Two adjacent paved parking lots totaling 2.2 acres recently sold for $9 million in Newark, with one lot featuring a billboard subject to an annual lease.The purchaser is entering into the billboard’s lease with L.A. Parking Corp., a company that allows drivers to research and reserve parking spaces via Parkopedia.com.



Brad Domenico of Tinton Falls-based commercial mortgage brokerage firm Progress Capital arranged a $6.3 million permanent mortgage representing 75 percent of the property’s purchase price.

