Federal Realty Investment Trust announced that it has partnered with Car Charging Group, Inc. (OTCBB: CCGI), a provider of electric vehicle (EV) charging services, to install electric vehicle (EV) charging stations across Federal Realty's portfolio of 18.6 million square feet of high quality retail assets in strategically selected metropolitan markets in the Northeast, Mid-Atlantic and California.
"Besides the obvious environmental benefits, a big advantage of electric cars will be the ability to conveniently charge your vehicle when you're already stopped somewhere on your daily routine," said Michael D. Farkas, chief executive officer of Car Charging Group. "Because of its prime locations across the nation, Federal Realty's unique retail and mixed use destinations serve as popular gathering places within their communities, making them perfect locations to top off your EV battery while you shop or dine."
During the first phase of the program, EV charging stations will be installed at the following Federal Realty Investment Trust properties:
- Santana Row in San Jose, California
- Bethesda Row in Bethesda, Maryland
- Congressional Plaza and Rockville Town Square in Rockville, Maryland
- Pentagon Row and The Village at Shirlington in Arlington, Virginia
At these locations, Car Charging Group will install Level II, 240-volt, EV charging stations, manufactured by Coulomb Technologies, the leading EV charging solutions company. Users will have access to the ChargePoint® Network, the largest global online network connecting EV drivers to unoccupied charging stations. Car Charging Group will provide flexible payment options, the ability to make reservations, and tracking of customer usage patterns, energy use, costs and revenues, all via the ChargePoint Network's cloud-based software service plans for managing EV charging operations. Through the network, EV drivers benefit from ChargePoint mobile apps (iPhone, Blackberry and Android), mapping services and driver support services.
"Federal Realty is committed to running our business in a socially responsible manner that balances our consideration for the environment with creating long-term value for our shareholders," said Mike Kelleher, director of asset management of Federal Realty. "The partnership with Car Charging Group to install EV charging stations is the next step in the continual greening of our operations, which already includes the creation of biofuels through recycled oil and grease waste from restaurants at our Bethesda Row mixed-use development, LEED certifications at many of our recent developments as well as numerous energy efficiencies and minimized usage of natural resource at a number of properties throughout the portfolio."