This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Parkway Announces Several Notable Leases

ORLANDO, Fla., June 28, 2012 /PRNewswire/ -- Parkway Properties, Inc. (NYSE: PKY) announced today that it has signed a total of 33,000 square feet of new and expansion leases at Peachtree Dunwoody Pavilion in Atlanta, GA, backfilling approximately 37% of the previously announced space that will be vacated by Cox Communications on June 30, 2012.  This leasing activity consists of a 23,000 square foot new lease signed with CBS Broadcasting Inc. that expires January 31, 2023, and a 10,000 square foot expansion by a major national health insurance carrier that expires April 30, 2016, which is coterminous with its existing lease at the property. 

(Logo: )

Parkway also signed a 13,000 square foot new lease at Hearst Tower, Parkway's most recent acquisition located in Uptown Charlotte, with Dixon Hughes Goodman LLP that commences July 1, 2012, and extends through June 30, 2017.  Additionally, the Company signed a five-year new lease for 35,000 square feet with AT&T Services, Inc. at 111 Capitol Building in Jackson, MS, and an 85,000 square foot renewal at Bank of America Plaza in Nashville, TN with Louisiana-Pacific Corporation, representing a 79-month extension beyond its existing expiration. 

"We continue to make meaningful progress towards our goal of improving portfolio occupancy," stated Jayson Lipsey, Chief Operating Officer of Parkway Properties.  "We have anticipated the loss of Cox Communications at Peachtree Dunwoody Pavilion, and the leasing efforts of our Atlanta team have mitigated the impact of that vacancy by backfilling 37% of the space before its expiration.  We are also encouraged to see strong interest in our recently acquired Hearst Tower, which is now over 95% leased.  Our leasing velocity remains steady in our markets, which should help us gain traction in occupancy over the next several quarters given our minimal near-term lease expirations."

About Parkway Properties

Parkway Properties, Inc., a member of the S&P Small Cap 600 Index, is a self-administered real estate investment trust specializing in the ownership of quality office properties in higher growth submarkets in the Sunbelt region of the United States.  Parkway owns or has an interest in 42 office properties located in 10 states with an aggregate of approximately 10.7 million square feet of leasable space at June 6, 2012.  Fee-based real estate services are offered through wholly-owned subsidiaries of the Company, which in total manage and/or lease approximately 12.2 million square feet for third-party owners at June 6, 2012.

Parkway Properties, Inc.'s press releases and additional information about the Company are available on the Company's website at   

Contact: Thomas E. BlalockVice President of Investor Relations(407) 650-0593   

SOURCE Parkway Properties, Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,812.19 +19.51 0.11%
S&P 500 2,089.14 +2.55 0.12%
NASDAQ 5,102.8080 +0.33 0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs