Perot’s Hillwood pays $107M for Amazon warehouse in Jupiter

Dallas-based firm founded by the late Ross Perot acquired 1M sf fulfillment center

Perot’s Hillwood Pays $107M for Amazon Warehouse in Jupiter
Perot and Hillwood Chairman Ross Perot Jr. and the Amazon fulfillment center at 14490 Corporate Road North (Hillwood Urban, Google Maps)

Hillwood, a real estate firm founded by the late 1992 presidential spoiler candidate Ross Perot, paid $106.5 million for a gargantuan warehouse leased to Amazon.

An affiliate of Dallas-based Hillwood acquired the 1 million-square-foot fulfillment center at 14490 Corporate Road North in Jupiter, records and real estate database Vizzda show. 

The price breaks down to $106.50 a square foot. 

In 2020, an affiliate of Truist Securities paid $21.8 million for 100 acres within the 945-acre Palm Beach Park of Commerce, records show. A year later, the affiliate completed the single-story building. 

At the time, the warehouse was Amazon’s third fulfillment center in Palm Beach County. The online retail conglomerate has since added a fourth distribution facility in Deerfield Beach. 

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Led by Chairman Ross Perot Jr., Hillwood is an industrial, commercial, and residential real estate development firm with projects across North America and Europe, the company’s website states. Perot’s father, who died in 2019, ran as an independent in the 1992 presidential election against Republican incumbent George H.W. Bush and Democratic nominee Bill Clinton. Perot Sr. garnered nearly 19 percent of the popular vote, but no electoral college votes. 

Hillwood is developing a handful of ambitious real estate projects in its home state. In Dallas, the firm recently launched plans to build a 410-unit multifamily complex at Frisco Station, a 242-acre mixed-use project that will have 2,400 apartments and 3 million square feet of offices when fully built. 

Last month, Hillwood announced it planned to spend $50 million making interior improvements to a 1.2 million-square-foot distribution center in Houston leased to Target. 

Amazon is seeking to expand its presence in South Florida beyond distribution centers. The online retailer is on the hunt for roughly 500,000 square feet of new office space in Miami. And Amazon founder Jeff Bezos, a Miami native who’s the third richest person in the world with an estimated net worth of roughly $194 billion, recently moved to the Miami area. 

In less than a year, Bezos has dropped $237 million on three waterfront properties in Indian Creek Village, including a 10,000-square-foot estate for $90 million last month.