JACKSON, Miss., Jan. 10 /PRNewswire-FirstCall/ -- Parkway Properties, Inc. announced today leasing activity for the month ended December 31, 2005.
(Logo: http://www.newscom.com/cgi-bin/prnh/20030513/PARKLOGO )
As of January 1, 2006, occupancy of the office portfolio was 88.9% compared to 89.7% as of December 1, 2005. This is consistent with the Company's guidance provided during the most recent earnings announcement. During the month ended December 31, 2005, 26 leases were renewed or expanded for approximately 161,000 square feet. Additionally, 13 new leases were signed totaling 109,000 square feet. Not included in occupancy are 26 leases totaling 196,000 square feet, which have been fully executed as of January 10, 2006 and commence in 2006. These leases bring the portfolio to 90.5% leased as of January 1, 2006 as compared to 91.0% as of December 1, 2005.
Attributing to the decline in occupancy was the expected move out of a portion of Akerman Senterfitt at Citrus Center in Orlando which comprised 46,000 square feet. A replacement lease has been executed for 100% of this space with an expected occupancy early in the second quarter of 2006.
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 66 office properties located in 11 states with an aggregate of approximately 12,224,000 square feet of leasable space as of January 10, 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 on the World Wide Web at http://www.pky.com/.
Total Occupancy
Square Footage Vacancy Percent
Occupancy -
01/01/06 12,224,013 1,356,265 88.90%
Adjusted Commencement
Square
City Building Footage Quarter Year
Atlanta, GA Hightower Centre 873 1 2006
Atlanta, GA Hightower Centre 621 1 2006
Atlanta, GA Peachtree Dunwoody
Pavilion 8,103 1 2006
Charlotte, NC Charlotte
Park 4601 13,009 1 2006
Charlotte, NC Charlotte
Park 4601 1,540 1 2006
Charlotte, NC Carmel Crossing-
Piedmont 8,835 1 2006
Chicago, IL 233 North
Michigan 863 1 2006
Chicago, IL 233 North
Michigan 8,973 3 2006
Chicago, IL 233 North
Michigan 33,514 2 2006
Chicago, IL 233 North
Michigan 150 1 2006
Columbia, SC Tower at 1301
Gervais 6,384 1 2006
Richmond, VA Winchester 5,183 1 2006
Richmond, VA Winchester 4,816 1 2006
Richmond, VA Winchester 1,296 1 2006
Hampton Roads, VA Greenbriar I 1,868 1 2006
Hampton Roads, VA Townpoint Center 1,649 1 2006
Houston, TX Comerica 5,222 1 2006
Houston, TX Comerica 6,112 1 2006
Houston, TX Comerica 6,752 1 2006
Houston, TX Sugar Grove 601 1 2006
Houston, TX Sugar Grove 1,783 1 2006
Jackson, MS One Jackson Place 6,443 1 2006
Jackson, MS One Jackson Place 2,688 1 2006
Knoxville, TN Cedar Ridge 417 1 2006
Memphis, TN Forum II & III 3,468 1 2006
Memphis, TN Forum II & III 15,475 1 2006
Orlando, FL Citrus Center 45,825 2 2006
Orlando, FL Citrus Center 3,325 2 2006
Sum of above 195,788
Adjusted Leasing Status once leases have commenced
Total SF
Total SF Not Leased Leased %
12,224,013 1,160,477 90.51%
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