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Franklin Street Properties seeks sale of 4.6 million square feet office portfolio

CRE Daily · ·by G4L

FSP
FSP Franklin Street Properties Corp
$0.41 +5.74%
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  1. 1Franklin Street Properties has put an office portfolio consisting of 11 buildings up for sale.
  2. 2The total area of the Franklin Street Properties portfolio, 4.6 million square feet, includes northern Texas, Houston, Denver, and Minneapolis.
  3. 3JLL is handling the sale and stated that the price will be at a significant discount compared to replacement costs.

So what's the key point?

Franklin Street Properties is looking to sell a group of 11 buildings. The transaction is expected to take place at a much lower price than the cost of building new ones.

Source CRE Daily · View original ↗

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