SOURCE: Franklin Street Properties Corp.

November 20, 2009 12:35 ET

Franklin Street Properties Corp. Achieves the First Existing Buildings: Operations & Maintenance LEED® Certification in the State of Indiana

WAKEFIELD, MA--(Marketwire - November 20, 2009) - Franklin Street Properties Corp. ("FSP", "we", "our" or "its") (NYSE Amex: FSP), an investment firm specializing in real estate, today announced that its office buildings located at 3815 and 3925 River Crossing Parkway, Indianapolis, Indiana, have received LEED Silver Certification by the U.S. Green Building Council ("USGBC") in the Leadership in Energy and Environmental Design ("LEED") for Existing Buildings: Operations & Maintenance ("LEED-EB: O&M").

To attain LEED-EB: O&M certification, a building must address five broad categories: sustainable site maintenance, water efficiency, energy and atmosphere, materials and resources and indoor environmental quality. This is the first project in the State of Indiana to become certified under the Existing Buildings: Operations & Maintenance rating system and we wish to acknowledge the contributions of Gibraltar Properties and Urban Design.

Our River Crossing property consists of two multi-tenant office buildings containing an aggregate of approximately 205,000 rentable square feet. To earn certification, we improved River Crossing's plumbing fixtures, providing the property with a water efficiency of more than 30% above the LEED-EB: O&M baseline case. All landscaping water is provided from a non-potable source: a 25-acre man-made lake that borders the south property line. In addition, storm water drains into the lake, keeping it out of the city's municipal storm water lines. Per the Energy Star Portfolio Manager program, our River Crossing property now boasts an average score of 93, meaning it is more energy efficient than 93% of comparable office buildings throughout the United States. Other important property highlights include the recycling efforts of our tenants, which resulted in diverting over 70% of all ongoing consumables from the waste stream and the implementation of a green cleaning program.

According to Rick Fedrizzi, President, CEO & Founding Chair of USGBC, "River Crossing's LEED certification demonstrates tremendous green building leadership. The urgency of USGBC's mission has challenged the industry to move faster and reach further than ever before, and River Crossing serves as a prime example with just how much we can accomplish."

FSP is committed to "greening" its portfolio of buildings and its operations in a manner that is sensitive to both our tenants and investors. We believe that investing in environmentally sound practices is good business and will enhance the value of our portfolio. Our goal is to get as many of our properties LEED certified as possible by starting with changes that require no cost or low cost or that have the potential to create savings in energy usage and other costs. In most cases, that involves looking for energy savings first, as well as pursuing the EPA's Energy Star ratings, and doing simple things like recycling and changing to green products for cleaning. Where we have already taken those first steps, we are now evaluating the costs and returns of additional investments to ensure that they will help achieve our environmental and investment goals.

Of the 44 properties either directly owned by FSP or asset-managed by FSP, 14 have received the Energy Star label, 3 have obtained LEED certification under the Existing Buildings rating system, and 1 under the Commercial Interiors rating system. Additional properties in our portfolio are registered and actively pursuing LEED certifications. FSP has a LEED AP (Accredited Professional) on staff to assist in the certification process.

About Franklin Street Properties Corp.

Franklin Street Properties Corp., based in Wakefield, Massachusetts, is focused on achieving current income and long-term growth through investments in commercial properties. FSP operates in two business segments: real estate operations and investment banking/investment services. The majority of FSP's property portfolio is suburban office buildings, with select investments in certain central business district properties. FSP's subsidiary, FSP Investments LLC (member, FINRA and SIPC), is a real estate investment banking firm and a registered broker/dealer. FSP is a Maryland corporation that operates in a manner intended to qualify as a real estate investment trust (REIT) for federal income tax purposes. To learn more about FSP please visit our website at

About Gibraltar Properties

Gibraltar Properties, Inc. is a real estate holding, development, construction and management company that is focused on commercial, retail, and multi-family properties. Based in Indianapolis, the majority of its properties are located in the suburban Indianapolis area. Gilbraltar Properties' subsidiary, Gibraltar Management, Inc., oversees the daily operations of its own portfolio as well as properties of other real estate investors.

About Urban Design

Urban Design, was established in March 2007, with the sole purpose of providing support for sustainable construction and building activities. Urban Design provides documentation, energy modeling, and support for all commercial building LEED rating systems including LEED for New Construction and Renovations, LEED for Core and Shell buildings, LEED for Commercial Interiors and tenant improvement, LEED for Schools, and LEED for Existing Buildings: Operations & Maintenance. Urban Design is established as a Women's Business Enterprise (WBE) with the State of Indiana and the City of Indianapolis. The firm is a member of US Green Building Council and encourages all members of its staff to be LEED® Accredited Professionals and individual members of USGBC Indiana. To learn more about Urban Design, please visit our website at

Forward-Looking Statements

Statements made in this press release regarding potential future environmental enhancements to our properties constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current judgments and current knowledge of management, which are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those indicated in such forward-looking statements, including without limitation, economic conditions in the United States, disruptions in the debt markets, economic conditions in the markets in which we own properties, changes in the demand by investors for investment in Sponsored REITs (as defined in our Annual Report on Form 10-K for the year ended December 31, 2008), risks of a lessening of demand for the types of real estate owned by us, changes in government regulations, and expenditures that cannot be anticipated such as utility rate and usage increases, unanticipated repairs, additional staffing, insurance increases and real estate tax valuation reassessments. See the "Risk Factors" set forth in Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2008, as the same may be updated from time to time in subsequent filings with the SEC. Although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. We will not update any of the forward-looking statements after the date of this press release to conform them to actual results or to changes in our expectations that occur after such date, other than as required by law.

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