PS Business Parks makes big Austin purchase

4/22/2010
Info from Austin Business Journal

California-based PS Business Parks Inc. has purchased 704,000 sf of local commercial real estate worth $42.9 million. The cash deal includes three business parks with multitenant flex space in 13 single-story buildings. The entire portfolio is about 88 percent leased, with an average of 15,900 sf per contract. With this purchase, PS Business Parks now owns about 1.5 million sf of multitenant flex space in nine Austin business parks.