Parkway Properties Renews 26,000-SF ClubCorp Lease at Citrus Center, Orlando, FL

 ORLANDO, FLORIDA – October 1, 2009 – Parkway Properties, Inc. (NYSE:PKY) recently renewed  the 26,000 square foot ClubCorp lease in the Citrus Center Building (top right photo)  in downtown Orlando, Florida.

The lease renews the 2,000 member Citrus Club’s top-floor dining and meeting facility, along with first floor offices and lower-level fitness center and spa through 2024. Citrus Center is a 261,000 square foot Class-A, 18-story office building that is currently 91% occupied.

“The Citrus Club has been a long-standing icon in Downtown Orlando for nearly four decades," said Lisa L. Smith, (middle left photo) Senior Vice President of Parkway Properties.

 "It is the venue for business transactions, celebrations of joyous occasions and social/networking opportunities. Parkway is proud to have been a part of its past and is looking forward to partnering with them in the future."

 “I am pleased that we were able to reach agreement with ClubCorp for the renewal of the Citrus Club," added Steven G. Rogers, (bottom right photo)  President and Chief Executive Officer of Parkway Properties.

"We have a long-standing relationship with them in Orlando, as well as other locations throughout Parkway’s portfolio. ClubCorp brings a tremendous amount of professionalism to the private clubs industry and provides a great amenity for our customers in the building and all of Downtown Orlando,”

Parkway was represented by Greg Morrison of Morrison Commercial Real Estate and ClubCorp was represented by Nan McCormick and Mike Phipps of CB Richard Ellis in the lease renewal.

Contacts:
Greg Morrison, CCIM, SIOR, Principal, Morrison Commercial Real Estate, 255 S. Orange Avenue, Suite 1545, Orlando, Florida 32801, 407.219.3500, 407.219.3501 fax, 407.257.8320 mobile
gmorrison@morrisoncre.com, http://www.morrisoncre.com/

Lisa L. Smith, Senior Vice President, Parkway Properties, (407) 843-6215