News: Green Buildings

Chacharone Properties partners with Solect Energy to bring solar energy to Worcester property

Worcester, MA Chacharone Properties has partnered with Solect Energy to install a 650 kilowatt (kW) solar system on the roof of its office and industrial property located at 220 Brooks St.  The installation will allow the company to grow its business while saving on energy costs.

“Solar has provided us with a new non-traditional source of revenue, improved our environmental footprint, and helped modernize our company all in order to achieve our primary goal of providing quality commercial space in Central Massachusetts,” said James Chacharone, principal at Chacharone Properties. “It’s been incredibly satisfying to witness the positive response from our tenants and business partners.”

Prior to exploring solar energy, Chacharone implemented other initiatives to go green. Many of the company’s spaces use motion sensor lighting, and the firm is in the process of converting to LED lighting. Currently, 20% of their properties have transitioned to LED lighting systems, and the company is evaluating plans for its remaining properties.

“We were happy to work with Chacharone Properties on its first solar installation,” said Alex Keally, Senior Vice President of Business Operations and Development at Solect. “By installing solar on the roof of 220 Brooks Street, Chacharone will not only reap financial benefits from the system, but also make a positive impact on the environment.”

In addition to the company’s cost savings and the environmental benefits, Chacharone has taken interest in modernizing its business. Part of that strategy includes taking advantage of the newest technology available to the commercial real estate market. The company plans on evaluating each of its existing properties, as well as its upcoming projects, for solar energy installations and will implement them where it is most beneficial to its business model and tenants.

Recently, Solar Power World named Solect Energy the number one commercial-scale contractor in Massachusetts and ranked it 92 out of 500 solar companies in the nation.

READ ON THE GO
DIGITAL EDITIONS
Subscribe
READ ON THE GO
DIGITAL EDITIONS
Subscribe
STAY INFORMED FOR $9.99/Mo.
NEREJ PRINT EDITION
Stay Informed
STAY CONNECTED
SIGN-UP FOR NEREJ EMAILS
Newsletter
Columns and Thought Leadership
Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
The New England Real Estate Journal presents<br> the First Annual Project of the Year Award! Vote today!

The New England Real Estate Journal presents
the First Annual Project of the Year Award! Vote today!

The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Investing in a falling rate environment - by Harrison Klein

Investing in a falling rate environment - by Harrison Klein

Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary