Confronting the decades-old issue of inadequate truck parking, a Florida firm is seeking to boost parking capacity by purchasing or leasing locations across large swaths of the U.S.
“From stocking our restaurants to bringing the products we need to stores across the nation, trucking is at the heartbeat of our commerce,” Evan Shelley, owner of Orlando-based Dynamic Group Investments, told FreightWaves. “Parking is in limited supply throughout the U.S., and the demand for it continues to grow, which leads me to believe that it’s a good investment.”
Dynamic Group Investments is seeking real estate currently being used for truck parking or that could be developed for that purpose. The firm is open to locations throughout the U.S., with an emphasis on the South, Midwest and Southeast.
“We would consider almost any size piece of the land,” Shelley said. “Typically, these things are going to range maybe 3 to 5 acres, all the way up to 40 acres. We would consider all those sizes.”
Trucking stakeholders have made a concerted push in recent months for creating more parking nationwide.
In February, the American Trucking Associations and the Owner-Operator Independent Drivers Association sent a letter to U.S. Secretary of Transportation Pete Buttigieg urging federal funds be prioritized to address the shortage.
“The truck parking shortage has plagued the trucking industry for decades, and the consequences of insufficient capacity are as wide-ranging as they are severe,” the letter states.
Chris Spear, CEO of ATA, said surveys show a severe lack of truck parking ranks among truck drivers’ top concerns.
“More than 98% of drivers report problems finding safe parking, burning more than 56 minutes of available drive-time every day to find it,” Spears stated. “That wasted time amounts to a $5,500 loss in annual compensation — or a 12% pay cut.”
Watch: FreightWaves NOW discusses how to alleviate truck parking issues across the country.
More articles by Noi Mahoney