The Changing Face/Space of Parking: Impact on Commercial Real Estate

Last year, we sent an article to a select few Landlord clients that we work with who own buildings. That email was one of the most opened narratives we have ever sent. The topic?—Parking lot security. I didn’t see that coming. 
 
Inspired by that email, below are two cool articles about what is going on in the modern world with parking and parking lots.
 
Did you know:

–People can spend up to 85 hours a year looking for a parking spot.
–Technology, now in use, can show you where there are open spots in downtown SF from a cell phone app.
–Parking lots are beginning to vary parking rates at any time depending on the demand for those spots. Rates change from $.25 to $6 
an hour.

–You can pay for parking by credit card and by a phone app now. Pocket change is so last year.
 
For more cool information on parking lots and what is coming see below. You can always just scan my highlights.

If you want to know my thoughts on parking and how it is affecting both tenants and landlords, give me a call.

Craig
602.954.3762
ccoppola@leearizona.com


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