Goodman signs spaceflight startup to 1.3M-sf former Boeing site

Australian industrial developer acquired the facility in 2019 for more than $200M

Los Angeles /
Jun.June 30, 2021 06:00 AM
Goodman Group CEO Gregory Goodman with renderings of the facility (Goodman, Relativity Space)
Goodman Group CEO Gregory Goodman with renderings of the facility (Goodman, Relativity Space)

For this massive industrial site, attracting a suitable occupant really was rocket science.

Two years after acquiring the 1.3-million-square-foot former Boeing C-17 plant in Long Beach, Goodman has found its tenant: another aerospace firm.

Commercial spaceflight startup Relativity Space signed a 16.5-year lease at the facility, the company announced on Wednesday. It is expected to move its first employees to the site in January 2022.

Goodman, an Australian developer whose industrial portfolio spans five continents, bought the 93-acre former Boeing site at 2400 East Wardlow Rd. in 2019 for more than $200 million.

By taking on Relativity Space as a tenant, Goodman did not have to demolish and reconstruct the facility, the firm’s North American CEO, Anthony Rozic, said in a statement.

The space startup, backed by Blackrock and Fidelity as well as venture capital firms Tiger Global, 3L and ICONIQ Capital, will use the facility to build 3D-printed rockets and other launch vehicles.

The property will have the capacity to house 2,000 employees, a metallurgical lab, 3D printers and a mission control center.

Relativity’s new plant will be just the latest aerospace operation to be lured to Long Beach, following Virgin Orbit, Rocket Lab, Morf3D and SpaceX. Mayor Robert Garcia has taken to calling the area “Space Beach.” Relativity Space’s corporate headquarters are already located in Long Beach, just over two miles from the new facility.

But Long Beach is not the only California locality on Goodman’s radar for big industrial plays. Most recently, the firm began construction on a 1.5-million-square-foot logistics facility in Fullerton, targeting e-commerce tenants.





    Related Articles

    arrow_forward_ios
    Richard Lovett, co-chairman / agent, motion picture library literary, CAA (CAA)
    CAA picks JMB Realty’s new Century City tower for HQ
    CAA picks JMB Realty’s new Century City tower for HQ
    Kevin Staley, managing partner, Staley Point Capital; Andrew Terris, managing director, real estate, Bain Capital; and view of 12065 Pike Street (Google Maps, Bain Capital, Staley Point)
    Staley Point, Bain spring for beer bash
    Staley Point, Bain spring for beer bash
    Rexford Industrial Realty co-CEOs Michael Frankel and Howard Schwimmer and property at 4240 West 190th Street (Wexford Industrial Realty, Newmark)
    Rexford’s latest in South Bay brings 307K sf
    Rexford’s latest in South Bay brings 307K sf
    Microsoft CEO Satya Nadella, Activision Blizzard CEO Bobby Kotick and 2701 Olympic Boulevard (Wikipedia, Loopnet)
    Here’s how Microsoft will expand its SoCal office footprint with Activision
    Here’s how Microsoft will expand its SoCal office footprint with Activision
    11672 San Vicente Boulevard in Brentwood (Google Maps)
    Brentwood retail complex fetches $2,000 psf
    Brentwood retail complex fetches $2,000 psf
    9710 Zelzah Avenue with NMS Properties' Neil Shekhter and Bascom's Derek Chen (top right), David Kim (bottom right) and Jerry Fink (bottom left) 
    Shekhter sheds two SF Valley properties for $52.5M
    Shekhter sheds two SF Valley properties for $52.5M
    The Mix at Harman Campus at 8500 Balboa Boulevard with Shubin Nadal Realty Investors' Bill Shubin and Lonnie Nadal (Shubin Nadal Realty Investors)
    44-acre business campus in San Fernando Valley for sale
    44-acre business campus in San Fernando Valley for sale
    From left: Peter Borzak, CEO, Pine Tree; Todd Minnis, CEO, EB Arrow; 106 South Brand Boulevard (LoopNet, Pine Tree, EB Arrow)
    $64M deal for Glendale retail center bodes well for big-box
    $64M deal for Glendale retail center bodes well for big-box
    arrow_forward_ios

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

    Loading...