New office building takes shape on Madrid Street

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A new office building is now under construction at 2452-2464 E. Madrid off South Lone Pine, according to Mike Mellinger, owner of Mellinger Com-mercial LLC and broker for the project.|ret||ret||tab|

The building, which is owned by Jeff and Agnes Miller of United American Insurance, is slated for completion in June. |ret||ret||tab|

Once finished, the structure will have five tenant spaces, one of which already is leased.|ret||ret||tab|

Mellinger said the spaces will range from 1,176 square feet to 1,231 square feet in size. |ret||ret||tab|

The lease rate is $14.25 per square foot, he added, with an additional fee of $30 per month for common area maintenance.|ret||ret||tab|

The building sits on approximately 29,300 square feet of land. |ret||ret||tab|

"There are several different floor plans," Mellinger said. "Some of the spaces have three offices and some have four."|ret||ret||tab|

Construction on the building, which is made of stone and Dryvit, a synthetic building material that looks like stucco, began in January.|ret||ret||tab|

The Millers also own the building that houses their company and Mellinger's company, also on Madrid.|ret||ret||tab|

"Jeff decided to increase his real estate and have these new spaces built," Mel-linger said.|ret||ret||tab|

Agnes Miller said they don't have plans to build anything else on Madrid because there's no more space there on which to build.|ret||ret||tab|

Mellinger said East Madrid is a great location because it's easily accessible and it's in a quiet area. |ret||ret||tab|

"It's easy to get on Highway 65, if you need to go to Branson, and easy to get to Sunshine or Battlefield," he said. "There's not much traffic here because it's off Lone Pine and Sunshine a little."|ret||ret||tab|

Jeff Miller said Madrid Street is like a little neighborhood.|ret||ret||tab|

"The street is only 500 yards long," he said.|ret||ret||tab|

The general contractor on the project is Creative Building Company of Nixa. The architect on the project is Steve Keystone of Keystone Architects LLP, 1722 S. Glenstone.|ret||ret||tab|

The estimated cost of the new office building is $700,000.[[In-content Ad]]