PS Business Parks to sell business park for $315m

Longfellow Real Estate Partners has acquired Lusk Business Park, located in the Sorrento Mesa submarket of San Diego, Calif., for $315.4 million. The seller was PS Business Parks.  

Mac Chandler, president and CEO at PS Business Parks, said, “Our infill 20.6 acre Lusk property with its 1.8 million square feet of zoned life science development potential is an extremely valuable asset. This accretive transaction will allow us to realize significant value for our stockholders.” 

The asset totals 370,000 square feet across nine buildings. The campus also includes retail and laboratory space. The property also include