Easterly Government Properties Inc. (NYSE: DEA), a real estate investment trust (REIT) focused primarily on the acquisition, development and management of Class A commercial properties leased to the U.S. Government, has acquired a 97,969-square-foot facility in Atlanta that is primarily occupied by two branches of the U.S. Department of Homeland Security (DHS).
The 93% leased facility recently underwent an extensive renovation for the beneficial use of the Transportation Security Administration (TSA) and U.S. Customs and Border Protection (CBP). The two tenants recently executed leases that provide for occupancy of up to 15 years through 2038. Another 17,373 square feet within the property is occupied by a private tenant, and an additional 6,784 square feet available for future leasing.
“We are excited to return to our external growth strategy with the acquisition of this highly important U.S. Government-backed asset,” said William C. Trimble III, CEO of the Washington, D.C.-headquartered Easterly. “As we continue to see the acquisition market normalize, we look forward to executing on our goal of delivering growth and accretion to our shareholders in the coming quarters.”