Easterly Government Properties Acquires Three Building Campus Leased to AAA Rated Wake County in Cary, North Carolina
03 12월 2024 - 10:00PM
Business Wire
~ Easterly acquires a 295,253 square foot
campus located in Cary, North Carolina ~
Easterly Government Properties, Inc. (NYSE: DEA) (the “Company”
or “Easterly”), 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 and its
adjacent partners, announced today that it has acquired a 97%
leased, combined 295,253 square foot campus across three assets
leased primarily to the Wake County Public School System
(WCPSS).
The three properties serve as multi-purpose facilities,
functioning as both operational headquarters and public-facing
service centers that are critical to the tenant’s mission. WCPSS
first occupied these facilities in 2011 under a lease that does not
expire until 2034.
“Easterly's accelerated acquisition activity underscores our
ability to pursue accretive capital deployment opportunities and
deliver earnings growth to shareholders,” said Darrell Crate,
President & CEO of Easterly Government Properties. “With this
acquisition, we continue to increase our cash flows derived from a
AAA rated government tenancy and maintain our portfolio's weighted
average remaining lease term.”
The three properties in the WCPSS campus include:
- Wake County I - Cary: 75,401 square foot facility 100% leased
to WCPSS through June 30, 2034 with annual rent escalations
- Wake County II - Cary: 98,340 square foot facility 100% leased
to WCPSS through June 30, 2034 with annual rent escalations
- Wake County III - Cary: 121,512 square foot facility
- 63% leased to WCPSS through June 30, 2034 with annual rent
escalations,
- 31% leased to Jacobs Engineering with annual rent escalations,
and
- 6% currently available for future leasing as a value-add
opportunity
With this acquisition, Easterly owns, directly or through the
Company’s joint venture, 100 properties totaling 9.8 million leased
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 27, 2024. 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/20241203979509/en/
Easterly Government Properties, Inc. Lindsay S. Winterhalter
Senior Vice President, Investor Relations & Operations
202-596-3947 ir@easterlyreit.com
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