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Gladstone Commercial Corporation Announces 280,000 Square Foot New Lease in Ohio

MCLEAN, Va., Jan. 04, 2016 (GLOBE NEWSWIRE) -- Gladstone Commercial Corporation (NASDAQ:GOOD) (the “Company” or “Gladstone Commercial”), a real estate investment trust focused on acquiring, owning and operating net leased office and industrial properties, announced today that it signed a three year, 280,000 square foot lease at its 347,000 square foot Maple Heights, OH industrial warehouse property. The tenant, a large manufacturer of products for the consumer goods industry, currently subleases space in the building. The tenant chose to remain at the property due to its flexible layout and access to the Midwest distribution channels. The new lease expires on December 31, 2018.

“We are thrilled that our tenant has decided to remain at the property,” said Buzz Cooper, Senior Managing Director of Gladstone Commercial. “This property represents one of our last major lease expirations for the next few years. Signing the new lease today builds on our track record of proactive lease renewal executions across the entire portfolio.”

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 99 properties located in 24 states, totaling approximately 11.0 million square feet. For additional information please visit www.gladstonecommercial.com.

For Broker Submittals:

South/Southwest: West:
Buzz Cooper Andrew White
Senior Managing Director Managing Director
(703) 287-5830 (310) 953-4960
Buzz.Cooper@gladstonecompanies.com Andrew.White@gladstonecompanies.com
Midwest/Northeast: Tennessee/Kentucky:
Matt Tucker Brandon Flickinger
Managing Director Director
(703) 287-5815 (703) 287-5819
Matt.Tucker@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, 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.


Source:Gladstone Commercial Corporation