Easterly Government Properties has acquired a 61,384 leased-square-foot multi-tenanted facility in Cleveland. The financial terms were not disclosed.
Various GSA – Cleveland, a three-story renovated-to-suit facility for the U.S. Department of Homeland Security (DHS), was substantially renovated in 2016 and 2021 and is leased to several key agencies within the U.S. government. Immigration and Customs Enforcement (ICE) occupies 66 percent of the building under a first generation 15-year lease that does not expire until August 2031. The National Weather Service (NWS) occupies 15 percent of the building under an initial 20-year term that does not expire until September 2040. Finally, the VNA Health Group (VNA), a nonprofit health care organization, occupies 19 percent of the building under an initial 10-year lease that does not expire until December 2028. In addition, the VNA has two five-year renewal options that, if exercised, would extend the lease term until December 2038.
