Parkway Properties expands in Florida

Purchase made on behalf of REIT's 'Office Fund'

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Parkway Properties Inc. announced the purchase of a two-building office portfolio in Jacksonville, Fla., totaling 180,000 square feet. The two buildings were acquired for a combined purchase price of $24 million on behalf of Parkway Properties Office Fund L.P. (the "Fund"). The two properties were 91.4 percent leased at the time of sale. The BellSouth Building is a four-story, 92,000-square-foot office project constructed in 1996. The second property, Centurion Centre, is a four-story, 88,000-square-foot office project constructed in 1993. 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. ...