163,000-SQUARE-FOOT OFFICE BUILDING SOLD FOR $15.7 MILLION

HOUSTON — Parkway Properties has sold the 163,000-square-foot One Park Ten office building to an undisclosed party for $15.7 million. The 28-year-old Houston property is 93.7 percent occupied. Parkway will recognize an $8.6 million gain on the sale during the second quarter. The sale is part of the company's program aimed at recycling older assets and investing in newer, larger properties.