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<!--Created on: 5/1/2014 3:29:25 PM-->
<!--Modified on: 5/1/2014 3:29:25 PM-->
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SecuredDebt" xlink:to="us-gaap_SecuredDebt_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SecuredDebt_lbl" xml:lang="en-US">Secured Debt</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SecuredDebt_lbl" xml:lang="en-US">Mortgage notes payable</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_Liabilities" xlink:label="us-gaap_Liabilities" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Liabilities" xlink:to="us-gaap_Liabilities_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Liabilities_lbl" xml:lang="en-US">Total liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_Liabilities_lbl" xml:lang="en-US">Total liabilities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommitmentsAndContingencies" xlink:label="us-gaap_CommitmentsAndContingencies" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsAndContingencies" xlink:to="us-gaap_CommitmentsAndContingencies_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommitmentsAndContingencies_lbl" xml:lang="en-US">Commitments And Contingencies 2009</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommitmentsAndContingencies_lbl" xml:lang="en-US">Commitments and contingencies</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockholdersEquityAbstract" xlink:label="us-gaap_StockholdersEquityAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityAbstract" xlink:to="us-gaap_StockholdersEquityAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityAbstract_lbl" xml:lang="en-US">Stockholders Equity Note Abstract</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockholdersEquityAbstract_lbl" xml:lang="en-US">PS Business Parks, Inc.'s shareholders' equity:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockValue" xlink:label="us-gaap_PreferredStockValue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockValue" xlink:to="us-gaap_PreferredStockValue_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockValue_lbl" xml:lang="en-US">Preferred stock, $0.01 par value, 50,000,000 shares authorized, 22,877 and 25,042 shares issued and outstanding at September 30, 2010 and December 31, 2009, respectively</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PreferredStockValue_lbl" xml:lang="en-US">Preferred stock, $0.01 par value, 50,000,000 shares authorized, 39,800 shares issued and outstanding at March 31, 2014 and December 31, 2013</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockValue" xlink:label="us-gaap_CommonStockValue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockValue" xlink:to="us-gaap_CommonStockValue_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockValue_lbl" xml:lang="en-US">Common stock, $0.01 par value, 100,000,000 shares authorized, 24,619,482 and 24,399,509 shares issued and outstanding at September 30, 2010 and December 31, 2009, respectively</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockValue_lbl" xml:lang="en-US">Common stock, $0.01 par value, 100,000,000 shares authorized, 26,896,136 and 26,849,822 shares issued and outstanding at March 31, 2014 and December 31, 2013, respectively</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AdditionalPaidInCapital" xlink:label="us-gaap_AdditionalPaidInCapital" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdditionalPaidInCapital" xlink:to="us-gaap_AdditionalPaidInCapital_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdditionalPaidInCapital_lbl" xml:lang="en-US">Additional Paid in Capital</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AdditionalPaidInCapital_lbl" xml:lang="en-US">Paid-in capital</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RetainedEarningsAccumulatedDeficit" xlink:to="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" xml:lang="en-US">Retained Earnings Accumulated Deficit</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" xml:lang="en-US">Cumulative net income</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_TotalCumulativeDistributions" xlink:label="psb_TotalCumulativeDistributions" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_TotalCumulativeDistributions" xlink:to="psb_TotalCumulativeDistributions_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_TotalCumulativeDistributions_lbl" xml:lang="en-US">Cumulative preferred stock and common stock cash dividend declared by the Company. Includes issuance costs related to preferred equity recognized upon redemption/repurchase.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_TotalCumulativeDistributions_lbl" xml:lang="en-US">Total Cumulative distributions</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="us-gaap_StockholdersEquity" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_StockholdersEquity_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquity_lbl" xml:lang="en-US">Stockholders' equity PS</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NoncontrollingInterestItemsAbstract" xlink:label="us-gaap_NoncontrollingInterestItemsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NoncontrollingInterestItemsAbstract" xlink:to="us-gaap_NoncontrollingInterestItemsAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NoncontrollingInterestItemsAbstract_lbl" xml:lang="en-US">Noncontrolling interests:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MinorityInterestInOperatingPartnerships" xlink:label="us-gaap_MinorityInterestInOperatingPartnerships" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinorityInterestInOperatingPartnerships" xlink:to="us-gaap_MinorityInterestInOperatingPartnerships_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MinorityInterestInOperatingPartnerships_lbl" xml:lang="en-US">Common units</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MinorityInterest" xlink:label="us-gaap_MinorityInterest" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinorityInterest" xlink:to="us-gaap_MinorityInterest_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MinorityInterest_lbl" xml:lang="en-US">Total noncontrolling interests</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_MinorityInterest_lbl" xml:lang="en-US">Total noncontrolling interests</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:label="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:to="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_lbl" xml:lang="en-US">Total equity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_lbl" xml:lang="en-US">Balances, value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_lbl" xml:lang="en-US">Balances, value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_lbl" xml:lang="en-US">Total equity</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="us-gaap_LiabilitiesAndStockholdersEquity_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xml:lang="en-US">Total liabilities and equity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xml:lang="en-US">Total liabilities and equity</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockParOrStatedValuePerShare" xlink:label="us-gaap_PreferredStockParOrStatedValuePerShare" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockParOrStatedValuePerShare" xlink:to="us-gaap_PreferredStockParOrStatedValuePerShare_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockParOrStatedValuePerShare_lbl" xml:lang="en-US">Preferred stock, par value</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockSharesAuthorized" xlink:label="us-gaap_PreferredStockSharesAuthorized" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockSharesAuthorized" xlink:to="us-gaap_PreferredStockSharesAuthorized_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockSharesAuthorized_lbl" xml:lang="en-US">Preferred stock, shares authorized</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockSharesIssued" xlink:label="us-gaap_PreferredStockSharesIssued" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockSharesIssued" xlink:to="us-gaap_PreferredStockSharesIssued_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockSharesIssued_lbl" xml:lang="en-US">Preferred stock, shares issued</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockSharesOutstanding" xlink:label="us-gaap_PreferredStockSharesOutstanding" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockSharesOutstanding" xlink:to="us-gaap_PreferredStockSharesOutstanding_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockSharesOutstanding_lbl" xml:lang="en-US">Preferred stock, shares outstanding</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PreferredStockSharesOutstanding_lbl" xml:lang="en-US">Shares Outstanding</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockParOrStatedValuePerShare" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockParOrStatedValuePerShare" xlink:to="us-gaap_CommonStockParOrStatedValuePerShare_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare_lbl" xml:lang="en-US">Common stock, par value</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockSharesAuthorized" xlink:label="us-gaap_CommonStockSharesAuthorized" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesAuthorized" xlink:to="us-gaap_CommonStockSharesAuthorized_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesAuthorized_lbl" xml:lang="en-US">Common stock, shares authorized</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:label="us-gaap_CommonStockSharesIssued" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesIssued" xlink:to="us-gaap_CommonStockSharesIssued_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesIssued_lbl" xml:lang="en-US">Common stock, shares issued</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockSharesIssued_lbl" xml:lang="en-US">Common stock, shares issued</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockSharesOutstanding" xlink:label="us-gaap_CommonStockSharesOutstanding" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesOutstanding" xlink:to="us-gaap_CommonStockSharesOutstanding_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xml:lang="en-US">Common stock, shares outstanding</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncomeStatementAbstract" xlink:label="us-gaap_IncomeStatementAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeStatementAbstract" xlink:to="us-gaap_IncomeStatementAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeStatementAbstract_lbl" xml:lang="en-US">Consolidated Statements Of Income [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RevenuesAbstract" xlink:label="us-gaap_RevenuesAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenuesAbstract" xlink:to="us-gaap_RevenuesAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RevenuesAbstract_lbl" xml:lang="en-US">Revenues:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateRevenueNet" xlink:label="us-gaap_RealEstateRevenueNet" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateRevenueNet" xlink:to="us-gaap_RealEstateRevenueNet_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateRevenueNet_lbl" xml:lang="en-US">Rental income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RealEstateRevenueNet_lbl" xml:lang="en-US">Rental income</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ManagementFeesRevenue" xlink:label="us-gaap_ManagementFeesRevenue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ManagementFeesRevenue" xlink:to="us-gaap_ManagementFeesRevenue_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ManagementFeesRevenue_lbl" xml:lang="en-US">Facility management fees</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ManagementFeesRevenue_lbl" xml:lang="en-US">Management fee revenues</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_Revenues" xlink:label="us-gaap_Revenues" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Revenues" xlink:to="us-gaap_Revenues_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Revenues_lbl" xml:lang="en-US">Total operating revenues</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_Revenues_lbl" xml:lang="en-US">Total operating revenues</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CostOfRevenueAbstract" xlink:label="us-gaap_CostOfRevenueAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CostOfRevenueAbstract" xlink:to="us-gaap_CostOfRevenueAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CostOfRevenueAbstract_lbl" xml:lang="en-US">Cost of Revenue [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CostOfRevenueAbstract_lbl" xml:lang="en-US">Expenses:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment" xlink:label="us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment" xlink:to="us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment_lbl" xml:lang="en-US">Cost of operations</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DepreciationAndAmortization" xlink:label="us-gaap_DepreciationAndAmortization" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DepreciationAndAmortization" xlink:to="us-gaap_DepreciationAndAmortization_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DepreciationAndAmortization_lbl" xml:lang="en-US">Depreciation and amortization</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_GeneralAndAdministrativeExpense" xlink:label="us-gaap_GeneralAndAdministrativeExpense" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GeneralAndAdministrativeExpense" xlink:to="us-gaap_GeneralAndAdministrativeExpense_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GeneralAndAdministrativeExpense_lbl" xml:lang="en-US">General and administrative</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_TotalOperatingExpenses" xlink:label="psb_TotalOperatingExpenses" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_TotalOperatingExpenses" xlink:to="psb_TotalOperatingExpenses_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_TotalOperatingExpenses_lbl" xml:lang="en-US">Total costs associated with ongoing operations. Includes depreciation, amortization, and general and administrative expenses.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_TotalOperatingExpenses_lbl" xml:lang="en-US">Total Operating Expenses</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="psb_TotalOperatingExpenses_lbl" xml:lang="en-US">Total operating expenses</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NonoperatingIncomeExpenseAbstract" xlink:label="us-gaap_NonoperatingIncomeExpenseAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NonoperatingIncomeExpenseAbstract" xlink:to="us-gaap_NonoperatingIncomeExpenseAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NonoperatingIncomeExpenseAbstract_lbl" xml:lang="en-US">Other income and (expenses):</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherNonoperatingIncome" xlink:label="us-gaap_OtherNonoperatingIncome" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherNonoperatingIncome" xlink:to="us-gaap_OtherNonoperatingIncome_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherNonoperatingIncome_lbl" xml:lang="en-US">Interest and Other Income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherNonoperatingIncome_lbl" xml:lang="en-US">Interest and other income</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherNonoperatingExpense" xlink:label="us-gaap_OtherNonoperatingExpense" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherNonoperatingExpense" xlink:to="us-gaap_OtherNonoperatingExpense_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherNonoperatingExpense_lbl" xml:lang="en-US">Interest expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_OtherNonoperatingExpense_lbl" xml:lang="en-US">Interest and other expenses</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NonoperatingIncomeExpense" xlink:label="us-gaap_NonoperatingIncomeExpense" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NonoperatingIncomeExpense" xlink:to="us-gaap_NonoperatingIncomeExpense_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NonoperatingIncomeExpense_lbl" xml:lang="en-US">Total other income and expenses</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NonoperatingIncomeExpense_lbl" xml:lang="en-US">Total other income and (expenses)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProfitLoss" xlink:label="us-gaap_ProfitLoss" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProfitLoss" xlink:to="us-gaap_ProfitLoss_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProfitLoss_lbl" xml:lang="en-US">Net income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProfitLoss_lbl" xml:lang="en-US">Net income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_ProfitLoss_lbl" xml:lang="en-US">Net income</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MinorityInterestInNetIncomeLossOfConsolidatedEntitiesAbstract" xlink:label="us-gaap_MinorityInterestInNetIncomeLossOfConsolidatedEntitiesAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinorityInterestInNetIncomeLossOfConsolidatedEntitiesAbstract" xlink:to="us-gaap_MinorityInterestInNetIncomeLossOfConsolidatedEntitiesAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MinorityInterestInNetIncomeLossOfConsolidatedEntitiesAbstract_lbl" xml:lang="en-US">Net income allocable to noncontrolling interests:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MinorityInterestInNetIncomeLossOperatingPartnerships" xlink:label="us-gaap_MinorityInterestInNetIncomeLossOperatingPartnerships" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinorityInterestInNetIncomeLossOperatingPartnerships" xlink:to="us-gaap_MinorityInterestInNetIncomeLossOperatingPartnerships_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MinorityInterestInNetIncomeLossOperatingPartnerships_lbl" xml:lang="en-US">Noncontrolling interests - common units</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_MinorityInterestInNetIncomeLossOperatingPartnerships_lbl" xml:lang="en-US">Noncontrolling interests - common units</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:label="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:to="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_lbl" xml:lang="en-US">Total net income allocable to noncontrolling interests</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_lbl" xml:lang="en-US">Total net income allocable to noncontrolling interests</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetIncomeLossAbstract" xlink:label="us-gaap_NetIncomeLossAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLossAbstract" xlink:to="us-gaap_NetIncomeLossAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetIncomeLossAbstract_lbl" xml:lang="en-US">Net income allocable to PS Business Parks, Inc.:</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_NetIncomeAllocableToPreferredShareholders" xlink:label="psb_NetIncomeAllocableToPreferredShareholders" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_NetIncomeAllocableToPreferredShareholders" xlink:to="psb_NetIncomeAllocableToPreferredShareholders_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_NetIncomeAllocableToPreferredShareholders_lbl" xml:lang="en-US">Net Income Allocable To Preferred Shareholders</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_NetIncomeAllocableToPreferredShareholders_lbl" xml:lang="en-US">Net Income Allocable To Preferred Shareholders</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_NetIncomeAllocableToPreferredShareholders_lbl" xml:lang="en-US">Preferred shareholders</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_NetIncomeAllocableToRestrictedStockUnitHolders" xlink:label="psb_NetIncomeAllocableToRestrictedStockUnitHolders" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_NetIncomeAllocableToRestrictedStockUnitHolders" xlink:to="psb_NetIncomeAllocableToRestrictedStockUnitHolders_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_NetIncomeAllocableToRestrictedStockUnitHolders_lbl" xml:lang="en-US">Net Income Allocable To Restricted Stock Unit Holders</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_NetIncomeAllocableToRestrictedStockUnitHolders_lbl" xml:lang="en-US">Net Income Allocable To Restricted Stock Unit Holders</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_NetIncomeAllocableToRestrictedStockUnitHolders_lbl" xml:lang="en-US">Restricted stock unit holders</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_CommonShareholders" xlink:label="psb_CommonShareholders" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_CommonShareholders" xlink:to="psb_CommonShareholders_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_CommonShareholders_lbl" xml:lang="en-US">Remaining net income, which is allocated to common shareholders</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_CommonShareholders_lbl" xml:lang="en-US">Common Shareholders</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_CommonShareholders_lbl" xml:lang="en-US">Common shareholders</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="psb_CommonShareholders_lbl" xml:lang="en-US">Net income allocable to common shareholders</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="us-gaap_NetIncomeLoss" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLoss" xlink:to="us-gaap_NetIncomeLoss_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetIncomeLoss_lbl" xml:lang="en-US">Total net income allocable to PS Business Parks, Inc</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetIncomeLoss_lbl" xml:lang="en-US">Total net income allocable to PS Business Parks, Inc.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EarningsPerShareBasicAndDilutedAbstract" xlink:label="us-gaap_EarningsPerShareBasicAndDilutedAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareBasicAndDilutedAbstract" xlink:to="us-gaap_EarningsPerShareBasicAndDilutedAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerShareBasicAndDilutedAbstract_lbl" xml:lang="en-US">Net income per common share</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EarningsPerShareBasic" xlink:label="us-gaap_EarningsPerShareBasic" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareBasic" xlink:to="us-gaap_EarningsPerShareBasic_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerShareBasic_lbl" xml:lang="en-US">Net income per share: Basic</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EarningsPerShareBasic_lbl" xml:lang="en-US">Net income per common share - Basic</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_EarningsPerShareBasic_lbl" xml:lang="en-US">Basic</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EarningsPerShareDiluted" xlink:label="us-gaap_EarningsPerShareDiluted" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareDiluted" xlink:to="us-gaap_EarningsPerShareDiluted_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerShareDiluted_lbl" xml:lang="en-US">Net income per share: Diluted</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EarningsPerShareDiluted_lbl" xml:lang="en-US">Net income per common share - Diluted</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_EarningsPerShareDiluted_lbl" xml:lang="en-US">Diluted</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:to="us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_lbl" xml:lang="en-US">Weighted Average Number of Shares Outstanding, Diluted [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_lbl" xml:lang="en-US">Weighted average common shares outstanding:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:to="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl" xml:lang="en-US">Basic</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl" xml:lang="en-US">Basic weighted average common shares outstanding</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:to="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" xml:lang="en-US">Diluted</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" xml:lang="en-US">Diluted weighted average common shares outstanding</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementOfStockholdersEquityAbstract" xlink:label="us-gaap_StatementOfStockholdersEquityAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfStockholdersEquityAbstract" xlink:to="us-gaap_StatementOfStockholdersEquityAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementOfStockholdersEquityAbstract_lbl" xml:lang="en-US">Consolidated Statement Of Equity [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementEquityComponentsAxis" xlink:label="us-gaap_StatementEquityComponentsAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementEquityComponentsAxis" xlink:to="us-gaap_StatementEquityComponentsAxis_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementEquityComponentsAxis_lbl" xml:lang="en-US">Statement, Equity Components [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="us-gaap_EquityComponentDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EquityComponentDomain" xlink:to="us-gaap_EquityComponentDomain_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EquityComponentDomain_lbl" xml:lang="en-US">Equity Component [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EquityComponentDomain_lbl" xml:lang="en-US">Equity Component [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockMember" xlink:label="us-gaap_PreferredStockMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockMember" xlink:to="us-gaap_PreferredStockMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockMember_lbl" xml:lang="en-US">Preferred Stock [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PreferredStockMember_lbl" xml:lang="en-US">Preferred Stock [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockMember" xlink:label="us-gaap_CommonStockMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockMember" xlink:to="us-gaap_CommonStockMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockMember_lbl" xml:lang="en-US">Common Stock [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockMember_lbl" xml:lang="en-US">Common Stock [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AdditionalPaidInCapitalMember" xlink:label="us-gaap_AdditionalPaidInCapitalMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdditionalPaidInCapitalMember" xlink:to="us-gaap_AdditionalPaidInCapitalMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdditionalPaidInCapitalMember_lbl" xml:lang="en-US">Additional Paid In Capital [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AdditionalPaidInCapitalMember_lbl" xml:lang="en-US">Paid-In Capital [Member]</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_CumulativeNetIncomeMember" xlink:label="psb_CumulativeNetIncomeMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_CumulativeNetIncomeMember" xlink:to="psb_CumulativeNetIncomeMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_CumulativeNetIncomeMember_lbl" xml:lang="en-US">Cumulative Net Income [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_CumulativeNetIncomeMember_lbl" xml:lang="en-US">Cumulative Net Income [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_CumulativeNetIncomeMember_lbl" xml:lang="en-US">Cumulative Net Income [Member]</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_CumulativeDistributionsMember" xlink:label="psb_CumulativeDistributionsMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_CumulativeDistributionsMember" xlink:to="psb_CumulativeDistributionsMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_CumulativeDistributionsMember_lbl" xml:lang="en-US">Cumulative Distributions [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_CumulativeDistributionsMember_lbl" xml:lang="en-US">Cumulative Distributions [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_CumulativeDistributionsMember_lbl" xml:lang="en-US">Cumulative Distributions [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ParentMember" xlink:label="us-gaap_ParentMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ParentMember" xlink:to="us-gaap_ParentMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ParentMember_lbl" xml:lang="en-US">Parent [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ParentMember_lbl" xml:lang="en-US">Total PS Business Parks, Inc.'s Shareholders' Equity [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NoncontrollingInterestMember" xlink:label="us-gaap_NoncontrollingInterestMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NoncontrollingInterestMember" xlink:to="us-gaap_NoncontrollingInterestMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NoncontrollingInterestMember_lbl" xml:lang="en-US">Noncontrolling Interest [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NoncontrollingInterestMember_lbl" xml:lang="en-US">Noncontrolling Interests [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SharesOutstanding" xlink:label="us-gaap_SharesOutstanding" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharesOutstanding" xlink:to="us-gaap_SharesOutstanding_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SharesOutstanding_lbl" xml:lang="en-US">Shares, Issued</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_SharesOutstanding_lbl" xml:lang="en-US">Balances, shares</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_SharesOutstanding_lbl" xml:lang="en-US">Balances, shares</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised" xlink:label="us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised" xlink:to="us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised_lbl" xml:lang="en-US">Exercise of stock options, value</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:label="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:to="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_lbl" xml:lang="en-US">Exercise of stock options, shares</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_lbl" xml:lang="en-US">Number of Options, Exercised</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation" xlink:label="us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation" xlink:to="us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation_lbl" xml:lang="en-US">Stock Compensation, Net, Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation_lbl" xml:lang="en-US">Stock compensation, net, value</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation" xlink:label="us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation" xlink:to="us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation_lbl" xml:lang="en-US">Stock compensation, net, shares</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DividendsAbstract" xlink:label="us-gaap_DividendsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DividendsAbstract" xlink:to="us-gaap_DividendsAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DividendsAbstract_lbl" xml:lang="en-US">Distributions:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DividendsPreferredStockCash" xlink:label="us-gaap_DividendsPreferredStockCash" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DividendsPreferredStockCash" xlink:to="us-gaap_DividendsPreferredStockCash_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DividendsPreferredStockCash_lbl" xml:lang="en-US">Dividends, Preferred Stock, Cash</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_DividendsPreferredStockCash_lbl" xml:lang="en-US">Preferred stock</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DividendsCommonStockCash" xlink:label="us-gaap_DividendsCommonStockCash" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DividendsCommonStockCash" xlink:to="us-gaap_DividendsCommonStockCash_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DividendsCommonStockCash_lbl" xml:lang="en-US">Dividends, Common Stock, Cash</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_DividendsCommonStockCash_lbl" xml:lang="en-US">Common stock</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:label="us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:to="us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_lbl" xml:lang="en-US">Distributions paid to noncontrolling interests</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_lbl" xml:lang="en-US">Noncontrolling interests</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_AdjustmentToNoncontrollingInterestsEquityInterest" xlink:label="psb_AdjustmentToNoncontrollingInterestsEquityInterest" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_AdjustmentToNoncontrollingInterestsEquityInterest" xlink:to="psb_AdjustmentToNoncontrollingInterestsEquityInterest_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_AdjustmentToNoncontrollingInterestsEquityInterest_lbl" xml:lang="en-US">Adjustment to reflect the noncontrolling interests' equity interest in the Company.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_AdjustmentToNoncontrollingInterestsEquityInterest_lbl" xml:lang="en-US">Adjustment To Noncontrolling Interests' Equity Interest</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_AdjustmentToNoncontrollingInterestsEquityInterest_lbl" xml:lang="en-US">Adjustment to noncontrolling interests in underlying operating partnership</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementOfCashFlowsAbstract" xlink:label="us-gaap_StatementOfCashFlowsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfCashFlowsAbstract" xlink:to="us-gaap_StatementOfCashFlowsAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementOfCashFlowsAbstract_lbl" xml:lang="en-US">Consolidated Statements Of Cash Flows [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US">Cash flows from operating activities:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="us-gaap_AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US">Adjustments to reconcile net income to net cash provided by operating activities:</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_DepreciationAndAmortizationIncludingAmountsInDiscontinuedOperations" xlink:label="psb_DepreciationAndAmortizationIncludingAmountsInDiscontinuedOperations" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_DepreciationAndAmortizationIncludingAmountsInDiscontinuedOperations" xlink:to="psb_DepreciationAndAmortizationIncludingAmountsInDiscontinuedOperations_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_DepreciationAndAmortizationIncludingAmountsInDiscontinuedOperations_lbl" xml:lang="en-US">The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Includes amounts in discontinued operations.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_DepreciationAndAmortizationIncludingAmountsInDiscontinuedOperations_lbl" xml:lang="en-US">Depreciation And Amortization Including Amounts In Discontinued Operations</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="psb_DepreciationAndAmortizationIncludingAmountsInDiscontinuedOperations_lbl" xml:lang="en-US">Depreciation and amortization</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_DepreciationAndAmortizationIncludingAmountsInDiscontinuedOperations_lbl" xml:lang="en-US">Depreciation and amortization expense</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_InPlaceLeaseAdjustment" xlink:label="psb_InPlaceLeaseAdjustment" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_InPlaceLeaseAdjustment" xlink:to="psb_InPlaceLeaseAdjustment_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_InPlaceLeaseAdjustment_lbl" xml:lang="en-US">The net amortization of above-market and below-market in-place lease value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_InPlaceLeaseAdjustment_lbl" xml:lang="en-US">In-place lease adjustment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="psb_InPlaceLeaseAdjustment_lbl" xml:lang="en-US">In-place lease adjustment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="psb_InPlaceLeaseAdjustment_lbl" xml:lang="en-US">Increase (decrease) in rental income due to amortization of net intangible assets or liabilities</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_LeaseIncentivesNetOfTenantImprovementReimbursements" xlink:label="psb_LeaseIncentivesNetOfTenantImprovementReimbursements" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_LeaseIncentivesNetOfTenantImprovementReimbursements" xlink:to="psb_LeaseIncentivesNetOfTenantImprovementReimbursements_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_LeaseIncentivesNetOfTenantImprovementReimbursements_lbl" xml:lang="en-US">The net amortization of lease incentives and tenant improvement reimbursements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_LeaseIncentivesNetOfTenantImprovementReimbursements_lbl" xml:lang="en-US">Lease incentives net of tenant improvement reimbursements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_LeaseIncentivesNetOfTenantImprovementReimbursements_lbl" xml:lang="en-US">Tenant improvement reimbursements net of lease incentives</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ShareBasedCompensation" xlink:label="us-gaap_ShareBasedCompensation" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensation" xlink:to="us-gaap_ShareBasedCompensation_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensation_lbl" xml:lang="en-US">Share Based Compensation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensation_lbl" xml:lang="en-US">Stock compensation</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncreaseDecreaseInOperatingAssets" xlink:label="us-gaap_IncreaseDecreaseInOperatingAssets" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInOperatingAssets" xlink:to="us-gaap_IncreaseDecreaseInOperatingAssets_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInOperatingAssets_lbl" xml:lang="en-US">Decrease in receivables and other assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInOperatingAssets_lbl" xml:lang="en-US">Decrease in receivables and other assets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncreaseDecreaseInOperatingLiabilities" xlink:label="us-gaap_IncreaseDecreaseInOperatingLiabilities" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInOperatingLiabilities" xlink:to="us-gaap_IncreaseDecreaseInOperatingLiabilities_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInOperatingLiabilities_lbl" xml:lang="en-US">Increase in accrued and other liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IncreaseDecreaseInOperatingLiabilities_lbl" xml:lang="en-US">Decrease in accrued and other liabilities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities_lbl" xml:lang="en-US">Total adjustments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities_lbl" xml:lang="en-US">Total adjustments</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xml:lang="en-US">Net cash provided by operating activities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xml:lang="en-US">Net cash provided by operating activities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl" xml:lang="en-US">Cash flows from investing activities:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsForCapitalImprovements" xlink:label="us-gaap_PaymentsForCapitalImprovements" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsForCapitalImprovements" xlink:to="us-gaap_PaymentsForCapitalImprovements_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsForCapitalImprovements_lbl" xml:lang="en-US">Capital improvements to real estate facilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsForCapitalImprovements_lbl" xml:lang="en-US">Capital improvements to real estate facilities</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_PaymentsForCapitalImprovementsForLandAndBuildingsAvailableForDevelopment" xlink:label="psb_PaymentsForCapitalImprovementsForLandAndBuildingsAvailableForDevelopment" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_PaymentsForCapitalImprovementsForLandAndBuildingsAvailableForDevelopment" xlink:to="psb_PaymentsForCapitalImprovementsForLandAndBuildingsAvailableForDevelopment_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_PaymentsForCapitalImprovementsForLandAndBuildingsAvailableForDevelopment_lbl" xml:lang="en-US">Payments For Capital Improvements For Land And Buildings Available For Development</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_PaymentsForCapitalImprovementsForLandAndBuildingsAvailableForDevelopment_lbl" xml:lang="en-US">Payments For Capital Improvements For Land And Buildings Available For Development</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="psb_PaymentsForCapitalImprovementsForLandAndBuildingsAvailableForDevelopment_lbl" xml:lang="en-US">Capital improvements to land and building held for development</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" xml:lang="en-US">Net cash used in investing activities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" xml:lang="en-US">Net cash used in investing activities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl" xml:lang="en-US">Cash flows from financing activities:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RepaymentsOfUnsecuredDebt" xlink:label="us-gaap_RepaymentsOfUnsecuredDebt" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RepaymentsOfUnsecuredDebt" xlink:to="us-gaap_RepaymentsOfUnsecuredDebt_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RepaymentsOfUnsecuredDebt_lbl" xml:lang="en-US">Repayments of Unsecured Debt</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_RepaymentsOfUnsecuredDebt_lbl" xml:lang="en-US">Repayment of borrowings on term loan debt</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_PrincipalPaymentsOnMortgageNotesPayable" xlink:label="psb_PrincipalPaymentsOnMortgageNotesPayable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_PrincipalPaymentsOnMortgageNotesPayable" xlink:to="psb_PrincipalPaymentsOnMortgageNotesPayable_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_PrincipalPaymentsOnMortgageNotesPayable_lbl" xml:lang="en-US">Principal payments on mortgage notes payable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_PrincipalPaymentsOnMortgageNotesPayable_lbl" xml:lang="en-US">Principal Payments On Mortgage Notes Payable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="psb_PrincipalPaymentsOnMortgageNotesPayable_lbl" xml:lang="en-US">Principal payments on mortgage notes payable</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RepaymentsOfSecuredDebt" xlink:label="us-gaap_RepaymentsOfSecuredDebt" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RepaymentsOfSecuredDebt" xlink:to="us-gaap_RepaymentsOfSecuredDebt_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RepaymentsOfSecuredDebt_lbl" xml:lang="en-US">Repayment of mortgage note payable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_RepaymentsOfSecuredDebt_lbl" xml:lang="en-US">Repayment of mortgage notes payable</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock" xlink:label="us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock" xlink:to="us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock_lbl" xml:lang="en-US">Proceeds from Issuance of Preferred Stock and Preference Stock</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock_lbl" xml:lang="en-US">Net proceeds from the issuance of preferred stock</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromStockOptionsExercised" xlink:label="us-gaap_ProceedsFromStockOptionsExercised" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromStockOptionsExercised" xlink:to="us-gaap_ProceedsFromStockOptionsExercised_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromStockOptionsExercised_lbl" xml:lang="en-US">Proceeds from the exercise of stock options</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_DistributionsPaidToPreferredShareholders" xlink:label="psb_DistributionsPaidToPreferredShareholders" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_DistributionsPaidToPreferredShareholders" xlink:to="psb_DistributionsPaidToPreferredShareholders_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_DistributionsPaidToPreferredShareholders_lbl" xml:lang="en-US">Distributions paid to preferred shareholders</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_DistributionsPaidToPreferredShareholders_lbl" xml:lang="en-US">Distributions paid to preferred shareholders</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="psb_DistributionsPaidToPreferredShareholders_lbl" xml:lang="en-US">Distributions paid to preferred shareholders</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_DistributionsPaidToNoncontrollingInterestsCommonUnits" xlink:label="psb_DistributionsPaidToNoncontrollingInterestsCommonUnits" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_DistributionsPaidToNoncontrollingInterestsCommonUnits" xlink:to="psb_DistributionsPaidToNoncontrollingInterestsCommonUnits_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_DistributionsPaidToNoncontrollingInterestsCommonUnits_lbl" xml:lang="en-US">Distributions paid to noncontrolling interests - common units</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_DistributionsPaidToNoncontrollingInterestsCommonUnits_lbl" xml:lang="en-US">Distributions paid to noncontrolling interests - common units</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="psb_DistributionsPaidToNoncontrollingInterestsCommonUnits_lbl" xml:lang="en-US">Distributions paid to noncontrolling interests - common units</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsOfDividendsCommonStock" xlink:label="us-gaap_PaymentsOfDividendsCommonStock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsOfDividendsCommonStock" xlink:to="us-gaap_PaymentsOfDividendsCommonStock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsOfDividendsCommonStock_lbl" xml:lang="en-US">Distributions paid to common shareholders</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsOfDividendsCommonStock_lbl" xml:lang="en-US">Distributions paid to common shareholders</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" xml:lang="en-US">Net cash used in financing activities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" xml:lang="en-US">Net cash used in financing activities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:to="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_lbl" xml:lang="en-US">Net decrease in cash and cash equivalents</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_lbl" xml:lang="en-US">Net increase (decrease) in cash and cash equivalents</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SupplementalCashFlowInformationAbstract" xlink:label="us-gaap_SupplementalCashFlowInformationAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SupplementalCashFlowInformationAbstract" xlink:to="us-gaap_SupplementalCashFlowInformationAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SupplementalCashFlowInformationAbstract_lbl" xml:lang="en-US">Supplemental Cash Flow Information [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SupplementalCashFlowInformationAbstract_lbl" xml:lang="en-US">Supplemental schedule of non-cash investing and financing activities:</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_AdjustmentToNoncontrollingInterestsInUnderlyingOperatingPartnershipAbstract" xlink:label="psb_AdjustmentToNoncontrollingInterestsInUnderlyingOperatingPartnershipAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_AdjustmentToNoncontrollingInterestsInUnderlyingOperatingPartnershipAbstract" xlink:to="psb_AdjustmentToNoncontrollingInterestsInUnderlyingOperatingPartnershipAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_AdjustmentToNoncontrollingInterestsInUnderlyingOperatingPartnershipAbstract_lbl" xml:lang="en-US">Adjustment to noncontrolling interests in underlying operating partnership [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_AdjustmentToNoncontrollingInterestsInUnderlyingOperatingPartnershipAbstract_lbl" xml:lang="en-US">Adjustment to noncontrolling interests in underlying operating partnership [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_AdjustmentToNoncontrollingInterestsInUnderlyingOperatingPartnershipAbstract_lbl" xml:lang="en-US">Adjustment to noncontrolling interests in underlying operating partnership:</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_AdjustmentToNoncontrollingInterestsCommonUnits" xlink:label="psb_AdjustmentToNoncontrollingInterestsCommonUnits" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_AdjustmentToNoncontrollingInterestsCommonUnits" xlink:to="psb_AdjustmentToNoncontrollingInterestsCommonUnits_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_AdjustmentToNoncontrollingInterestsCommonUnits_lbl" xml:lang="en-US">The effect of the adjustment on noncontrolling interests-common units to reflect the noncontrolling interests' equity interest in the Company</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_AdjustmentToNoncontrollingInterestsCommonUnits_lbl" xml:lang="en-US">Adjustment to Noncontrolling interests - common units</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_AdjustmentToNoncontrollingInterestsCommonUnits_lbl" xml:lang="en-US">Noncontrolling interests - common units</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_AdjustmentToNoncontrollingInterestsPaidInCapital" xlink:label="psb_AdjustmentToNoncontrollingInterestsPaidInCapital" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_AdjustmentToNoncontrollingInterestsPaidInCapital" xlink:to="psb_AdjustmentToNoncontrollingInterestsPaidInCapital_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_AdjustmentToNoncontrollingInterestsPaidInCapital_lbl" xml:lang="en-US">The effect of the adjustment on paid-in capital to reflect the noncontrolling interests' equity interest in the Company</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_AdjustmentToNoncontrollingInterestsPaidInCapital_lbl" xml:lang="en-US">Adjustment To Noncontrolling Interests Paid In Capital</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_AdjustmentToNoncontrollingInterestsPaidInCapital_lbl" xml:lang="en-US">Paid-in capital</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_AccruedPreferredStockDistributionAbstract" xlink:label="psb_AccruedPreferredStockDistributionAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_AccruedPreferredStockDistributionAbstract" xlink:to="psb_AccruedPreferredStockDistributionAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_AccruedPreferredStockDistributionAbstract_lbl" xml:lang="en-US">Accrued preferred stock distribution [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_AccruedPreferredStockDistributionAbstract_lbl" xml:lang="en-US">Accrued preferred stock distribution [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_AccruedPreferredStockDistributionAbstract_lbl" xml:lang="en-US">Accrued preferred stock distribution:</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_AccruedAndOtherLiabilitiesRelatedToPreferredStockDistribution" xlink:label="psb_AccruedAndOtherLiabilitiesRelatedToPreferredStockDistribution" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_AccruedAndOtherLiabilitiesRelatedToPreferredStockDistribution" xlink:to="psb_AccruedAndOtherLiabilitiesRelatedToPreferredStockDistribution_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_AccruedAndOtherLiabilitiesRelatedToPreferredStockDistribution_lbl" xml:lang="en-US">Accrued And Other Liabilities Related To Preferred Stock Distribution</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_AccruedAndOtherLiabilitiesRelatedToPreferredStockDistribution_lbl" xml:lang="en-US">Accrued And Other Liabilities Related To Preferred Stock Distribution</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_AccruedAndOtherLiabilitiesRelatedToPreferredStockDistribution_lbl" xml:lang="en-US">Accured and other liabilities</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_CumulativePreferredStockDistributions" xlink:label="psb_CumulativePreferredStockDistributions" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_CumulativePreferredStockDistributions" xlink:to="psb_CumulativePreferredStockDistributions_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_CumulativePreferredStockDistributions_lbl" xml:lang="en-US">Cumulative Preferred Stock Distributions</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_CumulativePreferredStockDistributions_lbl" xml:lang="en-US">Cumulative Preferred Stock Distributions</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_CumulativePreferredStockDistributions_lbl" xml:lang="en-US">Cumulative distributions</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_TransferToLandAndBuildingHeldForDevelopmentAbstract" xlink:label="psb_TransferToLandAndBuildingHeldForDevelopmentAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_TransferToLandAndBuildingHeldForDevelopmentAbstract" xlink:to="psb_TransferToLandAndBuildingHeldForDevelopmentAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_TransferToLandAndBuildingHeldForDevelopmentAbstract_lbl" xml:lang="en-US">Transfer To Land And Building Held For Development [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_TransferToLandAndBuildingHeldForDevelopmentAbstract_lbl" xml:lang="en-US">Transfer To Land And Building Held For Development [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_TransferToLandAndBuildingHeldForDevelopmentAbstract_lbl" xml:lang="en-US">Transfer to land and building held for development:</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_TransferToLandAndBuildingHeldForDevelopmentLand" xlink:label="psb_TransferToLandAndBuildingHeldForDevelopmentLand" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_TransferToLandAndBuildingHeldForDevelopmentLand" xlink:to="psb_TransferToLandAndBuildingHeldForDevelopmentLand_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_TransferToLandAndBuildingHeldForDevelopmentLand_lbl" xml:lang="en-US">Transfer To Land And Building Held For Development, Land</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_TransferToLandAndBuildingHeldForDevelopmentLand_lbl" xml:lang="en-US">Transfer To Land And Building Held For Development, Land</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_TransferToLandAndBuildingHeldForDevelopmentLand_lbl" xml:lang="en-US">Land</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_TransferToLandAndBuildingHeldForDevelopmentBuildingsAndImprovements" xlink:label="psb_TransferToLandAndBuildingHeldForDevelopmentBuildingsAndImprovements" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_TransferToLandAndBuildingHeldForDevelopmentBuildingsAndImprovements" xlink:to="psb_TransferToLandAndBuildingHeldForDevelopmentBuildingsAndImprovements_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_TransferToLandAndBuildingHeldForDevelopmentBuildingsAndImprovements_lbl" xml:lang="en-US">Transfer To Land And Building Held For Development, Buildings And Improvements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_TransferToLandAndBuildingHeldForDevelopmentBuildingsAndImprovements_lbl" xml:lang="en-US">Transfer To Land And Building Held For Development, Buildings And Improvements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_TransferToLandAndBuildingHeldForDevelopmentBuildingsAndImprovements_lbl" xml:lang="en-US">Buildings and improvements</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_TransferToLandAndBuildingHeldForDevelopmentAccumulatedDepreciation" xlink:label="psb_TransferToLandAndBuildingHeldForDevelopmentAccumulatedDepreciation" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_TransferToLandAndBuildingHeldForDevelopmentAccumulatedDepreciation" xlink:to="psb_TransferToLandAndBuildingHeldForDevelopmentAccumulatedDepreciation_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_TransferToLandAndBuildingHeldForDevelopmentAccumulatedDepreciation_lbl" xml:lang="en-US">Transfer To Land And Building Held For Development, Accumulated Depreciation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_TransferToLandAndBuildingHeldForDevelopmentAccumulatedDepreciation_lbl" xml:lang="en-US">Transfer To Land And Building Held For Development, Accumulated Depreciation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_TransferToLandAndBuildingHeldForDevelopmentAccumulatedDepreciation_lbl" xml:lang="en-US">Accumulated depreciation</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_TransferToLandAndBuildingHeldForDevelopmentLandAndBuildingHeldForDevelopment" xlink:label="psb_TransferToLandAndBuildingHeldForDevelopmentLandAndBuildingHeldForDevelopment" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_TransferToLandAndBuildingHeldForDevelopmentLandAndBuildingHeldForDevelopment" xlink:to="psb_TransferToLandAndBuildingHeldForDevelopmentLandAndBuildingHeldForDevelopment_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_TransferToLandAndBuildingHeldForDevelopmentLandAndBuildingHeldForDevelopment_lbl" xml:lang="en-US">Transfer To Land And Building Held For Development, Land And Building Held For Development</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_TransferToLandAndBuildingHeldForDevelopmentLandAndBuildingHeldForDevelopment_lbl" xml:lang="en-US">Transfer To Land And Building Held For Development, Land And Building Held For Development</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_TransferToLandAndBuildingHeldForDevelopmentLandAndBuildingHeldForDevelopment_lbl" xml:lang="en-US">Land and building held for development</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:to="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_lbl" xml:lang="en-US">Organization And Description Of Business [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NatureOfOperations" xlink:label="us-gaap_NatureOfOperations" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NatureOfOperations" xlink:to="us-gaap_NatureOfOperations_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NatureOfOperations_lbl" xml:lang="en-US">NatureOfOperations</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_NatureOfOperations_lbl" xml:lang="en-US">Organization And Description Of Business</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="us-gaap_AccountingPoliciesAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountingPoliciesAbstract" xlink:to="us-gaap_AccountingPoliciesAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountingPoliciesAbstract_lbl" xml:lang="en-US">Summary Of Significant Accounting Policies [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SignificantAccountingPoliciesTextBlock" xlink:label="us-gaap_SignificantAccountingPoliciesTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SignificantAccountingPoliciesTextBlock" xlink:to="us-gaap_SignificantAccountingPoliciesTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SignificantAccountingPoliciesTextBlock_lbl" xml:lang="en-US">SignificantAccountingPoliciesTextBlock</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_SignificantAccountingPoliciesTextBlock_lbl" xml:lang="en-US">Summary Of Significant Accounting Policies</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateAbstract" xlink:label="us-gaap_RealEstateAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateAbstract" xlink:to="us-gaap_RealEstateAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateAbstract_lbl" xml:lang="en-US">Real Estate Facilities [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateDisclosureTextBlock" xlink:label="us-gaap_RealEstateDisclosureTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateDisclosureTextBlock" xlink:to="us-gaap_RealEstateDisclosureTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateDisclosureTextBlock_lbl" xml:lang="en-US">RealEstateDisclosureTextBlock</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RealEstateDisclosureTextBlock_lbl" xml:lang="en-US">Real Estate Facilities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LeasesAbstract" xlink:label="us-gaap_LeasesAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeasesAbstract" xlink:to="us-gaap_LeasesAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LeasesAbstract_lbl" xml:lang="en-US">Leasing Activity [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OperatingLeasesOfLessorDisclosureTextBlock" xlink:label="us-gaap_OperatingLeasesOfLessorDisclosureTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesOfLessorDisclosureTextBlock" xlink:to="us-gaap_OperatingLeasesOfLessorDisclosureTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesOfLessorDisclosureTextBlock_lbl" xml:lang="en-US">Operating Leases of Lessor Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OperatingLeasesOfLessorDisclosureTextBlock_lbl" xml:lang="en-US">Leasing Activity</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_BankLoansAbstract" xlink:label="psb_BankLoansAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_BankLoansAbstract" xlink:to="psb_BankLoansAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_BankLoansAbstract_lbl" xml:lang="en-US">Bank Loans [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_BankLoansAbstract_lbl" xml:lang="en-US">Bank Loans [Abstract]</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_BankLoansDisclosureTextBlock" xlink:label="psb_BankLoansDisclosureTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_BankLoansDisclosureTextBlock" xlink:to="psb_BankLoansDisclosureTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_BankLoansDisclosureTextBlock_lbl" xml:lang="en-US">Bank Loans Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_BankLoansDisclosureTextBlock_lbl" xml:lang="en-US">Bank Loans Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_BankLoansDisclosureTextBlock_lbl" xml:lang="en-US">Bank Loans</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DebtDisclosureAbstract" xlink:label="us-gaap_DebtDisclosureAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtDisclosureAbstract" xlink:to="us-gaap_DebtDisclosureAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtDisclosureAbstract_lbl" xml:lang="en-US">Mortgage Notes Payable [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DebtDisclosureTextBlock" xlink:label="us-gaap_DebtDisclosureTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtDisclosureTextBlock" xlink:to="us-gaap_DebtDisclosureTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtDisclosureTextBlock_lbl" xml:lang="en-US">Debt Disclosure Text Block</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtDisclosureTextBlock_lbl" xml:lang="en-US">Mortgage Notes Payable</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MinorityInterestAbstract" xlink:label="us-gaap_MinorityInterestAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinorityInterestAbstract" xlink:to="us-gaap_MinorityInterestAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MinorityInterestAbstract_lbl" xml:lang="en-US">Noncontrolling Interests [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MinorityInterestDisclosureTextBlock" xlink:label="us-gaap_MinorityInterestDisclosureTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinorityInterestDisclosureTextBlock" xlink:to="us-gaap_MinorityInterestDisclosureTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MinorityInterestDisclosureTextBlock_lbl" xml:lang="en-US">Noncontrolling interests disclosure</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_MinorityInterestDisclosureTextBlock_lbl" xml:lang="en-US">Noncontrolling Interests</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RelatedPartyTransactionsAbstract" xlink:label="us-gaap_RelatedPartyTransactionsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionsAbstract" xlink:to="us-gaap_RelatedPartyTransactionsAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RelatedPartyTransactionsAbstract_lbl" xml:lang="en-US">Related Party Transactions [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:label="us-gaap_RelatedPartyTransactionsDisclosureTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:to="us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl" xml:lang="en-US">Related Party Transactions Disclosure Text Block</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl" xml:lang="en-US">Related Party Transactions</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockholdersEquityNoteAbstract" xlink:label="us-gaap_StockholdersEquityNoteAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityNoteAbstract" xlink:to="us-gaap_StockholdersEquityNoteAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityNoteAbstract_lbl" xml:lang="en-US">Shareholders' Equity [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:label="us-gaap_StockholdersEquityNoteDisclosureTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:to="us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl" xml:lang="en-US">Stockholders Equity Note Disclosure Text block</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl" xml:lang="en-US">Shareholders' Equity</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:to="us-gaap_CommitmentsAndContingenciesDisclosureAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureAbstract_lbl" xml:lang="en-US">Commitments And Contingencies [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:to="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_lbl" xml:lang="en-US">Commitments and contingencies disclosure text block</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_lbl" xml:lang="en-US">Commitments And Contingencies</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CompensationAndRetirementDisclosureAbstract" xlink:label="us-gaap_CompensationAndRetirementDisclosureAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CompensationAndRetirementDisclosureAbstract" xlink:to="us-gaap_CompensationAndRetirementDisclosureAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CompensationAndRetirementDisclosureAbstract_lbl" xml:lang="en-US">Stock Compensation [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CompensationAndEmployeeBenefitPlansTextBlock" xlink:label="us-gaap_CompensationAndEmployeeBenefitPlansTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CompensationAndEmployeeBenefitPlansTextBlock" xlink:to="us-gaap_CompensationAndEmployeeBenefitPlansTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CompensationAndEmployeeBenefitPlansTextBlock_lbl" xml:lang="en-US">Compensation and Employee Benefit Plans [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CompensationAndEmployeeBenefitPlansTextBlock_lbl" xml:lang="en-US">Stock Compensation</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:label="us-gaap_BasisOfAccountingPolicyPolicyTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:to="us-gaap_BasisOfAccountingPolicyPolicyTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BasisOfAccountingPolicyPolicyTextBlock_lbl" xml:lang="en-US">Basis of Accounting, Policy [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BasisOfAccountingPolicyPolicyTextBlock_lbl" xml:lang="en-US">Basis Of Presentation</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy" xlink:label="us-gaap_ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy" xlink:to="us-gaap_ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy_lbl" xml:lang="en-US">Noncontrolling Interests [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy_lbl" xml:lang="en-US">Noncontrolling Interests</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_UseOfEstimates" xlink:label="us-gaap_UseOfEstimates" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UseOfEstimates" xlink:to="us-gaap_UseOfEstimates_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_UseOfEstimates_lbl" xml:lang="en-US">Use of Estimates, Policy [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_UseOfEstimates_lbl" xml:lang="en-US">Use Of Estimates</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy" xlink:label="us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy" xlink:to="us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy_lbl" xml:lang="en-US">Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy_lbl" xml:lang="en-US">Allowance For Doubtful Accounts</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueMeasurementPolicyPolicyTextBlock" xlink:label="us-gaap_FairValueMeasurementPolicyPolicyTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueMeasurementPolicyPolicyTextBlock" xlink:to="us-gaap_FairValueMeasurementPolicyPolicyTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueMeasurementPolicyPolicyTextBlock_lbl" xml:lang="en-US">Fair Value of Financial Instruments, Policy [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FairValueMeasurementPolicyPolicyTextBlock_lbl" xml:lang="en-US">Financial Instruments</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_RealEstateFacilitiesPolicyTextBlock" xlink:label="psb_RealEstateFacilitiesPolicyTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_RealEstateFacilitiesPolicyTextBlock" xlink:to="psb_RealEstateFacilitiesPolicyTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_RealEstateFacilitiesPolicyTextBlock_lbl" xml:lang="en-US">Describes the company's policies for real estate facilities.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_RealEstateFacilitiesPolicyTextBlock_lbl" xml:lang="en-US">Real Estate Facilities [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_RealEstateFacilitiesPolicyTextBlock_lbl" xml:lang="en-US">Real Estate Facilities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateHeldForDevelopmentAndSalePolicy" xlink:label="us-gaap_RealEstateHeldForDevelopmentAndSalePolicy" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateHeldForDevelopmentAndSalePolicy" xlink:to="us-gaap_RealEstateHeldForDevelopmentAndSalePolicy_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateHeldForDevelopmentAndSalePolicy_lbl" xml:lang="en-US">Real Estate Held for Development and Sale, Policy [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RealEstateHeldForDevelopmentAndSalePolicy_lbl" xml:lang="en-US">Land And Building Held For Development</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DiscontinuedOperationsPolicyTextBlock" xlink:label="us-gaap_DiscontinuedOperationsPolicyTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DiscontinuedOperationsPolicyTextBlock" xlink:to="us-gaap_DiscontinuedOperationsPolicyTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DiscontinuedOperationsPolicyTextBlock_lbl" xml:lang="en-US">Discontinued Operations, Policy [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DiscontinuedOperationsPolicyTextBlock_lbl" xml:lang="en-US">Properties Held For Disposition</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_GoodwillAndIntangibleAssetsIntangibleAssetsPolicy" xlink:label="us-gaap_GoodwillAndIntangibleAssetsIntangibleAssetsPolicy" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GoodwillAndIntangibleAssetsIntangibleAssetsPolicy" xlink:to="us-gaap_GoodwillAndIntangibleAssetsIntangibleAssetsPolicy_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GoodwillAndIntangibleAssetsIntangibleAssetsPolicy_lbl" xml:lang="en-US">Intangible Assets And liabilities [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_GoodwillAndIntangibleAssetsIntangibleAssetsPolicy_lbl" xml:lang="en-US">Intangible Assets/Liabilities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock" xlink:label="us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock" xlink:to="us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_lbl" xml:lang="en-US">Impairment or Disposal of Long-Lived Assets, Policy [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_lbl" xml:lang="en-US">Evaluation Of Asset Impairment</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CompensationRelatedCostsPolicyTextBlock" xlink:label="us-gaap_CompensationRelatedCostsPolicyTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CompensationRelatedCostsPolicyTextBlock" xlink:to="us-gaap_CompensationRelatedCostsPolicyTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CompensationRelatedCostsPolicyTextBlock_lbl" xml:lang="en-US">Compensation Related Costs, Policy [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CompensationRelatedCostsPolicyTextBlock_lbl" xml:lang="en-US">Stock Compensation</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_RevenueAndExpenseRecognitionPolicyTextBlock" xlink:label="psb_RevenueAndExpenseRecognitionPolicyTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_RevenueAndExpenseRecognitionPolicyTextBlock" xlink:to="psb_RevenueAndExpenseRecognitionPolicyTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_RevenueAndExpenseRecognitionPolicyTextBlock_lbl" xml:lang="en-US">Describes the company's policies for revenue and expenses recognition.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_RevenueAndExpenseRecognitionPolicyTextBlock_lbl" xml:lang="en-US">Revenue and Expense Recognition [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_RevenueAndExpenseRecognitionPolicyTextBlock_lbl" xml:lang="en-US">Revenue And Expense Recognition</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_GainsFromSalesOfRealEstateFacilitiesPolicyTextBlock" xlink:label="psb_GainsFromSalesOfRealEstateFacilitiesPolicyTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_GainsFromSalesOfRealEstateFacilitiesPolicyTextBlock" xlink:to="psb_GainsFromSalesOfRealEstateFacilitiesPolicyTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_GainsFromSalesOfRealEstateFacilitiesPolicyTextBlock_lbl" xml:lang="en-US">Describes the company's policies for gains from sale of real estate facilities.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_GainsFromSalesOfRealEstateFacilitiesPolicyTextBlock_lbl" xml:lang="en-US">Gains From Sales Of Real Estate Facilities [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_GainsFromSalesOfRealEstateFacilitiesPolicyTextBlock_lbl" xml:lang="en-US">Gains From Sales Of Real Estate Facilities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SellingGeneralAndAdministrativeExpensesPolicyTextBlock" xlink:label="us-gaap_SellingGeneralAndAdministrativeExpensesPolicyTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SellingGeneralAndAdministrativeExpensesPolicyTextBlock" xlink:to="us-gaap_SellingGeneralAndAdministrativeExpensesPolicyTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SellingGeneralAndAdministrativeExpensesPolicyTextBlock_lbl" xml:lang="en-US">Selling, General and Administrative Expenses, Policy [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SellingGeneralAndAdministrativeExpensesPolicyTextBlock_lbl" xml:lang="en-US">General And Administrative Expenses</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncomeTaxPolicyTextBlock" xlink:label="us-gaap_IncomeTaxPolicyTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxPolicyTextBlock" xlink:to="us-gaap_IncomeTaxPolicyTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxPolicyTextBlock_lbl" xml:lang="en-US">Income Tax, Policy [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncomeTaxPolicyTextBlock_lbl" xml:lang="en-US">Income Taxes</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_PreferredEquityIssuanceCostsPolicyTextBlock" xlink:label="psb_PreferredEquityIssuanceCostsPolicyTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_PreferredEquityIssuanceCostsPolicyTextBlock" xlink:to="psb_PreferredEquityIssuanceCostsPolicyTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_PreferredEquityIssuanceCostsPolicyTextBlock_lbl" xml:lang="en-US">Describes the company's policies for preferred equity issuance costs.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_PreferredEquityIssuanceCostsPolicyTextBlock_lbl" xml:lang="en-US">Preferred Equity Issuance Costs [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_PreferredEquityIssuanceCostsPolicyTextBlock_lbl" xml:lang="en-US">Accounting For Preferred Equity Issuance Costs</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_NetIncomeAllocationPolicyTextBlock" xlink:label="psb_NetIncomeAllocationPolicyTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_NetIncomeAllocationPolicyTextBlock" xlink:to="psb_NetIncomeAllocationPolicyTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_NetIncomeAllocationPolicyTextBlock_lbl" xml:lang="en-US">Net Income Allocation [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_NetIncomeAllocationPolicyTextBlock_lbl" xml:lang="en-US">Net Income Allocation [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_NetIncomeAllocationPolicyTextBlock_lbl" xml:lang="en-US">Net Income Allocation</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EarningsPerSharePolicyTextBlock" xlink:label="us-gaap_EarningsPerSharePolicyTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerSharePolicyTextBlock" xlink:to="us-gaap_EarningsPerSharePolicyTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerSharePolicyTextBlock_lbl" xml:lang="en-US">Earnings Per Share, Policy [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EarningsPerSharePolicyTextBlock_lbl" xml:lang="en-US">Net Income Per Common Share</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SegmentReportingPolicyPolicyTextBlock" xlink:label="us-gaap_SegmentReportingPolicyPolicyTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SegmentReportingPolicyPolicyTextBlock" xlink:to="us-gaap_SegmentReportingPolicyPolicyTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SegmentReportingPolicyPolicyTextBlock_lbl" xml:lang="en-US">Segment Reporting, Policy [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SegmentReportingPolicyPolicyTextBlock_lbl" xml:lang="en-US">Segment Reporting</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PriorPeriodReclassificationAdjustmentDescription" xlink:label="us-gaap_PriorPeriodReclassificationAdjustmentDescription" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PriorPeriodReclassificationAdjustmentDescription" xlink:to="us-gaap_PriorPeriodReclassificationAdjustmentDescription_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PriorPeriodReclassificationAdjustmentDescription_lbl" xml:lang="en-US">Reclassification, Policy [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PriorPeriodReclassificationAdjustmentDescription_lbl" xml:lang="en-US">Reclassifications</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_NetIncomeAllocationTableTextBlock" xlink:label="psb_NetIncomeAllocationTableTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_NetIncomeAllocationTableTextBlock" xlink:to="psb_NetIncomeAllocationTableTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_NetIncomeAllocationTableTextBlock_lbl" xml:lang="en-US">Net Income Allocation [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_NetIncomeAllocationTableTextBlock_lbl" xml:lang="en-US">Net Income Allocation [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_NetIncomeAllocationTableTextBlock_lbl" xml:lang="en-US">Net Income Allocation</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:label="us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:to="us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_lbl" xml:lang="en-US">Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_lbl" xml:lang="en-US">Calculation Of Earnings Per Share</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfRealEstatePropertiesTable" xlink:label="us-gaap_ScheduleOfRealEstatePropertiesTable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfRealEstatePropertiesTable" xlink:to="us-gaap_ScheduleOfRealEstatePropertiesTable_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfRealEstatePropertiesTable_lbl" xml:lang="en-US">Schedule of Real Estate Properties [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstatePropertiesLineItems" xlink:label="us-gaap_RealEstatePropertiesLineItems" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstatePropertiesLineItems" xlink:to="us-gaap_RealEstatePropertiesLineItems_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstatePropertiesLineItems_lbl" xml:lang="en-US">Real Estate Properties [Line Items]</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_ScheduleOfRealEstateActivitiesTableTextBlock" xlink:label="psb_ScheduleOfRealEstateActivitiesTableTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_ScheduleOfRealEstateActivitiesTableTextBlock" xlink:to="psb_ScheduleOfRealEstateActivitiesTableTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_ScheduleOfRealEstateActivitiesTableTextBlock_lbl" xml:lang="en-US">Schedule Of Real Estate Activities [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_ScheduleOfRealEstateActivitiesTableTextBlock_lbl" xml:lang="en-US">Schedule Of Real Estate Activities [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_ScheduleOfRealEstateActivitiesTableTextBlock_lbl" xml:lang="en-US">Activity In Real Estate Facilities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock" xlink:label="us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock" xlink:to="us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock_lbl" xml:lang="en-US">Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock_lbl" xml:lang="en-US">Summary Of Future Minimum Rental Revenues Excluding Recovery Of Operating Expenses</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_ScheduleOfMortgageNotesPayableTableTextBlock" xlink:label="psb_ScheduleOfMortgageNotesPayableTableTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_ScheduleOfMortgageNotesPayableTableTextBlock" xlink:to="psb_ScheduleOfMortgageNotesPayableTableTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_ScheduleOfMortgageNotesPayableTableTextBlock_lbl" xml:lang="en-US">Schedule of Mortgage Notes Payable [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_ScheduleOfMortgageNotesPayableTableTextBlock_lbl" xml:lang="en-US">Schedule of Mortgage Notes Payable [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_ScheduleOfMortgageNotesPayableTableTextBlock_lbl" xml:lang="en-US">Schedule Of Mortgage Notes Payable</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_ScheduleOfPreferredStockByClassTableTextBlock" xlink:label="psb_ScheduleOfPreferredStockByClassTableTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_ScheduleOfPreferredStockByClassTableTextBlock" xlink:to="psb_ScheduleOfPreferredStockByClassTableTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_ScheduleOfPreferredStockByClassTableTextBlock_lbl" xml:lang="en-US">Schedule of Preferred Stock by Class [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_ScheduleOfPreferredStockByClassTableTextBlock_lbl" xml:lang="en-US">Schedule of Preferred Stock by Class [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_ScheduleOfPreferredStockByClassTableTextBlock_lbl" xml:lang="en-US">Schedule Of Preferred Stock Outstanding</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" xlink:label="us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" xlink:to="us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_lbl" xml:lang="en-US">Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_lbl" xml:lang="en-US">Summary Of Stock Options Activity</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock" xlink:label="us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock" xlink:to="us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock_lbl" xml:lang="en-US">Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock_lbl" xml:lang="en-US">Nonvested Restricted Stock Units</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_CompanySOwnershipPercentageOfLimitedPartnership" xlink:label="psb_CompanySOwnershipPercentageOfLimitedPartnership" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_CompanySOwnershipPercentageOfLimitedPartnership" xlink:to="psb_CompanySOwnershipPercentageOfLimitedPartnership_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_CompanySOwnershipPercentageOfLimitedPartnership_lbl" xml:lang="en-US">The Company's Ownership Percentage of the Limited Partnership.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_CompanySOwnershipPercentageOfLimitedPartnership_lbl" xml:lang="en-US">The Company's Ownership Percentage of the Limited Partnership</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_CompanySOwnershipPercentageOfLimitedPartnership_lbl" xml:lang="en-US">The Company's ownership percentage of the limited partnership</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_TotalSquareFootageOfRealEstateProperty" xlink:label="psb_TotalSquareFootageOfRealEstateProperty" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_TotalSquareFootageOfRealEstateProperty" xlink:to="psb_TotalSquareFootageOfRealEstateProperty_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_TotalSquareFootageOfRealEstateProperty_lbl" xml:lang="en-US">The amount of square footage related to real estate property owned and operated by the Company.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_TotalSquareFootageOfRealEstateProperty_lbl" xml:lang="en-US">Total Square Footage Of Real Estate Property</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_TotalSquareFootageOfRealEstateProperty_lbl" xml:lang="en-US">Owned and operated properties (in rentable square feet)</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_NumberOfStatesWithRentableCommercialSpace" xlink:label="psb_NumberOfStatesWithRentableCommercialSpace" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_NumberOfStatesWithRentableCommercialSpace" xlink:to="psb_NumberOfStatesWithRentableCommercialSpace_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_NumberOfStatesWithRentableCommercialSpace_lbl" xml:lang="en-US">Number of states with rentable commercial space</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_NumberOfStatesWithRentableCommercialSpace_lbl" xml:lang="en-US">Number of states with rentable commercial space</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_SquareFootageOfManagedRealEstateProperty" xlink:label="psb_SquareFootageOfManagedRealEstateProperty" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_SquareFootageOfManagedRealEstateProperty" xlink:to="psb_SquareFootageOfManagedRealEstateProperty_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_SquareFootageOfManagedRealEstateProperty_lbl" xml:lang="en-US">The amount of square footage related to managed real estate property.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_SquareFootageOfManagedRealEstateProperty_lbl" xml:lang="en-US">Square Footage Of Managed Real Estate Property</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_SquareFootageOfManagedRealEstateProperty_lbl" xml:lang="en-US">Managed properties (in rentable square feet)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:label="us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:to="us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_lbl" xml:lang="en-US">Schedule of Property, Plant and Equipment [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RangeAxis" xlink:label="us-gaap_RangeAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RangeAxis" xlink:to="us-gaap_RangeAxis_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RangeAxis_lbl" xml:lang="en-US">Range [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RangeMember" xlink:label="us-gaap_RangeMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RangeMember" xlink:to="us-gaap_RangeMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RangeMember_lbl" xml:lang="en-US">Range [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RangeMember_lbl" xml:lang="en-US">Range [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MaximumMember" xlink:label="us-gaap_MaximumMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MaximumMember" xlink:to="us-gaap_MaximumMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MaximumMember_lbl" xml:lang="en-US">Maximum [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_MaximumMember_lbl" xml:lang="en-US">Maximum [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MinimumMember" xlink:label="us-gaap_MinimumMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinimumMember" xlink:to="us-gaap_MinimumMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MinimumMember_lbl" xml:lang="en-US">Minimum [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_MinimumMember_lbl" xml:lang="en-US">Minimum [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PropertyPlantAndEquipmentLineItems" xlink:label="us-gaap_PropertyPlantAndEquipmentLineItems" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentLineItems" xlink:to="us-gaap_PropertyPlantAndEquipmentLineItems_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentLineItems_lbl" xml:lang="en-US">Property, Plant and Equipment [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AllowanceForDoubtfulAccountsReceivable" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllowanceForDoubtfulAccountsReceivable" xlink:to="us-gaap_AllowanceForDoubtfulAccountsReceivable_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivable_lbl" xml:lang="en-US">Allowance for uncollectible accounts</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_StraightLineRentsReceivableAllowance" xlink:label="psb_StraightLineRentsReceivableAllowance" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_StraightLineRentsReceivableAllowance" xlink:to="psb_StraightLineRentsReceivableAllowance_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_StraightLineRentsReceivableAllowance_lbl" xml:lang="en-US">Allowance to deferred rent receivables attributable to, for instance, credit risk associated with a lessee.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_StraightLineRentsReceivableAllowance_lbl" xml:lang="en-US">Straight Line Rents Receivable Allowance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_StraightLineRentsReceivableAllowance_lbl" xml:lang="en-US">Allowance for uncollectable deferred rent receivables</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_CashAndCashEquivalentsMaximumBenchmarkInMonths" xlink:label="psb_CashAndCashEquivalentsMaximumBenchmarkInMonths" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_CashAndCashEquivalentsMaximumBenchmarkInMonths" xlink:to="psb_CashAndCashEquivalentsMaximumBenchmarkInMonths_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_CashAndCashEquivalentsMaximumBenchmarkInMonths_lbl" xml:lang="en-US">Cash and cash equivalents maximum benchmark</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_CashAndCashEquivalentsMaximumBenchmarkInMonths_lbl" xml:lang="en-US">Cash And Cash Equivalents Maximum Benchmark (in months)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_CashAndCashEquivalentsMaximumBenchmarkInMonths_lbl" xml:lang="en-US">Cash and cash equivalents maximum benchmark (in months)</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_MinimumExpenditureCostsSubjectToCapitalizationAndDepreciation" xlink:label="psb_MinimumExpenditureCostsSubjectToCapitalizationAndDepreciation" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_MinimumExpenditureCostsSubjectToCapitalizationAndDepreciation" xlink:to="psb_MinimumExpenditureCostsSubjectToCapitalizationAndDepreciation_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_MinimumExpenditureCostsSubjectToCapitalizationAndDepreciation_lbl" xml:lang="en-US">Expenditures subject to depreciation.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_MinimumExpenditureCostsSubjectToCapitalizationAndDepreciation_lbl" xml:lang="en-US">Minimum Expenditure Costs Subject To Capitalization And Depreciation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="psb_MinimumExpenditureCostsSubjectToCapitalizationAndDepreciation_lbl" xml:lang="en-US">Minimum expenditure costs subject to capitalization and depreciation</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_CapitalExpenditureExpectedFutureBenefitPeriod" xlink:label="psb_CapitalExpenditureExpectedFutureBenefitPeriod" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_CapitalExpenditureExpectedFutureBenefitPeriod" xlink:to="psb_CapitalExpenditureExpectedFutureBenefitPeriod_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_CapitalExpenditureExpectedFutureBenefitPeriod_lbl" xml:lang="en-US">Expenditures expected future benefit period.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_CapitalExpenditureExpectedFutureBenefitPeriod_lbl" xml:lang="en-US">Capital Expenditure Expected Future Benefit Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_CapitalExpenditureExpectedFutureBenefitPeriod_lbl" xml:lang="en-US">Minimum expected future benefit period on expenditures cost to be capitalized and depreciated (in years)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:label="us-gaap_PropertyPlantAndEquipmentUsefulLife" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:to="us-gaap_PropertyPlantAndEquipmentUsefulLife_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentUsefulLife_lbl" xml:lang="en-US">Property, Plant and Equipment, Useful Life</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentUsefulLife_lbl" xml:lang="en-US">Estimated useful life (in years)</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_TransactionCostForLeaseSubjectToCapitalizationAndDepreciation" xlink:label="psb_TransactionCostForLeaseSubjectToCapitalizationAndDepreciation" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_TransactionCostForLeaseSubjectToCapitalizationAndDepreciation" xlink:to="psb_TransactionCostForLeaseSubjectToCapitalizationAndDepreciation_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_TransactionCostForLeaseSubjectToCapitalizationAndDepreciation_lbl" xml:lang="en-US">Transaction Cost for Lease Subject to Deprecation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_TransactionCostForLeaseSubjectToCapitalizationAndDepreciation_lbl" xml:lang="en-US">Transaction Cost for Lease Subject to Capitalization and Depreciation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_TransactionCostForLeaseSubjectToCapitalizationAndDepreciation_lbl" xml:lang="en-US">Minimum transaction cost subject to capitalization and depreciation</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_TransactionCostExpectedFutureBenefitPeriod" xlink:label="psb_TransactionCostExpectedFutureBenefitPeriod" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_TransactionCostExpectedFutureBenefitPeriod" xlink:to="psb_TransactionCostExpectedFutureBenefitPeriod_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_TransactionCostExpectedFutureBenefitPeriod_lbl" xml:lang="en-US">Transaction cost Expected Future Benefit Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_TransactionCostExpectedFutureBenefitPeriod_lbl" xml:lang="en-US">Transaction cost Expected Future Benefit Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_TransactionCostExpectedFutureBenefitPeriod_lbl" xml:lang="en-US">Minimum expected future benefit period on transaction cost to be capitalized and depreciated (in years)</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_TransactionCostsOfCurrentLeasesSubjectToRecognitionAsExpense" xlink:label="psb_TransactionCostsOfCurrentLeasesSubjectToRecognitionAsExpense" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_TransactionCostsOfCurrentLeasesSubjectToRecognitionAsExpense" xlink:to="psb_TransactionCostsOfCurrentLeasesSubjectToRecognitionAsExpense_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_TransactionCostsOfCurrentLeasesSubjectToRecognitionAsExpense_lbl" xml:lang="en-US">Transaction Costs Of Leases, Subject To Recognition As Expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_TransactionCostsOfCurrentLeasesSubjectToRecognitionAsExpense_lbl" xml:lang="en-US">Transaction Costs Of Current Leases, Subject To Recognition As Expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_TransactionCostsOfCurrentLeasesSubjectToRecognitionAsExpense_lbl" xml:lang="en-US">Maximum transaction costs subject to being expensed as incurred</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_TransactionCostsOfLeasesSubjectToRecognitionAsExpenseMaximumPeriod" xlink:label="psb_TransactionCostsOfLeasesSubjectToRecognitionAsExpenseMaximumPeriod" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_TransactionCostsOfLeasesSubjectToRecognitionAsExpenseMaximumPeriod" xlink:to="psb_TransactionCostsOfLeasesSubjectToRecognitionAsExpenseMaximumPeriod_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_TransactionCostsOfLeasesSubjectToRecognitionAsExpenseMaximumPeriod_lbl" xml:lang="en-US">Transaction Costs Of Leases, Subject To Recognition As Expense, Maximum Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_TransactionCostsOfLeasesSubjectToRecognitionAsExpenseMaximumPeriod_lbl" xml:lang="en-US">Transaction Costs Of Leases, Subject To Recognition As Expense, Maximum Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_TransactionCostsOfLeasesSubjectToRecognitionAsExpenseMaximumPeriod_lbl" xml:lang="en-US">Maximum length of lease period for transaction costs to be expensed as incurred</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_NetIntangibleAssetsAtBalanceSheetDate" xlink:label="psb_NetIntangibleAssetsAtBalanceSheetDate" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_NetIntangibleAssetsAtBalanceSheetDate" xlink:to="psb_NetIntangibleAssetsAtBalanceSheetDate_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_NetIntangibleAssetsAtBalanceSheetDate_lbl" xml:lang="en-US">This element represents the identifiable intangible asset at balance sheet date established upon acquisition based on a favorable difference between the terms of an acquired lease and the current market terms for that lease at the acquisition date.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_NetIntangibleAssetsAtBalanceSheetDate_lbl" xml:lang="en-US">Net Intangible Assets at Balance Sheet Date</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="psb_NetIntangibleAssetsAtBalanceSheetDate_lbl" xml:lang="en-US">Value of in-place leases resulting in a net intangible asset</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_lbl" xml:lang="en-US">Finite-Lived Intangible Assets, Accumulated Amortization</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_lbl" xml:lang="en-US">Accumulated amortization - intangible assets</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_IntangibleAssetWeightedAverageAmortizationPeriod" xlink:label="psb_IntangibleAssetWeightedAverageAmortizationPeriod" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_IntangibleAssetWeightedAverageAmortizationPeriod" xlink:to="psb_IntangibleAssetWeightedAverageAmortizationPeriod_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_IntangibleAssetWeightedAverageAmortizationPeriod_lbl" xml:lang="en-US">Intangible Asset Weighted Average Amortization Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_IntangibleAssetWeightedAverageAmortizationPeriod_lbl" xml:lang="en-US">Intangible Asset Weighted Average Amortization Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_IntangibleAssetWeightedAverageAmortizationPeriod_lbl" xml:lang="en-US">Intangible assets, weighted average amortization period (in years)</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_NetIntangibleLiabilityAtBalanceSheetDate" xlink:label="psb_NetIntangibleLiabilityAtBalanceSheetDate" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_NetIntangibleLiabilityAtBalanceSheetDate" xlink:to="psb_NetIntangibleLiabilityAtBalanceSheetDate_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_NetIntangibleLiabilityAtBalanceSheetDate_lbl" xml:lang="en-US">This element represents the identifiable intangible liability at balance sheet date established upon acquisition based on an unfavorable difference between the terms of an acquired lease and the current market terms for that lease at the acquisition date.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_NetIntangibleLiabilityAtBalanceSheetDate_lbl" xml:lang="en-US">Net Intangible Liability At Balance Sheet Date</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_NetIntangibleLiabilityAtBalanceSheetDate_lbl" xml:lang="en-US">Value of in-place leases resulting in a net intangible liability</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_FiniteLivedIntangibleLiabilityAccumulatedAmortization" xlink:label="psb_FiniteLivedIntangibleLiabilityAccumulatedAmortization" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_FiniteLivedIntangibleLiabilityAccumulatedAmortization" xlink:to="psb_FiniteLivedIntangibleLiabilityAccumulatedAmortization_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_FiniteLivedIntangibleLiabilityAccumulatedAmortization_lbl" xml:lang="en-US">The accumulated amount of amortization of a major finite-lived intangible liability class. A major class is composed of intangible liabilities that can be grouped together because they are similar, either by their nature or by their use in the operations of a company.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_FiniteLivedIntangibleLiabilityAccumulatedAmortization_lbl" xml:lang="en-US">Finite Lived Intangible Liability Accumulated Amortization</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_FiniteLivedIntangibleLiabilityAccumulatedAmortization_lbl" xml:lang="en-US">Accumulated amortization - intangible liabilities</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_IntangibleLiabilityWeightedAverageAmortizationPeriod" xlink:label="psb_IntangibleLiabilityWeightedAverageAmortizationPeriod" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_IntangibleLiabilityWeightedAverageAmortizationPeriod" xlink:to="psb_IntangibleLiabilityWeightedAverageAmortizationPeriod_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_IntangibleLiabilityWeightedAverageAmortizationPeriod_lbl" xml:lang="en-US">Intangible Liability Weighted Average Amortization Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_IntangibleLiabilityWeightedAverageAmortizationPeriod_lbl" xml:lang="en-US">Intangible Liability Weighted Average Amortization Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="psb_IntangibleLiabilityWeightedAverageAmortizationPeriod_lbl" xml:lang="en-US">Intangible liability, weighted average amortization period (in years)</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_DistributionOfTaxableIncomeRequirement" xlink:label="psb_DistributionOfTaxableIncomeRequirement" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_DistributionOfTaxableIncomeRequirement" xlink:to="psb_DistributionOfTaxableIncomeRequirement_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_DistributionOfTaxableIncomeRequirement_lbl" xml:lang="en-US">Minimum distribution percentage of taxable income requirement.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_DistributionOfTaxableIncomeRequirement_lbl" xml:lang="en-US">Distribution Of Taxable Income Requirement</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="psb_DistributionOfTaxableIncomeRequirement_lbl" xml:lang="en-US">Distribution of taxable income requirement</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="us-gaap_IncomeTaxExpenseBenefit" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxExpenseBenefit" xlink:to="us-gaap_IncomeTaxExpenseBenefit_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxExpenseBenefit_lbl" xml:lang="en-US">Income Tax Expense (Benefit)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncomeTaxExpenseBenefit_lbl" xml:lang="en-US">Income tax provision</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_PercentageOfRecognizedSettlement" xlink:label="psb_PercentageOfRecognizedSettlement" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_PercentageOfRecognizedSettlement" xlink:to="psb_PercentageOfRecognizedSettlement_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_PercentageOfRecognizedSettlement_lbl" xml:lang="en-US">Odds of a particular tax position will be sustained upon examination or audit.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_PercentageOfRecognizedSettlement_lbl" xml:lang="en-US">Percentage of recognized settlement</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_PercentageOfRecognizedSettlement_lbl" xml:lang="en-US">Odds of a particular tax position will be sustained upon examination or audit</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:label="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:to="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_lbl" xml:lang="en-US">Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_lbl" xml:lang="en-US">Anti-dilutive share options to purchase</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NumberOfOperatingSegments" xlink:label="us-gaap_NumberOfOperatingSegments" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NumberOfOperatingSegments" xlink:to="us-gaap_NumberOfOperatingSegments_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NumberOfOperatingSegments_lbl" xml:lang="en-US">Number of Operating Segments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NumberOfOperatingSegments_lbl" xml:lang="en-US">Number of operating segments</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment" xlink:label="us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment" xlink:to="us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment_lbl" xml:lang="en-US">Weighted Average Number Diluted Shares Outstanding Adjustment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment_lbl" xml:lang="en-US">Net effect of dilutive stock compensation - based on treasury stock method using average market price</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_RealEstateFacilitiesTable" xlink:label="psb_RealEstateFacilitiesTable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_RealEstateFacilitiesTable" xlink:to="psb_RealEstateFacilitiesTable_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_RealEstateFacilitiesTable_lbl" xml:lang="en-US">Real Estate Facilities [Table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_RealEstateFacilitiesTable_lbl" xml:lang="en-US">Real Estate Facilities [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstatePropertiesAxis" xlink:label="us-gaap_RealEstatePropertiesAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstatePropertiesAxis" xlink:to="us-gaap_RealEstatePropertiesAxis_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstatePropertiesAxis_lbl" xml:lang="en-US">Real Estate Properties [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstatePropertiesDomain" xlink:label="us-gaap_RealEstatePropertiesDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstatePropertiesDomain" xlink:to="us-gaap_RealEstatePropertiesDomain_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstatePropertiesDomain_lbl" xml:lang="en-US">Real Estate Properties [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RealEstatePropertiesDomain_lbl" xml:lang="en-US">Real Estate Properties [Domain]</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_BayshoreCommonsMember" xlink:label="psb_BayshoreCommonsMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_BayshoreCommonsMember" xlink:to="psb_BayshoreCommonsMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_BayshoreCommonsMember_lbl" xml:lang="en-US">Bayshore Commons [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_BayshoreCommonsMember_lbl" xml:lang="en-US">Bayshore Commons [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_BayshoreCommonsMember_lbl" xml:lang="en-US">Bayshore Commons [Member]</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_DallasMultiTenantFlexBuildingsMember" xlink:label="psb_DallasMultiTenantFlexBuildingsMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_DallasMultiTenantFlexBuildingsMember" xlink:to="psb_DallasMultiTenantFlexBuildingsMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_DallasMultiTenantFlexBuildingsMember_lbl" xml:lang="en-US">Dallas Multi Tenant Flex Buildings [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_DallasMultiTenantFlexBuildingsMember_lbl" xml:lang="en-US">Dallas Multi Tenant Flex Buildings [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_DallasMultiTenantFlexBuildingsMember_lbl" xml:lang="en-US">Dallas Multi Tenant Flex Buildings [Member]</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_DallasMultiTenantFlexParksMember" xlink:label="psb_DallasMultiTenantFlexParksMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_DallasMultiTenantFlexParksMember" xlink:to="psb_DallasMultiTenantFlexParksMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_DallasMultiTenantFlexParksMember_lbl" xml:lang="en-US">Dallas Multi-Tenant Flex Parks [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_DallasMultiTenantFlexParksMember_lbl" xml:lang="en-US">Dallas Multi Tenant Flex Parks [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_DallasMultiTenantFlexParksMember_lbl" xml:lang="en-US">Dallas Multi-Tenant Flex Parks [Member]</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_DallasIndustrialParkMember" xlink:label="psb_DallasIndustrialParkMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_DallasIndustrialParkMember" xlink:to="psb_DallasIndustrialParkMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_DallasIndustrialParkMember_lbl" xml:lang="en-US">Dallas Industrial Park [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_DallasIndustrialParkMember_lbl" xml:lang="en-US">Dallas Industrial Park [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_DallasIndustrialParkMember_lbl" xml:lang="en-US">Dallas Industrial Park [Member]</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_NorthernVirginiaRedevelopedLandMember" xlink:label="psb_NorthernVirginiaRedevelopedLandMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_NorthernVirginiaRedevelopedLandMember" xlink:to="psb_NorthernVirginiaRedevelopedLandMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_NorthernVirginiaRedevelopedLandMember_lbl" xml:lang="en-US">Northern Virginia Redeveloped Land [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_NorthernVirginiaRedevelopedLandMember_lbl" xml:lang="en-US">Northern Virginia Redeveloped Land [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_NorthernVirginiaRedevelopedLandMember_lbl" xml:lang="en-US">Northern Virginia Redeveloped Land [Member]</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_RealEstateFacilitiesLineItems" xlink:label="psb_RealEstateFacilitiesLineItems" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_RealEstateFacilitiesLineItems" xlink:to="psb_RealEstateFacilitiesLineItems_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_RealEstateFacilitiesLineItems_lbl" xml:lang="en-US">Real Estate Facilities [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_RealEstateFacilitiesLineItems_lbl" xml:lang="en-US">Real Estate Facilities [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SignificantAcquisitionsAndDisposalsDateOfTransactionForAcquisitionsOrDisposals" xlink:label="us-gaap_SignificantAcquisitionsAndDisposalsDateOfTransactionForAcquisitionsOrDisposals" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SignificantAcquisitionsAndDisposalsDateOfTransactionForAcquisitionsOrDisposals" xlink:to="us-gaap_SignificantAcquisitionsAndDisposalsDateOfTransactionForAcquisitionsOrDisposals_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SignificantAcquisitionsAndDisposalsDateOfTransactionForAcquisitionsOrDisposals_lbl" xml:lang="en-US">Acquisition date of real estate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_SignificantAcquisitionsAndDisposalsDateOfTransactionForAcquisitionsOrDisposals_lbl" xml:lang="en-US">Acquisition/disposal date of real estate</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_NumberOfBuildingsAcquired" xlink:label="psb_NumberOfBuildingsAcquired" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_NumberOfBuildingsAcquired" xlink:to="psb_NumberOfBuildingsAcquired_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_NumberOfBuildingsAcquired_lbl" xml:lang="en-US">Number Of Buildings Acquired</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_NumberOfBuildingsAcquired_lbl" xml:lang="en-US">Number Of Buildings Acquired</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_NumberOfBuildingsAcquired_lbl" xml:lang="en-US">Number of buildings acquired</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_NumberOfParksAcquired" xlink:label="psb_NumberOfParksAcquired" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_NumberOfParksAcquired" xlink:to="psb_NumberOfParksAcquired_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_NumberOfParksAcquired_lbl" xml:lang="en-US">Number Of Parks Acquired</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_NumberOfParksAcquired_lbl" xml:lang="en-US">Number Of Parks Acquired</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_NumberOfParksAcquired_lbl" xml:lang="en-US">Number of parks acquired</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_NumberOfAcresAcquired" xlink:label="psb_NumberOfAcresAcquired" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_NumberOfAcresAcquired" xlink:to="psb_NumberOfAcresAcquired_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_NumberOfAcresAcquired_lbl" xml:lang="en-US">Number Of Acres Acquired</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_NumberOfAcresAcquired_lbl" xml:lang="en-US">Number Of Acres Acquired</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_NumberOfAcresAcquired_lbl" xml:lang="en-US">Number of acres acquired</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AreaOfRealEstateProperty" xlink:label="us-gaap_AreaOfRealEstateProperty" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AreaOfRealEstateProperty" xlink:to="us-gaap_AreaOfRealEstateProperty_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AreaOfRealEstateProperty_lbl" xml:lang="en-US">Square Footage of Real Estate Property</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AreaOfRealEstateProperty_lbl" xml:lang="en-US">Leasable space (in square feet)</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_ContractualPurchasePriceOfRealEstate" xlink:label="psb_ContractualPurchasePriceOfRealEstate" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_ContractualPurchasePriceOfRealEstate" xlink:to="psb_ContractualPurchasePriceOfRealEstate_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_ContractualPurchasePriceOfRealEstate_lbl" xml:lang="en-US">Contractual Purchase Price Of Real Estate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_ContractualPurchasePriceOfRealEstate_lbl" xml:lang="en-US">Contractual Purchase Price Of Real Estate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_ContractualPurchasePriceOfRealEstate_lbl" xml:lang="en-US">Purchase price</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_AreaOfRedevelopmentOfRealEstateProperty" xlink:label="psb_AreaOfRedevelopmentOfRealEstateProperty" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_AreaOfRedevelopmentOfRealEstateProperty" xlink:to="psb_AreaOfRedevelopmentOfRealEstateProperty_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_AreaOfRedevelopmentOfRealEstateProperty_lbl" xml:lang="en-US">Area Of Redevelopment Of Real Estate Property</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_AreaOfRedevelopmentOfRealEstateProperty_lbl" xml:lang="en-US">Area Of Redevelopment Of Real Estate Property</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_AreaOfRedevelopmentOfRealEstateProperty_lbl" xml:lang="en-US">Area of redevelopment of real estate property</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_PropertyDevelopmentCapitalizedCost" xlink:label="psb_PropertyDevelopmentCapitalizedCost" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_PropertyDevelopmentCapitalizedCost" xlink:to="psb_PropertyDevelopmentCapitalizedCost_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_PropertyDevelopmentCapitalizedCost_lbl" xml:lang="en-US">Property Development, Capitalized Cost</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_PropertyDevelopmentCapitalizedCost_lbl" xml:lang="en-US">Property Development, Capitalized Cost</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_PropertyDevelopmentCapitalizedCost_lbl" xml:lang="en-US">Capitalized cost</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_PropertyDevelopmentCapitalizedInterestExpense" xlink:label="psb_PropertyDevelopmentCapitalizedInterestExpense" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_PropertyDevelopmentCapitalizedInterestExpense" xlink:to="psb_PropertyDevelopmentCapitalizedInterestExpense_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_PropertyDevelopmentCapitalizedInterestExpense_lbl" xml:lang="en-US">Property Development, Capitalized Interest Expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_PropertyDevelopmentCapitalizedInterestExpense_lbl" xml:lang="en-US">Property Development, Capitalized Interest Expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_PropertyDevelopmentCapitalizedInterestExpense_lbl" xml:lang="en-US">Captialized interest expense</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:label="us-gaap_PropertyPlantAndEquipmentByTypeAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:to="us-gaap_PropertyPlantAndEquipmentByTypeAxis_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentByTypeAxis_lbl" xml:lang="en-US">Property, Plant and Equipment by Type [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:label="us-gaap_PropertyPlantAndEquipmentTypeDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:to="us-gaap_PropertyPlantAndEquipmentTypeDomain_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentTypeDomain_lbl" xml:lang="en-US">Property Plant And Equipment Type [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentTypeDomain_lbl" xml:lang="en-US">Property, Plant and Equipment, Type [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LandMember" xlink:label="us-gaap_LandMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LandMember" xlink:to="us-gaap_LandMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LandMember_lbl" xml:lang="en-US">Land [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LandMember_lbl" xml:lang="en-US">Land [Member]</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_AccumulatedDepreciationMember" xlink:label="psb_AccumulatedDepreciationMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_AccumulatedDepreciationMember" xlink:to="psb_AccumulatedDepreciationMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_AccumulatedDepreciationMember_lbl" xml:lang="en-US">Accumulated Depreciation [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_AccumulatedDepreciationMember_lbl" xml:lang="en-US">Accumulated Depreciation [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_AccumulatedDepreciationMember_lbl" xml:lang="en-US">Accumulated Depreciation [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateImprovements" xlink:label="us-gaap_RealEstateImprovements" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateImprovements" xlink:to="us-gaap_RealEstateImprovements_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateImprovements_lbl" xml:lang="en-US">Real Estate, Improvements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RealEstateImprovements_lbl" xml:lang="en-US">Capital improvements, net</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_WriteOffOfFullyAmortizedTransactionCosts" xlink:label="psb_WriteOffOfFullyAmortizedTransactionCosts" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_WriteOffOfFullyAmortizedTransactionCosts" xlink:to="psb_WriteOffOfFullyAmortizedTransactionCosts_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_WriteOffOfFullyAmortizedTransactionCosts_lbl" xml:lang="en-US">Write off of fully amortized transaction costs.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_WriteOffOfFullyAmortizedTransactionCosts_lbl" xml:lang="en-US">Write off of fully amortized transaction costs</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="psb_WriteOffOfFullyAmortizedTransactionCosts_lbl" xml:lang="en-US">Disposals</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_NonCancelableLeasesTerm" xlink:label="psb_NonCancelableLeasesTerm" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_NonCancelableLeasesTerm" xlink:to="psb_NonCancelableLeasesTerm_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_NonCancelableLeasesTerm_lbl" xml:lang="en-US">Non Cancelable Leases Term</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_NonCancelableLeasesTerm_lbl" xml:lang="en-US">Non Cancelable Leases Term</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_NonCancelableLeasesTerm_lbl" xml:lang="en-US">Non-cancelable leases term (in years)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_TenantReimbursements" xlink:label="us-gaap_TenantReimbursements" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TenantReimbursements" xlink:to="us-gaap_TenantReimbursements_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TenantReimbursements_lbl" xml:lang="en-US">Tenant reimbursements</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_PercentageOfLeasedAssetSubjectedToTerminationOptions" xlink:label="psb_PercentageOfLeasedAssetSubjectedToTerminationOptions" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_PercentageOfLeasedAssetSubjectedToTerminationOptions" xlink:to="psb_PercentageOfLeasedAssetSubjectedToTerminationOptions_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_PercentageOfLeasedAssetSubjectedToTerminationOptions_lbl" xml:lang="en-US">Percentage Of The Leased Asset Subjected To Termination Options.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_PercentageOfLeasedAssetSubjectedToTerminationOptions_lbl" xml:lang="en-US">Percentage of leased asset subjected to termination options</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_PercentageOfLeasedAssetExercisableInPeriodTwoThousandThirteen" xlink:label="psb_PercentageOfLeasedAssetExercisableInPeriodTwoThousandThirteen" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_PercentageOfLeasedAssetExercisableInPeriodTwoThousandThirteen" xlink:to="psb_PercentageOfLeasedAssetExercisableInPeriodTwoThousandThirteen_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_PercentageOfLeasedAssetExercisableInPeriodTwoThousandThirteen_lbl" xml:lang="en-US">Percentage Of Leased Asset Exercisable In Period Two Thousand Thirteen</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_PercentageOfLeasedAssetExercisableInPeriodTwoThousandThirteen_lbl" xml:lang="en-US">Percentage Of Leased Asset Exercisable In Period Two Thousand Thirteen</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_PercentageOfLeasedAssetExercisableInPeriodTwoThousandThirteen_lbl" xml:lang="en-US">Percentage of leased asset exercisable in period</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableCurrent" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableCurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableCurrent" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableCurrent_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableCurrent_lbl" xml:lang="en-US">Operating Leases, Future Minimum Payments Receivable, Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableCurrent_lbl" xml:lang="en-US">2014</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears_lbl" xml:lang="en-US">Operating Leases, Future Minimum Payments Receivable, in Two Years</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears_lbl" xml:lang="en-US">2015</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears_lbl" xml:lang="en-US">Operating Leases, Future Minimum Payments Receivable, in Three Years</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears_lbl" xml:lang="en-US">2016</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears_lbl" xml:lang="en-US">Operating Leases, Future Minimum Payments Receivable, in Four Years</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears_lbl" xml:lang="en-US">2017</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears_lbl" xml:lang="en-US">Operating Leases, Future Minimum Payments Receivable, in Five Years</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears_lbl" xml:lang="en-US">2018</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableThereafter" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableThereafter" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableThereafter" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableThereafter_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableThereafter_lbl" xml:lang="en-US">Operating Leases, Future Minimum Payments Receivable, Thereafter</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableThereafter_lbl" xml:lang="en-US">Thereafter</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsReceivable" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivable" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivable_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivable_lbl" xml:lang="en-US">Operating Leases, Future Minimum Payments Receivable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivable_lbl" xml:lang="en-US">Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LineOfCreditFacilityTable" xlink:label="us-gaap_LineOfCreditFacilityTable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityTable" xlink:to="us-gaap_LineOfCreditFacilityTable_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditFacilityTable_lbl" xml:lang="en-US">Line of Credit Facility [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LineOfCreditFacilityAxis" xlink:label="us-gaap_LineOfCreditFacilityAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityAxis" xlink:to="us-gaap_LineOfCreditFacilityAxis_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditFacilityAxis_lbl" xml:lang="en-US">Lender Name [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LineOfCreditFacilityLenderDomain" xlink:label="us-gaap_LineOfCreditFacilityLenderDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityLenderDomain" xlink:to="us-gaap_LineOfCreditFacilityLenderDomain_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditFacilityLenderDomain_lbl" xml:lang="en-US">Line Of Credit Facility Lender [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LineOfCreditFacilityLenderDomain_lbl" xml:lang="en-US">Line of Credit Facility, Lender [Domain]</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_TermLoanAgreementMember" xlink:label="psb_TermLoanAgreementMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_TermLoanAgreementMember" xlink:to="psb_TermLoanAgreementMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_TermLoanAgreementMember_lbl" xml:lang="en-US">Term Loan Agreement [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_TermLoanAgreementMember_lbl" xml:lang="en-US">Term Loan Agreement [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_TermLoanAgreementMember_lbl" xml:lang="en-US">Term Loan Agreement [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LineOfCreditFacilityLineItems" xlink:label="us-gaap_LineOfCreditFacilityLineItems" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityLineItems" xlink:to="us-gaap_LineOfCreditFacilityLineItems_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditFacilityLineItems_lbl" xml:lang="en-US">Line of Credit Facility [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:label="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:to="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_lbl" xml:lang="en-US">Line of Credit Facility, Maximum Borrowing Capacity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_lbl" xml:lang="en-US">Credit Facility, borrowing limit</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LineOfCreditFacilityFrequencyOfPayments" xlink:label="us-gaap_LineOfCreditFacilityFrequencyOfPayments" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityFrequencyOfPayments" xlink:to="us-gaap_LineOfCreditFacilityFrequencyOfPayments_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditFacilityFrequencyOfPayments_lbl" xml:lang="en-US">Line of Credit Facility, Frequency of Payments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LineOfCreditFacilityFrequencyOfPayments_lbl" xml:lang="en-US">Credit Facility, frequency of interest payment</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DebtInstrumentBasisSpreadOnVariableRate" xlink:label="us-gaap_DebtInstrumentBasisSpreadOnVariableRate" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentBasisSpreadOnVariableRate" xlink:to="us-gaap_DebtInstrumentBasisSpreadOnVariableRate_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentBasisSpreadOnVariableRate_lbl" xml:lang="en-US">Debt Instrument, Basis Spread on Variable Rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentBasisSpreadOnVariableRate_lbl" xml:lang="en-US">Spread over LIBOR</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_DebtInstrumentBasisSpreadOnVariableRatePreviousRate" xlink:label="psb_DebtInstrumentBasisSpreadOnVariableRatePreviousRate" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_DebtInstrumentBasisSpreadOnVariableRatePreviousRate" xlink:to="psb_DebtInstrumentBasisSpreadOnVariableRatePreviousRate_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_DebtInstrumentBasisSpreadOnVariableRatePreviousRate_lbl" xml:lang="en-US">Debt Instrument, Basis Spread On Variable Rate, Previous Rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_DebtInstrumentBasisSpreadOnVariableRatePreviousRate_lbl" xml:lang="en-US">Debt Instrument, Basis Spread On Variable Rate, Previous Rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_DebtInstrumentBasisSpreadOnVariableRatePreviousRate_lbl" xml:lang="en-US">Previous spread over LIBOR</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LineOfCreditFacilityCommitmentFeePercentage" xlink:label="us-gaap_LineOfCreditFacilityCommitmentFeePercentage" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityCommitmentFeePercentage" xlink:to="us-gaap_LineOfCreditFacilityCommitmentFeePercentage_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditFacilityCommitmentFeePercentage_lbl" xml:lang="en-US">Line of Credit Facility, Commitment Fee Percentage ##</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LineOfCreditFacilityCommitmentFeePercentage_lbl" xml:lang="en-US">Credit Facility, percentage of commitment fees</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LineOfCreditFacilityAmountOutstanding" xlink:label="us-gaap_LineOfCreditFacilityAmountOutstanding" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityAmountOutstanding" xlink:to="us-gaap_LineOfCreditFacilityAmountOutstanding_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditFacilityAmountOutstanding_lbl" xml:lang="en-US">Line of Credit Facility, Amount Outstanding</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LineOfCreditFacilityAmountOutstanding_lbl" xml:lang="en-US">Credit Facility, amount outstanding</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_UnamortizedCommitmentsFees" xlink:label="psb_UnamortizedCommitmentsFees" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_UnamortizedCommitmentsFees" xlink:to="psb_UnamortizedCommitmentsFees_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_UnamortizedCommitmentsFees_lbl" xml:lang="en-US">Unamortized commitments fees</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_UnamortizedCommitmentsFees_lbl" xml:lang="en-US">Unamortized Commitments Fees</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_UnamortizedCommitmentsFees_lbl" xml:lang="en-US">Unamortized commitments fees</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_DebtInstrumentTerm" xlink:label="psb_DebtInstrumentTerm" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_DebtInstrumentTerm" xlink:to="psb_DebtInstrumentTerm_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_DebtInstrumentTerm_lbl" xml:lang="en-US">Debt Instrument Term</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_DebtInstrumentTerm_lbl" xml:lang="en-US">Debt Instrument Term</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_DebtInstrumentTerm_lbl" xml:lang="en-US">Length of debt term (in years)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DebtInstrumentMaturityDate" xlink:label="us-gaap_DebtInstrumentMaturityDate" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentMaturityDate" xlink:to="us-gaap_DebtInstrumentMaturityDate_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentMaturityDate_lbl" xml:lang="en-US">Debt Instrument, Maturity Date</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentMaturityDate_lbl" xml:lang="en-US">Mortgage note due date</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DebtInstrumentMaturityDate_lbl" xml:lang="en-US">Term loan, maturity date</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_DebtInstrumentRepaymentDate" xlink:label="psb_DebtInstrumentRepaymentDate" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_DebtInstrumentRepaymentDate" xlink:to="psb_DebtInstrumentRepaymentDate_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_DebtInstrumentRepaymentDate_lbl" xml:lang="en-US">Debt Instrument, Repayment Date</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_DebtInstrumentRepaymentDate_lbl" xml:lang="en-US">Debt Instrument, Repayment Date</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_DebtInstrumentRepaymentDate_lbl" xml:lang="en-US">Term loan, repayment date</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DebtInstrumentTable" xlink:label="us-gaap_DebtInstrumentTable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentTable" xlink:to="us-gaap_DebtInstrumentTable_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentTable_lbl" xml:lang="en-US">Schedule of Long-term Debt Instruments [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LongtermDebtTypeAxis" xlink:label="us-gaap_LongtermDebtTypeAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongtermDebtTypeAxis" xlink:to="us-gaap_LongtermDebtTypeAxis_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongtermDebtTypeAxis_lbl" xml:lang="en-US">Long-term Debt, Type [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LongtermDebtTypeDomain" xlink:label="us-gaap_LongtermDebtTypeDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongtermDebtTypeDomain" xlink:to="us-gaap_LongtermDebtTypeDomain_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongtermDebtTypeDomain_lbl" xml:lang="en-US">Longterm Debt Type [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LongtermDebtTypeDomain_lbl" xml:lang="en-US">Long-term Debt, Type [Domain]</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_FivePointFourFivePercentMortgageNotesMember" xlink:label="psb_FivePointFourFivePercentMortgageNotesMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_FivePointFourFivePercentMortgageNotesMember" xlink:to="psb_FivePointFourFivePercentMortgageNotesMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_FivePointFourFivePercentMortgageNotesMember_lbl" xml:lang="en-US">Five Point Four Five Percent Mortgage Notes [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_FivePointFourFivePercentMortgageNotesMember_lbl" xml:lang="en-US">Five Point Four Five Percent Mortgage Notes [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_FivePointFourFivePercentMortgageNotesMember_lbl" xml:lang="en-US">5.45% Mortgage Note [Member]</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_TwoRepaidMortgageNotesMember" xlink:label="psb_TwoRepaidMortgageNotesMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_TwoRepaidMortgageNotesMember" xlink:to="psb_TwoRepaidMortgageNotesMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_TwoRepaidMortgageNotesMember_lbl" xml:lang="en-US">Two Repaid Mortgage Notes [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_TwoRepaidMortgageNotesMember_lbl" xml:lang="en-US">Two Repaid Mortgage Notes [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_TwoRepaidMortgageNotesMember_lbl" xml:lang="en-US">Two Repaid Mortgage Notes [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DebtInstrumentLineItems" xlink:label="us-gaap_DebtInstrumentLineItems" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentLineItems" xlink:to="us-gaap_DebtInstrumentLineItems_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentLineItems_lbl" xml:lang="en-US">Debt Instrument [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DebtInstrumentInterestRateEffectivePercentage" xlink:label="us-gaap_DebtInstrumentInterestRateEffectivePercentage" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentInterestRateEffectivePercentage" xlink:to="us-gaap_DebtInstrumentInterestRateEffectivePercentage_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentInterestRateEffectivePercentage_lbl" xml:lang="en-US">Debt Instrument, Interest Rate, Effective Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentInterestRateEffectivePercentage_lbl" xml:lang="en-US">Interest rate</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_NetBookValueOfRealEstateFacilitiesSecuringNotesPayable" xlink:label="psb_NetBookValueOfRealEstateFacilitiesSecuringNotesPayable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_NetBookValueOfRealEstateFacilitiesSecuringNotesPayable" xlink:to="psb_NetBookValueOfRealEstateFacilitiesSecuringNotesPayable_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_NetBookValueOfRealEstateFacilitiesSecuringNotesPayable_lbl" xml:lang="en-US">The net book value for the real estate facilities secured by the mortgage note payable at the end of the reporting period.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_NetBookValueOfRealEstateFacilitiesSecuringNotesPayable_lbl" xml:lang="en-US">Net book value of real estate facilities securing notes payable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_NetBookValueOfRealEstateFacilitiesSecuringNotesPayable_lbl" xml:lang="en-US">Net book value of secured property</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_SecuredBySquareFeetOfRealEstateFacilities" xlink:label="psb_SecuredBySquareFeetOfRealEstateFacilities" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_SecuredBySquareFeetOfRealEstateFacilities" xlink:to="psb_SecuredBySquareFeetOfRealEstateFacilities_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_SecuredBySquareFeetOfRealEstateFacilities_lbl" xml:lang="en-US">Secured by square feet of real estate facilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_SecuredBySquareFeetOfRealEstateFacilities_lbl" xml:lang="en-US">Secured By Square Feet Of Real Estate Facilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_SecuredBySquareFeetOfRealEstateFacilities_lbl" xml:lang="en-US">Secured by square feet of real estate facilities</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_NumberOfMortgageNotes" xlink:label="psb_NumberOfMortgageNotes" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_NumberOfMortgageNotes" xlink:to="psb_NumberOfMortgageNotes_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_NumberOfMortgageNotes_lbl" xml:lang="en-US">Number Of Mortgage Notes</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_NumberOfMortgageNotes_lbl" xml:lang="en-US">Number Of Mortgage Notes</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_NumberOfMortgageNotes_lbl" xml:lang="en-US">Number of mortgage notes repaid</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RepaymentsOfDebt" xlink:label="us-gaap_RepaymentsOfDebt" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RepaymentsOfDebt" xlink:to="us-gaap_RepaymentsOfDebt_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RepaymentsOfDebt_lbl" xml:lang="en-US">Repayments of Debt</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RepaymentsOfDebt_lbl" xml:lang="en-US">Mortgage note repayment amount</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfStockByClassTable" xlink:label="us-gaap_ScheduleOfStockByClassTable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfStockByClassTable" xlink:to="us-gaap_ScheduleOfStockByClassTable_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfStockByClassTable_lbl" xml:lang="en-US">Schedule of Stock by Class [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ClassOfStockLineItems" xlink:label="us-gaap_ClassOfStockLineItems" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ClassOfStockLineItems" xlink:to="us-gaap_ClassOfStockLineItems_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ClassOfStockLineItems_lbl" xml:lang="en-US">Class of Stock [Line Items]</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_WaitingPeriodInYearsForRedemptionOfPartnershipInterest" xlink:label="psb_WaitingPeriodInYearsForRedemptionOfPartnershipInterest" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_WaitingPeriodInYearsForRedemptionOfPartnershipInterest" xlink:to="psb_WaitingPeriodInYearsForRedemptionOfPartnershipInterest_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_WaitingPeriodInYearsForRedemptionOfPartnershipInterest_lbl" xml:lang="en-US">The waiting period from the date of admission as a limited partner that each limited partner has to be able to exercise the right to redemption of its partnership interest.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_WaitingPeriodInYearsForRedemptionOfPartnershipInterest_lbl" xml:lang="en-US">Waiting Period In Years For Redemption Of Partnership Interest</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_WaitingPeriodInYearsForRedemptionOfPartnershipInterest_lbl" xml:lang="en-US">Number of years from date of admission as a limited partner for redemption of partnership interest</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_MinorityInterestUnitsInOperatingPartnerships" xlink:label="psb_MinorityInterestUnitsInOperatingPartnerships" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_MinorityInterestUnitsInOperatingPartnerships" xlink:to="psb_MinorityInterestUnitsInOperatingPartnerships_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_MinorityInterestUnitsInOperatingPartnerships_lbl" xml:lang="en-US">Units owned by noncontrolling partners in an operating partnership .</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_MinorityInterestUnitsInOperatingPartnerships_lbl" xml:lang="en-US">Minority Interest Units In Operating Partnerships</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_MinorityInterestUnitsInOperatingPartnerships_lbl" xml:lang="en-US">Common units owned by affiliate</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:label="us-gaap_EquityMethodInvestmentOwnershipPercentage" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:to="us-gaap_EquityMethodInvestmentOwnershipPercentage_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EquityMethodInvestmentOwnershipPercentage_lbl" xml:lang="en-US">Equity Method Investment, Ownership Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_EquityMethodInvestmentOwnershipPercentage_lbl" xml:lang="en-US">Affiliate's percent ownership of the Company's common equity</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredUnitsOutstanding" xlink:label="us-gaap_PreferredUnitsOutstanding" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredUnitsOutstanding" xlink:to="us-gaap_PreferredUnitsOutstanding_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredUnitsOutstanding_lbl" xml:lang="en-US">Preferred Units, Outstanding</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PreferredUnitsOutstanding_lbl" xml:lang="en-US">Preferred units outstanding</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockDividendRatePercentage" xlink:label="us-gaap_PreferredStockDividendRatePercentage" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockDividendRatePercentage" xlink:to="us-gaap_PreferredStockDividendRatePercentage_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockDividendRatePercentage_lbl" xml:lang="en-US">Preferred Stock, Dividend Rate, Percentage or Per-Dollar-Amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:label="us-gaap_PreferredStockDividendRatePercentage_lbl" xml:lang="en-US">Cumulative preferred stock, dividend rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PreferredStockDividendRatePercentage_lbl" xml:lang="en-US">Dividend Rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_PreferredStockDividendRatePercentage_lbl" xml:lang="en-US">Cumulative preferred stock, dividend rate</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:label="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:to="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_lbl" xml:lang="en-US">Schedule of Related Party Transactions, by Related Party [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RelatedPartyTransactionLineItems" xlink:label="us-gaap_RelatedPartyTransactionLineItems" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionLineItems" xlink:to="us-gaap_RelatedPartyTransactionLineItems_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RelatedPartyTransactionLineItems_lbl" xml:lang="en-US">Related Party Transaction [Line Items]</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_RoyaltyFreeLicenseAgreementTerminationMinimumNotice" xlink:label="psb_RoyaltyFreeLicenseAgreementTerminationMinimumNotice" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_RoyaltyFreeLicenseAgreementTerminationMinimumNotice" xlink:to="psb_RoyaltyFreeLicenseAgreementTerminationMinimumNotice_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_RoyaltyFreeLicenseAgreementTerminationMinimumNotice_lbl" xml:lang="en-US">Royalty-free license agreement written notice of termination period minimum.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_RoyaltyFreeLicenseAgreementTerminationMinimumNotice_lbl" xml:lang="en-US">Royalty Free License Agreement Termination Minimum Notice</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_RoyaltyFreeLicenseAgreementTerminationMinimumNotice_lbl" xml:lang="en-US">Royalty-free license agreement written notice of termination period minimum (in months)</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_PropertyManagementContractTerm" xlink:label="psb_PropertyManagementContractTerm" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_PropertyManagementContractTerm" xlink:to="psb_PropertyManagementContractTerm_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_PropertyManagementContractTerm_lbl" xml:lang="en-US">Property management contract written notice of termination period minimum</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_PropertyManagementContractTerm_lbl" xml:lang="en-US">Property Management Contract Term</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_PropertyManagementContractTerm_lbl" xml:lang="en-US">Property management contract term (in years)</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_ExtendedPropertyManagementContractPeriod" xlink:label="psb_ExtendedPropertyManagementContractPeriod" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_ExtendedPropertyManagementContractPeriod" xlink:to="psb_ExtendedPropertyManagementContractPeriod_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_ExtendedPropertyManagementContractPeriod_lbl" xml:lang="en-US">Extended property management contract period to manage related party properties.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_ExtendedPropertyManagementContractPeriod_lbl" xml:lang="en-US">Extended Property Management Contract period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_ExtendedPropertyManagementContractPeriod_lbl" xml:lang="en-US">Extended property management contract period (in years)</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_NumberOfAssetsOwnedThatAreManagedByAffiliate" xlink:label="psb_NumberOfAssetsOwnedThatAreManagedByAffiliate" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_NumberOfAssetsOwnedThatAreManagedByAffiliate" xlink:to="psb_NumberOfAssetsOwnedThatAreManagedByAffiliate_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_NumberOfAssetsOwnedThatAreManagedByAffiliate_lbl" xml:lang="en-US">Number of assets owned that are managed by affiliate.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_NumberOfAssetsOwnedThatAreManagedByAffiliate_lbl" xml:lang="en-US">Number Of Assets Owned That Are Managed By Affiliate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_NumberOfAssetsOwnedThatAreManagedByAffiliate_lbl" xml:lang="en-US">Number of assets owned that are maintained by Public Storage</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_NoticePeriodOfPropertyManagementContract" xlink:label="psb_NoticePeriodOfPropertyManagementContract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_NoticePeriodOfPropertyManagementContract" xlink:to="psb_NoticePeriodOfPropertyManagementContract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_NoticePeriodOfPropertyManagementContract_lbl" xml:lang="en-US">Notice period of property management contract to manage PSB's mini storages.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_NoticePeriodOfPropertyManagementContract_lbl" xml:lang="en-US">Notice Period of Property Management Contract</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="psb_NoticePeriodOfPropertyManagementContract_lbl" xml:lang="en-US">Property management contract written notice of termination period minimum (in days)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ServiceManagementCosts" xlink:label="us-gaap_ServiceManagementCosts" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ServiceManagementCosts" xlink:to="us-gaap_ServiceManagementCosts_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ServiceManagementCosts_lbl" xml:lang="en-US">Management fee expenses</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty" xlink:label="us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty" xlink:to="us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty_lbl" xml:lang="en-US">Related Party Transaction, Expenses from Transactions with Related Party</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty_lbl" xml:lang="en-US">Administrative services costs</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DueToRelatedPartiesCurrentAndNoncurrent" xlink:label="us-gaap_DueToRelatedPartiesCurrentAndNoncurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DueToRelatedPartiesCurrentAndNoncurrent" xlink:to="us-gaap_DueToRelatedPartiesCurrentAndNoncurrent_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DueToRelatedPartiesCurrentAndNoncurrent_lbl" xml:lang="en-US">Due to related parties</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DueToRelatedPartiesCurrentAndNoncurrent_lbl" xml:lang="en-US">Due to related parties</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_PreferredEquityIssuanceDate" xlink:label="psb_PreferredEquityIssuanceDate" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_PreferredEquityIssuanceDate" xlink:to="psb_PreferredEquityIssuanceDate_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_PreferredEquityIssuanceDate_lbl" xml:lang="en-US">Preferred Equity Issuance Date.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_PreferredEquityIssuanceDate_lbl" xml:lang="en-US">Preferred Equity Issuance Date</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_PreferredEquityIssuanceDate_lbl" xml:lang="en-US">Issuance Date</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockValueOutstanding" xlink:label="us-gaap_PreferredStockValueOutstanding" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockValueOutstanding" xlink:to="us-gaap_PreferredStockValueOutstanding_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockValueOutstanding_lbl" xml:lang="en-US">Preferred Stock, Value, Outstanding</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PreferredStockValueOutstanding_lbl" xml:lang="en-US">Amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_PreferredStockValueOutstanding_lbl" xml:lang="en-US">Proceeds from issuance of depositary shares</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_DepositarySharesIssued" xlink:label="psb_DepositarySharesIssued" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_DepositarySharesIssued" xlink:to="psb_DepositarySharesIssued_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_DepositarySharesIssued_lbl" xml:lang="en-US">Depositary Shares Issued</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_DepositarySharesIssued_lbl" xml:lang="en-US">Depositary Shares Issued</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_DepositarySharesIssued_lbl" xml:lang="en-US">Depositary shares issued</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_UnderlyingConversionRatioFromDepositoryShares" xlink:label="psb_UnderlyingConversionRatioFromDepositoryShares" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_UnderlyingConversionRatioFromDepositoryShares" xlink:to="psb_UnderlyingConversionRatioFromDepositoryShares_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_UnderlyingConversionRatioFromDepositoryShares_lbl" xml:lang="en-US">Underlying conversion ratio from depository shares to preferred share.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_UnderlyingConversionRatioFromDepositoryShares_lbl" xml:lang="en-US">Underlying conversion ratio from depository shares</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_UnderlyingConversionRatioFromDepositoryShares_lbl" xml:lang="en-US">Depository shares conversion ratio to preferred share</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SaleOfStockPricePerShare" xlink:label="us-gaap_SaleOfStockPricePerShare" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SaleOfStockPricePerShare" xlink:to="us-gaap_SaleOfStockPricePerShare_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SaleOfStockPricePerShare_lbl" xml:lang="en-US">Sale of Stock, Price Per Share</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SaleOfStockPricePerShare_lbl" xml:lang="en-US">Depositary shares issued price per share</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_DistributionsRecordedToPreferredShareholders" xlink:label="psb_DistributionsRecordedToPreferredShareholders" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_DistributionsRecordedToPreferredShareholders" xlink:to="psb_DistributionsRecordedToPreferredShareholders_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_DistributionsRecordedToPreferredShareholders_lbl" xml:lang="en-US">Cash paid and dividends accrued for preferred distributions.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_DistributionsRecordedToPreferredShareholders_lbl" xml:lang="en-US">Distributions Recorded To Preferred Shareholders</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_DistributionsRecordedToPreferredShareholders_lbl" xml:lang="en-US">Distributions recorded to preferred shareholders</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_CumulativeArrearageOfQuarterlyDividends" xlink:label="psb_CumulativeArrearageOfQuarterlyDividends" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_CumulativeArrearageOfQuarterlyDividends" xlink:to="psb_CumulativeArrearageOfQuarterlyDividends_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_CumulativeArrearageOfQuarterlyDividends_lbl" xml:lang="en-US">Number of quarterly dividends in arrearage before preferred shareholders can elect additional board members</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_CumulativeArrearageOfQuarterlyDividends_lbl" xml:lang="en-US">Cumulative Arrearage Of Quarterly Dividends</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_CumulativeArrearageOfQuarterlyDividends_lbl" xml:lang="en-US">Number of quarterly dividends in arrearage before preferred shareholders can elect additional board members</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_NumberOfAdditionalMembersRightToElect" xlink:label="psb_NumberOfAdditionalMembersRightToElect" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_NumberOfAdditionalMembersRightToElect" xlink:to="psb_NumberOfAdditionalMembersRightToElect_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_NumberOfAdditionalMembersRightToElect_lbl" xml:lang="en-US">Number of Additional Members Right To Elect</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_NumberOfAdditionalMembersRightToElect_lbl" xml:lang="en-US">Number of Additional Members Right To Elect</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_NumberOfAdditionalMembersRightToElect_lbl" xml:lang="en-US">Number of additional board members the preferred shareholders can elect in the case of an excess arrearage of quarterly dividends</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockAmountOfPreferredDividendsInArrears" xlink:label="us-gaap_PreferredStockAmountOfPreferredDividendsInArrears" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockAmountOfPreferredDividendsInArrears" xlink:to="us-gaap_PreferredStockAmountOfPreferredDividendsInArrears_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockAmountOfPreferredDividendsInArrears_lbl" xml:lang="en-US">Preferred Stock, Amount of Preferred Dividends in Arrears</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PreferredStockAmountOfPreferredDividendsInArrears_lbl" xml:lang="en-US">Dividends in arrears</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockRedemptionPricePerShare" xlink:label="us-gaap_PreferredStockRedemptionPricePerShare" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockRedemptionPricePerShare" xlink:to="us-gaap_PreferredStockRedemptionPricePerShare_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockRedemptionPricePerShare_lbl" xml:lang="en-US">Preferred Stock, Redemption Price Per Share</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PreferredStockRedemptionPricePerShare_lbl" xml:lang="en-US">Redeemable preferred stock, redemption price per share</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_PreferredStockAggregateDeferredIssuanceCostsOutstanding" xlink:label="psb_PreferredStockAggregateDeferredIssuanceCostsOutstanding" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_PreferredStockAggregateDeferredIssuanceCostsOutstanding" xlink:to="psb_PreferredStockAggregateDeferredIssuanceCostsOutstanding_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_PreferredStockAggregateDeferredIssuanceCostsOutstanding_lbl" xml:lang="en-US">Preferred Stock, Aggregate Deferred Issuance Costs Outstanding</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_PreferredStockAggregateDeferredIssuanceCostsOutstanding_lbl" xml:lang="en-US">Preferred Stock, Aggregate Deferred Issuance Costs Outstanding</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_PreferredStockAggregateDeferredIssuanceCostsOutstanding_lbl" xml:lang="en-US">Preferred stock, aggregate deferred issuance costs outstanding</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_ShareholdersEquityTable" xlink:label="psb_ShareholdersEquityTable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_ShareholdersEquityTable" xlink:to="psb_ShareholdersEquityTable_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_ShareholdersEquityTable_lbl" xml:lang="en-US">Shareholders' Equity [Table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_ShareholdersEquityTable_lbl" xml:lang="en-US">Shareholders' Equity [Table]</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_ShareRepurchaseProgramByRepurchasePeriodAxis" xlink:label="psb_ShareRepurchaseProgramByRepurchasePeriodAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_ShareRepurchaseProgramByRepurchasePeriodAxis" xlink:to="psb_ShareRepurchaseProgramByRepurchasePeriodAxis_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_ShareRepurchaseProgramByRepurchasePeriodAxis_lbl" xml:lang="en-US">Share repurchase program, by repurchase period [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_ShareRepurchaseProgramByRepurchasePeriodAxis_lbl" xml:lang="en-US">Share Repurchase Program, By Repurchase Period [Axis]</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_ShareRepurchaseProgramByRepurchasePeriodDomain" xlink:label="psb_ShareRepurchaseProgramByRepurchasePeriodDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_ShareRepurchaseProgramByRepurchasePeriodDomain" xlink:to="psb_ShareRepurchaseProgramByRepurchasePeriodDomain_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_ShareRepurchaseProgramByRepurchasePeriodDomain_lbl" xml:lang="en-US">Share repurchase program, by repurchase period [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_ShareRepurchaseProgramByRepurchasePeriodDomain_lbl" xml:lang="en-US">Share Repurchase Program By Repurchase Period [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_ShareRepurchaseProgramByRepurchasePeriodDomain_lbl" xml:lang="en-US">Share Repurchase Program, By Repurchase Period [Domain]</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_SinceInceptionMember" xlink:label="psb_SinceInceptionMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_SinceInceptionMember" xlink:to="psb_SinceInceptionMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_SinceInceptionMember_lbl" xml:lang="en-US">Since inception [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_SinceInceptionMember_lbl" xml:lang="en-US">Since Inception [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_SinceInceptionMember_lbl" xml:lang="en-US">Since Inception [Member]</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_ShareholdersEquityLineItems" xlink:label="psb_ShareholdersEquityLineItems" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_ShareholdersEquityLineItems" xlink:to="psb_ShareholdersEquityLineItems_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_ShareholdersEquityLineItems_lbl" xml:lang="en-US">Shareholders' Equity [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_ShareholdersEquityLineItems_lbl" xml:lang="en-US">Shareholders' Equity [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:label="us-gaap_StockIssuedDuringPeriodSharesNewIssues" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:to="us-gaap_StockIssuedDuringPeriodSharesNewIssues_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodSharesNewIssues_lbl" xml:lang="en-US">Stock Issued During Period, Shares, New Issues</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_StockIssuedDuringPeriodSharesNewIssues_lbl" xml:lang="en-US">Shares issued or sold</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:label="us-gaap_ProceedsFromIssuanceOfCommonStock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:to="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl" xml:lang="en-US">Proceeds from Issuance of Common Stock</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl" xml:lang="en-US">Proceeds from issuance of common stock</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased" xlink:label="us-gaap_StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased" xlink:to="us-gaap_StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased_lbl" xml:lang="en-US">Stock Repurchase Program, Number of Shares Authorized to be Repurchased</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased_lbl" xml:lang="en-US">Shares authorized for repurchase</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockRepurchasedDuringPeriodShares" xlink:label="us-gaap_StockRepurchasedDuringPeriodShares" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockRepurchasedDuringPeriodShares" xlink:to="us-gaap_StockRepurchasedDuringPeriodShares_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockRepurchasedDuringPeriodShares_lbl" xml:lang="en-US">Stock Repurchased During Period, Shares</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_StockRepurchasedDuringPeriodShares_lbl" xml:lang="en-US">Aggregate number of common stock repurchased in the period</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:label="us-gaap_PaymentsForRepurchaseOfCommonStock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:to="us-gaap_PaymentsForRepurchaseOfCommonStock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsForRepurchaseOfCommonStock_lbl" xml:lang="en-US">Payments for Repurchase of Common Stock</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_PaymentsForRepurchaseOfCommonStock_lbl" xml:lang="en-US">Aggregate cost of shares repurchased</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_TreasuryStockAcquiredAverageCostPerShare" xlink:label="us-gaap_TreasuryStockAcquiredAverageCostPerShare" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TreasuryStockAcquiredAverageCostPerShare" xlink:to="us-gaap_TreasuryStockAcquiredAverageCostPerShare_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TreasuryStockAcquiredAverageCostPerShare_lbl" xml:lang="en-US">Treasury Stock Acquired, Average Cost Per Share</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_TreasuryStockAcquiredAverageCostPerShare_lbl" xml:lang="en-US">Average cost per share of common stock</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased" xlink:label="us-gaap_StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased" xlink:to="us-gaap_StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased_lbl" xml:lang="en-US">Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased_lbl" xml:lang="en-US">Shares available for repurchase under existing repurchase program</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockDividendsPerShareCashPaid" xlink:label="us-gaap_CommonStockDividendsPerShareCashPaid" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockDividendsPerShareCashPaid" xlink:to="us-gaap_CommonStockDividendsPerShareCashPaid_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockDividendsPerShareCashPaid_lbl" xml:lang="en-US">Common Stock, Dividends, Per Share, Cash Paid</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockDividendsPerShareCashPaid_lbl" xml:lang="en-US">Common stock distributions per share</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_EquityStockSharesAuthorized" xlink:label="psb_EquityStockSharesAuthorized" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_EquityStockSharesAuthorized" xlink:to="psb_EquityStockSharesAuthorized_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_EquityStockSharesAuthorized_lbl" xml:lang="en-US">The maximum number of equity stock permitted to be issued by an entity's charter and bylaws.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_EquityStockSharesAuthorized_lbl" xml:lang="en-US">Equity stock, shares authorized</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementClassOfStockAxis" xlink:label="us-gaap_StatementClassOfStockAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementClassOfStockAxis" xlink:to="us-gaap_StatementClassOfStockAxis_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementClassOfStockAxis_lbl" xml:lang="en-US">Class of Stock [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ClassOfStockDomain" xlink:label="us-gaap_ClassOfStockDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ClassOfStockDomain" xlink:to="us-gaap_ClassOfStockDomain_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ClassOfStockDomain_lbl" xml:lang="en-US">Class Of Stock [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ClassOfStockDomain_lbl" xml:lang="en-US">Class of Stock [Domain]</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_SeriesRMember" xlink:label="psb_SeriesRMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_SeriesRMember" xlink:to="psb_SeriesRMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_SeriesRMember_lbl" xml:lang="en-US">Series R [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_SeriesRMember_lbl" xml:lang="en-US">Series R [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_SeriesRMember_lbl" xml:lang="en-US">Series R [Member]</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_SeriesSMember" xlink:label="psb_SeriesSMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_SeriesSMember" xlink:to="psb_SeriesSMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_SeriesSMember_lbl" xml:lang="en-US">Series S [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_SeriesSMember_lbl" xml:lang="en-US">Series S [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_SeriesSMember_lbl" xml:lang="en-US">Series S [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockRedemptionDate" xlink:label="us-gaap_PreferredStockRedemptionDate" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockRedemptionDate" xlink:to="us-gaap_PreferredStockRedemptionDate_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockRedemptionDate_lbl" xml:lang="en-US">Redemption date</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PreferredStockRedemptionDate_lbl" xml:lang="en-US">Earliest Potential Redemption Date</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:label="us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:to="us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_lbl" xml:lang="en-US">Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AwardTypeAxis" xlink:label="us-gaap_AwardTypeAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AwardTypeAxis" xlink:to="us-gaap_AwardTypeAxis_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AwardTypeAxis_lbl" xml:lang="en-US">Award Type [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:to="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_lbl" xml:lang="en-US">Share Based Compensation Arrangements By Share Based Payment Award Award Type And Plan Name [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_lbl" xml:lang="en-US">Award Type [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RestrictedStockMember" xlink:label="us-gaap_RestrictedStockMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RestrictedStockMember" xlink:to="us-gaap_RestrictedStockMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RestrictedStockMember_lbl" xml:lang="en-US">Restricted Stock [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RestrictedStockMember_lbl" xml:lang="en-US">Restricted Stock [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_lbl" xml:lang="en-US">Number of shares covered under Stock Option and Incentive Plan</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_lbl" xml:lang="en-US">Options granted</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_lbl" xml:lang="en-US">Number of Units, Granted</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_lbl" xml:lang="en-US">Restricted stock units granted</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_lbl" xml:lang="en-US">Options and restricted stock units authorized to grant</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfDefinedTargets" xlink:label="psb_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfDefinedTargets" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfDefinedTargets" xlink:to="psb_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfDefinedTargets_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfDefinedTargets_lbl" xml:lang="en-US">The maximum number of defined targets for the Company to achieve for restricted stock units to vest.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfDefinedTargets_lbl" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Number Of Defined Targets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfDefinedTargets_lbl" xml:lang="en-US">Number of defined targets to achieve for restricted stock unit awards, maximum</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfDefinedTargetsMinimum" xlink:label="psb_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfDefinedTargetsMinimum" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfDefinedTargetsMinimum" xlink:to="psb_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfDefinedTargetsMinimum_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfDefinedTargetsMinimum_lbl" xml:lang="en-US">The minimum number of defined targets for the Company to achieve for restricted stock units to vest.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfDefinedTargetsMinimum_lbl" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award, Number Of Defined Targets, Minimum</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfDefinedTargetsMinimum_lbl" xml:lang="en-US">Number of defined targets to achieve for restricted stock unit awards, minimum</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1_lbl" xml:lang="en-US">Length of Restricted Stock Unit program (in years)</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAnnualInstallments" xlink:label="psb_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAnnualInstallments" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAnnualInstallments" xlink:to="psb_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAnnualInstallments_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAnnualInstallments_lbl" xml:lang="en-US">Number of annual vesting installments.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAnnualInstallments_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Number Of Annual Installments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAnnualInstallments_lbl" xml:lang="en-US">Number of annual vesting installments</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockGrantedPerYearMaximum" xlink:label="psb_ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockGrantedPerYearMaximum" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockGrantedPerYearMaximum" xlink:to="psb_ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockGrantedPerYearMaximum_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockGrantedPerYearMaximum_lbl" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Restricted Stock Granted Per Year, Maximum</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockGrantedPerYearMaximum_lbl" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Restricted Stock Granted Per Year, Maximum</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockGrantedPerYearMaximum_lbl" xml:lang="en-US">Approximate number of restricted stock units granted per year, maximum</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockGrantedMaximum" xlink:label="psb_ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockGrantedMaximum" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockGrantedMaximum" xlink:to="psb_ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockGrantedMaximum_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockGrantedMaximum_lbl" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Restricted Stock Granted, Maximum</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockGrantedMaximum_lbl" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Restricted Stock Granted, Maximum</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockGrantedMaximum_lbl" xml:lang="en-US">Cumulative number of restricted stock units granted</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_RestrictedStockExpense_lbl" xml:lang="en-US">Restricted stock units expense</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_lbl" xml:lang="en-US">Employee Service Share-based Compensation, Unrecognized Compensation Costs on Nonvested Awards</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_lbl" xml:lang="en-US">Unamortized compensation expense</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_lbl" xml:lang="en-US">Employee Service Share-based Compensation, Unrecognized Compensation Costs on Nonvested Awards, Weighted Average Period of Recognition</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_lbl" xml:lang="en-US">Weighted average recognized period of unamortized compensation expenses (in years)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Total Intrinsic Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue_lbl" xml:lang="en-US">Aggregate intrinsic value of the stock options exercised</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_lbl" xml:lang="en-US">Number of Units, Vested</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_lbl" xml:lang="en-US">Number of units vested</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Total Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue_lbl" xml:lang="en-US">Aggregate fair value of the shares vested</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ShareBasedGoodsAndNonemployeeServicesTransactionSharesApprovedForIssuance" xlink:label="us-gaap_ShareBasedGoodsAndNonemployeeServicesTransactionSharesApprovedForIssuance" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedGoodsAndNonemployeeServicesTransactionSharesApprovedForIssuance" xlink:to="us-gaap_ShareBasedGoodsAndNonemployeeServicesTransactionSharesApprovedForIssuance_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedGoodsAndNonemployeeServicesTransactionSharesApprovedForIssuance_lbl" xml:lang="en-US">Share-based Goods and Nonemployee Services Transaction, Shares Approved for Issuance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedGoodsAndNonemployeeServicesTransactionSharesApprovedForIssuance_lbl" xml:lang="en-US">Shares approved for issuance</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_NumberOfSharesGrantedForEachYearServed" xlink:label="psb_NumberOfSharesGrantedForEachYearServed" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_NumberOfSharesGrantedForEachYearServed" xlink:to="psb_NumberOfSharesGrantedForEachYearServed_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_NumberOfSharesGrantedForEachYearServed_lbl" xml:lang="en-US">Number of Shares Granted for Each Year Served</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_NumberOfSharesGrantedForEachYearServed_lbl" xml:lang="en-US">Number of Shares Granted for Each Year Served</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_NumberOfSharesGrantedForEachYearServed_lbl" xml:lang="en-US">Number of shares granted for each year served</label>
    <loc xlink:type="locator" xlink:href="psb-20140331.xsd#psb_MaximumNumberOfSharesIssuedUponRetirement" xlink:label="psb_MaximumNumberOfSharesIssuedUponRetirement" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="psb_MaximumNumberOfSharesIssuedUponRetirement" xlink:to="psb_MaximumNumberOfSharesIssuedUponRetirement_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="psb_MaximumNumberOfSharesIssuedUponRetirement_lbl" xml:lang="en-US">Maximum Number of Shares Issued Upon Retirement</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_MaximumNumberOfSharesIssuedUponRetirement_lbl" xml:lang="en-US">Maximum Number of Shares Issued Upon Retirement</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_MaximumNumberOfSharesIssuedUponRetirement_lbl" xml:lang="en-US">Maximum number of shares issued upon retirement</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_lbl" xml:lang="en-US">Number of Options, Outstanding</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_lbl" xml:lang="en-US">Number of Options, Outstanding</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_lbl" xml:lang="en-US">Number of Options, Exercisable at March 31, 2014</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_lbl" xml:lang="en-US">Weighted Average Exercise Price, Outstanding</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_lbl" xml:lang="en-US">Weighted Average Exercise Price, Outstanding</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_lbl" xml:lang="en-US">Weighted Average Exercise Price, Exercised</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_lbl" xml:lang="en-US">Weighted Average Exercise Price, Exercisable at March 31, 2014</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_lbl" xml:lang="en-US">Weighted Average Remaining Contract Life, Outstanding at March 31, 2014</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_lbl" xml:lang="en-US">Weighted Average Remaining Contract Life, Exercisable at March 31, 2014</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_lbl" xml:lang="en-US">Aggregate Intrinsic Value, Outstanding at March 31, 2014</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RelatedPartyDomain_lbl" xml:lang="en-US">Related Party [Domain]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_PublicStorageMember_lbl" xml:lang="en-US">Public Storage [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_PublicStorageMember_lbl" xml:lang="en-US">PS [Member]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_SeriesUMember_lbl" xml:lang="en-US">Series U [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_SeriesUMember_lbl" xml:lang="en-US">Series U [Member]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="psb_TwoThousandTwelveEquityAndPerformanceBasedIncentiveCompensationPlanMember_lbl" xml:lang="en-US">Two Thousand Twelve Equity And Performance Based Incentive Compensation Plan [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="psb_TwoThousandTwelveEquityAndPerformanceBasedIncentiveCompensationPlanMember_lbl" xml:lang="en-US">2012 Plan [Member]</label>
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