FREMONT, Calif. – June 22, 2020 – Overton Moore Properties (“OMP”) announced that Pacific Commons South (PCS) has commenced Phase II and is undertaking one of the largest individual installations of electric vehicle (EV) charging stations to ever occur at a speculative project in the Bay Area. More than 275 ChargePoint chargers will be located across the project’s 10 buildings encompassing 1.7 million sq. ft. of advanced manufacturing and warehouse space. CBRE is marketing the project for lease, located at the intersection of Cushing Parkway, Christy Street and Bunche Drive in Fremont, Calif. EV charging will be available at more than 5% of the total parking stalls within PCS.
“Fremont is home to one of the largest concentrations of clean energy technology companies and is committed to accelerating adoption of electric vehicles,” stated Christina Briggs, Deputy City Manager, City of Fremont. “We are extremely proud of Pacific Commons South, which is revolutionizing the face of industrial real estate, including its contribution to our City and regional sustainability goals.”
Sales of electric vehicles in the United States increased by 80% between 2017 and 2018, and are projected to grow at a rate of nearly 25% annually over the next five years, according to EV-Volumes, InsideEVs and Guidehouse Insights. BloombergNEF’s Electric Vehicle Outlook 2020 report forecasts EV sales to represent 28% of global passenger vehicle sales by 2030 and 58% by 2040.
“Installing the EV chargers is meeting the demand from our customers and more importantly our small contribution to create sustainability through development,” noted Timur Tecimer, CEO of OMP.
OMP selected ChargePoint for the large installation based on the company’s product portfolio and solutions, specifications, monitoring, maintenance and flexibility to work with OMP on this project.
“ChargePoint is excited to partner with Overton Moore Properties to accelerate the buildout of vital EV charging infrastructure to enable the movement of more people and goods on electricity,” says Erik Fogelberg, Vice President, Sales at ChargePoint. “The Bay Area is a rapidly growing hub for electrified fleets in the last-mile delivery sector, which makes Pacific Commons South the ideal location for business fleets and other electrified transport. Our partners at Overton Moore are trailblazers in implementing large-scale charging infrastructure for a diverse array of use cases. Not only enabling electric fueling for companies eager to find a home that supports their switch to electric fleets, but employees requiring more charging options where they work.”
Founded in 2007, ChargePoint is the world’s largest electric vehicle charging network and provider of charging solutions. The company’s network includes more than 113,000 places to charge around the world with drivers plugging into the ChargePoint network approximately every two seconds. Sixty percent of Fortune 50 companies are ChargePoint customers.
PCS is currently 60% pre-leased with ±678,017 sq. ft. remaining available across six buildings. The master-planned business park includes 10 free-standing buildings with ESFR sprinklers, 28-36 ft. clear heights, dock-high and grade-level loading, 120-185 ft. truck courts, build-to-suit office space and abundant trailer parking. The project is 100% solar roof capable and includes a 2.5% skylight ratio. PCS also offers numerous outdoor dining and break areas and pedestrian paths around the property. It is located adjacent to Pacific Commons Shopping Center with dozens of restaurants, cafes and retail within walking distance.
“OMP is a forward-thinking developer who is anticipating not just the current needs of industrial users but what will be important to tenants in the years ahead. Pacific Commons South is truly unique in its combination of location, scale and state-of-the-art amenities,” noted Rob Shannon, Executive Vice President in CBRE’s San Jose office. “As an EV car owner, I understand firsthand the value of charging one’s vehicle at your place of employment. This capability provides me great flexibility throughout my day.”
Mr. Shannon is marketing PCS for lease along with CBRE’s Chip Sutherland and Robert Ferraro. With Phase I of construction complete, the first buildings at PCS are slated to open fall 2020.
Overton Moore Properties (OMP) is a privately held company specializing in real estate development, acquisition, master planning, master planning, marketing, asset management, property management, construction management, and financial reporting of industrial, office and mixed-used projects. OMP’s long term franchise value, local market knowledge, deep relationships with tenants and the brokerage community and strong institutional relationships have contributed to its success throughout the past 42 years. OMP has constructed and acquired more than 40 million square feet of office, industrial and mixed-use space, developing more than 1,598 acres of raw land throughout California and Arizona. The firm also owns and manages over 8 million square feet of space in the region.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.