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 entered into a lease with Common Grounds Minneapolis I, LLC at
801 Marquette Avenue in Minneapolis, Minnesota, and that it finalized a
lease renewal with VMware, Inc. at 380 Interlocken in Broomfield,
Colorado.
The lease with Common Grounds is for approximately 27,478 square feet
and has a term of 130-months from the commencement date. The lease is
scheduled to expire in 2030.
The lease renewal with VMware extended the term of the existing
approximately 95,754 square foot lease from October 31, 2018 to May 31,
2026. VMware has been a tenant at 380 Interlocken since 2008.
George J. Carter, Chairman and Chief Executive Officer, commented as
follows:
“We welcome the opportunity to build a new relationship with Common
Grounds, and we greatly value and are pleased to continue our
long-lasting relationship with VMware.”
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.