Hillwood courting prospects for warehouse

The Conlan Co. built a distribution center at AllianceFlorida.

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Hillwood Senior Vice President Dan Tatsch said prospects are in the “tire-kicking” stage for its 407,435-square-foot speculative warehouse at AllianceFlorida at Cecil Commerce Center.

He was finalizing a proposal Friday for one of them, but declined to identify any prospects.

Tatsch said Dallas-based Hillwood’s in-house property management department completed a “punch-list walk” with general contractor The Conlan Co., a final step before the contractor hands over the completed building at 4660 New World Ave. to Hillwood.

“We’re seeing good activity at our building and in the general Jacksonville market, and that’s encouraging,” he said.

Hillwood is the master developer for the city of the Cecil Commerce Center business park.

As the master developer, Hillwood is obligated to complete at least 1.2 million square feet of new building area by Sept. 15.

Tatsch said the date has been extended because of weather events before Hurricane Irma and that the building will be completed by the new deadline.

Amazon.com expects to open its new 1 million-square-foot fulfillment center this week at AllianceFlorida.

Hillwood paid $322,531 in December to buy 35.43 acres from the city to build the speculative warehouse, which is designed for a single tenant or multiple tenants and can be expanded by about 50,000 square feet.

Construction costs total $18.6 million for the building, site clearing, plumbing, electrical, roofing and other systems.

Including the land purchase price, the project costs top $18.9 million.

Tatsch said Hillwood does not disclose its exact development costs.

Hillwood’s first speculative building at AllianceFlorida was leased by GE Oil & Gas for a valve-manufacturing plant.