Easterly Government Properties Acquires 95,273 SF Specialized Facility in Anaheim, California
05 10월 2023 - 10:00PM
Business Wire
Easterly Government Properties, Inc. (NYSE: DEA), a fully
integrated real estate investment trust focused primarily on the
acquisition, development and management of Class A commercial
properties leased to the U.S. Government, announced today that it
has acquired a 95,273 leased square foot Class A workers’
compensation adjudication and training facility located in Anaheim,
California and 100% leased by tenant agencies of the State of
California (“CA - Anaheim”).
Investment Details
Underlying Credit
State of California: AA- (S&P)
Wtd. Avg. Lease Term (WALT) /
Wtd. Avg. Expiration Date(1)
10.7 years /
January 2034
Construction / Renovation Date
1991 / 2020
Primary Tenant(s)
- Department of Industrial Relations
(DIR)
- Employment Development Department
(EDD)
Other Attributes
- A public facing facility with court
hearing rooms used for adjudicating workers’ compensation claims,
as well as training rooms for furthering employment
opportunities
- Facility occupied by State of California
agencies since 2009
- Demonstrated need of space with lease
renewal exercised post-pandemic and expanded tenancy within the
facility
(1) Assumes executed renewal lease for
25,085 leased square feet commences on November 1, 2023 upon
completion of currently ongoing renewal related tenant improvement
work.
Year to date, Easterly has acquired, either directly or through
the Company’s joint venture (JV), two properties for an aggregate
pro rata contractual purchase price of approximately $47.5 million,
comprised of (i) $29.3 million of wholly owned acquisitions; and
(ii) $18.2 million of JV acquisitions at its pro rata amount. With
this acquisition, Easterly owns, directly or through the JV, 88
properties totaling 8.7 million square feet.
About Easterly Government Properties, Inc.
Easterly Government Properties, Inc. (NYSE:DEA) is based in
Washington, D.C., and focuses primarily on the acquisition,
development and management of Class A commercial properties that
are leased to the U.S. Government. Easterly’s experienced
management team brings specialized insight into the strategy and
needs of mission-critical U.S. Government agencies for properties
leased to such agencies either directly or through the U.S. General
Services Administration (GSA). For further information on the
company and its properties, please visit www.easterlyreit.com.
This press release contains forward-looking statements within
the meaning of federal securities laws and regulations. These
forward-looking statements are identified by their use of terms and
phrases such as “believe,” “expect,” “intend,” “project,”
“anticipate,” “position,” and other similar terms and phrases,
including references to assumptions and forecasts of future
results. Forward-looking statements are not guarantees of future
performance and involve known and unknown risks, uncertainties and
other factors which may cause the actual results to differ
materially from those anticipated at the time the forward-looking
statements are made. These risks include, but are not limited to,
those risks and uncertainties associated with our business
described from time to time in our filings with the Securities and
Exchange Commission, including our Annual Report on Form 10-K filed
on February 28, 2023. Although we believe the expectations
reflected in such forward-looking statements are based upon
reasonable assumptions, we can give no assurance that the
expectations will be attained or that any deviation will not be
material. All information in this release is as of the date of this
release, and we undertake no obligation to update any
forward-looking statement to conform the statement to actual
results or changes in our expectations.
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version on businesswire.com: https://www.businesswire.com/news/home/20231005287792/en/
Easterly Government Properties, Inc. Lindsay S. Winterhalter
Supervisory Vice President, Investor Relations & Operations
202-596-3947 ir@easterlyreit.com
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