PS Business Parks
|Traded as||NYSE: PSB
S&P 600 Component
|Headquarters||Glendale, California, United States|
|California Florida Maryland Texas Virginia Washington|
|Maria Hawthorne, CEO; Ronald L. Havner, Jr., Chairman of Board of Directors|
|Services||Property management, Acquisition, Development|
|Revenue||$374 mm US Dollars (2015)|
|$133,475 mm US Dollars (2015)|
|$130,475 mm US Dollars (2015)|
Number of employees
PS Business Parks, Inc. (NYSE:PSB) is a publicly traded full service real estate company and real estate investment trust "that acquires, develops, owns and operates flex, office and industrial properties." It has expertise in leasing, property management, acquisition and development. PS Business Parks is a member of the S&P SmallCap 600 and is a self-advised and self-managed equity real estate investment trust (“REIT”).
In December 2011, PS Business Parks Inc. purchased RREEF America LLC's portfolio of real estate in Northern California, acquiring industrial and flex property equaling 5.34 million-square-feet for $520 million. RREEF is Deutsche Asset Management's commercial real estate investment branch.
As of December 6, 2016, the Company wholly owned 28.2 million leasable square feet and worked with approximately 4,900 customers in six states: California, Texas, Virginia, Florida, Maryland and Washington. Additionally, the company manages 737,000 square feet of space on behalf of Public Storage.
- Fast Facts, PS Business Parks
- Income Statements for PSB, Yahoo, 2015, retrieved January 2, 2017
- Forbes, Laurie. PS Business Parks Buys RREEF Industrial Assets for $520M. December 27, 2011. Accessed December 30, 2011
- Plumb, Tiffany. PS Business Parks Closes on Vienna Purchase. Washington Business Journal August 4, 2010. Accessed October 7, 2010.
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