Hillwood could buy 35 acres this week for spec warehouse

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In addition to an eventual land purchase to develop an Amazon.com center, Hillwood Investment Properties will buy property for a speculative warehouse building.

“As things currently stand, Hillwood plans to close on the purchase of the 35-acre spec parcel” this week, said Senior Vice President Dan Tatsch in an email last week.

He said Friday no tenants have committed to lease the building.

According to the Office of Economic Development, the final closing documents were executed by the city for the sale at a price of $322,530, about $9,215 an acre.

A Nov. 11 report by OED to the mayor’s office said final payment was expected soon. Hillwood will construct a 407,435-square-foot building on the site to be completed by September.

Tatsch said he had not seen the closing documents, so he could not comment on those specifics.

In October, Hillwood applied for a permit to build the speculative structure at a construction cost of almost $16 million on 35.43 acres at 4660 New World Ave. in the Westside business park.

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

The Conlan Co. is the contractor for the project, which is shown at a construction cost of $15.72 million.

Another land sale also is expected. Hillwood will pay $8,819 an acre, or more than $758,000, for the 86-acre site at 13333 103rd St. for Project Velo, according to city legislation.

That project was identified on a building permit application last week as a 1 million-square-foot Amazon.com center at a construction cost of $56.5 million.

Amazon.com has not confirmed the project.

The site is being cleared.

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.

Tatsch has declined comment on Project Velo.

The city owns the business park, which is a former naval air station. Fort Worth-based Hillwood is developing it as AllianceFlorida at Cecil Commerce Center, south of Interstate 10 at Cecil Commerce Center Parkway and Normandy Boulevard.

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