© Reuters.
WASHINGTON – Easterly Government Properties , Inc. (NYSE:), a real estate investment trust specializing in properties leased to the U.S. Government, has secured a 20-year lease to develop a Federal courthouse in Flagstaff, Arizona. The new facility, named JUD – Flagstaff, will be the company’s first net zero development, aligning with its environmental, social, and governance (ESG) goals.
The planned three-story courthouse is designed to meet Level III security standards, featuring a steel frame and natural stone cladding. It will incorporate Crime Prevention Through Environmental Design (CPTED) principles and include various safety features such as perimeter fencing and security measures to separate different groups within the building.
The Chief Executive Officer of Easterly, Darrell Crate, expressed enthusiasm about the partnership with the U.S. Government, emphasizing the company’s expertise in developing specialized market properties.
The project is expected to begin site work in late 2024 or early 2025, with completion anticipated in the first half of 2026. Upon delivery, a new 20-year firm term lease will commence with the General Services Administration for the U.S. Judiciary.
The courthouse aims to achieve LEED Silver certification and will be constructed as a net zero facility, a significant milestone for Easterly’s portfolio. This commitment to sustainability is part of the company’s broader ESG mission.
Easterly Government Properties, based in Washington, D.C., has a portfolio of Class A commercial properties leased primarily through the U.S. General Services Administration. The company’s management team specializes in the strategic and operational needs of mission-critical U.S. Government agencies.
This news is based on a press release statement.
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