Jeff Wolfe Purchases Roanoke Parking Action from Central

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Jeff Wolfe Purchases Roanoke Parking Action from Central

Update: Jeff tells me his total is now 60…Not too shabby for a company in business for 37 months.

Jeff Wolfe, former Central Parking VP (until 2002) and founder and owner of Car Park, based in Boise, has purchased the Six facilities and taken over 20 other leases/contracts from Central Parking in Roanoke, VA. Read all about it here.

According to news releases I received from Jeff’s PR firm, this will give the company a total of 87 locations (I think — I am confirming this with them now).  Wow, pretty good for four years. Although the terms weren’t disclosed, the report in the local paper quotes Jeff as not disagreeing with the $2.5 million number that had been set on the properties assessed value.  The relationship between that number and the selling price is not know.

The locations in Roanoke come through Central’s Purchase of Allright and were run under the Allright banner. A number are honor box locations.  The largest is a 325 space garage. Jeff was quoted that although he’s not a developer, he wouldn’t be adverse to working with developers on some of the surface lots.

Here’s what Radiant says about itself:

Radiant Partners, LLC
    was formed in early 2000 and is based in New York, NY. Through its affiliates,
    the company owns and operates commercial real estate throughout the United
    States. Radiant Partners owns a portfolio of more than 3.6 million square
    feet that includes regional shopping malls, class B office buildings and parking
    facilities. Radiant’s current portfolio has a value in excess of $270
    million. Under special circumstances, Radiant will also perform third party
    asset management services.

Seems like a good fit to me — All the best to Jeff and his crew.

JVH

John Van Horn

John Van Horn

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