2011 | North America Parking | Market Survey

2011 | CBD PARKING RATES

NORTH AMERICA | CENTRAL BUSINESS DISTRICT

PARKING RATE SURVEY

Parking Rates Little Changed from 2010 ROSS J. MOORE Chief Economist | USA Despite a general improvement in economic conditions, most parking garage owners and operators did not increase parking rates during the last 12 months. which came as a relief to businesses and consumers confronting significantly higher gas prices.

*Monthly unreserved median rates

www.colliers.com

24.00

26.00

26.00

26.00

WA

A

le, att

Colliers parking rate survey includes 61 central business districts across North America.

(U.S.: 49, Canada: 12)

Se

Fr an c

isc o, C

PA

o, CA

eg

388.21

Di

Athens

n

420.58

Sa

Moscow

0

recovery anticipated to stay on track and a modest improvement in the labor market, parking rates are expected to rise by a modest amount in the coming year.

Beyond the next 12 months, however, parking rates are expected to increase by at least high single digits.

Sa n

428.82

30.00

Manchester

n

438.00

ia,

Boston, MA

10

tow

486.34

lph

Calgary, AB

20

de

496.44

ila

Birmingham

Ph

517.61

30.00

Milan

30

CA

533.00

Do wn

New York – Downtown

40

–

541.00

32.00

New York – Midtown

s,

546.41

NY

Stockholm

50

, IL

567.13

ele

Copenhagen

sA ng

568.89

k,

Brisbane

NORTH AMERICA – TOP 10 DAILY PARKING RATES

Yo r

575.12

w

586.62

Vienna

Ne

Amsterdam

While many businesses and consumers are still acting cautiously, demand for parking looks to be slowly returning to pre-recession levels. Parking garage owners and operators have largely held rates steady for the past several years, but it is unlikely this will be the case for a third consecutive year. With the economic

34.00

598.39

A

Melbourne

Lo

612.15

n, M

Oslo

ica go

695.31

Ch

704.70

Sydney

38.00

Geneva

HI

717.43

to

Perth

Bo s

718.90

2011 41.00 2010

Rome

Daily and monthly parking rates mostly held steady over the past 12 months, with daily parking up 0.8 percent (reversing a 1.4 percent decrease last year) while monthly rates decreased 0.2 percent (reversing a 1.1 percent increase in 2009-2010). Largely supporting parking rates is the continued tight balance between supply and demand—even with the economy still far from operating at full capacity. Despite a modest uptick in office leasing activity and a general improvement in the business landscape, monthly parking rates didn’t increase, as is usually the case. Daily rates, which tend to track the general economy and consumer spending, show marginally improved demand for infrequent parking, and most likely reflect a return to more normal driving patterns and the need (and desire) to be downtown.

ow n

744.00

lul u,

744.72

Tokyo

Mi dt

Hong Kong

Ho no

822.15

–

Zurich

Y

1,014.32

Parking Rates – Median (US$)

London – West End

In both Canada and the U.S, parking rates registered little change over the past twelve months with exception of a few secondary markets. A handful of cities saw double-digit increases, but in most markets parking rates held steady, rose marginally, or dropped by just a few percent. This somewhat directionless pattern largely reflects the uneven nature of the current economic recovery.

k, N

1,083.59

Yo r

London – City

w

TOP 25 MONTHLY PARKING RATES* (USD)

Ne

GLOBAL COMPARISON

continued on page 5

CBD PARKING RATE SURVEY | 2011 | NORTH AMERICA

UNITED STATES DAILY PARKING RATE (USD) MARKET

Atlanta, GA Bakersfield, CA Bellevue, WA Boise, ID Boston, MA Charleston, SC Chicago, IL Cincinnati, OH Cleveland, OH Columbia, SC Columbus, OH Dallas, TX Denver, CO Fresno, CA Ft. Lauderdale, FL Greenville, SC Hartford, CT Honolulu, HI Houston, TX Indianapolis, IN Jacksonville, FL Kansas City, KS Little Rock, AR Los Angeles, CA Memphis, TN Miami, FL New Haven, CT New York – Downtown New York – Midtown Oakland, CA Omaha, NE Orlando, FL Philadelphia, PA Phoenix, AZ Portland, OR Raleigh, NC Sacramento, CA San Diego, CA San Francisco, CA San Jose/Silicon Valley, CA Savannah, GA Seattle, WA St. Louis, MS Tampa, FL Walnut Creek, CA Washington, DC West Palm Beach, FL U.S. NATIONAL AVERAGE

HIGH

22.00 10.00 20.00 12.00 40.00 16.00 52.00 15.00 16.00 12.00 15.00 21.00 26.00 10.00 25.00 6.00 30.00 75.00 30.00 24.00 12.84 16.00 10.00 47.00 6.00 19.00 18.00 40.00 72.00 30.00 25.00 30.00 34.00 12.00 25.00 12.00 20.00 30.00 39.00 20.00 16.00 35.00 24.00 20.00 10.00 20.00 20.00 24.25

LOW

5.00 6.00 12.00 12.00 20.00 10.00 17.00 6.00 3.00 7.00 4.00 3.00 12.00 8.00 10.00 6.00 14.00 21.00 5.00 3.00 6.42 5.00 3.00 5.00 1.00 5.00 14.00 20.00 12.00 9.00 7.50 10.00 18.00 7.00 7.00 6.00 6.00 18.00 7.50 5.00 10.00 14.00 4.00 7.00 6.00 16.00 15.00 9.12

MEDIAN

12.00 8.00 17.26 12.00 34.00 10.00 32.00 10.00 8.50 10.00 10.00 10.25 16.00 9.00 15.00 6.00 19.00 38.00 14.50 12.00 8.56 10.88 7.36 30.00 4.00 17.00 17.10 30.00 41.00 18.00 15.00 15.00 26.00 8.00 15.00 10.00 15.00 26.00 26.00 15.00 10.00 24.00 12.00 11.00 8.00 18.00 16.00 16.12

HOURLY PARKING RATE (USD) % CHANGE FROM 2010

0.0 0.0 23.3 0.0 6.3 0.0 3.2 2.6 1.4 0.0 0.0 2.5 0.0 0.0 0.0 0.0 -5.0 -7.3 20.8 -7.7 -1.6 – -8.0 1.2 0.0 0.0 – -3.2 2.5 0.0 – 0.0 0.0 -11.1 15.4 – -25.0 0.0 4.0 0.0 0.0 -4.0 – -26.7 0.0 20.0 0.0 0.8

HIGH

8.00 3.50 7.00 1.50 26.00 4.00 28.00 6.50 12.00 3.00 8.00 10.00 10.00 3.00 3.00 1.50 5.00 10.00 13.00 3.00 4.00 4.00 1.50 25.00 12.00 6.00 4.00 27.00 40.00 6.00 10.00 6.00 17.00 3.00 12.00 3.00 5.25 10.00 18.00 3.75 2.00 13.00 4.00 3.50 3.00 12.00 1.50 8.99

LOW

MEDIAN

1.00 2.00 3.00 1.50 5.00 1.00 10.00 1.00 2.25 0.75 1.00 1.00 2.00 1.00 0.50 0.50 2.00 2.25 2.00 1.00 1.07 2.00 1.00 4.00 2.00 3.00 3.00 10.00 9.00 2.25 3.00 1.00 8.00 1.50 1.50 0.50 1.00 6.00 2.50 2.25 1.00 4.00 1.00 1.50 1.00 9.00 0.75 2.63

4.00 1.75 6.00 1.50 12.00 2.00 17.00 3.50 7.00 1.25 3.00 4.50 8.00 1.50 1.00 1.00 3.00 6.00 4.50 2.00 1.47 3.50 1.29 12.50 6.00 5.00 3.80 20.00 22.00 4.00 6.00 2.00 13.00 2.50 5.00 1.00 3.00 8.00 9.00 3.00 1.00 9.00 2.00 2.25 2.00 10.00 1.00 5.32

CANADA DAILY PARKING RATE (CAD) MARKET

Calgary, AB Edmonton, AB Halifax, NS Kitchener-Waterloo, ON Montreal, QC Ottawa, ON Regina, SK Saskatoon, SK Toronto, ON Vancouver, BC Victoria, BC Winnipeg, MB CANADA NATIONAL AVERAGE

P. 2

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HIGH

35.00 30.00 20.00 18.00 20.00 24.00 10.00 12.00 38.00 31.00 15.00 12.00 22.08

LOW

11.00 8.00 10.00 10.00 15.00 12.00 6.00 8.50 14.00 10.00 10.75 8.00 10.27

MEDIAN

25.00 18.00 14.00 12.00 18.00 15.00 10.00 9.50 23.00 20.00 13.50 9.00 15.58

HOURLY PARKING RATE (CAD) % CHANGE FROM 2010

13.6 28.6 -12.5 20.0 5.9 -16.7 0.0 0.0 0.0 8.1 22.7 0.0 5.1

HIGH

10.00 5.00 4.00 3.00 10.50 7.00 3.00 3.00 21.00 9.00 2.25 4.50 6.85

LOW

3.00 3.00 2.00 2.00 6.00 4.50 1.00 2.00 4.00 2.50 1.00 2.00 2.75

MEDIAN

7.00 5.00 3.00 2.75 9.00 5.50 2.00 2.00 9.00 7.00 1.25 4.00 4.79

CBD PARKING RATE SURVEY | 2011 | NORTH AMERICA

UNITED STATES MONTHLY UNRESERVED PARKING RATE (USD) MARKET

Atlanta, GA Bakersfield, CA Bellevue, WA Boise, ID Boston, MA Charleston, SC Chicago, IL Cincinnati, OH Cleveland, OH Columbia, SC Columbus, OH Dallas, TX Denver, CO Fresno, CA Ft. Lauderdale, FL Greenville, SC Hartford, CT Honolulu, HI Houston, TX Indianapolis, IN Jacksonville, FL Kansas City, KS Las Vegas, NV Little Rock, AR Los Angeles, CA Memphis, TN Miami, FL New Haven, CT New York - Downtown New York - Midtown Oakland, CA Omaha, NE Orlando, FL Philadelphia, PA Phoenix, AZ Portland, OR Raleigh, NC Reno, NV Sacramento, CA San Diego, CA San Francisco, CA San Jose/Silicon Valley, CA Savannah, GA Seattle, WA St. Louis, MS Tampa, FL Walnut Creek, CA Washington, DC West Palm Beach, FL U.S. NATIONAL AVERAGE

HIGH

LOW

135.00 65.00 221.00 90.00 520.00 140.00 435.00 225.00 225.00 90.00 190.00 155.00 200.00 95.00 90.00 69.70 264.05 253.40 250.00 155.00 125.00 136.00 65.00 80.62 363.00 90.00 163.00 185.50 800.00 1,200.00 225.00 82.50 180.00 464.00 80.00 210.00 105.00 55.00 200.00 190.00 550.00 165.00 100.00 400.00 200.00 150.00 75.00 295.00 100.00 222.51

35.00 45.00 109.50 80.00 320.00 110.00 200.00 90.00 70.00 52.00 75.00 40.00 100.00 50.00 60.00 69.70 151.69 172.77 50.00 60.00 85.60 65.00 65.00 53.75 100.00 20.00 50.00 95.40 310.00 379.00 140.00 47.50 55.00 175.00 25.00 130.00 70.00 30.00 100.00 150.00 200.00 70.00 35.00 200.00 45.00 100.00 45.00 220.00 30.00 102.69

MEDIAN

95.00 55.00 180.00 80.00 438.00 120.00 289.00 160.00 140.00 65.00 110.00 85.00 175.00 60.00 78.00 69.70 201.12 217.28 153.00 120.00 101.65 90.61 65.00 66.17 209.50 57.00 125.00 137.00 533.00 541.00 192.50 67.50 80.00 303.63 50.00 185.00 100.00 45.00 155.00 170.00 375.00 100.00 80.00 294.00 90.00 125.00 60.00 260.00 56.00 155.22

MONTHLY RESERVED PARKING RATE (USD)

% CHANGE FROM 2010

2.2 0.0 11.1 0.0 3.1 9.1 -9.7 6.7 -9.7 0.0 -12.0 0.0 0.0 -7.7 20.0 0.0 14.9 -3.4 4.8 4.3 6.4 – 0.0 11.9 -0.2 0.0 -16.7 – 0.8 0.6 -1.3 – -8.6 1.2 25.0 0.0 – 0.0 -22.5 0.0 0.0 0.0 0.0 3.2 – -7.4 0.0 6.1 -18.7 -0.2

HIGH

LOW

200.00 70.00 390.00 100.00 675.00 150.00 515.00 250.00 245.00 135.00 220.00 300.00 275.00 100.00 200.00 94.70 264.05 425.00 417.00 175.00 155.15 155.00 95.00 91.38 598.00 140.00 193.00 – – – 265.00 117.50 360.00 582.00 95.00 260.00 145.00 75.00 225.00 275.00 600.00 250.00 280.00 680.68 160.00 250.00 150.00 625.00 125.00 264.10

40.00 60.00 150.00 90.00 350.00 125.00 260.00 170.00 150.00 65.00 100.00 100.00 185.00 60.00 100.00 94.70 151.69 260.00 98.00 105.00 107.00 94.00 95.00 59.12 192.00 65.00 110.00 – – – 250.00 47.50 75.00 200.00 30.00 150.00 115.00 45.00 150.00 190.00 225.00 150.00 125.00 265.00 110.00 145.00 100.00 350.00 40.00 134.76

MEDIAN

150.00 60.00 317.22 95.00 453.00 135.00 400.00 200.00 185.00 85.00 142.00 155.00 225.00 70.00 138.00 94.70 201.12 345.28 237.00 150.00 107.00 120.00 95.00 74.02 282.50 100.00 150.00 – – – 255.00 67.50 150.00 370.13 65.00 190.00 125.00 60.00 185.00 225.00 400.00 200.00 160.00 379.00 140.00 195.00 125.00 475.00 72.00 187.08

CANADA MONTHLY UNRESERVED PARKING RATE (CAD) MARKET

HIGH

LOW

Calgary, AB Edmonton, AB Halifax, NS Kitchener-Waterloo, ON Montreal, QC Ottawa, ON Regina, SK Saskatoon, SK Toronto, ON Vancouver, BC Victoria, BC Winnipeg, MB CANADA NATIONAL AVERAGE

625.00 350.00 187.75 137.20 461.50 282.00 215.25 183.75 621.50 501.42 246.40 278.25 340.84

252.00 130.00 157.75 107.35 250.00 187.00 110.25 152.25 226.00 169.40 123.20 120.75 165.50

MEDIAN

472.50 275.00 166.75 128.24 296.21 195.00 168.00 170.00 332.38 287.98 184.80 152.25 235.76

MONTHLY RESERVED PARKING RATE (CAD)

% CHANGE FROM 2010

4.2 0.0 5.4 9.7 5.6 -6.6 3.2 1.8 -1.2 7.9 2.7 0.0 2.6

HIGH

LOW

708.00 375.00 230.00 152.87 594.00 290.00 246.75 367.50 680.00 596.29 369.60 278.25 407.36

340.00 240.00 155.25 118.65 338.63 200.00 131.25 152.25 310.00 243.94 212.80 152.25 216.25

MEDIAN

504.00 340.00 157.75 135.76 422.77 240.00 190.00 173.25 480.25 420.11 280.00 194.25 294.85

COLLIERS INTERNATIONAL |

P. 3

CBD PARKING RATE SURVEY | 2011 | NORTH AMERICA

UNITED STATES

MARKET

Atlanta, GA Bakersfield, CA Bellevue, WA Boise, ID Boston, MA Charleston, SC Chicago, IL Cincinnati, OH Cleveland, OH Columbia, SC Columbus, OH Dallas, TX Denver, CO Fresno, CA Ft. Lauderdale, FL Greenville, SC Hartford, CT Honolulu, HI Houston, TX Indianapolis, IN Jacksonville, FL Kansas City, KS Las Vegas, NV Little Rock, AR Los Angeles, CA Memphis, TN Miami, FL New Haven, CT New York - Downtown New York - Midtown Oakland, CA Omaha, NE Orlando, FL Philadelphia, PA Phoenix, AZ Portland, OR Raleigh, NC Reno, NV Sacramento, CA San Diego, CA San Francisco, CA San Jose/Silicon Valley, CA Savannah, GA Seattle, WA St. Louis, MS Tampa, FL Walnut Creek, CA Washington, DC West Palm Beach, FL U.S. NATIONAL AVERAGE

GARAGES OFFERING ADDITIONAL SERVICES (%)

GARAGES WITH WAITING LISTS (%)

TYPICAL WAIT PERIOD (MONTHS)

AVAILABILITY OF PARKING

GARAGES TO BE ADDED IN NEXT 24 MONTHS

NUMBER OF PARKING SPOTS TO BE ADDED

25% 0% 25% 0% 25% 0% 50% 25% – 0% 20% 50% 25% 10% 25% 0% 10% 5% 75% 10% 25% 0% 0% 20% 15% 5% 25% 10% 100% 100% 5% 0% 20% 20% 10% 10% 0% 0% 25% 5% 50% 20% 0% 8.10% 15% 0% 10% 50% 25% 19.9%

0% 0% 0% 75% 0% 50% 15% 50% – 20% 50% 25% 0% 0% 5% 0% 20% 10% – 5% 5% 5% 0% 25% 10% 5% 5% 20% 5% 5% 0% 75% 20% 5% 0% 5% 10% 0% 0% 0% 5% 0% 0% 5% 25% 10% 10% 10% 5% 12.7%

– – – – – 12 2.5 – – 3 – – – – – – 1 – – 1 1 – – 1.5 – – – 4.5 – – 24 6 – – – – 6 – – – – – – – 3 – – – – 5.5

Fair Fair Fair Limited Fair Limited Fair Limited – Fair Fair Fair Fair Fair Fair Abundant Abundant Limited Limited Fair Fair Fair Fair Fair Fair Fair Fair Fair Fair Fair Fair Limited Fair Fair Abundant Fair Fair Fair Fair Limited Fair Fair Limited Fair Limited Fair Abundant Fair Fair –

0 0 0 0 0 0 0 1 – 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 2 0 0 0 0 0 0 0 – 0 0 0 0 0 0 –

0 0 0 0 0 0 0 1,400 – 532 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 550 0 0 0 0 0 0 1,000 0 0 0 0 0 0 0 – 0 0 0 0 0 0 –

GARAGES OFFERING ADDITIONAL SERVICES (%)

GARAGES WITH WAITING LISTS (%)

TYPICAL WAIT PERIOD (MONTHS)

AVAILABILITY OF PARKING

GARAGES TO BE ADDED IN NEXT 24 MONTHS

NUMBER OF PARKING SPOTS TO BE ADDED

50% 10% 75% 15% 25% 25% 50% 75% 15% 25% 50% 5% 35.8%

– 1 10.5 – 5 3 60 18 – 2 9 2.5 9.1

Fair Fair Limited Fair Limited Fair Limited Limited Fair Fair Limited Fair –

3 1 0 1 0 1 1 0 0 0 0 0 –

n/a n/a 0 412 0 50 53 0 0 0 0 0 –

CANADA

MARKET

Calgary, AB Edmonton, AB Halifax, NS Kitchener-Waterloo, ON Montreal, QC Ottawa, ON Regina, SK Saskatoon, SK Toronto, ON Vancouver, BC Victoria, BC Winnipeg, MB CANADA NATIONAL AVERAGE

P. 4

| COLLIERS INTERNATIONAL

10% 5% 0% 0% 65% 50% 0% 0% 25% 25% 0% 5% 15.4%

CBD PARKING RATE SURVEY | 2011 | NORTH AMERICA

Parking Rates Little Changed From 2010 Continued from page 1

UNITED STATES • Monthly

parking rates decreased marginally during the past 12 months, dropping $0.34 or 0.2%.

• The • By

monthly U.S. median parking rate now averages $155.22 USD per month.

contrast daily rates increased slightly rising 0.8%.

• The

U.S. median rate for daily parking now averages $16.49 USD.

• As

was the case a year ago, extremes in monthly parking rates range from a high of $1,200.00 USD in Midtown Manhattan to a low of $20.00 USD in Memphis.

• The

five most expensive parking districts (as represented by median rate) in the United States: Midtown Manhattan ($541.00 USD), Lower Manhattan ($533.00), Boston ($438.00), San Francisco ($375.00) and Chicago ($289.00) per month.

• The

five least expensive: Reno ($45.00), Phoenix ($50.00 USD), Bakersfield ($55.00), West Palm Beach ($56.00), and Memphis ($57.00) median rate per month.

• Continuing

a trend seen over the past few years, 12.7% of parking garages had a waiting list with an average wait of 5.5 months, compared with 12 months ago when 11.6% had a waiting list with an average wait of 6.2 months. Three years ago 20.9% had a waiting list.

• In

all but a few cities, parking is far from abundant. Just four markets— Greenville, S.C., Phoenix, Hartford and Walnut Creek, Calif.—described the supply of parking in their city as ample or plentiful. Nearly three quarters (73%) of cities surveyed described supply as “fair” (i.e., parking garages are 60-80% full Mon-Fri and on weekends during special events), while 19% indicated parking was “limited” (parking garages are usually full Mon-Fri and on weekends during special events) and eight percent said “abundant” (parking garages are consistently less than 60% full). By these measures, parking pressures have increased modestly.

• Just

10% of cities surveyed indicated new garages will be constructed in the next 24 months.

CANADA • Monthly

parking rates in Canada increased by $5.93 CAD, a 2.6% gain over the past year. This is broadly in line with increases recorded in 2009–2010.

• The

monthly median parking rate in Canada now averages $235.76 CAD.

• By

comparison Canadian daily rates increased by 5.1% after increasing 2.0% in 2009/2010

• In

central business districts across Canada the median rate for daily parking now averages $15.58 CAD.

• The

five most expensive parking districts in Canada (as represented by median rate) are Calgary ($473.00 CAD), Toronto ($332.00), Montreal ($296.00), Vancouver ($288.00), and Edmonton ($275.00) per month.

INTERNATIONAL (see global report for full list) • London

again ranked as the most expensive (as represented by median monthly rate) with London – City leading the way ($1,084.00 USD) followed by London – West End ($1,014.00), Zurich ($822.00), Hong Kong ($745.00), Tokyo ($744.00), Rome ($719.00), Perth ($717.00), Geneva ($705.00), Sydney ($695.00) and Oslo ($612.00) rounding out the top ten.

UNITED STATES MONTHLY PARKING RATES* (USD) 0 New York - Midtown New York - Downtown Boston, MA San Francisco, CA Philadelphia, PA Seattle, WA Chicago, IL Washington, DC Honolulu, HI Los Angeles, CA Hartford, CT Oakland, CA Portland, OR Bellevue, WA Denver, CO San Diego, CA Cincinnati, OH U.S. NATIONAL AVERAGE Sacramento, CA Houston, TX Cleveland, OH New Haven, CT Miami, FL Tampa, FL Charleston, SC Indianapolis, IN Columbus, OH Jacksonville, FL Raleigh, NC San Jose/Silicon Valley, CA Atlanta, GA Kansas City, KS St. Louis, MS Dallas, TX Boise, ID Orlando, FL Savannah, GA Ft. Lauderdale, FL Greenville, SC Omaha, NE Little Rock, AR Columbia, SC Las Vegas, NV Fresno, CA Walnut Creek, CA Memphis, TN West Palm Beach, FL Bakersfield, CA Phoenix, AZ Reno, NV 0

100

200

300

400

500

438.00 375.00 303.63 294.00 289.00 260.00 217.28 209.50 201.12 192.50 185.00 180.00 175.00 170.00 160.00 155.22 155.00 153.00 140.00 137.00 125.00 125.00 120.00 120.00 110.00 101.65 100.00 100.00 95.00 90.61 90.00 85.00 80.00 80.00 80.00 78.00 69.70 67.50 66.17 65.00 65.00 60.00 60.00 57.00 56.00 55.00 50.00 45.00 100 200 300 400 500

600 541.00 533.00

U

San

600

*Monthly unreserved median rates

CANADA MONTHLY PARKING RATES* (CAD) 0 Calgary, AB Toronto, ON Montreal, QC Vancouver, BC Edmonton, AB CANADA NATIONAL AVERAGE Ottawa, ON Victoria, BC Saskatoon, SK Regina, SK Halifax, NS Winnipeg, MB Kitchener-Waterloo, ON

100

0

100

200

300

400

332.38 296.21 287.98 275.00 235.76 195.00 184.80 170.00 168.00 166.75 152.25 128.24 200 300 400

500 600 472.50

500

600

*Monthly unreserved median rates

COLLIERS INTERNATIONAL |

P. 5

CBD PARKING RATE SURVEY | 2011 | NORTH AMERICA

512 offices in 61 countries on 6 continents United States: 125 Canada: 38 Latin America: 18 Asia Pacific: 214 EMEA: 117 • $1.5

billion in annual revenue

million square feet under management

• 979

• Over

12,500 professionals and staff

COLLIERS INTERNATIONAL 601 Union Street, Suite 4800 Seattle, WA 98101 TEL +1 206 695 4200

FOR MORE INFORMATION Ross J. Moore Chief Economist | USA TEL +1 617 722 0221 EMAIL ross.moore@colliers.com

Methodology and Definitions Survey only includes covered or underground parking garages located in prime central business districts (CBDs). Parking rate data was collected during the month of June 2011 and includes all relevant taxes. Sources include third parties, owners/operators and Colliers International.

Daily Parking – The customer is permitted to park for a full day and is not impacted by “early bird” restrictions.

Parking Availability – • Fair:

parking garages are 60-80% full Mon-Fri and on weekends during special events.

• Limited:

parking garages are usually full Mon-Fri and on weekends during special events.

Copyright © 2011 Colliers International.

The information contained herein has been obtained from sources deemed reliable. While every reasonable effort has been made to ensure its accuracy, we cannot guarantee it. No responsibility is assumed for any inaccuracies. Readers are encouraged to consult their professional advisors prior to acting on any of the material contained in this report.

• Abundant:

parking garages are consistently less than 60% full. (US only)

Unreserved Parking – The customer is guaranteed a space upon entry.

Reserved Parking – The customer is guaranteed the same space for every entry.

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