MCLEAN, Va., May 22, 2013 /PRNewswire/ -- Gladstone
Commercial Corporation (NASDAQ: GOOD) (the "Company") reported
today that it completed the forward purchase of a 170,000 square
foot build-to-suit light industrial manufacturing facility in
Vance, Alabama for $13.4 million.
(Logo:
http://photos.prnewswire.com/prnh/20101005/GLADSTONECOMMERCIAL
)
The Company acquired the property from Brookwood Parkway, LLC,
based in Roebuck, South
Carolina. The seller / developer constructed the property as
a forward build-to-suit for the tenant that is strategically
located near a key customer. The property has a 10-year lease
with renewal options.
"Acquiring this high quality facility is consistent with our
growth strategy," said Buzz Cooper, Managing Director responsible
for the transaction. "All parties were involved from the initial
stages and worked together to complete a successful
transaction."
Gladstone Commercial Corporation is a real estate investment
trust ("REIT") that invests in and owns net leased industrial,
commercial and retail real property and selectively makes long-term
industrial and commercial mortgage loans. The Company
currently owns 82 properties. Including payments through
April 2013, the Company has paid 100
consecutive monthly cash distributions on its common stock. Prior
to paying distributions on a monthly basis, the Company paid five
consecutive quarterly cash distributions. The Company has
paid 88 consecutive monthly cash distributions on its Series A
preferred stock, 79 consecutive monthly cash distributions on its
Series B preferred stock, 15 consecutive monthly cash distributions
on its Series C Term Preferred Stock and 39 consecutive monthly
cash distributions on its Senior Common Stock. The Company has
never skipped, reduced or deferred a monthly distribution since
inception, over nine years ago. Additional information can be found
at www.gladstonecompanies.com.
For Investor Relations inquiries related to any of the monthly
dividend paying Gladstone funds,
please visit www.gladstone.com.
SOURCE Gladstone Commercial Corporation