Easterly Government Properties Buys Alabama MOB

The REIT added a built-to-suit Department of Veterans Affairs outpatient clinic to its growing portfolio.
Mobile VA Clinic
Mobile VA Clinic. Image via Google Street View

Easterly Government Properties has acquired a 79,212-square-foot Department of Veterans Affairs outpatient clinic in Mobile, Ala. The build-to-suit facility, part of the Gulf Coast Veterans Health Care System, serves approximately 54,000 veterans in the surrounding region.

Completed in 2018, the two-story property at 4444 Demetropolis Road replaces the prior VA clinic in Mobile. The new facility provides medical and ancillary assistance including primary care, mental health and laboratory services.

The U.S. government leases the building under an initial 15-year non-cancelable term, due in December 2033. According to Easterly’s website, the REIT’s growing portfolio encompasses five other facilities leased to the U.S. Department of Veterans Affairs, located in Louisiana, Colorado, California and Indiana.

In a recent deal, Easterly completed the acquisition of the El Paso Federal Justice Center, a 203,269-square-foot property that serves as the regional offices for the FBI and the DEA in El Paso, Texas. The government agencies have shared office space in the property since 1998.