<SEC-DOCUMENT>0001171520-12-000510.txt : 20120524
<SEC-HEADER>0001171520-12-000510.hdr.sgml : 20120524
<ACCEPTANCE-DATETIME>20120524160954
ACCESSION NUMBER:		0001171520-12-000510
CONFORMED SUBMISSION TYPE:	SC 13D/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20120524
DATE AS OF CHANGE:		20120524

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MCGILLICUDDY DENNIS J
		CENTRAL INDEX KEY:			0001240925

	FILING VALUES:
		FORM TYPE:		SC 13D/A

	MAIL ADDRESS:	
		STREET 1:		5111 OCEAN BOULEVARD
		STREET 2:		SUITE C
		CITY:			SARASOTA
		STATE:			FL
		ZIP:			34242

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FRANKLIN STREET PROPERTIES CORP /MA/
		CENTRAL INDEX KEY:			0001031316
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				042724223
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-79072
		FILM NUMBER:		12867688

	BUSINESS ADDRESS:	
		STREET 1:		401 EDGEWATER PLACE
		STREET 2:		STE 200
		CITY:			WAKEFIELD
		STATE:			MA
		ZIP:			01880
		BUSINESS PHONE:		7815571300

	MAIL ADDRESS:	
		STREET 1:		401 EDGEWATER PLACE
		STREET 2:		STE 200
		CITY:			WAKEFIELD
		STATE:			MA
		ZIP:			01880

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FRANKLIN STREET PARTNERS LP
		DATE OF NAME CHANGE:	20010301
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D/A
<SEQUENCE>1
<FILENAME>eps4274.htm
<DESCRIPTION>DENNIS J. MCGILLICUDDY
<TEXT>
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<P STYLE="margin: 0"></P>

<P STYLE="font: 9pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 9pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 9pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 9pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 9pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SCHEDULE 13D/A</B></P>

<P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Amendment No. 2)</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center">Under the Securities Exchange Act
of 1934</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 14pt"><B><U>Franklin
Street Properties Corp.</U></B></FONT></P>

<P STYLE="font: 9pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Name of Issuer)</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><U>Common Stock, par value $.0001 per share</U></P>

<P STYLE="font: 9pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Title of Class of Securities)</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><U>35471R106</U></P>

<P STYLE="font: 9pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">(CUSIP Number)</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">Dennis McGillicuddy</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">5111 Ocean Boulevard, Suite C</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">Sarasota, FL 34242</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><u>(941) 349-9200</u></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE=" font: 9pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Name, Address
        and Telephone Number of Person Authorized to Receive Notices and Communications)</P>
        <P STYLE="font: 9pt/12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
<TR>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; width: 30%; text-autospace: none; color: green">&nbsp;</TD>
    <TD STYLE="width: 44%; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="border-bottom: Black 0.75pt solid; font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">May
        22, 2012</P></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; width: 26%; text-autospace: none; color: green">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;(Date of Event which Requires Filing of this Statement)</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 8pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 9pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If the filing person has previously filed
a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because
of &sect;&sect;&nbsp;240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box <FONT STYLE="font-family: Wingdings">x</FONT>.</P>

<P STYLE="font: 9pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTE: Schedules filed in paper format should
include a signed original and five copies of the schedule, including all exhibits. See &sect;&nbsp;240.13d-7(b) for other parties
to whom copies are to be sent.</P>

<P STYLE="font: 9pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">*The remainder of this cover page shall
be filled out for a reporting person&rsquo;s initial filing on this form with respect to the subject class of securities, and for
any subsequent amendment containing information which would alter disclosures provided in a prior cover page.</P>

<P STYLE="font: 9pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The information required on the remainder
of this cover shall not be deemed to be &quot;filed&quot; for the purpose of Section 18 of the Securities Exchange Act of 1934
(&quot;Act&quot;) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions
of the Act (however, see the Notes).</P>

<P STYLE="font: 9pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 43%; border: windowtext 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none">CUSIP No.&nbsp; 35471R106</TD>
    <TD STYLE="width: 16%; font: 12pt Times New Roman, Times, Serif; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none; text-align: center">13D</TD>
    <TD STYLE="width: 41%; font: 9pt Times New Roman, Times, Serif; padding-top: 6pt; padding-left: 0.1in; text-autospace: none; text-align: center"><FONT STYLE="font-size: 10pt">Page
    2 of 5</FONT></TD></TR>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; font: 16pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none; text-align: center">1</TD>
    <TD COLSPAN="3" STYLE="border-top: windowtext 1pt solid; border-right: windowtext 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NAMES OF REPORTING PERSONS</P>
        <P STYLE="font: 8pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
        (entities only)</P>
        <P STYLE="font: 9pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>
        <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Dennis J. McGillicuddy</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; font: 16pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none; text-align: center">2</TD>
    <TD COLSPAN="3" STYLE="border: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">CHECK THE APPROPRIATE BOX IF A MEMBER OF
        A GROUP (See Instructions)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)</P>
        <P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0 0 0 4.4in; text-align: left"><FONT STYLE="font-size: 8pt">(b)</FONT><FONT STYLE="font-family: Wingdings">x</FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; font: 16pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none; text-align: center">3</TD>
    <TD COLSPAN="3" STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">SEC USE ONLY</P>
        <P STYLE="font: 9pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; font: 16pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none; text-align: center">4</TD>
    <TD COLSPAN="3" STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">SOURCE OF FUNDS (See Instructions)</P>
        <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">OO</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; font: 16pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none; text-align: center">5</TD>
    <TD COLSPAN="3" STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS
        IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)</P>
        <P STYLE="font: 8pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; font: 16pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none; text-align: center">6</TD>
    <TD COLSPAN="3" STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">CITIZENSHIP OR PLACE OF ORGANIZATION</P>
        <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify; text-indent: 58.5pt">USA</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-left: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 9pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">NUMBER OF<BR>
        SHARES</P></TD>
    <TD STYLE="border: windowtext 1pt solid; font: 16pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none; text-align: center">7</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">SOLE VOTING POWER</P>
        <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 0 0.4in">&nbsp;</P>
        <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 0 0.4in">0</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-left: windowtext 1pt solid; font: 9pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none; text-align: center">BENEFICIALLY<BR>
OWNED BY<BR>
EACH</TD>
    <TD STYLE="border: windowtext 1pt solid; font: 16pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none; text-align: center">8</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">SHARED VOTING POWER</P>
        <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 0 27.35pt; text-align: justify">23,037</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-left: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 9pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">REPORTING</P>
        <P STYLE="font: 9pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">PERSON<BR>
        WITH</P></TD>
    <TD STYLE="border: windowtext 1pt solid; font: 16pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none; text-align: center">9</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">SOLE DISPOSITIVE POWER</P>
        <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 0 27pt; text-align: justify">0</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-left: windowtext 1pt solid; font: 14pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none; text-align: center">&nbsp;</TD>
    <TD STYLE="border: windowtext 1pt solid; font: 16pt Times New Roman, Times, Serif; padding-top: 3pt; padding-left: 5.4pt; text-autospace: none; text-align: center">10</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">SHARED DISPOSITIVE POWER</P>
        <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 6pt 27.35pt; text-align: justify">3,581,396</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; font: bold 14pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: -0.05in; text-autospace: none; text-align: center">11</TD>
    <TD COLSPAN="3" STYLE="border: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">AGGREGATE AMOUNT BENEFICIALLY OWNED BY
        EACH REPORTING PERSON</P>
        <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>
        <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">3,581,396</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; font: 16pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: -0.05in; text-autospace: none; text-align: center">12</TD>
    <TD COLSPAN="3" STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">CHECK IF THE AGGREGATE AMOUNT IN ROW (11)
        EXCLUDES CERTAIN SHARES</P>
        <P STYLE="font: 8pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; font: 16pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: -0.05in; text-autospace: none; text-align: center">13</TD>
    <TD COLSPAN="3" STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 9pt">PERCENT OF
        CLASS REPRESENTED BY AMOUNT IN ROW (</FONT><FONT STYLE="font-size: 8pt">11)</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">4.3%</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; font: 16pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: -0.05in; text-autospace: none; text-align: center">14</TD>
    <TD COLSPAN="3" STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">TYPE OF REPORTING PERSON</P>
        <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0">IN</P></TD></TR>
<TR>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 9%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 81%">&nbsp;</TD></TR>
</TABLE>

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<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

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    <TD STYLE="width: 43%; border: windowtext 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none">CUSIP No.&nbsp; 35471R106</TD>
    <TD STYLE="width: 16%; font: 12pt Times New Roman, Times, Serif; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none; text-align: center">13D</TD>
    <TD STYLE="width: 41%; font: 9pt Times New Roman, Times, Serif; padding-top: 6pt; padding-left: 0.1in; text-autospace: none; text-align: center"><FONT STYLE="font-size: 10pt">Page
    3      of 5</FONT></TD></TR>
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<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center; padding-bottom: 0">&nbsp;</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B><U>SCHEDULE 13D</U></B></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">This Amendment No. 2 (&ldquo;<U>Amendment No.
2</U>&rdquo;) to Schedule 13D amends and supplements the statement on Schedule 13D filed with the Securities and Exchange Commission
(the &ldquo;<U>SEC</U>&rdquo;) on June 25, 2004 (the &ldquo;<U>Original Schedule 13D</U>&rdquo;), as amended by Amendment No. 1
(&ldquo;<U>Amendment No. 1</U>&rdquo;) filed with the SEC on May 3, 2005 (the Original Schedule 13D as amended, the &ldquo;<U>Schedule
13D</U>&rdquo;) relating to the common stock, par value 0.0001 per share (the &ldquo;<U>Common Stock</U>&rdquo;), of Franklin Street
Properties Corp. This Amendement No. 2 amends and restates Item 5 as set forth below. This is the final amendment to the Schedule
13D and constitutes an exit filing for the Reporting Persons.</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 0"><B>Item 5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest
in Securities of the Issuer.</B></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="color: green; font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in"><FONT STYLE="color: black">(a)&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="color: windowtext">The
percentages set forth in this Item 5 are based on 82,937,405 shares of Common Stock outstanding.</FONT></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">Mr. McGillicuddy beneficially owns 3,581,396
shares of Common Stock representing approximately 4.3% of the outstanding Common Stock.</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;Mr. McGillicuddy does not have sole
voting power or sole dispositive power with respect to any shares of Common Stock.</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">Mr. McGillicuddy may have shared voting and
shared dispositive power with respect to 23,037 shares of Common Stock, that are beneficially owned by his wife. Of the 23,037
shares beneficially owned by Mr. McGillicuddy&rsquo;s wife, 8,946 are held by trusts, of which Mr. McGillicuddy&rsquo;s wife is
the sole trustee, for the benefit of Mr. McGillicuddy&rsquo;s grandchildren.</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">Mr. McGillicuddy has shared dispositive power
with respect to 3,581,396 shares of Common Stock. 1,062,875 of such 3,581,396 shares are attributable to four trusts through their
ownership of the limited partnership interests of Silverstein Investments Limited Partnership II. Mr. McGillicuddy is a trustee
of these trusts, which are for the benefit of Mr. Silverstein&rsquo;s children.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;Transactions effected by the reporting
person in the Common Stock in the past sixty days are described on Annex A.</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in"><FONT STYLE="color: black">(d)&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Various
persons have the right to receive or the power to direct the receipt of dividends from, or proceeds from the sale of, shares of
Common Stock beneficially owned by Mr. McGillicuddy. No such person has the right to receive or the power to direct the receipt
of dividends from, or proceeds from the sale of, shares of Common Stock beneficially owned by Mr. McGillicuddy in excess of 5%
of the outstanding shares of Common Stock.</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <TD STYLE="width: 43%; border: windowtext 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none">CUSIP No.&nbsp; 35471R106</TD>
    <TD STYLE="width: 16%; font: 12pt Times New Roman, Times, Serif; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none; text-align: center">13D</TD>
    <TD STYLE="width: 41%; font: 9pt Times New Roman, Times, Serif; padding-top: 6pt; padding-left: 0.1in; text-autospace: none; text-align: center"><FONT STYLE="font-size: 10pt">Page
    4      of 5</FONT></TD></TR>
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<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;Due to the issuance of Common Stock
by the issuer since the date of Amendment No. 1 and prior to the purchases of Common Stock described on Annex A, the percent of
the class owned by the reporting person decreased from 6.1% to below 5% prior to the date of this Amendment No. 2.</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right; text-indent: 2.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><U>SIGNATURES</U></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">After reasonable inquiry and to the best
of its knowledge and belief, the undersigned certifies that the information set forth in this Statement is true, complete and correct.</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0">Dated: May 24, 2012</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0 0 0 220.5pt; text-indent: -220.5pt">&nbsp;</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By:&nbsp;&nbsp;&nbsp;&nbsp;<U>/s/ Dennis J. McGillicuddy</U>_____</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dennis
J. McGillicuddy</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0 0 0 220.5pt; text-indent: -220.5pt">&nbsp;</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0 0 0 220.5pt; text-indent: -220.5pt">&nbsp;</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0 0 0 220.5pt; text-indent: -220.5pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: right"></P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 43%; border: windowtext 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none">CUSIP No.&nbsp; 35471R106</TD>
    <TD STYLE="width: 16%; font: 12pt Times New Roman, Times, Serif; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-autospace: none; text-align: center">13D</TD>
    <TD STYLE="width: 41%; font: 9pt Times New Roman, Times, Serif; padding-top: 6pt; padding-left: 0.1in; text-autospace: none; text-align: center"><FONT STYLE="font-size: 10pt">Page
    5 of 5</FONT></TD></TR>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: right"><U>Annex A</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><U>Purchases of Common Stock on May 22, 2012</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Set forth below is information regarding the purchases of Common
Stock by the reporting person on May 22, 2012. These purchases were effected as multiple open market sales executed by a broker-dealer
on the reporting person&rsquo;s behalf.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 34%; text-autospace: none; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 33%; text-autospace: none; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 33%; text-autospace: none; text-align: center">Weighted Average</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; text-decoration: underline; text-align: center">Date</TD>
    <TD STYLE="text-autospace: none; text-decoration: underline; text-align: center">Number of Shares</TD>
    <TD STYLE="text-autospace: none; text-decoration: underline; text-align: center">Price per Share</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; text-align: center">5/22/12</TD>
    <TD STYLE="text-autospace: none; text-align: center">100,000</TD>
    <TD STYLE="text-autospace: none; text-align: center"><FONT STYLE="color: black">$9.94<A HREF="#note_ftn1" NAME="note_ftnref1"
    STYLE="font-size: 65%; vertical-align: 35%"></a></FONT><SUP>1</SUP></TD></TR>
</TABLE>
<P STYLE="color: green; font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="color: green; font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="color: green; font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0"><A HREF="#note_ftnref1" NAME="note_ftn1"
STYLE="font-size: 65%; vertical-align: 35%">1</A><FONT STYLE="color: windowtext"> Represents shares purchased at prices ranging
from $9.86 to $9.99 per share</FONT></P>



<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">The Reporting Persons will provide to the staff of the SEC, upon
request, information regarding the number of shares purchased at each separate price on May 22, 2012.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>





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