ORLANDO, Fla., Aug. 17, 2015 /PRNewswire/ -- Parkway
Properties, Inc. (NYSE:PKY) announced today that it has signed a
deal with Google Fiber Inc., a subsidiary of Google Inc. (NASDAQ:
GOOG), to bring its Small Business Gigabit Internet service to
Parkway customers. Google Fiber will provide these services to many
of Parkway's office buildings in Atlanta, Austin and Charlotte with the potential to
bring Google Fiber to the entire Parkway portfolio if Google Fiber
expands its service area.
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"The implementation of Google Fiber reinforces Parkway's
commitment to offering our customers a state-of-the-art technology
platform," stated Joel Anderson,
Parkway's Vice President and Director of Information Technology.
"At almost 100 times faster than the average Internet speed in
the United States, Google Fiber
should allow our customers to increase productivity and gain a
distinct strategic advantage. We believe that a long-term
partnership with Google Fiber will differentiate the Parkway
portfolio and further our efforts to maximize value of our
best-in-class assets."
"Parkway Properties is offering its customers some of the
fastest Internet in the world," said Lee
Bienstock, Google Fiber's Head of National Real Estate
Partnerships. "With this kind of speed, Parkway and Google
Fiber are helping businesses focus on what matters most, whether
that means taking advantage of the latest technologies, reducing
wait times on the web or providing faster services to customers.
We're looking forward to working with Parkway to bring gigabit
Internet to properties across the country."
About Parkway Properties
Parkway Properties, Inc. is a fully integrated,
self-administered and self-managed real estate investment trust
specializing in the acquisition, ownership, development and
management of quality office properties in higher growth submarkets
in the Sunbelt region of the United
States. Parkway owns or has an interest in 44 office
properties located in seven states with an aggregate of
approximately 16.2 million square feet of leasable space at
July 1, 2015. Fee-based real estate
services are offered through wholly owned subsidiaries of the
Company, which in total manage and/or lease approximately 4.2
million square feet for third-party owners at July 1, 2015.
About Google Fiber
Google Fiber is a Gigabit Internet and TV service, including a
Small Business offering that provides Internet speeds up to one
gigabit per second— almost 100 times faster than the average speeds
in America today. Google Fiber is currently available in three US
metro areas –Kansas City, Provo
and Austin. Google Fiber has
recently announced expansion plans in six additional metros,
Atlanta, Charlotte, Nashville, Raleigh-Durham, Salt Lake City and San Antonio. To find
out if your commercial building is eligible for Google Fiber
service for Small Business, visit us at
https://fiber.google.com/smallbusiness/.
Forward Looking Statements
Certain statements in this press release that are not in the
present or past tense or that discuss the Company's expectations
(including any use of the words "anticipate," "assume," "believe,"
"estimate," "expect," "forecast," "guidance," "intend," "may,"
"might," "outlook," "plan," "potential," "project," "should,"
"will" or similar expressions) are forward-looking statements
within the meaning of the federal securities laws and as such are
based upon the Company's current beliefs as to the outcome and
timing of future events. There can be no assurance that actual
future developments affecting the Company will be those anticipated
by the Company. Examples of forward-looking statements
include projections relating to fully diluted EPS, share of
depreciation and amortization, gain on sales of real estate,
reported FFO per share, recurring FFO per share, nonrecurring
items, net operating income, cap rates, internal rates of return,
dividend payment rates, FFO accretion, capital improvements,
expected sources of financing, the timing of closing of
acquisitions, dispositions or other transactions and descriptions
relating to these expectations. These forward-looking
statements involve risks and uncertainties (some of which are
beyond the control of the Company) and are subject to change based
upon various factors including, but not limited to, the following
risks and uncertainties: changes in the real estate industry and in
performance of the financial markets; the actual or perceived
impact of U.S. monetary policy; competition in the leasing market;
the demand for and market acceptance of the Company's properties
for rental purposes; oversupply of office properties in the
Company's geographic markets; the amount and growth of the
Company's expenses; customer financial difficulties and general
economic conditions, including increasing interest rates, as well
as economic conditions in the Company's geographic markets;
defaults or non-renewal of leases; risks associated with joint
venture partners; risks associated with the ownership and
development of real property, including risks related to natural
disasters; risks associated with property acquisitions; the failure
to acquire or sell properties as and when anticipated; termination
or non-renewal of property management contracts; the bankruptcy or
insolvency of companies for which the Company provides property
management services or the sale of these properties; the outcome of
claims and litigation involving or affecting the Company; the
ability to satisfy conditions necessary to close pending
transactions and the ability to successfully integrate businesses
compliance with environmental and other regulations, including real
estate and zoning laws; the Company's inability to obtain
financing; the Company's inability to use net operating loss carry
forwards; the Company's failure to maintain its status as a real
estate investment trust, or REIT, under the Internal Revenue Code
of 1986, as amended; and other risks and uncertainties detailed
from time to time in the Company's SEC filings. Should one or more
of these risks or uncertainties occur, or should underlying
assumptions prove incorrect, the Company's business, financial
condition, liquidity, cash flows and financial results could differ
materially from those expressed in the Company's forward-looking
statements. Any forward-looking statement speaks only as of the
date on which it is made. New risks and uncertainties arise
over time, and it is not possible for us to predict the occurrence
of those matters or the manner in which they may affect us.
The Company does not undertake to update forward-looking statements
except as may be required by law.
Contact:
Ted McHugh
Director of Investor Relations
(407) 650-0593
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SOURCE Parkway Properties, Inc.