Gladstone Commercial Corporation Signs 5-Year Lease Extension at its Wichita, KS Property
October 31 2016 - 9:15AM
Gladstone Commercial Corporation (NASDAQ:GOOD) (“Gladstone
Commercial”) announced today that it has executed a 5-year lease
extension with T-Mobile USA, Inc. (“T-Mobile”) at its 69,287 square
foot office property located in Wichita, Kansas. The lease
extension maintains the property’s 100% occupancy with T-Mobile
through September 2022.
T-Mobile provides mobile communications services
for consumers and businesses in the United States, Puerto Rico and
the U.S. Virgin Islands. Buzz Cooper, Senior Managing Director of
Gladstone Commercial, commented, “T-Mobile and Gladstone Commercial
worked well together in reaching an agreement to the extension.
This property was a build-to-suit in 2000 for T-Mobile and provides
attractive amenities for their employees. We look forward to
continuing this long-term relationship.”
"I am proud of our team's successful leasing
efforts in 2016," remarked Bob Cutlip, President
of Gladstone Commercial. "Extending the term on this building
further stabilizes same store rental income and contributes to
increasing cash flow over the next five years."
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: |
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Tennessee/Kentucky: |
Buzz
Cooper |
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Brandon
Flickinger |
Senior Managing
Director |
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Director, Real Estate |
(703) 287-5815 |
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(703) 287-5819 |
Buzz.Cooper@gladstonecompanies.com |
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Brandon.Flickinger@gladstonecompanies.com |
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West: |
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Midwest/Northeast: |
Andrew
White |
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Matt
Tucker |
Managing Director |
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Managing Director |
(310) 953-4960 |
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(703) 287-5830 |
Andrew.White@gladstonecompanies.com |
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Matt.Tucker@gladstonecompanies.com |
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Investor or Media Inquiries:
Bob
Cutlip |
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President –
Gladstone Commercial Corporation |
(703) 287-5878 |
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Bob.Cutlip@gladstonecompanies.com |
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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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