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 sold its 59,322-square
foot U.S. Customs and Border Protection (CBP) facility located in Chula
Vista, California (“CBP – Chula Vista”).
Constructed in 1998, CBP – Chula Vista is a build-to-suit property that
serves as the San Diego Sector Headquarters. The facility covers all of
San Diego County and oversees eight CBP stations in various submarkets
for total coverage of 7,000 square miles. The facility is 100% occupied
by CBP and the lease was recently renewed for a 10-year term, expiring
in 2028.
“CBP – Chula Vista was acquired as part of our formation transactions at
the time of our initial public offering,” said William C. Trimble, III,
Easterly’s Chief Executive Officer. “With a recently executed lease
renewal, we were well poised to earn an attractive yield on this
disposition while simultaneously lowering the average age of the
Company’s overall portfolio.”
With the recently announced purchases of JSC – Suffolk and FBI – New
Orleans, and the sale of CBP – Chula Vista, Easterly now owns 66
properties totaling 6.1 million square feet and maintains 100% portfolio
occupancy.
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, 2019. 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.
Contacts
Easterly Government Properties, Inc.
Lindsay S. Winterhalter
Vice
President, Investor Relations & Operations
202-596-3947
[email protected]
