Parkway acquires 8 office buildings for $130 million
Parkway Properties Inc. announced Thursday it has purchased eight office properties totaling 1 million square feet in the Deerwood submarket for $130 million.
A purchase-and-sale agreement for the deal was announced in January.
The properties were developed in phases from 1996-2005 and are currently just under 94 percent occupied.
With the acquisition, Parkway now owns about 1.4 million square feet and manages or leases another 2 million.
Victor Hughes, Parkway managing director for Jacksonville, and Michael Loftin, managing director of leasing, will handle leasing for the properties.
Parkway Properties is a self-administrated real estate investment trust specializing in ownership of office properties in higher-growth submarkets in the Sunbelt region of the country.