Solar installation for leading dental products distributor
Dental Products Distributor
W. P. Carey funds and manages direct-owned rooftop solar installation under power purchase agreement (PPA) for existing tenant, following initial sale-leaseback in 2019
Tenant Description: National distributor of more than 30,000 dental products across the U.S.
Transaction Type: Sale-leaseback* and follow-on rooftop solar system with tenant PPA
Location: Illinois
Facility Type: Distribution facility
Green Features: Roof-mounted solar system
In 2024, W. P. Carey entered into a PPA with its existing tenant to fund and manage the installation of a roof-mounted solar system. The system became operational and began generating power in early 2025 and is expected to offset approximately 90% of the building’s total power consumption, significantly reducing the tenant’s carbon footprint and utility costs.
This sustainability improvement builds on W. P. Carey’s initial $17 million sale-leaseback of the 162,000-square-foot warehouse in 2019. Located outside Chicago near O’Hare Airport, the property serves as both the tenant's headquarters and sole distribution center and is highly critical to its operations.
W. P. Carey’s long-term ownership model and vertically integrated platform enabled the seamless execution of this follow-on solar project—reinforcing its commitment to working with tenants to meet their evolving needs.
Expected environmental impact of solar system:
- Solar System: 1,072 kW
- Anticipated power generation: 1,311,000 kWh/yr
- Anticipated carbon avoided: 585 MTCO2e/yr