Wednesday, 04 June 2014
US strategic progress
Consistent with its development-led strategy in North America, Goodman Birtcher has progressed through intensive land procurement and much of the planning phases since its launch in the US market in June 2012. This has enabled Goodman Birtcher to secure.
strategically located, class A sites in key logistics locations near urban centers and key transport
infrastructure across its primary target markets of California, Pennsylvania and New Jersey.
Goodman Group CEO, Mr. Greg Goodman said: “We are very pleased with the progress being
made in our North American business. Our focus over the past two years has been to assemble
a high quality portfolio of class A sites in our target locations and we are now ready to
commence the rollout of a significant development program, at a time when key US investment
demand drivers are recovering and the supply of high quality, big box warehouse space remains
Goodman currently has approximately $2.5 billion of development work in progress globally, with
North America expected to contribute around $1.4 billion to the total development workbook over
the next three years.
“As a long-term owner of high quality assets, with capital in place through our partnership with
Canada Pension Plan Investment Board, and the ability to draw on our global expertise,
development capability and customer relationships, Goodman Birtcher is well positioned to
provide our North American customers with a flexible and innovative product and service
offering.” Mr. Goodman added.
Goodman Logistics Center Rancho Cucamonga
Goodman Birtcher acquired the 74.9 acre property at Rancho Cucamonga in 2012 and is
developing a new logistics center offering a total of 1,589,946 s.f. of prime quality logistics space
at the strategically located site. The logistics center has been named Goodman Logistics Center
Rancho Cucamonga and will comprise two cross-dock facilities of 555,664 s.f. and 1,034,282
s.f., which are expected to complete in March 2015 and May 2015 respectively.
Brandon Birtcher, CEO Goodman Birtcher said: “We are very pleased to be launching the
development of Goodman Logistics Center Rancho Cucamonga. The project positions us well to
take advantage of the significant demand for class A logistics and warehousing space in the key
Inland Empire West market, particularly for Big Box facilities of greater than 500,000 s.f..”
“With over 1.6 million s.f. of new space under construction, Goodman Logistics Center Rancho
Cucamonga offers the only distribution warehouse space of this size in the local market, while its
flexible design is capable of satisfying the requirements of a broad range of customer groups.”
The two cross-dock facilities being constructed have a flexible and sustainable design, catering
to a range of potential uses and would be well suited for logistics and e-commerce customers.
Both buildings will offer a clear height of 36 feet, ample trailer parking stalls, superior site access
and maneuvering space, with generous truck court depths of a minimum 185 feet.
Goodman Logistics Center Rancho Cucamonga is well located in close proximity to transport
infrastructure, being less than one mile from the 15 freeway, less than two miles from the 10
freeway and seven miles from Ontario International Airport.
The land was sourced through William Heim, Eloy Covarrubias and Joseph Werdein of Lee & Associates Ontario, who will also serve as the listing brokers for the project.
A ground breaking event to launch its first wave of developments in Southern California, including Goodman Logistics Center Rancho Cucamonga, will take place at the Auto Club Speedway in Fontana on Wednesday, June 4. In attendance will be the Mayor of Rancho Cucamonga, Mr. Dennis Michael, together with city council members, local municipal and planning agencies, brokers and all parties directly associated with the development.
Other Southern California development opportunities
Goodman Birtcher has built a substantial land bank in the key Southern California logistics market, providing a range of opportunities to benefit from the limited supply of high grade, large format industrial space. In addition to Rancho Cucamonga, a further 269 acres of developable land is available across a number of sites, which are currently at different stages of the planning approval process.
Identified projects in Southern California include:
* All figures are in USD unless otherwise stated.
- Ends -
Goodman Birtcher is a wholly owned subsidiary of Goodman Group. The North American Headquarters is located in Irvine, California with regional offices in Seattle, Washington and Allentown, Pennsylvania.
Goodman Birtcher was formed from a partnership in June 2012 between Goodman Group and Birtcher Development and Investments, a fifth generation development company which has been in operation since 1939 and has become one of the most respected real estate investment companies in the Western United States.
Goodman currently has approximately $2.5 billion of development work in progress globally, with Goodman Birtcher expected to contribute around $1.4 billion to the total development workbook over the next three years.
Goodman Group is an integrated property group with operations throughout Australia, New Zealand, Asia, Europe, the United Kingdom, North America and Brazil. Goodman Group, comprised of the stapled entities Goodman Limited, Goodman Industrial Trust and Goodman Logistics (HK) Limited, is the largest industrial property group listed on the Australian Securities Exchange (ASX) and one of the largest listed specialist fund managers of industrial property and business space globally.
Goodman’s global property expertise, integrated own+develop+manage customer service offering and significant fund management platform ensures it creates innovative property solutions that meet the individual requirements of its customers, while seeking to deliver long-term returns for investors.