Chicago Portfolio Increased to 4.7 Million Square Feet

    BOSTON, Dec. 15 /PRNewswire/ -- Beacon Properties Corporation (NYSE: BCN)
has announced the acquisition of 101 N. Wacker Drive in the west loop market
of downtown Chicago increasing the company's Chicago portfolio to 4.7
million square feet.
    The property was purchased for $58,965,000 (approximately $102 per square
foot) from a partnership between MetLife and Dai-Ichi Life, USA.
    The 24-story, 575,000 square foot building has a current occupancy of 90%
and major tenants include: TTX (railroad), Hartmarx and the YMCA.
    Including this purchase, Beacon has acquired over $970 million of
properties and development sites in 1997.  Acquisitions include:

  -- Lakeside Office Park, Atlanta, GA.  391,000 sq. ft.
  -- 10880 Wilshire Boulevard, Westwood, CA. 531,000 sq. ft.
  -- Sunnyvale Business Center, Sunnyvale, CA.  175,000 sq. ft.
  -- Westbrook Corporate Center, Westchester, IL. 1.1 million sq. ft.
  -- 20 North Wacker Drive, Chicago, IL. 824,000 sq. ft.
  -- 200 West Adams, Chicago, IL. 677,000 sq. ft.
  -- 225 Franklin Street, Boston, MA. 930,000 sq. ft.
  -- Centerpointe I and II, Fairfax, VA. 409,000 sq. ft.

    Announced development projects that are planned or underway include:

  -- Crosby Corporate Center, Bedford, MA.  256,000 sq. ft.
  -- 175 Wyman Street, Waltham, MA.  350,000-450,000 sq. ft
  -- The Media Center, Burbank, CA.  600,000 sq. ft. (with J.H. Snyder
     Company)
  -- Riverside Center, Newton, MA.  500,000 sq. ft.
  -- 150 California Street, San Francisco, CA.  207,000 sq. ft.

    As announced on September 15, Beacon Properties Corporation and Equity
Office Properties Trust (NYSE: EOP) have entered into a definitive
agreement and plan of merger.
    Beacon Properties Corporation, with headquarters in Boston, Massachusetts,
is one of the nation's largest real estate investment trusts (REITs).
Established in 1994 as a self-administered and self-managed REIT, the
company owns or has an interest in a portfolio of office properties
located in major metropolitan areas, including Boston, Atlanta, Chicago,
Los Angeles, San Francisco and Washington DC.  Beacon's office portfolio
currently totals 124 buildings containing 21.3 million square feet.  The
properties are approximately 97 percent leased with over 1,250 tenants.
Additional information about Beacon is available at the company's Internet
site at http://www.beaconproperties.com.
    Certain matters discussed in this press release may constitute
forward-looking statements within the meaning of the Federal securities
law. Although Beacon believes that the expectations reflected in such
forward-looking statements are based upon reasonable assumptions, it can
give no assurance that its expectations will be achieved.  Factors that
could cause actual results to differ materially from Beacon's current
expectations include general economic conditions, local real estate
conditions, timely releasing of occupied square footage upon expiration,
interest rates, availability of equity and debt financing and other risks
detailed from time to time in the company's filings with the Securities
and Exchange Commission, including quarterly reports on Form 10-Q, reports
on Form 8-K and annual reports on Form 10-K.

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