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11/02/20
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Voit Real Estate Services has entered into an exclusive collaboration with Tangerine Energy, an energy development company that is working to positively impact the environment and provide grid stabilization to local geographies in California. The new venture aims to lease and/or acquire as many as 50 industrial warehouse and/or land sites per year over the next five years to house battery storage centers in population-dense geographies that experience significant price volatility.
“This strategy is a win-win for commercial property owners seeking stability in the current market” said Todd Holley, SIOR, senior vice president in Voit’s San Diego office. “Each industrial warehouse or land site will be either acquired or fully leased by a credit tenant for up to a 15-year term. This delivers stabilized, cash flow assets – a welcome addition to most investors’ portfolios in uncertain times.”
Holley, who co-leads collaboration initiatives alongside Voit senior vice president and partner Michael Mossmer, SIOR notes that this marks one of Voit’s first formal expansions into the energy sector. According to Holley, battery storage sites require significantly less space than solar farms and can be integrated throughout high density areas, to serve the needs of local markets.
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