WASHINGTON--(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 an 83,676-square foot U.S. Department of the Treasury facility in Birmingham, Alabama.
TREAS - Birmingham, as part of the Bureau of Fiscal Service (BFS), is a modern, Class A build-to-suit facility constructed in 2014 and 100% leased to the Treasury through the General Services Administration (GSA). This first-generation leased facility features three stories and resides on a nearly four-acre site. The property is leased for an initial 15-year, non-cancelable term that expires in December of 2029.
“We are incredibly pleased to welcome this important, mission critical ‘bullseye’ facility into our growing portfolio,” said William C. Trimble III, Easterly’s Chief Executive Officer. “Imperative government functions are being performed in this highly specialized, young, build-to-suit facility.”
This facility houses the Treasury’s Debt Management Services Operation Center, which falls under the supervision of the Treasury’s Financial Management Service. This service is responsible for the highly important mission of collecting the Government’s non-tax receivables and debt collection activities. As such, the building is equipped with numerous security features such as wedge barriers, controlled access with 24/7 monitoring and secure perimeter fencing. The building also helps fulfill the agency’s mission by providing for triple redundancy through multiple generators, housing an extended-hours call center and providing raised flooring to accommodate the tenant’s comprehensive Information Technology requirements.
“Easterly continues to use its definable edge to deliver on its goal of scaling the portfolio through accretive acquisitions,” said Darrell Crate, Easterly’s Chairman. “Easterly’s portfolio is built upon the strength of our tenants’ credit quality, which provides strong visibility for future cash flow growth.”
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.
