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 203,269-square foot Federal Justice Center, occupied by the Federal Bureau of Investigation (FBI) and Drug Enforcement Administration (DEA) in El Paso, Texas ("FBI / DEA - El Paso").
FBI / DEA - El Paso is a three-building compound constructed in stages between the years of 1998 and 2005 and is 100% leased for the beneficial use of the FBI and DEA under three leases that all expire in July 2028.
FBI / DEA - El Paso serves as one of the 56 Field Offices for the FBI as well as one of the DEA’s 23 Domestic Division Offices, both with a strategic location near the U.S / Mexico border. An FBI Field Office and a DEA Division Office are both considered the highest field level within their respective organizations. In partnership together since 1998, the two organizations are co-located in this space to combat the perpetual issues with illicit drugs coming into the country from across the border.
"Easterly continues to execute on its strategy of owning mission critical real estate leased to the U.S. Federal Government," said William C. Trimble, III, Easterly’s CEO. "The missions of the FBI and DEA are among the most important of the United States Justice Department. This El Paso joint facility, located right across the border from Ciudad Juarez, provides important federal law enforcement to the region. It is our privilege to house these two leading law enforcement agencies working together to further a common and enduring goal."
The compound sits on a nearly five-acre site and includes a wide array of security features, such as secure perimeter fencing, Secure Compartmented Information Facility (SCIF) space, ballistic glass, redundant power systems, a secure garage parking and a Visitors Screening Facility (VSF) that is currently under construction. The facility also houses two Evidence Response Teams (ERT), one for the FBI and the other for the DEA. The ERT programs support regional offices by providing highly trained and equipped teams that ensure evidence is collected in such a manner that it can be introduced in courts throughout the U.S. and the world.
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. 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.
Easterly Government Properties, Inc.
Lindsay S. Winterhalter
Vice President, Investor Relations & Operations