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

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
Rexford Industrial Realty co-CEOs Howard Schwimmer and Michael Frankel and 13535 Larwin Circle and 7815 Van Nuys Boulevard in Panorama City (Google Maps, Rexford)
Rexford spends $153M on six industrial properties
Rexford spends $153M on six industrial properties
Home Depot's Craig Menear, Prologis' Hamid Moghadam and land parcel in Ontario (iStock, Prologis, Getty Images, Google Maps)
Prologis signs Home Depot to 111-acre chunk of spec industrial hub in Inland Empire
Prologis signs Home Depot to 111-acre chunk of spec industrial hub in Inland Empire
Longpoint's Dwight Angelini and 16161 Raymer Street (Longpoint, Google Maps)
Longpoint in priciest deal of year for industrial
Longpoint in priciest deal of year for industrial
 Blackstone’s Kenneth Caplan and Kathleen McCarthy with  200 Old Ranch Road (Blackstone, Google Maps, iStock)
540K sf in LA figures into Blackstone’s $2.2B industrial refi
540K sf in LA figures into Blackstone’s $2.2B industrial refi
Prologis' Hamid Moghadam and 6975 Sycamore Canyon Boulevard (Google Maps)
Manufacturer flips Riverside warehouse to Prologis at $55M markup
Manufacturer flips Riverside warehouse to Prologis at $55M markup
Rexford Industrial Realty's Michael Frankel and Howard Schwimmer (Rexford, iStock)
Rexford Industrial reports 76% jump in profit
Rexford Industrial reports 76% jump in profit
BlackStone's Stephen Schwarzman with 9028 Dice Road and 20210 S Normandie Avenue (Getty, LoopNet)
SpaceX on radar as Blackstone lands $1.8B CMBS loan
SpaceX on radar as Blackstone lands $1.8B CMBS loan
27400 5th Street (Loopnet, iStock, Illustration by Shea Monahan for the Real Deal)
USPS signs its largest CA lease since 2018
USPS signs its largest CA lease since 2018
arrow_forward_ios

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

Loading...