For years, the CRE industry, especially retail and multifamily, has invested in electric vehicle chargers. Many in CRE have tried to anticipate increased use of the vehicles and understand how much charging they had to make necessary.
For a long time, this wasn’t an easy or cheap task. There are costs of installation and power supplies. These get multiplied by the number of parking spaces to be converted. EV charger installation and use bring increased insurance risks.
Trying to pay for the conversions has brought up different approaches so retail and multifamily owners and operators can afford to add charging, whether public-private partnerships or sale-leaseback financing. Still, it’s been money in and a question of whether there would be enough cash back to pay for everything.
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