Gladstone Commercial Corporation Signs 5+ Year Lease Extension at Its Allen, TX Property
July 17 2017 - 7:15AM
Gladstone Commercial Corporation (NASDAQ:GOOD) (“Gladstone
Commercial”) is pleased to announce that it has executed a 5-year,
10-month lease extension with the anchor tenant at its 115,200
square foot office property located in Allen, Texas. The lease
extension will keep the tenant in its current 83,662 square foot
space through September 30, 2028.
The tenant, founded in the 1930s, is a leading
provider of data, video and voice services to commercial and
consumer customers in 29 states. Buzz Cooper, Senior Managing
Director of Gladstone Commercial, stated, “We are very pleased with
the commitment that the tenant is showing to this location. We
found the dealings to be very transparent and agreeable to satisfy
all parties involved.” The tenant has occupied the property since
June 2011. Gladstone Commercial originally purchased the property
in July 2013, and has maintained a 100% occupancy level since
acquisition. The lease extension underscores Gladstone Commercial’s
commitment to providing steady and growing cash flow to investors,
and will keep the tenant as the anchor in the building through
September 2028.
About Gladstone Commercial (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. As of
March 31, 2017, its real estate portfolio consisted of 95
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: |
|
Tennessee/Kentucky/Florida: |
Buzz
Cooper |
|
Brandon
Flickinger |
Senior Managing
Director |
|
Managing Director |
(703) 287-5815 |
|
(703) 287-5819 |
Buzz.Cooper@gladstonecompanies.com |
|
Brandon.Flickinger@gladstonecompanies.com |
|
|
|
West: |
|
Midwest/Northeast: |
Andrew
White |
|
Matt
Tucker |
Managing Director |
|
Managing Director |
(310) 953-4960 |
|
(703) 287-5830 |
Andrew.White@gladstonecompanies.com |
|
Matt.Tucker@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, 2016, as filed with the SEC
on February 15, 2017. 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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