The property was originally built in 1972 and has been repurposed into a multi-tenant 122,000 sq. ft. warehouse building by Spinnaker Real Estate Partners (managing partner and a principle investor). C-PACE financing enabled Spinnaker to harness the power of solar to reduce operating costs, exceed industry standards in sustainability, and give new life and purpose to older buildings. This program aligns with Spinnaker’s commitment to build responsibly, while simultaneously gaining a competitive advantage in the area. Across a portfolio of 3 solar projects financed with C-PACE, Spinnaker will have annual energy savings of $203,700, amounting to $4,074,005 in total energy savings over financing term.