Crain's Chicago: Will Uber and Driverless Cars Turn the Parking Biz into Roadkill?
According to Crain's Chicago:
As Chicago braces for the long-term impact of ride-hailing apps and self-driving cars, there's a low-tech concept that could be disrupted the most: the parking lot.
"The rise of ride hailing and the pending arrival of driverless cars will combine to be the biggest change in real estate in some time, maybe since the arrival of the auto itself," says Dave Bragg, managing director at Green Street, which analyzes real estate investment trusts.
"The hardest time real estate investors are having with this is, there's an inability to wrap their arms around how quickly the change is occurring," Green Street's Bragg says. "Uber hasn't been used by the majority of the population yet, but it's increasing rapidly. What will happen over the next several years and several decades is what's really fascinating."
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