PS Business Parks

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PS Business Parks
Public
Traded as NYSEPSB
S&P 600 Component
Industry Real estate
Founded 1986
Headquarters Glendale, California, United States
Area served
California Florida Maryland Texas Virginia Washington
Key people
Maria Hawthorne, CEO; Ronald L. Havner, Jr., Chairman of Board of Directors
Services Property management, Acquisition, Development
Revenue Increase $374 mm US Dollars (2015)[1]
Increase $133,475 mm US Dollars (2015)[2]
Increase $130,475 mm US Dollars (2015)[2]
Number of employees
175[1]
Website PSbusinessparks.com

PS Business Parks, Inc. (NYSE:PSB) is a publicly traded full service real estate company[1] and real estate investment trust "that acquires, develops, owns and operates flex, office and industrial properties."[3] 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”).

Portfolio[edit]

In 2010, the company acquired several properties in Virginia.[4]

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.[3]

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.[citation needed]

See also[edit]

References[edit]

  1. ^ a b c Fast Facts, PS Business Parks 
  2. ^ a b Income Statements for PSB, Yahoo, 2015, retrieved January 2, 2017 
  3. ^ a b Forbes, Laurie. PS Business Parks Buys RREEF Industrial Assets for $520M. December 27, 2011. Accessed December 30, 2011
  4. ^ Plumb, Tiffany. PS Business Parks Closes on Vienna Purchase. Washington Business Journal August 4, 2010. Accessed October 7, 2010.

External links[edit]