Goodman’s massive logistics center will target e-commerce tenants

Industrial developer constructing 1.5M-sf spec complex in Orange County

Los Angeles /
May.May 24, 2021 12:55 PM
Goodman CEO Greg Goodman and a rendering of the facility. (Goodman)
Goodman CEO Greg Goodman and a rendering of the facility. (Goodman)

Goodman is building a 1.5 million-square-foot spec logistics center in northern Orange County that will target e-commerce tenants.

The Australia-based industrial developer started work on the massive, four-building facility at 2099 Orangethorpe Ave. in Fullerton, eyeing a mid-2022 opening, it said.

With a boom in e-commerce amid the pandemic, industrial real estate is at a premium across the U.S. In Los Angeles, the vacancy rate for warehouse space is just 1.8 percent, the tightest in the U.S.

“It’s a supply-constrained environment with a huge population,” Goodman’s Lang Cottrell said. He added the firm was “confident” demand exists.

Goodman placed big bets on L.A.’s industrial market in 2019, buying up the Fullerton site, an Atwater Village site for around $130 million, and a 1.1 million-square-foot former Boeing property near Long Beach for more than $200 million. The firm plans to redevelop the former Boeing property into retail and industrial space. Goodman also owns a massive logistics center in El Monte — a total of 17 properties across the U.S.

Goodman has partnered with Canada Pension Plan Investment Board on many of the developments. In the decade-long deal, Goodman has invested 55 percent and CPP has provided the rest to develop industrial assets across North America. The two firms contributed an additional $2.5 billion into the partnership last year.






    Related Articles

    arrow_forward_ios
    Renderings of One Beverly Hills and Beny Alagem. (One Beverly Hills, Getty)
    Beny Alagem’s $2B Beverly Hills project gets go-ahead
    Beny Alagem’s $2B Beverly Hills project gets go-ahead
    The San Pedro Fish Market is one of the top-grossing restaurants in the U.S. (Getty, Facebook via San Pedro Fish Market and Restaurant / Photo Illustration by Alison Bushor for The Real Deal)
    San Pedro Fish Market plans new “supersize” restaurant
    San Pedro Fish Market plans new “supersize” restaurant
    The Chateau Marmont (Getty) and protest signs (Unite Here Local 11)
    Chateau Marmont workers say iconic West Hollywood hotel misused rescue funds
    Chateau Marmont workers say iconic West Hollywood hotel misused rescue funds
    15301 Springdale Street and Crown Associates president Mitchell Bloom. (LinkedIn, CBRE)
    SARES REGIS sells Orange County warehouses to Crown Associates for $35.3 million
    SARES REGIS sells Orange County warehouses to Crown Associates for $35.3 million
    Small Business Administration administrator Isabel Guzman (Getty, iStock)
    Starved for relief: Restaurants seek $76B, far more than budgeted
    Starved for relief: Restaurants seek $76B, far more than budgeted
    California is waiting to adopt the CDC maskless decision. (Getty)
    California still says mask up at office, for now
    California still says mask up at office, for now
    Hudson Pacific Properties CEO Victor Coleman with 3400 Hillview and 3176 Porter (Getty, HPP)
    Hudson Pacific posts profit after 2 straight quarters of losses
    Hudson Pacific posts profit after 2 straight quarters of losses
    Mariposa on 3rd
    CGI Strategies secures $42M loan on Koreatown apartment complex
    CGI Strategies secures $42M loan on Koreatown apartment complex
    arrow_forward_ios

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

    Loading...