Exhibit 99.1

Franklin Street Properties Corp. Announces

Third Quarter 2015 Results

Wakefield, MA—October 27, 2015—Franklin Street Properties Corp. (the “Company”, “FSP”, “we” or “our”) (NYSE MKT:  FSP), a real estate investment trust (REIT), announced today Funds From Operations (FFO) of $27.0 million or $0.27 per share for the third quarter ended September 30, 2015; and net income of $3.2 million or $0.03 per share for the third quarter ended September 30, 2015.

The Company evaluates its performance based on FFO, Net Income and EPS and believes each is an important measure.  A reconciliation of Net Income to FFO, which is a non-GAAP financial measure, is provided on page 3 of this press release.

Comparing results for the third quarter of 2015 to the same period in 2014, FFO decreased $0.9 million or $0.01 per share to $27.0 million or $0.27 per share in 2015.  The FFO decrease was primarily from lower property income as a result of asset sales, loan repayments achieved in the last twelve months and lower occupancy, which was partially offset as a result of the acquisition of a property on April 8, 2015.  Net Income and EPS was $3.2 million and $0.03 per share for the third quarter of 2015, respectively, compared to a net income of $1.6 million and EPS of $0.02 per share for the third quarter of 2014.

Comparing results for the nine months ended September 30, 2015 to the same period in 2014, FFO decreased $5.1 million or $0.05 per share to $79.8 million or $0.80 per share.  The FFO decrease was primarily from lower property income as a result of asset sales and loan repayments achieved in the last twelve months and from lower occupancy, which was partially offset as a result of the acquisition of a property on April 8, 2015.  We recorded an $11.4 million gain on the sale of three properties during the nine months ended September 30, 2015.  Net Income and EPS was $19.6 million and $0.20 per share for the nine months ended September 30, 2015, respectively, compared to Net Income of $8.9 million or $0.09 per share for the nine months ended September 30, 2014.

George J. Carter, President and CEO, commented as follows:

“For the third quarter of 2015, FSP’s profits as represented by FFO totaled approximately $27.0 million, or $0.27 per share.  Our directly owned real estate portfolio of 36 properties totaling approximately 9.6 million square feet was 90.5% leased as of September 30, 2015.  We are updating our full-year 2015 FFO guidance to the range of $1.05 to $1.07 per share.

FSP continued efforts to transform its portfolio into one characterized by urban-infill assets within our top five core markets of Atlanta, Dallas, Denver, Houston and Minneapolis.  To that end, we remain focused on our strategy of disposing of non-core assets throughout the portfolio with emphasis on selling suburban commodity/legacy assets both inside and outside of our five core markets.  FSP is actively working on a number of potential dispositions and potential loan repayment transactions which, if consummated, would slightly expand our total potential disposition/loan repayment guidance range to between $150 and $225 million, including the approximately $57 million achieved so far this year.  A number of these in-process dispositions are still subject to their respective due diligence inspection periods and/or other transaction specific uncertainties, and so execution risks remain.  The timing of potential dispositions/loan repayments could spill into 2016 and we will keep the market informed as transaction clarity emerges.

Balancing the timing of potential new acquisition/development opportunities with potential dispositions continues to be challenging.  Repositioning our portfolio without incurring bridge financing indebtedness, which we believe would raise our corporate risk profile above levels that we are comfortable with, continues to be a significant timing exercise in our capital recycling efforts.  Currently, we have a pipeline of potential acquisitions that are receiving our full focus.  Our prior potential acquisition guidance had been between $150 and $300 million and we are maintaining that guidance at this time.  We will continue to manage disposition timing as best as possible to match-fund against new potential acquisitions.  New acquisitions may occur prior to year-end or spill into the new-year. We will keep the market informed as transaction clarity emerges.

Additionally, we have made progress on a redevelopment plan for our CBD Minneapolis, Minnesota property located at 801 Marquette Avenue. Although subject to change, FSP currently contemplates co-developing an approximately 50-story, mixed-use tower that would include a full-service hotel, residential apartments and office space. Under the current plan, FSP would contribute the land and approximately $80 to $90 million in additional capital costs for 100% ownership of the office portion of the project, which is tentatively slated to be approximately 260,000 rentable square feet in the middle of the tower stack. FSP is working with a residential group and hotel company to further evaluate the project. Final costing and development agreements have yet to be concluded and are fully subject to change and/or cancellation. If successful in the costing and pre-development work ahead, we intend to break ground on the project sometime during the second half of 2016. Significant thought and design are being incorporated into the redevelopment of 801 Marquette Avenue in order to integrate it with and enhance the appeal of its next-door neighbor office building, FSP’s tower at 121 South Eighth Street.

We remain very positive about our prospects and opportunities for the balance of the current year and 2016.”

Dividend Update

On October 9, 2015, the Company announced that its Board of Directors declared a regular quarterly dividend for the three months ended September 30, 2015 of $0.19 per share of common stock that will be paid on November 12, 2015 to stockholders of record on October 23, 2015.

FFO Guidance

Our full year FFO guidance for 2015 has been updated to be in the range of $1.05 to $1.07 per diluted share.  This guidance (a) excludes the impact of future acquisitions, developments, dispositions, debt financings or repayments or other capital market transactions; (b) reflects estimates from our ongoing portfolio of properties, other real estate investments and G&A expenses; and (c) reflects our current expectations of economic conditions.  We will update guidance quarterly in our earnings releases.  There can be no assurance that the Company’s actual results will not differ materially from the estimates set forth above.

2

Real Estate Update

Supplementary schedules provide property information for the Company’s owned real estate portfolio and for two non-consolidated REITs in which the Company holds preferred stock interests as of September 30, 2015.  The Company will also be filing an updated supplemental information package that will provide stockholders and the financial community with additional operating and financial data.  The Company will file this supplemental information package with the SEC and make it available on its website at www.franklinstreetproperties.com.

Funds From Operations (FFO)

A reconciliation of Net Income to FFO is shown below and a definition of FFO is provided on Supplementary Schedule H.  Management believes FFO is used broadly throughout the real estate investment trust (REIT) industry as a measurement of performance.  Management also believes that FFO represents the most accurate measure of activity and is the basis for distributions paid to equity holders.  The Company has included the NAREIT FFO definition in the table and notes that other REITs may not define FFO in accordance with the current NAREIT definition or may interpret the current NAREIT definition differently.  The Company’s computation of FFO may not be comparable to FFO reported by other REITs or real estate companies that define FFO differently.

Reconciliation of Net Income to FFO:

Today’s news release, along with other news about Franklin Street Properties Corp., 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.

Earnings Call

A conference call is scheduled for October 28, 2015 at 9:00 a.m. (ET) to discuss the third quarter 2015 results. To access the call, please dial 1-877-507-4376. Internationally, the call may be accessed by dialing 1-412-317-6014.  To listen via live audio webcast, please visit the Webcasts & Presentations section in the Investor Relations section of the Company’s website (www.franklinstreetproperties.com) at least ten minutes prior to the start of the call and follow the posted directions. The webcast will also be available via replay from the above location starting one hour after the call is finished.

3

About Franklin Street Properties Corp.

Franklin Street Properties Corp., based in Wakefield, Massachusetts, is focused on investing in institutional-quality office properties in the U.S.  FSP’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.

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, 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 “Risk Factors” 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.

Franklin Street Properties Corp.

Earnings Release

Supplementary Information

Table of Contents

4

Franklin Street Properties Corp. Financial Results

Supplementary Schedule A

Condensed Consolidated Income (Loss) Statements

(Unaudited)

5

Franklin Street Properties Corp. Financial Results

Supplementary Schedule B

Condensed Consolidated Balance Sheets

(Unaudited)

6

Franklin Street Properties Corp. Financial Results

Supplementary Schedule C

Condensed Consolidated Statements of Cash Flows

(Unaudited)

7

Franklin Street Properties Corp. Earnings Release

Supplementary Schedule D

Real Estate Portfolio Summary Information

(Unaudited & Approximated)

Commercial portfolio lease expirations (1)

(1)         Percentages are determined based upon total square footage.

(2)         Includes 915,234 square feet of current vacancies.

(dollars & square feet in 000’s)

8

Franklin Street Properties Corp. Earnings Release

Supplementary Schedule E

Portfolio and Other Supplementary Information

(Unaudited & Approximated)

Recurring Capital Expenditures

Owned Portfolio

Square foot & leased percentages

The following table shows property information for our investments in non-consolidated REITs:

9

Franklin Street Properties Corp. Earnings Release

Supplementary Schedule F

Percentage of Leased Space

(Unaudited & Estimated)