Easterly Government Properties Acquires 97,718 SF Department of Veterans Affairs Consolidated Mail Outpatient Pharmacy in North Charleston, South Carolina
WASHINGTON--(BUSINESS WIRE)--Nov 9, 2020--
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 a 97,718-square foot Department of Veterans Affairs (VA) Consolidated Mail Outpatient Pharmacy (CMOP) in North Charleston, South Carolina (“VA - Charleston”).
VA - Charleston, a recently delivered single story warehouse, is one of seven regional CMOP’s for the VA that are strategically located throughout the country. Services offered at this facility include the filling, packaging and distribution of prescription medicine for veterans residing within this CMOP’s regional territory. Notably, VA - Charleston is only one of two CMOPs nationwide that has been authorized to handle the distribution of controlled substances. The VA has demonstrated its long-term commitment to this location through the execution of a brand new, non-cancelable 20-year lease that does not expire until the end of September 2040 and has heavily invested in this facility with a number of service-enhancing capital improvements.
This highly automated Class A Green Globe Certified warehouse resides on an 8.6 acre site and includes an expansive production floor, a concrete truck court featuring eight dock positions and one oversized drive-in door, generous column spacing of 50’ x 50,’ 22,412-square feet of office space and is serviced by VA employees in two shifts consisting of approximately 190 employees per shift for its daily operations.
“The Easterly platform continues to grow externally through the acquisition of another bullseye, mission critical government-leased asset,” said William C. Trimble, III, Easterly’s Chief Executive Officer. “Easterly has demonstrated sizeable growth and increased portfolio diversification as we work towards our stated goal of $200 million in acquisitions for 2020.”
VA - Charleston marks the Company’s sixth acquisition this year, contributing to the approximately 10% year-to-date growth in the size of the Company’s U.S. Government leased portfolio by leased square footage.
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 25, 2020 and our Quarterly Report on Form 10-Q on November 2, 2020. 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.
View source version on businesswire.com:https://www.businesswire.com/news/home/20201109005073/en/
CONTACT: Easterly Government Properties, Inc.
Lindsay S. Winterhalter
Vice President, Investor Relations & Operations
KEYWORD: UNITED STATES NORTH AMERICA DISTRICT OF COLUMBIA
INDUSTRY KEYWORD: OTHER GOVERNMENT COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY FINANCE BANKING REIT PUBLIC POLICY/GOVERNMENT PROFESSIONAL SERVICES OTHER CONSTRUCTION & PROPERTY
SOURCE: Easterly Government Properties, Inc.
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PUB: 11/09/2020 09:00 AM/DISC: 11/09/2020 09:01 AM