affiliates.
Housing Director Emilio Ramirez said the City and CBRE agreement has been extended three times and will expire at the end of Jan, providing a myriad of the City’s Real Estate services.
“Staff has positive experiences in its contractual history with CBRE and recommends it enter into a new agreement to continue with Real Estate services,” he said.
City Staff issued a Request for Proposals (RFP), and CBRE was the only respondent that was cost-effective. It will have an 18-month term until June 2026 with three one-year extensions until June 2029.
“The total contract is $375,000 with the full potential extensions,” he said. “The annual amount is $100,000 for 12 months; we also added a $50,000 contingency for third-party services, such as appraisals…
