Parkway Corporation Expands Portfolio with New Acquisitions in Raleigh and Orlando

Parkway Corporation, a prominent player in real estate development and management, has recently expanded its portfolio with significant acquisitions in two of the Southeast's booming markets: Raleigh, North Carolina, and Orlando, Florida. This strategic move underscores Parkway's ongoing commitment to invest in urban properties that promise strong growth potential.

Recent Acquisitions

On November 4, 2025, Parkway announced that it has secured parking lots in both downtown areas, thanks to a successful collaboration with Foundry Commercial, which managed the marketing and facilitated each sale. Parkway's President and CEO, Robert Zuritsky, expressed enthusiasm about the acquisitions, highlighting Raleigh and Orlando as key locations for future expansion.

Both cities have been experiencing substantial economic growth and increasing populations, making them attractive sites for real estate investment. According to Zuritsky, these acquisitions will enhance Parkway’s existing portfolio and provide advantageous positions in rapidly developing urban centers.

Raleigh, NC

In Raleigh, Parkway has acquired a .68-acre surface lot strategically located at the intersection of Wilmington Street and Martin Street. This prime property sits in the heart of Raleigh's central business district, in close proximity to several key landmarks, including Moore Square, Marbles Kids Museum, and the Raleigh Convention Center, which is undergoing significant expansions intended to elevate its capacity and offerings.

The acquisition was made possible through effective marketing strategies executed by Foundry Commercial's land advisory team. Their efforts attracted various investors, generating significant interest due to the potential for mixed-use development—and ultimately leading to Parkway's successful bid. This positioning accentuates Parkway’s ongoing mission to tap into high-potential urban markets ahead of further city growth.

Orlando, FL

In Orlando, Parkway has acquired a larger, 2.13-acre surface lot situated conveniently at the crossroads of South Rosalind Avenue and Pine Street. Its prime location, just a block away from the renowned Lake Eola, places it near critical civic and cultural landmarks, including the Orange County Administration Building and the Dr. Phillips Center for the Performing Arts. With Orlando's reputation as a travel hub and growing economic opportunities, this property stands to gain significant value.

Foundry’s team, led by seasoned professionals, coordinated closely with Parkway to ensure a smooth transition and closing process, leveraging their local market insights to secure the deal efficiently.

Strategic Significance of the Acquisitions

These latest additions reflect Parkway's ongoing strategy to invest in promising locations characterized by economic vitality and demographic growth. By capitalizing on existing parking facilities that generate immediate cash flow, Parkway is also positioned to explore opportunities for future developments that could yield higher value uses over time.

David Dobkin, Parkway’s Managing Director and Head of Acquisitions, emphasized that this marks the company’s 19th acquisition of parking lots across the country since 2021. This consistent growth trajectory reinforces their acquisition strategy tailored for high-quality urban assets, driven by robust market fundamentals.

Sarah Godwin from Foundry Commercial summarized the synergy created through their partnership, showcasing how the blend of brokerage and capital market expertise has successfully facilitated these transactions. This collaboration highlights ongoing trends within commercial real estate, particularly emphasizing the importance of integrated approaches in achieving optimal results for institutional clients.

About Parkway Corporation

Parkway is a full-service entity specializing in real estate development, investment, and property management, with a rich history spanning over a century. The company combines operational excellence with innovative solutions, aiming to deliver superior customer experiences and products. Their investments in various markets highlight their strategy of focusing on paid-parking facilities and demanding urban demand generators.

For more information about Parkway's initiatives and ongoing projects, visit www.parkwaycorp.com.

About Foundry Commercial

Operating across various sectors, Foundry Commercial provides comprehensive commercial real estate services and investment expertise. Focused on the Sun Belt markets and supported by a substantial workforce, Foundry continues to be a leader in the industry, successfully executing numerous transactions annually. More information can be found at www.foundrycommercial.com.