They’re gloom, desolate, and often dirty–it can be hard to think of subterranean parking garages as anything other than concrete barrens. But what if these cramped, forgotten openings were actually untapped gems of real estate properties?
With the rise of large-hearted data, IoT, and connected automobiles, the parking industry is undergoing dramatic transformation, and investors worldwide are starting to take note.” The parking manufacture is a significant market but remains scrapped with countless opportunities for technological innovation ,” said SoftBank when it recently invested hundreds of millions in ParkJockey, a startup that’s monetizing parking lots and shaping it more efficient for motorists to find parking zone. Hoping to take advantage of the acceleration toward electric cars and the data produced by parking lots, Sumitomo time bought Q-Park Nordics for $450 million. With similar hopes, Park2 4 partnered with the Development Bank of Japan to acquire the U.K.’s largest parking lot operator for $407 million.
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