Receivership Asset Sale – Insolvent Insurance Company Headquarters Office Bldg

Highlights

• Three Story Office Building in NE Tallahassee
• Located in the most affluent household income demographics in the city
• Multi Story Lobby Entrance
• Over 4 acre parcel
• Class A Building
• 247 Parking Spaces
• Building Generator - Back Up Power
• HVAC by Water-cooled chiller for maximum efficiency and comfort
• Cafeteria & Kitchen
• Multiple Training Rooms
• Executive offices of varying sizes
• Abundance of natural light
• Multiple Outdoor Patios
• Large Mail/Shipping & Receiving Room

Description

The three story 52,000 square foot Class “A” office building was built in 2006 as a corporate headquarters office for a national title insurance company. The 4.69-acre parcel has 247 parking spaces – 1/222 SF. The ground floor is approximately 15,500 sf, floor 2 is 17,561 sf, and floor 3 is 18,126 sf. The property is located in the affluent northeast section of Tallahassee – the state Capitol of Florida. Some of the custom features of the building include: an abundance of glass for natural lighting, first floor tiered classroom training and teleconferencing room, first floor kitchen, and executive offices of varying sizes throughout the building. Heating and cooling is by a water-cooled chiller for maximum efficiency and comfort. The building has one elevator and is fire sprinkled. Florida is known as a “tax free state” because Florida does not have a state income tax and therefore in-state or out-of-state owners do not have to pay income taxes to the state on rental income generated by the building.

The parcel is located in the master planned Bull Run Development, along the Thomasville Road corridor (45k average daily traffic) and is surrounded by the most affluent household income demographics in the city - average household incomes of $118,375 within 3 miles and $114,843 within 5 miles. The site has excellent accessibility via Chancellorsville to Thomasville Road which features full turning access via deceleration lanes and a curb cut from Thomasville Road on to Chancellorsville Drive.

The property is located close to some of Tallahassee’s most affluent residential communities. Golden Eagle is located one mile to the north and features the most prestigious golf community in the area with an 18-hole Tom Fazio designed golf course. Rose Hill, Northampton's, Lake McBride and Bull Run are other highly desirable residential communities in the area.

The Bradfordville Retail market node just to the north features Super Target, Publix, Walgreens, Hangar 38, Cookie Crumble and upscale restaurants Blue Halo, Mom & Dads Italian, Dao, and ZBardhis. Super Wal-Mart, CVS and ABC Fines Wines are to the south.

Tallahassee is the Capitol City of the State of Florida and is the only incorporated city in Leon County. As the Capitol of Florida and home to Florida State University (41,000 students), Florida A&M University (12,000 students), Tallahassee has maintained a stable economy due to its government dominated employment base. Leon County is located 20 miles north of the Gulf of Mexico and is bounded by the State of Georgia on the north. Tallahassee is known as the “other Florida” because of the rolling landscape and clay-based soils, with some elevations exceeding 200 feet. The population of the Tallahassee MSA has 388,973 people and includes Leon County as well as all of surrounding counties that share the county or state line.

Documents