We have one property on the market that may suit their and our...

We have one property on the market that may suit their and our needs.Although last time i looked i think it was for lease now not for sale only. "3145 central avenue waukegan".

Perhaps mirvac have noticed this and taken it off the for sale lot waiting for the right time or offer?

http://www.theaustralian.com.au/business/property/goodman-group-sets-sights-on-us-and-south-america/story-fn9656lz-1226121547581





INDUSTRIAL property giant Goodman Group has ambitions to expand into new markets, looking for opportunities in the US and South America after consolidating its presence in Japan this week.

On Tuesday, Goodman announced its plan to develop a project in the Osaka Bay area, with an end value of $300 million, and indicated that it would step up its Japanese developments in coming months to about $800m.

Chief executive Greg Goodman said the group's ambition was to become a big player in the global logistics markets of North and South America, and further expand into the Asian markets.

Goodman, now the second-largest provider of industrial space in the world, is backed by deep-pocketed sovereign wealth funds and global pension funds. It is taking advantage of the void left by competitors shackled by heavy debt or lack of capital.

Mr Goodman said the group was considering an expansion into the US market, but that this would be done prudently and with the right team of people on the ground to assess funds management and development opportunities.


Any move into the US by Goodman would also likely be with one or more of its capital partners as a co-investor.

Goodman believes there are good opportunities in the US logistics markets, although it is the home market of its main competitor Prologis, which merged this year with AMB to form a $US46 billion ($44bn) entity.

Prologis is estimated to have about 8 per cent of the US logistics property market. Goodman's view is that the US is a big market and there is room for competition.

Although not commenting specifically on its future expansion plans, Mr Goodman has said overseas earnings, which will make up half of the group's profit this year, are set to grow significantly in future years.

He spoke enthusiastically about China during an analyst briefing on its full-year profit result last week. "We have the opportunity to turn out one million square metres of products over two years," he said.

This year, Goodman expected to complete $400m-$500m worth of projects in China, where it has also moved into second-tier cities such as Chengdu and Chongqing.

Goodman has been operating in China for five years and is well placed to acquire land through its relationships there, with funding through its partnership with Canada Pension Plan Investment Board.

One of its other equity partners is sovereign wealth fund China Investment Corporation.

Mr Goodman said Australia would always be a solid base, but future growth would come from Asia and Europe.

Goodman operates in 13 European countries, including Germany, France, Belgium and Britain. Mr Goodman said last week it would increase its projects in France.

Last year, the US-based institutional investor CB Richard Ellis Realty Trust committed $1.3bn to invest in Goodman's European projects.

Goodman will start two or three developments in Britain this year and is negotiating to sell an industrial block at "close to 100 per cent" above the book value.

Mr Goodman said: "Values in the UK are looking prospectively good for the future and we have the size, scale and good access to capital which makes us very competitive in that market."

Demand for modern logistics centres in the world is being driven by the growth in online retail sales.

"E-tailing as a percentage of the total retail revenue will increase and we are very well positioned to take advantage of building new warehouses for operations in that space," he said.

"We have built five warehouses for Amazon with two more coming out of the ground in Europe, worth about E140m ($192m)."

Countering concerns about Europe, Mr Goodman said the group's customers were large global logistics companies, which are well capitalised.

The e-tailing growth story was the same in Asia and Australia -- the reason that it is stepping up development in Japan to service Japanese third-party logistics companies.

Goodman's strategy in Japan is to invest in developments, rather than pay a premium for established prime assets, and source third-party equity to fund its growth.

The group has gearing of 23 per cent and liquidity of $1.3bn, sufficient to cover its debt maturities until 2015.

It has been sourcing lower-cost debt from the global capital markets, especially from the US private placement market and shifted its balance sheet away from short-term funding into longer-term debt markets.

Goodman is also thinking of supplementing its debt sources, and could eventually list on the Hong Kong Stock Exchange, given the substantial growth of its business in Asia.

When asked at the briefing, Mr Goodman said: "Whether it is raising equity in Hong Kong, or doing renminbi bonds, we are looking at the best sources of debt and equity in the long term."

But he said there was no immediate plan to list in Hong Kong. "We will look at what is best for our stakeholders in the long term," Mr Goodman said.

Asked about the nature of the listing, he was vague, saying it could be a second listing for the group, or floating its existing Hong Kong Logistic Fund or "something else we would think of along the way