SOURCE: Franklin Street Properties Corp.

July 17, 2007 12:40 ET

Franklin Street Properties Corp. Announces Sale of Westford, Massachusetts Property

WAKEFIELD, MA--(Marketwire - July 17, 2007) - Franklin Street Properties Corp. ("FSP") (AMEX: FSP), an investment firm specializing in real estate, announced today its sale on July 16, 2007 of a suburban office property located in Westford, Massachusetts. This property is a single-story building containing approximately 104,711 square feet and is located on approximately 19.74 acres. Gross proceeds from the sale of the property were approximately $11.5 million, which resulted in a net gain of approximately $1.9 million.

Proceeds from the sale will be reinvested.

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. FSP owns an unleveraged portfolio of real estate. The majority of FSP's property portfolio is suburban office buildings. FSP's subsidiary, FSP Investments LLC (member, NASD 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

Contact Information

  • Contact:
    Donna Brownell:
    877-686-9496