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Deals & Dealmakers

Signature Acquisitions Demonstrates Commitment to Sustainability with the Installation of Over 200,000 Square Feet of Solar Panels Across Class-A Office Portfolio

Signature Acquisitions, one of the region’s most active and prestigious owner/managers of Class A suburban office space, announces the completed installation of a 3.75 MW solar energy system covering 207,469 square feet of roof space across 16 buildings throughout its expansive portfolio of Class-A office buildings in New Jersey.

Begun in 2021 under the management of Greenpower Developers, LLC., a privately held, full-service commercial solar energy company based in Wall Township, N.J., the significant investment highlights the company’s commitment to sustainability as well as its focus on providing its tenants with substantial utility savings. The panels now cover all “solar suitable” roof area totaling 37% of the overall roof area on 16 of the company’s buildings.

It is estimated that the solar panels will prevent over 228 million pounds of CO2 from entering the atmosphere throughout their 35-year lifespans, the equivalent sequestration value of nearly six million trees, or the removal of 22,335 cars from the road.

Beyond the environmental savings, the panels will also generate a total of 4,536-megawatt-hours (MWh) within their first year of operation. For reference, one MWh is about equivalent to the amount of electricity used by 330 homes for one hour according to the EPA. Over the next 35 years, the solar panels will produce over 145,000 MWh, equivalent to the energy needed to power nearly 48 million homes for an hour.

“As an owner of over five million square feet of office buildings across New Jersey and New York, we recognize that we are in a tremendous position to continue to help the real estate industry become greener,” said Sandy Monaghan, SVP, Director of Leasing at Signature Acquisitions. “We are proud to have completed this ambitious initiative to make our buildings more sustainable while also promising our tenants significant long-term cost savings.”

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