Rockville-based Federal Realty Investment Trust (NYSE:FRT) has struck a deal with Miami-based electric vehicle charger company Car Charging Group Inc. (OTCBB:CCGI) to install electric vehicle charging stations at Federal Realty retail sites nationwide.
The first installations will be located at D.C., Maryland, Virginia and California Federal Realty properties.
During the first phase of the program, electric vehicle (EV) charging stations will be installed at Bethesda Row in Bethesda, Congressional Plaza and Rockville Town Square in Rockville, and Pentagon Row and The Village at Shirlington in Arlington. Charging stations will also be installed at Santana Row in San Jose, Calif.
Federal Realty's has a portfolio of 18.6 million square feet of retail assets in metropolitan markets in the Northeast, Mid-Atlantic and California.
At these locations, Car Charging Group will install Level II, 240-volt, EV charging stations. Users will have access to the ChargePoint Network, a global online network connecting EV drivers to unoccupied charging stations. Car Charging Group will provide its customers with flexible payment options, and the ability to make reservations, as well as track customer usage patterns, energy use, costs and revenues. Through the network, EV drivers benefit from ChargePoint mobile apps, 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 in a statement. "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."