Franklin Street Properties Corp. Announces Leasing Activity
WAKEFIELD, Mass.--(BUSINESS WIRE)--Nov 27, 2018--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.
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.
View source version on businesswire.com:https://www.businesswire.com/news/home/20181127005654/en/
CONTACT: For Franklin Street Properties Corp.
Georgia Touma, 877-686-9496
KEYWORD: UNITED STATES NORTH AMERICA MASSACHUSETTS
INDUSTRY KEYWORD: REIT CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE OTHER CONSTRUCTION & PROPERTY
SOURCE: Franklin Street Properties Corp.
Copyright Business Wire 2018.
PUB: 11/27/2018 04:30 PM/DISC: 11/27/2018 04:30 PM