Dive Brief:
- CBRE has formed a preferred partner agreement with EV+ to deploy electric vehicle charging systems at 10,000 U.S. commercial properties over the next five years.
- The partnership will focus on implementing EV infrastructure “where drivers most need charging stations,” including hotels, healthcare-related facilities and multifamily complexes, “all of which have been critically underserved to date,” EV+ said in a May 16 news release. Each property will host approximately 10 charging stations, with the rollout also covering offices, according to Jim Hurless, global head of real estate for CBRE EV Solutions.
- The agreement adds to CBRE’s growing list of EV infrastructure partners as it works to satisfy the large amount of demand expected in the coming years, Hurless told Facilities Dive. As the world’s largest real estate firm, “we really plan to continue to support other [organizations] as well in facilitating deployment of their networks across the country,” he said.
Dive Insight:
New workplace EV charging installations present a major opportunity for U.S. office property owners and large occupiers, CBRE says in a May 3 report, citing government purchase incentives, environmental consciousness and expanding infrastructure as drivers for increasing EV adoption.
As a result, commercial property owners and large occupiers are installing EV charging stations as a “crucial amenity,” with workplace charging sessions growing twice as fast as new installations, per the report from CBRE and ChargePoint, which cites predictions from Bloomberg New Energy Finance that EV registrations will grow at an annual average rate of 40% over the next five years. Active workplace charging ports from ChargePoint increased by 22% year over year in 2023, leading to a 64% increase in charging sessions and higher utilization of existing ports, the report says, noting that EV infrastructure could also play a part in greater return-to-office trends, CBRE says.
While charging alone may not be enough to bring workers back to the office, “it could incentivize them to visit more and stay longer to charge their vehicles,” the report says, noting that CBRE’s Spring 2023 U.S. Occupier Survey found that 30% of 207 corporate real estate executives with U.S. office portfolios favor offices with EV chargers.
“Building owners and occupiers alike are adding amenities that encourage greater office attendance, and EV charging fits that need well,” Scott Howard, CBRE Global Head of EV Charging, said in a May 7 note. “EV drivers need to recharge – or top off – their vehicles far more frequently than do drivers of conventional vehicles. Thus, allowing employees and tenants to charge while they’re at work is a huge advantage, especially for drivers with longer commutes.”
Additionally, “it’s an amenity for the landlords themselves,” helping to differentiate themselves from other competitive properties, Hurless said. “Number two, it’s an opportunity to monetize those assets through revenue share or partnerships, so that the landlord will be able to receive some financial benefit as well.”
EV+, which aims to simplify the EV charging process for property owners, provides charging infrastructure solutions, featuring an integrated hardware, software and networking system designed to be durable and user-friendly. Its partnership with CBRE will provide real estate owners and operators with “turnkey EV+ charging stations,” which will be installed ready to operate, “with no ongoing responsibilities for property owners,” per the release.
CBRE also recently announced an agreement with charging-as-a-service solution firm Invisible Urban Charging to support a nationwide rollout of one million EV charging stations over the next five years.
“It’s a great opportunity to have EV+ and Invisible Urban Charging as clients of ours and they complement each other well, because we have such a large demand for charging infrastructure that’s required to deploy across the U.S.,” Hurless said. “So we need multiple providers. We need to have many, many other providers, in fact, to meet the demand.”
As part of these partnerships, CBRE said it will provide site acquisition services, grant and incentives work, project management capabilities, installation and support with operating and maintaining the charging stations.
