USAA Real Estate to Build $200M Amazon Fulfillment Center
By Balazs Szekely, Associate Editor
An Amazon warehouse will be built on a nearly 80-acre site acquired by RELP Tampa LLC. The site was purchased from South Shore Corporate Park LLC for $14.6 million last Thursday.
County and state officials hope the yet-to-be-built $200 million, 1.1-million-square-foot, fulfillment center will breathe life into a still-struggling corner of the community. The project is expected to bring 1000 permanent jobs, out of which 375 would pay above the state average, as well as seasonal and construction work to Hillsborough county.
The seller is an affiliate of Minneapolis-based Ryan Companies U.S. Inc., while the buyer is USAA Real Estate Co., operating as RELP Tampa.
According to Tampa Bay Business Journal, over the past two years USAA Realco has already built seven Amazon fulfillment centers totaling about 8 million square feet of warehouse space. This project has gone public in June when the online retail giant announced that it will open its first Florida distribution center.
Speculation had originally pointed to sites in Hillsborough and Polk counties, both of which considered offering financial incentives to lure a warehouse.
Hillsborough County Commissioner Al Higginbotham recently said Amazon signed a long-term lease for the property, and the incentives would not kick in until the project meets benchmarks. In July, county commissioners voted to waive half of Amazon’s property tax bill for the first seven years, about $6.4 million in total, Tampa Bay Times reported.
Image: UK distribution center Photo courtesy of James Allan via Wikimedia CommonsTags: Acquisitions/Dispositions, Al Higginbotham, amazon, Brokers, Developers, Development, economy, Finance/Investment, Financiers, Hillsboro county, Industrial, Investors, Local, National, Policy, Polk county, Regional, RELP Tampa LLC, Ryan Companies U.S. Inc., South Shore Corporate Park LLC, Tampa, Tampa Lead Story, USAA Real Estate Co.