SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                   FORM 10-Q/A

                                 AMENDMENT NO. 1


            [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

                For the quarterly period ended September 30, 1997

                                       OR

            [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

                        Commission File Number: 001-14162


                      GLENBOROUGH REALTY TRUST INCORPORATED
             (Exact name of registrant as specified in its charter)

            Maryland                                    94-3211970
  (State or other jurisdiction                       (I.R.S. Employer
of incorporation or organization)                   Identification No.)

                            400 South El Camino Real,
                        Suite 1100 San Mateo, California
                            (415) 343-9300 94402-1708
               (Address of principal executive offices (Zip Code)
                              and telephone number)

              Securities registered under Section 12(b) of the Act:

                                                     Name of Exchange
    Title of each class:                           on which registered:
Common Stock, $.001 par value                    New York Stock Exchange

        Securities registered pursuant to Section 12(g) of the Act: None


Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days.

                                   Yes X No___


As of November  10,  1997,  31,474,692  shares of Common Stock ($.001 par value)
were outstanding.



                                  Page 1 of 5
<PAGE>

                                EXPLANATORY NOTE

The undersigned  Registrant  hereby amends Item 6 - Exhibits and Reports on Form
8-K of its  quarterly  report on Form 10-Q for the quarter  ended  September 30,
1997 for the sole purpose of restating the Financial Data Schedule exhibit. Such
restatement  reflects an accounting  principle  change and is attached hereto as
Exhibit 27.1 and is entitled "Restated Financial Data Schedule".


                                  Page 2 of 5
<PAGE>

Item 6.      Exhibits and Reports on Form 8-K

             (a)      Exhibits:

                      The Exhibit Index attached hereto is hereby
                      incorporated by reference to this item.

             (b)      Reports on Form 8-K:

                      On July 15, 1997,  the Company  filed a report on Form 8-K
                      with  respect  to  the   acquisition  of  the  Centerstone
                      Property.

                      On July 15, 1997,  the Company  filed a report on Form 8-K
                      with respect to the July 1997 Offering.

                      On July 28, 1997,  the Company  filed a report on Form 8-K
                      to provide  certain  additional  ownership and operational
                      information  concerning  the  Company  and the  properties
                      owned or managed by it as of June 30, 1997.

                      On  August 8,  1997,  the  Company  filed a report on Form
                      8-K/A with respect to the  acquisition of the  Centerstone
                      Property.

                      On September 29, 1997,  the Company filed a report on Form
                      8-K with respect to the  acquisition  of the T. Rowe Price
                      Properties and the Advance Properties.

                      On October 17,  1997,  the Company  filed a report on Form
                      8-K/A with respect to the acquisition of the T. Rowe Price
                      Properties and the Advance Properties.

                      On October 17,  1997,  the Company  filed a report on Form
                      8-K/A with respect to the acquisition of the Citibank Park
                      Property.

                      On October 17,  1997,  the Company  filed a report on Form
                      8-K to  announce  funds  from  operations  for  the  third
                      quarter  of  1997  and  to  provide   certain   additional
                      operational information concerning the Company.

                      On October 23,  1997,  the Company  filed a report on Form
                      8-K with respect to the October 1997 Offering.

                      On  November 7, 1997,  the Company  filed a report on Form
                      8-K  to   provide   certain   additional   ownership   and
                      operational  information  concerning  the  Company and the
                      properties  owned or  managed  by it as of  September  30,
                      1997.

                      On November 10, 1997,  the Company  filed a report on Form
                      8-K  with  respect  to  the   acquisition  of  the  Copley
                      Properties.


                                  Page 3 of 5
<PAGE>

                                   SIGNATURES


Pursuant to the  requirements of Section l3 or l5(d) of the Securities  Exchange
Act of l934,  the  Registrant  has duly  caused  this report to be signed on its
behalf by the undersigned, thereunto duly authorized.


                      GLENBOROUGH REALTY TRUST INCORPORATED




                   By: Glenborough Realty Trust Incorporated,



      Date:  June 12, 1998                     /s/ Andrew Batinovich
                                               Andrew Batinovich
                                               Director, President
                                               and Chief Operating Officer
                                               (Principal Operating Officer)





      Date:  June 12, 1998                     /s/ Terri Garnick
                                               Terri Garnick
                                               Senior Vice President,
                                               Chief Accounting Officer,
                                               Treasurer
                                               (Principal Accounting Officer)


                                  Page 4 of 5
<PAGE>

                                  EXHIBIT INDEX



Exhibit No.          Exhibit Title

27.1                 Restated Financial Data Schedule



                                  Page 5 of 5
<PAGE>