Chicago industrial space<\/a> across three properties, the portfolio is the latest expansion of GRE\u2019s portfolio, which now encompasses more than 2.8 million square feet.<\/p>\n\u201cThe Green Oaks Industrial Portfolio is a strategically important addition to our presence in Chicagoland,\u201d said Nadine Anderson, managing director of acquisitions at GRE. \u201cWe believe the market\u2019s supply-demand dynamics \u2014 combined with the portfolio\u2019s strategic location, diversified tenancy and alignment with our decarbonization strategy \u2014 make this acquisition an attractive and differentiated opportunity for us to build on our existing Chicagoland presence.\u201d<\/p>\n
The sustainable real estate of Galvanize, a global asset manager investing at the intersection of energy innovation, resilience, and intelligence, GRE has big plans for its newly acquired asset. Specifically, plans for the Green Oaks Industrial Portfolio include carrying out value-add property improvements that can help tenants address the rising costs of energy and the challenges associated with aging and inefficient mechanical systems.<\/p>\n
Plans also include a targeted reduction in on-site carbon emissions of up to 207% throughout the properties\u2019 baseline. To that end, the platform intends to implement on-site solar technology that could generate an estimated 6,760 MWh per year \u2014 roughly equivalent to powering more than 7,100 houses in Chicago for a year, according to company statements regarding the acquisition.<\/p>\n
\u201cThe acquisition of the Green Oaks Industrial Portfolio will allow us to implement our decarbonization approach in a market where strong tenant demand and aging building systems create meaningful opportunities,\u201d said Nicolette Jaze, head of sustainability at GRE. \u201cThrough electrification, energy-efficiency upgrades, and on-site renewable energy generation, we expect to significantly reduce the portfolio\u2019s carbon footprint while delivering tangible benefits to our tenants in the form of lower energy costs and improved building performance.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
The new owner’s improvement plans include reducing on-site carbon emissions of up to 207% throughout the properties\u2019 baseline, implementing on-site solar generation, and more. <\/p>\n","protected":false},"author":48,"featured_media":6837,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[6,2],"tags":[],"class_list":["post-6836","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commercial-real-estate-news","category-industrial-real-estate-news"],"acf":[],"yoast_head":"\n
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