PS Business Parks

PS Business Parks, Inc. is a publicly traded real estate investment trust that acquires, develops, owns and operates commercial properties, primarily multi-tenant industrial, flex and office space. It owns over 27.6 million rentable square feet in California, Texas, Virginia, Florida, Maryland and Washington state and holds a 95% interest in a 395-unit apartment complex.

PS Business Parks, Inc.
TypePublic company
NYSE: PSB
S&P 400 Component
IndustryReal estate investment trust
Founded1990 (1990)
Headquarters
Key people
Maria R. Hawthorne, CEO
Ronald L. Havner, Jr., Chairman
ProductsOffice buildings
Revenue $429 million (2019)
$108 million (2019)
Total assets $2.046 billion (2019)
Total equity $1.961 billion (2019)
Number of employees
155 (2019)
Websitewww.psbusinessparks.com
Footnotes / references
[1]

History

The company was formed in 1990 as a division of Public Storage.[1]

In 1998, the company was spun-off from its parent.[2]

In 2002, the company acquired Metro Park North, a 17-building business park in Rockville, Maryland for $125 million.[3]

In 2011, the company purchased a 5.34 million-square-foot industrial and flex portfolio in Northern California from a subsidiary of Deutsche Bank for $520 million.[4]

In 2018, the company acquired a portfolio of industrial properties in Northern Virginia for $143 million.[5]

References

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