Franklin Street Properties Corp. Announces the Sale of 4820 Emperor Boulevard in Durham, North Carolina for $89.7 Million
WAKEFIELD, Mass.--(BUSINESS WIRE)--Franklin Street Properties Corp. (the “Company”, “FSP”, “our” or “we”) (NYSE American: FSP), a real estate investment trust (REIT), announced today the sale of its only property in Durham, North Carolina (the “Property”) for gross proceeds of $89.7 million, or approximately $346 per square foot. The Property is located at 4820 Emperor Boulevard and consists of an approximately 259,531 square foot office building that is 100% leased to a tenant in the life sciences industry.
The Company expects to record a gain of approximately $42 million in the fourth quarter of 2020 in connection with the sale of the Property. The Company intends to use net proc
