Leading New Jersey Commercial Property Owner Taps Rooftops to Go Solar
Solis Partners has announced that it has completed a second solar energy system installation for Federal Business Centers in Raritan Center Business Park in Edison, N.J.
Raritan Center Business Park is one of New Jersey's premier business locations with over 2,350 acres of land and approximately 15 million square feet of space for offices, laboratories, data centers, warehouses, and distribution centers. The solar energy system was installed on the roof of Federal Business Centers' 74,000 square-foot headquarters.
"By monitoring and adapting to market trends, Federal Business Centers has maintained its position as a leader in the New Jersey commercial real estate industry for over 60 years," said Jamie Hahn, co-founder and managing director of Solis Partners.
"Their commitment to solar is the most recent example of their foresighted approach to property management and customer service. They have identified solar as a means to leverage underutilized rooftop space to improve the operating efficiencies and competitiveness of their buildings."
The rooftop solar energy system will offset about 85 percent of Federal Business Centers' annual electricity consumption. Consisting of 1,372 solar panels, the system will produce approximately 426,618 kilowatt-hours of electricity in the first year of operation. Over the life of the system, this equates to the reduction of more than 7,350 metric tons of carbon dioxide emissions - roughly equivalent to the impact of taking 1,375 cars off of the road.
"We view solar as a sustainability enhancement that will allow us to reduce energy costs, improve building performance, and drive greater value into our property portfolio," said Frank Visceglia, executive vice president of Federal Business Centers. "A large percentage of a commercial building's operating expense is from energy use, so we strongly believe that a sustainable approach to our real estate investment management is crucial for the long term."
