By Hank Russell
PSEG Long Island, working collaboratively with the Long Island Power Authority (LIPA), recently closed on the purchase of 1307 Walt Whitman Road in Melville. The $32.5 million purchase consolidates several leased spaces that PSEG Long Island occupies, reducing operational costs and providing cost savings to customers.
This purchase of the 195,000-square-foot property — which sits on 19.4 acres — is part of the ongoing effort to evaluate long-term needs and operate more efficiently while making responsible investments that support affordability for customers, according to PSEG Long Island. Consolidating multiple leased office locations into LIPA-owned facilities is expected to reduce duplicative real estate expenses and maintenance costs, improve space utilization and provide greater long-term certainty regarding occupancy costs.
“Bringing employees together in a shared facility will help us reduce long-term costs, strengthen collaboration and continue delivering the responsive, efficient service our customers expect,” said Scott Jennings, PSEG Long Island’s president and COO.
“This building purchase reinforces LIPA’s commitment to managing costs responsibly and delivering affordability for our customers,” said Carrie Meek Gallagher, LIPA’s CEO. “Real estate ownership provides greater long-term cost certainty, gives us greater operational control and represents a prudent investment that supports our long-term fiscal sustainability strategy.”