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Franklin Street Properties Corp. has entered into a lease agreement with Lennar Homes LLC for its new corporate headquarters. Lennar will occupy approximately 156,000 square feet at Franklin Street Properties Corp.’s Blue Lagoon property in Miami.
According to a prepared statement, the lease has an initial term of 16 years.
George J. Carter, Chairman and Chief Executive Officer of Franklin Street Properties Corp. said: “We welcome Lennar, one of America’s leading homebuilders, to our Blue Lagoon property and look forward to building a long-lasting relationship.”
Franklin Street Properties Corp., based in Wakefield, Massachusetts, is focused on infill and central business district office properties in the U.S. Sunbelt and Mountain West, as well as select opportunistic markets. FSP seeks value-oriented investments with an eye towards long-term growth and appreciation, as well as current income.