PHILADELPHIA, Dec. 16, 2024 -- Parkway Corporation, a real estate developer, investor, and operator, is pleased to announce the acquisition of a surface parking lot in Denver, Colorado. A Parkway affiliate, Parkway U.S. Land Carry Fund I, LP ("the Fund"), completed the acquisition.
"We're excited to continue our national expansion with our first acquisition in Denver and the Mountain West region," stated Rob Zuritsky, President and CEO of Parkway Corporation. "Amid ongoing uncertainty around development feasibility and challenges developers face, the Fund continues to complete transactions, reinforcing our platform's reputation as a reliable buyer and premier capital solution for urban infill parking lot owners seeking liquidity."
This new location is in the Golden Triangle neighborhood adjacent to Civic Center Park in Downtown Denver. It is in close proximity to the Denver Municipal Building, Denver Public Library, Denver Art Museum, Clyfford Still Museum, Denver Police headquarters, and the History Colorado Center.
This transaction increases the Fund's holdings to 14 locations as part of its national strategy and adds to a portfolio of assets that also includes properties in Richmond, New Orleans, Tampa, Philadelphia, Tulsa, Chattanooga, Fort Worth, Kansas City, and Charlotte.
Parkway U.S. Land Carry Fund I, LP was established to make acquisitions in primary, secondary, and tertiary markets with mature or emerging paid‐parking characteristics, multiple parking demand generators, and demonstrable economic momentum and business growth. This platform focuses on acquiring surface parking lot facilities with current operating cash flows where a higher or better use may be achievable over a longer time horizon. The Fund partners with local real estate brokers and parking industry experts to identify high-quality locations for acquisition.
About Parkway Corporation
Parkway is a full-service real estate developer, investor, and operator with deep expertise in property and parking management. Founded and headquartered in Philadelphia, Parkway Corporation has been an industry leader for over 100 years in combining operational excellence and innovative technology to deliver exceptional products and customer experiences. For more information about the company, visit www.parkwaycorp.com or connect with us on Facebook, Linkedin, and Instagram.
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