Easterly Government (NYSE: DEA) Properties acquires Colorado satellite facility

Easterly Government Properties Inc. (NYSE: DEA) acquired a 138,125 square foot facility in Greenwood Village, Colorado, the real estate investment trust announced. The property is fully leased to York Space Systems under a triple net lease that expires in 2031.

York Space Systems produces standardized small satellite platforms and serves as an industry partner of the U.S. Space Development Agency. The facility was renovated in 2020 and includes clean rooms for satellite and satellite component production. The lease includes annual escalations and provides York Space Systems with an option to extend for 10 years at market terms before expiration.

“This acquisition demonstrates our strategy of investing in mission-critical assets that directly support the U.S. Government and its most essential partners,” said Darrell Crate, President and CEO of Easterly.

The acquisition brings Easterly’s portfolio to 103 properties totaling 10.3 million square feet, owned directly or through joint ventures. Easterly focuses on acquiring, developing and managing Class A commercial properties leased to the U.S. Government and adjacent partners.