WAKEFIELD, Mass.--(BUSINESS WIRE)--Franklin Street Properties Corp. (“FSP” or “we”) (NYSE MKT: FSP) announced today its acquisition of a 20-story, multi-tenant office building and retail plaza containing approximately 655,565 rentable square feet of space located in the central business district of Denver, Colorado (the “Property”) for a purchase price of $217,000,000. The Property is located at 1001 17th Street, is approximately 74% occupied and is approximately 89% leased, with the difference primarily attributable to approximately 100,000 rentable square feet of new leases scheduled to commence in November and December of 2013.
This acquisition brings our total portfolio of directly-owned properties to 40 containing an aggregate of approximately 9,813,708 rentable square feet.
This press release, along with other news about FSP, is available on the Internet at www.franklinstreetproperties.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 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 top five 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.franklinstreetproperties.com.