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440 William M. McClellan Highway 

Success Story

Cargo Ventures LLC received $787,523 in financing for energy improvements to its office building at 440 William M. McClellan Highway in East Boston under the Property Assessed Clean Energy (PACE) Massachusetts program.

Through PACE Massachusetts, capital provider Greenworks Lending from Nuveen will provide financing for a range of energy upgrades that were installed to the building, including a new roof and LED lighting, as well as upgrades to the building’s HVAC system that will be installed in the coming months. This financing will be repaid via a betterment assessment on the property. Built in 1975, 440 William M. McClellan Highway is a 121,000-square-foot mixed-use warehouse building. Thirteen tenants are located at the property, including JetBlue Airways Corp., Starbucks, ABM Industries, and Panasonic. The lifetime energy efficiency savings is 1,541,380 kWh and the lifetime total savings is $459,665.

View the news article.