Easterly Government Properties Announces Lease Commencement for 210,373 SF FEMA Distribution Center Re-Development in Tracy, CA
WASHINGTON--(BUSINESS WIRE)--Oct 4, 2018--Easterly Government Properties, Inc. (NYSE: DEA) (“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, announced today that the lease has commenced at the newly re-developed 210,373-square foot Federal Emergency Management Agency (FEMA) facility located in Tracy, California (“FEMA - Tracy”).
As previously announced, Easterly acquired the rights to a lease award to re-develop the new FEMA distribution center, one of eight regional distribution centers located throughout the country. The approximately $44 million project is substantially completed and a 20-year non-cancelable lease has commenced with the General Services Administration (GSA) for the beneficial use of FEMA.
The FEMA - Tracy property is a mission critical, industrial building that sits on just over 19 acres of land and includes a blend of office, warehouse, and conditioned space for full-time cold storage. FEMA - Tracy will further enable FEMA to serve the mission critical function of providing much needed supplies and support to U.S. citizens faced with disaster.
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.
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CONTACT: Easterly Government Properties, Inc.
Lindsay S. Winterhalter, 202-596-3947
Vice President, Investor Relations & Operations
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA DISTRICT OF COLUMBIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES REIT FINANCE CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE
SOURCE: Easterly Government Properties, Inc.
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PUB: 10/04/2018 09:00 AM/DISC: 10/04/2018 09:00 AM