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Parking Firm Pays $95K an Acre for South Philly Parcel

PHILADELPHIA-Maritrans, the sea-going transportation company, sells 21 acres of vacant land on Essington Avenue for more than $2 million. The parcel is near the Auto Mall and Philadelphia International Airport.

By Marita Thomas | Updated on October 16, 2003

PHILADELPHIA-An unnamed private parking company paid in excess of $2 million, or more than $95,240 an acre, for a 21-acre vacant parcel at 6700 Essington Ave. in the southwest section of the city. The seller is Tampa, FL-based Maritrans, a company that builds and operates vessels for US trade.

The property has 1,000 ft of frontage on Essington, just west of Passyunk Avenue and is adjacent the Philadelphia Auto Mall, where multiple local car dealers trade. It is also in close proximity to the airport.

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