Gladstone Commercial Corporation Signs New Lease, Increasing Occupancy at Bolingbrook, Illinois Property to 100%
September 26 2016 - 8:30AM
Gladstone Commercial Corporation (NASDAQ:GOOD) (“Gladstone
Commercial”) announced today that it has executed a new lease
totaling 20,719 square feet on previously vacant space at its
55,480 square foot industrial property located in Bolingbrook,
Illinois. The new lease expires in early 2024 and brings the
property’s occupancy to 100% with no lease rollover until April
2022.
The tenant operates and franchises businesses
engaged in cleaning carpets, upholstery, and ventilation air ducts
and in providing water mitigation and restoration services for
businesses throughout the United States. Brandon Flickinger
(Director, Real Estate, of Gladstone Commercial) commented, “We
have leased 34,535 sf over the past four months at this property,
reflecting strong transaction velocity in this Chicago
submarket.”
"I am proud of our team's successful leasing
efforts in 2016," remarked Bob Cutlip, President
of Gladstone Commercial. "Fully leasing this building 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 97
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: |
Tennessee/Kentucky: |
Buzz
Cooper |
Brandon
Flickinger |
Senior Managing
Director |
Director, Real Estate |
(703) 287-5815 |
(703) 287-5819 |
Buzz.Cooper@gladstonecompanies.com |
Brandon.Flickinger@gladstonecompanies.com |
|
|
West: |
Midwest/Northeast: |
Andrew
White |
Matt
Tucker |
Managing Director |
Managing Director |
(310) 953-4960 |
(703) 287-5830 |
Andrew.White@gladstonecompanies.com |
Matt.Tucker@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.
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