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Los Angeles

Los Angeles may be best known as home to Hollywood stars and Disney characters, but to those in the logistics industry, the second largest urban centre in the US is better known as one of the largest gateway cities in the world.

Greater Los Angeles is where the Port of Los Angeles / Long Beach is located. “America’s Port”, as it’s affectionately known, has long been a hub of trading activity between the US and Asia, but today, about 50 per cent of all goods arriving at this local port stay within the region.

All this activity translates to a high demand for industrial properties. Southern California’s 178 million sqm of industrial space is now the largest of its kind in the US, a fact that is even more compelling when coupled with the Greater Los Angeles industrial market vacancy rate of just 5.5%, the lowest in the country. Combine this with the high TEU volumes at the Port of Los Angeles / Long Beach (more than 15 million per annum), and a growing population of 18 million people, it’s no wonder this is a city offering ample opportunities for Goodman.
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Development services

Capitalising on this type of growth market is not always straightforward. A lack of available land for new development in the region requires an increasingly creative approach from Goodman. An example of how we’re doing this is our aquisition of a 55 acre former oil-refining site in Santa Fe Springs, California, a highly strategic location for our customers, due to its close proximity to consumers and the Ports. The site required extensive remediation, however the final product will deliver Class A distribution buildings ranging from approximately 28,000 sqm to 47,000 sqm.

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