Altus Power propels Sayreville logistics park with a 10.5 MW solar project

Deal News | Dec 23, 2024 | Altus Power Management LLC

Altus Power propels Sayreville logistics park with a 10.5 MW solar project

The newly developed Arsenal Trade Center in Sayreville, New Jersey, built by Trammell Crow Co. and CBRE Investment Management, is set to integrate a substantial solar project, marking a significant stride in sustainable development. The park, spanning 74 acres and located near key transport routes, will house a 10.5-megawatt solar installation by Altus Power. This initiative is part of New Jersey's community solar program, offering clean energy to property tenants and local residents. Altus Power, headquartered in Stamford, Connecticut, emphasizes the project's role in delivering sustainable energy solutions, while CBRE highlights the reduced energy costs and sustainability benefits for tenants. The park replaces a former chemical plant site and boasts high sustainability credentials, including gold certification in energy design. Upon completion, it aims to support approximately 1,800 households, reflecting a partnership focused on eco-friendly logistical solutions and economic development in central New Jersey.

Sectors

  • Renewable Energy
  • Real Estate
  • Logistics

Geography

  • United States – The project is located in Sayreville, New Jersey, within the United States.
  • New Jersey – Specific location of the Arsenal Trade Center and where the solar project will be implemented.

Industry

  • Renewable Energy – The article discusses the installation of a solar power project in a logistics park, highlighting activity in the renewable energy sector.
  • Real Estate – The development of the Arsenal Trade Center logistics park is a significant real estate project.
  • Logistics – The logistics park is designed to meet the demand for modern logistics space.

Financials

  • 10.5 megawatts – Capacity of the solar power project being developed by Altus Power.

Participants

NameRoleTypeDescription
Altus Power Management LLCRenewable energy project developerCompanyA renewable energy firm based in Stamford, Connecticut.
Trammell Crow Co.Logistics park developerCompanyA real estate development company.
CBRE Investment ManagementLogistics park developer and sustainability advocateCompanyA firm focused on real estate investment management.
Arsenal Trade CenterTarget company logistics parkCompanyA newly developed logistics park in Sayreville, New Jersey.
Brett PhillipsDirector of investment and structured finance at Altus PowerPersonA key spokesperson representing Altus Power.
Jesse HartyHead of logistics for Americas direct real estate at CBREPersonA person involved in the development of logistics solutions.
Rob BernardChief Sustainability Officer at CBREPersonInvolved in sustainability and carbon-free energy strategies.