Easterly Government Properties, Inc. has acquired a 176,550 square foot portfolio of three U.S. Government-leased properties.
The three-building portfolio is comprised of:
• Federal Bureau of Investigation (FBI) field office in Knoxville, Tennessee. FBI – Knoxville is a 99,130 leased square foot LEED Certified, built-to-suit property completed in 2010 and leased until August 2025 for an initial 15-year firm term.
• U.S. Attorney’s Office (USAO) facility in Louisville, Kentucky. USAO – Louisville, a 60,000 leased square foot built-to-suit property completed in 2011, is leased through December 2031 by the GSA on behalf of the US Attorney for the Western District of Kentucky, which serves as the main US Attorney office for this District.
• U.S. Immigration and Customs Enforcement (ICE) office in Louisville, Kentucky. ICE – Louisville, a LEED Silver, built-to-suit office facility completed in 2011, is leased through May 2021 to the GSA on behalf of ICE.
“This was a wonderful acquisition opportunity for Easterly,” said William C. Trimble, III, Easterly’s Chief Executive Officer in a statement.
“We are able to grow the company’s total enterprise through the purchase of an attractive portfolio of three LEED Certified, build-to-suit mission critical facilities with first generation leases. We are delighted to welcome these important, bullseye facilities into our growing portfolio,” he added.
Easterly said FBI – Knoxville and USAO – Louisville have 25,850-square feet and 19,456-square feet, respectively, of potential expansion space for the underlying tenant agencies’ future needs.
Easterly’s acquisition value was predicated on the current leased square footage across the portfolio. With this portfolio acquisition, Easterly now owns 82 properties totaling 7.5 million leased square feet.
Easterly Government Properties, Inc. is 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.