The incident happened near the intersection of 71st Street and South Upland Avenue in Southwest Philadelphia.
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Police said the driver did not stop at the intersection and struck the 30-foot boat which was parked on a trailer.
The impact of the crash sent the boat, which suffered damage, into the street.
Police said the driver then drove into the backyard of nearby B.U.Z. Academy Child Care Center and struck playground equipment.
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The driver then got out of the truck and remains on the loose.
No injuries were reported.