JACKSON, Miss., March 26 /PRNewswire-FirstCall/ -- Parkway Properties, Inc. announced today the recent signing of third-party leasing contracts on 12 additional properties and the receipt of the Office Building of the Year ("TOBY") Award for the Stein Mart Building in Jacksonville, Florida. Parkway Realty Services ("PRS") signed leasing agreements assigning PRS as the leasing agent for 10 additional properties totaling 1,187,000 square feet in Jacksonville, Florida, and two additional properties totaling 217,000 square feet in Houston, Texas. PRS will be responsible for new and renewal leasing at these properties and will receive market-based leasing commissions for all signed leases.
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Earlier this month, the Stein Mart Building, located in Jacksonville, Florida, was chosen as the local winner of the TOBY Award for 2010 by the Building Owners and Managers Association ("BOMA") of Jacksonville. The TOBY Award recognizes excellence in building management, operational efficiency, tenant relations, emergency planning, and community impact. The Stein Mart Building also received this award in 2008.
Steven G. Rogers, President and Chief Executive Officer, stated, "We are very pleased with the progress we see with our expansion of PRS in Houston and Jacksonville. The additional leasing fee income we will receive further solidifies our strategic transition to an operator/owner. The selection of the Stein Mart Building as the TOBY award winner is a direct result of the high standards for operations and the exceptional customer service demonstrated consistently by our Jacksonville team. It is this type of leadership and commitment to excellence that is rooted in Parkway's culture, and which has helped them achieve 83% customer retention in Jacksonville over the past three years."
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 13.3 million square feet of leasable space as of March 26, 2010. Included in the portfolio are 21 properties totaling 3.9 million square feet that are owned jointly with other investors, representing 28.9% 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 2.7 million square feet for third-party owners at March 26, 2010.
Parkway Properties, Inc.'s press releases and additional information about the Company are available on the World Wide Web at http://www.pky.com/.
CONTACT: Mandy M. Pope Interim Chief Financial Officer (601) 948-4091 William R. Flatt Chief Operating Officer (601) 948-4091
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Parkway Properties, Inc.
CONTACT: Mandy M. Pope, Interim Chief Financial Officer,
+1-601-948-4091, or William R. Flatt, Chief Operating Officer,
+1-601-948-4091, both of Parkway Properties, Inc.
Web Site: http://www.pky.com/
