Gladstone Commercial Corporation Announces 278,020 SF Lease Extension in Duncan, SC
October 29 2015 - 7:30AM
Gladstone Commercial Corporation (NASDAQ:GOOD) ("Gladstone
Commercial") announced today that it has executed a lease extension
with AFL Telecommunications LLC ("AFL") for its 278,020 square foot
Duncan, South Carolina office and industrial campus, extending the
lease expiration through July 2028. This lease extension will
increase the property's existing straight-line rent. AFL
manufactures, engineers, and installs fiber optic products for
regional and long distance telephone carriers, electric utilities,
cable television operators, and wireless service providers.
"We are excited that AFL has made a long-term commitment to
growing its business at our campus. This extension will maintain
the campus' 100% occupancy through July 2028 while increasing our
straight-line rent," said Buzz Cooper, Senior Managing Director of
Gladstone Commercial.
Bob Cutlip, Gladstone Commercial's President, added, "I am proud
of our team's proactive leasing efforts this year. Today's
announcement brings total year-to-date 2015 leasing volume to over
547,000 square feet and maintains a high portfolio occupancy rate
of 97.9%."
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 102 properties located in 24 states,
totaling approximately 11.2 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:
South/Southwest:
Buzz Cooper
Senior Managing Director
(703) 287-5830
Buzz.Cooper@gladstonecompanies.com
Midwest/Northeast:
Matt Tucker
Managing Director
(703) 287-5815
Matt.Tucker@gladstonecompanies.com
West:
Andrew White
Managing Director
(310) 953-4960
Andrew.White@gladstonecompanies.com
Tennessee/Kentucky:
Brandon Flickinger
Director
(703) 287-5819
Brandon.Flickinger@gladstonecompanies.com
Investor or Media Inquiries:
Bob Cutlip
President - Gladstone Commercial Corporation
(703) 287-5878
Bob.Cutlip@gladstonecompanies.com
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