PS Business Parks Posts Net Income Gain

PS Business Parks Inc. in Glendale reported net income for the fourth quarter ended Dec. 31 of $9.6 million, compared with $8.3 million for the fourth quarter of fiscal 1998. Revenues rose to $34.8 million from $27.3 million. For the year ended Dec. 31, net income rose to $37.8 million from $29.4 million. Revenues climbed to $128.6 million from $90.3 million.

PS Business Parks is a real estate trust that acquires and develops commercial properties.