Exhibit 99.1

401 Edgewater Place  Suite 200  Wakefield, Massachusetts  01880  (781) 557-1300     www.franklinstreetproperties.com

Franklin Street Properties Corp. Announces

Fourth Quarter and Year End 2015 Results

Wakefield, MA—February 16, 2016—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 $27.1 million or $0.27 per share for the fourth quarter ended December 31, 2015;  and FFO of $106.9 million or $1.07 per share for the full year ended December 31, 2015.  Net income was $15.4 million or $0.15 per share for the fourth quarter ended December 31, 2015 and $35.0 million or $0.35 per share for the year ended December 31, 2015.

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

Comparing results for the fourth quarter of 2015 to the same period in 2014, FFO decreased $0.4 million to $27.1 million and was $0.27 per share for the fourth quarter of 2015 and 2014.  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.    We recorded a $12.3 million gain on the sale of a property on December 9, 2015.  Net Income and EPS was $15.4 million and $0.15 per share for the fourth quarter of 2015, respectively, compared to a  Net Income of $4.3 million and EPS of $0.04 for the fourth quarter of 2014.

Comparing results for the year ended December 31, 2015 to the same period in 2014, FFO decreased $5.6 million or $0.05 per share to $106.9 million or $1.07 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 a $23.7 million gain on the sale of four properties during the year ended December 31, 2015.  Net Income and EPS was $35.0 million and $0.35 per share for the year ended December 31, 2015, respectively, compared to Net Income of $13.1 million and EPS of $0.13 for the year ended December 31, 2014.    

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

“For the fourth quarter of 2015, FSP’s funds from operations, or FFO, totaled approximately $27.1 million or $0.27 per share.  For the full year 2015, our FFO totaled approximately $106.9 million or $1.07 a share.  These results are within our initial full year 2015 FFO guidance range of $1.03 to $1.08 per diluted share.  FSP’s full year 2015 adjusted funds from operations, or AFFO totaled approximately $79.8 million or $0.80 per share.  Dividend distributions paid/declared for full year 2015 totaled $76.1 million or $0.76 per share.  We also recorded gains on the sale of four properties during 2015 of $23.7 million or $0.24 per share.  Our initial FFO guidance for full year 2016 is estimated to be in the range of $1.01 to $1.07 per diluted share and for the first quarter of 2016 we estimate FFO to be in the range of $0.24 to $0.26 per diluted share.     

Our directly owned real estate portfolio of 36 properties totaling approximately 9.5 million square feet was approximately 91.6% leased as of December 31, 2015.  We did significant leasing in the fourth quarter, much of it renewals ahead of lease expirations in future periods.  We anticipate continued positive leasing activity within the portfolio during 2016.  

On December 9, 2015, we sold our San Jose, California property, known as Montague Business Center,  for $30.3 million.  On January 19, 2016, an affiliate of FSP sold the 296,000 square foot office building, known as Central Park Tower, located at 385 Interlocken Boulevard in Broomfield,  Colorado within the Denver-Boulder corridor for $83.5 million and our $37.5 million first mortgage loan on that property was repaid in full.  Central Park Tower was developed as a spec office building in 2008-2009.  Its sale represents a record price per square foot for an office property sale in the Northwest submarket of Denver.  We continue to work on finalizing plans for our anticipated next development opportunity at 801 Marquette Avenue South in Minneapolis, Minnesota.  We expect ongoing property disposition/acquisition activity during 2016 as we continue to reposition the portfolio into larger, multi-tenant, urban infill/CBD office assets, primarily within our five core markets of Atlanta, Dallas, Denver, Houston and Minneapolis.  

As we begin 2016, our property portfolio is operating smoothly with existing and known upcoming vacancy square footage actively being marketed to multiple potential tenants.  We look forward with anticipation to 2016 and beyond.”

Dividend Update

On January 8, 2016, the Company announced that its Board of Directors declared a regular quarterly dividend for the three months ended December 31, 2015 of $0.19 per share of common stock that was paid on February 11, 2016 to stockholders of record on January 22, 2016.         

FFO Guidance

Our full year FFO guidance for 2016 is estimated to be in the range of $1.01 to $1.07 per diluted share and for the first quarter of 2016 we estimate FFO to be in the range of $0.24 to $0.26 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.     

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 December 31, 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) and Adjusted Funds From Operations (AFFO)

A reconciliation of Net Income to FFO and AFFO is shown below and a definition of FFO and AFFO is provided on Supplementary Schedule H.  Management believes FFO and AFFO are used broadly throughout the real estate investment trust (REIT) industry as measurements of performance.   Management also believes that FFO and AFFO represent the most accurate measures of activity and are 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 and AFFO may not be comparable to FFO or AFFO reported by other REITs or real estate companies that define FFO or AFFO differently. 

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 February 17, 2016 at 10:00 a.m. (ET) to discuss the fourth 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.     

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, 2015, 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

Franklin Street Properties Corp. Financial Results

Supplementary Schedule A

Condensed Consolidated Income (Loss) Statements

(Unaudited)

Franklin Street Properties Corp. Financial Results

Supplementary Schedule B

Condensed Consolidated Balance Sheets

(Unaudited)

Franklin Street Properties Corp. Financial Results

Supplementary Schedule C

Condensed Consolidated Statements of Cash Flows

(Unaudited)

Franklin Street Properties Corp. Earnings Release

Supplementary Schedule D

Real Estate Portfolio Summary Information

(Unaudited & Approximated)

Franklin Street Properties Corp. Earnings Release

Supplementary Schedule E

Portfolio and Other Supplementary Information

(Unaudited & Approximated)

Recurring Capital Expenditures

Owned Portfolio

121 South 8th Street in Minneapolis, MN separately.  They had previously been presented as one property.

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

Franklin Street Properties Corp. Earnings Release

Supplementary Schedule F

Percentage of Leased Space

(Unaudited & Estimated)