Beale Street - Rare Vacancy RFP Document - Complete Documents

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I. Overview:

The Downtown Memphis Commission (“DMC”) manages the Beale Street Historic District (“BSHD”) on behalf of its owner/lessor, the City of Memphis. There presently exists a rare vacancy in the BSHD, namely the property located at 151, 153, and 155 Beale Street (“Premises”), formerly occupied by the Black Diamond and Tater Red’s. This RFP is intended to solicit proposals from interested parties for restaurant/bar and/or retail component, to be operated as either one (1) or two (2) businesses. Please note that DMC will not consider any proposal that seeks only a portion of the Premises.


LOCATION Downtown Memphis Commission
114 N. Main St.
Memphis, TN 38103
Attn: Beale RFP

DEADLINE 3:00 P.M. MAY 20, 2022

II. Premises:

The Premises is a one-story building located on the south side of Beale Street, between Second and Third Streets, with a total interior square footage of approximately 3,300 ft2 and is a “contributing property” of the Beale Street Historic District, as designated bythe National Register of Historic Places. There is additionally approximately 2,500 ft2 of rear patio space.

There are a total of two entrances onto Beale Street from the Premises, one each providing access to the former Tater Red’s space and accessing the former Black Diamond space. The Premises include one kitchen area.

The Premises has during most of its recent history been operated as two different businesses, with one a retail operation and one a restaurant/bar, but most recently they were integrated into one retail operation. There presently exists an interior partition wall that runs approximately 70% of the length of the Premises. The feasibility of removal of such wall, if desired, is subject to DMC’s approval.

While a former tenant provided certain limited food options, the Premises do not, at present, include a kitchen or a full complement of utility hookups. Nevertheless, no proposal that includes a feasible kitchen and the buildout thereof, will be rejected or downgraded based on the present absence of a kitchen. No assessment has been done to determine if a kitchen can be installed in compliance with local and state laws.

The Premises is offered in as-is condition. Neither DMC nor City make any representation, guarantee, or warranty concerning any property conditions, including the possible presence of hazardous materials. Neither DMC nor the City of Memphis will bear any responsibility or expense in removal or treatments of asbestos, lead, or any other hazardous materials.

III. Evaluation Criteria:

Each proposal will be evaluated by DMC and its advisors on a 60-point scale using the criteria below. The criteria and scoring will be used by DMC to identify and select finalists for further consideration, which may include, among others, interviews, supplemental submissions, and site visits.

• Job Creation (5 pts)
• Capital Investment (5 pts)
• Diversity/MWBE in ownership and/or contracting (15 pts)
• Experience and expertise of ownership and management (15 pts)
• Financial strategy and projection (10 pts)
• Overall fit within Beale Street Historic District (10 pts)

The foregoing, however, shall not be construed to limit or prohibit the DMC’s consideration of other factors as may be determined to be relevant in DMC’s sole discretion.

IV. Submission Requirements:

The proposal must include the following:

• Cover letter introducing the overall vision for the Premises, including why the proposal is right for Beale Street, which must include the primary point of contact, including such person’s telephone number and email address;

• Identification of all members, shareholders, directors, officers, principals, and investors of the respondent, including an organizational chart of ownership and management;

• Identification of any and all consultants, including for design and construction, if any, the respondent using for the Premises;

• Identification of any prior or concurrent projects of the respondent and its principals of similar size and scale to the proposal; and

• Development concept for the Premises, including narrative description of concept, site plans, pro forma, capital investment, timeline, and MWBE participation.

V. Submission Process:

• Questions, including requests for site visits, may be submitted to

• All responses to this RFP must be submitted to the DMC by the deadline set forth above. Respondents must submit both a digital copy (on CD, flash drive, or via electronic transmission) and three (3) original hard copies.

VI. Timeline:

• Publication of RFP — April 4, 2022

• Deadline for Questions/Site Visits — May 6, 2022

• Proposal Deadline — May 20, 2022

• Completion of DMC Review of Proposals — June 24, 2022

• Finalist Interviews — June 27 – July 8, 2022

• Preliminary Selection and Lease Negotiations — July 11 – August 12, 2022

VII. Other

• The selection of a proposal and/or negotiation of a lease shall not be construed as a guarantee of final and full approval of any applicant or project, as any lease agreement shall be subject to the approval of the Mayor of the City of Memphis and the City Council.

• In the event that DMC and any selected respondent are unable to reach agreement on a lease or in the event that either the Mayor or City Council rejects any selected respondent or lease agreement, the DMC may, in its sole discretion, restart the lease agreement and City approval process with other applicants or parties.

• DMC is an equal opportunity employer and will select or reject proposals without regard to age, disability, religion, creed or belief, political affiliation, race, sex, or ethnicity.

• DMC’s Equal Business Opportunity (EBO) program requires that a best-faith effort is made to proactively avail any potential contracting or subcontracting opportunities to qualified minority and women-owned businesses. Our minimum goal for MWBE participation in the project is 25%.

• DMC may, in its sole discretion, determine that it needs to request additional information from the respondents as part of the selection process once finalists have been identified. DMC reserves the right to not select a proposal as a result of this process. In that event, the DMC may, or may not, elect to revise and reissue the RFP if deemed necessary to solicit additional interest in the property.

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