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  <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'><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'>Date of Report (date
  of earliest event reported):&nbsp; December 13, 2007</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>
  
  
  
  
  
  <div align="center">
    <center>
  
  
  
  
  
  <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0
   style='margin-left:-.3in;border-collapse:collapse' height="58">
   <tr>
    <td width=228 valign=top style='width:171.0pt;padding:0in 5.4pt 0in 5.4pt' height="20" align="center">
    <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' height="20" align="center">
    <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' height="20" align="center">
    <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' height="19" align="center">
    <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' height="19" align="center">
    <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' height="19" align="center">
    <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' height="19" align="center">
    <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' height="19" align="center">
  
    <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' height="19" align="center">
    <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>Identification No.)</p>
    </td>
   </tr>
  </table>
  
  
  
    </center>
  </div>
  
  
  
  <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 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' align="center">
  Page 1 of 2 Pages</p>
  
  
  
  <hr color="#000080">
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  </p>
  
  
  <p style="margin-top: 0; margin-bottom: 0"><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='margin:0 0in; text-align:justify;text-indent:.5in'>&nbsp;</p>
  
  
  
  
  
  <p style='margin:0 0in; text-align:justify;text-indent:.5in'>On December 13,
  2007, Parkway Properties LP (the &quot;Company&quot;), the entity through which Parkway
  Properties, Inc. conducts substantially all of its business, exercised $96
  million of the $110 million accordion feature of its existing unsecured bank
  credit facility pursuant to Section&nbsp;2.16 of the Amended and Restated
  Credit&nbsp;Agreement between the Company and 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; The Company's credit facility capacity increased from $200
  million to $296 million and is comprised of a $60 million term loan maturing in
  April 2011 and a $236 million revolving loan maturing in April 2010.&nbsp; The
  interest rate on the credit facility is currently LIBOR plus 130 basis points.&nbsp;
  Other terms and conditions under the credit facility remain unchanged.&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'>&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'>&nbsp;</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 13, 2007</p>
  
  <p style='text-indent:3.0in; 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; PARKWAY PROPERTIES, INC.</p>
  
  
  
  
  
  <p style='margin-left:3.25in; 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; 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;&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;Mandy M. Pope</p>
  
  <p style='margin-left:3.5in; 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;Chief Financial Officer</p>
  
  
  
  <p style='margin-left:3.5in; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p style='margin-left:3.5in; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p style='margin-left:3.5in; margin-top:0; margin-bottom:0'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  Page 2 of 2 Pages</p>
  
  
  
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  </html>
metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "f8kexerciseaccordion1.htm", "description": "HTML FORMAT", "secsgml_size_bytes": 10406}, {"type": "8-K", "sequence": "2", "filename": "f8kexerciseaccordion.pdf", "description": "PDF FORMAT", "secsgml_size_bytes": 47824}]
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": "071305463"}, "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 13, 2007
  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 2.03.  Creation of a Direct Financial Obligation or
  an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
  On December 13,
  2007, Parkway Properties LP (the "Company"), the entity through which Parkway
  Properties, Inc. conducts substantially all of its business, exercised $96
  million of the $110 million accordion feature of its existing unsecured bank
  credit facility pursuant to Section 2.16 of the Amended and Restated
  Credit Agreement between the Company and 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.  The Company's credit facility capacity increased from $200
  million to $296 million and is comprised of a $60 million term loan maturing in
  April 2011 and a $236 million revolving loan maturing in April 2010.  The
  interest rate on the credit facility is currently LIBOR plus 130 basis points. 
  Other terms and conditions under the credit facility remain unchanged.
  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 13, 2007
  PARKWAY PROPERTIES, INC.
  By:
  /s/Mandy M. Pope
  Mandy M. Pope
  Chief Financial Officer
  Page 2 of 2 Pages