Khan previously served as chief financial officer at Rexford Industrial Realty in Los Angeles for seven years.
The current chief financial officer at PS Business Parks, Jeffrey Hedges, will serve as a consultant for the Glendale-based a real estate investment trust until February 2022 as a means of facilitating the transition to Khan.
“Adeel brings extensive executive leadership, real estate, REIT and financial experience, and we look forward to working with Adeel to capitalize on the many opportunities ahead of us,” Mac Chandler, PS’s chief executive, said in a statement. “We also thank Jeff for his outstanding service as our CFO since 2018. He provided tremendous leadership and helped deliver strong results in one of the most difficult operating environments in our company’s history.”
Shares of PS Business Parks (PSB) closed up 12 cents, or a fraction of a percent, to $166.27 on the Nasdaq Monday, a day when the market closed down more than half a percent.