Goodman Group Expands Global Data Center Power Bank
The industrial property firm reported 6.6 gigawatts of power capacity at the end of September and reaffirmed its fiscal 2027 earnings growth target.
Updated on Nov. 3, 2026 in Commercial
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Goodman Group increased its global power bank to 6.6 gigawatts at the end of September, up from 6.4 gigawatts three months earlier. The company also reaffirmed its fiscal 2027 guidance of 9.0% growth in operating earnings per security.
Why it matters
Demand for data centers continues to grow, while constraints around power, land, planning, and infrastructure delivery are limiting supply. Secured power capacity and leasing commitments indicate how property owners are positioning to meet that demand.
Goodman Group's global power bank reached 6.6 gigawatts at the end of September, against 6.4 gigawatts three months earlier, and its total assets under management rose to A$90.0 billion. Negotiations for full building commitments from hyperscale customers on several sites were still ongoing at the time of the update.
The players
Goodman Group
Goodman Group is a Sydney-based industrial property group that develops and manages logistics, industrial, and data-center assets across global markets.
The details
Goodman Group signed a 20-year lease with a global hyperscale customer in August for the first 50 megawatt phase of the Tsukuba Tech Central data-center campus in Greater Tokyo. The company said it is securing data-center leases and advancing sites in parallel with project construction.
Timeline
August: Goodman Group signed the 20-year Tsukuba Tech Central lease and reaffirmed its guidance.
End of September: Global power bank reached 6.6 gigawatts and portfolio occupancy stood at 95.5%.
Fiscal 2027: Goodman Group targets 9.0% growth in operating earnings per security.
Commercial Real Estate Trajectory
Global data-center demand is pushing commercial property owners to secure grid power and hyperscale leases before building out new campuses. Goodman Group's expansion of its power bank reflects that shift from traditional warehouse leasing toward power-intensive digital infrastructure.
Businesses leasing industrial or logistics space may see increasing competition for power-ready sites as hyperscale data-center tenants expand. Tenants in commercial property may also face shifting availability as owners prioritize long-term digital infrastructure leases.
The takeaway
Power access is becoming a central factor in commercial real estate valuation and leasing decisions. Businesses planning industrial or data-center projects should account for grid capacity and lead times alongside location and rent.
Further reading
Explore more Commercial real estate coverage to see how data-center demand is reshaping property markets.
Source note: This article includes information reported by Morningstar.
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