PARKWAY PROPERTIES ACQUIRES CITICORP PLAZA FOR $100 MILLION

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CHICAGO — Jackson, Miss.-based Parkway Properties has acquired Citicorp Plaza, a three-building, 600,446-square-foot office complex located at 8410, 8420 and 8430 W. Bryn Mawr Ave. in Chicago, for $100 million. The property comprises three 11-story, Class A buildings connected by an enclosed walkway, as well as an adjacent three-story parking garage and surface parking. The property is 86 percent leased, and includes tenants such as Citicorp North America, US Cellular Corp., CareerBuilder.com and the Association for Operations Management. Parkway purchased the property on behalf of its Office Fund from Apollo Real Estate Advisors’ Value Enhancement Fund IV. Parkway’s $500 million fund is now fully invested.

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