PS Business Parks acquires three flex buildings for $14.9M

theflyonthewall.com

PS Business Parks announced that it has acquired three multi-tenant flex buildings in Austin, TX, aggregating 226,000 square feet for $14.9M. The buildings, which are adjacent to parks owned by the Company, are currently 86.1% leased with an average customer size of 21,600 square feet. PS Business Parks' portfolio in Austin now totals 1.7M square feet of multi-tenant flex space comprised of nine separate business parks. Prior to this acquisition, the Company's portfolio in Austin was 95.8% leased.

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