Franklin Street Properties Corp. Announces Sale of San Diego, California Property 
WAKEFIELD, MA (REIT Media) June 28, 2007 - Franklin Street Properties Corp. ("FSP") (AMEX:FSP), an investment firm specializing in real estate, announced today its sale on June 27, 2007 of a property known as "Goldentop Technology Center" located at 17030 Goldentop Road in San Diego, California. This property is an approximately 141,105 square foot R&D/Office facility situated on approximately eight acres of land. Gross proceeds from the sale of the property were approximately $37.0 million, which resulted in a net gain of approximately $14.7 million.
Proceeds from the sale of Goldentop Technology Center will be reinvested into another real estate asset.
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. FSP owns an unleveraged portfolio of real estate. The majority of FSP's property portfolio is suburban office buildings. FSP's subsidiary, FSP Investments LLC (member, NASD 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.
Source: Franklin Street Properties Corp.
Share It: 
Bookmark It: 
Jun.28.2007. 11:10
This article hasn't been commented yet.
* = required field