2 Australian Companies Establish $1.3B US Logistics Platform

Major Australian pension fund manager Aware Super will acquire a 49 percent stake in a new U.S. partnership with global essential infrastructure provider Goodman Group, to invest in a $1.3 billion logistics platform, the companies announced Tuesday. 

Goodman retains a 51 percent stake in the partnership and will provide asset and property management services to the platform, based on its more than 30 years of global industrial market experience.

The platform currently owns and operates three strategically located properties in key logistics corridors and infill markets in metro Los Angeles. Each building is leased to a high-quality tenant.

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These three seed assets total nearly 2.8 million square feet on 187.3 acres of land. They are a mix of new and older properties with value-add redevelopment potential, according to the platform owners.

A Goodman spokesperson provided Commercial Property Executive with particulars on the three buildings:

Betting on the strength of industrial

Goodman noted the strength of the U.S. logistics sector, given ongoing industrial market trends such as the rise of onshoring and the growth of e-commerce, which is predicted to represent 21 percent of all American retail sales by 2027.

Aware Super Head of Property Alek Misev too emphasized the strong long-term fundamentals of the U.S. industrial sector and highlighted the desirability of the Los Angeles market, with limited supply and robust consumption patterns.

Goodman Group CEO Gregory Goodman stated that the company’s U.S. business accounts for more than 37 percent of Goodman Group’s offshore earnings.

Aware Super and Goodman Group have partnered since 2012, in Australia and Brazil.

Both digital and actual products

Just in the United States, and just so far this year, Goodman Group has hit milestones on a couple of significant projects.

In June, the company’s North American affiliate completed a 505,000-square-foot LEED Gold building at the aforementioned Goodman Commerce Center Long Beach.

Goodman Commerce Center is on the site of a former Boeing manufacturing and distribution center, which the developer acquired for more than $200 million in 2019. Since then, some of the property’s multiple buildings have been demolished, while others underwent adaptive reuse. One of the latter was a 1.1 million-square-foot structure retrofitted for Relativity Space.

And just this past month, Goodman topped out LAX01 Vernon, a 263,000-square-foot data center in Vernon, Calif., just south of Los Angeles. Upon completion in mid-2026, the facility will support 49.5 MW of power.