500 Post Road is Saving Nearly $2 Million in Energy Costs

Property Summary

500 Post Road East is a commercial office building in downtown Westport, CT with a large, publicly traded corporation (Terex) as the anchor tenant. Terex (NYSE: TEX) has been a tenant for over 20 years.

Opportunity

With an anchor tenant moving out of his 35k square foot office building, Timon Malloy of Fred French Investing, LLC knew he needed to upgrade his commercial office building to attract new tenants.  He did so with nearly $1M in C-PACE financing. In addition to mechanical upgrades, C-PACE financing allowed Timon to finance his solar project.

Contractor

Kingspan Energy is an international energy contractor specializing in commercial solar energy systems. Founded in the 1960’s, Kingspan is based out of Jessup, Maryland with a North East Office in Stamford, CT. Through their acquisition of ASAP Solar, Kingspan is an approved C-PACE contractor, and is expanding their presence in the tri-state area. Petra Construction served as the general contractor on the project and provides a wide range of services to customers in every building sector.

500 Post Road is Saving Nearly $2 Million in Energy Costs

PROJECT SUMMARY

$169,599
Year 1 Savings

$1,865,706
Total net savings over 25 years
Business Type Office
Building Type Commercial
Project Type Solar and Energy Efficiency Upgrades
Project Cost $998,466.97
Term 20 Years