Franklin Street Properties Corp. Announces Lease Extension with CITGO Petroleum Corporation
March 01 2021 - 11:46AM
Business Wire
Franklin Street Properties Corp. (“FSP”, “its”, “our” or “we”)
(NYSE American: FSP), a real estate investment trust (REIT),
announced today that it entered into a lease amendment with
existing tenant CITGO Petroleum Corporation at its Eldridge Green
property in Houston, Texas. The amendment extends the primary term
of CITGO’s approximately 250,000 square foot headquarters lease by
approximately 11 years, from February 28, 2022 to March 31,
2033.
George J. Carter, Chairman and Chief Executive Officer of FSP,
commented as follows:
“We greatly value and are pleased to continue our long-standing
relationship with CITGO Petroleum Corporation.”
About Franklin Street Properties Corp.
Franklin Street Properties Corp., based in Wakefield,
Massachusetts, is focused on infill and central business district
(CBD) office properties in the U.S. Sunbelt and Mountain West, as
well as select opportunistic markets. 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.fspreit.com.
Forward-Looking Statements
Statements made in this press release that state FSP’s or
management’s intentions, beliefs, expectations, or predictions for
the future may be forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. This press
release may also contain forward-looking statements based on
current judgments and current knowledge of management, which are
subject to certain risks, trends and uncertainties that could cause
actual results to differ materially from those indicated in such
forward-looking statements. Accordingly, readers are cautioned not
to place undue reliance on forward-looking statements. Investors
are cautioned that our forward-looking statements involve risks and
uncertainty. See the “Risk Factors” set forth in Part I, Item 1A of
our Annual Report on Form 10-K for the year ended December 31,
2020, as the same may be updated from time to time in subsequent
filings with the United States Securities and Exchange Commission.
Although we believe the expectations reflected in the
forward-looking statements are reasonable, we cannot guarantee
future results, levels of activity, performance or
achievements.
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For Franklin Street Properties Corp. Georgia Touma,
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