Damco signs 10-year lease for Goodman’s one million sq ft facility in LA

Goodman $2.5bn

Goodman Group and Damco have announced a new 10-year lease totalling 989,809 sq ft in greater Los Angeles, California. The new facility supports Damco’s commitment to servicing growing customer demand for last mile logistics space in the infill LA market.

Damco will occupy 100% of the space at Goodman Gateway Santa Fe Springs, a six-building logistics campus set over 75 acres including 18 acres of trailer parking. The facility is located within the Los Angeles industrial market, adjacent to the I-5 and three miles east of the I-605 providing central access to the greater Los Angeles population, Port of Los Angeles / Long Beach and LAX International Airport.

“Damco works with customers across rapidly changing markets including fashion, retail, chemical, FMCG and technology to co-create supply chain optimization programs. Goodman Gateway Santa Fe Springs is a great addition to our portfolio of assets in the Southern California market. This facility deepens our commitment to our customers while enhancing our ability to provide world-class logistics services” said Bill Peratt, President of Damco Distribution Services Inc., the warehouse and distribution arm of DAMCO in North America.

Goodman North America CEO, Anthony Rozic said: “In the last two months Goodman has leased almost two million square feet of space in the infill LA market. Goodman Gateway Santa Fe Springs offers a strategic location and unparalleled access for customers targeting last mile delivery to the greater Los Angeles population. This partnership with Damco allows us to welcome a leading freight forwarding business into Goodman’s expanding Los Angeles portfolio.”

Goodman Gateway Santa Fe Springs is one of a number of projects in Goodman’s current US$2.5bn development pipeline, which will provide 17.8m sq ft of Class A logistics space in the key logistics and industrial markets of Inland Empire, Greater Los Angeles, Northern New Jersey and Central Pennsylvania.

Over the last twelve months, Goodman has completed 4.5m sq ft of Class A development product in these key logistics markets, with a further 1.7m sq ft currently under construction.

Source: Goodman