Newly-Public Easterly Government Properties REIT Buys Lakewood DOE Building

LAKEWOOD, CO—Easterly Government Properties, Inc. has closed on the acquisition of the 115,650-square foot government building here for $20.25 million. The Department of Energy (DOE) Western Area Power Administration (WAPA) headquarters building is Easterly’s first acquisition since the close of its $207 million initial public offering on February 11.

Easterly Government Properties focuses on the acquisition, development and management of class A commercial properties that are leased to the US government. Easterly now wholly owns approximately 2.2 million square feet of office, laboratory and specialized space in 30 properties throughout the US Currently, it leases more than 1.9 million square feet to US government agencies, and derives more than 96% of its income from its US government tenants. The new acquisition represents the company’s second asset in Lakewood, a major federal agency center in the Rocky Mountain region, joining another Lakewood building occupied by agencies of the US Department of Transportation.