Tuesday, 22 May 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, and Damco, one of the world’s leading providers of freight forwarding and supply chain management services, part of A.P. Moller Maersk, today announced a new 10 year lease totaling 989,809 square feet in greater Los Angeles, CA. The new facility supports Damco’s commitment to servicing growing customer demand for last mile logistics space in the infill LA market.
Damco will occupy 100 percent of the space at Goodman Gateway Santa Fe Springs, a six building logistics campus set over 75 acres including 18 acres of trailer parking. The facility is located within the Los Angeles industrial market, adjacent to the I-5 and three miles east of the I-605 providing central access to the greater Los Angeles population, Port of Los Angeles / Long Beach and LAX International Airport.
“Damco works with customers across rapidly changing markets including fashion, retail, chemical, FMCG and technology to co-create supply chain optimization programs. Goodman Gateway Santa Fe Springs is a great addition to our portfolio of assets in the Southern California market. This facility deepens our commitment to our customers while enhancing our ability to provide world-class logistics services” said Bill Peratt, President of Damco Distribution Services Inc., the warehouse and distribution arm of DAMCO in North America.
Goodman North America CEO, Anthony Rozic said: “In the last two months Goodman has leased almost two million square feet of space in the infill LA market. Goodman Gateway Santa Fe Springs offers a strategic location and unparalleled access for customers targeting last mile delivery to the greater Los Angeles population. This partnership with Damco allows us to welcome a leading freight forwarding business into Goodman’s expanding Los Angeles portfolio.”
Louis Tomaselli and Zach Niles of JLL represented Goodman, David Bales and Don Smith of Lee & Associates represented Damco on the lease transaction.
Goodman Gateway Santa Fe Springs is one of a number of projects in Goodman’s current US$2.5 billion development pipeline, which will provide 17.8 million square feet 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 4.5 million square feet of Class A development product in these key logistics markets, with a further 1.7 million square feet 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.