TO: HARBOR COMMISSION
FROM: KATHERINE BUCK, WATERFRONT AND ECONOMIC DEVELOPMENT MANAGER
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DISCUSSION AND POSSIBLE ACTION REGARDING AN UPDATE ON THE WATERFRONT PROPERTY MANAGEMENT, BROKERAGE SERVICES, AND MARINA MANAGEMENT REQUESTS FOR PROPOSALS
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BACKGROUND
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The City has contracted with a third-party property manager for its waterfront properties since 2012. On February 21, 2012, the City entered into an Agreement for Management Services with Landmark Acquisition Company (“Landmark”) to manage the Pier Plaza office complex, the International Boardwalk, a portion of Fisherman’s Wharf, the Pier Parking Structure storage units, and the Fisherman’s Wharf Sanitation District. On May 6, 2014, the agreement was amended to expand the services to the Redondo Beach Marina and the businesses located at 161-245 N Harbor Drive. On January 5, 2016, the City Council approved a Second Amendment which assigned the agreement to Leonardo Marina Management Inc. (“Leonardo”), a wholly owned subsidiary of Landmark, with Landmark remaining jointly responsible for the agreement.
On August 15, 2023, the City Council approved a Third Amendment consenting to the assignment of the agreement from Leonardo to Concord Property Management Group, LLC (“Concord”). Property management operations continued in the on-site office at Pier Plaza, and Concord remits monthly net income to the City for each property. The initial term of the agreement ran from August 15, 2023 to August 14, 2024. It now renews automatically in three-month periods and cannot continue beyond August 14, 2029. The City may terminate the agreement without cause with 30 days’ written notice.
Since 2012, brokerage and leasing services for the properties have also been provided by BC Urban, LLC, as a subcontractor to Landmark. Its services include developing a marketing strategy, conducting outreach to existing and prospective tenants, negotia...
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