Parkway Announces Short-Term Renewal With Apache Corporation At Post Oak Central
PARKWAY INC (PKY)
Last parkway inc earnings: 8/11 04:24 pm
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Source: PR Newswire
HOUSTON, June 12, 2017 /PRNewswire/ -- Parkway, Inc. (NYSE: PKY) announced today that it has signed a 26-month lease extension with Apache Corporation ("Apache") at Post Oak Central. The renewal extends all 524,000 square feet currently occupied by Apache through February 28, 2022. Additionally, the renewal preserves Apache's existing five-year and ten-year renewal options, which would supersede the terms of this amendment if exercised prior to December 31, 2017. "We are pleased that we were able to reach an agreement with Apache with a renewal that is mutually beneficial to both parties," stated James R. Heistand, President and Chief Executive Officer of Parkway. "This extension gives Apache at least two more years of term while creating value for Parkway's stockholders and adding stability to Post Oak Central for nearly five years."Apache was represented by Tim Relyea and Scott Wegmann of Cushman & Wakefield.About ParkwayParkway, Inc. is an independent,
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