by SILObreaker | Nov 19, 2012

July 09, 2012

Parallel Capital Partners, Inc. has announced that Ampco System Parking, Inc. has signed a new lease for 4,512 square feet of office space at 4000 N. Central Avenue in the City Square Office Towers in downtown Phoenix, Arizona, 85012. The lease term is for 66 months.

The City Square Office Towers comprise three office buildings at 3800, 3838 and 4000 N. Central Avenue. The Towers range in height from 17 to 23 stories and offer a total of 737,403 leasable square feet. They are part of Phoenix City Square, the largest mixed-use commercial development in Arizona, which includes a 156-room Hilton Garden Inn, a 35,000-square-foot Sports Club and 2,230 parking spaces, all situated on 16 acres in mid-town Phoenix.

Ampco System Parking was represented in the negotiations by Mike Quinn of Fritsche Anderson Realty Partners. Parallel Capital Partners, Inc. was represented by John Bonnell and Brett Abramson of Jones Lang LaSalle.

Ampco System Parking manages parking operations throughout the U.S. and Canada. The company is a subsidiary of ABM Industries, one of the largest facility management services providers in North America.

Parallel Capital Partners, Inc. ( is a real estate investment and operating firm that focuses on office, industrial and retail property acquisition in markets in the western U.S. and Hawaii. The company identifies opportunities where assets are undervalued and uses restructuring, capital improvements and superior leasing and management to turn value-added opportunities into core properties.