Franklin Street Properties Corp.
New York Stock Exchange AmericanCapital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- CEO
- George John Carter
- Full Time Employees
- 28
- Sector
- Real Estate
- Industry
- REIT - Office
- Address
- 401 Edgewater Place Wakefield MA United States of America 01880
- IPO Date
- Jun 2, 2005
- CIK
- 0001031316
- Website
- fspreit.com
- Similar Companies
- Business
- Franklin Street Properties Corp. operates as a real estate investment trust (REIT) primarily focused on commercial real estate investments in office properties. The company’s core products and services include ownership, leasing, management, and strategic disposition of primarily Class A and B office properties located in growth-oriented central business district submarkets across key U.S. metropolitan areas including Atlanta, Dallas, Denver, Houston, and Minneapolis. Its portfolio comprises office space leasing to small to large businesses in technology, financial services, and government sectors, alongside property management services which cover tenant relations, lease administration, property maintenance, and asset improvement. Franklin Street Properties Corp. also engages in property acquisitions, redevelopments, and targeted capital improvements aimed at enhancing tenant satisfaction and maximizing asset value. Founded in 1997 and headquartered in Wakefield, Massachusetts, Franklin Street Properties Corp. has expanded its portfolio through significant acquisitions such as the 2014 purchase of 25 office properties from Patriot American Hospitality, securing a strong presence in key CBD office markets. The company operates predominantly within the U.S. Sunbelt and Mountain West regions and manages a portfolio of owned and consolidated properties totaling 18 office buildings. Recent significant developments include the ongoing strategic review process initiated in May 2025 to explore alternatives to maximize shareholder value. This review involves potential sale of the company or assets and refinancing of existing debt, currently in active negotiation with lenders. Additionally, in mid-2025, Franklin Street consolidated operations of its sponsored REIT Monument Circle and completed the sale of the related property. The company has also been focusing on improving leasing and occupancy rates amidst challenging office market conditions marked by evolving workplace dynamics and capital markets volatility, with signs of stabilization and increased tenant demand observed in 2025. Portfolio optimization continues through selective property sales, including the disposal of its last Virginia property in 2024, alongside prudent financial management to reduce debt and enhance balance sheet strength. The company’s leadership is headed by Chairman and CEO George J. Carter, and it maintains a disciplined approach to financial management and tenant-focused leasing strategies aimed at sustaining long-term growth and income generation. Franklin Street Properties Corp. emphasizes strategic property acquisition, active asset management, leasing optimization, and operational efficiency as pillars of its business model in the office real estate sector. Overall, Franklin Street Properties Corp. provides institutional and retail investors with exposure to a focused portfolio of commercial office properties through active investment, management, and transaction strategies designed to adapt to market conditions and enhance shareholder value.
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