|PS Business Parks, Inc. (PSB) is an integrated, self-advised and self-managed real estate investment trust (REIT) that owns, operates acquires, and develops commercial properties, primarily multi-tenant flex, office and industrial space. PS Business Parks, L.P. (the Operating Partnership) is a California limited partnership, which owns directly or indirectly all of its assets and through which PSB conduct all of its business. PSB is the sole general partner of the Operating Partnership and, as of December 31, 2011, owned 76.8% of the common partnership units. The remaining common partnership units are owned by Public Storage (PS). As of December 31, 2011, the Company owned and operated 27.2 million rentable square feet of commercial space, comprising 102 business parks, located in eight states: Arizona, California, Florida, Maryland, Oregon, Texas, Virginia and Washington. In July 2012, it acquired 212th Business Park, a 958,000 square foot industrial park situated on 52 acres.