CPS

Office Buildings

As the nation's largest professional parking management company, Central Parking System has extensive experience managing parking facilities serving major office buildings and mixed-use complexes.  With the significant increase in real estate values and the subsequent financial crisis that has followed, Central Parking System is focused on our core mission of Creating Financial Value Through ParkingTM.  The company has developed a unique operating and evaluation platform, ParkROITM, which enhances its ability for Unlocking the Revenue Potential from ParkingTM for its clients.  We believe ParkROITM is the most comprehensive and successful parking revenue evaluating and enhancement tool in the industry and provides Central Parking System a significant competitive distinction.

The company utilizes this process exclusively to increase our key evaluation metric, Net Income Per Space.  All of our properties are evaluated using the ParkROITM model.  The ParkROITM is a mathematical formula as follow:

V x R x C + OE = ParkROITM

V - Volume:  Central Parking System reviews each project as it relates to empty spaces, turnover, oversell and the opportunities that may be present based on volume increases.  Each property we evaluate is unique and the individual project occupancy considerations are important.

R - Rate:  Central Parking System reviews each project as it relates to parking rates, including monthly, daily and hourly rates.  We use our rate program where applicable called RateConnectTM as an analysis tool to ensure maximum rates and their impact on Net Income per Space.

C - Collection Percentage:  Central Parking System reviews each project as it relates to all aspects of cash controls, including automation.  Collection is also a function of Central Parking's industry standard setting FinancialCentralTM, the parking industry's first homogeneous financial oversight process of revenue reporting, audit, billing, and credit card transaction security.

OE - Operating Efficiency:  Central Parking System reviews each project as it relates to operating expenses.  We focus on how we can reduce expenses by shared management, reduced payroll cost through automation, risk management and ancillary expense control.  Across the United States, Central Parking has over 100 current parking automation projects in planning and development to be deployed in the next 12 months.

Office Building facility clients include:

  • Time Warner Center, New York, NY
  • 1700 Market Street, Philadelphia, PA
  • Tabor Center, Denver, CO
  • 125 High Street, Boston, MA
  • Wilshire Courtyard, Los Angeles, CA
  • Metropolitan Square Building, St. Louis, MO
  • Williams Square, Dallas, TX
  • Duke Energy Center, Cincinnati, OH
  • Mellon Financial Center, Miami, FL
  • One Allen Center, Houston, TX
  • One Nashville Place, Nashville, TN
  • 400 Poydras, New Orleans, LA
  • 555 California, San Francisco, CA
  • 100 E Wisconsin, Milwaukee, WI
    		•   Offices

    "Central Parking System has professionally and efficiently managed the parking garage of the Mellon Financial Center a Class "A" office building located in the Brickell Financial Corridor since its inception in 2000. Central Parking System has coordinated and developed parking to meet the ever-changing needs of our office and retail tenants. It is Central Parking's professional attitude and performance that enhances our tenant relations."

    Arturo L. Fernandez, RPA
    General Manager
    Mellon Financial Center 

    Allen Center


    For more information on our office building parking management services, please contact:

    Jerry Skillett
    Vice President Business Development
    Central Parking System
    626 Wilshire Boulevard
    Suite 1050
    Los Angeles, CA 90017
    Phone (213) 612-4460