Gladstone Commercial Corporation Announces Two Leasing Successes
MCLEAN, Va., September 26, 2017 (GLOBE NEWSWIRE) — Gladstone Commercial Corporation (NASDAQ:GOOD) (“Gladstone Commercial”), a real estate investment trust focused on acquiring, owning and operating net leased industrial and office properties, announced today two recent successful leasing efforts that occurred during the third quarter of 2017.
Gladstone Commercial executed a new 5,227 square foot lease at its Houston, TX medical office building, bringing the building to 100% occupancy. The new lease runs for approximately five years and is with an operating subsidiary of a publically traded medical provider. The 12,018 square foot property will now be 100% leased through December 2022. The property was spared any damage during the recent natural disasters.
Gladstone Commercial also executed a lease amendment to expand space occupied by the tenant at its Raleigh, NC industrial property by 7,045 square feet. The increased square footage is under the same terms as the current lease with the tenant, and brings the property to 100% occupancy. The lease matures in December 2027.
“Through diligent efforts with leasing brokers and our asset management personnel, Gladstone is pleased to have these two buildings at 100% occupancy,” said Buzz Cooper, Senior Managing Director at Gladstone Commercial. “We are confident that the buildings will hold their occupancy for many years to come.”
About Gladstone Commercial Corporation (NASDAQ:GOOD)
Gladstone Commercial is a real estate investment trust focused on acquiring, owning and operating net leased industrial and office properties across the United States. As of June 30, 2017, its real estate portfolio consisted of 94 properties located in 24 states, totaling approximately 10.7 million square feet. For additional information please visit www.gladstonecommercial.com.
For Broker Submittals:
|Buzz Cooper||Brandon Flickinger|
|Senior Managing Director||Managing Director|
|(703) 287-5830||(703) 287-5819|
|Matt Tucker||Andrew White|
|Managing Director||Managing Director|
|(703) 287-5815||(310) 953-4960|
Investor or Media Inquiries:
|President – Gladstone Commercial Corporation|
All statements contained in this press release, other than historical facts, may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Words such as “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates” and variations of these words and similar expressions are intended to identify forward-looking statements. Readers should not rely upon forward-looking statements because the matters they describe are subject to known and unknown risks and uncertainties that could cause the Company’s business, financial condition, liquidity, results of operations, funds from operations or prospects to differ materially from those expressed in or implied by such statements. Such risks and uncertainties are disclosed under the caption “Risk Factors” of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016, as filed with the SEC on February 15, 2017. The Company cautions readers not to place undue reliance on any such forward-looking statements which speak only as of the date made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. For Investor Relations inquiries related to any of the monthly dividend paying Gladstone funds, please visit www.gladstone.com.
SOURCE: Gladstone Commercial Corporation