Franklin Street Properties Corp. Acquires Office Property in Denver, Colorado
WAKEFIELD, Mass.--(BUSINESS WIRE)-- Franklin Street Properties Corp. ("FSP" or "we") (NYSE MKT: FSP) announced today its acquisition of a 43-story, multi-tenant office building containing approximately 680,277 rentable square feet of space and a 9-story parking garage located in the central business district of Denver, Colorado (together, the "Property") for a purchase price of $183,000,000. The office building is located at 1999 Broadway and the parking garage is located at 2099 Welton Street. Completed in 1986, the office building is approximately 96% leased. Although the closing of the purchase of the Property had been scheduled to take place on July 1, 2013, we exercised our right to accelerate the closing date.
This acquisition brings our total portfolio of directly-owned properties to 38 containing an aggregate of approximately 8,537,136 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 achieving current income and long-term growth through investments in commercial properties. FSP's property portfolio consists of office properties. 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.
For Franklin Street Properties Corp.
John Demeritt, 877-686-9496
KEYWORDS: United States North America Colorado Massachusetts
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