Parkway Corporation announced the acquisition of a 28-space parking lot at 37 North Second Street. A Parkway affiliate, Parkway U.S. Land Carry Fund I, completed the acquisition.
The surface lot is in the heart of Old City, steps from Christ Church, the Arden Theater and other points of interest in one of the most historic neighborhoods in the country. It is located near Interstate 95, the Vine Street Expressway and the Ben Franklin Bridge. The acquisition is the fund’s sixth purchase as part of its national strategy.
“We're thrilled to acquire this high-quality asset in our hometown, especially one of the few parking sites left in Old City,” said Robert Zuritsky, president and CEO at Parkway Corporation. “We recognized the potential in the existing operation, and we are already bringing the parking facility up to Parkway's high brand standards for technology and customer experience.”
Parkway U.S. Land Carry Fund I was established to make acquisitions
