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How Apartment Owners Should Navigate Shared Retail Parking

Leases should cover the nuanced details of parking allowances for retail tenants in apartment communities.

Except in the densest cities, parking is a key amenity for most retailers and renters. Combine the two—as mixed-use communities do—and parking can become a challenge. Gary Glick, a partner with Cox, Castle & Nicholson, has a handful of tips for apartment owners to tackle parking provisions in retail leases.

First, it is important to note that apartment parking structures look much different than those attached to shopping centers. “As opposed to most shopping centers, the parking in a multi-family project is usually within a structure and gated,” Glick tells GlobeSt.com. “In most cases it is subterranean. The residential parking spaces are typically segregated from the retail parking spaces.”

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Kelsi Maree Borland

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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