Goodman Group expands industrial portfolio with $130M purchase: sources

The deal for the Ralph's Grocer industrial property comes as LA's industrial market remains hot

TRD LOS ANGELES /
Jun.June 19, 2019 03:00 PM
Anthony Rozic, CEO of Goodman North America, and the property (Credit: Google Maps)
Anthony Rozic, CEO of Goodman North America, and the property (Credit: Google Maps)

Industrial developer Goodman Group paid supermarket chain Ralph’s Grocer Co. about $130 million for a sprawling manufacturing facility in Atwater Village, The Real Deal has learned. Sources said the deal closed May 30.

The property spans about 37 acres on San Fernando Road near Colorado Street. Ralph’s, the grocery store, built the warehouse facility in the late 1980s. At the time, it was one of the largest automated warehouses in the country, the Los Angeles Times previously reported.

Goodman declined to comment. A representative for Ralph’s did not respond to requests for comment.

The Australia-based industrial developer has been an active investor in Southern California recently, fueling the hot industrial real estate market. It recently completed a renovation of the Goodman Industrial Center Anaheim, a two-building campus spanning 143,250 square feet. Last month, the firm also signed a 300,000-square-foot lease with Japanese food supplier Mutual Trading at its under-construction 1.2 million-square-foot facility in El Monte.

While demand for industrial properties in L.A. County remains high, industrial activity has been the strongest in the Inland Empire. In April, Exeter Property Group bought an 806,300-square-foot building in San Bernardino for nearly $98 million. The deal was one among many pricey trades that have catapulted the Inland Empire to the top spot in the country for logistics facilities.


Related Articles

arrow_forward_ios
Heather Crossner and the site (Credit: Google Maps)

Bridge Development plans distribution center outside Torrance

Bridge Development plans distribution center outside Torrance
Daniel J. Moore and the site (Credit: Rockefeller Group)

Rockefeller Group snags Inland Empire site for logistics centers

Rockefeller Group snags Inland Empire site for logistics centers
Chris DeWitt, and the property (Credit: Google Maps)

Made Goods furniture wholesaler inks giant lease in City of Industry

Made Goods furniture wholesaler inks giant lease in City of Industry
Michael Flood and the warehouse (Credit: Google Maps)

LA Food Banks pays $52M for warehouse, ending long search

LA Food Banks pays $52M for warehouse, ending long search
Brett Dedeaux and the property (Credit: Dedeaux Properties and DB&R Marketing Communications via Commercial Observer)

Dedeaux, Stockbridge boost industrial portfolio

Dedeaux, Stockbridge boost industrial portfolio
(iStock)

SoCal developers say demand for office, retail space will continue to drop

SoCal developers say demand for office, retail space will continue to drop
Aerial of inland empire industrial areas (Credit: CBRE via OBSERVER MEDIA)

The Inland Empire’s booming logistics industry is a double-edge sword

The Inland Empire’s booming logistics industry is a double-edge sword
Brookfield Asset Management CEO Bruce Flatt and Woodridge CEO Michael Rosenfeld with 101 S. Marengo Avenue, and a rendering of the building (Credit: Google Maps)

CRE investment sales in LA sank like a stone in May

CRE investment sales in LA sank like a stone in May
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...