PS Business Parks, Inc. Promotes Maria Hawthorne to Executive Vice President, East Coast

PS Business Parks, Inc. (NYSE:PSB) announced that Maria R. Hawthorne has been promoted to Executive Vice President, East Coast. Ms. Hawthorne, who has been with the Company and its predecessors for 25 years, most recently served as Senior Vice President, East Coast, with responsibility for PS Business Parks’ operations in Northern Virginia, Maryland and South Florida. In her tenure with the Company, Ms. Hawthorne has held several positions, both on the West and East Coasts. Most recently, she has lead the Company’s efforts to expand into South Florida, while also growing in the Washington Metro area. In total, Ms. Hawthorne is responsible for 9.7 million square feet of assets which represents approximately 46% of PS Business Parks’ portfolio.

Joseph D. Russell, Jr., President and CEO of PS Business Parks, commented, "I want to congratulate Maria Hawthorne on her promotion to Executive Vice President, East Coast. Maria has been a key leader within PS Business Parks, as well as in our East Coast markets. Maria set the foundation for our expansion into South Florida several years ago, while also playing a key leadership role in the Company’s expansion in Washington Metro, our largest single market. I look forward to Maria’s continued contributions to PSB as she leads our efforts on the East Coast.”

Company Information

PS Business Parks, Inc., a member of the S&P SmallCap 600, is a self-advised and self-managed equity real estate investment trust that acquires, develops, owns and operates commercial properties, primarily multi-tenant flex, office and industrial space. The Company defines "flex” space as buildings that are configured with a combination of office and warehouse space and can be designed to fit a number of uses (including office, assembly, showroom, laboratory, light manufacturing and warehouse space). As of December 31, 2010, PSB wholly owned 21.8 million rentable square feet with approximately 4,100 customers located in eight states, concentrated in California (5.8 million sq. ft.), Virginia (4.0 million sq. ft.), Florida (3.7 million sq. ft.), Texas (3.4 million sq. ft.), Maryland (2.4 million sq. ft.), Oregon (1.3 million sq. ft.), Arizona (0.7 million sq. ft.) and Washington (0.5 million sq. ft.).

Additional information about PS Business Parks, Inc. is available on the Internet. The Company’s website is www.psbusinessparks.com.