Industrial property powerhouse Goodman Group will use its strong balance sheet to snap up existing warehouses from highly leveraged owners that have to sell, while it also focuses on realising a $50 billion data centre development opportunity driven by AI.

As part of a first quarter operational update that included Goodman re-affirming its full-year guidance of 9 per cent growth in operating earnings per share, chief executive Greg Goodman said the global asset owner would look to buy opportunistically from those that “need to sell”.