San Francisco-based asset management firm Galvanize Real Estate (“GRE”) recently announced the acquisition of an industrial portfolio property in the Boston market.

The Liberty Logistics Portfolio, located in the Metro West and Metro South areas of the market, incorporates 360,000 square feet of Boston industrial space across three buildings.

This marks GRE’s first acquisition in Massachusetts and expands the company’s portfolio to more than 3 million square feet nationwide.

“82% of the industrial real estate assets in the Greater Boston industrial market were built before 2000,” said Rachel Reardon, managing director in acquisitions at Galvanize Real Estate. “As a result, the vast majority of the well-located warehouses lack the basic functionality that modern tenants desire. This creates an exciting opportunity for GRE to modernize while we decarbonize, which we believe will create more resilient, efficient, and attractive properties for current and future tenants.”

GRE plans for the Liberty Logistics Portfolio include a mix of electrification initiatives, energy reduction opportunities, onsite renewable energy generation, and battery storage. With the cost of electricity growing, GRE plans to utilize a combination of solar and battery with the goal of increasing resiliency and achieving significant cost savings.

“From the state’s generous SMART 3.0 program to its variety of demand response programs, Massachusetts is a natural fit for GRE’s profitable decarbonization strategy,” added Nicolette Jaze, head of sustainability at Galvanize Real Estate. “We plan to tap into state programs that incentivize energy efficiency, electrification, and clean energy generation to help meaningfully reduce carbon emissions, benefitting tenants and local communities alike.”

The portfolio’s onsite renewable energy program is expected to create an estimated 2.4MW of new clean energy capacity and participation in demand response programs can also reduce strain on the local grid during critical times. As a result of these improvements and upgrades, the new owner estimates it will reduce the on-site carbon emissions by 104% (as compared to the portfolio’s baseline.)

“Boston has consistently stood out to us as a compelling market, driven by its strategic location and deep pool of skilled talent that can support the local blue-chip manufacturing industry,” said Joseph Sumberg, managing partner and head of Galvanize Real Estate. “We are pleased to enter this critically important and dynamic market by acquiring three high-quality assets, each of which is primed to benefit from our differentiated program of value creation through decarbonization.”