TALLAHASSEE, FLA. — TerraCap Management LLC has sold Capital Commerce Center, a 260,900-square-foot office building located at 2601 Blair Stone Road in Tallahassee. Nashville-based CoreCivic, a publicly traded REIT, acquired the asset for an undisclosed price. Joe Rossi and Bob Cottle of Colliers International arranged the transaction on behalf of TerraCap, which originally acquired the property, then vacant, in 2013. At the time of sale, Capital Commerce Center was 98 percent leased to tenants including the Florida Department of Business and Professional Regulation (DBPR), the Florida Department of Agriculture, CareerSource and TEKSystems. Constructed in 1990, the building underwent renovations during TerraCap’s ownership, with tenant improvements for DBPR continuing into this year. The property comprises three interconnected buildings, including a parking garage attached to the building by a covered walkway. In addition, the property is situated approximately two miles from the Florida State Capitol and three miles from Florida State University.
Capital Commerce Center is located at 2601 Blair Stone Road in Tallahassee, Fla., roughly two miles from the Florida State Capitol.
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