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Franklin Street Properties Expands, Extends Target’s Minneapolis Lease

Mar 2, 2012 | Reprints | Unlock Link | Print

Franklin Street Properties Corp., a Wakefield, Mass.-based investment firm specializing in real estate, today announced that it has extended and expanded Target Corp.’s lease at the company’s property at 50 South Tenth St., Minneapolis.

According to a SEC filing, Target Corp. will now effectively lease 100 percent of the property’s 449,233 square feet of office space through March 31, 2030.

George J. Carter, president and chief executive officer of FSP, said in a statement: "We are pleased to hold the first mortgage at 50 South Tenth Street. We believe that it is one of the best properties in the Minneapolis central business district and the decision by Target Corporation to maintain such a significant, long-term presence at the property further reinforces our belief."

Commercial & Industrial