MCLEAN, Va., June 15, 2016 (GLOBE NEWSWIRE) — 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.