Magnolia Centre I Listing Details & Market Data

Magnolia Centre I is located in the the office sub-market directly to the east of Downtown Tallahassee, which experienced significant retail and commercial growth over the last 36 months. With access from the main travel corridors of Apalachee Parkway, Park Avenue, and Magnolia Drive, this office asset is centralized for professional services firms, government tenants/contractors, engineering firms, technology firms, etc. The FL DOT and FL Lottery Headquarters are less than 1/8 mile as well as being adjacent to a vibrant neighborhood mixed-use development with Starbucks, Hilton, various restaurants and retail shops.Priced well below replacement and with rent growth potential in near term, the building offers both small and large tenant users who do work with State of Florida a convenient office to enter into, or relocate within, market. With a "smart" capital investment plan, the return of investment with be direct and in near term. A diverse set of national credit tenants insulates building from downturns and COVID-19 rent liability or deferment was 0%.With each floor consisting of 9,700 sq. ft. floor plates, the office layouts provide for 1/4, 1/2 to full floor users the ability to have either an open floor plan or hard office intensive setup, as needed. The building offers very competitive lease terms favorable to market and being close to the State of Florida government agencies, including Lottery HQ and FL-DOT HQ. This site provides tenants a downtown Tallahassee location at a percentage of the typical price.