WAKEFIELD, Mass.--(BUSINESS WIRE)--
Franklin Street Properties Corp. (the “Company”, “FSP”, “we” or “our”)
(NYSE American: FSP), a real estate investment trust (REIT), announced
that it has finalized lease renewals with The Vail Corporation (“Vail”)
at 390 Interlocken in Broomfield, Colorado, and with the Internal
Revenue Service (the “IRS”) at 1999 Broadway in Denver, Colorado.
The lease renewal with Vail allows the Company to both retain and expand
the tenant into approximately 164,636 square feet at 390 Interlocken in
Broomfield, Colorado, through March 2030. Vail has been an important
tenant at 390 Interlocken since 2006, when it moved its corporate
headquarters to the property.
The lease renewal with the IRS allows the Company to retain the tenant
in approximately 153,565 square feet at 1999 Broadway in Denver,
Colorado, through May 2020. The IRS has been an important tenant at 1999
Broadway since its relocation to the property in 2008.
These lease renewals translate into a combined total of approximately
318,201 square feet.
George J. Carter, Chairman and Chief Executive Officer, commented as
follows:
“We greatly value our relationships with both Vail and the IRS, and are
pleased to continue our association with them. With these lease
renewals, we believe that we have addressed the lease expirations of two
of our largest tenants, at attractive terms, and strengthened our
portfolio.”
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 five
core 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.fspreit.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. 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,
2017, 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.
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For Franklin Street Properties Corp.
Georgia Touma, 877-686-9496
Source: Franklin Street Properties Corp.