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ABM takes over parking at Marina City 12-Jan-13 – Picking up where Central Parking System was forced to leave off, ABM Parking Services has taken over management of Marina City’s two 18-story, 450-car spiral parking ramps. A local manager says ABM took over on November 1, 2012, and had to bid on the contract with LaSalle Hotel Properties, owner of Marina City’s commercial property. Central had managed the ramps at Marina City since January 15, 2011. Before Central Parking System can merge with Standard Parking Corporation, it has to shed 107 parking ramps, including two in River North. The U.S. Department of Justice, concerned the new company could be a monopoly, filed a lawsuit to block the acquisition but proposed the divestiture to resolve its concern. The merger deal is estimated to be worth about $345 million. Collectively, the ramps Standard and Central both have to sell – or otherwise terminate contracts with – account for about $85 million in annual revenue.
Formerly Ampco System Parking, ABM Parking Services manages more than 1,800 parking operations in the U.S. and Canada. It is a subsidiary of ABM Industries, a publicly traded company that provides a variety of services to commercial and government clients, including cleaning, security, and parking. Its fiscal year ended in October with revenue of $4.3 billion, up 1.3 percent from 2011. Chas Strong, manager of corporate communications for ABM, did not return messages seeking more information, nor did Central’s general manager for Chicago.
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