| [ X ]  | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|--------|-----------------------------------------------------------------------------------------|
|   | For the quarterly period ended June 30, 2009.                                           |

| [   ] | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|----------------------|------------------------------------------------------------------------------------------|
|                 | For the transition period from _________ to __________.                                  |

| Delaware                         | 20-1641289           |
|---------------------------------------|---------------------------|
| (State or other jurisdiction of  | (I.R.S. Employer     |
| incorporation or organization)   | Identification No.)  |

|   | YES     [ X ] |   | NO     [   ] |
|--------|----------------------------------------|--------|------------------------------------------------------|

|   | YES     [   ] | NO     [   ] |
|--------|-------------------------------------------------------|------------------------------------------------------|

|   | Large accelerated filer [   ]  |                                  | Accelerated filer [   ]  |
|--------|----------------------------------------------------|---------------------------------------|----------------------------------------------|
|   |                                          | Smaller reporting company [ X ]  |

|   | YES     [   ] | NO     [ X ] |
|--------|-------------------------------------------------------|---------------------------------------|

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|       |                  |                                                                                            |   |
|------------|-----------------------|-------------------------------------------------------------------------------------------------|--------|
|       |                  |                                                                                            | Page   |
|       |                  |                                                                                            |
| Part I.    | Financial Information |                                                                                            |
|       |                  |                                                                                            |   |
|       | Item 1.               | Financial Statements                                                                            |   |
|       |                  |                                                                                            |   |
|       |                  | Consolidated Balance Sheets as of June 30, 2009 and December 31, 2008                           | 2      |
|       |                  |                                                                                            |   |
|       |                  | Consolidated Statements of Operations for the three and six months ended June 30, 2009 and 2008 | 3      |
|       |                  |                                                                                            |   |
|       |                  | Consolidated Statements of Cash Flows for the six months ended June 30, 2009 and 2008           | 4      |
|       |                  |                                                                                            |   |
|       |                  | Notes to Consolidated Financial Statements                                                      | 5-7    |
|       |                  |                                                                                            |   |
|       | Item 2.               | Management’s Discussion and Analysis of Financial Condition and Results of Operations     |   |
|       |                  |                                                                                            | 8-11   |
|       | Item 3.               | Quantitative and Qualitative Disclosures About Market Risk                                      | 12     |
|       |                  |                                                                                            |   |
|       | Item 4.               | Controls and Procedures                                                                         | 12     |
|       |                  |                                                                                            |   |
|       | Item 4T.              | Controls and Procedures                                                                         | 12     |
|       |                  |                                                                                            |   |
| Part II.   | Other Information     |                                                                                            |
|       |                  |                                                                                            |   |
|       | Item 1.               | Legal Proceedings                                                                               | 13     |
|       |                  |                                                                                            |   |
|       | Item 1A.              | Risk Factors                                                                                    | 13     |
|       |                  |                                                                                            |   |
|       | Item 2.               | Unregistered Sales of Equity Securities and Use of Proceeds                                     | 13     |
|       |                  |                                                                                            |   |
|       | Item 3.               | Defaults Upon Senior Securities                                                                 | 13     |
|       |                  |                                                                                            |   |
|       | Item 4.               | Submission of Matters to a Vote of Security Holders                                             | 13     |
|       |                  |                                                                                            |   |
|       | Item 5.               | Other Information                                                                               | 13     |
|       |                  |                                                                                            |   |
|       | Item 6.               | Exhibits                                                                                        | 13     |
|       |                  |                                                                                            |   |
| Signatures |                  |                                                                                            | 14     |

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| FSP Galleria North Corp.Consolidated Balance Sheets |
|-----------------------------------------------------|
| (Unaudited)                                         |

|                                                                                                                                         |   | June 30, |    |   | December 31, |   |
|----------------------------------------------------------------------------------------------------------------------------------------------|--------|----------|---------|--------|--------------|--------|
| (in thousands, except shares and par value amounts)                                                                                          |   | 2009     |    |   | 2008         |   |
|                                                                                                                                         |   |     |    |   |         |   |
| Assets:                                                                                                                                      |   |     |    |   |         |   |
|                                                                                                                                         |   |     |    |   |         |   |
| Real estate investments, at cost:                                                                                                            |   |     |    |   |         |   |
|      Land                                                                                                           |   | $        | 5,535   |   |         | $      | 5,535 |   |
|      Buildings and improvements                                                                                     |   |     | 58,483  |   |         |   | 58,483 |   |
|      Fixtures and equipment                                                                                         |   |     | 52      |   |         |   | 52 |   |
|                                                                                                                                         |   |     | 64,070  |   |         |   | 64,070 |   |
|                                                                                                                                         |   |     |    |   |         |   |   |   |
|      Less accumulated depreciation                                                                                  |   |     | 7,066   |   |         |   | 6,312 |   |
|                                                                                                                                         |   |     |    |   |         |   |   |   |
| Real estate investments, net                                                                                                                 |   |     | 57,004  |   |         |   | 57,758 |   |
|                                                                                                                                         |   |     |    |   |         |   |   |   |
| Acquired real estate leases, net of accumulated amortization      of $3,242 and $2,898, respectively           |   |     | 372     |   |         |   | 716 |   |
| Acquired favorable real estate leases, net of accumulated      amortization of $1,398 and $1,248, respectively |   |     | 159     |   |         |   | 309 |   |
| Cash and cash equivalents                                                                                                                    |   |     | 7,758   |   |         |   | 9,265 |   |
| Tenant rent receivable                                                                                                                       |   |     | 46      |   |         |   | 156 |   |
| Step rent receivable                                                                                                                         |   |     | 15      |   |         |   | 31 |   |
| Prepaid expenses and other assets                                                                                                            |   |     | 561     |   |         |   | 169 |   |
|                                                                                                                                         |   |     |    |   |         |   |   |   |
|       Total assets                                                                                             |   | $        | 65,915  |   |         | $      | 68,404 |   |
|                                                                                                                                         |   |     |    |   |         |   |   |   |
| Liabilities and Stockholders’ Equity:                                                                                                  |   |     |    |   |         |   |   |   |
|                                                                                                                                         |   |     |    |   |         |   |   |   |
| Liabilities:                                                                                                                                 |   |     |    |   |         |   |   |   |
| Accounts payable and accrued expenses                                                                                                        |   | $        | 1,423   |   |         | $      | 3,128 |   |
|                                                                                                                                         |   |     |    |   |         |   |   |   |
|       Total liabilities                                                                                             |   |     | 1,423   |   |         |   | 3,128 |   |
|                                                                                                                                         |   |     |    |   |         |   |   |   |
| Commitments and Contingencies:                                                                                                               |   |     | -       |   |         |   | - |   |
|                                                                                                                                         |   |     |    |   |         |   |   |   |
| Stockholders’ Equity:                                                                                                                  |   |     |    |   |         |   |   |   |
|      Preferred Stock, $.01 par value, 860 shares                                                                    |   |     |    |   |         |   |   |   |
|        authorized, issued and outstanding,                                                                |   |     |    |   |         |   |   |   |
|        aggregate liquidation preference $86,000                                                           |   |     |    |   |         |   |   |   |
|        at June 30, 2009 and December 31, 2008                                                             |   |     | -       |   |         |   | - |   |
|                                                                                                                                         |   |     |    |   |         |   |   |   |
|      Common Stock, $.01 par value, 1 share                                                                          |   |     |    |   |         |   |   |   |
|        authorized, issued and outstanding                                                                 |   |     | -       |   |         |   | - |   |
|      Additional paid-in capital                                                                                     |   |     | 78,956  |   |         |   | 78,956 |   |
|      Distributions in excess of retained earnings                                                                   |   |     | (14,464 | )      |         |   | (13,680 | ) |
|                                                                                                                                         |   |     |    |   |         |   |   |   |
|      Total Stockholders’ Equity                                                                               |   |     | 64,492  |   |         |   | 65,276 |   |
|                                                                                                                                         |   |     |    |   |         |   |   |   |
|      Total Liabilities and Stockholders’ Equity                                                               |   | $        | 65,915  |   |         | $      | 68,404 |   |
|                                                                                                                                         |   |
| See accompanying notes to consolidated financial statements.                                                                                 |   |

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| FSP Galleria North Corp.Consolidated Statements of Operations(Unaudited) |
|--------------------------------------------------------------------------|

|                                                          |   | For the            |   |   | For the          |   |
|---------------------------------------------------------------|--------|--------------------|--------|--------|------------------|--------|
|                                                          |   | Three Months Ended |   |   | Six Months Ended |   |
|                                                          |   | June 30,           |   |   | June 30,         |   |
| (in thousands, except shares and per share amounts)           |   | 2009               |   |   | 2008             |   |   | 2009 |   |   | 2008 |   |
|                                                          |   |               |   |   |             |   |   |   |   |   |   |   |
| Revenues:                                                     |   |               |   |   |             |   |   |   |   |   |   |   |
|      Rental                          |   | $                  | 2,251  |   |             | $      | 2,538 |   |   | $ | 5,022 |   |   | $ | 5,191 |   |
|                                                          |   |               |   |   |             |   |   |   |   |   |   |   |   |   |   |   |
|         Total revenue |   |               | 2,251  |   |             |   | 2,538 |   |   |   | 5,022 |   |   |   | 5,191 |   |
|                                                          |   |               |   |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Expenses:                                                     |   |               |   |   |             |   |   |   |   |   |   |   |   |   |   |   |
|                                                          |   |               |   |   |             |   |   |   |   |   |   |   |   |   |   |   |
|      Rental operating expenses       |   |               | 734    |   |             |   | 683 |   |   |   | 1,506 |   |   |   | 1,430 |   |
|      Real estate taxes and insurance |   |               | 80     |   |             |   | 344 |   |   |   | 525 |   |   |   | 687 |   |
|      Depreciation and amortization   |   |               | 549    |   |             |   | 547 |   |   |   | 1,098 |   |   |   | 1,094 |   |
|                                                          |   |               |   |   |             |   |   |   |   |   |   |   |   |   |   |   |
|        Total expenses      |   |               | 1,363  |   |             |   | 1,574 |   |   |   | 3,129 |   |   |   | 3,211 |   |
|                                                          |   |               |   |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Income before interest income                                 |   |               | 888    |   |             |   | 964 |   |   |   | 1,893 |   |   |   | 1,980 |   |
|                                                          |   |               |   |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Interest income                                               |   |               | 10     |   |             |   | 43 |   |   |   | 23 |   |   |   | 102 |   |
|                                                          |   |               |   |   |             |   |   |   |   |   |   |   |   |   |   |   |
|                                                          |   |               |   |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Net income attributable to preferred stockholders             |   | $                  | 898    |   |             | $      | 1,007 |   |   | $ | 1,916 |   |   | $ | 2,082 |   |
|                                                          |   |               |   |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average number of preferred shares outstanding,      |   |               |   |   |             |   |   |   |   |   |   |   |   |
|      basic and diluted               |   |               | 860    |   |             |   | 860 |   |   |   | 860 |   |   |   | 860 |   |
|                                                          |   |               |   |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Net income per preferred share, basic and diluted             |   | $                  | 1,044  |   |             | $      | 1,171 |   |   | $ | 2,228 |   |   | $ | 2,421 |   |
|                                                          |   |
| See accompanying notes to consolidated financial statements.  |   |

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| FSP Galleria North Corp.Consolidated Statements of Cash Flows(Unaudited) |
|--------------------------------------------------------------------------|

|                                                                                                                                                                                                  |   | For theSix Months EndedJune 30, |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------|--------|
| (in thousands)                                                                                                                                                                                        |   | 2009                            |   |   | 2008 |   |
| Cash flows from operating activities:                                                                                                                                                                 |   |                            |   |   |   |   |
|      Net income                                                                                                                                                              |   | $                               | 1,916  |   |   | $ | 2,082 |   |
|      Adjustments to reconcile net income to net cash                                                                                                                         |   |                            |   |   |   |   |   |   |
|              provided by operating activities:                                                                                       |   |                            |   |   |   |   |   |   |
|                      Depreciation and amortization                                           |   |                            | 1,098  |   |   |   | 1,094 |   |
|                      Amortization of favorable real estate leases                            |   |                            | 150    |   |   |   | 148 |   |
|               Changes in operating assets and liabilities:                                                                      |   |                            |   |   |   |   |   |   |
|                      Tenant rent receivable                                                  |   |                            | 110    |   |   |   | 260 |   |
|                      Step rent receivable                                                    |   |                            | 16     |   |   |   | 16 |   |
|                      Prepaid expenses and other assets                                       |   |                            | (392   | ) |   |   | 6 |   |
|                      Accounts payable and accrued expenses                                   |   |                            | (1,705 | ) |   |   | (804 | ) |
|                                                                                                                                                                                                  |   |                            |   |   |   |   |   |   |
|                           Net cash provided by operating activities |   |                            | 1,193  |   |   |   | 2,802 |   |
|                                                                                                                                                                                                  |   |                            |   |   |   |   |   |   |
| Cash flows from investing activities:                                                                                                                                                                 |   |                            |   |   |   |   |   |   |
|      Purchase of real estate assets                                                                                                                                          |   |                            | -      |   |   |   | (27 | ) |
|                                                                                                                                                                                                  |   |                            |   |   |   |   |   |   |
|                           Net cash used for investing activities    |   |                            | -      |   |   |   | (27 | ) |
|                                                                                                                                                                                                  |   |                            |   |   |   |   |   |   |
| Cash flows from financing activities:                                                                                                                                                                 |   |                            |   |   |   |   |   |   |
|      Distributions to stockholders                                                                                                                                           |   |                            | (2,700 | ) |   |   | (3,390 | ) |
|                                                                                                                                                                                                  |   |                            |   |   |   |   |   |   |
|                           Net cash used for financing activities    |   |                            | (2,700 | ) |   |   | (3,390 | ) |
|                                                                                                                                                                                                  |   |                            |   |   |   |   |   |   |
| Net decrease in cash and cash equivalents                                                                                                                                                             |   |                            | (1,507 | ) |   |   | (615 | ) |
|                                                                                                                                                                                                  |   |                            |   |   |   |   |   |   |
| Cash and cash equivalents, beginning of period                                                                                                                                                        |   |                            | 9,265  |   |   |   | 8,908 |   |
|                                                                                                                                                                                                  |   |                            |   |   |   |   |   |   |
| Cash and cash equivalents, end of period                                                                                                                                                              |   | $                               | 7,758  |   |   | $ | 8,293 |   |
|                                                                                                                                                                                                  |   |                            |   |   |   |   |   |   |
| See accompanying notes to consolidated financial statements.                                                                                                                                          |   |

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| Quarter Paid           |   | Distributions PerPreferred Share |   |   | TotalDistributions |   |
|------------------------|--------|--------------------------------------------|--------|--------|--------------------|--------|
|                   |   |                                       |   |   |               |   |
| First quarter of 2009  |   | $                                          | 1,744  |   |               | $      | 1,500,000 |   |
| Second quarter of 2009 |   | $                                          | 1,395  |   |               | $      | 1,200,000 |   |
| First quarter of 2008  |   | $                                          | 1,995  |   |               | $      | 1,716,000 |   |
| Second quarter of 2008 |   | $                                          | 1,947  |   |               | $      | 1,674,000 |   |

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| Date                                  | Signature                                                                      | Title                                                |
|---------------------------------------|--------------------------------------------------------------------------------|------------------------------------------------------|
|                                  |                                                                           |                                                 |
| Date:  August 7, 2009       | /s/ George J. Carter      George J. Carter  | President(Principal Executive Officer)               |
|                                  |                                                                           |                                                 |
| Date:  August 7, 2009  | /s/ Barbara J. Fournier     Barbara J. Fournier  | Chief Operating Officer(Principal Financial Officer) |

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| Exhibit No. | Description                                                                                                                                                                       |
|-------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|        |                                                                                                                                                                              |
| 31.1        | Certification of FSP Galleria North Corp.'s principal executive officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.                                                |
|        |                                                                                                                                                                              |
| 31.2        | Certification of FSP Galleria North Corp.'s principal financial officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.                                                |
|        |                                                                                                                                                                              |
| 32.1        | Certification of FSP Galleria North Corp.'s principal executive officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |
|        |                                                                                                                                                                              |
| 32.2        | Certification of FSP Galleria North Corp.'s principal financial officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |

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