Franklin Street Properties Corp. Acquires Office Property in Atlanta, Georgia

Franklin Street Properties Corp. Acquires Office Property in Atlanta, Georgia

WAKEFIELD, Mass.--(BUSINESS WIRE)-- Franklin Street Properties Corp. ("FSP" or "we") (NYSE MKT: FSP) announced today its acquisition of a 28-story, multi-tenant office building containing approximately 621,007 rentable square feet of space and a parking garage located in the midtown submarket of Atlanta, Georgia (the "Property") for a purchase price of $157,900,000. The Property is located at 999 Peachtree Street, was completed in 1987 and is approximately 95% leased.

This acquisition brings our total portfolio of directly-owned properties to 39 containing an aggregate of approximately 9,158,143 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.

Franklin Street Properties Corp.
John Demeritt, 877-686-9496

KEYWORDS: United States North America Georgia Massachusetts

INDUSTRY KEYWORDS:

The article Franklin Street Properties Corp. Acquires Office Property in Atlanta, Georgia originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.