REQUEST FOR PROPOSALS
The property owners are seeking proposals from qualified developers and/or potential users of the space under a long term lease scenario. The properties will be delivered in their “as is” conditions.
Lease agreements for the properties may be subject to the successful bidders having a reasonable “due diligence” period to investigate various aspects of the properties and a “permitting” period to obtain local zoning approvals for their re-use concepts.
Interested parties may submit proposals for either or both of the properties.
Written proposals should be submitted to The Drumlin Group, Inc. at 600 Loring Avenue in Salem, Ma 01970 on or before February 1, 2018. The proposals should set forth the following:
• Name and Address of Proposers
• Description of the proposed re-use project for the properties including preliminary plans, renderings and sketches of proposed re-use scenarios.
• Proposed lease terms including (1) lease commencement date, (2) rent commencement date, (3) base rent for initial term and renewal option terms, (4) term of lease and structure of renewal options up to 99 years, (5) lease guarantor. It is intended that the lease payments will be absolutely net to the Lessor with the Lessee being responsible for all costs to operate the properties.
• Background and experience of the developer and other team members to demonstrate their relevant experience with similar projects that have been completed. Included within this section should be at least two references from Lessors of properties and/or public officials where projects have been completed.
The property owners shall review the proposals and within four weeks from the date of submissions, we will issue a written response to all proposers that have submitted bids in a timely manner.
The property owners reserve the right to decline any or all proposals. The owners may choose one or more of the proposals and negotiate different terms with the proposers.
