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WTGoodman announces a 62,000 sqm built-to-suit warehouse, expanding its development pipeline across Brazil

Thursday, 31 July 2014

WTGoodman, a prime logistics and industrial facilities developer, today announces the signing of a built-to-suit-agreement to develop a 62,000 sqm distribution centre in Minas Gerais for a large multinational, NYSE listed and Forbes 500 company. This project is in line with the company’s strategy of becoming a major player in the Brazilian logistics real estate market and enhances its development pipeline of approximately 850,000 sqm. WTGoodman has active projects across four prime logistics parks in São Paulo and Rio de Janeiro, with a current development work book of about 480,000 sqm.

Key points:

    + WTGoodman will develop a pre-committed 62,000 sqm facility for a large international company to facilitate the expansion of their Brazilian operations.
    + The new distribution centre will be located in Betim, Minas Gerais, the third largest state economy in Brazil, just behind São Paulo and Rio de Janeiro. The region is an established location for industry sectors including oil and gas, technology, retail and automotive.
    + WTGoodman is a specialist owner, developer and manager of prime logistics and industrial property. It has successfully delivered the first phase of WTGoodman IBP Logistics Park, in Rio de Janeiro, with a further three sites currently under development.
    + The new project, announced today is WTGoodman’s first built-to-suit development and highlights the company’s strategy of delivering new, high quality logistics space and building long-term relationship with customers.

The new facility is located in Betim, 30 minutes by road from the state capital, Belo Horizonte. It will have a gross lettable area (GLA) of over 60,000 sqm and will play an important role in the company’s expansion. The customer has pre-leased the new distribution centre on a 10-year term with options. Construction works are scheduled to commence shortly and will incorporate a number of the customer’s individual operational and technical requirements.

Cesar Nasser, CEO of WTGoodman, said: “We are very pleased to announce this deal, which reflects the high quality of WTGoodman's product, as well as its capacity and flexible approach in fulfilling the unique needs of all of its customers.” Moreover, Mr Nasser emphasised the importance of the new project to the area and to the WTGoodman portfolio: “Brazil´s logistics stock is going through a process of growth and modernisation. We aim to selectively build a portfolio of high quality logistics and industrial assets in Brazil’s key logistics markets.”

Consistent with its development-led strategy in Brazil, WTGoodman has focused on securing the best opportunities. Last May the company delivered the first phase of WTGoodman IBP, in Duque de Caxias, one of the prime logistics areas of Rio de Janeiro. The logistics park comprises three facilities with 16 units ranging in size from 1,800 sqm to 8,050 sqm, and providing a total 57,241sqm of lettable area. The first phase is now almost fully leased, with the second phase of development scheduled to start by the last quarter of 2014.

Three further projects are also currently in the pipeline. The first phase of the WTGoodman Itupeva Logistics Park (São Paulo state), which will provide 58,062 sqm of lettable area, is expected to be completed by the first quarter of 2015. The company also intends to start the construction of the WTGoodman Campo Grande and WTGoodman Cajamar logistics parks, located close to Rio de Janeiro and São Paulo respectively, in the first quarter of 2015. When fully built out, the four logistics parks will deliver a combined total GLA of 850,000 sqm.

WTGoodman is on track to rollout a circa R$1bn portfolio of high quality, newly developed logistics properties, which will form the cornerstone of its capital partnering program. This program is anticipated to commence in 2015.

“Importantly, we have made considerable progress in less than two years of operation, with a number of active development opportunities underway in key logistics locations, while successfully securing commitments with global and strategic customers. Our business is being positioned very well and with the disciplined execution of our business strategy, we expect to become one of the major players in Brazil’s logistics real estate market over the next two years.” Mr Nasser concluded.

- Ends -

For further information, please contact WTGoodman: 
Cesar Nasser
Tel +55 11 3759 3352

About WTGoodman

WTGoodman is a joint venture between WTorre and Goodman established in November 2012, with headquarters in São Paulo. WTorre is one of Brazil’s leaders in the development and construction of industrial warehouse, logistics facilities and commercial real estate. Goodman is an integrated property group that owns, develops and manages large-scale industrial property and business space globally. Goodman has 33 offices across Australia, China, Hong-Kong, Japan, New Zealand, North America, the United Kingdom and 11 countries throughout continental Europe. It is the largest listed industrial property group on the Australian Stock Exchange (ASX) and the second largest industrial REIT in the world.

WTGoodman combines Goodman’s global expertise as a leading specialist fund manager of industrial property and business space, extensive global customer and capital partner relationships, with the strength of WTorre’s leading market position and proven logistics development capability in Brazil.

WTGoodman will undertake the development of prime logistics and industrial properties in key markets throughout Brazil. The current WTGoodman portfolio comprises four development landsites, two of which are located in São Paulo (Cajamar and Itupeva) and two in Rio de Janeiro (IBP and Campo Grande).

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