Monday, 08 August 2016
Goodman Group (Goodman or Group), one of the world’s largest industrial property groups, with a global network spanning 16 countries and over $25 billion (A$33 billion) of assets under management, today announces that its wholly owned North American platform has secured a lease with Walmart for 639,473 square feet at Goodman Logistics Center Fontana, California.
Goodman’s North American platform continues to gain momentum with the recent lease transaction completed with Walmart for 100% of Goodman Logistics Center Fontana. This lease adds to Goodman's growing customer base in North America including Georgia Pacific, Amazon, Safeway, CTSI Logistics and Volkswagen Group.
Goodman Logistics Center Fontana benefits from excellent infrastructure connections, located less than one mile from the I-10, nine miles from Ontario International Airport, four miles from FedEx's international parcel hub, and approximately 60 miles from the Ports of Los Angeles / Long Beach.
Starting on the first of August, Walmart will take occupancy of the recently constructed, Class A logistics facility. Lee and Associates represented Goodman and Walmart was advised by JLL on the lease transaction.
Goodman Logistics Center Fontana is one of a number of projects in Goodman's $2.3 billion identified US development pipeline, which will provide 17.7 million square feet of Class A logistics space. Goodman continues to execute its US strategy, which is focused on growing its portfolio organically, targeting selective development and value add opportunities in the key logistics and industrial markets of Inland Empire, Greater Los Angeles, Northern New Jersey and Central Pennsylvania.
Over the last 12 months, Goodman has completed 3.3 million square feet of Class A development product in the Inland Empire West and Greater Los Angeles logistics markets, with a further 2.6 million square feet currently under construction. This is consistent with Goodman’s ongoing commitment to servicing the needs of its global customer base through the development of modern, well-located properties for long-term ownership.
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