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Franklin Street Properties Corp.: Franklin Street Properties Corp. Acquires Two Buildings in Sterling, Virginia

^{Published on 2008-12-23 12:40:45, Last Modified on 2008-12-23 12:41:10 - Market Wire}
 

WAKEFIELD, MA--(Marketwire - December 23, 2008) - Franklin Street Properties Corp. ("FSP") (NYSE Alternext US: [ FSP ]) (AMEX: [ FSP ]), an investment firm specializing in real estate, announced today its acquisition of two buildings in Sterling, Virginia for a purchase price of $18,500,000. Completed in 1999, the buildings contain an aggregate of approximately 135,000 square feet of rentable space and are 100% leased. The buildings are currently used as flexible space, including office, storage and light assembly/manufacturing. Sterling is located within the greater Washington, D.C. metropolitan area and is approximately five miles from Dulles International Airport. FSP has owned suburban properties in the greater Washington, D.C. metropolitan area since 2001.

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 operates in two business segments: real estate operations and investment banking/investment services. The majority of FSP's property portfolio is suburban office buildings, with select investments in certain central business district properties. FSP's subsidiary, FSP Investments LLC (member, FINRA and SIPC), is a real estate investment banking firm and a registered broker/dealer. 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 ].