Franklin Street Properties Corp. Announces Leasing Updates
January 14 2021 - 11:30AM
Business Wire
Franklin Street Properties Corp. (the “Company”, “FSP”, “its”,
“our” or “we”) (NYSE American: FSP), a real estate investment trust
(REIT), announced today leasing updates, effective in the fourth
quarter of 2020, at its Timberlake Corporate Center property in
Chesterfield, Missouri and at its Meadow Point property in
Chantilly, Virginia.
Timberlake Corporate Center,
Chesterfield, Missouri
Existing tenant Centene Management Company entered into an
amendment to its lease to extend and expand its leased square
footage by approximately 100,000 rentable square feet, from
approximately 217,000 rentable square feet to approximately 317,000
rentable square feet. The term was extended by 84-months, with the
term of the lease now expiring on June 30, 2030.
Meadow Point, Chantilly,
Virginia
Existing tenant Booz Allen Hamilton entered into an amendment to
its lease to extend and expand its leased square footage by
approximately 29,000 rentable square feet, from approximately
34,000 rentable square feet to approximately 63,000 rentable square
feet. The term of the expansion is 67-months, with the term of the
lease now expiring on July 31, 2027.
George J. Carter, Chairman and Chief Executive Officer of FSP,
commented as follows:
“These expansions bring Timberlake Corporate Center to 100%
leased and Meadow Point to 91.1% leased. We greatly value and are
pleased to continue our long-standing relationships with Centene
and Booz Allen Hamilton.”
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.
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