SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                    FORM 8-K


                 Current Report Pursuant to Section 13 or 15(d)
                     of The Securities Exchange Act of 1934

       Date of Report (Date of earliest event reported) November 20, 2001


                             PS BUSINESS PARKS, INC.
                             -----------------------
             (Exact name of registrant as specified in its charter)


         California                    1-10709                 95-4300881
         ----------                    -------                 ----------
 (State or Other Jurisdiction  (Commission File Number)     (I.R.S. Employer
      of Incorporation)                                  Identification Number)


               701 Western Avenue, Glendale, California 91201-2397
               ---------------------------------------------------
               (Address of principal executive offices) (Zip Code)


       Registrant's telephone number, including area code: (818) 244-8080
                                                           --------------


                                       N/A
                                       ---
          (Former name or former address, if changed since last report)





ITEM 5.  Other Events

PS Business Parks,  Inc.,  through its  consolidated  partnership  (collectively
referred to as the  "Company"),  acquired 12 buildings  known as the "Prosperity
Business Campus" and 12 buildings (including 24 acres of developable land) known
as the "Cornell  Oaks  Corporate  Center" on June 1, 2001 and November 20, 2001,
respectively,  at an aggregate  purchase price of approximately  $175.9 million.
The  Company is not  affiliated  with the  sellers  and the  purchase  price was
established through arm's length negotiations. The acquisitions were funded with
the  Company's  existing  cash  balances and  borrowings of $60 million from its
unsecured line of credit with Wells Fargo Bank.

The following  table  provides  certain  information  concerning  the facilities
acquired:




         Name and                                    Date of         Property        Purchase     Net Rentable      Occupancy
         Location                    Seller          Acquisition       Type           Price       Square Footage    at Closing
--------------------------- ----------------------- ------------- --------------- -------------- ---------------- --------------
                                                                                                
Prosperity Business Campus   Olympia Properties,
  Fairfax, Virginia          L.L.C.                    6/1/01       Industrial &
                                                                      Office       $ 88,400,000       657,850          99%

Cornell Oaks Corporate       Talcott Realty I
  Center                     Limited Partnership     11/20/01       Industrial &
  Beaverton, Oregon                                                   Office         87,500,000       684,554          95%
                                                                                  -------------- ---------------- --------------
                                                                                   $175,900,000     1,342,404          97%
                                                                                  ============== ================ ==============


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Item 7. Financial Statements and Exhibits


(a)(3)   Financial Statements specified by Rule 3.14 of Regulation S-X
         -------------------------------------------------------------

         It is  impracticable  to provide at the time of filing  this  Report on
         Form 8-K any of the financial statements or the additional  information
         specified by Rule 3-14 of  Regulation  S-X as required by Item 7(a)(3).
         The required financial  information and additional  information will be
         filed by amendment as soon as practicable and, in any event,  within 60
         days after the required filing date for this Form 8-K.

(b)      Pro Forma Consolidated Financial Statements
         -------------------------------------------

         It is  impracticable  to provide at the time of filing  this  Report on
         Form 8-K any of the pro forma financial  information  required pursuant
         to  Article 11 of  Regulation  S-X as  required  by Item  7(b)(1).  The
         required  pro forma  information  will be filed by amendment as soon as
         practicable and, in any event, within 60 days after the required filing
         date for this Form 8-K.


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                                   SIGNATURES


Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.


                                                         PS BUSINESS PARKS, INC.


Date:  November 27, 2001                                   By: /S/ JACK CORRIGAN
                                                               -----------------
                                                                   Jack Corrigan
                                      Vice President and Chief Financial Officer


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