BREAKING DOWN THE TRUCK PARKING MARKET WITH TRUCK PARKING CLUB

What is the current state of play in the truck parking market as we start 2025? How have rates moved in the past year?

We're seeing strong demand across most major markets, particularly in urban areas where traditional truck stops are increasingly limited. Rates have remained relatively stable in 2024, averaging $15-50 for daily parking and $150-500 for monthly parking, depending on the market and amenities. We continue to see strong interest from property owners looking to earn additional income leveraging extra space on their properties. We are up to 1,200 locations and add 5-6 every day.

What are the occupancy trends from the start of the year until now?

Major markets like Newark, Atlanta, Los Angeles, Houston, and Dallas consistently show high occupancy rates.

Which markets have been the strongest / weakest and why?

Strongest markets continue to be major freight hubs - Los Angeles, Chicago, Atlanta, Houston, Dallas, and New York/New Jersey areas. These markets see consistent 85%+ occupancy due to limited parking availability and high freight volume. Secondary markets like Memphis, Indianapolis, and Columbus are showing increasing strength as carriers expand their networks. The challenge in most markets isn't demand - it's finding enough quality parking locations to meet that demand.

How has the freight market slump affected demand for truck parking over the past year?

Interestingly, we've seen parking demand remain strong, we grow every month. We expect this to continue as we gain market share, regardless of overall market conditions.

Tell us about the growth plans for Truck Parking Club!

We're focused on sustainable growth, adding 5-6 new locations daily across the country. Having recently passed 1,000 locations, we're targeting 10,000 locations within 24 months. Our growth is driven by both traditional truck parking facilities, where we help boost their revenue and offer a suite of products to make their yard more efficient, and creative partnerships with property owners who have underutilized space - from carrier yards to industrial properties.

What are the big operational hurdles you are facing as you look to expand and upgrade yards?

Our main hurdle with regard to expanding is maintaining an efficient property onboarding process. As we've scaled the team, we've implemented many processes that ensure high quality properties go live and properties that do not meet our standards don't. Trucker Member experience is paramount and they need to know what they see on a Truck Parking Club listing is what they get.

What are the current driver expectations of parking amenities in today's market?

We see a wide range of expectations dependent on the purpose of the parking. If a driver or fleet is using our locations for high value loads, they may have a need for security, gate, fence, cameras, etc. If a driver just needs a place to sleep for the night or do their reset, but they've already fueled and eaten, a simple lot may fit their needs. We provide a driver everything they need to know to make an informed decision about the location.

What is your tenant mix between larger carriers and independent operators?

We serve the full spectrum of the industry, from owner ops to company drivers at fleets of all sizes. Sixty of the top 100 fleets have booked with Truck Parking Club.

Any new yards on your platform that you would like to share with our readers?

We recently added Matador in Dallas which came from an introduction by Matt Hunsucker at an IOS event. They had a large unused yard that we are able to monetize for them before they decide on the future of the property. We’re excited to have them as a Property Member, many thanks for the introduction! We believe there are a lot of IOS investors with extra idle space that we can help monetize without leases or commitments.

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