Monday, 18 July 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 subsidiary, Goodman Birtcher, has secured a long-term lease with Volkswagen Group of America (Volkswagen) for 57,250 square feet at its Goodman Commerce Center Eastvale, California.
Goodman Commerce Center Eastvale Business Park broke ground earlier this month and has already achieved early success, securing Volkswagen as a customer. The business park is part of Goodman Commerce Center Eastvale, a 205 acre mixed-use development located directly off the Cantu-Galleano Ranch Road exit on the I-15, and offering a variety of space options, including logistics, business park, retail and medical. The Volkswagen lease follows Goodman’s recent lease with Amazon.com for the first of two, one million square feet logistics centers.
Offering new, modern commercial space the Goodman Commerce Center Eastvale Business Park is comprised of three multi-tenant buildings with suites ranging from 1,200-8,500 square feet plus four freestanding buildings ranging from 20,000-40,000 square feet. With space currently available for lease, the development is scheduled to complete in the first quarter of 2017. For more information please visit: www.goodmaneastvale.com
Brandon Birtcher, CEO of Goodman Birtcher said: “We are delighted to complete this leasing deal with Volkswagen, a global customer of Goodman Group. This facility is Goodman’s fifth lease with the Volkswagen Group that now spans three regions. Goodman Birtcher looks forward to supporting Volkswagen’s growth and development here in North America as we have internationally.”
Volkswagen will invest an estimated $4.5 million to create a state-of-the-art training facility and are expected to begin operations at Goodman Commerce Center Eastvale Business Park in the first quarter of 2017. The training facility will house Volkswagen, Audi and Porsche training facilities for the purposes of technical, collision repair and sales training.
Patrick Wood, Steve Spartin, Jr. and Greg Lubar of JLL advised on the lease transaction.
Goodman Commerce Center Eastvale is one of a number of projects in Goodman Birtcher’s US$2.3 billion identified US development pipeline, which will provide 17.7 million square feet of Class A logistics space. Goodman Birtcher 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 Birtcher 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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