Technology has fundamentally changed the way that people work and commute, creating uncertainty among both office owners and occupiers regarding parking requirements. With many employees able to work seamlessly between the office, home, airports, hotels and other locations, many companies are allocating fewer square feet per employee in the office.
Autonomous vehicles (AVs) will be the next, much more significant transportation disruption and will present both challenges and opportunities for owners of office buildings and parking structures.
How are these technology and transportation trends impacting office parking usage and development?
To better understand perceptions regarding the timing and nature of these changes, CBRE conducted a survey of approximately 200 commercial real estate professionals with CBRE Advisory & Transaction Services, CBRE Global Investors and Trammell Crow Company across the largest 15 U.S. and Canadian office markets.
Download the report to see the complete analysis of parking, commuting and relevant employment, demographic and key market data for these 15 office markets.