Parkway, Midway Launch New Company with 45 MSF in Assets Under Management

by Taylor Williams

HOUSTON — Orlando-based office owner-operator Parkway Property Investments and Houston-based mixed-use developer Midway have entered into a definitive agreement to create a new company with approximately 45 million square feet of commercial assets under management. That figure includes both stabilized assets and projects in various stages of development.

The new venture expects to bring its teams together in the third quarter. The new entity will be headquartered in Houston and will offer a suite of services, including development, acquisitions, asset management, property management and leasing. Financial terms were not disclosed. Midway’s Bradley Freels and Parkway’s James Heistand will serve as co-executive chairmen of the board. Jayson Lipsey of Parkway and Jamie Bryant of Midway will serve as co-CEOs.

Parkway is perhaps best known for developing Greenway Plaza, a 52-acre office campus located in between Houston’s Uptown and downtown areas. Midway is the developer behind large-scale mixed-use projects such as CITYCENTRE and East River.

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