<SEC-DOCUMENT>0001171520-15-000580.txt : 20151026
<SEC-HEADER>0001171520-15-000580.hdr.sgml : 20151026
<ACCEPTANCE-DATETIME>20151026162128
ACCESSION NUMBER:		0001171520-15-000580
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20151022
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20151026
DATE AS OF CHANGE:		20151026

FILER:

	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
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32470
		FILM NUMBER:		151175280

	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>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>WASHINGTON, DC 20549</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 21pt; text-align: center"><B>_________________</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>PURSUANT TO SECTION 13 OR 15(d) OF</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>THE SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">Date of Report (Date
of Earliest Event Reported): <B><U> October 22, 2015</U></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>FRANKLIN STREET PROPERTIES CORP.</U></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Exact Name of Registrant as Specified in Charter)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
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        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 1pt solid"><B>Maryland</B></P></TD>
    <TD STYLE="width: 33%; padding-right: 6.6pt; padding-left: 6.6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 1pt solid"><B>001-32470</B></P></TD>
    <TD STYLE="width: 33%; padding-right: 6.6pt; padding-left: 6.6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 1pt solid"><B>04-3578653</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">(State or Other Jurisdiction</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">of Incorporation)</P></TD>
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Commission</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">File No.)</P></TD>
    <TD STYLE="padding-right: 6.6pt; padding-left: 6.6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">(IRS Employer</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">Identification No.)</P></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>401 Edgewater Place, Suite 200, Wakefield,
Massachusetts 01880</U></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Address of Principal Executive Office) (Zip
Code)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">Registrant&rsquo;s Telephone
Number, Including Area Code: <B><U>(781) 557-1300</U></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not
Applicable&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 21pt; text-align: center">(Former name or former address, if changed
since last report)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; text-indent: 0.5in; margin-right: 0; margin-left: 0">Check the appropriate
box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the
following provisions:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0">[ ] Written communications pursuant to Rule
425 under the Securities Act (17 CFR 230.425)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0">[ ] Soliciting material pursuant to Rule 14a-12
under the Exchange Act (17 CFR 240.14a-12)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0">[ ] Pre-commencement communications pursuant
to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0">[ ] Pre-commencement communications pursuant
to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: left"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-align: justify"><B>ITEM 5.02 Departure of Directors or
Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-align: justify">(d)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-align: justify">On October 22, 2015, the Board of Directors
(the &ldquo;Board&rdquo;) of Franklin Street Properties Corp. (the &ldquo;Company&rdquo;), acting upon the recommendation of its
Nominating and Corporate Governance Committee, elected each of Kathryn P. O&rsquo;Neil and Kenneth Hoxsie as Class II directors
of the Board, effective as of January 1, 2016, to fill vacancies created on the Board as a result of Barbara J. Fournier and Barry
Silverstein retiring from the Board on May 14, 2015. Pursuant to the Company&rsquo;s Amended and Restated Bylaws, which provide
that any director elected to fill a vacancy on the Board will serve for the remainder of the term of the class in which the vacancy
occurred and until a successor is elected and qualified, the terms of Ms. O&rsquo;Neil and Mr. Hoxsie will expire at the Company&rsquo;s
2018 annual meeting of stockholders. The Board has determined neither Ms. O&rsquo;Neil nor Mr. Hoxsie has a relationship with the
Company that would interfere with the exercise of independent judgment in carrying out the responsibilities of a director and that
each of Ms. O&rsquo;Neil and Mr. Hoxsie is an &ldquo;independent director&rdquo; as defined under the rules of the NYSE MKT. In
addition, the Board appointed Ms. O&rsquo;Neil to serve as a member of the Compensation Committee and the Nominating and Corporate
Governance Committee and Mr. Hoxsie to serve as a member of the Audit Committee and the Nominating and Corporate Governance Committee.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Ms. O&rsquo;Neil was a Director at Bain Capital
in the Investor Relations area where she focused on Private Equity and had oversight of the Investment Advisory Community from
2011 until her retirement in 2014. From 1999 to 2007, Ms. O&rsquo;Neil was a Partner at FLAG Capital Management LLC, a manager
of fund-of-funds investment vehicles in Private Equity, Venture Capital, Real Estate and Natural Resources. Previously, Ms. O&rsquo;Neil
was an Investment Consultant at Cambridge Associates where she specialized in Alternative Assets. Ms. O&rsquo;Neil is a Trustee
Emeritus of Colby College and currently serves on the board of directors of Horizon&rsquo;s for Homeless Children, the Advisory
Council and Investment Committee for the Trustees of Reservations, the Investment Committee of The Governor&rsquo;s Academy, the
Board of Visitors of McLean Hospital, and the Board of Overseers of the Peabody Essex Museum. Ms. O&rsquo;Neil is a former member
of the boards of Beverly Bootstraps and the Essex County Club as well as the Board of Overseers of the Boston Museum of Science.
Ms. O&rsquo;Neil holds a BA (Summa Cum Laude) and MA (Honorary) from Colby College where she was elected to Phi Beta Kappa. Ms.
O&rsquo;Neil received her MBA from The Harvard Graduate School of Business Administration.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Mr. Hoxsie is a Partner at the international
law firm of Wilmer Cutler Pickering Hale and Dorr LLP (&ldquo;WilmerHale&rdquo;), from which he will retire on December 31, 2015.
He joined Hale and Dorr (the predecessor of WilmerHale) in 1981, subsequently worked at Copley Real Estate Advisors, an institutional
real estate investment advisory firm, and rejoined Hale and Dorr in 1994. Mr. Hoxsie has over 30 years&rsquo; experience in real
estate capital markets transactions, fund formation, public company counselling and mergers and acquisitions and has advised the
Company since its formation in 1997. Mr. Hoxsie earned his JD (Cum Laude) from the Harvard Law School, his MA from Harvard University
and his BA (Summa Cum Laude) from Amherst College, where he was elected to Phi Beta Kappa.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">There are no arrangements or understandings
between Ms. O&rsquo;Neil or Mr. Hoxsie and any other person pursuant to which they were elected to the Board. There are no transactions
involving the Company and Ms. O&rsquo;Neil or Mr. Hoxsie that would be required to be disclosed pursuant to Item 404(a) of Regulation
S-K. Ms. O&rsquo;Neil and Mr. Hoxsie will receive the same compensation for their service as received by all non-management directors
of the Company, which is currently an annual fee of $75,000 in cash. The Company does not pay meeting fees. Ms. O&rsquo;Neil and
Mr. Hoxsie will be entitled to reimbursement for expenses incurred by them in connection with attendance at Board meetings.</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company issued a press release announcing
the election of Ms. O&rsquo;Neil and Mr. Hoxsie on October 26, 2015, a copy of which is furnished herewith as Exhibit 99.1 to this
Current Report on Form 8-K.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 8pt 1in; text-align: justify; text-indent: -1in"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 8pt 1in; text-align: justify; text-indent: -1in"><B>ITEM 9.01 Financial
Statements and Exhibits.</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD>Exhibits.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">See Exhibit Index attached
hereto.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 8pt 0.75in; text-align: justify; text-indent: -27pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 8pt 0.75in; text-align: justify; text-indent: -27pt">&nbsp;</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 202.5pt">FRANKLIN STREET PROPERTIES
CORP.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 202.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 202.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 247.5pt; text-align: justify; text-indent: -45pt">By: <U>/s/
George J. Carter &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 225pt">George J. Carter</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 225.35pt">President and Chief
Executive Officer</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 225.35pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 225.35pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Date: October 26, 2015</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">EXHIBIT INDEX</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="width: 7%">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 0.75pt solid">Exhibit<BR>
        No.</P></TD>
    <TD STYLE="width: 1%; font: 11pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 92%">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; border-bottom: black 0.75pt solid">Description</P></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top; font: 11pt Times New Roman, Times, Serif; text-align: justify">99.1</TD>
    <TD STYLE="vertical-align: bottom; font: 11pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font: 11pt Times New Roman, Times, Serif; text-align: justify">Press release dated October 26, 2015</TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<DESCRIPTION>PRESS RELEASE
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="border-bottom: Black 1pt solid; font: 18pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 18pt">PRESS RELEASE</font></td>
    <td colspan="2" style="border-bottom: Black 1pt solid; font: 18pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 18pt Arial, Helvetica, Sans-Serif"><b>Franklin Street Properties Corp.</b></font></td></tr>
<tr style="vertical-align: top">
    <td colspan="3" style="font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">401
    Edgewater Place </FONT><FONT STYLE="font: 8pt Symbol">&#183;</FONT><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"> Suite
    200 </FONT><FONT STYLE="font: 8pt Symbol">&#183;</FONT><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"> Wakefield, Massachusetts&nbsp;&nbsp;01880
    </FONT><FONT STYLE="font: 8pt Symbol">&#183;</FONT><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"> (781) 557-1300 </FONT><FONT STYLE="font: 8pt Symbol">&#183;</FONT><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;<FONT STYLE="color: Blue">www.franklinstreetproperties.com</FONT></FONT></td></tr>
<tr style="vertical-align: top">
    <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 11pt">Contact: Georgia Touma</font>&nbsp;&nbsp;&nbsp;(<font style="font-size: 12pt">877) 686-9496</font></td>
    <td style="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 12pt"><b>For Immediate Release</b></font></td></tr>
<tr>
    <td style="width: 35%">&nbsp;</td>
    <td style="width: 13%">&nbsp;</td>
    <td style="width: 52%">&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt"><B>For Immediate Release</B></P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>Franklin
Street Properties Corp. Elects</B></P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>T</B></FONT><B>wo<FONT STYLE="text-transform: uppercase">
I</FONT>ndependent Directors to Board of Directors </B></P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>WAKEFIELD, MA &ndash; October 26,
2015</B> &ndash; Franklin Street Properties Corp. (the &ldquo;Company&rdquo;, &ldquo;FSP&rdquo;, &ldquo;its&rdquo;, &ldquo;our&rdquo;
or &ldquo;we&rdquo;) (NYSE MKT: FSP), a real estate investment trust (REIT), today announced the election of Kathryn P. O&rsquo;Neil
and Kenneth Hoxsie to the Company&rsquo;s Board of Directors (the &ldquo;Board&rdquo;), effective as of January 1, 2016, to fill
vacancies created on the Board as a result of the retirement of Barbara J. Fournier and Barry Silverstein on May 14, 2015. Ms.
O&rsquo;Neil and Mr. Hoxsie were elected to serve as Class II directors with terms expiring at the Company&rsquo;s 2018 annual
meeting of stockholders. The Board has determined that each of Ms. O&rsquo;Neil and Mr. Hoxsie is an &ldquo;independent director&rdquo;
as defined under the rules of the NYSE MKT. In addition, the Board appointed Ms. O&rsquo;Neil to serve as a member of the Compensation
Committee and the Nominating and Corporate Governance Committee and Mr. Hoxsie to serve as a member of the Audit Committee and
the Nominating and Corporate Governance Committee. With the additions of Ms. O&rsquo;Neil and Mr. Hoxsie to the Board effective
as of January 1, 2016, the Board will be comprised of eight directors, six of whom will be independent.</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">George J. Carter, Chairman of the Board
and Chief Executive Officer, commented as follows: &ldquo;We are delighted to welcome both Kate and Ken to the FSP Board of Directors.
Kate has extensive investor relations and private equity experience, as well as broad business operating experience and service
on other boards. Ken has extensive experience in real estate capital markets transactions, securities regulation and advising public
companies, including FSP since its founding. We know that the breadth of their experiences will make them valuable contributors
to our board.&rdquo;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>About Kathryn P. O&rsquo;Neil</B></P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Ms. O&rsquo;Neil was a Director at Bain
Capital in the Investor Relations area where she focused on Private Equity and had oversight of the Investment Advisory <FONT STYLE="font-size: 12pt">Community
from 2011 until her retirement in 2014. From 1999 to 2007, Ms. O&rsquo;Neil was a Partner at FLAG Capital Management LLC, a manager
of fund-of-funds investment vehicles in Private Equi</FONT>ty, Venture Capital, Real Estate and Natural Resources. Previously,
Ms. O&rsquo;Neil was an Investment Consultant at Cambridge Associates where she specialized in Alternative Assets. Ms. O&rsquo;Neil
is a Trustee Emeritus of Colby College and currently serves on the board of directors of Horizon&rsquo;s for Homeless Children,
the Advisory Council and Investment Committee for the Trustees of Reservations, the Investment Committee of The Governor&rsquo;s
Academy, the Board of Visitors of McLean Hospital, and the Board of Overseers of the Peabody Essex Museum. Ms. O&rsquo;Neil is
a former member of the boards of Beverly Bootstraps and the Essex County Club as well as the Board of Overseers of the Boston Museum
of Science. Ms. O&rsquo;Neil holds a BA (Summa Cum Laude) and MA (Honorary) from Colby College where she was elected to Phi Beta
Kappa. Ms. O&rsquo;Neil received her MBA from The Harvard Graduate School of Business Administration.</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>About Kenneth Hoxsie</B></P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Mr. Hoxsie is a Partner at the international
law firm of Wilmer Cutler Pickering Hale and Dorr LLP (&ldquo;WilmerHale&rdquo;), from which he will retire on December 31, 2015.
He joined Hale and Dorr (the predecessor of WilmerHale) in 1981, subsequently worked at Copley Real Estate Advisors, an institutional
real estate investment advisory firm, and rejoined Hale and Dorr in 1994. Mr. Hoxsie has over 30 years&rsquo; experience in real
estate capital markets transactions, fund formation, public company counselling and mergers and acquisitions and has advised the
Company since its formation in 1997. Mr. Hoxsie earned his JD (Cum Laude) from the Harvard Law School, his MA from Harvard University
and his BA (Summa Cum Laude) from Amherst College, where he was elected to Phi Beta Kappa.</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&nbsp;</P>

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<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">This press
release, along with other news about FSP, is available on the Internet at www.franklinstreetproperties.com. We routinely post information
that may be important to investors in the Investor Relations section of our website. We encourage investors to consult that section
of our website regularly for important information about us and, if they are interested in automatically receiving news and information
as soon as it is posted, to sign up for E-mail Alerts.</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"><B>About Franklin Street Properties
Corp.</B></P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">Franklin Street
Properties Corp., based in Wakefield, Massachusetts, is focused on investing in institutional-quality office properties in the
U.S. FSP&rsquo;s strategy is to invest in select urban infill and central business district (CBD) properties, with primary emphasis
on our top five markets of Atlanta, Dallas, Denver, Houston, and Minneapolis. 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.franklinstreetproperties.com.</P>


<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><B>Forward-Looking
Statements</B></P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">Statements
made in this press release that state FSP&rsquo;s or management&rsquo;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, including without limitation, economic conditions in the United
States, disruptions in the debt markets, economic conditions in the markets in which we own properties, risks of a lessening of
demand for the types of real estate owned by us, changes in government regulations and regulatory uncertainty, uncertainty about
governmental fiscal policy, geopolitical events and expenditures that cannot be anticipated such as utility rate and usage increases,
unanticipated repairs, additional staffing, insurance increases and real estate tax valuation reassessments. See the &ldquo;Risk
Factors&rdquo; set forth in Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2014, 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. We will not update any of the forward-looking statements after the date of this press release to conform
them to actual results or to changes in our expectations that occur after such date, other than as required by law.</P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: white; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white">For Franklin Street Properties Corp.<BR>
Georgia Touma, 877-686-9496</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white">Source: Franklin Street Properties
Corp.</P>

<P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;</P>



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