Galvanize Real Estate Acquires 245,000 Sq. Ft. Industrial Asset in NJ

Author

Slice of Real Estate Team
July 07, 2024

Key Highlights:

  • Galvanize Real Estate acquires a 245,000 sq. ft. industrial asset in Southern New Jersey.

  • Focus on decarbonizing properties to achieve 100% GHG emissions reduction.

  • Plans to add rooftop solar and energy-efficient improvements.

  • Significant opportunity to enhance asset value and improve cash flow.

  • Strategic collaboration with in-house scientists and climate technologists.

Source (Business Wire)

Notable Quotes:

❝

“We acquired One Gateway for its strong real estate fundamentals and profitable decarbonization potential. GRE has been experiencing great momentum since closing on its first property in April.”

Joseph Sumberg, Managing Partner & Head at Galvanize Real Estate
❝

“One Gateway is a particularly exciting acquisition: the property is in need of a roof replacement but has an aging solar array. We believe this building would have been transitioned away from renewable energy sources and we are excited to give it new life.”

Nicolette Jaze, Head of ESG & Sustainability at Galvanize Real Estate
❝

“One Gateway embodies both our value-add and decarbonization strategies through the lease-up opportunity at a low emissions asset.”

Nadine Anderson, Vice President, Acquisitions at Galvanize Real Estate

Our Take:

Galvanize Real Estate's acquisition of One Gateway Boulevard is a strategic move that highlights the firm’s commitment to sustainability and decarbonization. This acquisition not only enhances their growing portfolio but also presents a significant opportunity to retrofit and decarbonize an industrial asset with strong real estate fundamentals. By integrating rooftop solar and other energy-efficient improvements, Galvanize aims to reduce operational emissions and increase the asset's net operating income. The collaboration with in-house scientists and climate technologists underscores their methodical approach to achieving substantial GHG emissions reductions, aligning with the broader goal of sustainable investment and environmental stewardship. This move is poised to set a benchmark in the industry for combining profitability with impactful decarbonization strategies.