March 22, 2011 | last updated May 31, 2012 4:43 pm

Bradley deal lands LAZ in airport-parking arena

Editor's Note: A previous version of this story indicated LAZ Parking owns the lots. LAZ has been contracted by the owner to manage them.

Hartford parking vendor LAZ Parking has formally touched down in the airport-parking arena with three lots adjacent to Bradley International Airport it has quietly operated since late last spring.

LAZ is operating the FastTrack lots once owned by bankrupt Parking Corp. of America Airports (PCAA) under a contract for undisclosed terms. The latest owner was unclear Tuesday, since PCAA last May unloaded most of its airport lots to a third party for $141 million.

The three lots located at 24, 35 and 110 Ella Grasso Turnpike in Windsor Locks now operate under the LAZFLY Airport Parking banner.

According to LAZFLY's website, the airport parking vendor since last June 2 "has seamlessly taken over the management operations of FastTrack's'' three Bradley lots.

The website does not identify any other airport parking lots in LAZ's portfolio.

LAZ officials did not immediately return a phone call seeking comment.

LAZ principal partner Jim Marzi said in a statement Tuesday that, in addition to rebranding and renovating the lots, the new owner will be replacing older shuttle buses with new, luxurious shuttles and new employee uniforms.

It also will introduce new services, including a car wash and detailing service, oil changes, and a revamped customer loyalty program.

Founded in 1981 as a downtown Hartford parking valet, LAZ owns or manages more than 425,000 public and private parking spaces in 21 states, with revenues exceeding $500 million annually. It also has a partnership with European operator Vinci Park.

PCAA, owned by Australia's Macquarie Group, last May won federal bankruptcy court approval to sell its 29 airport parking lots with more than 40,000 spaces outside 20 major U.S. airports and other assets to an investor group.

PCAA blamed slumping air travel for the drop in parking revenues that drove it on Jan. 28, 2010 to seek protection from creditors under Chapter 11 of the U.S. bankruptcy code.


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