Arsenal Trade Center on South Minisink Ave. in Sayreville — Courtesy: Trammell Crow Co.
By Joshua Burd
Rooftop solar panels are coming to a newly built, 1.1 million-square-foot logistics park in Sayreville under an agreement between its developer and a renewable energy firm.
Constructed by Trammell Crow Co. and CBRE Investment Management, the three-building Arsenal Trade Center recently hit the market on a 74-acre site less than three miles from Route 9. It’s now slated to house a 10.5-megawatt solar project that will be built by Altus Power, which noted that the clean energy that it generates will be made available to tenants of the property and nearby residents through New Jersey’s community solar program.
“The introduction of this solar project in the heart of the central New Jersey industrial market marks a significant milestone in our partnership with CBRE IM and TCC and our shared commitment to delivering sustainable energy solutions,” said Brett Phillips, director of investment and structured finance of Altus Power, which is based in Stamford, Connecticut. “With the addition of these assets, we are not only expanding our footprint in the Garden State but also delivering meaningful benefits to the communities we serve.”
Arsenal Trade Center has revitalized a former chemical plant site off South Minisink Avenue and Cheesequake Road, boasting a location that’s four miles east of the New Jersey Turnpike. Buildings at the campus, which has gold certification on the U.S. Green Building Council’s Leadership in Energy and Environmental Design scale, have 40-foot clear ceiling heights, above-standard car and truck parking and abundant and scalable power availability.
Upon completion, the clean electric power generated by the solar project is expected to benefit up to 1,800 households, according to a news release.
“CBRE IM and TCC’s intent in developing Arsenal Trade Center was to meet the demand for modern logistics space while providing valuable economic development to the area,” said Jesse Harty, head of logistics for Americas direct real estate at CBRE Investment Management. “We also understand that users that want to occupy these next-generation assets are more likely to demand access to lower-cost, renewable energy to support their business operations. This community solar project with Altus Power has the ability to help our tenants reduce their energy costs and support their sustainability goals, while providing local residents with discounted solar energy.”
CBRE Chief Sustainability Officer Rob Bernard added: “This project with Altus is the latest example of how CBRE and Altus are helping to accelerate the opportunities to provide customers with access to lower-cost energy that is also carbon-free. At CBRE, we are working with our clients to show that more sustainable buildings can also be more economical — for property owners and for tenants.”
TCC leases 342,000 sq. ft. for first deal at new 1 million sq. ft. Sayreville logistics campus
