Parkway Properties will close its Jackson office by the end of the year.
Parkway notified the office’s approximately 40 employees yesterday, a company spokesperson said.
The real estate investment trust has its Mississippi offices in downtown Jackson’s One Jackson Place. It sold most of its Mississippi portfolio within the past couple years. The only property it still owns in Mississippi is the City Centre in downtown Jackson. Parkway has maintained a presence in Jackson since the mid-1980s. The company moved its corporate headquarters from Jackson to Orlando early last year.
A Parkway spokesperson said the decision was made recently, and is meant to consolidate IT, HR, accounting and similar services into the company’s Orlando office. Jackson employees will be offered a severance package, and will be given the chance to apply for jobs in the Orlando office.
Parkway owns or has an interest in 45 office properties in eight states, most of those in the Sunbelt region. As of April 1, Parkway had approximately 13 million square feet of leasable space, and managed or leased just under 12 million square feet of space for third-party owners.
The company has offices in Atlanta, Charlotte, Phoenix, Jacksonville, Tampa and Houston.