PS Business Parks announces acquisition of Port America in Texas

PS Business Parks has completed the acquisition of Port America, a 717,735-square-foot multi-tenant industrial park located in Dallas, for a total purchase price of $123 million.

Port America consists of 15 buildings with an average customer size of 8,000 square feet and was approximately 96 percent occupied at closing. The park is strategically located immediately adjacent to DFW International Airport on fee-simple land. The park is uniquely positioned to provide institutional-quality industrial space to small- and medium-size users seeking a premium location, 26-foot clear heights, ample dock loading, and access to key freeways serving DFW Airport and the Dallas Metroplex. The park is complementary to PSB’s existing Dallas industrial and flex portfolio totaling 3.0 million square feet.

“Port America fits perfectly with our small bay industrial investment strategy. The combination of dock-served suites averaging 8,000 square feet, fee simple land in an irreplaceab