Gladstone Commercial Announces Industrial Property Acquisition in Indianapolis, IN
MCLEAN, Va., Nov. 19, 2019 (GLOBE NEWSWIRE) -- Gladstone Commercial Corporation (Nasdaq: GOOD) (“Gladstone Commercial”) announced today that it completed the acquisition of a 231,509 square foot industrial building in Indianapolis, Indiana on November 14, 2019.
The property is 100% leased to Javo Beverage Company (“Javo”) with 13.5 years remaining in the lease term. Javo currently uses the property to manufacture and distribute its coffee and tea beverages, extracts, and flavors. The acquisition of the industrial property is consistent with Gladstone Commercial’s strategy of acquiring high-quality assets with credit-worthy tenants located in its targeted growth markets. This is Gladstone Commercial’s third acquisition in the Indianapolis market, and second industrial acquisition in Indianapolis in 2019.
“We are excited to announce this industrial acquisition in Indianapolis, a market that we have targeted for growth,” said Matt Tucker, Senior Managing Director and head of the Northeast/Midwest Region for Gladstone Commercial. “The facility is mission critical for our tenant and well located in Park Fletcher with good access to major transportation routes.”
Bob Cutlip, President of Gladstone Commercial, agreed: “This acquisition continues our strategy of increasing our industrial allocation by acquiring quality industrial properties in our target markets, such as Indianapolis.”
About Gladstone Commercial (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 September 30, 2019, Gladstone Commercial’s real estate portfolio consisted of 109 properties located in 24 states, totaling approximately 13.1 million square feet. For additional information please visit www.gladstonecommercial.com.
For Broker Submittals:
|Buzz Cooper||Matt Tucker|
|Senior Managing Director||Senior Managing Director|
|(703) 287-5815||(703) 287-5830|
|Southeast / Mountain West:|
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 Gladstone Commercial’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, 2018, as filed with the SEC on February 13, 2019 and certain other filings we make with the SEC. Gladstone Commercial 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
Released November 19, 2019