The deal will see US$400 million contributed by CPPIB and US$100 million by Goodman.

Goodman chief executive Greg Goodman said the increased cash, the joint venture partners have allocated a combined US$2 billion, is to invest in and develop prime logistics space across mainland China. GCLH was formed in 2009 with an initial equity commitment of US$300 million.

Speaking at the group's annual general meeting in Sydney on Thursday, Mr Goodman said the growing significance of urban renewal was changing the industrial investment landscape in Australia.

"Goodman's urban renewal pipeline will provide opportunity for sources of long-term capital, create significant future value and we are forecasting these activities to result in $150 to $170 million valuation uplift for first half of the 2015 financial year," Mr Goodman said.

He said the ability to sell non-core land and buildings for residential conversions, was providing a solid cash flow for the business.

This comes as the strength of industrial investment activity is indicating that 2014 may be the strongest year of industrial sales volumes on record.

Transaction volumes for the first nine months of 2014 have already reached $2.9 billion, edging close to the 2013 volumes of $3.2 billion.

With the current strong pipeline of industrial transaction activity across Australia, JLL is predicting that volumes could in fact exceed the record high of $4.4 billion achieved in 2007.

JLL's Australian head of industrial, Michael Fenton has estimated that there is a pipeline of more than $1.6 billion of potential transactions that will exchange or settle in the last quarter of 2014. That means Australian industrial markets are looking at a record year, with volume not seen this strong in seven years.

"Figures for the first nine months show industrial sales volumes in 2014 increased 40 per cent on the same period in 2013 and have risen steadily each year since 2008," Mr Fenton said.

It's looking like 2014 may be the strongest year of industrial sales volume on record, eclipsing the previous highest volume of $4.4 billion in 2007."

Landmark transactions set to conclude in the fourth quarter include the Super Retail Group portfolio, which was transacted by JLL.

Mr Fenton said Sydney remains the strongest investment market for industrial across Australia, making up 47 per cent share of sales in 2014.

"Australian industrial market activity in the third quarter alone was $1.19 billion, which was led by activity in Sydney.

"There has been a clear shift in demand for Sydney and Melbourne assets.  As a result, the share of capital being invested into the likes of Perth and Brisbane is shrinking."

Mr Fenton said industrial investments remain highly sought after.

"Demand for Australian industrial investments is very high. Investors are attracted to the high entry yields on offer relative to the other commercial property sectors, the yield spread to the risk-free rate and the income return outperformance of industrial over other non-residential sectors.

"This highlights the depth of buyer demand across the spectrum of quality grades, locations and functions that the industrial sector offers.

"Very strong industrial property investment yield tightening has occurred in the last 18 months, particularly for prime grade assets. The industrial sector is being re-rated as an asset class and investors have aggressively chased core logistics assets with long-dated leases. We expect this will entice some vendors into the market in 2015 to crystallise some gains from this strong pricing cycle.

"As a result, there remains an exceptional spread available between secondary grade assets and prime grade assets in many markets and we expect to see investors exploring this space more in 2015."