The CD PE Builder cannot be used in a path that contains spaces with the way that variables are currently set and called. Having a space within your directory will make cmd error out with "directoryname is not expected at this time"
If I knew more about how it was calling things, I might be able to rewrite it to be inclusive of all directories. The other option, would be to rewrite it within a powershell script and execute that script from batch using powershell.exe -nologo -executionpolicy bypass -command "& 'path\to\script\script.ps1'"
The other other option, which is what I did, would be to just move it to a directory with no spaces.