Cole Center Acquisition or Long-Term Lease
Cleveland State University
Original Solicitation Links
RFP 5072ME
]EV Charging Station Partnership
Contact
Submission Instructions
Description
Cleveland State University is soliciting nonbinding Letters of Intent from qualified parties interested in acquiring the Cole Center or leasing it under a long-term lease arrangement. Respondents may propose a purchase, lease, both alternatives, a lease with purchase option, or another transaction structure that provides economic value to the University. The property is offered “AS IS, WHERE IS,” with all faults and without representations or warranties except as may be included in a definitive agreement. Each LOI must identify the respondent and proposed transaction entity, primary contact information, business and relevant experience, ownership structure, financial capacity, intended future use, anticipated occupancy, proposed improvements or alterations, investment, community benefits, required approvals, and other material terms. Purchase proposals should address price, earnest money, due diligence, closing, financing, brokerage, contingencies, and requested seller obligations. Lease proposals should address term, rent schedules and escalations, operating expenses, tenant improvements, commencement dates, renewal options, security or guaranty, assignment and sublease rights, termination rights, and proposed use. LOIs are nonbinding and any resulting transaction requires negotiation, approval, and execution of a definitive agreement; a sale also requires approval by the State of Ohio Controlling Board.
Classification Codes
Smart Codes
Timeline
Requirements
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