PS Business Parks, Inc. (NYSE: PSB) is a publicly traded full service real estate company with expertise in leasing, property management, acquisition and development. As of November 2013 the Company owned and operated approximately 29.7 million rentable square feet of commercial space located in eight states: Arizona, California, Florida, Maryland, Oregon, Texas, Virginia, and Washington. The Company also manages approximately 1.2 million rentable square feet on behalf of Public Storage, Inc. and its affiliated entities.
PS Business Parks was organized in 1986 as a division of a predecessor of Public Storage. Since becoming public in 1998, PS Business Parks’ portfolio has grown from 5 million square feet by applying a disciplined investment approach. We have focused on “flex” properties that can be easily configured to suit a variety of uses and are located in high population growth markets near decision maker housing. This property type supports a wide variety of uses and customers.
In each of the markets where we own properties we hire a professional team of skilled local real estate experts who are empowered to make ownership decisions and motivated to provide a high level of service to our customers.
The Company’s investment objective is to maximize shareholder value by achieving long-term growth in net asset value per share. Key elements of PS Business Parks’ growth strategy include: maximizing portfolio cash flow, maintaining focus on core markets, acquiring and developing well positioned quality properties where valuations are justified, continuing to attract a diversified tenant base, developing new tenant services and providing superior tenant service.SIGN UP FOR EMAIL NOTIFICATION OF NEWS RELEASES