Top 5 Largest Parking Real Estate Companies in 2024

Last Updated: February 2024

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Top 5 Parking Companies in the United States

Below we delve into the profiles of these top companies, exploring their history, services, and the role they play in shaping the parking industry in the United States.These industry leaders are ranked based on factors such as number of properties, revenue, among other things.

1. LAZ Parking

LAZ Parking, founded in 1981 by three childhood friends, has grown from a single valet location to one of the largest parking companies in the United States. The company manages, leases, or owns over a million parking spaces across numerous locations nationwide. Central to LAZ Parking’s philosophy is “The LAZ Way,” a commitment to exceptional customer service and a culture that regards each employee as a member of the LAZ family. This focus on people and service is a defining characteristic of the company’s approach to business.

2. SP Plus

SP Plus Corporation is a prominent provider of technology and operations management services in the mobility sector, catering to clients in aviation, commercial, hospitality, and institutional realms across North America and Europe. The company excels in delivering industry-leading mobility solutions by combining innovative technology with top-tier operational practices. SP Plus Corporation is also dedicated to supporting diversity, equity, and inclusion, evident in its commitment to career planning, development, training, and mentoring. Leveraging business intelligence and advanced technology, the company aims to increase revenue, reduce costs, and maximize profitability.

3. Propark Mobility

Propark Mobility, established in 1984, began with a modest 60-space parking lot in Hartford, Connecticut, and has since expanded to over 750 locations across more than 100 cities in the United States. The company specializes in providing parking, mobility, and electrification services and is known for its innovative approach to technology. Propark places a strong emphasis on positive employee practices and social responsibility, contributing to a robust company culture and community support. The company’s diverse range of services includes event parking and mobility solutions for various clients, including notable projects at Boston’s TD Garden and Google’s west coast campuses.

4. Reimagined Parking

Reimagined Parking, formerly known as REEF Parking, stands as one of the largest parking management companies in North America. The company operates approximately 3,400 parking facilities with 8,000 employees across more than 500 cities in the U.S. and Canada. Recognized for its tech-powered, people-driven approach, Reimagined Parking leads the industry in valet shuttle, ground transportation, and parking technology products and services. The company’s diverse portfolio includes high-profile commercial real estate, retail, hospitality, airport, event, healthcare, municipal, and education locations across North America.

5. Ace Parking

Ace Parking Management Inc. is at the forefront of the parking and mobility solutions industry, addressing the complexities of managing people, vehicles, and data in the era of technological advancement and new mobility modes. The company excels in transforming parking and mobility challenges into opportunities for growth and enhanced customer experiences. Ace Parking’s focus includes traditional parking operations as well as embracing new mobility solutions and technologies. Their commitment to innovation and customer service positions them as a trusted partner in the evolving mobility landscape.

Largest Parking Companies FAQ

Who are the Top 10 Parking Companies in the United States?

The United States parking market is dominated by several key players that have made significant contributions to the industry. Below we take a look at the top 10 parking companies in the U.S.

Top 10 Parking Companies:

What Parking Companies are Publicly Traded?

Publicly traded parking companies offer an interesting investment opportunity in the realm of urban mobility and infrastructure. These real estate stocks and the companies behind them are listed on stock exchanges, making their financial performances and growth prospects accessible to investors.

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How Do The 5 Largest Parking Companies Differentiate Themselves?

The five largest parking rental property companies in the United States each have distinct characteristics that set them apart in the competitive parking and mobility industry. Here’s a brief overview of how they differentiate themselves:

Company	Differentiation
LAZ Parking	Emphasizes customer service and a strong company culture, known for “The LAZ Way.”
SP Plus Corporation	Combines innovative technology with best-in-class operations, focusing on diversity and equity.
Propark	Known for technological innovations in parking, mobility, and electrification services.
Reimagined Parking	Offers tech-powered, people-driven parking solutions; notable for its diverse portfolio across North America.
Ace Parking Management Inc.	Focuses on traditional parking operations and new modes of mobility, embracing technology and customer experience.

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What are Current Trends Influencing Parking Companies?

Current trends influencing large parking companies include the integration of advanced technology for efficient parking management, such as automated parking systems, mobile payment apps, and other types of parking property management software. There’s also a growing emphasis on sustainable practices, including the development of electric vehicle charging stations within parking facilities. The rise of ride-sharing services and the need for adaptable parking solutions are further shaping the industry. Additionally, companies are increasingly focusing on enhancing the customer experience through improved convenience and safety measures in parking areas.

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