SARASOTA, Fla., Oct. 17, 2018 (GLOBE NEWSWIRE) -- HC Government Realty Trust, Inc.  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.