Parkway Announces Pending Purchase of Tampa-Westshore Office Building and Other Investment Activity

  

Westshore Corporate Center, Tampa, FL

 ORLANDO, FL /PRNewswire/ -- Parkway Properties, Inc. (NYSE: PKY) announced  it is under contract to purchase Westshore Corporate Center in Tampa, Florida for a net purchase price of $22.5 million. 

Parkway also announced that it has completed the purchase of a parking garage, a 21,000 square foot office building and a vacant parcel of developable land all adjacent to Parkway's currently owned Hayden Ferry Lakeside I and II assets in Tempe, Arizona for $18.2 million on behalf of Parkway Properties Office Fund II, L.P. ("Fund II") and has completed the sale of 111 Capital Building in Jackson, Mississippi for $8.3 million.

James R. Heistand

James R. Heistand, Parkway's President and Chief Executive Officer, stated, "These two off-market acquisitions support our investment strategy of gaining critical mass in key, target submarkets that we believe will outperform their respective overall markets.”

For a complete copy of the company’s news release, please contact:

Thomas E. Blalock

Vice President of Investor Relations

(407) 650-0593