content: <html>
  
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  <title>SECURITIES AND EXCHANGE COMMISSION</title>
  
  
  
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  <p align=center style='text-align:center'><b>&nbsp;</b></p>
  
  
  
  
  
  
  
  
  
  <p align=center style='text-align:center'><b>UNITED STATES</b></p>
  
  <p align=center style='text-align:center'><b>SECURITIES AND EXCHANGE COMMISSION</b></p>
  
  <p align=center style='text-align:center'>Washington, D.C.
  20549</p>
  
  
  
  <p align=center style='text-align:center'><b><u>__________________________</u></b></p>
  
  
  
  <p align=center style='text-align:center'><b>FORM 8-K</b></p>
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'><b>&nbsp;</b>Current Report</p>
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>Pursuant to Section
  13 or 15(d) of the Securities Exchange Act of 1934</p>
  
  
  
  
  
  <p align=center style='text-align:center'>Date of Report (date
  of earliest event reported):&nbsp; July 11, 2006</p>
  
  
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'><b><u>PARKWAY PROPERTIES, INC</u></b><u>.</u></p>
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>(Exact Name of
  Registrant as Specified in its Charter)</p>
  
  
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  
  
  <p style="margin-top: 0; margin-bottom: 0">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Maryland</u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>1-11533</u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>74-2123597</u></p>
  
  <p style="margin-top: 0; margin-bottom: 0">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; (State or Other Jurisdiction &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Commission
  File Number) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (IRS Employer</p>
  
  <p style="margin-top: 0; margin-bottom: 0">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; of Incorporation)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Identification
  No.)</p>
  
  
  
  <p style="margin-top: 0; margin-bottom: 0">&nbsp;</p>
  
  
  
  <p align=center style='margin-left:4.5pt;text-align:center; margin-top:0; margin-bottom:0'><u>One
  Jackson Place, Suite 1000, 188 East Capitol Street, Jackson, MS 39225-4647</u></p>
  
  <p align=center style='margin-left:4.5pt;text-align:center; margin-top:0; margin-bottom:0'>(Address
  of Principal Executive Offices, including zip code)</p>
  
  
  
  <p align=center style='margin-left:4.5pt;text-align:center; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'><u>(601) 948-4091</u></p>
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>(Registrant's
  telephone number, including area code)</p>
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p align=center style='margin-left:4.5pt;text-align:center; margin-top:0; margin-bottom:0'><u>Not
  Applicable</u></p>
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>(Former name or
  former address, if changed since last report)</p>
  
  
  
  <p style='text-indent:.5in'>Check the appropriate box below if
  the Form 8-K filing is intended to simultaneously satisfy the filing obligation
  of the registrant under any of the following provisions (see General
  Instruction A.2. below):</p>
  
  
  
  <p style='margin-left:.5in;text-indent:-.5in; margin-top:0; margin-bottom:0'>o&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Written
  communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</p>
  
  <p style='margin-left:.5in;text-indent:-.5in; margin-top:0; margin-bottom:0'>o&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Soliciting
  material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</p>
  
  <p style='margin-left:.5in;text-indent:-.5in; margin-top:0; margin-bottom:0'>o&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-commencement
  communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
  240.14d-2(b))</p>
  
  <p style='margin-left:.5in;text-indent:-.5in; margin-top:0; margin-bottom:0'>o&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-commencement
  communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
  240.13e-4(c))</p>
  
  
  
  <p style='margin-left:.5in;text-indent:-.5in; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p align=center style='text-align:center'>Page 1 of 3 Pages</p>
  
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  <p><b>ITEM 2.01.&nbsp;&nbsp;&nbsp;&nbsp; Completion of Acquisition or Disposition
  of Assets.</b></p>
  
  
  
  <p style='text-align:justify'>On July 11, 2006, Parkway
  Properties, Inc. completed the previously announced fee simple purchase of One
  Illinois Center, a 1,003,000 square-foot office building with an attached
  four-level structured parking garage, located at 111 East Wacker Drive in the
  East Loop sub-market of Chicago. The property was acquired from Lincoln-Carlyle
  Illinois Center LLC for $198 million plus closing costs and transfer taxes of
  approximately $1.6 million.&nbsp; </p>
  
  
  
  <p style='text-align:justify'>The purchase was funded by a
  $148.5 million non-recourse first mortgage with a fixed interest rate of 6.29%,
  interest only payments for five years and a 10-year maturity.&nbsp; Additional
  purchase funding was provided by a $33.7 million mezzanine loan with a
  six-month term at an interest rate of LIBOR plus 130 basis points (current rate
  set at 6.65%), proceeds from the recent sale of Viad Corporate Center in
  Phoenix and amounts drawn under existing lines of credit.&nbsp; </p>
  
  
  
  <p style='text-align:justify'><b>ITEM 2.03.&nbsp; Creation of a
  Direct Financial Obligation or an Obligation under an Off-Balance Sheet
  Arrangement of a Registrant.</b></p>
  
  
  
  <p style='text-align:justify'>See Item 2.01 above.</p>
  
  
  
  <p><b>ITEM 9.01.&nbsp;&nbsp;&nbsp;&nbsp; Financial Statements and Exhibits.</b></p>
  
  <p>(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial Statements of Business Acquired.</p>
  
  
  
  <p style='margin-left:.5in;text-align:justify'>The financial
  statements and additional information required pursuant to Item 9.01(a) of Form
  8-K will be filed by amendment to this report on Form 8-K within 71 calendar
  days after the date on which this report on Form 8-K must be filed.</p>
  
  
  
  <p style='text-align:justify'>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pro Forma Financial
  Information.</p>
  
  
  
  <p style='margin-left:.5in;text-align:justify'>The pro forma
  financial information required pursuant to Item 9.01(b) of Form 8-K will be
  filed by amendment to this report on Form 8-K within 71 calendar days after the
  date on which this report on Form 8-K must be filed.</p>
  
  
  
  <p style='page-break-after:avoid'>(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibits.</p>
  
  
  
  <p style='margin-left:.5in;text-align:justify;text-indent:-.5in;
  page-break-after:avoid; margin-top:0; margin-bottom:0'>10.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  Real Estate Sales Agreement between Lincoln-Carlyle Illinois Center LLC
  and Parkway Properties LP</p>
  
  <p style='margin-left:.5in;text-align:justify;text-indent:-.5in;
  page-break-after:avoid; margin-top:0; margin-bottom:0'>10.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  First Amendment to Real Estate Sales Agreement between Lincoln-Carlyle
  Illinois Center LLC and Parkway Properties LP</p>
  
  <p style='margin-left:.5in;text-align:justify;text-indent:-.5in;
  page-break-after:avoid; margin-top:0; margin-bottom:0'>10.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  Second Amendment to Real Estate Sales Agreement between Lincoln-Carlyle
  Illinois Center LLC and Parkway Properties LP</p>
  
  <p style='margin-left:.5in;text-align:justify;text-indent:-.5in;
  page-break-after:avoid; margin-top:0; margin-bottom:0'>10.4&nbsp;&nbsp; &nbsp;&nbsp;
  Mortgage, Security Agreement, Assignment of Rents and Fixture Filing by
  111 East Wacker LLC to Wachovia Bank, National Association</p>
  
  <p style='margin-left:.5in;text-align:justify;text-indent:-.5in;
  page-break-after:avoid; margin-top:0; margin-bottom:0'>10.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  Promissory Note by 111 East Wacker LLC to Wachovia Bank, National
  Association</p>
  
  <p align=center style='text-align:center'>Page 2 of 3 Pages</p>
  
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  <p align=center style='text-align:center'>SIGNATURES</p>
  
  
  
  <p style='text-indent:.5in'>Pursuant to the requirements of the
  Securities Exchange Act of 1934, the registrant has duly caused this report to
  be signed on its behalf by the undersigned hereunto duly authorized.</p>
  
  
  
  <p>Date:&nbsp;&nbsp;&nbsp; July 14, 2006</p>
  
  <p style='text-indent:3.0in'>PARKWAY PROPERTIES, INC.</p>
  
  
  
  
  
  <p style='text-indent:3.0in'>&nbsp;</p>
  
  
  
  
  
  <p style='margin-left:3.25in; margin-top:0; margin-bottom:0'>By: /<u>s/ Mandy M. Pope&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u></p>
  
  <p style='margin-left:3.5in; margin-top:0; margin-bottom:0'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mandy M. Pope</p>
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>&nbsp;&nbsp;&nbsp;&nbsp;
  Chief Accounting Officer</p>
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>&nbsp;Page
  3 of 4 Pages</p>
  
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metadata_filer: {"company-data": {"conformed-name": "PARKWAY PROPERTIES INC", "cik": "0000729237", "assigned-sic": "6798", "irs-number": "742123597", "state-of-incorporation": "MD", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-11533", "film-number": "06961725"}, "business-address": {"street1": "ONE JACKSON PL", "street2": "188 E CAPITOL ST STE 1000", "city": "JACKSON", "state": "MS", "zip": "39225-4647", "phone": "6019484091"}, "mail-address": {"street1": "ONE JACKSON PL P O BOX 24647", "street2": "188 E CAPITOL ST STE 1000", "city": "JACKSON", "state": "MS", "zip": "39225"}, "former-company": {"former-conformed-name": "PARKWAY CO", "date-changed": "19951018"}}
text: SECURITIES AND EXCHANGE COMMISSION
  UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  Washington, D.C.
  20549
  __________________________
  FORM 8-K
  Current Report
  Pursuant to Section
  13 or 15(d) of the Securities Exchange Act of 1934
  Date of Report (date
  of earliest event reported):  July 11, 2006
  PARKWAY PROPERTIES, INC
  .
  (Exact Name of
  Registrant as Specified in its Charter)
  Maryland
  1-11533
  74-2123597
  (State or Other Jurisdiction             (Commission
  File Number)                      (IRS Employer
  of Incorporation)                                                                                 Identification
  No.)
  One
  Jackson Place, Suite 1000, 188 East Capitol Street, Jackson, MS 39225-4647
  (Address
  of Principal Executive Offices, including zip code)
  (601) 948-4091
  (Registrant's
  telephone number, including area code)
  Not
  Applicable
  (Former name or
  former address, if changed since last report)
  Check the appropriate box below if
  the Form 8-K filing is intended to simultaneously satisfy the filing obligation
  of the registrant under any of the following provisions (see General
  Instruction A.2. below):
  o       Written
  communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  o       Soliciting
  material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  o       Pre-commencement
  communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
  240.14d-2(b))
  o       Pre-commencement
  communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
  240.13e-4(c))
  Page 1 of 3 Pages
  ITEM 2.01.     Completion of Acquisition or Disposition
  of Assets.
  On July 11, 2006, Parkway
  Properties, Inc. completed the previously announced fee simple purchase of One
  Illinois Center, a 1,003,000 square-foot office building with an attached
  four-level structured parking garage, located at 111 East Wacker Drive in the
  East Loop sub-market of Chicago. The property was acquired from Lincoln-Carlyle
  Illinois Center LLC for $198 million plus closing costs and transfer taxes of
  approximately $1.6 million.
  The purchase was funded by a
  $148.5 million non-recourse first mortgage with a fixed interest rate of 6.29%,
  interest only payments for five years and a 10-year maturity.  Additional
  purchase funding was provided by a $33.7 million mezzanine loan with a
  six-month term at an interest rate of LIBOR plus 130 basis points (current rate
  set at 6.65%), proceeds from the recent sale of Viad Corporate Center in
  Phoenix and amounts drawn under existing lines of credit.
  ITEM 2.03.  Creation of a
  Direct Financial Obligation or an Obligation under an Off-Balance Sheet
  Arrangement of a Registrant.
  See Item 2.01 above.
  ITEM 9.01.     Financial Statements and Exhibits.
  (a)        Financial Statements of Business Acquired.
  The financial
  statements and additional information required pursuant to Item 9.01(a) of Form
  8-K will be filed by amendment to this report on Form 8-K within 71 calendar
  days after the date on which this report on Form 8-K must be filed.
  (b)        Pro Forma Financial
  Information.
  The pro forma
  financial information required pursuant to Item 9.01(b) of Form 8-K will be
  filed by amendment to this report on Form 8-K within 71 calendar days after the
  date on which this report on Form 8-K must be filed.
  (d)        Exhibits.
  10.1     
  Real Estate Sales Agreement between Lincoln-Carlyle Illinois Center LLC
  and Parkway Properties LP
  10.2     
  First Amendment to Real Estate Sales Agreement between Lincoln-Carlyle
  Illinois Center LLC and Parkway Properties LP
  10.3     
  Second Amendment to Real Estate Sales Agreement between Lincoln-Carlyle
  Illinois Center LLC and Parkway Properties LP
  10.4     
  Mortgage, Security Agreement, Assignment of Rents and Fixture Filing by
  111 East Wacker LLC to Wachovia Bank, National Association
  10.5     
  Promissory Note by 111 East Wacker LLC to Wachovia Bank, National
  Association
  Page 2 of 3 Pages
  SIGNATURES
  Pursuant to the requirements of the
  Securities Exchange Act of 1934, the registrant has duly caused this report to
  be signed on its behalf by the undersigned hereunto duly authorized.
  Date:    July 14, 2006
  PARKWAY PROPERTIES, INC.
  By: /
  s/ Mandy M. Pope
  Mandy M. Pope
  Chief Accounting Officer
  Page
  3 of 4 Pages