HC Government Realty Trust, Inc. Announces Acquisitions of Two Federal Government Properties in Columbia, SC and Portland, ME
~ Expands Portfolio to 23 Properties Across 11 Federal Agencies in 15 States ~
U.S. Citizenship & Immigration Services, Portland, Maine
WINSTON-SALEM, NC -- HC Government Realty Trust, Inc. (“HCGRT”), a fully integrated real estate investment trust focused on the acquisition, development and management of commercial properties leased to the U.S. Government, today announced that it has completed the acquisition of its 22nd and 23rd Federal government properties.
The Columbia, South Carolina facility is a 19,368 square foot, single-tenant property which was developed to meet the specific mission-critical requirements of the Drug Enforcement Administration (DEA). The build-to-suit property, fully renovated in 2020, is 100% leased under a 15-year commitment ending in August 2035. The lease is backed by the full faith and credit of the United States of America.
The Portland, Maine facility is a 15,500 square foot, single-tenant property which will be developed to meet the specific mission-critical requirements of the U.S. Citizenship & Immigration Services (CIS). The property, currently undergoing full renovation, is 100% leased under a 15-year commitment estimated to commence in May 2021. The lease is also backed by the full faith and credit of the United States of America.
Steve Hale, Chairman and Chief Executive Officer of HCGRT, commented, “These two new properties fit squarely in our “bullseye” of first generation, mission-critical Federal government properties with long duration lease terms. We are grateful for our partnership with government developers, brokers and owners as we continue to grow our long-leased portfolio of properties.”
HCGRT’s strategy is to acquire and operate built-to-suit properties leased to the United States of America that fulfill mission-critical or direct citizen service functions. The Company’s real estate portfolio currently includes 23 properties representing approximately 438,000 rentable square feet across 11 different agencies located in 15 states.
For more information, please visit our corporate website at www.hcgovtrust.com.
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Released October 22, 2020