WASHINGTON, DC-PS Business Parks Inc., a Glendale-based REIT, has bought a portion of a multi-tenant office park situated in Tysons Corner, Virginia, near Washington, DC. The REIT purchased the property for a total amount of $140 million.
The REIT acquired the 738,000-square-foot, seven-building complex, which sits on a 40-acre land, from New York City-based DLJ Real Estate Capital Partners. PS Business Parks now owns multi-tenant office/flex space measuring 6.4 million square feet in the Washington Metro market. For the full story, go to Los Angeles Business Journal.
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