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Goodman preleases logistics space at its latest gateway city development in Santa Fe Springs

Published 19 April 2017

Goodman Group announced it has preleased 295,267 square feet of infill logistics space to an ecommerce customer at Goodman Logistics Center Santa Fe Springs, California.

Goodman has secured a seven year lease from an online supplier of automotive parts on the first of three logistics facilities currently under construction at the Goodman Logistics Center Santa Fe Springs. Spanning 53 acres, the three building logistics campus is strategically positioned within Los Angeles' infill logistics market, located less than two miles from the I-5 and I-605. It is also 22 miles from the Port of Los Angeles Long Beach and 15 miles from Downtown Los Angeles. The customer is scheduled to take occupancy in the summer of 2017.

Two additional logistics facilities are currently available for lease and provide flexible and sustainable design options for customers requiring space ranging in size from 165,000 to 910,098 square feet. These facilities will be completed in Q4, 2017.

Anthony Rozic, CEO of Goodman North America said: "As online purchasing volumes increase, our customers want and need to be closer to their own customers and are focusing on last mile delivery. The Goodman Logistics Center inSanta Fe Springs is a high quality, Class A property, ideally suited to ecommerce providers and general logistics companies due to its location in the gateway city ofLos Angeles – home to a growing population of 18 million people.

This property is a clear demonstration of Goodman's Gateway City strategy, focused on investing in and developing high quality industrial properties in strategic locations, in and around major gateway cities globally."

Thaddeus McCormack, City Manager at the City of Santa Fe Springs welcomed the latest development from Goodman. "The City is excited to see the site developed into a positive contributor to the local economy. We applaud Goodman for its partnership with the City and for its diligence and persistence in bringing this complex project to fruition."

Goodman's partnership with the city of Santa Fe Springs continues to grow and extends beyond this project to include the recent acquisition of a six building logistics campus, totaling approximately one million square feet over 75 acres.

The Goodman Logistics Center in Santa Fe Springs is one of a number of projects in Goodman's US$2.3 billion identified US development pipeline, which will provide 17.7 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 18 months, Goodman has completed 3.3 million square feet of Class A development product in these key 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.

An onsite event will be held June 21, 2017 to celebrate completion of all pre-development works to rejuvenate the site and the commencement of the construction phase.

Source: Company Press Release