Australia-based global industrial real estate company, with a global network spanning 17 countries and approximately $35 billion of assets under management, Goodman Group has acquired two of the largest industrial estates in the Los Angeles market.
Totaling 127 acres, the industrial estates include the 90 acre former Boeing C-17 manufacturing plant in Long Beach, Calif. renamed the ‘Goodman Commerce Center Long Beach’ and a 37 acre former distribution center in Los Angeles, Calif. renamed the ‘Goodman Commerce Center Los Angeles.’
“Supply across the Los Angeles market is heavily constrained with a current total vacancy rate of approximately one percent. This makes the size and location of these facilities beneficial to prospective customers looking to improve their delivery speed to market. This will be the first time these sites have been available to customers, having been owned and occupied by the former owners for a long period of time,” said Anthony Rozic, CEO of Goodman North America.
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Brett Hardy, Todd Anderson and Jeff Read from Newmark Knight Frank represented Boeing to complete the transaction of the former Boeing C-17 manufacturing plant in Long Beach and David Norrie from CBRE was instrumental in the transaction of the former distribution center.