To read this full article you need to be subscribed to Parking Assets — the Forgotten Opportunity: New technologies and financially strapped municipalities mean parking facilities and management contracts could become cash cows for savvy investors
Parking Assets — the Forgotten Opportunity: New technologies and financially strapped municipalities mean parking facilities and management contracts could become cash cows for savvy investors
When you think of parking, opportunity probably is not the first word that pops into your head. If you are like most people, words such as aggravation and expensive are more likely. But, in fact, parking can present many investment opportunities. The industry generates $100 billion each year, but it often flies under the radar for investors.
There are a number of potential avenues for investment. The sexiest — and most obvious — is probably technology. The industry is in the midst of a technology revolution, with new tools being introduced seemingly weekly. It is not surprising, then, that the technology segment of the industry has attracted, and continues to attract, investors.
Another promising avenue for investment is less well known: monetization. Many cities across the United States find themselves short of capital, and one strategy for generating that capital is to sell or lease their parking assets. These deals can br