Via Parkway Corporation
Parkway Corporation, a prominent real estate developer and operator, has announced the acquisition of two significant properties: parking lots located in Raleigh, North Carolina, and Orlando, Florida. The company completed these transactions through an affiliate, with facilitation by Foundry Commercial, which managed the marketing process and represented the sellers in both markets.
The deal, finalized on November 4, 2025, marks a strategic expansion for Parkway in two of the fastest-growing urban areas in the Southeast. According to Robert Zuritsky, President and CEO of Parkway Corporation, “We’re excited to acquire properties in the downtowns of two of the fastest growing markets in the Southeast.” He highlighted the economic momentum and population growth in both cities, which make these acquisitions valuable additions to Parkway’s portfolio.
Details of the Acquisitions
In Raleigh, Parkway acquired a 0.68-acre surface lot positioned at the intersection of Wilmington Street and Martin Street. This site is located in the heart of the city’s central business district and is near key landmarks such as Moore Square and the Raleigh Convention Center, which is currently undergoing a significant expansion. The lot’s proximity to various office buildings, restaurants, and entertainment venues enhances its desirability for future development.
The acquisition in Orlando consists of a 2.13-acre surface lot located at South Rosalind Avenue and Pine Street. This property is just one block from the iconic Lake Eola and adjacent to the Orange County Administration Building and Capital Plaza. Its central location near the Dr. Phillips Center for the Performing Arts and numerous dining and entertainment options positions it as a prime asset for urban development.
Sarah Godwin, a partner at Foundry Commercial, noted that the dual acquisition offered significant efficiencies for the seller, stemming from Parkway’s expertise in both parking operations and real estate development. “Their dual expertise as a leading parking operator and a real estate developer with longer time horizons uniquely positioned them to execute this transaction,” she stated.
Strategic Investment and Future Plans
Since 2021, Parkway has expanded its portfolio to include 19 parking lots across the United States. This latest acquisition supports the company’s strategy to invest in urban parking facilities that exhibit strong fundamentals and growth potential. David Dobkin, Managing Director and Head of Acquisitions, emphasized the significance of these acquisitions, stating, “This transaction builds upon the successful acquisition strategy established by our Parkway U.S. Land Carry Fund I.”
The partnership between Parkway and Foundry Commercial exemplifies a successful collaboration that combines brokerage, capital markets expertise, and regional market knowledge. “In today’s challenging market environment, our strong balance sheet, operational expertise, and reputation for certainty of execution continue to position Parkway as a preferred buyer for institutional sellers seeking reliable transaction partners,” added Zuritsky.
As Parkway Corporation continues to navigate the evolving real estate landscape, these strategic acquisitions highlight its commitment to enhancing its portfolio in high-growth markets. For further information about Parkway Corporation, visit their website at www.parkwaycorp.com, or connect via social media platforms.
For inquiries, contact:
Sara McGovern, Slice Communications
Email: [email protected]
Phone: 610-914-5977
Sarah Godwin, Foundry Commercial
Email: [email protected]
Phone: 919-309-5819
