Volkswagen Lands at Goodman Birtcher Eastvale Campus
- Jul 20, 2016
By Keith Loria, Contributing Editor
Los Angeles—Goodman Birtcher, Goodman Group’s wholly owned North American subsidiary, has secured a long-term lease with Volkswagen Group of America for 57,250 square feet at its Goodman Commerce Center in Eastvale, Calif.
“It represents a global relationship in action,” Brandon Birtcher, Goodman Birtcher CEO, told Commercial Property Executive. “This is the fifth lease across three regions that we have done with the Volkswagen Group. We’ve done projects in Central Europe, Asia Pacific and now in North America.”
The deal also shows a very active demand for the site. It was just a year ago that Volkswagen Group of America first approached Goodman Birtcher—well prior to the start of construction—and identified the site as perfect for its training facility.
“It showed the demand because someone wanted to do a build-to-suit well in advance of commencement,” Birtcher said. “This will be a custom facility that will be a peerless training facility in the auto industry for our region. It will be home to approximately 20-30 full-time employees hosting approximately 150 employee students.”
The facility is one part of a planned 205-acre mixed-use business park, located directly off the Cantu-Galleano Ranch Road exit on the I-15, and offering a variety of space options, including logistics, business park, retail and medical. The Goodman Commerce Center Eastvale Business Park is comprised of three multi-tenant buildings with suites ranging from 1,200 to 8,500 square feet plus four freestanding buildings ranging from 20,000 to 40,000 square feet.
“There will be 350,000 square feet of restaurants and other service retail,” Birtcher said, “as well as medical and other support business operations adjacent to them.”
Goodman Birtcher also recently signed a lease with Amazon at the business park for a 1 million-square-foot logistics center.
According to Yardi Matrix, the continued growth of e-commerce, combined with the Inland Empire’s proximity to the ports of Los Angeles and Long Beach, has driven the industrial sector into uncharted territory. However, demand has more than kept up with the pace of supply, pushing rents and occupancy rates higher. Expansions by Amazon, Walmart and other major retailers have turned post-downturn talk of overdevelopment into a distant memory, as industrial stock nears 500 million square feet.
The development is scheduled to complete in the first quarter of 2017. Patrick Wood, Steve Spartin, Jr. and Greg Lubar of JLL advised on the lease transaction.