VERNON, CA, March 13, 2024 (GLOBE NEWSWIRE) -- AXIS IOS, a real estate investment platform dynamically positioned to acquire, develop, and manage Industrial Outdoor Storage (“IOS”) throughout the United States, has opened its first electric vehicle (“EV”) charging facility in Vernon, California, located just a half mile from 4 Interstate freeways (5, 10, 110 and the 710), a major freight corridor coming out of the Ports of Los Angeles and Long Beach, and home to numerous distribution centers performing last-mile delivery. The site is designed for local fleet clients that are operating medium-duty and light-duty vehicles in the Los Angeles area and features enough space for 42 vehicles, which will include 34 Level 2 chargers and 8 Level 3 DC fast chargers. Fleet customers will benefit from the area’s low and competitive utility rates, which on average are approximately 8-10% lower than neighboring utility rates. Recent market analyses show a surge in demand for medium-duty electric vehicles from fleets, with a 640% jump in orders in 2022 and several major regulations coming down the way including the Advanced Clean Fleets Rule in California and the Advanced Clean Trucks Rule in 14 states and the District and Columbia. AXIS IOS is actively looking to address the lack of adequate charging infrastructure for fleets facing these regulations and opening the Vernon location is the latest example of how the EV transition begins with real estate.
This site is part of the trend towards private, “behind-the-fence” EV charging depots designed with fleets in mind – including those local businesses doing last-mile delivery. AXIS IOS worked closely during the development of the site with Vernon Public Utilities, the city’s locally owned utility from design drawing submittals to power delivery to the site. AXIS IOS's EV charging facility was operational within several months.
“Vernon is excited to support local businesses as they transition towards the electrification of their fleets,” said Margie Otto, Assistant General Manager of Vernon Public Utilities. “Partners like AXIS IOS are helping show that our city is prepared for the electric future and ready to support the transition to electrification." The Vernon site is available to lease for businesses looking to serve the Los Angeles area immediately and fleets are encouraged to reach out if they’re interested.
“Many fleets in California have ambitious ESG goals and ZEV compliance requirements. However, they grapple with the cost, delays, siting, and power procurement challenges associated with charging infrastructure. Our Vernon site provides a solution, enabling swift deployment of electric vehicles (EVs),” says Joe Killefer, Partner, AXIS IOS. “Through a typical triple-net real estate lease, we simplify and expedite the process, allowing fleets to treat charging as an operating cost rather than a complex capital investment.”
AXIS IOS is planning to leverage its expertise to build further EV charging sites, including one in early 2025 in Newark, New Jersey, with charging and storage for 62 commercial EVs.
About AXIS IOS:
AXIS IOS is a fully capitalized real estate investment platform dynamically positioned to acquire, develop, and manage Industrial Outdoor Storage (“IOS”) throughout the United States. With the surge in e-commerce, AXIS meets the growing demand for well-located Industrial Outdoor Storage facilities. As urban properties become increasingly scarce, AXIS IOS is targeting these mission critical properties to help clients maintain robust supply chain logistics.
Attachment
