Goodman to have US$3b US development pipeline
Sydney-based Goodman Group has announced it is on track to have more than US$3 billion of US assets under management. Goodman’s US 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 US$2.0 billion, with a current development and investment pipeline of US$1.7 billion. This will provide 1.4 million square metres of warehouse and logistics space across 12 sites. Including sites in various stages of acquisition, this pipeline is expected to exceed US$3 billion in the short to medium term.
To date, Goodman has completed 204,400 square metres in the Inland Empire West market in Southern California and currently has three active projects in the Inland Empire West market and Greater Los Angeles, tot