Smarking Boosts Commercial Real Estate Revenue and Asset Value Via Dynamic Pricing Engine for Parking

▤ Summary

The results were positive in all locations, leading Smarking and their customers, including some of the largest commercial real estate landlords in the country, to expand to over ten cities in just two quarters. “Our partnership with Smarking helps us deliver competitive investment performance through economic and property market cycles, which is a driving principle here at LaSalle.” “Millennium is one of the largest garages in the world, serving downtown Chicago,” said Rick West, CEO of Millennium Parking. “Even if we hired a full-time person just to set fees, we couldn’t post hundreds of rates multiple times a day, let alone develop the number of products and analyze the results Smarking’s algorithm does.” Parking is an often-overlooked revenue stream for asset owners. “Many of our forward thinking commercial real estate customers saw the lower hanging fruit from parking assets, and are demanding revenue maximization there, just like their leasing businesses,” said Wen Sang, CEO of Smarking. Consisting of a team of MIT data scientists, urban real estate and mobility experts, Silicon Valley software engineers, and business professionals, Smarking’s market leading business intelligence and yield management software currently empowers over 2,000 parking locations across North America, maximizing asset income, tenant satisfaction, and cost saving.

▦ Linked Companies

Smarking

$1M to $5M