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

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

L.A. has lowest industry vacancy rate in country (Credit: iStock)

Megadeals still happening in squeezed LA industrial market

The project site (Credit: Google Maps)

New venture Staley Point Capital plans self-storage facility in LA Opportunity Zone

6277 E. Slauson Avenue, and from left: Prologis CEO Hamid Moghadam and Rexford Industrial co-CEOs Howard Schwimmer and Michael Frankel (Credit: Google Maps)

Rexford buys industrial property from Prologis for $41M

NAI Capital Vice President of Research, Marketing, and Communications J.C. Casillas and the Port of Los Angeles (Credit: iStock)

LA’s industrial market may be at max capacity

Transwestern CEO Carleton Riser and the Inland Empire property

Inland Empire’s industrial reign continues as Transwestern buys massive Eastvale warehouse site

Terreno Realty Chairman & CEO W. Blake Baird

Terreno Realty makes another industrial play in LA

From left: Prologis CEO Hamid Moghadam, and Randall L. Stephenson, chairman and CEO of AT&T Inc, with the site

Industrial powerhouse Prologis picks up 11-acre property in Commerce

ASB CEO Robert Bellinger and Columbia Business Park

This industrial deal was one of the biggest acquisitions ever in Inland Empire