SOURCE: Franklin Street Properties Corp.

December 12, 2008 11:12 ET

Franklin Street Properties Corp. Acquires Four-Story Office Building in Maryland Heights, Missouri

WAKEFIELD, MA--(Marketwire - December 12, 2008) - Franklin Street Properties Corp. ("FSP") (NYSE Alternext US: FSP) (AMEX: FSP), an investment firm specializing in real estate, announced today its acquisition on December 11, 2008 of a four-story office building in Maryland Heights, Missouri for a purchase price of $19,750,000.00. Completed in 2008, the office building contains approximately 127,000 square feet of rentable space and is 100% leased. Maryland Heights is a suburb of St. Louis. FSP has owned suburban office properties in the greater St. Louis area since 2001.

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 www.franklinstreetproperties.com.

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