content: <html>
  
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  <title>SECURITIES AND EXCHANGE COMMISSION</title>
  
  
  
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  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'><b>&nbsp;</b></p>
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'><b>&nbsp;</b></p>
  
  
  
  
  
  
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'><b>UNITED STATES</b></p>
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'><b>SECURITIES AND EXCHANGE COMMISSION</b></p>
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>Washington, D.C.
  20549</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'><b><u>__________________________</u></b></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'><b>FORM 8-K</b></p>
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'><b>&nbsp;</b></p>
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>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; margin-top:0; margin-bottom:0'>&nbsp;</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'>Date of Report (date
  of earliest event reported):&nbsp; December 19, 2006</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;</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 align=center style='text-align:center; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  
  
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   style='margin-left:-.3in;border-collapse:collapse'>
   <tr>
    <td width=228 valign=top style='width:171.0pt;padding:0in 5.4pt 0in 5.4pt'>
    <p align=center style='text-align:center; margin-top:0; margin-bottom:0'><u>Maryland</u></p>
    </td>
    <td width=228 valign=top style='width:171.0pt;padding:0in 5.4pt 0in 5.4pt'>
    <p align=center style='text-align:center; margin-top:0; margin-bottom:0'><u>1-11533</u></p>
    </td>
    <td width=180 valign=top style='width:135.0pt;padding:0in 5.4pt 0in 5.4pt'>
    <p align=center style='text-align:center; margin-top:0; margin-bottom:0'><u>74-2123597</u></p>
    </td>
   </tr>
   <tr>
    <td width=228 valign=top style='width:171.0pt;padding:0in 5.4pt 0in 5.4pt'>
    <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>(State or Other
    Jurisdiction</p>
    </td>
    <td width=228 valign=top style='width:171.0pt;padding:0in 5.4pt 0in 5.4pt'>
    <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>(Commission File
    Number)</p>
    </td>
    <td width=180 valign=top style='width:135.0pt;padding:0in 5.4pt 0in 5.4pt'>
    <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>(IRS Employer</p>
    </td>
   </tr>
   <tr>
    <td width=228 valign=top style='width:171.0pt;padding:0in 5.4pt 0in 5.4pt'>
    <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>of Incorporation)</p>
    </td>
    <td width=228 valign=top style='width:171.0pt;padding:0in 5.4pt 0in 5.4pt'>
  
    <p style="margin-top: 0; margin-bottom: 0">
  
    </td>
    <td width=180 valign=top style='width:135.0pt;padding:0in 5.4pt 0in 5.4pt'>
    <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>Identification No.)</p>
    </td>
   </tr>
  </table>
  
  
  
    </center>
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  <p align=center style='margin-left:4.5pt;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>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='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='margin-left:4.5pt;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; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p style='text-indent:.5in; margin-top:0; margin-bottom:0'>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'>&nbsp;</p>
  
  
  
  <p style='margin-left:.5in;text-indent:-.5in; margin-top:0; margin-bottom:0'>&#61551;&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'>&#61551;&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'>&#61551;&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'>&#61551;&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 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'>Page 1 of 2 Pages</p>
  
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  <p style='text-align:justify; margin-top:0; margin-bottom:0'><b>ITEM 1.01.&nbsp; Entry into a
  Material Definitive Agreement</b></p>
  
  <p style='text-align:justify; margin-top:0; margin-bottom:0'><b>&nbsp;</b></p>
  
  <p style='text-align:justify; margin-top:0; margin-bottom:0'>On December 19, 2006, Parkway
  Properties, Inc. (the &quot;Company&quot;) entered into a First Amendment to the Credit
  Agreement with a consortium of 10 banks with Wachovia Bank, National
  Association as Agent; PNC Bank, National Association as Syndication Agent; Bank
  of America, N. A., JPMorgan Chase Bank, N. A. and Wells Fargo Bank, National
  Association as Co-Documentation Agents; and other banks as participants.&nbsp; This
  Amendment amends the financial covenants to provide that the secured debt to
  total asset value ratio shall not exceed 48.5% through January 7, 2007, shall
  not exceed 46.5% from January 8, 2007 through March 31, 2007 and shall not
  exceed 45% thereafter.&nbsp; Prior to this Amendment, this ratio was scheduled to
  revert to 45% on January 7, 2007.&nbsp; No other amendments were made to the Credit
  Agreement and no additional fees were paid upon closing of the Amendment.&nbsp;</p>
  
  
  
  <p style="margin-top: 0; margin-bottom: 0">&nbsp;</p>
  
  
  
  <p style="margin-top: 0; margin-bottom: 0"><b>ITEM 9.01.&nbsp;&nbsp;&nbsp;&nbsp; Financial Statements and Exhibits</b></p>
  
  
  
  <p style="margin-top: 0; margin-bottom: 0">&nbsp;</p>
  
  
  
  <p style="margin-top: 0; margin-bottom: 0">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibits.</p>
  
  
  
  <p style='text-align:justify; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  
  
  <p style='text-align:justify; margin-top:0; margin-bottom:0'>(10)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;First
  Amendment to Credit Agreement among Parkway Properties, LP as Borrower; 111
  Capitol Building Limited Partnership, Parkway Jackson, LLC, Parkway Lamar LLC,
  Parkway Properties, Inc. and Parkway Properties General Partners, Inc.
  collectively as Guarantors; Wachovia Bank, National Association as Agent;
  Wachovia Capital Markets, LLC as Sole Lead Arranger and Sole Book Runner; and
  the Lenders dated as of December 19, 2006.</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;</p>
  
  
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'><b>SIGNATURES</b></p>
  
  
  
  <p style='text-align:justify;text-indent:.5in; margin-top:0; margin-bottom:0'>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 style="margin-top: 0; margin-bottom: 0">&nbsp;</p>
  
  
  
  <p style="margin-top: 0; margin-bottom: 0">Date:&nbsp;&nbsp;&nbsp; December 20, 2006</p>
  
  <p style='text-indent:3.0in; margin-top:0; margin-bottom:0'>PARKWAY PROPERTIES, INC.</p>
  
  
  
  
  
  <p style='margin-left:3.25in; margin-top:0; margin-bottom:0'>By: &nbsp;&nbsp; <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; </u></p>
  
  <p style='margin-left:3.5in; margin-top:0; margin-bottom:0'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  &nbsp;Mandy M. Pope</p>
  
  <p style='margin-left:3.5in; margin-top:0; margin-bottom:0'>&nbsp;&nbsp;&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'>Page 2
  of 2 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": "061290948"}, "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):  December 19, 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):
         Written communications pursuant to
  Rule 425 under the Securities Act (17 CFR 230.425)
         Soliciting material pursuant to Rule
  14a-12 under the Exchange Act (17 CFR 240.14a-12)
         Pre-commencement communications
  pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
         Pre-commencement communications
  pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
  Page 1 of 2 Pages
  ITEM 1.01.  Entry into a
  Material Definitive Agreement
  On December 19, 2006, Parkway
  Properties, Inc. (the "Company") entered into a First Amendment to the Credit
  Agreement with a consortium of 10 banks with Wachovia Bank, National
  Association as Agent; PNC Bank, National Association as Syndication Agent; Bank
  of America, N. A., JPMorgan Chase Bank, N. A. and Wells Fargo Bank, National
  Association as Co-Documentation Agents; and other banks as participants.  This
  Amendment amends the financial covenants to provide that the secured debt to
  total asset value ratio shall not exceed 48.5% through January 7, 2007, shall
  not exceed 46.5% from January 8, 2007 through March 31, 2007 and shall not
  exceed 45% thereafter.  Prior to this Amendment, this ratio was scheduled to
  revert to 45% on January 7, 2007.  No other amendments were made to the Credit
  Agreement and no additional fees were paid upon closing of the Amendment.
  ITEM 9.01.     Financial Statements and Exhibits
  (d)        Exhibits.
  (10)      First
  Amendment to Credit Agreement among Parkway Properties, LP as Borrower; 111
  Capitol Building Limited Partnership, Parkway Jackson, LLC, Parkway Lamar LLC,
  Parkway Properties, Inc. and Parkway Properties General Partners, Inc.
  collectively as Guarantors; Wachovia Bank, National Association as Agent;
  Wachovia Capital Markets, LLC as Sole Lead Arranger and Sole Book Runner; and
  the Lenders dated as of December 19, 2006.
  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:    December 20, 2006
  PARKWAY PROPERTIES, INC.
  By:
  /s/Mandy M. Pope
  Mandy M. Pope
  Chief Accounting Officer
  Page 2
  of 2 Pages