Pasadena Unified School District Resolution 2895 2026-06-25
CBRE Commission Outlined in Park IV Ground Lease LOI
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Description
Park IV Group’s letter of intent for the Linda Vista site proposes that CBRE receive a brokerage commission equal to 4% of the first 25 years of ground lease payments, to be split between the District’s and the developer’s brokers. The commission would be paid by the lessee upon execution of a formal ground lease.
Contract Details
Contract Amount
Brokerage fee equal to 4% of the cumulative first 25 years of ground lease payments, paid by Lessee
Vendor
CBRE
Agency
Pasadena Unified, CA
Contract Type
PROFESSIONAL_SERVICES
Document Date
June 25, 2026
Contract Term
Fee based on first 25 years of anticipated ground lease term
Renewal Info
One-time commission structure tied to the initial 25 years of a prospective 99-year lease; no renewal provisions are mentioned.
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