MCLEAN, Va., Feb. 01, 2018 (GLOBE NEWSWIRE) -- Gladstone Commercial Corporation (NASDAQ:GOOD) ("Gladstone Commercial"), a real estate investment trust focused on acquiring, owning and operating net leased industrial and office properties, announced today a recent lease expansion at its Indianapolis office property.
Gladstone Commercial executed a lease amendment to expand space occupied by Community Health Network, Inc.'s (“CHN”) for-profit subsidiary, Visionary Enterprises Inc. at its five-story, 86,495 square foot, multi-tenant office building located in Indianapolis, Indiana. The lease expansion increases CHN’s occupancy to 74% of the space through February 2026 and increases the property’s total occupancy to 90%. Ranked among the nation's most integrated healthcare systems, CHN is Central Indiana's leader in providing convenient access to exceptional healthcare services, where and when patients need them—in hospitals, health pavilions and doctor's offices, as well as workplaces, schools and homes.
“Since inception in 2003 our portfolio’s occupancy has been 96% or greater which is a testament to our team’s credit underwriting and asset management capabilities,” said Bob Cutlip, President of Gladstone Commercial. “With no more leases expiring in 2018 and less than 4% of forecasted lease expirations between now and the end of 2019, the portfolio is well positioned for future growth.”
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. As of September 30, 2017, the Company owned 97 properties located in 24 states, totaling approximately 11.2 million square feet with portfolio occupancy of 98%. Additional information can be found at www.gladstonecommercial.com.
For Broker Submittals:
|Buzz Cooper||Brandon Flickinger|
|Senior Managing Director||Managing Director|
|(703) 287-5830||(703) 287-5819|
|Matt Tucker||Andrew White|
|Managing Director||Managing Director|
|(703) 287-5815||(310) 953-4960|
Investor or Media Inquiries:
|President – Gladstone Commercial Corporation|
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 and certain other filings we make with the SEC. 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
Source:Gladstone Commercial Corporation