EV Charging Provider Revel Signs 19K SF Lease in Downtown L.A.
It’s the Brooklyn-based company’s first site in L.A. and will feature 42 charging stations.
By Nick Trombola July 26, 2024 2:41 pm
reprints
All new cars sold in California must be zero-emission vehicles by 2035, per government mandate, which means the Golden State desperately needs more charging stations to accommodate the surge. Enter: urban electric vehicle infrastructure provider Revel.
The Brooklyn-based company has signed its first lease in Los Angeles, at 1233 South Grand Avenue, with local developer and investor Leo Pustilnikov for 19,000 square feet, according to property records. Revel plans to construct 42 EV charging stations on the lot near Crypto.com Arena, LA Live and the L.A. Convention Center in Downtown L.A., with completion set for 2026.
Max Rattner of Reliance Real Estate Advisors brokered the deal.
“In the next two years, we’ll have 1,000 fast chargers open across New York City, the Bay Area and Los Angeles,” Frank Reig, Revel co-founder and CEO, said in a statement. “This infrastructure will close the urban charging gap and allow everyone from rideshares and last-mile delivery fleets, to everyday drivers, to electrify.”
Revel currently has its largest footprint in New York City, where it was founded in 2018. The company has 54 public charging stations across three sites in Brooklyn and Queens, with plans to quadruple that network by the middle of next year with new projects in Maspeth, Queens, Lower Manhattan and at LaGuardia Airport. It also has seven sites under development in the San Francisco Bay Area.
A record of nearly 1.2 million electric vehicles were sold in the U.S. last year, the first time sales have surpassed the 1 million mark, according to a report by Kelley Blue Book. The federal government has also recently juiced up incentives for commercial landlords to provide charging stations for tenants in the wake of that surging demand, alongside bullish proptech firms attempting to capitalize on the growing trend.
Nick Trombola can be reached at NTrombola@commercialobserver.com.
