Goodman to have $3b U.S. development pipeline
Australia-based Goodman Group has announced it is on track to own more than $3 billion of U.S. assets under management. Goodman’s U.S. platform remains focused on the core logistics and industrial markets of Southern California’s Inland Empire, Greater Los Angeles, Northern New Jersey and Central Pennsylvania.
Through Goodman North America Partnership, its investment partnership with Canada Pension Plan Investment Board, the group has committed total equity of $2 billion, with a current development and investment pipeline of $1.7 billion. This will provide 15.1 million square feet of warehouse and logistics space across 12 sites. Including sites in various stages of acquisition, this pipeline is expected to exceed $3 billion in the short to medium term.
To date, Goodman has completed 2.2 million square feet in the Inland Empire West market in Southern California and currently has three active projects in the Inland Empire West market and Greater Lo