Goodman Group (Goodman or Group), one of the world’s largest industrial property groups, with a global network spanning 16 countries and over $26 billion (A$33 billion) of assets under management, today announced it has secured a lease with leading wholesaler Costco at its Goodman Commerce Center Eastvale.
Strong leasing activity continues for Goodman Commerce Center Eastvale with Costco signing a 16 acre ground lease to construct its 152,000 square feet retail warehouse that includes a 30-position gas station. Costco’s retail warehouse is scheduled to open by the end of 2018, bringing with it hundreds of jobs and the convenience of a broad range of products.
An additional 250,000 square feet of retail space is currently available for lease and will include a mix of fast-casual dining opportunities, full service restaurants, service businesses, hotels and large format retailers to complement the Costco shopping experience. These businesses will also service the significant number of people working at Goodman Commerce Center.
The retail center is part of a larger 205 acre mixed-use development comprised of logistics, business park and retail space. Located adjacent to new residential communities, the Goodman Commerce Center Eastvale provides convenient and direct access from the Cantu-Galleano Ranch Road exit on the I-15 or from multiple entrances along Hamner Avenue.
An additional modern logistics facility totaling 373,522 square feet is also currently under construction and available for pre-lease. The logistics center will be completed in 2018 and will provide convenient access to customers and their consumers.
Anthony Rozic, CEO of Goodman North America said: “Goodman Commerce Center Eastvale has already attracted strong leasing enquiry including pre-leases of two million square feet by Amazon and 57,250 square feet by Volkswagen. Goodman is delighted to extend its relationship with Costco to North America as the retail anchor for the center, its presence will drive commerce for the overall estate and will be a long term economic driver.”
Eastvale City Manager, Michele Nissen, said “We welcome Costco to the City of Eastvale and thank Goodman for their ongoing partnership, flexibility and commitment to the long term success of the Goodman Commerce Center in Eastvale.”
The Costco lease was negotiated by Brian McDonald from CBRE and Steve McArthur from NWAP representing Costco; and Nelson Wheeler and Jim Clarkson from Strategic Retail Advisors representing Goodman.
The Goodman Commerce Center Eastvale is one of a number of projects in Goodman’s US$2.0 billion US investment pipeline, which will provide 14.9 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 12 months, Goodman has completed 2.0 million square feet of Class A development product in these key logistics markets, with a further 4.3 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.
For more information please visit: www.goodmaneastvale.com
Goodman North America