Dallas-based developer Hillwood switched its listing team at AllianceFlorida at Cecil Commerce Center to Cushman & Wakefield.
Hillwood notified the city in its third-quarter report that former listing agent, CBRE Senior Vice President Terry Quarterman, decided to retire, prompting Hillwood to interview others.
In late September, Hillwood awarded the assignment to Cushman & Wakefield’s Jacksonville industrial team led by executive manage directors Tyler Newman and Jacob Horsley.
The park website, marketing materials and signage are being updated.
Hillwood, the city’s master developer at AllianceFlorida, provides quarterly reports of its activities at the West Jacksonville industrial park. The third quarter was July 1-Sept. 30, 2024.
More activities
In other marketing activities, Hillwood said it:
• Continued discussions with a prospect interested in buying about 5 acres of Parcel R for retail or mixed-use development. The prospect indicated an interest in buying about 5 acres of Parcel U, at southwest First Coast Expressway and POW-MIA Memorial Parkway, as an alternative to the Parcel R site, at southeast Normandy Boulevard and POW-MIA Memorial Parkway, north of 103rd Street.
As of Sept. 30, the prospect was evaluating both sites.
• Received an update from a prospect that first contacted Hillwood in late 2023 with an interest in leasing 600,000 to 1 million square feet of space for “automated distribution.” As of Sept. 30, the prospect continued to evaluate its requirements and did not expect to move forward on the Jacksonville project until 2025.
Speculative building
Hillwood also reported that in August, its senior leadership team approved development of a 603,000-square-foot speculative industrial building on about 45 acres of Parcel E at northwest POW-MIA Memorial Parkway and Finger Lake Street.
In April, Hillwood engaged environmental, geotechnical, wetland and civil engineering consultants to start due diligence.
The August approval allowed Hillwood to begin design, permitting and development.
By the end of September, the site contractor had cleared the upland portion of the site and was awaiting a stormwater permit to start site grading.
Shell completion is targeted for September 2025.
As previously reported, Hillwood applied for a permit in September to build the speculative Building E at an estimated job cost of almost $34.96 million.
Hillwood Construction Services L.P. of Dallas is listed as the contractor for the 603,529-square-foot warehouse on 45 acres at 5550 POW-MIA Memorial Parkway.
The building site is north of the Florida State College at Jacksonville Cecil Center.
Hillwood started site work in August and intends to launch vertical construction in the first quarter of 2025.
Executive Vice President Dan Tatsch said previously he expects Building E to be completed by Sept. 1, 2025. It is designed as a cross-dock facility.
Cross-docking is a logistics practice of unloading products from an incoming truck and immediately reloading into outbound trucks or trailers.
The city issued a site-clearing permit Aug. 23 for the project at a job cost of almost $12.1 million.
Site preparation contractor Morgan Corp. of Duncan, South Carolina, is the contractor on that permit.
Tatsch said the building is suited for a single tenant but can be subdivided.
Cecil Commerce Center
Cecil Commerce Center is generally between Interstate 10 and Normandy Boulevard, with some property south of Normandy, on both sides of the parkway. It is west of Interstate 295.
The city is the property owner. Hillwood is the operator.
The city’s master development agreement calls for Hillwood to build-out AllianceFlorida on about 4,499 acres of city property, the former Naval Air Station Cecil Field, off Normandy Boulevard and 103rd Street in West Jacksonville.
That agreement is designed for the city to share in the profits. As the master developer, Hillwood typically secures the tenant, buys the land from the city, develops the project and then sells it, sharing the proceeds with the city.
Tatsch said in January 2024 that Hillwood has developed about 3.225 million square feet at AllianceFlorida.
That includes the two 1 million-square-foot centers for online retailers Amazon.com on about 86.5 acres and home-furnishings company Wayfair on 80 acres.