Parkway Corporation Expands National Footprint with Strategic Atlanta Acquisition

Parkway Corporation has announced the acquisition of a surface parking lot in Atlanta, Georgia, marking a strategic move into a key urban market. The transaction, completed on September 3, 2026, involved the purchase of a 50,526-square-foot property with 113 parking spaces, although the deal value remains undisclosed. This acquisition is part of Parkway's broader strategy to expand its footprint in high-growth urban areas, particularly those with strong demand for parking and development potential.

The newly acquired parking lot is situated in Downtown Atlanta's Centennial Park District, an area known for its proximity to major attractions including the Mercedes-Benz Stadium, State Farm Arena, the Georgia World Congress Center, and the Georgia Aquarium. Collectively, these venues attract over 12 million visitors annually, creating a robust demand for parking services. The property is also adjacent to the Centennial Yards project, a $5 billion mixed-use development that is expected to further enhance the area's attractiveness and economic vitality.

Parkway Corporation's investment team, led by Dave Dobkin and Dan Dean, executed the off-market transaction, highlighting the company's commitment to identifying and capitalizing on prime real estate opportunities. The acquisition aligns with Parkway's investment philosophy, which focuses on properties that not only generate strong current cash flow but also present potential for vertical development in the future. Rob Zuritsky, President and CEO of Parkway, emphasized the strategic importance of the location, suggesting that it is one of the best-positioned urban sites in the Southeast.

In addition to the acquisition, Parkway has engaged The Car Park, led by Erik Ward and Jeff Wolfe, as its parking operations partner for the newly acquired property. This collaboration is expected to enhance the operational efficiency and customer experience at the site, further solidifying Parkway's reputation as a leader in the parking management sector.

The acquisition of the Atlanta parking lot reflects broader trends in the real estate market, particularly in urban centers where demand for parking is driven by tourism and large-scale developments. As cities continue to evolve and attract more visitors, the need for well-located parking facilities is likely to grow. Parkway's expansion into Atlanta not only diversifies its portfolio, which now spans 11 states, but also positions the company to benefit from the ongoing transformation of urban landscapes across the United States. The strategic focus on high-demand areas underscores the potential for future growth and profitability in the real estate and parking sectors.