BGO Completes First-Ever All-Electric Net Zero Carbon Speculative Industrial Building Development in Ontario for Sun Life

• Energy and carbon savings combined with rooftop solar panels means tenants will benefit from a 59% decrease in operating costs in the first year.
• The Fifth Line Business Park features Ontario's first all-electric Net Zero Carbon speculative industrial property, and three "Net Zero-Carbon Ready" properties developed for anytime conversion to Net Zero

TORONTO, March 06, 2024 (GLOBE NEWSWIRE) -- BGO has delivered Ontario's first all-electric net zero carbon speculative industrial building at 6750 Fifth Line in Milton, ON, one of four industrial buildings at Fifth Line Business Park owned by Sun Life Assurance Company of Canada ("Sun Life"). This first-of-its-kind 234,061-square-foot industrial building offers state-of-the-art net zero carbon specifications including, an all-electric HVAC system which is 200-300% more efficient than the standard, and a 500kW rooftop solar array that negates 100% of annual GHG emissions. Energy and carbon savings, in combination with the rooftop solar array, will result in a projected 59% reduction in annual operating costs in the first year, compared to a traditional new construction building (NECB 2017). It has achieved Canada Green Building Council's Zero Carbon Building (ZCB) Design certification and is also targeting the ZCB Performance certification.

The highly efficient facility also includes an enhanced envelope with superior roof and precast panel insulation to reduce air leakage. The all-electric building will prevent 2,151 tons of CO2 from entering the atmosphere in the first 10 years, which is the equivalent to removing 468 cars from the road.

"We continue to move intentionally and steadfastly towards meeting our net zero carbon goal by 2050 by taking demonstrable action today and delivering the first net zero carbon speculative industrial building to Ontario," said Ross Strowger, Managing Partner, BGO. "This move-in-ready building combines outstanding spatial and locational attributes with an operationally net zero carbon footprint on Day 1 to help tenants with a sustainability focus immediately meet their net zero goals too."

Sun Life, as both majority owner of BGO and an investor, has been the driving force behind this sustainable development at Fifth Line Business Park, as it pushes forward aggressively on carbon reductions throughout its real estate investment portfolio. The all-electric, net zero carbon building and three net zero carbon ready buildings at Fifth Line Business Park is the latest important milestone in Sun Life's efforts to achieve net-zero greenhouse gas (GHG) emissions in its investments and operations by 2050.

"We're thrilled to be able to partner with BGO to bring this first of its kind building to Ontario," said Randy Brown, Chief Investment Officer, Sun Life. "Greener, more energy-efficient buildings are highly sought after, and this project is a first-hand example of how Sun Life's commitment to net zero is delivering real-world emissions reductions while meeting our investment objectives. Investing sustainably is critical to the health and security of our communities, and every effort counts. We'll continue to seek opportunities to invest in projects that reduce emissions today, while delivering financial benefits now and into the future."

The Fifth Line Business Park offers four state-of-the-art industrial buildings of various flexible sizes ranging from 93,000 ? 330,000 square feet. All four buildings feature pioneering environmentally focused specifications that provide tenants with superior energy efficiencies, providing "Net Zero Carbon Ready" for Buildings 1, 3 and 4, along with the "All-Electric Net Zero Carbon" for Building 2.

The Net Zero Carbon Ready buildings include the same enhanced envelope with superior roof and precast panel insulation to reduce air leakage, as well as strengthened structural reinforcement in the roof to accommodate future rooftop solar panels and increased electrical capacity to support future transition to all-electric HVAC.

Fifth Line Business Park tenants will benefit from being strategically located on the country's most significant transportation and logistics corridor, Highway 401, which is the lifeline of the distribution of goods from Milton to every major market in Canada and the USA.

CBRE is the leasing broker and Broccolini is the development manager.

For more information on CAGBC's Zero Carbon Building standard, please visit: https://www.cagbc.org/our-work/certification/zero-carbon-building-standard/

About BGO

BGO is a leading, global real estate investment management advisor, real estate lender, and a globally recognized provider of real estate services. BGO serves the interests of more than 750 institutional clients with approximately $83 billion USD of assets under management (as of December 31, 2023) and expertise in the asset management of office, industrial, multi-residential, retail and hospitality property across the globe. BGO has offices in 28 cities across fourteen countries with deep, local knowledge, experience, and extensive networks in the regions where we invest in and manage real estate assets on behalf of our clients in primary, secondary and co-investment markets.

BGO is a part of SLC Management, the institutional alternatives and traditional asset management business of Sun Life.

The assets under management shown above includes real estate equity and mortgage investments managed by the BGO group of companies and their affiliates, and as of 1Q21, includes certain uncalled capital commitments for discretionary capital until they are legally expired and excludes certain uncalled capital commitments where the investor has complete discretion over investment.

For more information, please visit www.bgo.com.

Media Contact

Rahim Ladha
Global Head of Communications, BGO
[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/53622418-427d-4616-a58b-c0e85e280cf8