MCLEAN, Va., Oct. 5, 2015 (GLOBE NEWSWIRE) -- 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
Source:Gladstone Commercial Corporation