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Simpson Org Sells Tallahassee’s City Centre Building for $14M
Avison Young has closed the $13.6-million sale of City Centre, a seven-story, 168,677-square-foot office building that sits on 2.14 acres on Bronough Street in Tallahassee, FL.
An Avison Young team of David Duckworth, John Crotty, Michael Fay and Brian de la Fé represented the seller, Simpson Organization.
“The opportunity to sell the City Centre building came to us after offers from a 2019 listing attempt weren’t meeting the seller’s pricing expectations,” said Duckworth, who, with his team, has worked with the seller on several other deals throughout South Florida. “We quickly identified a buyer we knew was interested in the Tallahassee market and set up the deal at a price much higher than previous offers.”
City Centre is located in the state capital’s CBD and is 95% occupied by a mix of government-related and private-sector tenants. The building has undergone more than $6 million in capital improvements in recent years.
- ◦Sale/Acquisition
