Parkway Properties Pays $130M For Fla. Office Portfolio

Law360, New York (January 22, 2013, 7:29 PM EST) -- Real estate investment trust Parkway Properties Inc. has agreed to buy an eight-building office portfolio covering 1 million square feet in Jacksonville, Fla., for $130 million, the firm announced Tuesday.

The properties, in the Deerwood submarket of Jacksonville, are about 93.7 percent occupied all together with an average in-place gross rent per square foot of $19.11, according to the REIT.

“We believe the Deerwood portfolio offers a stable, core investment with strong occupancy and a high-quality rent roll,” Parkway President and CEO James R. Heistand said...
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