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Subsequent Events (Notes)
12 Months Ended
Dec. 31, 2014
Subsequent Events [Abstract]  
Subsequent Events
Subsequent Events

On January 8, 2015, the Company acquired One Buckhead Plaza, an office building located in the Buckhead submarket of Atlanta, Georgia, for a gross purchase price of $157.0 million. The Company made a $15.0 million earnest money deposit related to the pending acquisition of One Buckhead Plaza as of December 31, 2014.

On January 15, 2015, the Company sold Raymond James Tower, an office property located in Memphis, Tennessee for a gross sale price of $19.3 million, providing $8.9 million in buyer credits, and expects to recognize a gain of approximately $47,000 in the first quarter of 2015.



On January 27, 2015, the Company exercised the accordion feature under the Amended Agreement to increase the senior unsecured revolving credit facility by a $200.0 million. With this increase, the senior unsecured revolving credit facility totals $450.0 million. All other terms and covenants associated with the senior unsecured revolving credit facility remained unchanged as a result of the increase.

On February 4, 2015, the Company sold Honeywell, an office property located in Houston, Texas for a gross sale price of $28.0 million and expects to recognize a gain of approximately $14.3 million in the first quarter of 2015.

On February 20, 2015, the Board of Directors adopted the Parkway Properties, Inc. and Parkway Properties LP 2015 Omnibus Equity Incentive Plan (the “2015 Equity Plan”) and recommended adoption of the same to the Company’s stockholders.  The 2015 Equity Plan permits the grant of awards with respect to a number of shares of Common Stock equal to the sum of (1) 2,500,000 shares, plus (2) the number of shares available for future awards under the 2013 Equity Plan, plus (3) the number of shares related to awards outstanding under the 2013 Equity Plan that terminate by expiration or forfeiture, cancellation, or otherwise without the issuance of such shares of Common Stock.