The asset involved in this transaction is a parking lot located at 306-20 North Broad Street, Philadelphia, PA. The property has a sale price of $21,300,000 and encompasses an area of 261,700 square feet, with a price per square foot of $81.

Summary of transaction details:

• Property Type: Parking Lot
• Transaction Amount: $21,300,000
• Buyer: The Philadelphia Parking Authority
• Seller: Iron Stone Real Estate
• Square Footage: 261,700
• Price per Square Foot: $81

The Philadelphia Parking Authority is expanding its portfolio with the acquisition of this garage, which adds over 820 parking spots. This purchase marks the agency's first property on North Broad Street and they plan to continue its operation as off-street parking.