MCLEAN, Va., May 10, 2016 (GLOBE NEWSWIRE) — Gladstone Commercial Corporation (NASDAQ:GOOD) (“Gladstone Commercial”) announced today that its 956K square foot distribution center located in the Wilkes-Barre / Scranton submarket of the I-81 distribution corridor has upgraded all of its fluorescent lighting to energy efficient LED lighting. Our tenant, Kane Is Able (“KANE”), worked with R World Energy Solutions to upgrade the lighting in two of KANE’s distribution centers (one of which is owned by us) encompassing 1.2MM square feet. The upgrade is projected to save over 2MM kWh annually with the added benefit of eliminating the emission of 2.7MM pounds of greenhouse gases each year.
Alex Stark, KANE’s Senior Director of Marketing, remarked, “Among our company’s many sustainability initiatives, the most recent is the installation of new lighting at select KANE distribution centers. The upgraded LED fixtures provide much brighter light for improved working conditions, while enhancing overall safety and efficiency.”
Matt Tucker, Managing Director of Gladstone Commercial, noted, “This lighting upgrade demonstrates our commitment to improving our properties, lowering costs for our tenants and implementing sustainability initiatives that improve the quality of our portfolio. We started with our largest properties – this LED project in our 956K square foot Taylor, PA distribution facility and the recent designation of our 320K square foot GM office facility in Austin, TX as ENERGY STAR® certified – and we will continue work to improve the portfolio by pursuing energy efficiency upgrades and sustainability initiatives at our properties.”
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:|
|Buzz Cooper||Matt Tucker|
|Senior Managing Director||Managing Director|
|(703) 287-5815||(703) 287-5830|
|Andrew White||Brandon Flickinger|
|(310) 953-4960||(703) 287-5819|
|Investor or Media Inquiries:|
|President – Gladstone Commercial Corporation|
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.
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