Philadelphia has closed on the sale of the parking garage at
Love Park for $29.6 million.
InterPark of Chicago bought the garage that sits under JFK
Plaza at 15th and Arch streets. It has 810 spaces. Management of the facility
will be handled by LAZ Parking, which will replace all the existing personnel
represented by the Teamsters, said the Philadelphia Parking Authority in a
statement.
The garage was constructed by the city in 1964. In 2008,
Philadelphia Parking Authority began to manage it.
Jones Lang LaSalle arranged the transaction.
Source: Philadelphia
Business Journal
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