Unique Dallas-Area Neighborhood Unlocks $9–10M in Portfolio Value by Modernizing Parking with Vend

The Challenge: Forgone Revenue & Outdated Access Control

The client’s two million square foot portfolio of premium office, residential, and retail space in a unique Dallas-area neighborhood was designed with high-end service in mind, but the legacy parking system was leaving value on the table.

Parking was fully restricted to tenants, employees, and authorized visitors. Retail visitors were required to valet, and all guest parking was free of charge. On-site security staff acted as gatekeepers, with limited visibility into actual garage usage.

While convenient for a select few, the setup came with costly tradeoffs:

• $9–10M in unrealized portfolio value

• $2M estimated forgone annual revenue

• Abuse of access due to manual visitor screening

• No data on vehicle access or visitor volume

• Lack of accountability around tenant and retail employee parking quotas

• Longer valet wait times caused by manual ticket processes

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“We had an opportunity to rethink parking not just as a valuable tenant amenity, but as a revenue stream. With Vend, we’ve accomplished both, unlocking significant value for this portfolio while improving the quality of parking for our tenants and their guests.”

— Head of Asset Management

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The Solution: Digitized Access, Smarter Revenue Capture

Vend partnered closely with the property team to design a customized phased rollout that balanced speed with operational precision. The strategy ensured seamless onboarding for tenants, minimized disruption to day-to-day operations, and enabled the property to begin capturing revenue quickly.

Vend’s full-stack parking technology transformed the neighborhood portfolio with:

• License plate recognition and phone number capture for each visit

• Flexible pricing models based on hourly, daily, and event-based rates

• Onboarding workflows for tenants and retail employee parking allocations

• Mobile-first valet tools for high-end restaurants and luxury retail

• Real-time data visibility to track garage usage and optimize performance

• Reduced wait times through digital (vs. paper-based) valet operations

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In just the first full quarter, the property generated $302K in parking revenue. At stabilization, that’s projected to grow to $2 million annually, unlocking an additional $9–10 million in long-term portfolio value.

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“We designed Vend to help real estate owners unlock the full value of their parking assets. At this property, that meant transforming under-utilized space into a revenue engine—while also delivering a modern, seamless experience for tenants and visitors alike.”

— Tony Albanese, Head of Revenue @ Vend

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Key Results

• $302K portfolio parking revenue in the first full quarter

• $2M projected stabilized annual transient parking revenue

• $9–10M estimated increase in portfolio value

• Zero out-of-pocket expenses

• Reduced security workload and risk of garage misuse

• Upgraded entry experience

• Seamless rollout delivered on time and on budget

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“The new system has been a game-changer. It’s dramatically reduced the amount of time we spend dealing with parking-related issues, and the Vend team has been incredibly responsive and easy to work with. Best of all, tenants and guests love how simple and intuitive it is.”

— Director of Property Management

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Vend also supports the valet operator servicing the neighborhood’s high-end restaurants, allowing them to manage customer vehicles with precision and speed, all from their smartphones.

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Beyond Revenue: Additional Strategic Wins

Security optimization
By shifting access control to Vend’s platform, the neighborhood’s security teams can now prioritize broader property-wide responsibilities. The system’s digital vehicle logging has helped deter misuse and reduce incidents in garages.

No-cost infrastructure upgrade
Vend replaced and upgraded outdated equipment—including gates, kiosks, and license plate readers—at no cost to the property, ensuring a smooth transition and future-ready foundation.

Actionable data for smarter real estate decisions
From occupancy trends to visitor behavior, Vend’s data insights empower property managers to better understand asset utilization and optimize for tenant and customer demand.

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A Smarter Parking Future

By reimagining its parking operations with Vend, the property has converted a historically passive amenity into a dynamic revenue stream, generating millions in new income and long-term asset value. It’s a model for how mixed-use developments can tap into the hidden potential of their parking footprint and future-proof the experience for everyone who enters.