WAKEFIELD, Mass.--(BUSINESS WIRE)--
Franklin Street Properties Corp. (“FSP” or “we”) (NYSE MKT: FSP)
announced today its acquisition of a 20-story, multi-tenant office
building and retail plaza containing approximately 655,565 rentable
square feet of space located in the central business district of Denver,
Colorado (the “Property”) for a purchase price of $217,000,000. The
Property is located at 1001 17th Street, is approximately 74% occupied
and is approximately 89% leased, with the difference primarily
attributable to approximately 100,000 rentable square feet of new leases
scheduled to commence in November and December of 2013.
This acquisition brings our total portfolio of directly-owned properties
to 40 containing an aggregate of approximately 9,813,708 rentable square
feet.
This press release, along with other news about FSP, is available on the
Internet at www.franklinstreetproperties.com.
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About Franklin Street Properties Corp.
Franklin Street Properties Corp., based in Wakefield, Massachusetts, is
focused on investing in institutional-quality office properties in the
U.S. FSP’s strategy is to invest in select urban infill and central
business district (CBD) properties, with primary emphasis on our top
five markets of Atlanta, Dallas, Denver, Houston, and Minneapolis. FSP
seeks value-oriented investments with an eye towards long-term growth
and appreciation, as well as current income. 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.
Franklin Street Properties Corp.
John Demeritt, 877-686-9496
Source: Franklin Street Properties Corp.