PS Business Parks Acquires Dallas Industrial Development for $123M

DALLAS — California-based REIT PS Business Parks Inc. (NYSE: PSB) has acquired Port America, a 717,735-square-foot industrial development in Dallas, for $123 million. Port America, which is located near Dallas-Fort Worth International Airport, consists of eight buildings that were 96 percent leased at the time of sale. The average tenant suite is 8,000 square feet. The seller was not disclosed.

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