STORE SPACES

Jersey Gardens to sport one of largest rooftop solar systems in North America

BY Katherine Boccaccio

Elizabeth, N.J. — Glimcher Realty Trust, owner of Jersey Gardens outlet mall in Elizabeth, N.J., said that it has begun the installation for one of the largest single-roof top solar systems in North America.

The 4.8 megawatt solar array will generate enough power to offset 11% of the electrical consumption of the mall.

Jersey Gardens, with 1.3 million sq. ft. of leasable space, features tenants such as Gap Outlet, H&M, Lord & Taylor Outlet, Neiman Marcus Last Call, Nike Factory Store and Saks Fifth Avenue Off 5th.

The addition of a solar array to Jersey Gardens was made possible through a partnership with Gerding Edlen Development, and Gerding Edlen Sustainable Solutions, a subsidiary of Gerding Edlen.

“Jersey Gardens is already known as a premier international shopping destination and has been an innovator in sustainability. We are proud to be working alongside Gerding Edlen to create a model for clean and effective energy development and management,” said Marshall Loeb, president and COO, Glimcher Realty Trust.

Glimcher entered into a power purchase agreement with Clean Focus Corp., which will finance and own the system. All solar renewable energy credits and environmental benefits associated with the system will be owned by Clean Focus. Jersey Gardens will buy the electricity at a predetermined, predictable price, providing a long-term hedge against rising power prices with no initial capital investment.

The Jersey Gardens solar system will be designed, installed, and maintained by SunPower Corp. The SunPower T5 Solar Roof Tile is the solar industry’s first non-penetrating rooftop product that combines a high-efficiency SunPower solar panel, frame and mounting system into a single, pre-engineered unit. Tilted at a 5-degree angle, the system will approximately double the energy generated per square meter compared to other systems that are mounted flat onto commercial rooftops.

“At 4.8 MW on a single rooftop, this is a milestone solar installation made possible with SunPower’s high-efficiency panels and T5 Solar Roof Tile system,” said Tom Leyden, managing director at SunPower. “By hosting this system, Jersey Gardens will reliably maximize its savings on electricity costs over the next 20 years or more.”

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OPERATIONS

Bloom implements iPhone application

BY Staff Writer

Salisbury, N.C. — Grocery chain Bloom said Tuesday it has introduced a free iPhone application that will allow its customers to access weekly specials, search recipes, manage shopping lists and find their nearest Bloom.

"At Bloom, we look for opportunities to leverage technology to enhance our guests shopping experience," said Tammy DeBoer, VP of Bloom. "This new mobile application, from Mercatus, is user-friendly and makes it easy for our shoppers to connect with us and plan family meals."

The new mobile application, developed in partnership with Mercatus Technologies, gives guests easy access to weekly specials with the capabilities to build and manage virtual shopping lists and view delicious recipes through the grocer’s Taste Mapper system.

Bloom is a subsidiary of Brussels-based Delhaize Group and operates 49 stores in the Southeast Virginia and Washington, D.C., areas.

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FINANCE

Aletheia again reduces stake in Barnes & Noble

BY Staff Writer

New York City — A report by the Associated Press on Tuesday said that private equity firm Aletheia Research & Management has once again reduced its stake in Barnes & Noble.

The major shareholder, which Barnes & Noble has said joined forces with Ron Burkle last year during a proxy fight, has for the second time in a month cut its shares, now owning about 3.2 million shares, or 5.4% of Barnes & Noble’s outstanding stock, according to a Securities and Exchange Commission filing on Tuesday.

Aletheia is now Barnes & Noble’s third-largest stakeholder, behind Burkle’s Yucaipa Cos., which holds nearly 20%, and chairman Leonard Riggio and his family, who hold nearly 30% of the shares.

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