Market Strategy & Developer Solicitation Process Implementation

The Canaveral Port Authority controls and operates the second largest cruise port in the world. The Authority retained C&S to pro­vide real estate advisory services to address the opportunities and constraints associated with the development of commercial retail, restaurant, hotel, and entertain­ment space as part of its Cove re­development project.

After the completion of a retail and restaurant market analysis for the site, C&S further tested project feasibility by conducting industry research and a series of interviews with national retail, restaurant, hotel, and entertainment develop­ers/operators. In addition, C&S also investigated public-private development agreements and ground lease structures to identify prevailing terms and conditions in the marketplace.

C&S staff represented the Port, conducting site visits to develop­ment projects comparable to the planned Cove development. Our team also facilitated an extensive public workshop series to engage stakeholders and the community at-large in preparing the master site plan for the Cove.

C&S identified an implementation strategy for the port’s consideration which included soliciting a master development partner. C&S managed the developer solicitation process for the Port including drafting the RFQ and supporting documents, evaluat­ing developer qualifications, and presenting the recommended development team and partner­ship structure to the Port’s Board of Commissioners for final selec­tion and approval. C&S worked to assist the Port through negotiation support.

Additionally, C&S also evaluated existing Cove leases, benchmarked industry lease structures and terms, and provided resulting input for a new Port leasing policy.