The Goodman Group’s wholly owned North American subsidiary, Goodman Birtcher has launched the development of a new US$150 million logistics centre at Rancho Cucamonga in the Inland Empire West market of Southern California.
The new project signals the launch of a 15 million sq ft (1.4 million sqm) development pipeline in key US logistics markets, which will result in US$1.4 billion of development work in progress from Goodman Birtcher’s operations over the next three years.
It also follows the recent practical completion of Goodman Logistics Centre Oakland, a new US$45 million logistics facility in the Bay area’s logistics hub.
Goodman Birtcher has progressed through intensive land procurement and much of the planning phases since its launch in the US market in June 2012. This has enabled Goodman Birtcher to secure strategically located, class A sites in key logistics locations near urban centres and key transport infrastructure across its primary target markets of California, Pennsylvania and New Jersey.
Goodman Group CEO Greg Goodman said: “We are very pleased with the progress being made in our North American business. Our focus over the past two years has been to assemble a high quality portfolio of class A sites in our target locations and we are now ready to commence the rollout of a significant development program, at a time when key US investment demand drivers are recovering and the supply of high quality, big box warehouse space remains limited.”
Goodman currently has approximately US$2.5 billion (A$2.7 billion) of development work in progress globally, with North America expected to contribute around US$1.4 billion to the total development workbook over the next three years.
Rancho Cucamonga
Goodman Birtcher acquired a 74.9-acre property at Rancho Cucamonga in 2012 and is developing a new logistics centre, offering a total of 1,589,946 sq ft (148,000 sqm) of quality logistics space at the strategically located site. The logistics centre has been named Goodman Logistics Centre Rancho Cucamonga, and will comprise two cross-dock facilities of 555,664 sq ft (52,000 sqm) and 1,034,282 sq ft (96,000 sqm), which are expected to complete in March 2015 and May 2015 respectively.
The two cross-dock facilities being constructed have a flexible and sustainable design, catering to a range of potential uses and would be well suited for logistics and e-commerce customers. Both buildings will offer a clear height of 36 feet (11 metres), ample trailer parking stalls, superior site access and manoeuvring space, with generous truck court depths of a minimum 185 feet (56 metres).
Goodman Logistics Centre Rancho Cucamonga is well located in close proximity to transport infrastructure, being less than one mile from the 15 freeway, less than two miles from the 10 freeway and seven miles from Ontario International Airport.
Goodman Birtcher has built a substantial land bank in the key Southern California logistics market, providing a range of opportunities to benefit from the limited supply of high grade, large format industrial space. In addition to Rancho Cucamonga, a further 269 acres of developable land is available across a number of sites, which are currently at different stages of the planning approval process.
