A Good Deal for Everyone

Beginning May 1, 2009, Best Park assumed all AMPCO System Parking locations in the Little Rock market after completion of a successful buyout agreement.

AMPCO System Parking, based in Los Angeles, California and one of the world’s largest parking companies, decided to concentrate on larger and more profitable markets and that left the Little Rock operation open for discussion. Best Park and AMPCO were able to reach an agreement that ultimately benefits both companies.

From our standpoint, their locations fit nicely into our daily business and Supervisory routines. And since we are based right here in Little Rock, we were certain that client and customer attention would only increase. We had been aggressively marketing their locations for the last few years and had made a significant negative impact on their local presence.

From their standpoint, AMPCO is a giant company with interests in countless cities, many of them large urban settings. By the time a decision about a Little Rock deal finally reached Los Angeles, it may have been in competition with another deal decision in New York, San Francisco, or Chicago, one in which the gross revenues and the risk engaged in one single month would dwarf the amount generated over five years in their entire Little Rock operation. I know, I’ve been on that side of the “glass” with Allright and Central.

With everyone feeling the pinch from the stagnant economy, the deal made sense for both companies. It helps them to focus more on their high value markets and it helps us to solidify our local interests.

So far so good. The landlords, clients, customers and employees have all been exemplary and for the most part, the transition has been nearly seamless.