News: Owners Developers & Managers

Lighthouse Electrical Contracting and Zapotech Energy provide solar installation at 385,000 s/f BNY Mellon Bank

Lighthouse Electrical Contracting, Inc. of Rockland, Mass., in a joint venture with Zapotech Energy of Cambridge, has completed the solar installation atop the BNY Mellon Bank facility. The 76 kilowatt system, comprised of 364 SunTech photovoltaic panels in a 5,762 s/f array, is now on-line and supplies electric power to the 385,000 s/f office complex. The solar panels are affixed to two 125-foot by 25-foot sloped steel frames and are prominently located on the roof of the building. The BNY Mellon installation is one of the largest solar projects in greater Boston and one of the top 25 solar-electric generating projects in Mass. The solar system directly integrates into BNY Mellon's power grid and is expected to have an annual electrical power output of approximately 103,000 kilowatt-hours, resulting in electrical savings for the bank of up to $15,000 per year. The electricity generated will cover between 5% and 10% of the electricity costs at the BNY Mellon operations center facility, which houses 1,000 employees. Payback for the system is expected to be within about 5 years. The project received funding from Massachusetts Renewable Energy Trust and is part of National Grid's Congestion Relief Pilot program. Installation of the solar system was coordinated by BNY Mellon's property manager, Jones Lang LaSalle. Lighthouse Electrical and Zapotech Energy worked in tandem on a project team that included project designer Symmes Maini & McKee Associates of Cambridge. Lighthouse supervised a field crew ranging from 3 to 8 electricians from IBEW Local 103. The project commenced in January and was completed, on Earth Day, April 22nd, when the system went on-line. The ribbon-cutting ceremony for the facility was attended by numerous state and local officials, including Lt. governor Timothy Murray and Everett mayor Carlo DeMario, Jr.
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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