Storage Facility Sells Before It’s Listed

NAI TALCOR Realtor John McNeill recently finalized a huge sale on not just one specific space, but a 620-unit storage warehouse in Tallahassee. Newly constructed on 3.8 acres on Barcelona Lane, the 98,000-square-foot space sold for $7.1 million. Within 15 days of initial conversations it went under contract.

John McNeill / NAI TALCOR

The California buyer worked closely with a South Florida NAI affiliate and McNeill in order to close the deal quickly. In fact, the property was never listed or even on the market. 

Structurally, the building provides all of the necessities for a fully operating self storage facility, with features such as climate-controlled units, high-tech security and plenty of lighting. The warehouse will continue to function as a self-storage facility serving SouthWood residents, Florida State University students and tenants in nearby office buildings.

McNeill said there has been a tremendous call for quality constructed buildings in high growth states like Florida. With an accessible location, quality design and steady rates, this property was scooped up fast. 

“New construction likely made the buyer comfortable with initial maintenance in early years of ownership. The property is also stabilized with great occupancy rates as well as excellent rental rates,” said McNeill.

Quick Look

Address: 2401 Barcelona Lane, Tallahassee

List price: Off Market Transaction

Sold price: $7,100,000

Square feet: 620 Units 98,000 square feet

Contact: John McNeill, NAI TALCOR, (850) 224-2300

Categories: Just Sold