Goodman Launches Long Beach Industrial Park

Goodman Group has begun construction of Building One of Goodman Commerce Center Long Beach, a 505,043-square-foot industrial building located in Long Beach, Calif.

The project, scheduled for delivery in the fourth quarter, is being designed to target tenants in the aerospace, manufacturing, e-commerce and warehousing industries.

Development of Goodman Commerce Center Long Beach dates to 2019, when the firm purchased a site around Long Beach Airport which included a 93-acre Boeing manufacturing plant. Relativity Space moved its headquarters to the redeveloped facility in January 2020 and currently occupies the entire building. According to the Long Beach Business Journal, Goodman’s plans for the campus include a 77,552-square-foot facility as well as Building One. 

To the stars

Both Relativity Space’s base of operations and Goodman Commerce Center Long Beach are part of the Globemaster Corridor Specific Plan, a planned 437-acre industrial project.

Building One, to be built on 24 acres at 2401 E. Wardlow Road, will include 61 dock doors and two grade-level doors as well as a 240-foot-deep truck court and 40-foot clear heights. Additionally, the facility will offer tenants the option to build out flex office space. Newmark is the leasing agent for Building One.

Goodman is targeting LEED certification for the facility and plans to recycle 98 percent of the materials from the demolished Boeing facility. The property will also accommodate solar power infrastructure and electric vehicle charging stations.

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Building One’s location offers access to nearby Interstate 405 half a mile to the southwest. Connection to the 605 freeway is about five miles from the site, the 710 freeway is three miles away and downtown Los Angeles is 16 miles to the north. Vandenberg Space Force Base is located to the north in Santa Barbara County. 

The area has been nicknamed “Space Beach,” due to the local presence of many aerospace and defense companies as well as the proximity of Vandenberg Space Force Base. SpaceX leases 6.5 acres at the city’s Port, where it operates rocket recovery operations after launches at Vandenberg.

SoCal reigns supreme

Despite a vacancy rate higher than the national average, the Los Angeles metro boasts one of the nation’s highest sales volumes. According to CommercialEdge’s latest National Industrial Report, more than $545 million worth of transactions have closed year-to-date, trailing only California’s Bay Area.

Last month, Rexford Industrial Realty purchased a 48-property portfolio of assets in Los Angeles and Orange Counties for $1 billion. Previously owned by Blackstone, the properties total more than 3 million square feet.