Jodi Meade, principal and director of the automotive properties group at the L.A. office of Avison Young in Los Angeles.

LOS ANGELES—Locally based Jodi Meade, principal and director of Avison Young's Automotive Properties Group, is seeing an ever-growing trend toward alternative fuel vehicles. She recently told GlobeSt.com that “we are slowly moving away from traditionally powered vehicles as we have historically known them.”

According to Meade, there is also a revolution with autonomous/self-driving vehicles. “It has picked up in velocity over the last couple of years,” she tells GlobeSt.com. “On a higher level, it is really about how this new technology fits into day-to-day lives and its practicality relating to how it fits in with rules of the road, and how cities, communities and individuals will adapt to self-driving cars.”

As GlobeSt.com previously reported, Fitch Ratings recently said that some REITs have begun to consider their options for potential excess parking facilities as ride-sharing takes hold and self-driving cars are on the horizon. “Depending on zoning and the configuration of a shopping center, using excess parking facilities or underutilized retail space to develop small scale last mile delivery and pickup distribution facilities may be an option.”

And according to Carlos Lopez of Hanley Investment Group, driverless car as a mainstream mode of transportation remains a thing of the future, but ride sharing services like Uber and Lyft, in essence, perform the same duties for many and are becoming a part of the everyday vernacular. “The question arises as to what will be the future impact on parking in real estate and future development. Green Street Advisors estimates that the current parking needs will be cut in half in the next 30 years eliminating the need for 75 million square feet of parking space. In addition to the reduction in cars, from a demographic standpoint, millennials being the largest demographic sector are most likely to take public transportation, less likely to own a car and 18% of this demographic base as a percentage of the age group is less likely to have or obtain a driver's license than in the past.”

Jodi Meade, principal and director of the automotive properties group at the L.A. office of Avison Young in Los Angeles.

LOS ANGELES—Locally based Jodi Meade, principal and director of Avison Young's Automotive Properties Group, is seeing an ever-growing trend toward alternative fuel vehicles. She recently told GlobeSt.com that “we are slowly moving away from traditionally powered vehicles as we have historically known them.”

According to Meade, there is also a revolution with autonomous/self-driving vehicles. “It has picked up in velocity over the last couple of years,” she tells GlobeSt.com. “On a higher level, it is really about how this new technology fits into day-to-day lives and its practicality relating to how it fits in with rules of the road, and how cities, communities and individuals will adapt to self-driving cars.”

As GlobeSt.com previously reported, Fitch Ratings recently said that some REITs have begun to consider their options for potential excess parking facilities as ride-sharing takes hold and self-driving cars are on the horizon. “Depending on zoning and the configuration of a shopping center, using excess parking facilities or underutilized retail space to develop small scale last mile delivery and pickup distribution facilities may be an option.”

And according to Carlos Lopez of Hanley Investment Group, driverless car as a mainstream mode of transportation remains a thing of the future, but ride sharing services like Uber and Lyft, in essence, perform the same duties for many and are becoming a part of the everyday vernacular. “The question arises as to what will be the future impact on parking in real estate and future development. Green Street Advisors estimates that the current parking needs will be cut in half in the next 30 years eliminating the need for 75 million square feet of parking space. In addition to the reduction in cars, from a demographic standpoint, millennials being the largest demographic sector are most likely to take public transportation, less likely to own a car and 18% of this demographic base as a percentage of the age group is less likely to have or obtain a driver's license than in the past.”

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Natalie Dolce

Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.

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