For those that watch Colorado commercial real estate closely, there is a part of our network being seriously affected by COVID-19: Colorado parking lots. Shopping malls and other commercial parking lots are sitting empty right now. Parking is something we take for granted, giving us access to rail stations, shopping, and offices. It’s hardly glamorous, but the parking industry is a huge representation of how businesses work in our society today. Here are some ideas on how to reimagine your Colorado commercial parking lot to generate income for your business in 2020 and 2021:

Food Trucks

If you can't get rid of a parking lot altogether, you can at least make better use of it by converting a portion of the space into a food truck area. Whether it's just a couple of spaces reserved for one truck, several spaces open to multiple trucks, or even umbrellas, chairs, and tables for people to sit at while they eat their food, this is a win-win situation. If you own the parking lot, you can rent these spaces out to make a little extra cash, and you'll be contributing to a more active street life, as well as potentially drawing in more customers who may be attracted to the food truck options. Food truck operators get a safe place to park and guaranteed foot traffic from the surrounding businesses.

Movie Events

Drive-in movie theaters are hard to come by, but where they do exist, they are extremely popular. They have a novelty to them that other theaters do not. It’s not every day that people can drive somewhere and watch a full-length movie at the theater without leaving the car. While drive-ins are certainly seasonal in nature, if your parking lot is situated in a colder climate, it is probably worth weighing the costs. However, this kind of theater is relatively inexpensive to develop because attendees can get their sound through the radios in their cars. So, if you’ve got a big screen, some decent weather, and your parking lot – you could be in business before you know it!

Art Events

Another great way to use your parking lot is to set up an artisan market. While some marketing may be necessary, sending out a call for local artisans and artists to participate is a good first step. This kind of event could provide the opportunity to consider public uses for space while temporarily utilizing the space. Moveable street furniture can create places for people to gather and the food trucks mentioned earlier provide a reason for people to stay and linger and look at the art.  If you are truly unsure what to do with your space, inviting some creative individuals to size it up and develop unique ideas is a great option. These types of art events have already occurred successfully in Boulder parking lots.

COVID-19 Testing Centers

The need for temporary COVID-19 testing centers is growing in Colorado. Allowing their parking lots to be used as a mobile or drive-thru COVID testing center is something that commercial real estate giants like Walmart are already doing as a community service. One of the main issues for outdoor COVID-19 testing is the space needed for long lines of parked cars as people need to stay in their vehicles in order to maintain safety and distance. If you still intend to have your parking lot be in use while testing is done, clear signage and divisions will need to be used so it is clear where the testing site traffic is to go. Ultimately, you will need to review your lease with your lawyer to see if you can create an income stream from your unused parking lot in this manner. However, if the opportunity is there, the possibilities are endless.

COVID-19 has brought challenges and opportunities to the Colorado commercial real estate world. As with any business industry, those that think creatively about their property and can be flexible right now will prosper. If you are looking at converting your parking lot into a contact-free space for arts, culture, or event COVID-19 testing, you will need to work with an experienced  Denver commercial real estate attorney to review zoning issues, leasing contracts, and insurance issues. Call attorney Rob Fischer today to discuss your commercial real estate ideas at (720) 230-5907.