Power Out for PS Business Parks in Florida

PS Business Parks Inc.’s three properties in Florida had no electrical power but were open and operating late Monday, according to the company. The Glendale real estate investment trust has three parks in Florida with 69 buildings, 3.87 million square feet of space and 575 tenants. Hurricane Irma impacted all three parks, located in Miami, Boca Raton and Wellington. Cleanup and repairs started Monday, and the company has established two hotlines for customers impacted by Irma. “Our thoughts are with our employees, customers and communities impacted by the hurricane. Our first priority is their safety. We are working diligently to assess the damage and provide assistance where needed,” Chief Executive Maria Hawthorne said in a statement. Shares of PS Business Parks (PSB) closed Tuesday down $2.25, or 1.7 percent, to $133.88 on the New York Stock Exchange.