Long Beach’s former Boeing C-17 manufacturing site has been sold for more than $200 million to the Goodman Group, an Australia-based property development company that serves as one of the largest international landlords for Amazon.
The group closed escrow on the 93-acre site and will rename the property “Goodman Commerce Center Long Beach,” Sergio Ramirez, deputy director of the city’s Economic Development Department confirmed Friday.
Billed as one of the largest parcels of its kind in the region, the site was once the production home for Boeing’s C-17 Globemaster III cargo plane before the facility shuttered in 2015. Boeing listed the property for sale in November with an undisclosed asking price. The massive space includes a 1.1 million-square-foot assembly building.
Goodman, which boasts an estimated $44.1 billion in assets, specializes in industrial and commercial property development and management, according to its website. The company has 383 properties under management globally and is considered the largest landlord for Amazon in Asia, Europe and Australia, according to The Sydney Morning Herald.
Chief executive Greg Goodman in news reports said the company has been converting properties to residential and mixed-use projects in Australia.
While Goodman hasn’t given details on its exact plans for the site, city officials have said the company plans to work with the city on its vision for future development.
The site, adjacent to the Long Beach Airport, is part of the city’s Globemaster Corridor Specific Plan, which aims to revitalize the area as a “twenty-first century employment district.”
City Councilwoman Stacey Mungo, whose 5th District includes the site, said the property closed escrow on Thursday for more than $200 million.
Mungo on Friday said she plans to meet with Goodman to discuss residents’ visions for the area. The city also has introductory meetings planned with Goodman to discuss the Globemaster plan and timelines, she added.
“That corridor has lots of residential, so the scope of their project would really need to match what the community wants it to look like,” she said.
Future development plans and possible rezoning requirements would have to be approved by the city’s Planning Commission, she said.
The news was a disappointment for United Parcel Service, which had bid earlier this year to build a regional service hub.