{"id":1004662137,"date":"2023-05-11T02:06:52","date_gmt":"2023-05-11T10:06:52","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004662137"},"modified":"2023-05-11T05:06:10","modified_gmt":"2023-05-11T13:06:10","slug":"parkway-midway-to-merge","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/parkway-midway-to-merge\/","title":{"rendered":"Parkway, Midway to Merge"},"content":{"rendered":"\n<div class=\"wp-block-jetpack-slideshow aligncenter\" data-effect=\"slide\"><div class=\"wp-block-jetpack-slideshow_container swiper-container\"><ul class=\"wp-block-jetpack-slideshow_swiper-wrapper swiper-wrapper\"><li class=\"wp-block-jetpack-slideshow_slide swiper-slide\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"2000\" height=\"1333\" alt=\"\" class=\"wp-block-jetpack-slideshow_image wp-image-1004662151\" data-id=\"1004662151\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/Parkways-1111-Brickell-in-Miami.-Image-courtesy-of-Parkway.jpg?w=1024\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/Parkways-1111-Brickell-in-Miami.-Image-courtesy-of-Parkway.jpg 2000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/Parkways-1111-Brickell-in-Miami.-Image-courtesy-of-Parkway.jpg?resize=300,200 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/Parkways-1111-Brickell-in-Miami.-Image-courtesy-of-Parkway.jpg?resize=768,512 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/Parkways-1111-Brickell-in-Miami.-Image-courtesy-of-Parkway.jpg?resize=1024,682 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/Parkways-1111-Brickell-in-Miami.-Image-courtesy-of-Parkway.jpg?resize=1536,1024 1536w\" sizes=\"(max-width: 2000px) 100vw, 2000px\" \/><figcaption class=\"wp-block-jetpack-slideshow_caption gallery-caption\">Parkway&#8217;s 1111 Brickell in Miami. Image courtesy of Parkway<\/figcaption><\/figure><\/li><li class=\"wp-block-jetpack-slideshow_slide swiper-slide\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"2000\" height=\"1333\" alt=\"\" class=\"wp-block-jetpack-slideshow_image wp-image-1004662148\" data-id=\"1004662148\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/CITYCENTRE-in-Houston.-Image-courtesy-of-Midway.jpg?w=1024\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/CITYCENTRE-in-Houston.-Image-courtesy-of-Midway.jpg 2000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/CITYCENTRE-in-Houston.-Image-courtesy-of-Midway.jpg?resize=300,200 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/CITYCENTRE-in-Houston.-Image-courtesy-of-Midway.jpg?resize=768,512 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/CITYCENTRE-in-Houston.-Image-courtesy-of-Midway.jpg?resize=1024,682 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/CITYCENTRE-in-Houston.-Image-courtesy-of-Midway.jpg?resize=1536,1024 1536w\" sizes=\"(max-width: 2000px) 100vw, 2000px\" \/><figcaption class=\"wp-block-jetpack-slideshow_caption gallery-caption\">CITYCENTRE in Houston. Image courtesy of Midway<\/figcaption><\/figure><\/li><li class=\"wp-block-jetpack-slideshow_slide swiper-slide\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"2000\" height=\"1598\" alt=\"\" class=\"wp-block-jetpack-slideshow_image wp-image-1004662149\" data-id=\"1004662149\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/East-River-Bayou-front-and-walking-trail-in-Houston.-Rendering-courtesy-of-Midway.jpg?w=1024\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/East-River-Bayou-front-and-walking-trail-in-Houston.-Rendering-courtesy-of-Midway.jpg 2000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/East-River-Bayou-front-and-walking-trail-in-Houston.-Rendering-courtesy-of-Midway.jpg?resize=300,240 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/East-River-Bayou-front-and-walking-trail-in-Houston.-Rendering-courtesy-of-Midway.jpg?resize=768,614 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/East-River-Bayou-front-and-walking-trail-in-Houston.-Rendering-courtesy-of-Midway.jpg?resize=1024,818 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/East-River-Bayou-front-and-walking-trail-in-Houston.-Rendering-courtesy-of-Midway.jpg?resize=1536,1227 1536w\" sizes=\"(max-width: 2000px) 100vw, 2000px\" \/><figcaption class=\"wp-block-jetpack-slideshow_caption gallery-caption\">East River Bayou &#8211; front and walking trail in Houston. Rendering courtesy of Midway<\/figcaption><\/figure><\/li><li class=\"wp-block-jetpack-slideshow_slide swiper-slide\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"3600\" height=\"2400\" alt=\"\" class=\"wp-block-jetpack-slideshow_image wp-image-1004662150\" data-id=\"1004662150\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/Kirby-Grove.-Image-courtesy-of-Midway.jpg?w=1024\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/Kirby-Grove.-Image-courtesy-of-Midway.jpg 3600w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/Kirby-Grove.-Image-courtesy-of-Midway.jpg?resize=300,200 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/Kirby-Grove.-Image-courtesy-of-Midway.jpg?resize=768,512 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/Kirby-Grove.-Image-courtesy-of-Midway.jpg?resize=1024,683 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/Kirby-Grove.-Image-courtesy-of-Midway.jpg?resize=1536,1024 1536w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/Kirby-Grove.-Image-courtesy-of-Midway.jpg?resize=2048,1365 2048w\" sizes=\"(max-width: 3600px) 100vw, 3600px\" \/><figcaption class=\"wp-block-jetpack-slideshow_caption gallery-caption\">Kirby Grove. Image courtesy of Midway<\/figcaption><\/figure><\/li><\/ul><a class=\"wp-block-jetpack-slideshow_button-prev swiper-button-prev swiper-button-white\" role=\"button\"><\/a><a class=\"wp-block-jetpack-slideshow_button-next swiper-button-next swiper-button-white\" role=\"button\"><\/a><a aria-label=\"Pause Slideshow\" class=\"wp-block-jetpack-slideshow_button-pause\" role=\"button\"><\/a><div class=\"wp-block-jetpack-slideshow_pagination swiper-pagination swiper-pagination-white\"><\/div><\/div><\/div>\n\n\n<p><strong>Parkway Property Investments LLC<\/strong>, of Orlando, Fla., and <strong>Midway Holdings LP<\/strong>, of Houston, have entered into a definitive agreement under which they will form a new, fully diversified real estate investment, operations and management firm.<\/p>\n<p>In a prepared statement, the two privately owned companies stated that they will together ramp up investment, ownership and operations across the Sun Belt and beyond.<\/p>\n<p>Given that Midway is concentrated in Texas, while Parkway has been operating widely across the Sun Belt, the new firm will function under \u201ca refreshed Parkway brand.\u201d Midway reportedly will continue to operate as a separate development entity under its own name and current management and will act as the combined company\u2019s development partner.<\/p>\n<h2>Expanded services<\/h2>\n<p>The new company will have a total of 45 million square feet of assets under management, including developments in progress, and will offer a wide range of commercial real estate services, including acquisitions and dispositions, asset management, investment and development\u2014in partnership with Midway\u2014property operations and management, construction management, REIT compliance and governance, strategic leasing and advisory, as well as portfolio repositioning.<\/p>\n<p>Between them, Parkway and Midway have more than 100 years of experience. The newly combined firm will employ about 300 personnel and will be headquartered in Houston. The full integration of the Parkway and Midway teams is being targeted for the third quarter.<\/p>\n<p>Midway Chairman &amp; CEO Bradley Freels and Parkway Chairman James Heistand will serve as co-executive chairmen of the new firm&#8217;s board, while Parkway CEO Jayson Lipsey and Midway President Jamie Bryant will serve as co-CEOs. The remainder of the leadership team will include executives from both entities. A. Noni Holmes-Kidd will serve as chief legal officer, Matt Mooney as COO, John Kosciulek as CFO and Pam Jesse as chief people officer.<\/p>\n<h2>Midway\u2019s mixed-use makeover<\/h2>\n<p>Last October, Midway unveiled plans to <a href=\"https:\/\/www.commercialsearch.com\/news\/midway-to-repurpose-1-3-msf-houston-office-campus\/\">redevelop the 70-acre former ConocoPhillips corporate headquarters<\/a> in Houston into a 1.3 million-square-foot mixed-use project called Watermark District at Woodcreek.<\/p>\n<p>The site, along Interstate 10 in the Katy Freeway West submarket, will eventually encompass luxury multifamily residences, high-end retail space, a boutique hotel and 650,000 square feet of premier office space.<\/p>","protected":false},"excerpt":{"rendered":"<p>The combined company will have 45 million square feet under management.<\/p>\n","protected":false},"author":882,"featured_media":1004662151,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,1589,21783,21742,1493,32781,51973],"tags":[47846,33073],"class_list":["post-1004662137","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-houston","category-investment","category-latest","category-orlando","category-southeast","category-southwest","tag-midway-companies","tag-parkway-properties-inc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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