Parkway Properties to Buy Eight Office Buildings in Jacksonville, FL for $130M

Parkway Properties, Inc. PKY announced today that it has entered into a purchase and sale agreement to acquire a portfolio of eight office properties totaling 1.0 million square feet located in the Deerwood submarket of Jacksonville, Florida (the "Deerwood Portfolio") for a purchase price of $130 million.  The properties were developed in phases from 1996 through 2005 and are currently a combined 93.7% occupied with an average in place gross rent per square foot of $19.11.