Goodman Group Kicks Off Construction of 505K SF Industrial Complex in Long Beach, CA

Goodman Group has initiated the construction of Building One at Goodman Commerce Center Long Beach, a massive industrial building spanning 505,043 square feet. This development aims to cater to tenants from diverse industries such as aerospace, manufacturing, e-commerce, and warehousing.

Origins and Development

The origins of the Goodman Commerce Center Long Beach trace back to 2019, when Goodman acquired a site encompassing the Long Beach Airport area, including a 93-acre Boeing manufacturing plant. Relativity Space, which relocated its headquarters to this facility in January 2020, currently occupies the entire building. Goodman's future plans for the campus include a 77,552-square-foot facility along with Building One.

Location and Features

Situated within the Globemaster Corridor Specific Plan, Building One will occupy 24 acres at 2401 E. Wardlow Road. It will feature 61 dock doors, two grade-level doors, a 240-foot-deep truck court, and 40-foot clear heights. Tenants will have the option to customize flex office spaces. Newmark is overseeing leasing activities for Building One.

Sustainability and Infrastructure

Goodman aims for LEED certification for the facility and plans to recycle 98 percent of materials from the demolished Boeing facility. Additionally, the property will accommodate solar power infrastructure and electric vehicle charging stations. Its strategic location provides easy access to nearby Interstate 405 and other major freeways.

The Rise of "Space Beach"

The area surrounding Goodman Commerce Center Long Beach, dubbed "Space Beach," hosts numerous aerospace and defense companies, bolstered by the proximity of Vandenberg Space Force Base. SpaceX, operating at the city's port, contributes to the area's space-related activities.

Industrial Real Estate Trends in SoCal

Despite a vacancy rate higher than the national average, the Los Angeles metro area boasts significant industrial real estate sales volumes. Recent transactions, including Rexford Industrial Realty's acquisition of a $1 billion portfolio, underscore the region's prominence in the industrial real estate market, trailing only California's Bay Area in sales volume.