Winthrop Realty Trust Extends Lease with Bellsouth Telecommunications, Inc. on its Plantation Florida Property through March 31, 2020
BOSTON, May 13 /PRNewswire-FirstCall/ -- Winthrop Realty Trust (NYSE:FUR) has entered into a lease extension and modification agreement with respect to its 133,000 square foot Plantation, Florida office property which is net leased to BellSouth Telecommunications Inc. which currently extends the lease term for ten years through March 31, 2020. The modification extension provides for a reduction in the current above-market annual rent of approximately $3.16 million to approximately $1.74 million for the final year of the current term. Thereafter annual rent will be approximately $1.45 million from April 1, 2010 through March 31, 2015 and approximately $1.5 million from April 1, 2015 through March 31, 2020.
Winthrop Realty Trust is a NYSE-listed real estate investment trust (REIT) headquartered in Boston, Massachusetts. Additional information on Winthrop Realty Trust is available on its Web site at www.winthropreit.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995. With the exception of the historical information contained in this news release, the matters described herein contain "forward-looking" statements that involve risk and uncertainties that may individually or collectively impact the matters herein described. These are detailed from time to time in the "Risk Factors" section of Winthrop's Annual Report on Form 10-K for the year ended December 31, 2008, as may be updated or supplemented in Winthrop's Form 10-Q filings which discuss the factors that could adversely affect Winthrop's results. Further information relating to Winthrop's financial position, results of operations, and investor information is also contained in Winthrop's reports filed with the SEC, which reports are available for download at our website www.winthropreit.com or at the SEC website www.sec.gov.
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