Gramercy buys Amazon fulfillment center in Jacksonville for $95.5M

Dallas-based Hillwood Development Co. built the Amazon facility, which spans 1 million square feet

TRD MIAMI /
Feb.February 18, 2018 09:00 AM

Amazon fulfillment center at 13333 103rd Street in Jacksonville (Credit: Jacksonville Daily Record)

Gramercy Property Trust Inc. paid $95.5 million for a 1 million-square-foot fulfillment center in Jacksonville operated by online retailer Amazon.

New York-based Gramercy also acquired a $59.3 million mortgage loan from New York Life Insurance Co. in connection with its Amazon-facility acquisition.

Hillwood Development Co. was the seller of the Amazon facility at the Cecil Commerce Center in Jacksonville.

Dallas-based Hillwood served as the master developer of the Cecil Commerce Center for the city of Jacksonville before buying the property from the city in January 2017 for $783,341 and then developing the Amazon fulfillment facility there, which opened in October.

The Amazon facility, located at 13333 103rd Street in Jacksonville, is one of four in the city.

Gramercy is familiar with the city’s office market. Last year, the company sold Grammercy Woods, a five-building Jacksonville office complex anchored by Bank of America, for $115 million. [Jacksonville Daily Record]Mike Seemuth


Related Article

arrow_forward_ios
South Florida Logistics Center

JPMorgan buys Amazon-leased warehouse next to Miami International Airport

3208 Northwest 72 Avenue and Blackstone CEO Stephen Schwarzman (Credit: Google Maps and Getty Images)

Blackstone buys industrial portfolio near Miami airport for $56M

Tim Tebow and his home in South Jacksonville's Glen Kernan Golf & Country Club (Credit: Getty Images, Estately)

Take 2: Tim Tebow pays $3M for second house in gated community in Florida

Opportunity Zone in Jacksonville is site of bank-financed apartment development

Public Storage CEO Ronald Havner (Credit: Twitter)

Public Storage picks up industrial portfolio in Miami-Dade for $63M

New York firm closes 2nd sale of a Miramar office building this year, collects $45M

JPMorgan Chase Bank lends $36M for Pompano Beach industrial development

Trio of industrial buildings in Riviera Beach Opportunity Zone sell for $11.7M

arrow_forward_ios