Parkway Properties Inks Two Leases for 38,000 SF

HOUSTON-Parkway Properties Inc. has added two new tenants to its class A office building at 1401 Enclave Pkwy. in the Energy Corridor. Chemical Market Associates Inc. signed a 10-year lease for 26,000 square feet, and Callon Petroleum Co. signed a 10-year new lease for 12,000 square feet.

The new tenants will backfill a large portion of space Parkway Properties got back last year, according to Mike Fransen, vice president and asset manager for Parkway Properties’ local portfolio. The Jackson, MS-based REIT has owned 1401 Enclave Pkwy. since 2007, and it underwrote the 209,000-square-foot office building with the expectation that Parker Drilling would vacate 52,000 square feet – the entire fifth and sixth floors – when it relocated to Greenway Plaza.