Gladstone Commercial Corporation Announces Property Acquisition in Denver Suburb of Aurora, CO
July 07 2014 - 4:05PM
Gladstone Commercial Corporation (Nasdaq:GOOD) (the "Company")
reported today that it purchased a 124,800 square foot building in
the Denver suburb of Aurora, Colorado. The building serves as
headquarters of, as well as a warehouse, manufacturing and
distribution facility for, Barton Supply, a privately owned
portfolio company of Kodiak Building Partners, specializing in
rebar fabrication, structural and miscellaneous steel and concrete
construction accessories across commercial and residential markets.
The Property, which has been leased back to Barton Supply for 15
years, is located in the Upland Business Park, a mature core
business / industrial park in Aurora with direct rail service and
direct access to I-225 and 1-70. The Property is located 15 minutes
from the Denver CBD and 20 minutes from Denver International
Airport. The property has excess land for future expansion and
direct rail access, a unique attribute within the business
park.
"This acquisition marks our second acquisition in Colorado and
our third acquisition in the Western U.S. which continues our
strategic expansion into both primary and secondary markets in the
Western U.S.," said Andrew White, Managing Director of the Company.
"The 15 year lease to Barton Supply should provide attractive
stable returns to our investors given the long term lease, the
attributes of the real estate and economic fundamentals driving the
Denver real estate market." Gladstone Commercial's real estate
portfolio now consists of 93 properties located in 23 states,
totaling approximately 10.0 million square feet.
For more information regarding Gladstone Commercial's activity
in the Western U.S., please contact Andrew White at
andrew.white@gladstonecompanies.com.
Gladstone Commercial Corporation is a real estate investment
trust (REIT) that invests in and owns net leased industrial,
commercial and retail real property. Additional information can be
found at www.gladstonecompanies.com.
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, 2013, as filed with
the SEC on February 18, 2014. 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.
CONTACT: For further information: Gladstone Commercial Corporation +1-703-287-5893
Gladstone Commercial (NASDAQ:GOOD)
Historical Stock Chart
From Jun 2024 to Jul 2024
Gladstone Commercial (NASDAQ:GOOD)
Historical Stock Chart
From Jul 2023 to Jul 2024