Galvanize Real Estate Acquires Key Industrial Asset in NJ

Author

Slice of Real Estate Team
November 25, 2024

Key Highlights:

  • Galvanize Real Estate acquires a 608,000 sq. ft. industrial property at 150 Milford Road along the I-95 corridor, Central New Jersey.

  • Focus on decarbonization: Plans include electrification, renewable energy, and reducing carbon emissions by up to 324%.

  • Strategic location: Access to key logistics infrastructure including highways, ports, and air freight.

  • Tenant collaboration: Supporting tenant sustainability goals, addressing Scope 3 emissions, and lowering operational costs.

  • Projected impact: Avoiding approximately 65,000 metric tons of CO2e over 30 years, equal to energy use in 8,502 homes for a year.

Source: Business Wire

Notable Quotes:

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“We believe that 150 Milford serves as a perfect complement to our existing portfolio along the I-95 corridor.”

Joseph Sumberg, Managing Partner & Head at Galvanize Real Estate
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“150 Milford leverages more than 600,000 square feet of rooftop space to provide the in-place tenant with onsite renewable power.”

Nicolette Jaze, Head of ESG & Sustainability at Galvanize Real Estate
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“This acquisition aligns well with our strategic vision of investing in high-potential industrial assets in prime markets.”

Nadine Anderson, Vice President, Acquisitions at Galvanize Real Estate

Our Take:

This acquisition reinforces Galvanize Real Estate’s commitment to sustainability and innovation in industrial real estate. By integrating renewable energy, electrification, and decarbonization into its value-add strategy, GRE sets a benchmark for aligning environmental goals with commercial success. The property's strategic location and tenant collaboration further position it as a model for efficient, low-emission industrial operations.