Parkway Properties downsizes in Atlanta

Sells 3 buildings to pay off debt

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Parkway Properties Inc. sold three office properties totaling 181,000 square feet in Atlanta, Ga., for a combined sales price of $17.2 million. The properties, Hightower Centre, Pavilion Center and Roswell North, are located in various submarkets with a combined occupancy of 76.6 percent at the time of sale. Buyers' identities were not disclosed. Proceeds from the sale were used to repay amounts outstanding under the company's lines of credit, according to a press statement. Parkway Properties Inc. is a self-administered real estate investment trust operating in the southeastern and southwestern United States and Chicago. ...