[WinStar to Provide Parkway Properties With State-of-the-Art Broadband Telecommunications Services]
Portfolio Includes More Than 950 Tenants in 12 States
NEW YORK--(BUSINESS WIRE)--June 14, 1999--WINSTAR COMMUNICATIONS, INC. today announced an agreement under which WinStar will provide advanced high-speed communications capabilities to the properties owned by PARKWAY PROPERTIES, INC. (NYSE:PKY), a Real Estate Investment Trust (REIT) with properties throughout the Southeast and Texas.
Under the agreement, more than 950 commercial tenants will gain access to WinStar's fixed wireless broadband network. Parkway's portfolio includes 52 buildings in 12 states, covering WinStar markets such as Atlanta, Houston and St. Petersburg. In the last month, WinStar has announced agreements to provide a wide range of telecommunications services to three REITS with more than 800 buildings in major markets across the country.
"Parkway's commercial tenants are demanding high-quality, affordable broadband services at the most competitive prices," said Jack Sullenberger, Parkway's Senior Vice President of Technical Services. "This agreement with WinStar allows us to better serve our customers and provides us with the opportunity to differentiate our buildings from the competition. Additionally, the agreement creates value for our shareholders by generating a new revenue source. This is a great stride toward recognizing our 5 in 50 PLAN goals."
WinStar works with commercial building owners and managers to provide tenants with a range of state-of-the-art telecommunications services through its national broadband network. Buildings can be quickly connected to WinStar's fixed wireless network, giving tenants swift access to a wider choice of providers for local and long distance phone service, Internet, video conferencing, data applications and other advanced telecommunications and data services.
"As businesses' communications needs become more complex, there is an increasing demand for broadband services," said Rick Uhl, president of WinStar for Buildings. "By providing a high-quality, cost-efficient alternative to traditional phone companies, WinStar is well positioned to meet the needs of customers in buildings such as those owned and operated by Parkway Properties."
Parkway Properties, Inc. is a self-administered real estate investment trust specializing in the acquisition, ownership, management and leasing of office properties in the Southeast and Texas. As of June 10, 1999, Parkway owned or had an interest in 52 office properties located in 12 states with an aggregate of approximately 6,943,000 square feet of leasable space.
Apex Site Management, Inc. represented Parkway Properties in this non-exclusive agreement as part of Parkway's initiative to bring the highest quality telecommunications services to its tenant base. Apex provides comprehensive telecommunications management services for Parkway Properties. |
