Parkway Properties, Inc. Announces Sale of St. Petersburg Property
JACKSON, MS USA 09/06/2005
JACKSON, Miss., Aug. 8 -- Parkway Properties,
Inc. (NYSE: PKY) today announced the closing of the previously announced
fee simple sale of the Central Station Building, a 133,000 square-foot
office building in St. Petersburg, Florida for $15 million. Parkway
received net cash proceeds from the sale of approximately $14.5 million and
will recognize a gain on the sale of approximately $200,000 in the third
quarter. Proceeds from the sale were used to repay amounts outstanding
under the Company's lines of credit.
(Logo: http://www.newscom.com/cgi-bin/prnh/20030513/PARKLOGO)
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, acquisition, ownership, management, and leasing of office
properties. The Company is geographically focused on the Southeastern and
Southwestern United States and Chicago. Parkway owns or has an interest in
67 office properties located in 11 states with an aggregate of
approximately 12,804,000 square feet of leasable space as of August 8,
2006. The Company also offers fee-based real estate services through its
wholly owned subsidiary, Parkway Realty Services, to its owned properties
and to its third party and minority interest properties.
Parkway Properties, Inc.'s press releases and additional information
about the Company are available at http://www.pky.com.
CONTACT: STEVEN G. ROGERS
PRESIDENT & CHIEF EXECUTIVE OFFICER
WILLIAM R. FLATT
CHIEF FINANCIAL OFFICER
(601) 948-4091
