Easterly Government Properties Announces Lease Award for the Development of 52,870 SF FDA Laboratory in Lenexa, Kansas

~ Second Development Project with the FDA Since IPO ~

WASHINGTON--()--Easterly Government Properties, Inc. (NYSE:DEA)(“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, announced today that it has been awarded the lease for a 52,870 square foot Food and Drug Administration (FDA) laboratory in Lenexa, Kansas.

The FDA is the federal agency responsible for protecting and promoting the health and safety of the American public by assuring the safety, efficacy and security of human and veterinary drugs, our nation’s food supply, biological products, medical devices, and other products including cosmetics. Given its mission, the FDA plays a significant role in our nation’s counterterrorism capabilities by ensuring the security of the food supply and by fostering development of medical products to respond to deliberate and naturally emerging public health threats.

“It is our pleasure to have once again been chosen to serve as the U.S. Government’s partner as we work together to construct a brand new, state-of-the-art laboratory for the benefit of the FDA,” said Michael Ibe, Vice Chairman and EVP of Development and Acquisitions of Easterly Government Properties, Inc. “Easterly has a wonderful existing relationship with both the General Services Administration (GSA) and FDA through our current work on the FDA laboratory development project in Alameda, CA. We look forward to only strengthening that relationship as we proceed with the design and construction process in Lenexa.”

The FDA is a science-based, science-led organization, the success of which often depends on the ability of the agency's laboratories to quickly and accurately analyze samples and report results for regulatory action. The agency operates 13 high throughput field laboratories, located strategically across the country.

The FDA - Lenexa laboratory will be a relocation of the current Kansas City District Laboratory and will feature a number of upgraded capabilities in order for the FDA to effectively conduct its mission. With an increase in size of approximately 40% over its current location, the new state-of-the-art laboratory will offer services through the following laboratory sections: the Total Diet and Pesticides Research Center (TDPRC), Pesticides analysis, Chemotherapeutics / LC-MS Poison screening, Mycotoxins analysis, Drugs and Dietary Supplements analysis, Dioxins analysis, Metals / Elemental Specialization analysis, and Laboratory Administration. The buildout will require highly specialized and specific design features and functionality for the operations being performed in this facility. Upon completion, FDA - Lenexa will be leased to the GSA for a 20-year term.

“The differentiated capabilities of Michael Ibe and his team have once again enabled Easterly to compete successfully for this development lease award,” said Meghan Baivier, Chief Financial and Operating Officer of Easterly Government Properties, Inc. “The U.S. Government has selected Easterly to be its partner of choice on this highly technical, state-of-the-art laboratory construction project. It is because of Easterly’s thorough understanding of the U.S. Government’s procurement process and its demonstrated ability to deliver superior results to both the GSA and the underlying tenant agency that Easterly was successful in this lease award competition.”

About Easterly Government Properties, Inc.

Easterly Government Properties, Inc. (NYSE:DEA) is based in Washington, D.C., and focuses primarily on the acquisition, development and management of Class A commercial properties that are leased to the U.S. Government. Easterly’s experienced management team brings specialized insight into the strategy and needs of mission-critical U.S. Government agencies for properties leased primarily through the U.S. General Services Administration (GSA). For further information on the company and its properties, please visit www.easterlyreit.com.

This press release contains forward-looking statements within the meaning of federal securities laws and regulations. These forward-looking statements are identified by their use of terms and phrases such as “believe,” “expect,” “intend,” “project,” “anticipate,” “position,” and other similar terms and phrases, including references to assumptions and forecasts of future results. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors which may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. These risks include, but are not limited to those risks and uncertainties associated with our business described from time to time in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K filed on March 2, 2017. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that the expectations will be attained or that any deviation will not be material. All information in this release is as of the date of this release, and we undertake no obligation to update any forward-looking statement to conform the statement to actual results or changes in our expectations.

Contacts

Easterly Government Properties, Inc.
Lindsay S. Winterhalter, 202-596-3947
Vice President, Investor Relations & Operations
IR@easterlyreit.com

Release Summary

Easterly Government Properties, Inc. announced today that it has been awarded the lease for a 52,870 square foot Food and Drug Administration (FDA) laboratory in Lenexa, Kansas.

Contacts

Easterly Government Properties, Inc.
Lindsay S. Winterhalter, 202-596-3947
Vice President, Investor Relations & Operations
IR@easterlyreit.com