Easterly Government Boosts Portfolio With IRS Facility Buyout

Group 1 - Easterly Government Properties (DEA) has acquired a 100,000-square-foot Internal Revenue Service (IRS) facility in Ogden, UT, increasing its portfolio to 97 properties totaling 9.5 million square feet [1] - The Ogden facility is fully leased to the General Services Administration for IRS operations, meeting level 4 security requirements and housing critical functions related to tax submission processing and digital fraud [2] - The lease for the Ogden facility is set to expire in January 2029, with two five-year extension options available, ensuring long-term rental revenue stability [3] Group 2 - DEA has been actively pursuing strategic acquisitions, including a recent purchase of a 104,136-square-foot facility near Buckley Space Force Base, which is fully leased to Northrop Grumman Systems Corporation [4] - The company focuses on acquiring, developing, and managing class A commercial properties leased to the U.S. Government, positioning itself for steady long-term rental income [5] - Despite a 6.7% increase in shares over the past six months, DEA has underperformed compared to the industry growth of 17.3%, indicating a potential entry point for investors [5]