JACKSON, Miss., Dec. 11 /PRNewswire-FirstCall/ -- Parkway Properties,
Inc. (NYSE: PKY) announced today leasing activity for the month ended
November 30, 2006.
(Logo: http://www.newscom.com/cgi-bin/prnh/20030513/PARKLOGO )
As of December 1, 2006, occupancy of the office portfolio was 91.7%, up
from 91.3% as of November 1, 2006. Since September 30, 2006, 67 leases were
renewed or expanded for approximately 410,000 square feet. Additionally, 21
new leases were signed totaling approximately 66,000 square feet. Not
included in occupancy are 23 leases totaling approximately 138,000 square
feet, which have been fully executed as of December 11, 2006. These leases
bring the portfolio to 92.8% leased as of December 11, 2006 as compared to
91.9% as of November 10, 2006. Consistent with prior earnings guidance, the
Company expects average occupancy during the first quarter of 2007 to be
approximately 91%.
With these leasing statistics returning to expected levels, the Company
will discontinue the monthly reporting of leasing activity and return to
the quarterly release of leasing statistics.
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 12.9 million square feet of leasable space as of December 11,
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.
CONTACT: STEVEN G. ROGERS
PRESIDENT & CHIEF EXECUTIVE OFFICER
WILLIAM R. FLATT
CHIEF FINANCIAL OFFICER
(601) 948-4091
Parkway Properties, Inc.
Leasing Status
12/11/2006
Consol- Unconsoli-
Wholly idated dated
Owned JVs JVs Total
Occupancy
Percentage
12/1/06 91.5% 90.1% 94.9% 91.7%
Total Square
Footage 11,179,352 790,011 953,321 12,922,684
Vacancy (A) 946,914 78,251 48,307 1,073,472
Commencement
City Building Square Feet Quarter Year
Atlanta, GA Hightower Centre 873 873 1 2007
Charlotte, NC Carmel Crossing 3,133 3,133 4 2006
Charlotte, NC Carmel Crossing 3,713 3,713 4 2006
Chicago, IL 111 East Wacker 33,681 33,681 2 2007
Chicago, IL 111 East Wacker 33,681 33,681 2 2007
Chicago, IL 233 North
Michigan 2,292 2,292 2 2007
Hampton Greenbrier
Roads, VA Tower II 3,302 3,302 1 2007
Houston, TX One Commerce
Green 7,507 7,507 4 2006
Jackson, MS City Centre 10,413 10,413 4 2006
Jackson, MS City Centre 4,613 4,613 1 2007
Jackson, MS City Centre 1,098 1,098 1 2007
Jackson, MS One Jackson
Place 3,553 3,553 1 2007
Jacksonville, Riverplace
FL South 1,188 1,188 4 2006
Knoxville, TN First Tennessee
Plaza 968 968 1 2007
Memphis, TN Forum I 3,305 3,305 4 2006
Memphis, TN Morgan Keegan
Tower 1,348 1,348 1 2007
Nashville, TN Bank of America
Plaza 6,549 6,549 1 2007
Nashville, TN Bank of America
Plaza 1,758 1,758 1 2007
Orlando, FL Citrus Center 953 953 4 2006
Orlando, FL Citrus Center 4,387 4,387 4 2006
Orlando, FL Maitland 100 1,426 1,426 1 2007
Richmond, VA Moorefield III 2,735 2,735 1 2007
Tampa/St. Wachovia
Pete, FL Plaza 5,538 5,538 1 2007
Sum of signed
leases (B) 129,742 1,426 6,846 138,014
Adjusted
Vacancy
(A less B) 817,172 76,825 41,461 935,458
Leased
Percentage 92.7% 90.3% 95.7% 92.8%
SOURCE Parkway Properties, Inc.
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Related links:
http://www.pky.com/
http://www.prnewswire.com/comp/103115.html/
CONTACT:
Steven G. Rogers, President & Chief Executive
Officer, or William R. Flatt, Chief Financial Officer, of Parkway
Properties, Inc., +1-601-948-4091
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