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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 LpnyziQ676/dxneQxzXDkVqLutj7Jx8WV5EstO2EB2VOztT3wvlC9sYTrzha5UfH
 sBddIj1fey9qgj64w0IyYA==

<SEC-DOCUMENT>0000729237-09-000040.txt : 20090515
<SEC-HEADER>0000729237-09-000040.hdr.sgml : 20090515
<ACCEPTANCE-DATETIME>20090515164836
ACCESSION NUMBER:		0000729237-09-000040
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20090514
FILED AS OF DATE:		20090515
DATE AS OF CHANGE:		20090515

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			LIPSEY MICHAEL J
		CENTRAL INDEX KEY:			0001222019

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11533
		FILM NUMBER:		09833988

	MAIL ADDRESS:	
		STREET 1:		686 HUNT CLUB BLVD SUITE 140
		CITY:			LONGWOOD
		STATE:			FL
		ZIP:			32779

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PARKWAY PROPERTIES INC
		CENTRAL INDEX KEY:			0000729237
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				742123597
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		ONE JACKSON PL
		STREET 2:		188 E CAPITOL ST STE 1000
		CITY:			JACKSON
		STATE:			MS
		ZIP:			39225-4647
		BUSINESS PHONE:		6019484091

	MAIL ADDRESS:	
		STREET 1:		ONE JACKSON PL P O BOX 24647
		STREET 2:		188 E CAPITOL ST STE 1000
		CITY:			JACKSON
		STATE:			MS
		ZIP:			39225

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PARKWAY CO
		DATE OF NAME CHANGE:	19951018
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>mlipsey.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2009-05-14</periodOfReport>

    <issuer>
        <issuerCik>0000729237</issuerCik>
        <issuerName>PARKWAY PROPERTIES INC</issuerName>
        <issuerTradingSymbol>PKY</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001222019</rptOwnerCik>
            <rptOwnerName>LIPSEY MICHAEL J</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>237 NORTH HUNTCLUB BOULEVARD</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 101</rptOwnerStreet2>
            <rptOwnerCity>LONGWOOD</rptOwnerCity>
            <rptOwnerState>FL</rptOwnerState>
            <rptOwnerZipCode>32779</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2009-05-14</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>600</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>600</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>5359</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Lipsey Real Estate Fund</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Annual retainer share award pursuant to the 2001 Non-Employee Directors Equity Compensation Plan, as amended.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Sarah P Clark, Attorney in fact for  Michael J Lipsey</signatureName>
        <signatureDate>2009-05-15</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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