content: UNITED STATES1
  
                 SECURITIES AND EXCHANGE COMMISSION
                                  
                        WASHINGTON, DC  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):  Nov. 25, 1997
                                                    ---------------
  -
  
  
                      PARKWAY PROPERTIES, INC.
  -------------------------------------------------------------
       (Exact name of Registrant as specified in its charter)
  
  
  
  Maryland                 1-11533                  74-2123597
  -------------------------------------------------------------
  (State or other   (Commission File Number)     (IRS Employer
  jurisdiction of                              Identification
  incorporation)                                     Number)
  
  
  One Jackson Place Suite 1000
    188 East Capitol Street
        P. O. Box 24647
  Jackson, Mississippi                          39225-4647
  -------------------------------------------------------------
  (Address of principal executive offices)        (Zip Code)
  
  
  Registrant's telephone number, including area code (601) 948-4091
                                                     --------------
  -
  
  
  -----------------------------------------------------------------
  -
   (Former name or former address, if changed since last report)
                              FORM 8-K
                                  
                      PARKWAY PROPERTIES, INC.
  
  
  Item 2.   Acquisition or Disposition of Assets.
  
             On  November 25, 1997, a limited partnership in  which
  Parkway  Properties, Inc. is a 99% limited partner and a  wholly-
  owned subsidiary is a 1% general partner purchased the Greenbrier
  Towers  in Chesapeake, Virginia for $16,000,000 from an unrelated
  party.   Greenbrier  Towers  consists  of  two  six-story  office
  buildings  constructed in 1985 and 1987 containing  approximately
  11.4  acres  within Greenbrier Business Park.  The buildings  are
  strategically  located  in  the  Hampton  Roads  area   (Norfolk,
  Virginia  Beach and Newport News) of Southern Virginia  and  have
  direct  access to Interstates 64 and 464.  The buildings are  98%
  leased  to  35  tenants with the largest tenant occupying  27,877
  square feet or 16% of the total net rentable square feet under  a
  lease  that  expires in September 2007. The purchase  was  funded
  with  bank  borrowings on a line of credit with Deposit  Guaranty
  National  Bank  at  a rate equal to the 90-day  Libor  rate  plus
  1.75%, currently 7.53%.
  
  Item 7.   Financial Statements and Exhibits.
  
            (a)  Financial Statements
  
                           It is impractical to provide the audited
                 financial statements of Greenbrier Towers required
                 by  Item  7(a)  of  Form 8-K, but  such  financial
                 statements will be filed as soon as practical  but
                 not  later than 60 days after the filing  of  this
                 Form 8-K.
  
            (b)  Pro Forma Consolidated Financial Statements
  
                            The  pro  forma consolidated  financial
                 statements   will  be  filed  with   the   audited
                 financial statements of Greenbrier Towers.
  
            (c)  Exhibits.
  
                                  (10)   The  purchase   and   sale
                 agreement will be filed with the audited financial
                 statements  of Greenbrier Towers.  Parkway  agrees
                 to  furnish  supplementally to the Securities  and
                 Exchange  Commission  on request  a  copy  of  any
                 omitted schedule or exhibit to this agreement.
                              FORM 8-K
                                  
                      PARKWAY PROPERTIES, INC.
                                  
                                  
                             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 10, 1997
  
                                          PARKWAY PROPERTIES, INC.
  
  
  
                                     By:  /s/Sarah P. Clark
                                          Sarah P. Clark
                                          Senior Vice President,
                                          Chief Financial Officer,
                                          Treasurer and Secretary
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  _______________________________
  1
metadata_documents: [{"type": "8-K", "sequence": "1", "secsgml_size_bytes": 4902}]
metadata_filer: {"company-data": {"conformed-name": "PARKWAY PROPERTIES INC", "cik": "0000729237", "assigned-sic": "6512", "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": "97735939"}, "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": "P O BOX 22728", "street2": "P O BOX 22728", "city": "JACKSON", "state": "MS", "zip": "39201"}, "former-company": {"former-conformed-name": "PARKWAY CO", "date-changed": "19951018"}}
text: UNITED STATES1
  
                 SECURITIES AND EXCHANGE COMMISSION
                                  
                        WASHINGTON, DC  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):  Nov. 25, 1997
                                                    ---------------
  -
  
                      PARKWAY PROPERTIES, INC.
  -------------------------------------------------------------
       (Exact name of Registrant as specified in its charter)
  
  Maryland                 1-11533                  74-2123597
  -------------------------------------------------------------
  (State or other   (Commission File Number)     (IRS Employer
  jurisdiction of                              Identification
  incorporation)                                     Number)
  
  One Jackson Place Suite 1000
    188 East Capitol Street
        P. O. Box 24647
  Jackson, Mississippi                          39225-4647
  -------------------------------------------------------------
  (Address of principal executive offices)        (Zip Code)
  
  Registrant's telephone number, including area code (601) 948-4091
                                                     --------------
  -
  
  -----------------------------------------------------------------
  -
   (Former name or former address, if changed since last report)
                              FORM 8-K
                                  
                      PARKWAY PROPERTIES, INC.
  
  Item 2.   Acquisition or Disposition of Assets.
  
             On  November 25, 1997, a limited partnership in  which
  Parkway  Properties, Inc. is a 99% limited partner and a  wholly-
  owned subsidiary is a 1% general partner purchased the Greenbrier
  Towers  in Chesapeake, Virginia for $16,000,000 from an unrelated
  party.   Greenbrier  Towers  consists  of  two  six-story  office
  buildings  constructed in 1985 and 1987 containing  approximately
  11.4  acres  within Greenbrier Business Park.  The buildings  are
  strategically  located  in  the  Hampton  Roads  area   (Norfolk,
  Virginia  Beach and Newport News) of Southern Virginia  and  have
  direct  access to Interstates 64 and 464.  The buildings are  98%
  leased  to  35  tenants with the largest tenant occupying  27,877
  square feet or 16% of the total net rentable square feet under  a
  lease  that  expires in September 2007. The purchase  was  funded
  with  bank  borrowings on a line of credit with Deposit  Guaranty
  National  Bank  at  a rate equal to the 90-day  Libor  rate  plus
  1.75%, currently 7.53%.
  
  Item 7.   Financial Statements and Exhibits.
  
            (a)  Financial Statements
  
                           It is impractical to provide the audited
                 financial statements of Greenbrier Towers required
                 by  Item  7(a)  of  Form 8-K, but  such  financial
                 statements will be filed as soon as practical  but
                 not  later than 60 days after the filing  of  this
                 Form 8-K.
  
            (b)  Pro Forma Consolidated Financial Statements
  
                            The  pro  forma consolidated  financial
                 statements   will  be  filed  with   the   audited
                 financial statements of Greenbrier Towers.
  
            (c)  Exhibits.
  
                                  (10)   The  purchase   and   sale
                 agreement will be filed with the audited financial
                 statements  of Greenbrier Towers.  Parkway  agrees
                 to  furnish  supplementally to the Securities  and
                 Exchange  Commission  on request  a  copy  of  any
                 omitted schedule or exhibit to this agreement.
                              FORM 8-K
                                  
                      PARKWAY PROPERTIES, INC.
                                  
                                  
                             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 10, 1997
  
                                          PARKWAY PROPERTIES, INC.
  
                                     By:  /s/Sarah P. Clark
                                          Sarah P. Clark
                                          Senior Vice President,
                                          Chief Financial Officer,
                                          Treasurer and Secretary
  
  _______________________________
  1