Mobile Infrastructure Corporation (BEEP)

Overview

Mobile Infrastructure Corporation, previously recognized as Fifth Wall Acquisition Corp. III or FWAC, operates as a Maryland corporation specialized in the acquisition, ownership, and leasing of parking facilities and related infrastructure across the United States. The company's strategic focus includes a broad spectrum of parking assets such as parking lots, parking garages, and other related parking structures. Primarily targeting the top 50 U.S. Metropolitan Statistical Areas, Mobile Infrastructure Corporation seeks properties that are strategically located near key demand drivers which include areas of commerce, significant event venues, government and institutional buildings, and centrally located districts close to hospitality and multifamily residences. As of March 31, 2024, the company has a robust portfolio, owning 42 parking facilities across 21 different markets in the United States, encompassing around 15,400 parking spaces and approximately 5.2 million square feet in total. In addition, it manages about 0.2 million square feet of retail and commercial space, which is situated adjacent to its parking structures, thereby enhancing its integrated infrastructure offerings.

Products and Services

• Parking Facilities

Mobile Infrastructure Corporation owns and leases a wide variety of parking spaces, including but not limited to parking lots, parking garages, and other specialized parking structures. The focus is on providing conveniently located and efficient parking solutions to accommodate the needs of individuals and businesses, particularly in densely populated urban areas. This includes both surface lots and multi-story parking garages, offering a range of parking options to suit different preferences and location specifics.

• Retail and Commercial Spaces

Adjacent to its primary offering of parking facilities, the company diversifies its portfolio by owning and leasing retail and commercial spaces. These spaces are strategically located to complement the parking services, providing additional value to both the company's assets and its customer base. This integration of services aims to enhance the overall consumer experience by offering a mix of utility and convenience, thereby attracting a wider audience to the company’s locations.