California + Bay Area + Industrial | January 5, 2023

Goodman Acquires a Trio of Bayview Industrial Properties

Goodman North America, an Orange County-based subsidiary of Australia’s largest industrial developer, has purchased three industrial properties in the Bayview District of San Francisco. The San Francisco Business Times reports the three assets were acquired for a combined total of $110 million.

The largest purchase is a 5-acre, 30,000-square-foot former USPS Distribution Center on Napoleon Street that was acquired for $83 million. Goodman grabbed two more smaller properties on Napoleon Street as well. The three buildings are zoned for production, distribution and repair, meaning they could be redeveloped into manufacturing or lab facilities, although no such plans have been filed with the city.

In June, Goodman completed the $70 million acquisition of a three-building industrial property on nearby Jerrold Avenue, which is now known as the Goodman Industrial Center. The company is attempting to lease the property, although it may raze one of the buildings due to fire damage.

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About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.