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Gramercy Property pays $96M for Amazon distribution center in Fla.

Diversified real estate investment trust Gramercy Property Trust paid approximately $95.5 million to acquire the 1 million-square-foot Amazon.com Inc. distribution center at Cecil Commerce Center in Jacksonville, Fla., the Jacksonville Business Journal reported, citing Duval County property records.

The seller was property operator and manager Hillwood Investment Properties.

Gramercy set up a joint venture in August 2017 to acquire and operate class A distribution centers leased to e-commerce tenants across the U.S., including the proposed acquisition of an asset in Jacksonville.