A NYSE-listed real estate investment trust, Parkway owns and operates high quality office properties primarily in high-growth markets in the Sunbelt. As of April 1, 2013, Parkway owns or has an interest in 45 office properties located in eight states with approximately 13.0 million square feet of leasable space. We also manage and/or lease approximately 11.8 million square feet for third-party owners.
Parkway was created in 1971 under the Texas Real Estate Investment Trust Act and operated under the name Texas First Mortgage Real Estate Investment Trust ("TFMR"). From its inception through June 30, 1974, TFMR operated as a qualified real estate investment trust ("REIT"). TFMR was reorganized and converted into a Texas corporation known as The Parkway Company on January 7, 1981.
On August 2, 1996, the company completed its re-incorporation under the laws of the State of Maryland and is now known as Parkway Properties, Inc. In May 2011, Parkway combined with Eola Capital LLC. and gained a new management team. Parkway Properties, Inc. is a member of the S&P small Cap 600 Index and is a self-administered real estate investment trust specializing in the operation, leasing, acquisition, and ownership of office properties. The Company is geographically focused on the Southeastern and Southwestern United States.