We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Easterly (DEA) Secures Lease to Develop Courthouse in Flagstaff
Read MoreHide Full Article
Easterly Government Properties, Inc. (DEA - Free Report) recently announced that it has been awarded a lease to develop a 50,777 rentable square foot Federal courthouse in Flagstaff, AZ.
This cutting-edge project represents Easterly's first net-zero development endeavor, signaling a pivotal moment in the company's commitment to sustainable real estate solutions. The 20-year non-cancelable lease, slated to commence upon project completion, underscores Easterly's recognized expertise in the specialized market of government property development.
The Flagstaff courthouse, designated as JUD - Flagstaff, is envisioned as a state-of-the-art, three-story facility constructed in accordance with Level III security standards. Embracing Crime Prevention Through Environmental Design principles, the courthouse integrates robust safety features, such as perimeter fencing, natural barriers and setback requirements. Furthermore, it is intended to be a LEED Silver-certified, net-zero facility, setting a new standard in Easterly's portfolio and reinforcing its dedication to environmental, social and governance principles.
Beyond its sustainability credentials, JUD - Flagstaff prioritizes functionality and security. The design incorporates secured parking and a designated pathway for transporting defendants to ensure safe and efficient court proceedings. With three independent paths of travel throughout the facility, the separation of defendants, judges and the public is meticulously ensured, upholding the integrity of the judicial process.
Darrell Crate, Easterly’s chief executive officer, expressed enthusiasm for the partnership with the U.S. Government, emphasizing the company's ability to deliver mission-critical infrastructure while maintaining a competitive edge in the market. The anticipated commencement of site work in late 2024 or early 2025 sets the stage for timely project delivery, with expectations for completion in the first half of 2026. Following delivery, a 20-year firm-term lease with the General Services Administration will serve the U.S. Judiciary's needs, ensuring long-term value for Easterly and its shareholders.
Headquartered in Washington, D.C., Easterly Government Properties specializes in acquiring, developing and managing Class A commercial properties leased to the U.S. government. With a focus on innovation, security and environmental responsibility, DEA reaffirms its position as a leading player in the government property sector, poised for sustained growth and value creation in the years ahead.
However, reflecting broader market concerns, shares of this Zacks Rank #3 (Hold) company have declined 0.5% in the past month against the S&P 500’s increase of 2.4%.
The Zacks Consensus Estimate for IRM’s 2024 funds from operations (FFO) per share is pegged at $4.38, which suggests year-over-year growth of 6.3%.
The Zacks Consensus Estimate for SLG’s 2024 FFO per share stands at $5.88, which indicates an increase of 19.03% from the year-ago period.
Note: Anything related to earnings presented in this write-up represents FFO — a widely used metric to gauge the performance of REITs.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Easterly (DEA) Secures Lease to Develop Courthouse in Flagstaff
Easterly Government Properties, Inc. (DEA - Free Report) recently announced that it has been awarded a lease to develop a 50,777 rentable square foot Federal courthouse in Flagstaff, AZ.
This cutting-edge project represents Easterly's first net-zero development endeavor, signaling a pivotal moment in the company's commitment to sustainable real estate solutions. The 20-year non-cancelable lease, slated to commence upon project completion, underscores Easterly's recognized expertise in the specialized market of government property development.
The Flagstaff courthouse, designated as JUD - Flagstaff, is envisioned as a state-of-the-art, three-story facility constructed in accordance with Level III security standards. Embracing Crime Prevention Through Environmental Design principles, the courthouse integrates robust safety features, such as perimeter fencing, natural barriers and setback requirements. Furthermore, it is intended to be a LEED Silver-certified, net-zero facility, setting a new standard in Easterly's portfolio and reinforcing its dedication to environmental, social and governance principles.
Beyond its sustainability credentials, JUD - Flagstaff prioritizes functionality and security. The design incorporates secured parking and a designated pathway for transporting defendants to ensure safe and efficient court proceedings. With three independent paths of travel throughout the facility, the separation of defendants, judges and the public is meticulously ensured, upholding the integrity of the judicial process.
Darrell Crate, Easterly’s chief executive officer, expressed enthusiasm for the partnership with the U.S. Government, emphasizing the company's ability to deliver mission-critical infrastructure while maintaining a competitive edge in the market. The anticipated commencement of site work in late 2024 or early 2025 sets the stage for timely project delivery, with expectations for completion in the first half of 2026. Following delivery, a 20-year firm-term lease with the General Services Administration will serve the U.S. Judiciary's needs, ensuring long-term value for Easterly and its shareholders.
Headquartered in Washington, D.C., Easterly Government Properties specializes in acquiring, developing and managing Class A commercial properties leased to the U.S. government. With a focus on innovation, security and environmental responsibility, DEA reaffirms its position as a leading player in the government property sector, poised for sustained growth and value creation in the years ahead.
However, reflecting broader market concerns, shares of this Zacks Rank #3 (Hold) company have declined 0.5% in the past month against the S&P 500’s increase of 2.4%.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks from the broader REIT sector are Iron Mountain (IRM - Free Report) and SL Green Realty Corp. (SLG - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for IRM’s 2024 funds from operations (FFO) per share is pegged at $4.38, which suggests year-over-year growth of 6.3%.
The Zacks Consensus Estimate for SLG’s 2024 FFO per share stands at $5.88, which indicates an increase of 19.03% from the year-ago period.
Note: Anything related to earnings presented in this write-up represents FFO — a widely used metric to gauge the performance of REITs.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.