Company's 1996 Acquisition Total Exceeds $1.1 Billion

    BOSTON, Dec. 23 /PRNewswire/ -- Beacon Properties Corporation (NYSE: BCN)
announced today that it has acquired two Silicon Valley office parks totaling
more than 1.1 million square feet for $184 million.  The transaction marks the
company's entry into the San Francisco office market and increases its total
of property investments in 1996 to more than $1.1 billion.
    The acquisitions consist of Shoreline Technology Park, a 727,000 square
foot, 12-building property in Mountain View, California; and Lake Marriott
Business Park, a 400,000 square foot, seven-building property in Santa Clara,
California.  The occupancy rates are 100 percent and 99 percent, respectively.
Shoreline Technology Park is the headquarters of Silicon Graphics, Inc. which
is the sole tenant of the property; major tenants in Lake Marriott Business
Park include Silicon Valley Bank and Hitachi, Ltd.
    Financing for the acquisitions was provided by a combination of cash and
Beacon's $300 million line of credit.  The properties were purchased from
Teachers Insurance and Annuity Association (TIAA).
    The combined net operating income (NOI) of the buildings being acquired is
estimated at approximately $17.4 million (including $725,000 in straight-line
rents) based on the annualized rental income from leases in place.  The
company expects to invest an additional $1 million for non-recurring capital
expenditures.  Existing rents for both properties are estimated to be
approximately 20 percent below current market levels.
    San Francisco is the most recent office market entered by Beacon,
following its declared strategy of targeting a select number of large national
markets.  In addition to San Francisco, the company's current list of core
markets includes Boston, Atlanta, Chicago, Los Angeles and Washington, D.C.
    Alan M. Leventhal, president and chief executive officer of Beacon,
stated: "We are very pleased with the strong fundamentals of this acquisition
and the opportunity to acquire our first properties in Silicon Valley and the
greater San Francisco market.  Having selected the Bay Area as one of our
target markets, based on criteria such as significant job creation, economic
growth and lack of new office supply, we fully expect to reinforce our initial
presence there during the course of 1997."

    With the San Francisco acquisitions, Beacon now owns or has an interest in
100 office properties totaling 14.9 million square feet.  Beacon has invested
a total of $1.137 billion in office properties during 1996.  They include:

    -- Shoreline Technology Park, Mountain View, California (12 buildings);
    -- Lake Marriott Business Park, Santa Clara, California (seven buildings);
    -- 10960 Wilshire Boulevard, West Los Angeles, California;
    -- Perimeter Center, Atlanta, Georgia (32 buildings);
    -- Tri-State International, Lincolnshire, Illinois (five buildings);
    -- AT&T Plaza, Oak Brook, Illinois;
    -- The New England Executive Park, Burlington, Massachusetts
       (nine buildings);
    -- Riverview, Cambridge, Massachusetts;
    -- The Northridge 1 Building, Herndon, Virginia;
    -- 1616 North Fort Myer Drive, Rosslyn, Virginia;
    -- 1300 North l7th Street, Rosslyn, Virginia;
    -- The E. J. Randolph Building, Tysons Corner, Virginia;
    -- The John Marshall Building, Tysons Corner, Virginia;
    -- 1333 H Street, NW, Washington, DC.

    Beacon Properties Corporation is a self-administered and self-managed real
estate investment trust (REIT).  One of the nation's largest office REITs,
Beacon currently owns or has an interest in 100 properties totaling
approximately 14.9 million square feet.  The company specializes in property
acquisitions, management, leasing, design, construction and development.
Further information is available at the company's Internet site:
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 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 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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