125%
occupancy increase
88%
first-year revenue growth
Sustainability
footprint enhanced
Built in 1990, Lake Merritt Tower is a 10-story low-rise commercial office building, situated on Oakland’s tidal lagoon, Lake Merritt. When searching for a new parking management company, Lake Merritt’s main objective was to increase occupancy and bottom-line income. Additionally, as a LEED Gold certified building, Lake Merritt sought a parking vendor that could incorporate sustainability services to further drive their green initiatives.
In the building’s two subterranean parking garages, Propark implemented a suite of green products and services including Juice Bar® electric vehicle charging stations, tire inflation stations, hybrid vehicle designated parking, and a weekly waterless car wash. As a direct result of Propark’s collaborative efforts with building ownership, the San Francisco Business Times ran a feature article on the facility showcasing these sustainability initiatives and building awareness around this parking location.
Within the first three months of Propark’s management of the Lake Merritt Tower’s parking component, occupancy rose from under 40% to over 90%, yielding an 88% increase in revenue during the first year. Additionally, Propark’s implementation of key initiatives elevated the sustainability footprint of Lake Merritt Tower.