LXP Industrial Trust Partners With Wunder to Deploy Solar at Chicago Property
WEST PALM BEACH, Fla. and ROCKFORD, Ill., July 23, 2024 (GLOBE NEWSWIRE) -- LXP Industrial Trust ("LXP") (NYSE:LXP), a real estate investment trust (REIT) focused on Class A, warehouse and distribution investments, partnered with Wunder, a category-defining provider of commercial energy solutions, to deploy an on-site solar system at LXP's Rockford, Illinois industrial facility. The 207 kilowatt solar system, which came online in June 2024, is expected to deliver substantial energy bill savings to the tenant. The system is anticipated to generate 261,990 kilowatt hours of power in its first year of operation alone, offsetting more than 403,500 pounds of CO2 emissions.
Leslie Moore, SVP, Director of ESG and Corporate Operations, commented, "We are excited to add another solar installation to our portfolio to further enhance LXP's sustainability initiatives. Our partnership with Wunder provided us with an end-to-end solution without any capital outlay from LXP. We are appreciative of Wunder's expertise and persistence in completing this project."
Dave Riess, CEO of Wunder, said, "LXP continues to demonstrate their leadership in responsible and sustainable business practices by integrating solar solutions like the Rockford project. Working with the LXP team on this project was a joy and we look forward to partnering with them again on future projects, should the opportunity arise. Solar projects – like this one – represent a fantastic opportunity for real estate firms to unlock new revenue, meet ESG targets, and deliver exciting tenant benefits, all at no cost. We're committed to delivering these holistic energy solutions for real estate firms' nationwide, and providing the flexibility they demand."
ABOUT LXP INDUSTRIAL TRUST
LXP Industrial Trust (NYSE:LXP) is a publicly traded real estate investment trust (REIT) focused on class A warehouse and distribution investments in target markets across the Sunbelt and Midwest. LXP seeks to expand its portfolio through acquisitions, development projects, and build-to-suit and sale/leaseback transactions. For more information or to follow LXP on social media, visit www.lxp.com.
ABOUT WUNDER
Wunder is a leading provider of enterprise-grade energy solutions for the commercial real estate market. Some of the nation's largest and most sophisticated real estate firms and Fortune 500s rely upon Wunder to develop and programmatically execute strategic renewable energy initiatives across their real estate holdings. Proprietary technology, market expertise, and best-in-class financing partners enable Wunder to seamlessly unlock renewable energy's financial and ESG benefits, while delivering an exceptional client experience. Wunder's mission is to accelerate America's clean energy future by tackling the largest opportunity to drive down U.S. carbon emissions – the commercial and industrial sectors. To learn more, visit www.WunderCapital.com.
This release contains certain forward-looking statements which involve known and unknown risks, uncertainties and other factors not under LXP's control which may cause actual results, performance or achievements of LXP to be materially different from the results, performance, or other expectations implied by these forward-looking statements. These factors include, but are not limited to, those factors and risks detailed in LXP's periodic filings with the Securities and Exchange Commission. Except as required by law, LXP undertakes no obligation to publicly release the results of any revisions to those forward-looking statements which may be made to reflect events or circumstances after the occurrence of unanticipated events.
Contact:
Investor or Media Inquiries for LXP Industrial Trust:
Heather Gentry, Senior Vice President of Investor Relations
LXP Industrial Trust
Phone: (212) 692-7200 E-mail: [email protected]
