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| Todd Holley |
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.”
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| Michael Mossmer |
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.
“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,” Holley explains.
“Our partnership with Tangerine is a great fit for the Voit network, as we are drawing on our statewide network of offices and demonstrating the strength of our commercial reach while sourcing assets that can positively impact the California energy grid.”
Miriam Weber Miller, President of Tangerine Energy, notes, “Tangerine Energy made a decision more than a year ago to take a whole market approach to battery storage in the state of California.
"This meant we needed a real estate partner with extensive experience and reach, and the professional resources to move swiftly in a rapidly evolving market.
"We have found all of these things in our team at Voit and look forward to advancing the core Tangerine mission with Voit as our partner.”
Contacts:
Katie
Haga / Elisabeth Manville
Brower
Group
(949) 438-6262
khaga@brower-group.com
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