PARKWAY CO/TX
8-K, 1995-07-14
OPERATORS OF NONRESIDENTIAL BUILDINGS
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                   SECURITIES AND EXCHANGE COMMISSION
                         WASHINGTON, D.C.  20549
                 ---------------------------------------
 
                              FORM 8-K


                            CURRENT REPORT


                     Pursuant to Section 13 or 15(d)
                               of the
                    Securities Exchange Act of 1934


Date of Report (Date of earliest event reported):  July 7, 1995
                                                  ---------------



                     THE PARKWAY COMPANY
- -----------------------------------------------------------------
       (Exact name of Registrant as specified in its charter)
                                

Texas                       0-12505                  74-2123597
- -----------------------------------------------------------------
(State or other       Commission File Number      (IRS Employer
 jurisdiction of                                   Identification
 incorporation)                                        Number)

300 One Jackson Place, 188 E. Capitol St., Jackson, MS  39201
- -----------------------------------------------------------------
(Address of principal executive offices)              (Zip Code)
     

Registrant's telephone number, including area code:(601)948-4091
                                                   -------------

- -----------------------------------------------------------------
  (Former name or former address, if changed since last report)







                            FORM 8-K
                                
                       THE PARKWAY COMPANY
                                
Item 5.   Other Events.

          On  July  7, 1995, the option contract that One Jackson
          Place,  Ltd.  had entered into to sell the One  Jackson
          Place  office  building  to  an  unrelated  party   was
          terminated.  The prospective purchaser had no funds  at
          risk  in  the  transaction.  One  Jackson  Place  is  a
          fourteen  story office building in the central business
          district of Jackson, Mississippi consisting of  217,991
          net  rentable  square  feet and  is  100%  leased.  The
          Parkway  Company owns an effective 73.125% interest  in
          the  One Jackson Place office building by virtue of its
          indirect  ownership of the partnership which  owns  the
          building.







                            SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act
of 1934, the Registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.

DATED:  July 13, 1995

                               THE PARKWAY COMPANY



                                BY:  /s/ Sarah P. Clark
                                   ------------------------------
                                   Sarah P. Clark, Vice President
                                   and Chief Financial Officer



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