Negotiations are ongoing with prospects whose needs total about 1 million square feet of industrial space.
Hillwood, the developer of AllianceFlorida at Cecil Commerce Center, told the city Sept. 28 that it continues to work with a prospect that wants to lease a 270,000-square-foot build-to-suit facility at the West Jacksonville business park.
The unidentified prospect initially wanted a 500,000-square-foot center when discussions began in March, according to Hillwood’s second-quarter activity report to the city covering April 1-June 30.
As the city’s master developer at Cecil Commerce Center, Dallas-based Hillwood is required to file quarterly reports.
“Hillwood received and responded to an RFP from the prospect, after which Hillwood and the prospect exchanged multiple proposals, including a reduction in the building’s size to approximately 270,000 square feet,” Hillwood wrote.
“At the end of the reporting period, positive discussions with the prospect were ongoing.”
The site is on Parcel F along POW-MIA Memorial Parkway. Hillwood previously described the prospect as a distribution facility.
Hillwood said it released civil, environmental, geotech and topographic consultants to prepare due-diligence reports in support of the potential development. It also evaluated stormwater, wetland and title issues.
The first-quarter report, released in June, followed Hillwood’s action in May to file civil engineering plans with the city to grade almost 63 acres for a 517,510-square-foot distribution warehouse on Parcel F.
In those plans, Hillwood did not identify a user or tenant for the building, which was shown to be built in two phases.
The property is at southwest POW-MIA Memorial Parkway and Waterworks Street, next to the JinkoSolar solar-panel manufacturing plant. The city owns the land.
The project description said that along with the warehouse, there will be parking, truck storage and associated infrastructure.
Hillwood also told the city that during the second quarter, it:
• Received and responded to an initial inquiry from an unidentified prospect interested in leasing about 200,000 square feet of industrial space. Based on a list of preliminary requirements from the prospect, Hillwood prepared a conceptual site plan on Parcel P, which is at northeast Normandy Boulevard and POW-MIA Memorial Parkway. At the end of the reporting period, discussions with the prospect were continuing.
• Continued discussions, which started in February, with a prospect interested in 350,000 to 400,000 square feet of industrial space. At the end of the reporting period, Hillwood was expecting to soon receive a request for proposals from the prospect.
Hillwood won a competitive bid in 2009 to become the master developer of the 4,474-acre Cecil Commerce Center, which is a portion of the former Naval Air Station Cecil Field owned by the city.
Hillwood Senior Vice President Dan Tatsch said he had no comment beyond the report.
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