Goodman completes acquisition of a prime 26,000 sqm development site in Nagoya, Japan and will develop a 51,000 sqm pre-leased modern logistics facility | |
Date | 26 April 2013 |
Release | Immediate |
+ The site is strategically located in Obu City, a prime logistics area, which is a short distance to the Nagoya CBD and Nagoya Port. It is also only 700 metres to the Toyoake Interchange of the Ise-Wangan Expressway, a major transport and logistics route between Tokyo and Osaka
+ Construction to commence shortly of a new, modern, 4-storey, ramp access, logistics and distribution facility with 51,000 sqm of net lettable area
A leading Japanese 3PL will occupy 53% of the new facility on a long term lease. Strong customer interest has already been registered for the remaining development space, with no modern logistics space available for lease in this tightly held, predominantly owner occupier market.
Goodman Japan CEO, Mr. Paul McGarry commented: "We have a clear strategy in Japan focused on acquiring prime development sites in key strategic locations. This latest acquisition and pre-lease to a high quality Japanese 3PL, is consistent with this strategy and further demonstrates our proven ability to selectively secure development opportunities via off-market transactions that meet the needs of our customers and investment partners."
Goodman Group CEO, Mr. Greg Goodman commented: "This acquisition is the fourth project in the Goodman Japan Development Partnership, a 50/50 JV with the Abu Dhabi Investment Council. The joint venture's first development project, Goodman Sakai is currently under construction with completion scheduled for March 2014, and we are in advanced negotiations with customers for 87.5% of the building. Customer demand in Japan for modern logistics remains strong and we see significant opportunity given the favourable market dynamics, our strong local platform and the quality of our global customer and capital partner relationships."
- Ends -
Goodman Limited | ABN 69 000 123 071
Goodman Funds Management Limited | ABN 48 067 796 641 | AFSL Number 223621 as responsible entity of Goodman Industrial Trust | ARSN 091213 839
Level 17, 60 Castlereagh Street, Sydney NSW 2000 | GPO Box 4703, Sydney NSW 2001 Australia
Tel +61 2 9230 7400 | Fax +61 2 9230 7444
Goodman Logistics (HK) Limited | Company No. 1700359 | ARBN 155 911 149 | a Hong Kong company with limited liability
Suite 2008, Three Pacific Place, 1 Queen's Road East, Hong Kong | Tel +852 2249 3100 | Fax +852 2525 2070 info-au@goodman.com | www.goodman.com
For further information, please contact: Mathew Werner
Group Corporate Communications Manager
Tel +61 2 9230 7159
Goodman Group is an integrated property group with operations throughout Australia, New Zealand, Asia, Brazil, Europe, North America and the United Kingdom. Goodman Group is the second largest specialist fund manager of industrial property and business space globally.
Goodman's global property expertise, integrated own+develop+manage customer service offering and significant fund management platform ensures it creates innovative property solutions that meet the individual requirements of its customers, while seeking to deliver long- term returns for investors.
For more information please visit www.goodman.com
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