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Office

Magnolia Centre II

1211 Governors Square Blvd, Tallahassee, FL 32301

Listing Price: $6,000,000

Cap Rate
4.58%
Gross SF
45,298
Rentable SF
45,298
Price/Gross SF
$132.46
Lot Size
1.70 acres
Year Built
1989

Investment Overview

Marcus & Millichap is pleased to present for sale Magnolia Centre II (the ”Property”), a 45,298-square-foot office building located at 1211 Governors Square Boulevard in Southeast Tallahassee. The Property was built in 1989 as a suburban office for tenants that did not need to be downtown but wanted easy access to amenities. Today, the Property is home to a mix of tenants serving the Tallahassee market with long-term commitment to the property and area. Magnolia Centre II is centered in a prime location, with direct views of the Florida State Capitol building, and numerous retail amenities within walking distance, including the Governors Square Mall and Magnolia Grove. Apalachee Parkway, just a few hundred feet south of the Property, provides easy access to downtown and Capital Circle (SR-319). For tenants that engage in government contracting, numerous departments have headquarters nearby including FDOT, Department of Business and Professional Regulation, the Florida State Capitol, Florida Department of Environmental Protection, and the Florida Lottery. Tallahassee is the capital city of Florida with a year-round population of 191,279 people. Government entities, government contractors and the Tallahassee Memorial Healthcare System dominate the local economy. In addition to the professional workforce, Tallahassee is well known for its universities, including Florida State University, Florida A&M University and Tallahassee Community College, which collectively enroll over 80,000 students each year.

Investment Highlights

  • 73-PERCENT OCCUPIED – VALUE-ADD OPPORTUNITY
  • DIRECT VIEWS OF THE FLORIDA STATE CAPITOL BUILDING
  • WALKING DISTANCE TO MAGNOLIA GROVE AND GOVERNORS SQUARE MALL
  • ONE MILE FROM DOWNTOWN TALLAHASSEE – BUILT-IN DEMAND FOR OFFICE SPACE
  • TWO MILES AWAY FROM FLORIDA STATE AND FLORIDA A&M UNIVERSITIES

Exclusively Listed By

Financing By

Listing Price: $6,000,000

Cap Rate
4.58%
Gross SF
45,298
Rentable SF
45,298
Price/Gross SF
$132.46
Lot Size
1.70 acres
Year Built
1989

Investment Highlights

  • 73-PERCENT OCCUPIED – VALUE-ADD OPPORTUNITY
  • DIRECT VIEWS OF THE FLORIDA STATE CAPITOL BUILDING
  • WALKING DISTANCE TO MAGNOLIA GROVE AND GOVERNORS SQUARE MALL
  • ONE MILE FROM DOWNTOWN TALLAHASSEE – BUILT-IN DEMAND FOR OFFICE SPACE
  • TWO MILES AWAY FROM FLORIDA STATE AND FLORIDA A&M UNIVERSITIES

Investment Overview

Marcus & Millichap is pleased to present for sale Magnolia Centre II (the ”Property”), a 45,298-square-foot office building located at 1211 Governors Square Boulevard in Southeast Tallahassee. The Property was built in 1989 as a suburban office for tenants that did not need to be downtown but wanted easy access to amenities. Today, the Property is home to a mix of tenants serving the Tallahassee market with long-term commitment to the property and area. Magnolia Centre II is centered in a prime location, with direct views of the Florida State Capitol building, and numerous retail amenities within walking distance, including the Governors Square Mall and Magnolia Grove. Apalachee Parkway, just a few hundred feet south of the Property, provides easy access to downtown and Capital Circle (SR-319). For tenants that engage in government contracting, numerous departments have headquarters nearby including FDOT, Department of Business and Professional Regulation, the Florida State Capitol, Florida Department of Environmental Protection, and the Florida Lottery. Tallahassee is the capital city of Florida with a year-round population of 191,279 people. Government entities, government contractors and the Tallahassee Memorial Healthcare System dominate the local economy. In addition to the professional workforce, Tallahassee is well known for its universities, including Florida State University, Florida A&M University and Tallahassee Community College, which collectively enroll over 80,000 students each year.

Exclusively Listed By

Financing By

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