Easterly Government Properties Acquires 138,000 Square Foot FBI Field Office in Tampa, Florida

WASHINGTON–(BUSINESS WIRE)–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 U.S. government agencies, announced today 138,000 Land Acquisition Leased Local One Square Foot Federal Bureau of Investigation (FBI) Office in Tampa, Florida (“FBI – Tampa”).

FBI – Tampa is a four-story office building on an approximately seven-acre site that houses the FBI’s Tampa field office, which oversees federal operations in 18 counties through six satellite offices in Brevard, Ft. Myers, Lakeland, Orlando, Pinellas and Sarasota. This custom-built property was completed in 2005 and is 100% leased to the General Services Administration (GSA) for the beneficial use of the FBI through November 2040.

Serving under the jurisdiction of the Department of Justice, the FBI provides primary domestic intelligence, investigative, and law enforcement services on behalf of the United States. The FBI protects and defends the nation against threats such as terrorism, political corruption, white-collar crime, organized crime, cyberattacks, and violent crime. As a member of the American intelligence community and a leader in counterterrorism, counterintelligence, and criminal investigation in the United States, the FBI employs approximately 35,000 people and has an annual budget totaling approximately $10, $5 billion, based on fiscal year 2021 data.

The FBI Field Office – Tampa is enhanced with a number of security features, including but not limited to perimeter fencing, controlled access, blast protection, security setbacks, gates for vehicles, magnetometers and a SCIF space.

“With an investment strategy that has not faltered since its IPO, Easterly is excited to continue its partnership with the FBI, the second largest tenant in our portfolio,” said William C. Trimble, III, CEO from Easterly. “With this significant acquisition, Easterly now owns 13 of the FBI’s 56 highly specialized and mission-critical field offices, strategically located throughout the country.”

Easterly Government Properties remains the largest private owner of FBI field offices in the country.

Year-to-date, Easterly has acquired, either directly or through its previously announced joint venture (JV), three properties for an aggregate prorated contract purchase price of approximately $114.7 million, consisting (i) $92.7 million of the wholly owned acquisition target of $200.0-250.0 million; and (ii) $22.0 million of the joint venture’s prorated acquisition target of $145.0 million. Following the acquisition of FBI – Tampa, Easterly owns, directly or through the JV, 92 properties totaling 8.9 million square feet.

About Easterly Government Properties, Inc.

Easterly Government Properties, Inc. (NYSE: DEA) is based in Washington, DC, and is primarily focused on acquiring, developing and managing Class A commercial properties that are leased to the US government. Easterly’s experienced management team brings expert insight into the strategy and needs of critical U.S. government agencies for properties leased to those agencies, either directly or through the states’ General Services Administration (GSA) -United. For more information about 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 words and phrases such as “believe”, “expect”, “intend”, “project”, “anticipate”, “position” and other similar terms and expressions, 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 that may cause 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, the 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 February 28. 2022 and our Quarterly Report on Form 10-Q on May 3, 2022. Although we believe that the expectations reflected in these forward-looking statements are based on reasonable assumptions, we cannot guarantee that the expectations will be achieved or that any deviations will not be significant. All information contained in this release speaks as of the date of this release, and we undertake no obligation to update any forward-looking statements to conform to actual results or to changes in our expectations.

Denise W. Whigham