SOURCE: Franklin Street Properties Corp.

January 28, 2011 12:07 ET

Franklin Street Properties Corp. Provides Leasing Updates

WAKEFIELD, MA--(Marketwire - January 28, 2011) - Franklin Street Properties Corp. ("FSP", "our", "us" or "we") (NYSE Amex: FSP), an investment firm specializing in real estate, is providing the following leasing updates:

  • On January 14, 2011, we entered into a new lease for approximately 66,226 square feet at our 197,527 square foot office property known as Greenwood Plaza located in Englewood, Colorado.

  • On January 28, 2011, we signed an extension of our lease with Amdocs, Inc. for approximately 91,928 square feet at our 232,766 square foot office property known as Timberlake located in Chesterfield, Missouri. We are happy to extend Amdocs' longstanding tenancy for their North American Headquarters at the property and look forward to continuing our relationship with them.

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.

Forward-Looking Statements

Statements made in this press release that state FSP's or management's intentions, beliefs, expectations, or predictions for the future may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. This press release may also contain forward-looking statements 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. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements. Investors are cautioned that our forward-looking statements involve risks and uncertainty, 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, 2009), 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, 2009, as the same may be updated from time to time in subsequent filings with the United States Securities and Exchange Commission. 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.

Contact Information

  • Contact:
    Investor Relations
    (877) 686-9496