Gladstone Commercial Corporation Announces 100% Lease Up of Indianapolis, IN Property
October 05 2015 - 4:00PM
Gladstone Commercial Corporation (NASDAQ:GOOD) (the "Company" or
"Gladstone Commercial") announced today that it has completed the
100% lease up of its 86,495 square foot Indianapolis, IN,
multi-tenant office property. This year, the Company successfully
renewed the three tenants expiring in 2015 and expanded two tenants
into the previously vacant space. The anchored multi-tenant
property serves as the headquarters for Community Health Network,
Inc.'s for-profit subsidiary, Visionary Enterprises Inc., which
occupies 71% of the space through February 2026.
"We are pleased that our existing tenants have chosen to renew
and expand their footprint at our property," said Brandon
Flickinger, Director of Real Estate for the Company. "The 100%
lease up of our property with our existing tenants will increase
both our cash and straight-line rent and provide a stabilized
property."
Bob Cutlip, Gladstone Commercial's President, commented, "The
renewal and expansion of these tenants validates our ability to
execute the anchored multi-tenant strategy in our growth
markets."
The CBRE team of Nick Svarczkopf represented Gladstone
Commercial in these transactions.
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 101 properties located in 24 states,
totaling approximately 11.1 million square feet. For additional
information please visit www.gladstonecommercial.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, 2014, as filed with the SEC
on February 18, 2015 and the Company's Form 10-Q for the
quarter ended June 30, 2015, as filed with the SEC on August 3,
2015. 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.
CONTACT: For Broker Submittals:
Tennessee/Kentucky:
Brandon Flickinger
Director
(703) 287-5819
Brandon.Flickinger@gladstonecompanies.com
Midwest/Northeast:
Matt Tucker
Managing Director
(703) 287-5830
Matt.Tucker@gladstonecompanies.com
South/Southwest:
Buzz Cooper
Senior Managing Director
(703) 287-5815
Buzz.Cooper@gladstonecompanies.com
West:
Andrew White
Managing Director
(310) 953-4960
Andrew.White@gladstonecompanies.com
Investor or Media Inquiries:
Bob Cutlip
President - Gladstone Commercial Corporation
(703) 287-5878
Bob.Cutlip@gladstonecompanies.com
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