CarCharging and Federal Realty Expand Electric Vehicle Charging Services at Santana Row in San Jose, California To Support Increasing Demand, Largest Owner and Operator of Electric Car Charging Services Adds Additional EV Charging Infrastructure to Silicon Valley's Premier Mixed-Use Property
Car Charging Group, Inc. (OTCQB: CCGI) ("CarCharging"), a nationwide provider of electric vehicle (EV) charging services, announced that through its partnership with Federal Realty Investment Trust (NYSE: FRT), the company has expanded the availability of EV charging services at Santana Row in San Jose, California. Santana Row is Silicon Valley's premier destination for shopping, dining, living, and working. The 647,000 square foot property features more than 70 shops, 20 restaurants, a boutique hotel and movie theatre. In addition to the dynamic retail and restaurant collection, Santana Row offers 615 luxury rental homes and 65,000 square feet of Class A office space.
CarCharging originally deployed EV charging services at the property in 2012 and over the past year, the demand for the services has continued to expand. The services have been consistently utilized, which demonstrates the need for public charging infrastructure. The additional EV charging services are now located across from the original charging location on Level 1A of the Winchester parking garage.
"Since the initial deployment of the EV charging services at Santana Row, we have continuously, monitored the usage of the station, as we do all of our properties," said Brian Golomb, Vice President of Sales, CarCharging. "In doing so, we were able to determine that the services were consistently being utilized and that the property could support additional EV charging stations."
"Given the electric car sales in Northern California and the property's prime location in the heart of Silicon Valley, we aren't surprised by the usage of the charging services," said Michael Kelleher, Vice President of Asset Management for Federal Realty. "Electric cars are becoming increasingly more mainstream and we are delighted that CarCharging deployed additional charging services. The stations provide an amenity and service to our guests."
The EV charging services for Santana Row are provided by Level II EV charging stations, which provide 240 volts with 32 amps of power to quickly recharge an electric vehicle's battery. To initiate use and payment at this location, EV drivers can easily request CarCharging's evCharge card online, and attach the small card to their keychain. CarCharging's evCharge card also allows drivers to use charging locations on the ChargePoint® Network. CarCharging's EV charging stations also accept direct payment via credit card.
About Car Charging Group, Inc.
Car Charging Group, Inc. (OTCQB: CCGI) is a pioneer in nationwide public electric vehicle (EV) charging services, enabling EV drivers to easily recharge at locations throughout the United States. Headquartered in Miami Beach, FL with offices in San Francisco, CA; New York, NY; and Phoenix, AZ; CarCharging's business model is designed to accelerate the adoption of public EV charging.
CarCharging provides a comprehensive turnkey program to commercial and residential property owners for EV charging services. CarCharging owns and operates the EV charging equipment; manages the installation, maintenance, and related services; and shares some of the EV charging revenue with the property owner. Thereby, eliminating most capital costs for the property owners, and providing a potential additional revenue stream.
CarCharging has strategic partnerships across multiple business sectors including multifamily residential and commercial properties, parking garages, shopping malls, retail parking, and municipalities. CarCharging's partners include, but are not limited to Walgreens, IKEA, Wal-Mart, Simon Property Group, Equity One, Equity Residential, Forest City, Cinemark USA, Fox Studios, Facebook, PayPal, Kimpton Hotels and Restaurants, Mayo Clinic, San Diego Padres, University of Pennsylvania, Ace Parking, Central/USA Parking, Icon Parking, Rapid Parking, Parking Concepts, CVS, Related Management, Pennsylvania Turnpike Commission, Pennsylvania Department of Environmental Protection, City of Phoenix (AZ), City of Philadelphia (PA), and City of Miami Beach (FL).
CarCharging is committed to creating a robust, feature-rich network for EV charging and is hardware agnostic. CarCharging's owns the Blink network, and owns and operates EV charging equipment manufactured by Blink, Aerovironment, ChargePoint, Efacec, General Electric, Nissan, and SemaConnect. CarCharging's Level II charging stations are compatible with EVs sold in the United States including the Tesla Model S, Nissan LEAF, Chevy Volt, Mitsubishi i-Miev, Toyota Prius Plug-In, Honda Fit EV, and Toyota Rav4 EV, as well as many others scheduled for release over the next few years.
Through its subsidiary, Blink Network, CarCharging also provides residential EV charging solutions for single-family homes. For more information, please visit www.BlinkHQ.com.
About Federal Realty
Federal Realty Investment Trust is an equity real estate investment trust specializing in the ownership, management, development, and redevelopment of high quality retail assets. Federal Realty's portfolio (excluding joint venture properties) contains approximately 20 million square feet located primarily in strategically selected metropolitan markets in the Northeast, Mid-Atlantic, and California. In addition, the Trust has an ownership interest in approximately 1.0 million square feet of retail space through a joint venture in which the Trust has a 30% interest. Our operating portfolio (excluding joint venture properties) was 95.3% leased to national, regional, and local retailers as of September 30, 2013, with no single tenant accounting for more than approximately 3.4% of annualized base rent. Federal Realty has paid quarterly dividends to its shareholders continuously since its founding in 1962, and has increased its dividend rate for 46 consecutive years, the longest record in the REIT industry. Federal Realty is an S&P MidCap 400 company and its shares are traded on the NYSE under the symbol FRT.
Forward-Looking Safe Harbor Statement
This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future. Those statements include statements regarding the intent, belief or current expectations of Car Charging Group, Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed conditions.
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