Irvine-based developer Goodman Birtcher has bought a pair of massive distribution centers in Los Angeles County, including a property just over the county line in Santa Fe Springs, in one of the larger industrial acquisitions seen in Southern California in recent memory.
The North American subsidiary of Australia-based Goodman Group recently completed the purchase of two industrial sites owned by Albertsons Cos. Inc., in Santa Fe Springs and the San Gabriel Valley city of El Monte.
The two infill properties total about 133 acres and fetched an estimated $240 million. They combine for a little more than 2 million square feet of distribution space.
Goodman Birtcher—one of the most active developers of large-scale industrial facilities in the U.S. in the past few years—plans to redevelop the two sites.
See the June 20 print edition of the Orange County Business Journal for more on this development.