Gladstone Commercial Corporation Announces Property Acquisition in Columbus, OH
May 14 2014 - 3:30PM
Gladstone Commercial Corporation (Nasdaq:GOOD) (the "Company")
reported today that it purchased a three-story, 114,786 square
foot, multi-tenant office building located in Columbus, OH for
$11.8 million. The anchored multi-tenant property serves as the
headquarters for Quantum Health, Inc.
Quantum Health, Inc. is a care coordination and navigation firm
that works for employers with self-funded health insurance plans to
guide their employees and dependents through the healthcare system
and help them get the most out of their care and benefits. A
regional privately-owned business occupies the remaining 8% of the
space.
"This acquisition is consistent with our strategic decision to
focus our acquisition efforts on primary and strong secondary
markets," said Matt Tucker, Managing Director of the Company. "The
property's Class A construction, strong tenancy and premiere
location in Columbus' Westerville submarket will provide stable and
attractive returns for our investors. This acquisition expands
our anchored multitenant platform and our presence in the Columbus
market."
Gladstone Commercial's real estate portfolio now consists of 92
properties located in 23 states, totaling approximately 9.5 million
square feet.
For more information regarding Gladstone Commercial's activity
in the Mid-Western and Northeastern U.S., please contact Matt
Tucker at matt.tucker@gladstonecompanies.com
Gladstone Commercial Corporation is a real estate investment
trust (REIT) that invests in and owns net leased industrial,
commercial and retail real property. Additional information can be
found at www.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, 2013, as filed with the SEC
on February 18, 2014. 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 further information: Gladstone Commercial Corporation
+1-703-287-5893
For Investor Relations inquiries related to any of the monthly
dividend paying Gladstone funds, please visit
www.gladstone.com.
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