PS Business Parks, Inc. is a publicly traded real estate investment trust that invests in office buildings and industrial properties in California, Texas, Virginia, Florida, Maryland, and Washington. As of December 31, 2017, the company owned 98 properties comprising 28.0 million rentable square feet.
Video PS Business Parks
History
The company was formed in 1990 as a division of Public Storage.
In 1998, the company was spun-off from its parent.
In 2001, the company acquired Cornell Oaks Corporate Center and 24 acres of undeveloped land near Portland, Oregon, for $87.5 million.
In 2002, the company acquired Metro Park North, a 17-building business park in Rockville, Maryland for $125 million.
In 2010, the company acquired Shady Grove Executive Center from BlackRock for $60 million, Tycon 2 and 3 in Virginia from JBG Smith for $35.4 million, and a multi-building office park in Virginia for $140 million.
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 and 8000 Westpark Drive for $27.1 million.
In 2012, the company acquired Kent Valley Industrial Park for $37.6 million.
In December 2013, the company acquired a 340,000 square foot office park in San Mateo, California for $60.5 million.
In 2014, the company sold a portfolio of industrial properties in Arizona for $53.16 million and sold Cornell Oaks Corporate Center and Creekside Corporate Park for $164.1 million.
Maps PS Business Parks
References
External links
Source of article : Wikipedia
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