Business & Tech

Parking Fastest Growing Segment Of Comstock's Portfolio: Report

Comstock Holdings' fastest growing revenue stream is in parking, according to news reports.

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Comstock subsidiary ParkX Management manges 30 garages in the D.C. area, 13 of which are owned by unaffiliated parties, according to Comstock's annual report.
Comstock subsidiary ParkX Management manges 30 garages in the D.C. area, 13 of which are owned by unaffiliated parties, according to Comstock's annual report. (Michael O'Connell/Patch)

RESTON, VA — Although Comstock Holding Companies has a large real estate presence around Reston Station and Loudoun Station, it's fasted growing revenue segment is parking, according to news reports.

The developer's subsidiary ParkX Management grew its revenue to $4.8 million in 2023, which is a 50 percent increase of 2022, according to the Washington Business Journal. Comstock's annual report also shows that 2022 parking revenue grew by 100 percent over the previous year.

Dylan Clemente, ParkX president, said that the company had “adequately addressed a growing demand for complementary property management needs through our best-in-class management of commercial parking garages and public spaces," according to WBJ's report. He added that ParkX was the only operator in the D.C. region that offers parking management and security services.

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