Easterly Government Properties Acquires 135,200 SF U.S. Immigration And Customs Enforcement Information Technology Facility Near Dallas, Texas; No Financial Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
Easterly Government Properties, Inc. (NYSE:DEA) has acquired a 135,200 square foot facility near Dallas, Texas, primarily leased to the U.S. Immigration and Customs Enforcement's OCIO and Office of Human Capital. The facility, which is 95% leased, includes two additional private tenants and has a weighted average initial lease term of 16.2 years. This acquisition is part of Easterly's strategy to enhance cashflows and provide accretive growth for shareholders, contributing to the company's portfolio of 91 properties totaling 8.9 million square feet.
April 16, 2024 | 1:01 pm
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Easterly Government Properties' acquisition of a facility leased to U.S. ICE near Dallas is expected to enhance cashflows and provide accretive growth, reinforcing its strategy of owning Class A commercial properties leased to the U.S. Government.
The acquisition of the ICE - Dallas facility aligns with Easterly's growth strategy and focus on properties leased to the U.S. Government, indicating a positive impact on the company's financial health and growth prospects. The long-term lease agreements and the creditworthiness of the tenants provide a stable revenue source, which is likely to be viewed positively by investors.
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