Wednesday, 04 March 2015
Goodman is pleased to announce that it has pre-leased 100% of the lettable area at Goodman Ichikawa in Tokyo Bay, following the signing of lease agreements with three customers, one month ahead of construction completion. Goodman has separately entered into a new build-to-suit lease agreement with Marubeni Logistics Corporation, a wholly owned subsidiary of Marubeni Corporation for a brand new, modern logistics facility on a development site in Akamatsudai, Kobe, inland Osaka.
Summary of key highlights:
Goodman Ichikawa, Tokyo Bay
Goodman Akamatsudai, Kobe, inland Osaka
Both of these modern facilities are being developed by the Goodman Japan Development Partnership (GJDP), a 50/50 joint venture between Goodman and the Abu Dhabi Investment Council. Since its inception in 2012, GJDP has undertaken a number of prime, logistics development projects in Japan, which upon construction completion and lease up, have been sold to the Goodman Japan Core Fund (GJCF) for long term ownership. GJCF remains well positioned, with a high quality, modern portfolio, strong property fundamentals, 100% occupancy and a pipeline of growth opportunities being developed by GJDP.
Goodman’s Group Chief Executive Officer, Mr Greg Goodman said, “We have a very measured approach to our investment and development activities in Japan, selectively undertaking new developments each year in locations where customer demand exceeds supply. Our leasing success at Goodman Ichikawa to multiple, high quality Japanese customers is another example of our focused approach and our local team’s execution and delivery capability.
We are also very pleased to be entering into this build-to-suit agreement with Marubeni, one of our existing Japanese customers, to assist them with the supply chain needs of ASICS, a leading Japan headquartered retailer of footwear and sports equipment. We spent more than 6 months working collaboratively with Marubeni and ASICS to find the right location and design the best warehousing solution at the right price point to meet their needs.”
Paul McGarry, Chief Executive Officer of Goodman Japan said, “We have a proven track record in Japan of sourcing off-market land opportunities and working with our customers to create a logistics solution that meets their specifications and importantly, is competitively priced in an increasingly difficult economic environment, despite the positive headwinds created by Abenomics.
Whilst we have a positive view on the outlook for the Japanese economy, it is very important to listen to our customers and create a product which meets their needs and addresses the challenges in their businesses. The result is a high quality, employee friendly facility that has been fully leased prior to completion, or in the case of Goodman Akamatsudai, fully leased prior to even acquiring the land. We have created a unique proposition in Japan with an exceptionally high level of finish and employee amenity in our facilities, at an attractive price point, which our competitors are yet to replicate. This is an important differentiator and one of the keys to our continued development and leasing success in Japan.”
For further information, please contact Goodman:
Group Corporate Communications Manager
+61 2 9230 7159
For more information visit: www.goodman.com
About Goodman Japan
For more information visit: jp.goodman.com/en