Darrell Crate, co-founder and CEO of Easterly Government Properties, Inc . (NYSE: DEA), joined Nareit’s REIT Report podcast to share his insight into how the REIT is addressing the commercial real estate needs of mission-critical U.S. government agencies.
Crate noted that Easterly has been focused on efficiency since before the Trump administration created the Department of Government Efficiency (DOGE). “DOGE is a tailwind. We could not be more excited that the government's going to have the opportunity, through better processes, to take some of our ideas and move them forward,” he said.
During the interview, Crate noted that almost all of the REIT’s federal facilities are located outside Washington, D.C., “close to the people, close to where the mission is happening.” He also pointed out that Easterly has increased its total addressable market to include both state and local buildings, as well as government-adjacent facilities. “Finding these new mission critical, new technology agencies that are adjacent to the government is exactly what we want to grow in our portfolio,” he said.