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PS Business Parks acquires three multi tenant flex buildings in Texas for USD14.9m

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Dec 20, 2012 (M2 EQUITYBITES via COMTEX) -- PS Business Parks Inc (NYSE:PSB), a real estate investment trust, has acquired three multi-tenant flex buildings in Austin, Texas for USD14.9m, it revealed on Wednesday.

The buildings, with an aggregate of 226,000 sq ft, are adjacent to parks owned by the company and are currently 86.1% leased. The company said its total portfolio in Austin now totals 1.7m sq ft of multi-tenant flex space consisting of nine separate business parks.

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