IRVINE, CA--(Marketwired - Jul 1, 2014) - Goodman Group (Goodman or Group), Australia's largest listed industrial property group, with a global network spanning 33 cities and US$24.5 billion (A$26.4 billion) of assets under management, today announces that its wholly owned North American subsidiary, Goodman Birtcher has received entitlement approvals for the development of a proposed US$350 million logistics center in Linden, New Jersey. The proposed project is part of the recently announced US$1.4 billion development pipeline in the key US logistics markets of California, Pennsylvania and New Jersey, which provides the ability to develop 15 million s.f. of new class A logistics space.
The City of Linden's entitlement approval is an important milestone towards Goodman Birtcher's proposed redevelopment of a prime 143 acre site in Linden, New Jersey into a major logistics center. The proposed development will offer a combined total of over 2.8 million s.f. of logistics space across five high grade distribution warehouses, which are to be delivered in three phases.
The proposed logistics center, to be named Goodman Logistics Center Linden, will be strategically located in close proximity to major road, air and sea infrastructure, including direct access to the New Jersey Turnpike and just seven miles to Newark International Airport and the Port of Newark. The land was sourced through Doug Bansbach, Larry Casey and Andrew Houston of Cassidy Turley.
Brandon Birtcher, Chief Executive Officer of Goodman Birtcher said, "We are very pleased to announce the City of Linden's entitlement approval for this significant redevelopment project in New Jersey, which will be our first in the Northeast. It builds further momentum in the rollout of our $1.4 billion development program, targeting logistics locations across the US at the right time to take advantage of the recovery in US investment demand drivers and the limited supply of class A big box warehouse space."
"Goodman Birtcher acknowledges the invaluable support and positive engagement by Mayor Richard Gerbounka of City of Linden and all the city council members associated with the approval process. We value the collaborative and productive relationship that has been established, which has resulted in a quick and decisive planning outcome and we look forward to working closely with the City as we progress with our vision for Goodman Logistics Center Linden," said Mr. Birtcher.
Mayor Gerbounka said: "I've been working with Goodman Birtcher for more than 12 months and am very pleased that such a high quality developer intends to undertake the redevelopment of this site in Linden. This redevelopment project will not only serve as an economic benefit to Linden and Union County, but Goodman Birtcher has also proven to be a corporate partner that will work closely with my administration to improve our residents' quality of life. I am glad to be working with Goodman Birtcher and look forward to continuing the positive relationship we've established."
Goodman Birtcher has additional development projects in the Northeast market, which are currently at different stages of the development process and are capable of providing a total of 4.7 million s.f. of new class A logistics space.
About Goodman Birtcher
Goodman Birtcher is a wholly owned subsidiary of Goodman Group. The North American Headquarters is located in Irvine, California with regional offices in Seattle, Washington and Allentown, Pennsylvania.
Goodman Birtcher was formed from a partnership in June 2012 between Goodman Group and Birtcher Development and Investments, a fifth generation development company which had been in operation since 1939 and had become one of the most respected real estate investment companies in the Western United States.
For more information please visit www.goodmanbirtcher.com
Goodman Group is an integrated property group with operations throughout Australia, New Zealand, Asia, Europe, the United Kingdom, North America and Brazil. Goodman Group, comprised of the stapled entities Goodman Limited, Goodman Industrial Trust and Goodman Logistics (HK) Limited, is the largest industrial property group listed on the Australian Securities Exchange (ASX) and one of the largest listed specialist fund managers 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
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 4,000 professionals in more than 60 offices nationwide. With headquarters in Washington, DC, the company represents a wide range of clients -- from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $25.8 billion in 2013, manages approximately 400 million square feet on behalf of institutional, corporate and private clients and supports more than 24,000 domestic corporate services locations. Cassidy Turley serves owners, investors and tenants with a full spectrum of integrated commercial real estate services -- including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. Cassidy Turley enhances its global service delivery outside North America through a partnership with GVA, giving clients access to commercial real estate professionals in 65 international markets. Please visit www.cassidyturley.com for more information about Cassidy Turley.