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JACKSON, Miss., Jan. 13 /PRNewswire-FirstCall/ -- Parkway
Properties, Inc. (NYSE: PKY) today announced the expansion of its
wholly-owned subsidiary, Parkway Realty Services, LLC ("PRS") in
Jacksonville, Florida and the addition of commercial leasing
veteran Victor A. Hughes, III to the Jacksonville team of real
estate professionals led by Lisa L. Smith, Senior Vice President.
Mr. Hughes will be responsible for leasing and business
development as PRS expands its third-party business in the
Jacksonville market.
(Logo: http://www.newscom.com/cgi-bin/prnh/20030513/PARKLOGO)
PRS was founded in 1983 as a real estate service provider to
both third-party clients and the investments of its parent company,
Parkway Properties, Inc. ("Parkway"). With the Jacksonville
office expansion, PRS will now focus on providing its formerly
proprietary leasing and management services to third-party public
and private companies and individual investors that own or invest
in Class-A commercial office space in the Greater Jacksonville
area.
"The combination of Parkway's presence throughout the southeast
office markets, the existing PRS presence in the Jacksonville
market and my established business relationships, will create good
business opportunities for PRS," said Victor Hughes, PRS
Jacksonville Managing Director.
Steven G. Rogers, President and Chief Executive Officer of
Parkway, stated, "Since its inception, PRS has been devoted to
meeting the needs of commercial real estate owners. We are
owners and have represented owners' interests for over 25 years, so
we understand the challenges commercial real estate owners face.
Our experience translates into astute asset management and
increased net operating income across our clients' portfolio of
properties. This is an important continuation of a larger
strategic initiative to expand our third-party services nationally
and is consistent with our transformation to an
operator-owner."
Founded in 1983, PRS is a commercial real estate services and
advisory firm that serves the needs of private and public companies
and individual investors that own or invest in Class-A commercial
office space. PRS offers expert commercial real estate
guidance, professional property management services, and strategic
marketing and leasing services aimed at increasing net operating
income and maximizing profit upon exit. PRS is a wholly-owned
subsidiary of Parkway Properties, Inc. and has offices in major
U.S. markets, including Houston, Atlanta, Chicago, Orlando,
Phoenix, and now Jacksonville. PRS employs over 200
employees. Additional information about PRS is available atwww.prs-realty.com.
Parkway Properties, Inc., a member of the S&P Small Cap 600
Index, is a self-administered real estate investment trust
specializing in the operation, leasing, acquisition, and ownership
of office properties. The Company is geographically focused on the
Southeastern and Southwestern United States and Chicago. Parkway
owns or has an interest in 65 office properties located in 11
states with an aggregate of approximately 13.4 million square feet
of leasable space at January 13, 2010. Included in the
portfolio are 21 properties totaling 3.9 million square feet that
are owned jointly with other investors, representing 28.8% of the
portfolio. Fee-based real estate services are offered through
the Company's wholly-owned subsidiary, Parkway Realty Services,
which also manages and/or leases approximately 1.3 million square
feet for third-party owners at January 13, 2009.
Parkway Properties, Inc.'s press releases and additional
information about the Company are available on the World Wide Web
at www.pky.com.
CONTACT: J. MITCHELL COLLINS
CHIEF FINANCIAL OFFICER
(601) 948-4091
SOURCE Parkway Properties, Inc.
Contact: J. Mitchell Collins, Chief Financial Officer,
+1-601-948-4091 |