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Goodman Group has gotten the green light from Long Beach to move forward with its plans to build two buildings on a 28-acre piece of the former Boeing site.
The larger of the two, a 505K SF structure designed for warehousing or manufacturing, could be complete as soon as the end of 2024, The Real Deal reported. Together, the buildings will add 600K SF of industrial inventory to the market.
The two-building project was approved by the Long Beach Planning Commission last month, TRD reported.
The former Boeing C-17 production site already has a tenant. Relativity Space, a 3D rocket manufacturer, signed a long-term lease for 1M SF in 2021. Goodman bought the site in 2019 for $240M.
Goodman has plans for two more buildings on the same property that are technically in the city of Lakewood and must be approved separately.
The Boeing property lies in and around the Long Beach Airport covered by the Globemaster Corridor Specific Plan. The plan reimagines what is possible across 437 acres surrounding the airport and was created out of a need to figure out how to utilize the area after Boeing announced it would leave the site. The plan was approved in May 2021.
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