California has experienced Stage 3 alerts and the threat of rolling blackouts every day this past week. With utilities like Southern California Edison facing financial debacle, the need for alternate sources of power has intensified. Firms like Power Plus, which provide alternate power solutions on a temporary or permanent backup basis, are stepping up to take a share of the market.

"There's been a paradigm shift from a single source of government regulated sources of power, the public utilities, going into a more responsive and reactive ability for people to use power," says Bray, the company's 44-year-old president/CEO. "This transition and change has created a multitude of problems that the private sector will respond to and fix, but that will take three to five years," he adds.

In the meantime Power Plus, with 300 employees and eight offices throughout California and Nevada, is growing at a rapid clip, so much so that Bray is moving his corporate headquarters to a larger facility this June. The new 61,143-sf facility, located in the Bedrosian Freeway Business Center at 1005 N. Edward Ct., will allow the company to service its fleet of trucks on site and warehouse its generators and other equipment. The company signed a seven-year lease with the building owner, the Bedrosian Trust, valued at $3.3 million. Jeff Chiate and Rick Ellison, directors of Cushman & Wakefield's Irvine office represented the owner, and Forrest Wylder of CB Richard Ellis represented Power Plus in the transaction.

Once the company moves into the new building, Bray plans to generate power for his own facility. The company currently is talking with Arden Realty about supplying power to buildings in its portfolio. Colleges and other institutions, concerned about power issues, also are beginning to contact Bray. Bray believes that the commercial and residential real estate community needs to focus on conservation. "Arden Realty is on the absolute cutting edge of doing proactive things about power management. A lot of other real estate companies need to get off the dime and start looking at the management of their facilities," he contends. The way the general public and the business sector obtain power in the future will continue to change, Bray says, but it will take time.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.