SAN FRANCISCO, Sept. 05, 2024 (GLOBE NEWSWIRE) -- EV Realty, Inc. (“EV Realty”), an EV infrastructure development platform powering commercial fleets, today announced the acquisition of a strategically-located site in Torrance, CA. EV Realty plans to develop this 2.15-acre site into one of its Powered Properties™, a high-speed charging hub with guaranteed charging access and availability for medium-and-heavy duty (MHD) commercial fleet customers.
The site, currently improved as a commercial parking lot, is located at 18715 S. Western Avenue in Torrance, CA. It lies directly adjacent to Interstate 405, with immediate access to on and off-ramps at Western Avenue, just 12 miles north of the Ports of LA and Long Beach and 10 miles southeast of LAX, making its location prudent for meeting a diverse array of MHD fleet charging needs now and in the future.
“Bringing a charging hub to Los Angeles County has been a top priority, and between proximity to existing fleet users, outsized grid connectivity, and access to transportation infrastructure, this site stands to become an absolute showpiece,” said Alec Maghami, EV Realty’s Head of Real Estate. “In siting our first LA charging hub, we needed a property well-situated not only for drayage users, but also last-mile and service-oriented fleets, all while being extremely mindful of our basis. Our new site in Torrance checks all the boxes.”
The site acquisition and continued focus on developing a network of high-powered charging hubs for MHD fleets across California occurs following the March 2024 unveiling of the National Zero-Emission Freight Corridor Strategy. Los Angeles County was identified as a Phase 1 priority location for charging hubs in the plan. EV Realty’s grid-first, power-optimized strategy is uniquely focused on placing steel in the ground within prioritized California locations to meet charging needs.
“Electrifying transportation is urgent work with important local benefits,” said Patrick Sullivan, Co-Founder and CEO of EV Realty. “Making charging available to MHD fleets near these ports and airports will allow fleet operators to send their vehicles where they’re needed without constraint. It will also allow residents of Torrance to breathe easier, knowing that we’re cutting into diesel emissions to improve the cleanliness of our shared air.”
The acquisition was completed as part of EV Realty’s $200 million real estate joint venture with GreenPoint Partners to enable the rapid buildout of Powered Properties™ across California and other strategic US markets. It joins EV Realty’s portfolio of charging hubs currently under development, including hubs in Livermore, Oakland and San Bernardino.
About EV Realty
EV Realty develops, deploys, and owns charging infrastructure critical to electrifying commercial fleets in the U.S. at scale. The company accelerates the adoption of large EV fleets by focusing on the fundamental constraint all electric fleets face: low-cost, reliable, and expandable access to grid-scale power. EV Realty is developing a network of grid-optimized, large-scale EV charging hubs for delivery, logistics, and services fleet customers. Our Powered Properties™ serve multiple commercial fleets in secure, high-power locations with guaranteed charging access and availability, and are located proximate to major logistics corridors within last-mile deliver/duty range of urban population centers. By aggregating multiple fleets with shared private infrastructure in grid-ready locations, EV Realty charging hubs reduce upfront and recurring costs for fleets, optimize charging times and provide high utilization rates. Learn more about EV Realty and how it is transforming fleet charging at www.evrealtyus.com.
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