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WASHINGTON- Eastern government property , Inc. (NYSE:), a real estate investment trust specializing in properties leased to the U.S. government, has secured a 20-year lease to develop a federal courthouse in Flagstaff, Arizona. The new facility, called JUD – Flagstaff, will be the company’s first net-zero emissions development project, aligned with its environmental, social and governance (ESG) goals.
The planned three-story courthouse is designed to meet Level III safety standards, featuring a steel frame and natural stone cladding. It will incorporate CPTED (Crime Prevention through Environmental Design) principles and include various security features such as perimeter fences and security measures to separate different groups within the building.
Easterly CEO Darrell Crate expressed excitement about the partnership with the U.S. government, noting the company’s experience developing specialty market properties.
The project is expected to begin work on the site in late 2024 or early 2025, with completion expected in the first half of 2026. Upon delivery, a new 20-year fixed-term lease will begin with l General Services Administration for the U.S. Judiciary.
The courthouse aims to achieve LEED Silver certification and will be built as a net-zero emissions facility, a significant milestone for Easterly’s portfolio. This commitment to sustainability is part of the company’s broader ESG mission.
Washington, D.C.-based Easterly Government Properties has a portfolio of Class A commercial properties leased primarily through the U.S. General Services Administration. The company’s management team specializes in the strategic and operational needs of mission-critical U.S. government agencies.
This story is based on a press release.
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