This growing demand gave Goodman the confidence to begin building his Fullerton estate on a former “cleaned up” manufacturing site about a 30-minute drive from downtown Los Angeles.
Equipped with the latest sustainability features and modern infrastructure (such as electric vehicle charging stations), the four-building campus will, when completed next spring, provide 150,000 square meters of top-notch logistics facilities to consumers. companies looking to provide same-day delivery to a pool of 20 million people with an annual purchasing power of $ 215 billion.
Anthony Rozic, CEO of Goodman North America, said he was confident his new Fullerton estate would be fully leased before completion next year.
“Based on the preliminary inquiries, we could rent this area twice,” Rozic told the Financial analysis.
“There are over 120 million meters of warehouse space in Los Angeles and a vacancy rate of just 1%. Industrial space is extremely scarce and we are convinced that there is pent-up demand from occupants.
Mr Rozic, who guided Goodman’s $ 4.5 billion US business through the worst of the pandemic, said major supply chain disruptions in the US had occurred from the start to the middle of last year, but that most of these had “largely abated”.
The disruption created the need for customers to diversify their manufacturers and the way they source their products, so there were alternatives.
“This created an opportunity to research new solutions and allowed many organizations to focus on supply chain efficiency.”
This has brought benefits to Goodman Group, which quickly reached $ 60 billion in assets under management, as it works with some of the largest retailers, wholesalers and third-party logistics service providers in the world.
“We entered into new leases of half a million square meters in China, our biggest quarter in history,” said Goodman.
“We have had a record year of work in Europe and Australia.”
He said the focus was on regenerating old sites and creating innovative developments while reducing Goodman’s carbon footprint.
At the Goodman’s Fullerton project in Los Angeles, 95% of the materials recycled on site will be used in the new construction, which will be carbon neutral.
“We want to be good corporate citizens,” said Mr. Goodman.