Portfolio

ParkingExpert works with a variety of organizations

Client Types

Individual Owners

Parking Operators

REITs

Private Real Estate Investors/Building Owners

Projects

Increased commercial building value by $1MM+ for commercial building in Miami

  • Client Type: Private Real Estate Investor/Building Owner
  • Building Type: Commercial, Retail
  • City: Miami, Florida
  • Client Challenge: Facility not performing to its optimum level
  • Project Outcome: Value of building increased by $1MM+; gross revenues increased by 15%

Problem/Opportunity Identified ParkingExpert Solution Implemented Outcome
Entry and exit points. Very difficult to enter the facility. Redesigned the entry Much easier to enter the facility. Increased customer satisfaction.
Antiquated Parking Accounting Revenue Control system (PARCS) Recommended new equipment and location Client empowered to modernize their PARCS infrastructure
Parking rate evaluation Changed rates to increase bottom line. Eliminated complex rate structure to simplify pricing for customers. Increased revenue. Increased customer satisfaction.
Security procedures and cost evaluation Delivered a set of recommendations regarding security procedures and cost Decreased security cost
Ownership repositioning asset for sale Reviewed new parking facility lease agreement and economics of the deal Increased value of building to increase sale price
Parking operator assessment Interviewed a new potential parking operator to vet his concerns ParkingExpert issued an opinion of capabilities

 

Increased gross revenues by 10% for commercial building in D.C.

  • Client Type: Private Real Estate Investor/Building Owner
  • Building Type: Commercial, Retail
  • City: Washington, D.C.
  • Client challenge: Facility not performing to its optimum level
  • Project outcome: EBITA improvement of $100,000 annually; Gross revenues increased by 10%
Problem/Opportunity Identified ParkingExpert Solution Implemented Outcome
Entry and exit points. Very difficult to enter the facility. Redesigned the entry Easier access to enter/exit the facility
Antiquated Parking Accounting Revenue Control system (PARCS) Recommended new equipment and location Client empowered to modernize their PARCS infrastructure
Parking rate evaluation Changed rates to increase bottom line. Eliminated complex rate structure to simplify pricing for customers. Increased revenue
Ownership repositioning asset for sale Reviewed new parking facility lease agreement and economics of the deal Increased value of building to increase sale price
Lease vs. management Contract Review Worked with ownership to determine the best course of action for lease renewal ParkingExpert issued an opinion of capabilities

Increased gross revenues by 20% for a commercial building in San Francisco

  • Client Type: Private Real Estate Investor/Building Owner
  • Building Type: Commercial, Retail
  • City: San Francisco, California
  • Client challenge: Facility not performing to its optimum level
  • Project outcome: EBITA improvement of $75,000 annually; gross revenues increased by 20%
Problem/Opportunity Identified ParkingExpert Solution Implemented Outcome
Antiquated Parking Accounting Revenue Control system (PARCS) Recommended upgrade and type of PARCS to be purchased and installed 1. Reduced labor cost by 50% with new equipment installation.

2. Significant increase in customer satisfaction through use of new PARCS—speed, convenience, ease of use and easy to understand.

3. Improved revenue integrity.

Reconciling financial and operational data Financial and operational audit Better reporting and accountability of revenues and cost of operation
Reconciling payroll data Payroll audit Precise payroll reporting—accountability of who and hours personnel are working on site

Increased building value by $1MM+ for commercial building in Charlotte, NC

  • Client Type: Private Real Estate Investor/Building Owner
  • Building Type: Commercial, Retail
  • City: Charlotte, North Carolina
  • Client challenge: Facility not performing to its optimum level
  • Project outcome: Value of building increased by $1MM+; gross revenues increased by 7%
Problem/Opportunity Identified ParkingExpert Solution Implemented Outcome
Difficult to enter parking facility Redesigned parking entry Easier access to enter/exit the facility
Antiquated Parking Accounting Revenue Control system (PARCS) Recommended new equipment and a location Client empowered to modernize their PARCS infrastructure
Parking rate evaluation Change parking rates to increase the bottom line. Eliminate complex rate structure and simplify rates for the customer. Increased revenue
Security procedures and evaluation Delivered a set of recommendations regarding security procedures and cost Security cost savings
Ownership determining real value of parking facility Reviewed new parking facility lease agreement and economics of the deal Increased value of building
Interviewed a new potential parking operator to vet his concerns Issued an opinion of capabilities Client empowered to make a decision on the parking operator

Increased gross revenues by 10% for a commercial building in Austin, TX

  • Client Type: Private Real Estate Investor/Building Owner
  • Building Type: Commercial, Retail
  • City: Austin, Texas
  • Client challenge: Due diligence analysis for an asset purchase. Owner wanted to verify parking revenues presented by the seller as true and accurate.
  • Project outcome: Asset was purchased and is performing above expectations; gross revenues increased by 10%
Problem/Opportunity Identified ParkingExpert Solution Implemented Outcome
Ownership wanted to verify parking revenues presented by the seller as true and accurate Due diligence analysis The asset was purchased and is performing above expectations
Understand the parking site and verify its income Deployed to site to study the operation to verify the income Verified the site’s income
Understand the local market Spent 3 days on site studying reports, walking the garage, studying the regional market and meeting with competitors Client up-to-speed on the local market
Analyze where the local market is heading Rate surveys to determine the future of the market Client up-to-speed on where the local market is heading
Analyze potential future businesses Researched potential future businesses, i.e. hotels, new commercial developments, retail and restaurants Client up-to-speed on potential future businesses near the parking operation
Analyze leases and tenant contracts Reviewed all leases and contracts of tenants and leases Client briefed on leases and tenant contracts
Analyze Parking Management contract Review of Parking Management contract Client briefed on opportunities and risks of the Parking Management contract
Determine longevity of the equipment PARCS vendor interview to determine longevity of the equipment Client briefed on longevity of the equipment
Get to know parking management personnel and hear their feedback Interviewed parking management personnel Client briefed on parking management personnel and their feedback
Determine if graphics and way-finding setup needs to be modified Graphics and way-finding recommendations Client briefed on graphics and way-finding recommendations

Changed building entrance and exponentially increased customer satisfaction in Washington, D.C.

  • Client Type: Private Equity
  • Building Type: Mixed-use high-end residential
  • City: Washington, D.C.
  • Client challenge: Facility entrance was challenging for parking patrons
  • Project outcome: Physically and technically changed the entrance and achieved 100% customer satisfaction
Problem/Opportunity Identified ParkingExpert Solution Implemented Outcome
Difficult to enter parking facility 1. Redesigned and installed a new RFID system for patrons.

2. Removed and replaced the old concrete island to enable vehicles to effortlessly enter the facility.

3. Deployed state-of-the-art radio frequency ID system (RFID) that is more convenient for patrons. The parking patron pulls up to the entry gate and the RFID sends a signal to open the door.

1. 100% customer satisfaction with entering the facility

2. Customer no longer needs to roll down a window to use the old-style card reader. Now the RFID sends a signal to open the door.

Increased gross revenues by 10% for a D.C. surface parking lot

  • Client Type: Parking Operator
  • Building Type: Surface Parking Lot
  • City: Washington, D.C.
  • Client challenge: Facility not performing to its optimum level
  • Project outcome: Increased EBITA to ownership by $30,000 annually; gross revenues increased 10%
Problem/Opportunity Identified ParkingExpert Solution Implemented Outcome
Desire for new revenue streams Analyzed potential revenue stream by leasing lot to a nearby hotel Client briefed on potential revenue stream by leasing lot to a nearby hotel
Optimize number of patrons parking Studied neighborhood and demands of hotel Determined how to optimize the number of parking spaces
Optimize revenue Reviewed rate structure the hotel was charging patrons Determined the hotel was making a significant profit from overnight guests and they could pay additional rent to the property owner
Identify signage issues Designed new information signage package Customer-friendly and convenient parking for patrons to park in the proper area and understand parking fees

Designed and deployed a new PARCS system in Tysons, Corner VA for extensive retail and commercial office space

  • Client Type: Private Real Estate Investor/Building Owner
  • Building Type: Extensive retail and commercial office space. Complex multi-building structures with multiple entrances and exits.
  • City: Tysons Corner, Virginia
  • Client challenge: Design and deploy new PARCS system and manage the bidding process to do implement these changes
  • Project outcome: Designed and deployed a new PARCS system; gross revenues increased 100%
Problem/Opportunity Identified ParkingExpert Solution Implemented Outcome
Design and install new PARCS for a large 3-building complex Worked with property management and ownership closely to ensure success of installation and acceptance by building tenants Successful PARCS installation and acceptance by building tenants
Parking equipment bidding process Reviewed bids and made recommendations Selected a vendor that implemented successfully
Very large facility with 2,000 parking spaces and multiple entry and exit points Designed way-finding system Way-finding system implemented
Complex design due to traffic issues with queuing to enter and exit during peak hours New parking gates and ticket dispensers designed and installed to meet high demand without creating queuing back-ups on entry and exit New parking gates and ticket dispensers installed, which met high demand without creating queuing backups on entry and exit
Request for parking validation for retail and tenants Designed validation program for retail and tenants wishing to pay for customer parking Implemented validation program for retail and tenants wishing to pay for customer parking
Optimize revenue Designed competitive rate structure to meet demands and revenue goals Implemented competitive rate structure to meet demands and revenue goals