Hillwood Investment Properties buys Cecil land for spec warehouse

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Hillwood Investment Properties bought property Monday for its next speculative warehouse at AllianceFlorida at Cecil Commerce Center.

Fort Worth-based Hillwood bought 35.43 acres through New World venue Avenue Bldg D-2 LLC.

The city sold the property for $322,530.98, or about $9,103 an acre.

The sale was recorded Tuesday with the Duval County Clerk of Court.

Senior Vice President Dan Tatsch said Nov. 25 that no tenants have committed to lease the building.

Hillwood will build a 407,435-square-foot building on the site to be completed by September, which meets a deadline to the city. Hillwood is the city’s master developer at Cecil.

The city issued a site-clearing permit Nov. 16 for The Conlan Co. to clear the land at a cost of $800,000.

It also has been reviewing a permit application for Conlan to build the structure at a construction cost of $15.72 million at 4660 New World Ave.

So far, the project is adding up to $16.8 million in land, site and construction costs.

The building is designed to accommodate a single or multiple tenants.

The city owns the Cecil Commerce Center business park, which is a former naval air station. It is south of Interstate 10 at Cecil Commerce Center Parkway and Normandy Boulevard.

Hillwood’s first speculative structure at Cecil was leased to GE Oil & Gas, which set up a manufacturing plant to make valves and regulators.

It was designed at 400,000 square feet but adjusted to 510,433 square feet when a tenant became involved.

GE Oil & Gas was announced as the tenant in September 2014.

Hillwood also is expected to soon buy an 86-acre site at Cecil Commerce Center for development of a 1 million-square-foot Amazon.com fulfillment center. That site also is being cleared.

Hillwood will pay the city $8,819 an acre, or more than $758,000. That location is at 13333 103rd St.

Conlan also is the contractor for that project at a construction cost of $56.4 million. Amazon.com is expected to officially announce the project by year-end.

The company would hire 1,200 full-time employees by the end of 2019. The center would handle large consumer items.

The first Amazon.com center, to pick, pack and ship small items, is under construction at 12900 Pecan Park Road in Northwest Jacksonville. The 1,500-job facility should be completed by fall 2017.

As master developer, Hillwood has a long-term contract with the city to develop up to 30 million square feet of industrial and retail space at Cecil Commerce Center in West Jacksonville.

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