Gladstone Commercial Corporation Announces Sale of Three Properties for $6.9 Million
December 07 2015 - 4:05PM
Gladstone Commercial Corporation (NASDAQ:GOOD) (the "Company" or
"Gladstone Commercial"), a real estate investment trust focused on
acquiring, owning and operating net leased office and industrial
properties, announced today that it sold three properties for gross
proceeds of $6.9 million. The sales included the Company's
Birmingham, AL and Columbia, MO industrial buildings for gross
proceeds of $4.1 million in December and the Company's Columbus, OH
industrial building for gross proceeds of $2.8 million in November.
The combined sales will result in a gain of approximately $1.5
million.
"These transactions are consistent with our capital recycling
operating strategy that seeks to divest non-core assets while
maintaining a best-in-class portfolio in strong secondary markets,"
said Bob Cutlip, President of Gladstone Commercial.
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. Gladstone Commercial's real
estate portfolio consists of 99 properties located in 24 states,
totaling approximately 11.0 million square feet. For additional
information please visit www.gladstonecommercial.com.
For Broker Submittals:
South/Southwest: |
West: |
Buzz Cooper |
Andrew White |
Senior Managing Director |
Managing Director |
(703) 287-5830 |
(310) 953-4960 |
Buzz.Cooper@gladstonecompanies.com |
Andrew.White@gladstonecompanies.com |
|
|
Midwest/Northeast: |
Tennessee/Kentucky: |
Matt Tucker |
Brandon Flickinger |
Managing Director |
Director |
(703) 287-5815 |
(703) 287-5819 |
Matt.Tucker@gladstonecompanies.com |
Brandon.Flickinger@gladstonecompanies.com |
|
|
Investor or Media Inquiries:
Bob Cutlip |
|
President – Gladstone Commercial
Corporation |
(703) 287-5878 |
|
Bob.Cutlip@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, 2014, as filed with the SEC
on February 18, 2015 and the Company's Form 10-Q for the
quarter ended June 30, 2015, as filed with the SEC on August 3,
2015. 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.
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