The Weekly Take from CBRE Drive My Car: Turning parking spots into steady cash flow
Mar 23, 2026
Alan Lazowski, CEO of Laz Parking, a leader in tech-enabled parking operations. Rob Zuritzky, CEO of Parkway Corporation, a third-generation parking and development expert. They discuss parking as essential urban infrastructure. They explore EV charging and autonomous vehicle hubs. They cover tech like camera AI and dynamic pricing. They examine valuation, redevelopment potential and parking as steady cash-flow real estate.
AI Snips
Chapters
Transcript
Episode notes
One Parking Space Can Be Many Revenue Streams
- A single parking space can generate more revenue than typical real estate by turning multiple times per day.
- Alan explains downtown spots can reach 110–120% utilization by mixing monthly, transient, dining and event demand.
High Turn Garages Sell The Same Spot Multiple Times
- Rob shares that top lots can achieve 3–3.5 turns daily while New York garages can reach five to seven turns.
- He frames turns as selling the same parking spot multiple times a day at short-term, often premium, rates.
Buy Low Operate Better Then Redevelop
- Buy undervalued lots or garages and increase NOI through better operations, tech and dynamic pricing before redevelopment.
- Alan notes purchases at 4–8% caps can be lifted 100–200 basis points by 'lazification' and efficiency improvements.