Industry Real estate Number of employees 175 | Founded 1986 Type of business Public | |
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Traded as NYSE: PSBS&P 600 Component Key people Maria Hawthorne, CEO; Ronald L. Havner, Jr., Chairman of Board of Directors Services Property management, Acquisition, Development Revenue $374 mm US Dollars (2015) Stock price PSB (NYSE) US$ 113.03 +0.86 (+0.77%)17 Mar, 4:02 PM GMT-4 - Disclaimer Subsidiaries PS Business Parks, L.P. Profiles | ||
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”).
Portfolio
In 2010, the company acquired several properties in Virginia.
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.