Goodman Group's 400K SF Cypress Industrial Project Nearing Completion
Goodman Group is nearing completion on an almost 400K SF industrial project in Cypress.
The Australian developer anticipates completion of the two-building complex in northwest Orange County in the third quarter. The buildings are geared toward "light industrial customers that want to consolidate light manufacturing, storage, distribution, R&D, showroom and office facilities," a news release from Goodman says.
The property at 5755-5885 Plaza Drive in the city of Cypress, 20 miles from the Ports of Los Angeles and Long Beach, will include 36-foot clear heights and 4,000 amps per building to accommodate the power needs of robotics, automated material handling systems and electric trucks.
"The quality and location of the Cypress campus checks all the boxes for strengthening competitive advantage at this pivotal point in the evolution of the industrial sector," Goodman North America CEO Anthony Rozic said in a statement.
The industrial market in Orange County remains tight, with a vacancy rate of 1.8%, according to CBRE's fourth-quarter report. The overall availability rate was 3.8%, a bit behind the five-year average of 3.9%.
Goodman is also building 600K SF of industrial in Long Beach at a former Boeing site.
Cushman & Wakefield is the representing broker for Goodman Commerce Center Cypress.
