LOS ANGELES, June 11, 2015 /PRNewswire/ -- Goodman Group, one of the world's largest industrial property groups, with a global network spanning 16 countries and $23 billion (A$30.3 billion) of assets under management, today announces that its wholly owned North American subsidiary, Goodman Birtcher has 100% leased the 1.6 million square foot Goodman Logistics Center Rancho Cucamonga to Georgia-Pacific for a long term lease.
The lease transaction has been signed one month prior to project completion and is one of the largest leases signed on an industrial development in Southern California, in the past 10 years.
Georgia-Pacific, a U.S. company based in Atlanta, Georgia, is a leading manufacturer and marketer of bath tissue, paper towels and napkins, tableware, paper-based packaging, office papers, cellulose, specialty fibers, nonwoven fabrics, building products and related chemicals. Beginning in August, a third party management company will operate a distribution facility at the Goodman Logistics Center Rancho Cucamonga to support Georgia-Pacific's consumer products business.
Brandon Birtcher, Chief Executive Officer of Goodman Birtcher said: "We are delighted to welcome Georgia-Pacific to our LEED certified Goodman Logistics Center Rancho Cucamonga. This Class A logistics campus typifies our approach to providing flexible, high quality, modern industrial space in strategic locations, capable of meeting our customers' unique operational requirements."
Goodman Logistics Center Rancho Cucamonga is situated in the Inland Empire West, with excellent access to I-10 freeway, a primary transport route to the Ports of Los Angeles / Long Beach and Ontario International Airport.
The facility is yet another project of Goodman Birtcher's $1.5 billion development pipeline, providing 15 million square feet of Class A logistics space in core US markets including California, Pennsylvania and New Jersey.
Goodman Birtcher is progressing with the rollout of its development pipeline and currently has three flexibly designed, large format logistics and warehouse developments underway in the Inland Empire market of Southern California. On completion, these developments in Rancho Cucamonga, Fontana and Eastvale will provide a combined 4.3 million square feet of prime space, suitable for a range of customer groups.
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About Goodman Birtcher
Goodman Birtcher is a wholly owned subsidiary of Goodman Group, established in June 2012 and includes the former business of Birtcher Development and Investments. The North American Headquarters are located in Irvine, California with a regional office in Allentown, Pennsylvania.
Goodman Group is an integrated property group with operations throughout Australia, New Zealand, Asia, Europe, the United Kingdom, North America and Brazil. Goodman Group, comprised of the stapled entities Goodman Limited, Goodman Industrial Trust and Goodman Logistics (HK) Limited, is the largest industrial property group listed on the Australian Securities Exchange and one of the largest listed specialist fund managers of industrial property and business space globally.
Goodman's global property expertise, integrated own+develop+manage customer service offering and significant fund management platform ensures it creates innovative property solutions that meet the individual requirements of its customers, while seeking to deliver long-term returns for investors.
About Goodman North American Partnership
Goodman North American Partnership (GNAP) was launched in August 2012 and is the investment vehicle for all North American assets developed and sourced by Goodman Birtcher.
GNAP is a partnership between Canada Pension Plan Investment Board (CPPIB) (45%) and Goodman (55%). CPPIB and Goodman have targeted an equity allocation of US$2.0 billion to GNAP.
GNAP's investment strategy is focused on the development of and investment in prime quality logistics and industrial facilities in key locations across North America. Opportunities will be sought in the key West Coast logistics hubs of Los Angeles, Inland Empire, San Francisco, and Seattle, with New Jersey and Philadelphia to be targeted on the East Coast. Other key logistics hubs based around inland ports, intermodals and tier one sea ports will also be considered.
SOURCE Goodman Group