Franklin Street Properties Corp. Announces Leasing Activity
November 27 2018 - 4:30PM
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,
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