- 20-year firm term lease with U.S. Government
WASHINGTON–(BUSINESS WIRE)–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 and its adjacent partners, announced today that it has been awarded a 20-year non-cancelable lease for a 40,035 rentable square foot Federal District and Federal Magistrate Courthouse in Medford, Oregon (“JUD – Medford”).
JUD – Medford is expected to be a state-of-the-art, two-story courthouse that is designed to meet LEED Silver for New Construction. The facility is expected to be designed according to the Government’s specific requirements for a district courthouse. In addition to the District and Federal Magistrate courtrooms, the courthouse is expected to also house the offices for both U.S. Senators, U.S. Marshal Service, a Probation Office, and U.S. Attorneys Office, all under the same 20-year non-cancelable lease.
“We continue to deliver cost savings to federal agencies through leasing Class A, mission-critical real estate,” said Darrell Crate, President & Chief Executive Officer of Easterly Government Properties. “With roughly 95% of our portfolio in firm-term, this lease award highlights our competitive advantage to develop as the government increasingly relies on leasing as a source of taxpayer efficiency going forward.”
Sitework is slated to commence in the first half of 2026 with an anticipated delivery date in the second half of 2027. Once delivered, a brand-new 20-year firm term lease will commence with the General Services Administration for the benefit of the United States Judiciary.
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 primarily 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, 2025. 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
Senior Vice President, Investor Relations & Operations
202-596-3947
[email protected]
