An unnamed company is seeking incentives totaling some $8.3M from the state and city for the proposed construction of a 1 million square foot distribution center that could be built at city owned Cecil Commerce Center in Jacksonville’s Westside submarket.
The project sounds very similar to the Amazon distribution center that was announced earlier this year, which was being referred to as Project Rex when they were at this stage of the process. There is a strong possibility that the company behind Project Vero could be Amazon, who has built more than one distribution center in the same market before. In fact, it is somewhat common for Amazon to build one distribution center to pick, pack and ship smaller items, and another to process larger items, such as furniture, sporting equipment, TV’s and other larger consumer products.
The Cecil Commerce location would be about 23 miles south of the location that was already announced, which is at 12900 Pecan Park Road, right off I-295 and just south of the Airport.
A 1M SF distribution center appears to be in the works at Cecil Commerce Center on Jacksonville’s Westside. Similar to the Amazon distribution center that was recently announced, at this point the company has not being identified. What we do know is that the proposed facility would serve as a packaging distribution center for a national company and would employ about 1,000 people. Some people are hypothesizing that the building could be an additional Amazon facility…. We will have to wait and see.
Hillwood Investment Properties of Dallas reported to the city of JAX lots of activity and deals in the works at Alliance Florida at Cecil Commerce Center on the city’s Westside, including:
- Delivering to the city a $1.5M check for Hillwood’s profits, a milestone that Hillwood reports the development is now “in the black” after it sold the GE Oil & Gas facility to the Realty Income Corp. REIT for some $57.6M
- Talking to an undisclosed company for a 150k SF aviation-related manufacturing facility
- After a site tour, awaiting an RFP for a 600k SF distribution center, expandable to 750k SF
- Broker inquiries for undisclosed prospects to lease 500k SF distribution center and a 400k SF warehouse and 100-150k SF warehouse users
- A 200k SF manufacturing facility, believed to be for a aviation-related user
- Other smallers users, including a retail project and an un-timed and unspecified e-commerce center.
Dallas-based Hillwood Holdings is kicking around the idea of a second spec 500k SF warehouse at Cecil Field; GE Oil & Gas took the first one and they immediately sold that leased asset. Karen Brune Mathis of The JAX Daily Record has the article, that includes some highlights from Hillwood’s presentation to the city for its Q4 2014 report; Hillwood is the master developer for the city of Cecil Commerce Center, the largest industrial park in terms of land in the state.
Two big sales, totaling $88M, closed this past week with FedEx at Cecil Commerce Center selling at $30.65M or $103/SF to Monmouth and the GE Oil & Gas building sold to Realty Income for $57.6M or $113/SF. Both are long term single-tenant net leased assets. Karen Brune Mathis of The JAX Daily Record has the announcement.
Karen Brune Mathis of the JAX Daily Record reports that Hillwood Investment Properties is courting at least six more projects at Cecil Commerce Center, including an undisclosed 1MSF BTS distribution center, per a report that Hillwood submits quarterly to the city of JAX, the owner of the park.
JANUARY 13 UPDATE – As reported by Jensen Werley in the JAX Business Journal, Hillwood and JAX Chamber say they have responded to the 1MSF user’s inquiries, but the prospect has not followed up. Still early for some of these BIG deals.
Karen Brune Mathis of the JAX Daily Record reports that Hillwood Investment Properties has a few other potential deals up its sleeve at Cecil Commerce Center in its last report to the city on their marketing efforts.
GE Oil & Gas will open a $50M facility at Cecil Commerce Center in West JAX, and bring about 50 senior-level workers and executives to JAX from Chicago and Salt Lake City. They will also be hiring some 500 skilled workers locally in Q1 2015, with an average annual pay of about $49k. Colleen Michele Jones of The JAX Business Journal has the story.
FedEx broke ground on a 300k SF distribution facility at the Cecil Commerce Center in West JAX to replace a smaller facility at Lane Avenue in mid-2015. The former Navy base is slowly being transformed with Hillwood Investment Properties taking the marketing lead back in 2010. Finally, a spec building by Hillwood has begun and there is increasing optimism and momentum for the 4,500 acres of city-owned land. And there is lots of talk of bigger users, especially users with requirements of 600k SF and more. Nate Monroe of The Florida Times-Union has the update.