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6/24/20
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Overton Moore Properties (OMP) has commenced work on Phase II at Pacific Commons South (PCS) has commenced Phase II in Fremont. As part of the development, Overton Moore 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 msf of advanced manufacturing and warehouse space. EV charging will be available at more than 5% of the total parking stalls within PCS. The project is located at the intersection of Cushing Pkwy, Christy St and Bunche Dr.
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. CBRE is marketing the project for lease.
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 678k sf remaining available across six buildings. The master-planned business park includes 10 freestanding 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.
CBRE’s Rob Shannon, Chip Sutherland and Robert Ferraro are marketing PCS for lease. With Phase I of construction complete, the first buildings at PCS are slated to open fall 2020.
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