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
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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
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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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