The Changing Rules Of Parking
The customer's experience starts when they arrive at the site. Therefore, it's crucial to make the right first impression. Retailers who are savvy in location searches know it's important to look beyond the building footprint.
Retailers compete with each other and e-commerce, even though school and office locations make the most of every parking situation.
A pleasant parking experience is essential. Many shopping centers in Los Angeles failed because there was insufficient or inconvenient parking.
Finding the sweet spot doesn't mean you have to choose the largest lot. However, it is wise to understand the current realities of retail parking and how they are changing.
What The Pros Know
Although city zoning codes may include parking requirements, which generally refer to the number of parking spaces per area of use, developers will often commission a parking study in order to determine the demand. A shared lot may have 150 spaces. However, a retail store and office building will need 100 spaces. Retail activity is high in the evening hours when most offices are closed.
An analysis will give a better idea about actual demand, such a weekday versus weekend or time of the year.
Factors such as the use of the land, the number of people driving to it, and whether the site is retail-only or mixed-use all matter. Access has been a key component of our parking studies. It is about how people get to a site by bike, scooter, or walking.
Parking experts know that data is crucial in determining how a lot should look. They also know that parking experts are aware of the fact that, even outside cities, almost all customers will not drive.
Ride-Share Cars
One element driving a change in parking rules is ride-sharing. According to Pew Research Center data, 33% of Americans had never heard of Lyft or Uber in 2015. This dropped to 3% in 2018. 36% of those who used the services we were using in 2018.
The biggest change is the introduction of drop-off and pick-up zones. Such areas should be easily accessible by customers and separate from self-parking. They also need to not spill onto the streets.
Some areas have seen a decrease in the demand for traditional parking spaces, especially where ride-share is popular. We've seen a 15%-20% decrease in parking demand in urban areas because of it.
Smart Community Advances
Another factor that influences parking lot protocol is the growing transit-oriented community trend. This allows residents to have easy access and less dependence on cars. This is a big incentive for developers as well as reducing traffic.
Although some urban areas are denser than others, this trend is contagious and will eventually be adopted by many communities at different levels. For example, a recent study by his company found that 70% of New York City shoppers use a car to get to work.
Future Rules
When signing leases in urban and suburban areas, retailers should think about how people travel and the impact on parking. What we have seen over the past five years in parking has changed so greatly that you can only imagine the future five years.
Mobility options will only increase. Autonomous buses and shuttles, small cars, flying taxis with drones, and even smaller cars are all possible. We never know what might happen in our lifetime.
The same lot might be able to serve more people even with the increasing population. Perhaps parking structures will become more like mobility hubs.
Many developers are keen to "future-proof" their parking structures, which will allow for a reduction in parking space use over the long term.
Observation Elements
Before selecting a site, retailers should ask these questions:
Are there any parking studies? That parking studies are often made public by developers when they work with them.
Is there a reserved space in the lot? This usually indicates a problem. Most developers are reluctant to allocate spaces in a shared-use setting. You should be able to share parking if you plan and design your space properly.
Where will my employee's park? Employees will be parking in these spaces throughout the day. Therefore, you might need to limit employee parking on site (ideally offering assistance with alternative parking) to accommodate customers.
Are the spaces available for ride-sharing? A suburban plaza with drop-off and pick-up areas indicates a progressive landlord who takes a holistic approach to the park.
Is there a bike rack or a place for people to park their bikes? These amenities are another sign of a future-looking landlord.
Is parking technology being used? Automated parking guidance, space counters, and red/green lights are indicators of parking areas that enhance the customer experience.
Are there any valid complaints about parking on the site?
What will my clients need? An example is a salon where clients spend hours will have a different need than a fast-casual restaurant with more parking turnover. Retailers who anticipate a specific clientele might expect a higher percentage or lower number of customers driving in.
Retail parking demand is not an exact science, as all these questions suggest. You must be able to read between the lines when parking any business on a property.
