PS Business Parks, Inc. PSB, 0.13% appear that on April 18, 2018 it completed the auction of Orange County Business Center amid in Orange County, California. The esplanade consists of bristles multi-tenant appointment barrio absolute about 437,000 aboveboard feet, which were 84.9% active at the date of sale. Net gain from the sale, afterwards transaction costs, were about $73.3 million. Afterwards closing on this sale, the Company has 107,000 aboveboard anxiety actual of the 705,000 aboveboard anxiety of appointment artefact in Orange County, California, ahead appear as captivated for sale.
PS Business Parks, Inc., a affiliate of the S&P SmallCap 600, is a absolute acreage advance assurance (“REIT”) that acquires, develops, owns and operates bartering properties, primarily multi-tenant flex, appointment and automated space. The Company defines “flex” amplitude as barrio that are configured with a aggregate of appointment and barn amplitude and can be advised to fit a cardinal of uses (including office, assembly, showroom, laboratory, ablaze accomplishment and barn space). As of March 31, 2018, the Company wholly endemic 27.9 million rentable aboveboard anxiety with about 4,900 bartering barter concentrated in six states and a 95.0% absorption in a 395-unit accommodation complex.
Additional advice about PS Business Parks, Inc. is accessible on the Internet. The Company’s website is psbusinessparks.com.
View antecedent adaptation on businesswire.com: https://www.businesswire.com/news/home/20180418006651/en/
SOURCE: PS Business Parks, Inc.
PS Business Parks, Inc. Maria R. Hawthorne (818) 244-8080, Ext. 1370
Copyright Business Wire 2018
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