Thursday, 29 March 2018
Goodman Group (Goodman or Group), one of the world’s largest industrial property groups, with a global network spanning 16 countries and over $27 billion of assets under management, today announced it has leased 915,098 square feet (s.f.) of infill logistics space at Goodman Logistics Center Santa Fe Springs, California.
Driven by the growth in e-commerce and high demand for quality properties close to large urban centers, Goodman has secured long term leases with Fashion Nova, a top online fashion store for 408,635 s.f., RIM Logistics, a global provider of logistics solutions for 312,447 s.f. and Funai Corporation, a leading edge consumer electronics company for 194,016 s.f. These leases mean that Goodman’s development is now 100% leased, having pre-leased 295,267 s.f. to McMaster Carr, an online supplier of automotive parts in 2017.
Anthony Rozic, CEO of Goodman North America said: “Strong leasing enquiry for our logistics centers is being driven by a high level of demand from rising global consumerism and the rapidly expanding e-commerce sector which grew total sales by 17% in 2017. The Goodman Logistics Center in Santa Fe Springs is a high quality, Class A property, ideally suited to e-commerce providers and general logistics companies due to its location in the gateway city of Los Angeles – home to a growing population of 18 million people.
Spanning 53 acres, the three-building logistics campus is strategically positioned within Los Angeles’ infill logistics market, located less than two miles from the I-5 and I-605. It is also 22 miles from the Port of Los Angeles Long Beach and 15 miles from Downtown Los Angeles. All customers will take occupancy at Goodman Logistics Cener Santa Fe Springs in spring of 2018.
This logistics center is a clear demonstration of Goodman’s gateway city strategy, focused on investing in and developing high quality industrial properties in strategic locations, in and around major urban centers globally.”
Laird Perkins and Dan Berkenfield of CBRE represented Goodman on the lease transactions.
The Goodman Logistics Center Santa Fe Springs is one of a number of projects in Goodman’s current US$2.3 billion development pipeline, which will provide 17.7 million s.f. of Class A logistics space in the key logistics and industrial markets of Inland Empire, Greater Los Angeles, Northern New Jersey and Central Pennsylvania.
Over the last twelve months , Goodman has completed 3.3 million s.f. of Class A development product in these key logistics markets, with a further 5.9 million s.f. currently under construction. This is consistent with Goodman’s ongoing commitment to servicing the needs of its national and global customer base through the development of modern, well-located properties for long-term ownership.