ChargePoint Fuels North San Jose Expansion Through Lease Agreement
SAN JOSE – ChargePoint has leased two large buildings in San Jose in what appears to be an expansion for the green energy company.
The electric vehicle charging station and service provider has leased two buildings in North San Jose near the corner of Zanker Road and Charcot, according to documents filed with the Santa Clara County Recorder’s Office. .
ChargePoint has leased buildings at 2191 Zanker Road and 150 Charcot Ave., according to county property records.
The North San Jose buildings that ChargePoint has leased total 88,200 square feet. The office and research buildings that have been leased have one floor and are owned by the real estate company Dollinger Properties.
Building 2191 Zanker totals 46,300 square feet and Building 150 Charcot totals 41,900 square feet, according to information provided by Compstak’s commercial real estate department.
In December 2021, direct observation by this press organ of the buildings showed that interior design work was underway on the building on Avenue Charcot. The ChargePoint logo was visible in front of and at the entrance to the Zanker Road building.
Campbell-based ChargePoint completed an initial public offering in March 2021 that raised $480 million, the company said at the time of the IPO.
“ChargePoint is well positioned for continued growth in North America and Europe as the shift to electrified mobility takes hold globally,” said Pasquale Romano, CEO of the company, in a statement prepared for the press release. ‘era.
The start-up designs and builds charging stations that can be used to power hybrid cars and electric vehicles that can be plugged in.
ChargePoint’s charging stations can be found in a range of locations, including parking lots in apartment complexes, hotels, office centers and shopping malls, as well as along public streets.
Typically, drivers pay to access the ChargePoint system through a cloud-based monthly subscription system.
“With a single ChargePoint account, drivers can access hundreds of thousands of charging points in North America and Europe,” the company says on its website.
In the one-year period ending in October 2021, ChargePoint lost $342.5 million on revenue of $204.1 million, according to the Yahoo Finance site.
An assessment of ChargePoint’s outlook published on January 11 on the investment news and analysis site Seeking Alpha suggests that the company faces challenges, but is also ready to seize opportunities in the months and years ahead. .
“Earnings may prove elusive for some time as the company continues to prioritize acquiring prime land in what has been a fairly competitive market for electric vehicle charging companies,” said declared the evaluation of Seeking Alpha.
Still, ChargePoint is able to generate considerable revenue, Seeking Alpha said.
“The more electric vehicles on the road, the greater the demand for charging,” the analysis says. “This positive correlation will drive demand for ChargePoint’s products and services.”