City Center Parking, Portland's largest and oldest parking lot operation, was acquired by Imperial Parking of Vancouver, B.C.
Impark saw the move as a chance to establish itself in a new market and expand its western footprint. Brothers Greg and Mark Goodman say it's an opportunity to focus on the family's Downtown Development Group portfolio, which includes 28 parking lots they retained in the transaction.
The brothers plan to stay involved in the parking company itself, sharing office space with the buyer and helping guide operations. The City Center brand will remain the same.
Read more at OregonLive.com.