Council Selects Cushman & Wakefield for Real Estate Broker/Advisory Services for Transit-Oriented Development

As part of the Town’s ongoing efforts to create a transit-oriented development based on the vision established in the Addison Circle Special Area Study, the Town planned to select a real estate broker to provide the Town with real estate advisory services and represent the Town in an upcoming master developer solicitation for the properties around the future DART Silver Line Rail Station.

 

Cushman & Wakefield (C&W) was selected through a Request for Proposals process to provide these services for Addison. C&W and their local team have extensive experience representing many government organizations locally and throughout Texas, including recently representing DART on the 11-acre Mockingbird Station East development. The City Council approved the selection at its September 22 meeting.

 

C&W's scope of services includes strategic planning and project underwriting, creation of marketing materials, solicitation and analysis of proposals, and contract negotiation. The estimated completion date of the contract would be December 31, 2021, but could be extended with four additional one-year terms. C&W's compensation fee will include a transaction related fees and a possible success fee.