Franklin Street Properties Corp. Announces Three Redevelopment Properties Approximately 80% Leased

WAKEFIELD, Mass.--(BUSINESS WIRE)--Franklin Street Properties Corp. (“FSP”, “its”, “our” or “we”) (NYSE American: FSP), a real estate investment trust (REIT), announced today that its three redevelopment properties located in Charlotte, North Carolina, Miami, Florida, and Minneapolis, Minnesota are now approximately 80% leased. On September 24, 2020, FSP entered into a new lease for space at its Forest Park redevelopment property in Charlotte, North Carolina. The lease is for approximately 28,100 square feet and has an initial term of approximately seven years.

George J. Carter, Chairman and Chief Executive Officer of FSP, commented as follows:

“With the signing of this new lease at Forest Park, we are pleased to announce the achievement of this leasing milestone at our three redevelopment properties.”

This press release, along with other news about FSP, is available on the Internet at www.fspreit.com. We routinely post information that may be important to investors in the Investor Relations section of our website. We encourage investors to consult that section of our website regularly for important information about us and, if they are interested in automatically receiving news and information as soon as it is posted, to sign up for E-mail Alerts.

About Franklin Street Properties Corp.

Franklin Street Properties Corp., based in Wakefield, Massachusetts, is focused on infill and central business district (CBD) office properties in the U.S. Sunbelt and Mountain West, as well as select opportunistic markets. 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, 2019, 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.