Industrial and infrastructure specialist Goodman Group has begun construction on the Goodman Commerce Center, Building One: a more than 500,000-square-foot industrial property located on just under 24 acres of land.

Located between the Long Beach Airport and Relativity Space’s headquarters, Building One is envisioned to be utilized by a wide range of industries including space technology, aerospace, manufacturing, e-commerce and warehousing, according to the Australian development company.

“As Long Beach continues to evolve into a go-to destination for space-tech businesses and skilled workforce talent, Goodman is looking forward to unlocking the full potential of the Building One site to create value not only for our customers and investors, but also for the local economy and community,” Anthony Rozic, chief executive of Goodman North America, said in a statement.

Building One, according to Goodman, is intended to maximize efficiency and will include 505 car parking spaces, 89 trailer parking stalls and over 11 acres of land for ancillary use.