Goodman Group (Goodman or Group), Australia’s largest listed industrial property group, with a global network spanning 32 cities and $24 billion (A$29.4 billion) of assets under management, today announces that its wholly owned North American subsidiary, Goodman Birtcher has fully leased its recently constructed 374,725 square foot Goodman Logistics Center Oakland.
Goodman Birtcher has signed a new lease with Coaster Company of America (Coaster), an importer and distributor of fine furniture, for the remaining 232,881 square feet of space at the Class A industrial warehouse, with an initial 10 year lease term. Coaster will relocate to this regional facility from Newark, CA, moving operations closer to their customer base and use the new space as its primary distribution center for the San Francisco Bay area.
A second lease commenced in 2014 with Benjamin Moore & Co. for 141,844 square feet at Goodman Logistics Center Oakland. The leading manufacturer of premium quality residential, commercial and industrial maintenance coatings has leased the space as part of a strategic expansion of its operations into the Bay area.
Brandon Birtcher, CEO of Goodman Birtcher North America said: “We are delighted to welcome Coaster and Benjamin Moore & Co. to our LEED certified Goodman Logistics Center Oakland. This Class A facility 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 Oakland was ideal due to the state-of-the-art features, central location and access to eight major freeways. With all of these characteristics we feel we will be able to better serve the needs of our customers,” said Matthew Chen, Vice President/Administration of Coaster Company of America.
Goodman Logistics Center Oakland is situated within the Oakland Airport Business Park, a business-friendly enterprise and eco-conscious industrial zone just east of the San Francisco central business district. The facility is the largest freestanding industrial warehouse built in the Greater Oakland area in the past two decades. It is also the first completed project of Goodman Birtcher’s $1.4 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 4,272,819 square feet of prime space, suitable for a range of customer groups.