Stock Track | Goodman Group Soars 8.69% Intraday on Joint Venture to Develop Los Angeles Data Center

Stock Track

04/08

Goodman Group's stock soared 8.69% during intraday trading on Wednesday, following the announcement of a significant joint venture to develop a new data center facility.

The company has formed a 50/50 joint venture with DataBank to develop and launch a 32MW data center in Los Angeles. The facility, located at 3094 E Vernon Avenue in Vernon, California, is scheduled to open in December 2026 with the first 6MW capacity available. The remaining 26MW is planned to come online in phases through September 2027.

Goodman will complete development of the site it acquired in 2023, while DataBank will operate the facility, marking its second data center in the Los Angeles market. This strategic partnership represents Goodman Group's expansion into the growing data center infrastructure sector.

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