Government Properties Income Trust
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Government Properties Income Trust (NYSE:GOV) is a Real Estate Investment Trust based in Newton Massachusetts. It owns 6.5 million square feet office buildings that are leased mostly (93.6%) to the United States federal government.
GOV is externally managed by Reit Management & Research LLC (RMR). RMR is a large real estate management company founded in 1986. They also manage other publicly traded REITs. Adam D. Portnoy is the President.
Government Properties Income is a new REIT. It completed its Initial Public Offering in June 2009, close to the depths of the financial crisis. GOV is now included in the Russell 2000® Index and the MSCI US REIT Index (RMS/RMZ). They are located in Newton Massachusetts.
Government Properties Income Trust is Picking Stable Government Income Over Exciting Growth
Government Properties REIT is succeeding by adapting to the times. Although the private sector in the United States is in rough shape, the United States government is expanding, or at least holding steady. Government agencies prefer long-term leases and stable locations. And the government pays on time according to its contracts. It can be demanding in terms of its requirements, but will work with you. And after you meet their conditions, it's easier for them to keep you than to move to another location.
They now own about $793 million dollars worth of office properties. That's 6.5 million square feet located in and around Washington D.C. and in twenty-four states. And that's fifty-three separate properties. Forty-three are leased to the United States federal government. The other ten commercial buildings are leased to the state governments of California, Maryland, Massachusetts, Minnesota and South Carolina.
Government Properties Income's Portfolio Includes:
Phoenix, 201 Indianola Avenue, Phoenix, AZ; Safford, 744 14th Avenue, Safford, AZ; 3285 E. Hemisphere Loop, Tucson, AZ; IRS Service Center, 5045 East Butler Avenue, Fresno, CA; 915 L. Street, Sacramento, CA; 9800 Goethe Road, Sacramento, CA; 4181 Ruffin Road, San Diego, CA; Aero Drive, 9797 Aero Drive, San Diego, CA; San Diego Viewridge, 4560 Viewridge Road, San Diego, CA; Sky Park Centre II, 9174 Sky Park Court, San Diego, CA; Golden, 16194 West 45th Street, Golden, CO; 12795 West Alameda Parkway, Lakewood, CO; 7201 Corporate Center, 7201 West Mansfield Avenue, Lakewood, CO; 7301 Corporate Center, 7301 West Mansfield Avenue, Lakewood, CO; 7401 Corporate Center, 7401 West Mansfield Avenue, Lakewood, CO; 20 Massachusetts Avenue, NW Washington, DC; 625 Indiana Avenue, Washington, DC; Corporate Square 1, 1 Corporate Boulevard, Atlanta, GA; Corporate Square 10, 10 Corporate Boulevard, Atlanta, GA; Corporate Square 11, 11 Corporate Boulevard, Atlanta, GA; Corporate Square 12, 12 Corporate Boulevard, Atlanta, GA; Corporate Square 8, 8 Corporate Boulevard, Atlanta, GA; Executive Park 12 12 Executive Park Drive Atlanta, GA; 220 E. Bryan Street 220 E. Bryan Street Savannah, GA; 2020 South Arlington Heights Road Arlington Heights, IL; Gateway Tower II, 400 State Avenue, Kansas City, KS; Metro Executive Center, 4201 Patterson Avenue, Baltimore, MD; Germantown, 20400 Century Boulevard, Germantown, MD; 3300 75th Avenue, Landover, MD; 4700 River Road, Riverdale, MD; Woodmont Office Center, 1401 Rockville Pike, Rockville, MD; 251 Causeway Street, Boston, MA; 75 Pleasant Street, Malden, MA; Montvale Avenue One Montvale Avenue Stoneham, MA; 11411 E. Jefferson 11411 E. Jefferson Detroit, MI; 330 Second Avenue Building 330 Second Avenue Building Minneapolis, MN; Rosedale Corporate Plaza D and E, 2645 and 2665 Long Lake Road, Roseville, MN; 4300 NE 34th Street, Kansas City, MO; 4241 NE 34th Street, Kansas City, MO; 10-12 Celina Avenue, Nashua, NH; 435 Montano Boulevard, Albuquerque, NM; Federal Center, 130-138 Delaware Avenue, Buffalo, NY; 55 North Robinson, Oklahoma City, OK; 101 Executive Center Drive, Columbia, SC; 111 Executive Center Drive, Columbia, SC; Synergy Business Park - Kingstree, 110 Centerview Drive, Columbia, SC; One Memphis Place, 200 Jefferson Avenue, Memphis, TN; Veterans Affairs Regional Office, 701 Clay Avenue, Waco, TX; 65 Bowdoin Street, Burlington, VT; 5600 Columbia Pike, Falls Church, VA; 2420 Stevens Center, Richland, WA; 2430 Stevens Center, Richland, WA; 2029 Stonewall Jackson Drive, Falling Waters, WV; and 5353 Yellowstone Road, Cheyenne, WY.
Almost all other Real Estate Investment Trusts which I've written about on this site are positioned to benefit from private economic activity in the areas in which they're located. Government Properties Income Trust is a REIT positioned to benefit from the growth of government in the United States.
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