Case Study: Ballston Exchange reduces parking costs and boosts NOI with Vend Park

Ballston Exchange - Customer Case Study

Ballston Exchange, a Class A office property owned by Jamestown, faced the challenge of modernizing its outdated parking facility. The existing equipment was costly to service and required replacement, while the owner also sought to reduce operational expenses from a staffing-heavy model and avoid a large capital investment. The site's limited cellular service further complicated finding a suitable solution. To address this, they turned to their vendor, Vend Park, for its AI-powered parking management and payments platform.

Vend implemented a comprehensive solution featuring Smart Kiosks and gated License Plate Recognition (LPR) technology, which included custom features for visitor access and automated enforcement. This allowed Vend Park to assume full operational management. The results were significant, reducing operational costs by 30% and increasing net operating income (NOI) by 29%. Vend's solution also saved the customer an estimated $300,000 in capital expenditures by avoiding new equipment purchases while automating and streamlining parking operations.

Ballston Exchange