Main Street Power expanding, plans move
Last Updated: 16:02 September 27, 2013
The power purchase-agreement provider has leased 8,671 square feet at 4875 Pearl East Circle, No. 200. The space is more than double what the company has at 1245 Pearl St. now.
Wade Wimmer of CBRE and Brady Alshouse of Jones Lang LaSalle represented the tenant in the new lease, while Chad Henry and Nate Litsey represented landlord W.W. Reynolds Cos.
"We're very excited about it," said Debi Richards, Main Street Power's office manager "We are busting at the seams here."
Main Street Power has hired three new employees in the past two months to bring its total count to 26, and Richards said the company is "cautiously optimistic" about adding more.
Main Street Power will close a Series B round of equity fundraising next week. The company opened the round in April with aims of raising $3 million to $5 million. Founded in 2009, Main Street Power raised a Series A round of $3.75 million in 2010.
Eric Hinckley, chief technology officer and senior vice president, said the company has tripled its residential business over the past year and doubled its commercial business.
Main Street Power owns, operates and maintains solar assets on thousands of homes and hundreds of commercial sites in North America, leasing solar panels to residential customers and selling power to commercial customers.
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