Meetings / Jul 8, 2026 / Item 69

Item 69

contract

Jul 8, 2026

Description

Authorize the Department to enter into a certain Real Estate Services Agreement dated June 22, 2026 with CUSHMAN & WAKEFIELD OF NEW HAMPSHIRE, INC., for marketing, consulting, and brokerage services to be provided to the Department in connection with the anticipated disposal by sale of the Sununu Youth Services Center (SYSC) campus property located at 1056 River Road in Manchester, NH. Effective upon G&C approval for a term of up to 24 months. The maximum amount payable by the Department to C&W under the Agreement is a commission equal to 4% of the contract sale price of the Property up to $25,000,000 plus 2% of any portion of the contract sale price that exceeds $25,000,000. Such commission shall be payable solely out of gross proceeds due and payable to the State upon the closing of the anticipated sale of the Property. However, in the event of a buyer breach under an executed Purchase and Sale Agreement, certain C&W service costs itemized in an exhibit to the Agreement may be reimbursable to C&W solely out of any earnest money deposit retained by the State pursuant to such Purchase and Sale Agreement. Such reimbursement amount shall not exceed $30,000. 100% General Funds

Amount
$25.0M
$25,000,000, $25,000,000, $30,000
Funding Source
4% of the contract sale price of the Property up to; 2% of any portion of the contract sale price that exceeds; 100% General Funds

Documents (1)

Item_69.pdf Open in new tab →
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