Company:PS Business Parks
 | |
| Type | Public company |
|---|---|
| NYSE: PSB S&P 400 Component | |
| Industry | Real estate investment trust |
| Founded | 1990 |
| Headquarters | Glendale, California, U.S. |
Key people | Mac Chandler, CEO Ronald L. Havner, Jr., Chairman |
| Products | Real Estate |
| Revenue |  $429 million (2019) |
| $108 million (2019) | |
| Total assets |  $2.046 billion (2019) |
| Total equity | $1.961 billion (2019) |
Number of employees | 155 (2019) |
| Website | www |
| Footnotes / references [1] | |
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. Located primarily in major coastal markets, PS Business Parks’ 97 properties serve approximately 5,000 tenants, in 28 million square feet across California , Texas , Virginia, Florida, Maryland and Washington (state) . The portfolio also includes 800 residential units (inclusive of units in-process) in Tysons, Virginia.
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
- ↑ 1.0 1.1 "PS Business Parks, Inc. 2019 Form 10-K Annual Report". U.S. Securities and Exchange Commission. https://www.sec.gov/ix?doc=/Archives/edgar/data/866368/000086636820000005/psb-20191231x10k.htm.
- ↑ FULMER, MELINDA (March 17, 1998). "Public Storage Spins Off Office Holdings Into REIT". Los Angeles Times. https://www.latimes.com/archives/la-xpm-1998-mar-17-fi-29633-story.html.
- ↑ Kehaulani Goo, Sara (February 25, 2002). "Prince George's Office Market Expands". The Washington Post. https://www.washingtonpost.com/archive/business/2002/02/25/prince-georges-office-market-expands/4c12eb2e-aaa8-4ba7-b943-148a34b6c0a3/.
- ↑ "PSB buys $520M industrial portfolio from RREEF". American City Business Journals. December 21, 2011. https://www.bizjournals.com/sanfrancisco/morning_call/2011/12/psb-buys-520m-industrial-portfolio.html.
- ↑ Banister, Jon (June 11, 2018). "PS Business Parks Pays $143M For NoVa Industrial Portfolio". Bisnow Media. https://www.bisnow.com/washington-dc/news/industrial/ps-business-parks-pays-143m-for-nova-industrial-portfolio-89401.
External links
- Business data for PS Business Parks, Inc.:
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