WORLD PROPERTY JOURNAL Commercial News » Dallas Edition
By Michael Gerrity | October 3, 2018

Based on a new report by global real estate consultant CBRE, office parking ratios in both downtown and suburban office markets across the U.S. and Canada are unlikely to see significant change in the next five years, despite increases in ride sharing and the anticipation of autonomous vehicles.

CBRE surveyed a mix of office leasing professionals and office investors, 75 percent of whom said that tenant demand for office parking will stay the same, or even increase, by 2023, as most workers--86 percent in the U.S.--still commute by car. In the same five-year period, parking prices will likely rise, especially in downtown CBDs

When broken down by downtown and suburban office markets, 87 percent of respondents said that downtown parking ratios were likely to stay the same or decrease by 2023, while 81 percent said suburban parking ratios are likely to stay the same or increase. Read more.