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Goodman completes 1st stage of US$1.5B business park in Japan

on April 5 completedthe first stage and commenced work on the second stage of a US$1.5 billion logisticsand business park in Chiba Newtown in Japan.

The companysaid April 6 that Stage 1 of the Goodman Business Park features a multitenant 116,000-square-meterfacility that stands four stories tall. The East Building is also "substantiallypre-leased," as of the date of the announcement.

Meanwhile,the four-story South Building, which is stage two of the project, is expected tobe completed in early 2018. It will offer 125,000 square meters of logistics space.

The GoodmanBusiness Park project was launchedin November 2014.  As reported previously,it is a master-planned, multi-use logistics and business park in the Greater Tokyoarea that is being built by Goodman Japan Development Partnership.

The Australian company's recent overseas activities include aredevelopment in the U.K.,and expansion in Brazil.