Galvanize Real Estate (GRE), the sustainable real estate strategy of Galvanize, has acquired a three-property, 280,000-square-foot industrial portfolio located in Orange County. The transaction marks GRE’s second California acquisition and fifth acquisition nationwide in the past year, bringing the strategy’s total portfolio to 3.8 million square feet.
“We view Orange County, with its strategic location, diversified economy, and limited new supply, as particularly well suited to our industrial strategy,” said Rachel Reardon, managing director, acquisitions at GRE. “Acquiring our first assets in Southern California allows GRE to capitalize on favorable market fundamentals while seeking to create value through decarbonization.”
As with GRE’s recent acquisition in the Bay Area, the business plan for the OC portfolio includes upgrading the properties with behind-the-meter solar energy generation, battery storage, and electric vehicle charging infrastructure. The portfolio’s planned on-site renewable energy program is expected to generate approximately 475 MWh of clean electricity annually.