NORWALK, CONN - (BUSINESS WIRE) – July 19, 2005 – Mountain Development Corp. and OfficePower, L.L.C. announce the completion of a long-term lease agreement for OfficePower to install, own and operate a 280 kW distributed generation plant at 100 Delawanna Avenue, Clifton, New Jersey. Using state-of-the-art, gas fired generators and cogeneration equipment, OfficePower’s installation will meet a substantial portion of the building’s ongoing power and space heating requirements. This environmentally friendly “microgrid” will provide power in parallel with PSE&G’s local distribution network and independent of it during grid outages.
“OfficePower’s plant will provide our tenants with cleaner, more reliable electricity to meet their growing power demands and their increasing dependence on sophisticated computer and telecommunications systems that must be available at all times,” stated Michael Allen Seeve, President of Mountain Development.
“This installation will provide Mountain Technology Center with an efficient source of power redundancy for its high-tech tenants while helping to reduce peak load requirements on PSE&G’s electrical distribution system,” said Bob Jannino, President of OfficePower.
“Given the highly competitive leasing market in Passaic County, this low emission “microgrid” will allow Mountain Development to attract and retain high quality tenants that value both the increased power reliability and environmental benefits provided by this on-site plant,” stated David Schaiman, a noted Tri-State real estate professional.
Owned and managed by Mountain Development Corp, Mountain Technology Center is a seven story, 211,000 square foot office building that offers a wide range of tenant amenities with particular appeal to users having heavy voice, data and power requirements. Uniquely sited high atop Passaic County, the building provides a clear line of sight to Manhattan, Jersey City and Newark.
Mountain development Corp. is a privately held real estate investment company that serves as the leasing and marketing agent for a diverse portfolio of commercial, retail and industrial properties totaling approximately 3.5 million square feet in markets throughout the New York Metropolitan area. Headquartered at Mountain Technology Center, 100 Delawanna Avenue, Clifton, NJ, the company’s basic strategy is to “purchase properties where its capital, time and leadership will enhance both the value of the buildings that it acquires and the neighborhoods where these properties reside”. For additional information on Mountain Development Corp., please visit the company's web site at www.mountaindevelopment.com
OfficePower, L.L.C. is a leading provider of on-site power and cogeneration services to multi-tenant office buildings. Headquartered in Norwalk, CONN, the company owns, installs and manages distributed generation plants that provide low emission, high quality, reliable electricity and heating and cooling to both downtown and suburban office properties at no capital cost to building owners. For additional information on OfficePower, L.L.C., please visit OfficePower’s web site at www.officepowerllc.com.
EDITOR’S NOTE: Interviews with Joel R. Wilson, CEO, and Robert W. Jannino, President, are available.
Contacts:
OfficePower, L.L.C.
Joel R. Wilson, CEO
203-852-0620 Ext 107
jrw@officepowerllc.com
Robert W. Jannino, President
203-852-0620 Ext 109
rwj@officepowerllc.com
Juliette Weiland & Co. Public Relations
Juliette Weiland
203-834-1359
jweiland@optonline.net
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