DEA - Easterly Government Properties acquires 61.4K-square-foot facility in Cleveland

MediaProduction/E+ via Getty ImagesEasterly Government Properties (DEA) purchases a 61,384-leased-square-foot multi-tenanted facility in Cleveland, OH, as the REIT is almost halfway to its year acquisition target."The strength of the company's acquisition pipeline has been clearly demonstrated in the first half of 2021," CEO William Trimble, lll, said in a statement.The facility is leased to several U.S. government agencies, with the Immigration and Customs Enforcement occupying 66% of the building under a first generation 15-year lease that doesn't expire until August 2031.The National Weather Service occupies 15% of the building under an initial 20-year term that expires in September 2040; VNA Health Group, a nonprofit health care organization, occupies 19% of the building under an initial 10-year lease, expiring in December 2028.Shares of DEA are up 1.6% today.YTD, Easterly is 45%, or $134.2M complete with its $300M acquisition volume target for 2021; it has 85 properties totaling 7.7M square feet.Last month, Easterly Government

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Easterly Government Properties acquires 61.4K-square-foot facility in Cleveland