Aware Super Expands In LA With $1.3B Industrial Portfolio Deal

Strategic Entry

Aware Super is making its first major move into the US industrial sector, reports CoStar. The fund has acquired nearly half of a Los Angeles-area warehouse portfolio. The deal is in partnership with Australian developer Goodman Group. The transaction includes three logistics complexes spanning 3M SF across Long Beach, Compton, and Santa Fe Springs.

Anchored By Big-Name Tenants

The properties are fully leased to major tenants. These include Amazon, shipping giant Maersk, and aerospace startup Relativity Space. Goodman will continue to hold a 51% interest and manage the sites, with both firms planning future investments in the region.

Contrarian Play Amid Market Shift

Industrial real estate has cooled in recent months. Vacancy in the US sector recently climbed to 7.5%. Despite this, Aware Super is positioning for long-term growth. “We see resilient fundamentals in infill markets like Los Angeles,” said Aware’s property head Alek Misev, emphasizing a strategy of investing through cycles.

Despite the headwinds, institutional investors have remained active. According to CoStar, roughly 35% of LA’s industrial acquisitions over the past three years have been led by institutional buyers.

Global Ties, Local Focus

The deal marks another chapter in the ongoing partnership between Aware Super and Goodman. Their collaboration began in 2012 and includes projects in Australia and Brazil. It also signals Aware’s US expansion beyond logistics, with plans to add build-to-rent housing and further industrial assets.

Goodman, meanwhile, is growing its US presence, with the Los Angeles region playing a central role. The company recently topped off its first stateside data center in Vernon and says it sees continued demand for infill infrastructure supporting digital and logistics growth.

The Bigger Picture

This isn’t Goodman’s only major global partnership in 2025. Earlier this year, Norway’s Norges Bank acquired a 45% interest in a larger US industrial portfolio co-owned by Goodman. The portfolio spans nearly 14M SF across Southern California, New Jersey, and Pennsylvania.

What To Watch

With international capital flowing into key logistics markets, Los Angeles remains a target despite short-term oversupply. For Aware Super and Goodman, this deal sets the stage for more joint US plays—particularly in markets where land is scarce and last-mile demand is steady.