CushWake Tapped to Lease NJ’s First ‘High-End’ EV Charging Lot
Cushman & Wakefield is amped about a recent leasing assignment for a 1.42-acre electric vehicle charging lot coming to Newark.
After getting to work building its first site in California, Axis Electrified tapped Cushman & Wakefield for its developing project on the East Coast, located at 1-23 Tompkins Port Road.
According to the global real estate services firm, the property is scheduled for delivery in the fourth quarter of 2024.
When complete, the lot will include both Level 2 and Level 3 chargers. The former, offering a range of 15-50 miles per hour of charging with the latter “super” or “fast chargers” serving up a nearly a full charge in 20-60 minutes.
The site will include 68 chargers:
- Eight ABB Terra 124 L3 chargers, each offering power of up to 120 kilowatts and compatible with all EVs, including those with high voltage, or HV, batteries, like in a Tesla.
- 60 Terra AC Wallbox UL L2 chargers, designed to deliver optimized charging for fleets, public operators, commercial facilities, workplaces and multifamily residences.
Cushman & Wakefield Vice Chairs Bill Waxman and Mindy Lissner, Director Jeff Volpi and Senior Associate Chris Griffith will serve as exclusive leasing agents for the strategically located site.
“We are thrilled to be working with Axis Electrified to lease New Jersey’s first high-end electric truck charging lot, a … property with direct access to Route 21, Route 9 and the New Jersey Turnpike,” Volpi said in a statement. “This unique location offers a versatile supply chain solution for both Northern New Jersey and New York City, making it an ideal choice for last-mile ecommerce operations.”
New Jersey is within a day’s drive of 40% of the U.S. population while a 500-mile radius of the waterfronts in Newark and Elizabeth includes most of the Northeast, in addition to major Canadian metropolitan areas like Montreal, Ottawa and Toronto, according to the state.
The future charging lot is also just a five-minute drive to Newark Liberty International Airport, under a 10-minute drive to Port of Newark and less than 30 minutes to New York City.
Based in Georgia, Axis Electrified is a real estate investment and development company that is creating turnkey charging and storage depots for EVs. Its California project is expected to launch in the early part of 2024, according to the company’s website.
As part of the state’s energy goals, a rule adopted by the New Jersey Department of Environmental Protection would require an increase in the sale of electric trucks between now and 2035, with all EV sales by 2050. In New Jersey, the state is seeking to accelerate the electrification of medium- and heavy-duty trucks with a proposal that would have the private sector build out charging infrastructure for the vehicles. The move garnered support early in 2023, as reported by NJ Spotlight News.
Nationally, as EVs become established in the commercial sector limitations remain on what they can achieve while charging infrastructure develops. According to CNBC, operators are expanding around ports with short-haul vehicles to combat range anxiety.
Axis Electrified’s Newark site also taps into another space where CNBC said operators are making headway, by transitioning last-mile delivery trucks to EVs. Delivery giant Amazon, for example, which has a presence in the Garden State that includes 22 fulfillment and sorting centers as well as 25 delivery stations, plans to introduce 100,000 EVs by 2030 for deliveries.
Jessica Perry//njbiz.com
