~ Mission critical industrial facility meets Level 4 security requirements with advanced bomb detection capabilities and chemical sniffing K9s ~

WASHINGTON, November 22, 2024--(BUSINESS WIRE)--Easterly Government Properties, Inc. (NYSE: DEA) (the "Company" or "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 acquired a 100,000 leased square foot facility 100% leased to the General Services Administration (GSA) for the beneficial use of the Internal Revenue Service (IRS), located in Ogden, Utah ("IRS - Ogden"), a geographic hub for the agency.

The highly secure facility sits on 13 acres and houses mission-critical operations related to the IRS’ tax submission processing and Digital Fraud Department, which was first created within the location. Holding Level 4 U.S. Government security requirements due to the critical areas and systems within the property, IRS - Ogden maintains 24/7 security system monitoring, bomb detection equipment, chemical sniffing K9s, gated access, guard stations, a receipt control and deposit center, and numerous pieces of specialized equipment to facilitate the IRS’ core functions including administering the Internal Revenue Code and pursuing instances of erroneous or fraudulent tax filings.

"Today’s announcement reinforces our commitment to growing our long-term cash flows and generating durable returns for the foreseeable future," said Darrell Crate, President and CEO of Easterly Government Properties. "With this acquisition, we remain focused on executing our robust pipeline and delivering shareholder value through accretive deals, while enabling high credit U.S. Government agencies to deliver greater cost efficiencies."

IRS - Ogden is used as the IRS’s internal mail processing center and features a lease that expires in January 2029 and contains two five-year options that extend the lease through January 2039. This facility is one of only two IRS processing centers within the U.S. and maintains three staffing shifts, with up to 850 employees per shift onsite daily during high volume periods. To build upon its on-site operations, the IRS is actively relocating its Imaging Department from its Cincinnati location to the Ogden facility and adding 4 new high-speed scanners.

With this acquisition, Easterly owns, directly or through the Company’s joint venture, 97 properties totaling 9.5 million leased square feet.