California-based PS Business Parks Inc. has purchased the 717,000-square foot Port America industrial campus for $123 million, according to a statement from the company. 

Port America Industrial Park is a 717,735-square-foot multi-tenant industrial park located immediately adjacent to DFW International Airport, the statement confirmed. 

"Port America fits perfectly with our small bay industrial investment strategy," Mac Chandler, said president and CEO of PS Business Parks in the statement. "The combination of dock-served suites averaging 8,000 square feet, fee-simple land in an irreplaceable location and our best-in-class local operating platform should result in strong long-term growth for our stockholders." 

Port America has 15 buildings with an average customer size of 8,000 square feet, the PS statement said, and was about 96% occupied at the closing of the deal.

PS Business Parks Inc., a S&P MidCap 400 company, is a REIT that acquires, develops, owns and operates commercial properties, predominantly multi-tenant industrial, industrial-flex, and low-rise suburban office, according to its statement.