Hillwood, a real estate company started by Ross Perot and now run by his son Ross Perot Jr., recently spent a lot of money buying a huge warehouse rented out to Amazon. They paid $106.5 million for it.
This purchase is part of Hillwood’s plan to grow its business in industrial and commercial real estate in North America and Europe.
They bought a big fulfillment center in Jupiter, Florida, covering 1 million square feet. They paid about $106.50 for each square foot. This shows that Hillwood is actively looking for valuable properties in important areas.
Hillwood’s Expanding Collection
The newest thing Hillwood got is just one part of a bigger plan.
They’ve been busy working on different big projects, like a 410-home apartment area in Dallas and a $50 million project to make a distribution center in Houston look better inside, which is rented out to Target.
These moves show that Hillwood is into all kinds of real estate stuff. They’re not just about factories and warehouses; they’re also into building homes and shops that can make them a lot of money.
The Impact of Amazon
Amazon is growing in South Florida. They’re building their third big storage center in Palm Beach County, and they’re making a fourth one in Deerfield Beach. This shows that more and more storage places are needed to help Amazon deliver stuff.
Also, Amazon is looking for a big office space in Miami, about 500,000 square feet. This means they’re investing a lot of money in this area.
Jeff Bezos, the big boss of Amazon, just spent $237 million on land in Indian Creek Village. This shows that South Florida is becoming very important to Amazon.
What’s Happening in the Market
Hillwood buying and Amazon growing in South Florida show what’s happening in real estate.
Lots of businesses need spaces for selling things online, so warehouses and offices are popular.
This isn’t only in South Florida. The Bella Terra mall might sell for $300 million in Huntington Beach. It’s part of a big change across the country where old places are turned into new ones to fit what people need now.
These changes show how important it is for real estate to be in the right place and be useful for big companies like Amazon.
