SAN FRANCISCO, Calif. — EV Realty is announcing that Outpost, a GreenPoint portfolio company, has contributed assets for a direct minority investment in the company.
This additional investment positions EV Realty to continue scaling its Powered Properties portfolio to enable trucking fleet electrification along key freight corridors. As part of this effort, EV Realty also announced it has acquired an industrial property in Stockton, Calif. that is ideally located for freight and logistics operations in a rapidly growing, power constrained region central to trucking operations in Northern California, according to a company press release.
“EV Realty, our investors, and our project partners continue to see compelling opportunities to create value by serving the charging and logistics needs of fleet operators,” said Patrick Sullivan, EV Realty CEO. “Today’s announcements are important milestones in our shared mission to electrify trucking and help forward-looking fleets successfully compete in a rapidly evolving market.”
EV Realty and GreenPoint have operated a programmatic real estate joint-venture since Q1 2024. The investment deepens GreenPoint’s focus on transport infrastructure and electrification, building on investments in Outpost (US) and Lysara (Europe).
Stockton Property
The latest addition to EV Realty’s logistics hub portfolio is a 4-acre truck parking and trailer storage yard located at 1549 Industrial Drive in Stockton, Calif. The property is well located to suit a broad variety of logistics users, situated immediately north of the Stockton Airport, within two miles of both I-5 and SR-99, and just five miles from the Port of Stockton and the San Joaquin Valley’s intermodal facilities.
EV Realty expects to continue operating the site for truck and trailer parking while finalizing plans to develop a large-scale, high-power, grid-connected charging hub for medium- and heavy-duty commercial trucks. The site was purchased from an affiliate of Dayton Street Partners.
“A thoughtful approach to real estate acquisition and development is an important part of EV Realty’s Powered Properties strategy for meeting fleet charging needs,” said Jenna Halperin, senior manager, real estate for EV Realty. “This acquisition is a textbook demonstration of EV Realty’s ability to find land and power in one of California’s most constrained grid markets, enabling us to advance fleet electrification quickly, efficiently, and at lower cost.”
These developments show continued momentum for EV Realty and its investors as the company scales up to meet charging and logistics needs for fleet customers, according to the release.
“The GreenPoint investment builds on lead investor NGP’s recent $75 million commitment, and the newly announced Stockton site joins EV Realty’s San Bernardino charging hub as another node in EV Realty and Prologis’ shared network of fleet charging hubs throughout California,” the release said. “EV Realty’s strong investor support, strategic real estate portfolio, and growing network of private and public project partners will enable the company to serve additional fleets and geographies as the market matures.”
Dana Guthrie is an award-winning journalist who has been featured in multiple newspapers, books and magazines across the globe. She is currently based in the Atlanta, Georgia, area.
