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Industrial heavyweight Goodman Group has nabbed automotive giant BMW to occupy a four-storey state-of-the-art facility at its masterplanned Goodman Business Park in Tokyo.
The Australian property logistics business has signed a pre-lease agreement with BMW for a massive 70,000sq m highly-specced logistics facility due to open in October 2020.
Goodman Group, which manages a $43 billion industrial portfolio worldwide, has been at the forefront of demand for automated logistics facilities — growing its assets 24 per cent over the last year.
The 500,000sq m integrated business and logistics precinct is in Chiba Prefecture and features three logistics facilities, with stage four currently under development.
With limited available land and sky-high site costs, Tokyo is the third most expensive industrial market globally.
Related: Industrial Sector Braces for $21bn Capital Injection in 2019
The new logistics centre is the eighth development Goodman has delivered for BMW Group internationally. Goodman is soon to handover a 50,000sq m logistics facility in Leipzig, Germany to the carmaker.
Goodman Japan chief executive Angus Brooks said the group has been working closely with BMW to tailor the facility to its requirements.
“[We will] integrate the latest sustainability and technology features, and create an environment that will help BMW attract and retain the best workforce for its customers.”
The Goodman Business Park’s next milestone will be the completion of a community hub with public areas, cafes, childcare, medical clinic and retail.
