Exhibit 99.1


PRESS RELEASE             Franklin Street Properties Corp.
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     401 Edgewater Place - Suite 200 - Wakefield, Massachusetts 01880-6210
                (781) 557-1300 - www.franklinstreetproperties.com

                                           Contact: Donna Brownell: 877-686-9496


                   FRANKLIN STREET PROPERTIES CORP. COMPLETES
                            SALE OF THREE PROPERTIES

Wakefield, MA--June 1, 2006--Franklin Street Properties Corp. ("FSP") (AMEX:
FSP) announced today that it has completed the sale of an apartment complex in
Katy, Texas, an office property in Santa Clara, California and an office
property in Fairfax, Virginia. Each of the properties was sold for a gain. The
apartment complex in Katy, Texas contains approximately 228 residential units
consisting of approximately 231,363 square feet, the office property in Santa
Clara, California contains approximately 40,280 square feet and the office
property in Fairfax, Virginia contains approximately 210,993 square feet. The
sale of the three properties generated total sale proceeds of approximately $88
million and resulted in a net gain of approximately $28 million. FSP is
currently reviewing several potential replacement properties and expects to
redeploy substantially all of the proceeds from the sale of the three properties
to the acquisition of one or more replacement properties.

George J. Carter, President and Chief Executive Officer of FSP, said the
following: "The sale of these three properties is consistent with our strategic
plan to make dispositions of properties for either 'property specific' and/or
'market driven' reasons and to reinvest the sale proceeds into other properties
or investment opportunities that we believe have the potential for increased
returns."

About Franklin Street Properties Corp.

Franklin Street Properties Corp. is a real estate investment trust based in
Wakefield, Massachusetts, focused on achieving current income and long-term
growth through investments in commercial properties. FSP operates in two
business segments: real estate operations and investment banking/investment
services. FSP owns an unleveraged portfolio of real estate. The majority of
FSP's property portfolio is suburban office buildings. FSP's subsidiary, FSP
Investments LLC (member, NASD and SIPC), is a real estate investment banking
firm and a registered broker/dealer. The primary activity of the investment bank
is the organization of single purpose entities that acquire, own and operate
specific real estate properties. FSP Investments LLC raises all of the capital
required to fully equitize those entities through private placement offerings.
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 are
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 changes in economic conditions in the markets in which we own
properties, changes in the demand by investors for investment in Sponsored REITs
(as defined in our Quarterly Report on Form 10-Q for the quarter ended March 31,
2006), risks of a lessening of demand for the types of real estate owned by us,
changes in government regulations, 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 Item 1A of our Quarterly Report on Form 10-Q for
the quarter ended March 31, 2006. 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.