Initiative Will Reduce Energy Consumption at Office Component of Mercer County Shopping Center
EWING, N.J., Oct. 27, 2015 – North Plainfield, N.J.-based Levin Management – one of the nation’s leading retail real estate services firms – has announced plans to install rooftop solar panels at 1001 Spruce Office Center, the office component of Capital Plaza in Ewing. Levin is exclusive leasing and managing agent for the 360,000-square-foot Mercer County shopping center.
Vanguard Energy Partners of Branchburg, N.J., a national solar construction firm, has been selected to design, install and maintain/operate the rooftop solar system. Construction is scheduled to commence later this year or early 2016.
According to Bob Carson, Levin’s executive vice-president, the project underscores the company’s proactive approach to property management, and is designed to improve the office building’s environmental and operational efficiencies. “We are always looking for new ways to enhance the value of the shopping centers we manage, with projects that will uphold and enhance our clients’ properties and, ultimately, their competitive position in the marketplace,” he said. “This project represents our company’s first foray into solar energy, and we are excited to put this technology into place at Capitol Plaza.”
The rooftop solar panels are expected to increase efficiency and reduce annual utility costs by supplementing 1001 Spruce Office Center’s electric power with a clean, alternative energy source. Government tax credits and other incentives that encourage the use of green building practices contributed to the economic feasibility of this project, according to Carson.
“The benefits of installing rooftop solar energy panels really are twofold: we are creating economic value at Capitol Plaza while at the same time reducing our carbon footprint,” he said. “A number of our larger big box tenants have expressed interest in undertaking similar projects, and these sustainable green initiatives are something that, as a company, we are continuing to explore.”
Located on the heavily traveled North Olden Avenue at the junction of Route 206 (Princeton Avenue), Capitol Plaza serves a growing residential population of more than 245,000 people within a five-mile radius. The marketplace offers an average household income of more than $79,000 and a daily traffic count of 51,000 vehicles.
The center’s diverse mix of national and regional tenants including dd’s Discounts, Forman Mills, Marshalls, Save-A-Lot supermarket, American Furniture, Planet Fitness, Harbor Freight Tools, Ashley Stewart, GNC, the U.S. Armed Forces Career Center, Foot Locker and Kicks USA, along with numerous service and restaurant tenants. Capitol Plaza also is home to the newly expanded 30,500-square-foot Jersey College.
Levin Management maintains a strong focus in the northeastern United States and an owner’s approach to the business. The firm offers a full range of services for a diverse portfolio that encompasses approximately 95 properties and more than 13 million square feet, including leasing, property management, accounting, construction management and marketing. Levin serves properties ranging from neighborhood, community, lifestyle and power centers, to enclosed malls, street retail, downtown stores and mixed-use projects in New Jersey, New York, Pennsylvania, Massachusetts, Virginia and North Carolina.