Parkway Corporation Announces First Acquisition in Tulsa, Oklahoma

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Jan 04, 2023, 12:12 ET

TULSA, Okla., Jan. 4, 2023 /PRNewswire/ -- Parkway Corporation, a Philadelphia-based real estate developer, investor, and best-in-class parking operator, is pleased to announce the acquisition of an entire block in downtown Tulsa. The acquisition was completed by a Parkway affiliate, Parkway U.S. Land Carry Fund I, LP.

Located in the vibrant Tulsa Arts District, the 90,000-square-foot surface lot includes 306 parking spaces and is in close proximity to the Tulsa Theater, Cain's Ballroom, the BOK Center, Guthrie Green, and numerous bars, restaurants, museums, apartments, and office buildings.

"Having studied markets across the country, we're thrilled to make our first acquisition in Tulsa," said Robert Zuritsky, President and CEO of Parkway Corporation. "The city and region have seen significant economic investment and talent recruitment over the past several years. Increased opportunities for remote work have attracted thousands to the high quality of life and affordable cost of living Tulsa offers. Everyone at Parkway is looking forward to making our mark on the city and contributing to the continued revitalization of downtown Tulsa."

Parkway U.S. Land Carry Fund I, LP was established to make acquisitions in primary, secondary, and tertiary markets that have mature or emerging paid‐parking characteristics, a multiplicity of parking demand generators, and demonstrable economic momentum and business growth. This platform is focused on acquiring surface parking lot facilities that have current operating cash flows where a higher or better use may be achievable over a longer time horizon.

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 nearly 100 years in combining operational excellence and innovative technology to deliver exceptional products and customer experiences. More information about the company is available at www.parkwaycorp.com or connect with us on Facebook, Twitter, and Instagram.

Contact:
Sara McGovern, Slice Communications
[email protected]
610-914-5977

SOURCE Parkway Corporation