Gladstone Commercial Corporation Signs Three New Leases Totaling 67,085 SF Increasing Portfolio Occupancy to 98.5%
June 15 2016 - 4:05PM
Gladstone Commercial Corporation (NASDAQ:GOOD) (“Gladstone
Commercial” or the “Company”) announced today that it has executed
three new leases totaling 67,085 square feet on previously vacant
spaces. The execution of these leases brings Gladstone Commercial’s
portfolio occupancy to 98.5%.
Maple Heights, OH Property
- Executed a new lease for 40,606 square feet at the Company’s
347,448 square foot distribution center. The tenant provides
logistical support to shippers and counts among its customers
multiple Fortune 500 firms. The new lease expires July 2021.
Bolingbrook, IL Property
- Executed a new lease for 13,816 square feet at the Company’s
55,480 square foot industrial property. The tenant is a distributor
and fabricator of plastic sheet, rod and tube. The new lease
expires August 2023.
Burnsville, MN Property
- Executed a new lease for 12,663 square feet at the Company’s
114,813 square foot office property. The tenant is a global
engineering consulting firm. The new lease expires July 2021.
“I am proud of our team’s successful leasing
efforts during the first half of 2016,” remarked Bob Cutlip,
President of Gladstone Commercial. “Leasing up 67,085 square feet
of vacant space will increase our same store revenue while reducing
our property operating expenses which will positively impact our
returns.”
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 11.1
million square feet. For additional information please visit
www.gladstonecommercial.com.
For Broker Submittals:
South/Southwest: |
Midwest/Northeast: |
Buzz
Cooper |
Matt
Tucker |
Senior Managing
Director |
Managing Director |
(703) 287-5815 |
(703) 287-5830 |
Buzz.Cooper@gladstonecompanies.com |
Matt.Tucker@gladstonecompanies.com |
|
|
West: |
Tennessee/Kentucky: |
Andrew
White |
Brandon
Flickinger |
Managing Director |
Director |
(310) 953-4960 |
(703) 287-5819 |
Andrew.White@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, 2015, as filed with the SEC
on February 17, 2016. 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.
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