Gladstone Commercial Corporation Announces Sale of Three Properties for $3.0 Million
August 25 2016 - 7:30AM
Gladstone Commercial Corporation (NASDAQ:GOOD) (“Gladstone
Commercial”) announced today that it sold three properties for
gross proceeds of $3.0 million. The sales included three industrial
facilities leased to Metal Spinners, Inc. in Angola, IN and Rock
Falls, IL. The Angola locations serve as Metal Spinners’ corporate
headquarters. Gladstone Commercial recognized a levered IRR
of approximately 13% on its investment.
“These transactions are consistent with our
capital recycling operating strategy that seeks to divest non-core
assets while maintaining a best-in-class portfolio in strong
secondary markets," said Bob Cutlip, President of Gladstone
Commercial.
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 96
properties located in 24 states, totaling approximately 10.9
million square feet. For additional information please visit
www.gladstonecommercial.com.
For Broker Submittals:
South/Southwest: |
Midwest/Northeast: |
Buzz
Cooper |
Matt
Tucker |
Senior Managing
Director |
Managing Director |
(703) 287-5815 |
(703) 287-5830 |
Buzz.Cooper@gladstonecompanies.com |
Matt.Tucker@gladstonecompanies.com |
|
|
West: |
Tennessee/Kentucky: |
Andrew
White |
Brandon
Flickinger |
Managing Director |
Director |
(310) 953-4960 |
(703) 287-5819 |
Andrew.White@gladstonecompanies.com |
Brandon.Flickinger@gladstonecompanies.com |
Investor or Media Inquiries:
Bob
Cutlip |
|
President –
Gladstone Commercial Corporation |
(703) 287-5878 |
|
Bob.Cutlip@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, 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.
For Investor Relations inquiries related to any of the monthly
dividend paying Gladstone funds, please visit
www.gladstone.com.
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