HC Government Realty Trust, Inc. announces the recent acquisition of the U.S. Department of Agriculture Sterile Insect Release Facility (USDA SIRF) in Sarasota, Florida
SARASOTA, Fla., Oct. 17, 2018 (GLOBE NEWSWIRE) -- HC Government Realty Trust, Inc. (“HCGRT” or “the Company”) today announced that it has recently completed the acquisition of a specialized USDA SIRF building in Sarasota, FL.
The Sarasota facility is a 28,210 square foot, single-tenant office and laboratory building which was developed to meet the specific requirements of the U.S. Department of Agriculture (USDA). The property is located at 7525 Commerce Court, Sarasota, Florida and is 100% leased under a 20 year lease commitment ending in May of 2038. Stan Johnson Company served as buyer’s broker. The lease is backed by the full faith and credit of the United States of America.
“This acquisition marks quite a unique opportunity for the Company both in the very specific function of the facility for the USDA and the property’s location right in our back yard,” said Ed Stanton, chief executive officer of HC Government Realty Trust and Holmwood Capital Advisors, the REIT’s external manger. “This property is the first of its kind serving as the prototype for the USDA’s new sterile insect release facilities and replaces their previous location with a brand new high-tech facility.”
The Company’s strategy is to acquire and operate built-to-suit and refit-to-suit properties leased to the United States of America that fulfill mission-critical or direct citizen service functions primarily located across secondary or smaller markets. The Company’s real estate portfolio currently includes 16 properties representing approximately 321,000 RSF and houses 11 different tenant agencies located in 11 states.
For more information, please visit our corporate website at www.hcgovtrust.com.
About this Press Release
This press release is neither an offer to sell, nor a solicitation of an offer to buy, any securities of the Company, including without limitation the common stock. Any such offer is made exclusively through the Company’s final offering circular dated November 7, 2016, as the same may be amended or supplemented (the “Final Offering Circular”). The Final Offering Circular, as supplemented, is available at:
We make statements in this press release that are considered “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), which are usually identified by the use of words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “may,” “plans,” “projects,” “seeks,” “should,” “will,” and variations of such words or similar expressions. We intend for these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and are including this statement in this press release for purposes of complying with those safe harbor provisions. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Although we believe that our plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control. For further discussion of the factors that could affect outcomes, please refer to the risk factors set forth in the “Risk Factors” section of the Final Offering Circular. We assume no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
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Released October 17, 2018