The Real Deal Miami

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
February 18, 2018 09:00AM

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